HomeMy WebLinkAbout0717 20 fhst Mortgagw w~ll not psrmn any other Ifens to b~ tilsd apamst the said prsm~ses and ~i any such hans ars hlbd, whether paramount or supa-
d;nate to this mortg~qe, Mortgagor will have or causs to be had sa~d I~ens dischsr~scf immediatsly.
21. Mortgagse ahall have the nght to chargs Monqagor's account w~tA Mongaflee for the intsrest snd pnnc~pat paysbls as provided m tAe promissory
note as such becomes dus in accordance thersw~th
22. If ths Mongagea requssts. Mongaflor hsreby covenants and agrees thst Mortpagor wi11 furnish the Mortgsges annually Irom the dste oi this
n,ortSags ~nstrumenl.~unlass soms other date is a~resd to bstwesn the psrties in wr~tmp, a cert~f~ed aud~tsd f~nancial statement oi the Mortgagor and annusl
complete operating statements o( Mongagor If the Mon~a~or's fiscal or calondar year shsll not co~ncids with ths date here~n spec~f~ed, then the date whicA
che Mongagee shall sp~c~fy shall be controlling. Mongagor ahall supply Mortflages with such other tinanc~al statementt ss Mdngagee msy from time to time
request.
23. It is agreed that nothing harein contamed nor any transaction related tMreto shall be construed or so operate as to rsQuira the Mortpapor to psy
~nterest at a rata greatar than it is now lawtul in such case to contract for. or to make any paymsnt or to do any aCt contrery to Isw: that i( sny clauses or
prav~sions harein cantainad operate or would prospectivsly opsrats to invalidate thia Monpa~s or said Note in whole or in part, thsn, wch cleuses and
prov~s~ons only shall be held for naught. as though not hsrein contained. and the remainder of this MongaQe shsll rsmain operat~ve and m full torce and sftect.
24. If all or an ~
y part of the mortgaged property shall be damaged or taken through condemnat~on Iwhich term when used in this mongage shall in• i
clude any damage or taking by any governmentel authority, and any transfer by pnvate sala in lieu thereo~. either temporanly or permanentty, the entire in-
aebcedness secured hereby shall at the aption o( ths Monga9ea. become immediately dus and paysble. The Monfla~ee shall be entitled to all compensation I
awards. and other payments or re6ef therefor and is heroDy authorized. at its option. to commence. sppear in and prosecute. in its own or the mort~agoi s ,
name. any action or proceeding relating to any condemnation. and to sattle or compromiss s~y claim in connection therew~th. Ap such compensation.
awards. damages. cla~ms. rights of action and proceeds and the right thsreto are hereby assigned by tha Mongaflor to the Mortgagea, who, aher deductin~
cnereirom all its ezpenses. mcluding attorney's fees. msy release any moneys so recened by it without aHecting tha lien of this mortgage or msy apply ths
same in such manner as the Mortgagee shall determine. to tho reduction o1 the sums secured he~eby, and to any prepayment charQe hsrein providsd. and any ~
balance ot such moneys then remaimng shall be pa~d to the Mortgegor. The Mortgagor sgrees to execute such (urther assignments of any compensetions.
awards. damages. claims. rights of action and proceads as the Mortgagea may reqwre.
25 Th~s mortgage shall be construed ss a security agreament under the Florida Umform Commerc~al Code.
26 Other prows~ons
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