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21. The I~ian represented by this MoNgage and the Note i~ penunal to the R1angagor and the Mang~gee made i
thc loan to the Mortgagor based upon the credit of the Mongagor and the Murigagee's judgement of the abiliry of thr ; ~
Martgagor to repay all sums due unde~ this Mortgage. and therefor~e this Mcirtgage may ~at be assun~ed by any subse- ° ~
quent holder of an interest in the Mortgaged Property. lf all or any part of the Mongaged Propeny, or any interest ~here-
in, is soW. conveyed. transfeRed (including a transfer by agreement for deed or land contracU or further encumbered by ; I
Mortgagor without Mortgagee's prior written cunsent excluding the grant of any leasehold interest in thc Mortgaged
Property nat containing an optian ta purchase. which lease is made in Ihe ordinary course ot Mortgagor's business, then
in Ihat event Mortgagee may declare all sums secured by this Morigage immtdiately due and payahle. t
24. M~~rtgagor represents and warrants that if a corM~ration, it is duly organized and validly existing, in gaxl ~
standing under the laws of the state af its incurpura~ion, has stock autstanding which has been duly and vatidly issued,
and is qualifed t~~ do business and is in gooci standing in ~he State of Florida, with full ~wer and aulhority In consum- ?
n~ate the loan comtemplated hereby; and, if a partnership, it is duly formed and validly existing, and is fully qualified to
do business in the State af Florida; with full power and authority to consummate the loan comtemplated hereby. i
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25. In the event any one or more of the provisions co~tained in this Mortgage or in the Note shal! for any rea- ~
sun t~e heW to br invalid, illegal or unenforceable in any respert, such imalidity, illegality or unenforceability shall, at
the option of the Morigagee. not affect any other provisions of this Mortgage, but this Mortgage shall be construed as if ;
such invalid, illegal or unenforceable provision had neve~ been rontained herein or therein. The total interest payable
pursuant to the Note or this Mongage shall nut in a~y one year exceed the highest lawful rate of interest permitted in the
Statc of Ftorida.
26. The covenants and 'agreements herein contained shall bind and the benefits and advantages shall inure to
the respective heirs, executors, administrators, successors, and assigns of the parties hereto. Wherever used, the singu-
lar number shalt include the plural, the pfural the singular, and the use of any gender shall be applicable to all genders. All
cover~ants, agreements and undertakings shall be joint and several. ln the event additional numbered mvenants or paragraphs
are for convenience inserted in this I~lortgage, such additional covenants shall be read and given effect as though following this
co~~enant in consecutive order. ~
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- IN WITN~SS WHEltEOF, Mortgagor has duly executed this M gage as of the date fi above written.
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~ ~ Ernon i~daway, ~ III ;
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t . x - - ie :-~idaway - =
~ A~'E$"~.~;1:- - BY Y
~ ~ f ~ _ Secretary ~
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. ~ ~C~ORPORATESEAL) •87 I'IP,R P3 ; i
. 28
~ ~ 813438 F'~~=:
; STATE OF FLORIDA Q~U~; ' '
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~ St.Lucie S~•
COUNTY ~F ~
r The foregoing instrument was ackni~wledged before me this 13th ~ay of _ ~rch ~y 87 by
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~ R. Ernon N. Sidaway, III and Debbie S. Sidaway ~
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; (NOTARIAL SEAL.) ~ ~ ~ ` ~ ~
. ~ Notary Pubtic -
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• Mycommissionexpires: ~pTART auBtlC S1ATE Of FlORIOA
MY C01111[SSIOM E1cP 1UME 15.1988
BOIOEO i1tRU 6EIERIII IiS. UID.
STATE OF FLORIDA_ ~ ~
) SS:
COUNTY OF ~
The foregoing instniment was acknowledged before me this day of ,
t9 , by as the
~f ,a _ corporation,
on behalf of the corporation.
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Notary Public i
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_ ~0~35 PI1~0964
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