HomeMy WebLinkAbout0976 3.02 Warranties Re reaentatione and Covenants of
~ MortAa~or. Mortgagor ere y warrants~ represents and
covenanta as follows:
(a) Ezcept for the eecurity interest granted
hereby, Mortgagor is, and as to portione of the Personal
Property to be acquired after the date hereof wi11 be,
the sole owner of the Personal Property, free from any
adveree lien, security interest, eACUmbrance or adverse
claime thereon of any kind whateoever. Mortgagor will
notify Mortgagee of, and will defend the Personai
Property againet, all claime and demands of all persons
at any time claiming the same or any interest therein.
(b) Mortgagor will not lease, sell, convey or in
any manner transfer the Personal Property without the
. prior writt~n consent of Mortgagee.
<c) The Personal Property is not used or bought for
personal, family or household purposes.
(d) Ths Personal Property will be kept on or at the
Premises and Mortgagor wi11 not remove the Personal
Property Prom the Premises without the prior written
consent of Mortgagee, except such portions or items of
Personal Property which are consumed or worn out in
ordinary usage, all of which sha11 be promptly replaced
by Mortgagor.
(e) Mortgagor maintains a~lace of business in the
State of Florida and Mortgagor will immediately notify
Mortgagee in writing of any change in its place of
business as ~et forth in the beginning of this Mortgage.
(f) At the request of Mortgagee, Mortgagor wiil
join Mortgagee in esecuting one or more financing
statements and renewals and amendments thereof pursuant
to the IIniform Commercial Code of Florida in form
satisfactory to Mortgagee, and wi12 pay the cost ot
filing the same in all public offices wherever filing is
deemed by Mortgagee to be necesgary or desirable.
(g~ All covenants and obligations of Mortgagor ~
' contained herein relating to the Mortgaged Property sha11
~ be deemed to apply to the Personal Property whether or
not expreasiy referred to herein.
(h) This Mortgage constitutes a Security Agreement
as that term is used in the IIniform Commercial Code of
Florida.
ARTICLE IV
REMEDIES IIPON DEFAIILT
4. O1 Events of Default . Any one or more of the foliowing
sha11 con$titute a default under this Mortgage and the Notes
hereby secured:
(a) Failure of Mortgagor to make one or more
payments required by said Notes on the due date thereof.
(b) Failure of Mortgagor to pay the amount of any
costs, espenses or fees (inciuding counael fees) of the
Mortga~ee, witY~ interest thereon, as required by any
provision of this Mortgage.
(c) Failure to eghibit to the Mortgagee, within ten
(10) days after demand, receipts showing payment of ali
t~xes, water rates, sewer rents and assessments.
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~oQK 541 P~~E 976
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