HomeMy WebLinkAbout0947 23- The Ic~an rePr~esented by this Mo~tgage and the Note is personal to the Mortgagor and the Mortgagee made
the loan to the Mortgagor based up~n the credit of the Mortgagor and the Mortgaget's judgement of the ability of the
Mongagor to rcpay all sums due under this Mortgage, and thereforo this Mortgage may not be assumed by any subse-
quent holder of an intec+est in the Mortgaged Property. If all or any pari of the Mottgagod Propeny. or any interest there-
in, is sold, conveyed, transfemed (inciuding a transfer by agreement for deed or land contract) or further encumbercd by
Mortgagor without Mortgagee's prior written consent excluding the grant of any leaseiwld inter~est in the Mortgagai
Property not containing an option to purchase, which lease is made in the ordinary course of Mortgagor's business, then
in that event Mortgagee may declarc all sunu secured by this Mortgage immediately due and payable.
24. Mortgagor represents and warrants that if a corporation, it is duly organized and validly sxisting, in good
standing under the laws of the state of its incorporation. has stock outstanding which has been duly and validly issued,
and is qualif ed to do business and is in good standing in the State of Florida, with full power and authority to consum-
mate the loan comtemplated hereby; and, if a partnership, it is duly forn~ed and validly existing, and is fully qualified to
do business in the State of Florida; with full power and authority to consummate the loan comtemplated hereby.
25. !n the event any one or more of the provisions contained in this Moctgage or in the Note shall for any rea-
son be held to be invalid, illegal or unenforceable in any respect. such invalidity. illegality or unenforceability shall, at
the option of the Mortgagee, not affect any other provisions of this Mortgage, but this Mortgage shall be construed as if
such invalid, illegal or unenforceable provision had never been contained herein or therein. The total interest payable
pursuant to the Note or this Mortgage shall not in any one year exceed the highest lawful rate of interest permitted in the
State of Florida.
2b. The covenants and 'agreements herein contained shall bind and the E+enefits and advantages shall inure to
the respective heirs, executors. adrninistrators. successors, and assigns of t}?e parties hereto. Wherever used, the singu-
!ar number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. Ap
covenants, agreements and undertakings shaU be joint and several. In the event additional numbered covenana or paragraphs
are for oonvenience inserted in this Mortgage, such additanal covenants shall be read and given effect as though folbwing this
oovenant in consecuti~•e order.
IN WITNESS WHEREOF, Mortgagor has duly exe~;uted this Mortgage as of the date first above wcitten.
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ATTEST: BY
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(COkPORATE SEAL)
STATE OF FLORIDA ~
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COUNTY OF L~TE ~
The foregaing instrument was acknowledged before me this `~c « day of JunP , 19 85 , by ~
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I~:~ RALPH KC~iF~VV and NANCY DEAN KOHII~I, his wife, r
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STATE OF F~:ORt~A ? i
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~ The foregoing instrument was acknowledged before me this day of ,
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