HomeMy WebLinkAbout1512 20. That Mortpagor will not permit any other I~ena to be f~led ayainst the said premises and i1 any such liena a~e filed whathar paramount or subflr-
d~nate to thls mortyage, MortyaQor wi11 hava or causs 1o be had aaid liens discharped immed~atey.
21. Morlpapee sf?a11 have the right to charfla MortOeqors account with Mo~tflapee forthe interest and princ~pal payable as prowde~ in the prom~ssory
note as such becomes due in ecco~dance therewith.
22. I1 tha Mortpaflae requests, Mortq~yor hereby covenants and sprees that Mortpaqw w~11 turn~sh tAe Mortpapee an~usly trom the date of ths
moRqaye ~natrument, unless aome other dats is ap~eed to behwsen the parties i~ writinp, acertified audited fina~ciat stat~nent of the I~AoApaflor and annual
complete operatinfl statements of Morlpafla. lt the Mo~tflaQors tiscal or calendar year sha11 nat coincide with the date hsrefn spscNied, tAsn tha date which
the MatqaQee shall spaciy aAall bs controlllnp. MoK9s9or st~atl suppty Monpsp~ewitA such otl?er tinanci~f st~tements aa Mortpapee msy trom tims to time
reqwst.
23. It ia a9resd that nolhmfl herein conta~ned nor any transeclion related thereto ahall be const~ued or so opatate aa to require the MortpByOr to pay
inlereat at a rate preater than it is now lawful in such case to contract for, or to make any peyment or to do any act contnry to law, that H any clauses or
provisiona herein conta~ned operate or would pcospectively operale to i~validate this Mortpape or said Nots in whote or in part, then such clauses and
~+rowsions ony shall te hald tor nauflht, as thou~h not herein containsd, and tAs remaindsrof this Mortpaqe ahall remain opsrativs and in full force and effect.
24. If ell or any part ot che moNqaQad property ahall bs damaqed w taken tArou~A condemnation (which term when used i~ this mortsape shatt in-
cfude any damafle or takinq Oy any qovernmental authority, and anY transter Dy privaie sale in Ibu thereo~, aither femporarily or permanenty, the entire i~-
debtadneas secured hereby shall, at Me option d the Mo~iqaq~a become 4mmediatey due and paysble. The Moripa~ee sha11 be entHled to sU compensat~cn,
awards, and other paymsnts or relief therefor and is hereby authorized at its option. to commence, appear in and prosecute, in its own a the Mortpa~ors
name, any action or proceediny rslat+np to any condsmnatior~ and to aettte or comptomise any cla~m in connection therswith All such compensation,
awards, dama~es, claims, ~phts of actian and Woceeds and the rpht thereto are hersby assqned by the Mortgapor to the Monsasee, w~o, after deducttnp
therehom atf ita expenses, includi~q ~ttomsya fses, may release any monlsa so received Dy It without aHectinp the lien of this mortpape or may appy the
sams in such manner ss tM Mort~aQee ahaN determine, to tha reductiort d the sums secuied hereby, and to any prepsymant charpe herein provided, and a~y
balance of such monies then remainin~ shall be paid to the MortqaQa. The Mortqaflor aprees to execute auch fuAAer asspnmenta of any compensetions,
awards, damaqes, claims, rpAts o! action and prxeeds as ths Martqaflee may requi~e.
25. In the event this mort~aQe is junior and interiot to any other mortysqe and/o~ lien on the above-desCribed real property, and thia mortflaye is fliven
with full knowledqe ot suCh auperior mortQafle and/or lien, that aaid supe~ior mat4aqe and/or lien willbe paid by Mortpa9or in accordancawith the terms snd
cond'Aions thereof without tegard to any grace period as contained therein and failure fo make aaid payment will constitute an automatic default in this mort-
gage and the whole of said principal sum sscured !?ereby shall immedistey become due and payab?e at ihe option ot the Mort~a~ee. Additionaly, the delault
in the perfo~mance ot any of the terms, prov~aions, Covenants, or aflreements Gontained in any supe~ior mostgage and/or lien, or ihe comme~ce~ment of any
action toforec{ose any said superior mwtgage and/or lien, shall constitute an automatic delault in this mortpaqe and the whoie of said principal aum secured
hereby shall immediately beCOme due and payabte at the option o1 the Mortgagee.
26. This mortgaye ahalt be construed as a security agreement under the ~lor~da Umform Commerc~al Code.
27. Other provisio~s:
'S~0 JAN 24 AIO :33 .
1020968 ~
F Il: i ti" ~,:L
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IN 1NITNESS WHEREOF, the Mwtgagor has executed these presents under seal the day and year t~rst above wntten .,<<-«..;.;
.~.~a~~is' d_' .
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PACE 2000, INC. ,'j'`. ~ 4`~'•~ - s=' ' tSsaq
a or a orpora f~:@a~awer
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f - BY : -~,r y ~ r~"`~ ~sean
~ Harvey oe nen, res etit,,, Borrower
.
~
k INDIVIDUAL ACKNOW4EDGEMENT ,
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5'aTE OF ?
~ :ss
~OUNTY OF ?
E The foregoing inst~umant was acknuwledged betofe me this day ot .
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! ~ g , by and _
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€ ?1y Commission ezpires-
~ NOTARY PUBIIC
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r CORPORA7E AGKNOWLEDGEMENT
E
' ~;TATE OF ~ORIDA ~
: ss
.;ouNrrOf ST• LUCIE ~
16th JANUARY
The foregoing instrument was acknowlec+ged before rte this day ot .
90 b HARVEY KOEHNE2~~ ,~,,r~ and .
Y
-~=spectiveiy ' ~ President and Secretary of
pACE ~ 2~~;~4`, ' FLORIDA
• , a corporat~on. on behalf
~ ~ :
ot satd cor . =~vOr~: - .
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„y Commi~C~cp~t~: •i
`~`~J,= { f ~ NO PUBLIC
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~ ~ - e~K674 PA~~1512 3
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