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Home My WebLink About0972 . . -7 . - - - . . ~ F 23. 'fhe luan represented by this Mortgage and the Note is personal to the Mortgagor and ~he Mortgagee made the luan to ihe Mortgagor based upon the credit of the Mongagor and the Mortgagee's judgement of the ability c~f the ; Mortgagor to repay all sums due under this Martgage, and therefore ~his Mortgage may nat be assumed by any subse- quent holder of an int~rest in ihe Mortgaged Properiy. !f ali or any part of ihe Mortgaged Propeny, or any interest there- in, is sold, conveyed, iransferre,d (including a trans(er by agreement for deed or land contracl) or further encumbered by Mongagor without Mortgagee's prio~ written consent excluding the grant of any leasehoid interest in the Mortgaged r Property not containing an option to purchase, which lease is made in the ordinary cuurse of Mangagor's busine~s, then ' in that event ~t~rtgagee may cleclare al! sums secured by this Mortgage immediately due and payable. 24. Mortgagor represem~ and warrants that if :i c~~rFwratiun, it is duly urganized and ~~alidly existing, in gcxxi standing under the laws of the state of its incorporation, has stock uutstanding which has been duly and validly issued, and is yualified to do business and is in goaci ~tanding in the S~atr of Florida, with full Ewwer and authority to consum- mate the loan c~mtemplated hereby; and, if a partnership, it is duly fonned and validly exisling, and is fulty qualified to do businesc in the S~ate of Florida; with full pow~er and authority to consummate the loan contemplated hereby. 25. In the event any one or more of the pr~visions contained in this Mortgage or in the Note shall for any r~a- ? s~m be hetd to be invaliJ, illegal or unenforceable in any respect, such invalidiry, illegaliry or unenforceahility shall, at the option of the Martgagee, not af~ect any other provisions of this Mortgage, but this Mortgage shaU be construed as if ~ such invalid, illegal or unenforceable provisian had never been contained herein or therein. The t~tal intere~t payable ' pursuant to the Note or this Mortgage shatl not in any one year exceed the highest law~ful rate of interest permitted in the Stat: of Florida. 26. The covenants and agreements herein contained shall bind and the benefits and aJvantages shall inure tu the respective heirs, executors, administrators, successors, and assigns of the parties hereto. Wherever used, the singu- lar number shall inctude the ptural, the plural the singular, and the use of any gender shall be applicable to all gende~s. All covenants, agreements and undertakings shall be joint and several. In the e~~ent additional numbered covenants or paragraphs are for convenience inserted in this Mortgage, such additional covenants shall be read and given effect as though follcwing this co~~enant in consecutive order. IN WITNESS WHEREOF, Mortgagor has duly executed this Mortgage as of the date first above written. ~ THIS IS.A BALLOON MORTGAGE SECURING A VARIABLE (ADJUSTABLE; RENEGOTIABI,E) RATE OBLIGATION. ASSUMING THAT THE INITIAL RATE OF INTEREST WERE TO APPLY FOR THE ENTIRE TER~'~i OF THE MORTGAGE, THE FINAL PRINCIPAL PAYMENT OR THE PRNICIPAL BALANCE DUE UPON MATURITY WOULD BE APPROXIMATELY $244,040.00 TOGETHER WITH ACCURED INTEREST, IF ANY, AND ALL ADVANEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS MORTGAGE. THE ACTUAL BALANCE DUE UPON MATURITY MAY VARY DEPENDING ON CHANGES I~] THE R~TE OF INTEREST. ' Prepared by: P. White un Bank/Treasure Cvast NA, P O B x 8, Ft. Pierce, Florid~ , ~ ` 1 _ _ _ _ _ _ . . - ~ ' ~ - - ATTEST: BY - Secretary ~~Q~A,~ ~ ~ ,7 iC.~ As its (CORPORATE SEAL) '86 OEC 31 P 2 :36 STATE OF FLORIDA ~ FfLEO ANE' ~ ) SS: COUNTY OF~~,~~ ~ SY. ~.UCIt C;~''}~ I~. ~~r The Eoregoing instrument was acknowledged before me this ~ day of , 19 5!-~ , by _ ~ . - . ~aa,;~ Pa,~~u;c~ a- S . sl~o ~s ~ ~ f (NOTARIAL SE~,~.,~ . Not blic ~ I . ~ . . - ~ ; Mycommissio~expires: i - NOLART OL'BtIC S1ATE Df fl0A1Dl~ itT CONMISS30k ExP. MAY 6, 1989 - STATE OP F1.ORIDA 1 E4MOED iHAU GEMfRAI 1M6. U~. - COUNTY OF , _ ~ r-T`~,TF: ~i-•(-?Rl~,l~. ~ Ey'• The foregoing ins . " • ~f . ~ I 9 . by = uEC 3I'66 ":.-&3=>.'• J U(i. U tJ ~ as the ' ~ u~ _ F B. / ~ ~ = iQ~23 ~ ,a corporation, on behalf of the corporatc F u Notary Public ~i r r: ~ ~ INOTARIAL SEAL) BKO S 2 6 PA6~ J~sion expires: ~ 3',' 4- ~ ~ ~ . . .-~g:~•._.