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Home My WebLink About1657 u;j~ai vi~t~ ii~ insurer any loss un6er any suCn pp~~cy~ and any such aAjustment snall bs conciuslve on the Nortgegors. Mortgagee shall ~ave tne rlght to receive and collect all proceeds pald on any c1aiT under eny such poi icy. to endorse tne W~tgagors~ names to any c?~eck or othar Instrunent ot payment~ . anA to apply such proceeds In payme~t of any amount due under tA1s mortgage and tAs note secured nereDy and any expenses Incurred by i~b~tgagee in processl~g any clalm unAer any sucA pol lcy. Mortgagee snall pay to the Nprtgagors tAe Dalance of ihs proceeds. If any, re~nalnirg after ths atoresal0 deductlons. ~ Nothing contalned he~ein sAall Impalr or abrogate the rlght ot tne Nortgagors to procure Insurance trom ' an agent or caepany ot thelr orn selectlon as provlded In tAe Insurance lars ot tAe state ot Florida. + S. To pay al l anG singular tne costs, charges and expenses. Incl ud Ing attorney~ s tees epual to the greater ~ ot 51,000 or 10~ ot tAs unpeld prlnclpel balance of sald pranissory note If reterred tor collectlon to an attorney noi a salarlsO en,p~oyea ot the nbrtgagee~ and oost of abstracts ot tltle. Incurred or pelA , st any tl~ns by Nortgagse because of tAs tallure o~ the pert of the Mortgagors to pertons tho coM Itlons and covenants ot sa 10 pran I ssor y note or of tn I s mortgage. 6. To p~r~lt. cann~lt or suffer no raste. Impalrment or Aeterloratlon of sald propsrty or any part t~ereot. to kssp ana malntaln the se+ne. Including all bulldings now or nereatter sltuate on sald pre~nlses, In good conA It lo~ and repa Ir ~ and proaptl y to make and per torm at the Mortgagor s' orn expensa, such r~palrs and n~alntenances as Mxtgagee may trae ilme to tl~ne requlre. ?brtgegee being NereDy n~ads tha ? wls Judge ot tAe necessity theretor~ ~7. To place anC mntlnuously keep in tull force and effect tAe Identlcal insurance coverages ~rAich rers In ~ eoclstence at ihe tln~e of tne eocecution of tAls ~nortgage and ths pramissory nota secure0 Aareby, rhstAer < suc~ coverages were requlred as a condltlon precedent for this transactlon or rrere p~ocured solsty at ~ the electlon of tAe mortgagor. At t~e option of, and rltA tAa wrltten consent ot, the Mortgagee. sln~ilar or other coverage or caverages ~nay be subsltuted for e~c~sting Insurance. Notl+ing Aerein contalned sAall in~palr or abrogate t~e ~Ig~t of the Nortangors to procure sueh pollcy or pollcles ot Insurance frpe an agent or canpany ut tAelr orn selectlon. . In tAe evant the Mortgagors shaii tall !o canply vith any covenant corrtalned In paragraphs 2,3,4,5. or 6 Aareof, bbrtgegee may (but Shall Aave no obllgatlon to) perfo~n~ such covenant on Dehalt ot tAe ~ Mortgagors and the full emount ot everY payment ~nade by Nortgages In such connectlon shall bear Interest at ths sa~?e rate as tha obl igatlon secured by tha I len ot thls mortgage fran the date so peld and shal! De secured bY tAS Iisn of thls n~ortgage. Mortgagee shall also have the optlon to effect tlre and eoctended aovxags I~surance In an amount sufflcient tras time to tiee to discAarge thls ~ortgage and the note secured Aereby and the Mortgagors shall Aave no Inierest In suc~ Insurance. otAer tAan thelr Interest In sucA dlscMrge. and the full amount of every parnent n~ade by 1~brtgagee for such Insurance shail bear Interest at tAe same rate as the obligatlon secured Gy the Ilen ot this mortgaga from tAe date so pald and sAall be secured by the Ilen of thls mortgage. 