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9. If the mortgagee ehall default i~ making any required
payment of principal or intereat under the first mortga4e, ~he ~
mor~gagor shall have the right to adva~ce the ~unda neceesary to
cure tha~ ~default and a],1 funds ao advar?ced by the mortgagor,
together with intereet at the highest ~awFul rate chargeable under
P'lorida laW, shall be credited aga?in+et the next installme~t(a) of _
intereat and pr~ncipal ~due under the note eecured by thia mortgage. .
Nothing in thie mortgage sha11 be construed as an election of, or
limitatio~ on, the mortgagor's legal or equitable remediea ahould
the mor~gagee so'default. ~
lt~. The mortgagor shall have the right to prepay the.whole or
any part of the unpaid balance of the indebtedneas unaer this -
mortgage at any time on 30 days' notice Without penalty or premium
under thia mortgage. If the mortgagor prepays the whole of the
unpaid balance~ the mortgagee ehall reait to the first morkgagee out
of the prepayment fu~ds the unamortized prir?c~pal ba?lance of the
firsk mortgaqe, together -with accrued interest, provided that the
mor~gagor shall pay alI prepayment penalties or charge8, if any,
required by ~he firet mortgac~ee for prepayment of the first
mortgage. A~y partia2 prepayment ~stt~all be applied against the
sums last payable under thie mortgage.~---if the amount prepafd
exceeds the. amount determined, by aubtracting the then unpaid
principal bala~ce° af the firat mortgage from the then ~npaid
principal balance under thia mortgage~~that excess amount ahall b~
remitted to the firat mortgagee by the mortgageer providec~ that the
mortgagor shall pay all prepayment penalties or charges, if any, _
required by the firat mortgagee for prepayment of the first
mortgage. ~
11. The escroW account charges for taxes and insurance charged
by the first mortgagee ahall be paid each month to the mortgagee by
the mortgagor vith, and in addition to, tihe regular month2y payment
of principal and intereat made under this mortgage. The mortgagee
shall remit those escrow _payments to the first mortgagee .with i~s_
monthly payment of principal anc~ interest under the first mortgage.
12. The mortgagor and the mortqagee covenant and agree not to -
enter into any agreement with the holder_ of the first mortgage
modifying or amending. any of the provisions dealing vith payment of
' principal or intereat under the first mortgage vithout the prior
~ written consent of the other. The mortgagor and mortgagee agree
i that no funds Will be taken down unc3er the future advance provisian
of the firet mortgage unless.those funds are~entirely applied in
reduction of thia purchase money second mortgage.
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~ '87 ~G -1 P 2 :34 ~ -
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. BaaK 56fi PACE 9~~r
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