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prwisi~ of this Sec~rity It~stcument a~d the N.xes are declared to be severeble.
16. Bori+o~sr'a Copy. Borruw~r ahall be given one conforooed copy of the Note ard of this Sewrity ,
InstcuoAent.
17. Zlcanefer of the Praperty oar a Beneficial Intere~t in Botr~er. If all or any part uf the Property or
any interest in it is sold or tratsferred (or if a beneEicial intere~t in Borra~wer is eold or tra~sferred by a~d
Borrcxa~er is not a nawral perscxi) without Lex~der's prior written ca~sent, Lender may, at ita optia~, require
inmediate payment in ~ull of all aums sewred by this Seaurity Instru~aent. tbw~ver, this aption ahall not be
exerciaed by Lender if exerciee is prohibited by fe~deral law ~9 of the date of this Seourity Instrumec?t.
If Lender eaoercises this optian, Lender shall give Borraier catice of acceleratim. The notice shall
prwide a period of not less than 30 days fram the date the notice ia delivered or mailed within which Borr~r
must pay all sums seaured by this Security Inatrument. If Borro~er fails to psy these sums prior to the
expiration of this period. Lsnder m~y imroke any remedies permitted by this Seourity Instniment without further
nc~tice or denad an Borcaier.
18. Aooeleratim; aod Re~edies Time is of the essence hereunder if Borrdwier defaults in the perfocmance
or absexvance of any cwe~ant or abligatian hereunder or fails to make any paym~t due under the note or
abli$ation seaured hereby includin,g aony extension, ren~ral, modificatian, or substibutian thereof or in the event
a proceeding in benkruptcy is inatibuted by or against the Borrower or if the B.~rra~r shall make a~ assigc~ment
for the be~efit of creditc~rs or if the property ~hich is anc7uIIbered hereunder is placed u~er the control of or
in the custady of a~ry caurt or if the Borrower shall ~a~clon this property then upon the accurc~ce of any a~e
ur more of the forQgoiqg the Leder shall have the right, at its optioa, and Without affecting any righta of the
lender hereunde~ to declare Withwt notice, all sume secured hereby, imnediately due and payable Whether or mt
such defeult is subseque~tly remedied by the Borrc~rer. The Lender shall heve the right to apply a?ry amounte
tecdered by the Borrow~r toward any u~debtedn~s of the Borrower to the I~der axl the Le~der may, at its optian
also proceed to i~diately foreclose this m~rt~ge and pursue atry sixi all le~l or equit~ble re~oedies availPble
to it ad upon such forecloaire to force a sale of the property enaumbered hereucder withaut ~raiver of acry right
to collect a deficiency subsequent to such sale.
19. I~ndex ia Aosse~aian• Upon acceleration ucder paragraph 18 or aba~orn~zt of the Prc~perty, Les~der (by
judicially appoint~i receiver) shall be entitled to enter upon, take possessivn of and man~e the Property ad to
collect the rents of the Property including those past due. My resnts collected by L~der or the receiver shall
be applied first to pay~aent of the costs of m~~gmwnt of the Property and collection of r~?ts, including, but
ciot limite~d to, receiver's fees, premiuas on receiver's bonds and reasa~able attorneys' fees, atd then to the
sums secured by this Security Instniment.
20. Bieles~e. Upon payment of all sums secured by this Security Instcument, La~der shall release this
Seairity Inatrum~?t withaut charge to Bc~rr~r. Borrawer shall pay any recordatian costs. ~
21. Atto~t~ys' Feee. Lader shall be entitled, in camection ~rith ~ursuic~g any of its rem~dies arising
herauider, under the note seaired hereby, or a[ laW or equity to collect all expenses incurred by it includicxg
~ but not li~ted to reasonable attorneys' fees a~d costs which shall include atry attorneys' fees awarded by an
appellate caurt.
22. 8idets to this Seourity Ia~tra~at. If one or m~re riders are exeouted by Borraa~er acd recorded
together with this Security Inatrum~t, the cwenaits ad ~greements of each euch ri,der shall be incorp~rated
into ard shall ~nerd arr1 supplement the cwenants and agreanents of this Security Instcum~?t as if the rider(s)
~ were a part of this Security Instrume~?t. (Check applicable b~c(es)~
X Cam~ercial Adjustable Rate Rider Condaminium Rider
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~ Planned Unit Development Rider
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~ X Other(s) [specify] Assig~ent of Rents Rider
~ SY SIINING BEIDW, Borrc~x accepts acd agrees to the te~os and cwaiants contairted in this Security
Instrumait and in any rider(s) easecuted by Borrow~r ad reconied with it.
Sigred, sea1~3 and delivered in the presex~ce of:
~ JE11D0, IlVC., a Florida corporation
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. J t E. Tiernan, Secretary Jan t E. Tiernan, President
FLIGHf TRAIIIING, INC., a Florida corporatioq,.
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= G. Stevens Lyshai, retary th E. Waters, President
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~ ~ ~~0534 PaEE097~
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