HomeMy WebLinkAbout0990 9. If foreclosure proceedings should be instituted against the mortgaged property
upon any other lien or claim, whether alleged to be superior or junior to the lien of this Mort-
gage, the Mort~agee, at its option, immediately or thereafter, may declare this mortgage and
the entire indebtedness secured hereby due and payable forthwith and at its option may pro-
ceed to foreclose this mortgage.
10. That in ,the event all or any portion of the mortgaged ~roperty shall be taken or
damaged through condemnation, the Mortgagee shall have the right to demand that all
damages awarded for the taking of or damage to the premises shall be paid ta the Mortgagee,
up to the amount then unpaid on this mortgage and the obligation secured, and may be ap-
plied upon the payments last payable under this mortgage and the obligation secured.
11. If all or any part of the property or an interest therein is sold or transferred by
Mortgagor without Mortgagee's prior written consent, excluding (a) the creation of a lien or
encumbrance subordinate to this mortgage, (b) the creation of a purchase money security in-
terest for household appliances, (c) a transfer by devise, descent or by operation of taw upon
the death of a joint tenant or (d) the grant of any leasehold interest of three years or less not
containing an option to purchase, Mortgagee may, at Mortgagee's option, declare all the
sums secured by this Mortgage to be immediately due and payable. ~
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~ IT IS MUTUAi,LY COVENANTED AND AGREED by and between the parties hereto
that this mortgage and the obligation secured hereby constitute a Florida contract and shall be
const: ued according to the laws of that State.
IN WITNESS WHEREOF, the Mortgagor does hereunto set his hand and
seal the day and year aforesaid.
~ THIS IS A BALLOON MORTGAGE AND THE FINAL PAIMErTT OR THE BALANCE DUE UPON
i ~tATURITY IS $ 150 000.00
. , TOGETHER WITH ACCRUED INTERk:ST, IF ANY, AND
~ AI.L ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TER:iS OF THIS MORTGAGE.
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~ Signed, sealed and delivered
~ in the presence of:
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~ , Forest S. Beckett ~
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STATE OF
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COUNTY OF ti~'~-u~r.~~%-(,(.Y.C~ ~
Beforemepersonallyappeared Forest S. Beckett, d sinqle man
to me well known and known to me to be the individual described in and who eaecuted the forcgoing instrument, and {
ackncwledged before me that he executcd t}x same for the purposa thesein expressed. f
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WITNES.S my hanq and officiai seal this ~it-/L day of ~ , 19 86 . i`
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Notary Public in and for the Cou ty and State Aforesaid. !
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My ~~itp~ expira: ~
~'=~;~4~ti~~ tORRAINE M. EL!fS, N~tary Pubtic ,
- . - • State d Uhb ~
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S;~ os~° My Comm~ss~n Exares December 2. 1988 ?
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