HomeMy WebLinkAbout0936 20 TMt MatpaQw wJl ~ot p~rmit ~ny o1h~r INns l0 0~ f~ ~p~in~t tM sa~d pr~m~sts ~~d d any sucA I~~ns an I~I~d. wM~Mr p~r~mount or suDw• ~
~i~ne~~ ~o ~tus mo~~p~. Matpapa w~11 h~w a uus~ ~o b Nd sa~d INns d~aM~p~d ~mR+~d~at~ly. l
21 Mortpaps~ shall hav~ ths r~pht to tharp~ MoripapOr's ~tcounl w~th Mo~IpapN lor iM» ~nl~rnt and pnnC:pal p~y~ple as prowd~d in th~ prom~=:pry ,
~~o~~ as wch bkom~~ dw in ~ccwdanc~ tMnw~th
22 11 tM Mortpa~a r,pwas. Mwe9apor h~r~oy cov~n~nts and ~prNS ihat Mor~papw wdl furn,M ~M Monpaye~ annuslly Irom th~ dst~ of th~=
mo~iqap~ instrumMt. unNs~ som~ otMr dat~ ~s ~prs~d to b~twN~ tM paniN ?n wr~anp. a e~n~fNd aud~ad hnanc~a~ suan+~m of ~h~ Morips~a sn.~ an~us~
compbt~ op~atu?p st~t~m~nts of Matpapw. 11 tM MortqaQoi ~ haca! o~ ubndar y~~r shaN not canc~ vmth tM dat~ Mn+n ~p~c~fNd, tMn t1+~ da~~ wh~ch
i~~~ Mo~~~+pN shau sMe~h sMQ b~ se++trolt~np MortQa9a ~P+Sq wpp~y Mptpap~ ~n„th wch otl+~~ I~nu~e~al st~t~mtnts ~t Mortpap~ msy from ~utw to t~m~
requ~st
23 It is aQrMd tMt notMtp Mnm conta~n~d na any transac~ion rNat~d thsr~to shalt b~ conitrwd a so opKat~ ~s to rpwr~ tM MonpaQa co pay
~ntsrest at a raa ~~at~r than it a now t~wful ~n such c~N to contract for. o~ to mak~ ~nY p~ym~nt or to do any iCt Contr~ry to law. that ~f sny ttsusts Or
prows~w~s 1+Kan ~ont~~n~d opKat~ a would prosasctiwty opN~t~ to i~wal~t~ tlw~ MatpaQ~ or said No!• m wAoN a in pan. tMn. wch claus~s and
prov~s~on: only shatl b~ Mld la n~upAt. as thouph not Mr~in contain~d. a~d t1+~ nm~~ndK ot tlw Mortpp~ ~hall nms~~ op~r~t~w a~d ~n tu~l (orc~ and ~R~ct.
24 It ~N w any pah of tM mort~ap~d prop~rty shall b~ damap~d a ak~n throuph cand~mnat;on (wA~ch tNm wMn us~d ~n th~s maipap~ shatl m-
c1ud~ ~ny damap~ or qkinp by ~Mr ~ovKnm~ntal ~uchontp. and Hinslsr by privat~ sal~ in li~u tMr~op. NtMr t~mpor~rily or p~~man~ntly. tM ~ntu~ rn-
dabtMMSS s~Cw~d I+K~b~r shaN it tM oDtion o1 tM MatQapN, e.eom. ~~+n~.d~at.ti dw a+~d wvaa.• Tn. Monaw. ~,au e..m~t+.d eo au ooR?p.~~a~wn
awards. ind otMr pa~nNr+a a ntiN eMnfar and a hK~by authori:~d. ~t its option. ta oomm~ne~. ~ in ~nd pros~eut~. ~u own a tM n+ortyaQor's
nsm~. ~ny ~ction w procNdinp ~Natinp ~o aMr co~d~mnation. and to s~ttw a compromis~ ~ny daim in conn~ction tMr~w~tA. AN. suCh camp~nsat~cn. f
awsrds. damap~s. ei~ims. ~iphb ol aetion ~nd procMds and th~ ~ipht tMinto u~ Mrtb~r ~s~ip~Nd py q» IMpRpp~ to tM MortpapN. who. ahe~ d~ductmp `
~ner~irom aN ics ~ap~nsa. irxiudinp anomay's tNS. m~~ n1~aM sn~r rt~w~ys so nesiwd py ie without afhetinp t~e Iisn d cMs n?wtpaQ~ w mav app~r tM
sam~ in wch rtu~nN ~s tM Matpa~ thatl d~t~?m~M. to ths nductior+M tM wn?s s~wnd M?sby. ~nd to MY prtWym~nt Chsrp~ hKtin provid~Q. ~nd any
oaianc~ ol wch mon~ys t1~n nm~+runp sAal! b~ pa~d to tM MortyaQa. TM MortQapo? ~9r~ss to ~:~cut~ such funMr assi~vm~nts ol any comp~nsatwns.
