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10. CONTINUED FROM~FRONT PAGE OF DOCUMENTt -
the lien coverin all of the remiaes deecribed herein created
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by thia mortqage in favor of Mortgagee. ~
Any conveyance of the property herein described or any part
thereof in violation of the terms of this paragraph~shail entitle
Mortgaqee to accelerate the paymer~t of the~obliqation secured, '
hereby and all aums of money secured hereby ahall at the option .
of the Mortgagee, become due and payable and in default whether o
not the same are so due and payable and in default by the epecifi
terms hereof. ~ .
11. Any default by Mortqagor in perfor~mance of his obliqa~ti s
under the terms and conditions of the Escrow Aqreement, Security
Agreement, or Right of Firet Refusal, enter~d~into between Mortqh r
and Mortqagee of even date herewith shalt--c~netitute ~+nd be deem
a default under the~terms and conditiona of 'thi~s Mortqage: ~
12. This mortgage is subordinate to and wra~ps around that
certain.mortgage given by Mortgaqee to The Equitable-Life Assuran
Society of the United States, dated January 9, 1978, recorded in
O/R Book 280, page 1403, public records of St. Lu~ie County,Flori ,
havinq a present approximate principal bala?rice"o~ $320,000.00.
Mortgagee shall make all paymenta on saicl mortqage and shall keep
~aid mortgaqe current and in good standing.' In the event of any
default~in any payment or condition of said mortgage, Mortgaqor
shall have the.rfqht to make such payment or cure such default an
any funds advanced to cure such default shall earn inerest at the
hiqhest rate allowed by law. .Further, Mortqaqor~shall have the
right to offset any advanced amounte~toqether with~intereet agnin
any payments due Mortqaqee, by Mortqagor hereunder. ~
~13. In the event of a foreclasure of this mortgaqe ancl if a .
deficiency judgment is obtained.by Mortgagee, the Mortqaqee sh~all
only enforce the defio~.ency against each beneficiary or co-tenant
~ to the extent that the ~eneficiary.or co-tenant'~ proportiof~ate :
interest in the proper~~y bears to the defici~ency. _
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