HomeMy WebLinkAbout1789 @1i22~90 13:09 GUNSTER-BOCA ~
ccvenant, the Sacurod Indabtedness ~h~ll, et the Option Of the
Mortqaqat, become immediately due end pay~ble.
P?ATICLE II - RSpi~SBSIiTaTIO B OF THE MORTG1~lCsOR
8ection 2.1 ar nty n~~a
The Mortgayor werrants Lhal: (i) tha Mortgagot h~lS qOOd,
absolute and markatable ~ea aimple titl• to tha Mortgeqed
Frop~rty, and is lawl~ully an~ itic3efeasibly aeized and pos~eaeed
4# the ldye~l and benefi,c;iel title lo the Mortgag@Q property;
(ii) th~ Mortqeged Property ia unenCUmbeied end unrestricted
eacept ~s may be herein e:~resaly provide4 in EahiDit "B"
attachcd her~to; ~iii> thi~ Mortgage is anA will remain a valfd
and ~nfor~caable firat lien on the Mortqaqed Qroperty; ~n~ (iv)
t~~~ Mortge~qor will Eoc~ver werrant and detend the title t0 the
Mvrtgaged Property to the Mortqaqee against the cl~ims Of all
per3on~ whomeoever. F~r purpoaes o~ thit~ WBrtanty, rQCOrd
~ notice of any ti~le cletect shall not con$titute notice to the
Mortga~ee unless such encumbrancc~ or restriction f.a set fOrth
i on Exhibit "8". The Mortgaqor affirmatively warrants that the
~ public recorda show only those defects to its qood, absolute
~ and marketable title to the Mortgaged Property as are shawn on
€ Exhibit "B" and recognize~s that the 1~ortgagee is actinq in
f relience upon this warranty. Any in6ependent investigation by
the Mortgagee of any fects warranted above shall in no way
; diminish the reliance by the Mortgaqee upon the warranties made
; by the Martgagor herein.
~
~ sQCtion ~ . a ~~doua ~Y,~a
~ The Mortgagor ~apreasly re~resenta, covenants and wBXrants
~ to the Mortgaqee that there is not prasent on the Mortgaqed
~ Progerty and the improvements thereon do not contsin any
~ h~zardous wastea or hazardous substencea (includ~nq asbeatos)
~ and that the Mortyaged Property ia not now beinq used nor will
the Mortgaqe~i Property in the ~uture be used for the hendlinq,
~ storage, treatment, transportation or ~ispoaal of haaardoua
~ wastes, other than the violations and indica~tiona set fQrth fn
those certain environmental reports prepered by Ard~man b
Associates, Inc. anc~ SNJ Enviro&erviCe, Inc., respectively, and
delivered to the Mortqayee. The Mortgaqor aqreea to indemnify,
, d~fend, and hold the MQrtqaqee harmless trom anA ageinst any
' loss to the Mortqagee, ~nclu~inq without limitation attorneys'
fees (includinq appellate, bankruptcy ana poat-judqment
proceedings), incurred by the Mortqagee as e result of such
presence or content or the present or future use, handlinq,
storage, transportation, treetment or disposal of hazardoua
s wastes or hazardous substances, includin4 aabestas. in the
~ event of a violation of the covenant and warrenty containod in
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~ ~,6`~5 PAV~~789
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