aM,ards. dsms~s, claims. ~n~s o~ ,etwn a~d w«~ as ~n. M«coa9« nu~ rpu~s.
25 This mortga~ shalt b~ constru~d as s s~cu~ity pr~sm~nt und~r tM Flo~ida Unito?m Comm~rcial Cod~.
26. Ocn~r prows,ons:In the event this mortgage is ~unior and inferior to any other mortgage and/or
lien on the above-described real property, and this mortgage is given with full knowledge of such
superior mortgage and/or lien, that said superior mortgage and/or lien will be paid by mortgagor
in accordance with the terms and conditions thereof without regard to any grace period as contained
therein and failure to make said payment will constitute an automatic default in this mortgage and
the whole of said principal sum secured hereby shall become due and payable at the cption of the
mortgagee. Additionally, the default in the performance of any of the terms, provisions, covenants,
or agreements contained in any superior mortgage and/or lien, or the cou7mencement of any action to
foreclose any said superior mortgage and/or lien, shall constitute an automatic default in this
~ r~ortgage and the whole of said principal sum secured hereby shall immediately become due and
~;~ayable at the option of the mortgagee.
IN WiTNESS WHEREOF, the Mwtpagor ha~ ~xecu~ed dkss pnsrna undK s~sl tl~e dsy ~nd y~sr first abow writun.
SiQned, sealed and dNiwr~rd in tht presence of:
~
~ ' ISeal)
; , Terry . How e,,~,,,~,~,
~GZliLC.~i ~ c7~~GG~!~^~ •
. ~15ea1)
Fannie H. Howard _ R.,~..,w~
j INDiVIDUAI ACKNOWLE~GEMENT ~ -~~~<<:;_~ ~ ~
k STATEOF Florida ) ' -~~~'~~`t 'f~~.;~
. ia l. lI 4L ; ~j t~I' ' _1 . : ~,i
• ~1,~ . .
= COUNTY OF St. L.uci e ' . . ° ~ : •
i - ~ . c- t .
{ , ` - a ` -
. -r _
~ The foreqoiny i~strumsnt rvas ~cfcnowledped b~fon ms this 18th d~y of D c
~ ~ .
; 1985 , by ~ Terrv L. Howard ~d Fannie H. Howard, his"~3ife
i _
f ?~Y Commission ~xpires: - - - - ~ ~
MOtApY DUBIIC SiATf Of FLORIDA NOTARY PUBLIC
~Y C~MNISSION E1(P, JUME 6,1989
;H+U SENEaAI IMS. Ul10.
~ CORPOiiATE ACKNOIMLEOGEMENT
~
STATE OF )
. ss
COUNTY OF ? ~
Th~ fore9oirp insuument wu ~cknow{tdp~d b~fon m~ this dsy of , ~
19 , by nd
.
:e:pectiv~ly President and ~
S~a~try of x'
• • acrporation, on bthalf
of said corpor~tion. .
~oox 4~~ Pac~ y.I~J ~
~~Y Commiuion expi~es: ,
r
~ ~fOYA11Y ~V~biC
.
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