HomeMy WebLinkAbout1803 3~i5 3:xi 33b7
01i22;9~ 13:19 GUNSTER-HOCA 0~1
M~rtyay~cl P~u~ertY, or any part thereof, becomea veated in a
person other than the Mort9eqor, the Mortyagee mey deal with
such succes~or or r~ucceaaora in inter~at Nith relesene• to thia
Mortgage, e~nd the Secured Indebtedneaa, rsgardleaa o! any
chai2ge in the torma of the obligetiona creeted hereunder,
wi~houl. in any manner violating or discherginq the Mortgegor'a
iiabili~y hereunfler or upon the Securea inAebteAneaa. The
Mort9aqor shall at all timea continue to be liable !or the
Secured Indebtedness until this Mortqeqe ia fully satiafied or
the Mortgagor is formallY re3eased by an inatrument in writing
duly ezecuced by the Mortqaqee.
Section 4.4 T[an6fei Of COi1~i0I
The tran~fer of controi of the Mortgegor shall be deemed ~o
constitute a~onveyance of titlo subiact to the requirementa
; and restrictiona xmpoaed by Section 9.3 hereof. Tranater ot
! control ahall mean eny ~ale or tranafer after the dete hereof,
~ whether to one or more peraona or entities and whether at one
f or more different timea, of e total o~ more thnn f~fty percent
~ (50~) ~f the outatendinq ahare~ o~ the voting capital sl,ock ot
~ the Mortgagor.
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~ Section 4.5 SecondarY Financinq; Purthgr Bncumbraaces
~
; The Mortgagor will not permit any other liena, mortqaqets or
; encumbrances against the MorLgaged Propeity, exc:espt other liens
~ in favor of the Mortgegec, and excepl es 4i~c:l~sCd in EZhibit
~ "B." If any auch liena, mortgagea or en~umbrdnc~a are
~ xncurred, whether paramounl. or subur~,in~tr to thia MortgBge,
~ eacept as eforeaaid, the Morkgagar will cause such liens,
~ mortgages or encumbran~es to ba diacharqed i~cuurc]iately.
~ without limitiny the forey~ing, shouicl there be a lien sup6rior
~ in diynity to the lien oP thia Mortyayr w~th the Mottgegee's
:
~ ~onaenE~ it i~ ~ovenanted and egr~ed that should the terms ot e
~ lien supexior in di9ni~y tu ttiat ~f this Mortgage be modlfied,
~ eltered or vdried wi~hout tli~ written consent ot the Mortgaqee,
~ or should any lien sup~riut in diqnity to that of this Mortqaye
~ be or be~ome in deteult, ttt~n and in such event the Mortgaqee
may at its option ac~elriate the Secured Indebtedness end
declare the 3ame Lo be all c3ue and payable without notice to
the Mortgagor or eny other person.
ARTICLE V - pEI~AULT
Socti~n 5.1 ~nta.Q~ p~fauli
~
~ Upon the occurrence ot any one vf the followiny events
(herein called dri "Event o~ Default"):
~
~
~
1$ 800K~ i t~ ~~S~Fl8Q3
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