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HomeMy WebLinkAbout0965 . . _ . ' " - _ . l~ ' . _ . _ . _ . . _ . . 20. That Me~tgdgor will not permit any other lians to be (iled ayain~i the seid premises and H eny such liens are (~lad, whether naramount ~r st~bGr• dinale to this mortga~e. Mortgagor will have or cause to be ha~ said lie~s dischargad immediately. a ' _ 21. Mortgagee sh@II have the right ta charge Moi tgagor's account with Mortgagec (or the interest e~d principal payable as providad in the promissory note as such becomes due in ~ccordance therewith. 22. li the A4ottg3goe requests. Mortgagor hereby covensntg end ogrees that Mortpagor witl lurnish the Mort~agee annually Irom tt?e date ai this mortgagb instrumant, unless some othe~ date is agreed to between the parties in writiny, a certified audited financi~ statemont ot the Mortgagor and annuel complete operating statements oi Mottgegor, It the Mortgagor's fiscal o~ cslendar year shal~ not coincide with the date herein~'specified, then the cate which the Mortgagee shall specify shall be cont~olling. Mortgspbr shall supply Mortgagee with such ot~~or financial statements as Morlgegee may (rom time to time request. ~ 23. It is agreed that nothing herein contained nor any transaction related thereto shall be construed or so ope?ate as to requi,-e the Mortgagor to pay intetest at a rate greater tfian it is now lawful in such caae to contract tor, or to make eny payment or to do a~Y aCt cont?aiy to law; that if e~y claus~es or provisions he~ein contained operate or would prospactively operate ta invalidate this Mo~tgage or said Note in whale or in part, then, such clsuses and proiisions only shall be held for naught. as though not herein contained. and the remainder o( this Mortgage shatl ramain ope~ative and in (ull (orce and eHect. - 24. If all or sny pa~t ot the mortgagad property shall be dameged or taken through condamnation (which term when used in this mongage shall in- clude any damage or taking by a~y governmental authority, and any iransfer by private selt~ in lieu :hereo(). eithei temporarily or pe~manently, tli~ enti~e in• debtedness secured hereby shall at the option of the Mortgagee, became immediatety due and payable. The Mortgagee shall bs entitled to all compensation awards. and othsr payments or ielief there!or and is hereby authorized, at its option, to commence. appaar in and prosaCUta. in its own or the mortgagor s ~.name. a~iy action or proceeding relating to any condemnation, and to settte or compromise any ciaim in cornection therewith. All such compansation, , awards. damages. c~aims. rights of action and p~oceeds and the right thereto are hereby assigr,ed by tlie Mortgagor to the Mortgagee. who. after deducting there(rom all its expenses. including attorney'siees, msy release any mnneys so received by it without affecting the lien ot this martgage or may appty tho same in such manner as the Martgagee shall determine, to the reduction of th~ sums seru~Cd her8by, end to any prepayment charge herein prpvided, and any balance of such moneys then remaining shall be paid tc+ tha Mortgagor. The Mlortgagor ~grees to execute sLah furth2r assignments of any compensatio~s. awards, damages, c~aims, rights of action and proceeds as ttie Mortgagee may require. . 2~ This mortgage shall be const~ued as a security agreement unde~ the Florida taniform ~.ommercial Code. ' 26. Other provisions: ' - . . . ' . . . . . _ . • . . , ; . . I ~ . - ' ~ ~ . ~ - _ - . . . ~ . aoox3~ . 3 - . . . - , - _ .