9. That (a) In the event of any such breach of thls inortgage or a~y ot the terms hereof or default on the part of the Fbrtgagors, or (D) In the event any sums ot money referred to hereln be not pranptly and fully pald as the same becane due and payaDle, or (c) In the event of Gefault in the paya~ents under t; sa10 promissory note; then tAe princlpal sun set out In sald pranissory note then remaining unpalA. and all money secured hereDy~ shall becrn?e and be immediately due and payaDle at the optlon of Mortgagee wlt~out notlce or demand (rhich are hereby expressly waived)~ and this mortgage may be forectosed rfth al I r Ights and renedles af forded Dy the lars of Flor lda. Incl ud Ing the appolnfinent of a recelver. I f _ applted tor by hbrtgagee~ In the event that Fbrtgagee shali declare tAe principal sun set aut In sald pronlssory note then renaining unpald. and all nwnles secured hereby, In~edlately due ar~0 pnyable. the Fbrtgagors shail Immedlately pay to Mortgagee an amount equal to the amount at whlch thls note coulA then larfully be prepald plus any otAer monies secured hereb . =b'e'~~~, 10. Na 8elay by Rbrtagee in exercising any rfght or ren~edy Aereunder shal l operate as a waiver thereof or preclude the eocercise tnereof during tAe contlnuance ot any default Aereunder~ No Malver by Mortgagee ' - ot any default sAall oonstitufe a ralver of or consant to subsequent defaults. ~ 11. Thls n~tgage and tAe note secure0 Aereby constitute a Florida contract and shall be construed ` - acco~ding to the lars of t~at siate. r 12. If all or any part of the property or en interest hereln Is sold or transferred by MxTgagor ritl~out ubrtgagee~s prlor vritten conse~t; exciudlrg a trnnsfer by devise, descent ar by e~+er~tlon of lar u~+on tt~e death of a Jcint tenani or tha grant of a~y leasehotd Interest of three years or less not contalning an optlon to purchase, Mortgagee may, at Mortgagee~s option, declare all tAe su+~s secured by this hbrtgage to be Immedlatley due and payable. Mbrt ~ ' I f pr lor to the sal e or transfer, Nortgagee and the pe son nto rhan the property~lis nto~ be cso d aor i _ transferred reach agreement in rriting that the credlt of sucA person Is sat~sfactory to hbrtgagee and ~ , t~at the Interest payable on tAe su~s secured by this mortgage sAall be at such rate as Mortgagee shall ~ ~epuest~ If Mbrtgagee has rralved the optlon to accelerate provlded In thls paragraph 12, anC If ~ Mortgagor~s successor In Interest Aas eocecuted a rr Itten assu~pt ion agreement accepted in xr It Ing by Pbrtgagee, i~brtgagee sAall release t~brtgagor tran all obligatlons under this Mbrtgage and the Note. I The covenants and agreements contalned In tAis mortgage shall run wlth tAe land and bind Mortgagors, tAe f helrs, personal representatlves, successors and assigns of Mbrtqagors and ail subsequant orners. encunbrances, tenants and subtenants ot the premises, and shal i enure to the bene4lt of the Kortgagee~ tt~e successors and asslgns ot the Mortgagee and a!1 subsequent holders of thls mortgage. ' IN MITNESS MHEREOF, t Fbrtgagors Aave eocecuted thls Instrunsrtt under al tAs day end y~ar flrst abovs i xrltten. ~ f Slg eC, led and dellver ~ , ~ I n tw nc ~ pf, ~ (SEAL1 ~ v i r ~ (SEAL) ~ r ~ STJtTE OF FLORIDA (SEA~) a ss.: ~ COUNTY OF Palm Beach (SfJ1U Before me personal ly appeared Robert L. Luk~e ar~d Cheryl D. LUke 4o m• net i knovn and knorn to ~ne to be ths Ind Iv Idual S descr Ib~C In and viho execufed the toregoing Instru- ment, and acknowledge0 betore me Shat they exacuted the sane tor tt~e purpose thereln expressed. u~'y 90 MITNESS my han0 end offlclal seal thls 26th day of 3~ ~ ~q ~ S . ~ '~/0 JAN 31 A10 :2? . ~ ~ - ~ ~ ~ ~ ,~.~,G~. ~~~c.c,~--~ ~U22~f8d - ~ - . r~ - - tary PubJ tc, fit s ot Flor la• st' la~ ! {L[ _~r~ ?il Ri i I . ~ . ~ ~ ~ ~ . MIy crnrwlssiat~ icplr~s: ~a -2 L - -r1 / • ~OUG' ' ~ z ~H ~ • S1 E.!.~~:', , . ~h; `.c- :F`. . , - J . , . . } BOCK U~5 PA~E1657 ` f~i?~.~~ Arnc~riru~i Ti~lc~ Cuni~~u~n• r,j~ Fl~,riclu, I~~ J ' 1.0p PG4 BOV! EVARD SU~TE 302 • PA~M BEACH GARDENS. FLORIOA 33at0 ~ ' . _ - _ _ _ . . ~ ~ _ . a3r~.`~'~',~=~a~-~'~~'~ --°e'~~