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22. Mortgagee may make or cause to be made reasonable entries upon
and inspections of the property related to its interest therein at reasonable
times.
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23. F~ccept for any notice required under applicable law to be given
in another manner (a) any notice to Mortgagor provided for in this Mortgage
shall be given by mailing auch notice by certified mail, return receipt `
requested, addressed,to the Mortgagor as fallows:
Harbour Ridge, Ltd.
c/o Harbour Ridge, Inc., General Partner
John B. Dodge, Yresident .
Post Off ice Box 2451
Stuart, Florida 33495
or at such other address as Mortgagor may designate by notice to Mortgagee as
provided herein; and (b) any notice to Mortgagee shall be given by certified
mail, return receipt requested, to Mortgagee's address stated herein, or to
such other address as Mortgagee may designate by notice to Mortgagor as
provided herein. Any notice provided for in this Mortgage•sha12 be deemed to ~
have been given to Mortgagor or Mortgagee when given in the manner designated ~
herein.
- 24. In the event of default by Mortgagor under any obligation
constituting a lien prior hereto, Mortgagee; at its option, but without any
obligation to do so, may take whatever steps that Mortgagee deems neCessary to ~
cure the default in such obligation and any and alI monies expende@ by Mort-
gagee shall be secured by Lhe lien of this Mortgage, the same as the sums of ,
money regresented by the Note which this Mortgage secures, and such monies so
expended shall bear interest at the default rate and shall be immedistely due
and payable. In the event Mortgagee cures such a default under any obligation
having a prior lien, such shall nat constitute a cure of the default hereunder
except at the option of the Mortgagee.
25. If any installment of principal or interest of the said Prom- ~
issory Note ar any of the sums of money herein referred to or secured hereby, ~
be not fully and promptly paid within fifteen (15) days of when the same .
severally become due and payable, or Mortgagor shall fail to perform, comply i
with and abide by each and every the stipulations, agreements, conditions and
covenants ~
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a. in said Promissory Note (other than for the
payment of money) and this deed set forth, which sha11
in all events control in the case of conflict with the
provisions of the following items b. and c.;
b. in the letter commitment for mortgage loan
from Mortgagee to Mortgagor dated May 19, 1987,
and accepted bv Mortgagor on June 1 , 1987, and;
. c. in the Construction Loan Agreement by and between
Mortgagor and Mortgagee dated June 30
, 1987; (hote: If no date is inserted
-no Constraction Loan Agreement exists between
- Mortgagor and Mortgagee);
copies of a11 of which are on file and available for inspection at the offices
of both Mortgagor and Mortgagee, within thirty (30) days of the giving of
written notice by Mortgagee, or sha11 fail within said thirty days to
diligently undertake cure which 3s reasonably calculated to succeed, then the
aggregate sum mentioned in said Promissory Note, or such part thereof as shall
then be disbursed, shall become due and payable forthwith or thereafter at the
option of the Mortgagee, as fully and completely ss if said aggregate sum of
money was originally stipulated to be paid on such day, everything in said
Promissory Note or herein to the contrary notwithstanding, the Mortgagor
hereby waiving any right of homestead or other exemption granted by virtue of
the laws and Constitution of the State of Florida.
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~ooK 548 P;~f 974
.