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10. CONTINUED FROM~FRONT PAGE OF DOCUMENT:
the lien covering all of the premisea described herein, created
by this mortgage in favor of Mortgagee.
Any conveyance of the property herein described or any part
thereof in violation of the term.s of this paragraph shall entitle
Mortqaqee to sccelerate the payment of the obligation aecured.
hereby and al1 suma of money secured hereby shall at the option '
of the Mortgagee, become due and payable and in defaul~ whether o
not the same are so due and payable and in default by the specifi
terms hereof. •
11. Any default by Mortqagor in performance of his obligati s
under the terms and conditions of the Escrow Aqreement, Se~urity
Agreement, or Right of First Refusal, entered~into between Mortg~ r
and Mortgagee of even date herewith shall constitute and be deem
a default under the terms and conditions of th'is Mortgage. .
12. This mortgage is subordinate.to and wraps around that
certain mortgage givea by Mortgagee to The Equitable Life Assuran
Society of the Uni~ed 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 balan'ae'~o~ $320,000.00.
Mortgagee shall make all payments on said mortgage and ahall keep
said mortg~ge current and in good standing.' In the event of any
default in any payment or condition of said mortgage, Mortqagor
shall have the.right to make such payment or cure such default an
any funds advanced to cure such default shall earn inerest at the
hiqhest rate allowed b~ law. Further, Mortgagor shall have ~he
riqht to offset any advar~ced amounts toqethex with interest aqain
any payments.due Mortgagee, by Mortgaqor hereunder.
13. In the event of a foreclosure of this mortgage and if a
deficiency judgment is obtained.by Mortgagee, the Mortqagee shall
only enforce the deficiency against each beneficiary or co-tenant
to the extent that the beneficiary or co-tenant's proportionate
interest in the property bears to the deficiency.
. gooK 578 PAGE 93~ ,
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