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HomeMy WebLinkAbout0218 - . ~~!K 57 i'1~2J.6 " ~'''' LUCIE cjuHn. fLA.' of a :-eceiver, assignee or trustee, or upon failure of the Mortgagor to keep or perform any of ili'"';ter~l;s covenants conditi'lns, agreements or stipulations of this mortgage, the ~ntire indebtedness hereby secured sl;all immed: iately, or a~ any time there...fter, at the option of the Mortgagee, ~me and be due and payab:e, and the equity of rffiemphon of the Mortgagor may thereupon b~ foreclooed, or the Mortgagee may, at its option, foreclD8e only a!l to the sum past due without accelerating the entire debt, and with0ut injury to this mortgage or the displaceme~t or impairmel.lt. of !he rema!nder of the lien hereof, and at such foreclosure sale the propt'rty shall be sold subject to all remallllllg .temll of md~btedness payable under this mortgage and the note secured hereby and the MortKagee may again foreclose in the same manner as often as there may be any sum past due, ' In the event of a suit being instituted to foreclose this mortgage, the Mortgagee shall be entitled at any time pending such foreclosure su:t to apply to the court having jurisdiction thereof for the appointment of a receiver of all and sin~ular the mortg-aged property, and of till the rents, issues and profits thereof from whatsoever source derived; and thereupon the court shall forthwith appoint a receiver of said property and of such rents, i88ues and profits, with the usual powers and duties of receivers in like cases. Such appointment shall be made by such court as a matter of strict right to the Mortgagee and w;thout reference to the adequacy or inadequacy of the value of the property hereby mortgaged or the solvency or insolvency of the Mortgagor. Such rentE, iSSUES and profits shall be applied by such receiver to the payment of the proper and reasonable charges and expenses of such receivership and the remainder to the payment of the mort- gage indebtedness, according to the order of such court. This mortgage is intended by the parties to secure, and does and shall secure the payment, fully and completely, of any and all sums of mone}' herein described, and of any and all extensions or renewals, with intere:.t thereon, of the aforesa,id promiss:>ry note, or any instalment of principal or interest thereof, and any 8~ch extension or renewal shall be suuject to all of the covenants, agreements, conditions and stipulations contained in this mortgage. Th~ Mortgagee ghall be entitle-..1 to enforce this mortgage and to exercise its rights and remedies hereunder notwith- standing that some or all of the indebtedness hereby secured is now or shall hereafter be otherwise secured, whether by mortgage, pledge, lien, assignnent or otherwise. Neither the acceptance of this mortgage nor the enforcement thereof shall prejudice or in any ma..lcr affect the right of the Mortgagee to realize upon or enforce any other EeCurity now or hereafter held by the Mortgagee, it being understood that the Mortgagee shall be entitled to enforce this mortgage and any othe~ security now or hereafter held by it in such order and manner as it may in its discretion determine. Without affecting the liability of any other person liable for the payment of the af"resaid promissory note or for the performance of the covenants and agreements herein contained, ~nd without affecting the lien or charge of this mort- , gage upon any of the property described herein a!l security for the full amount of all unpaid indebtedness hereunder, the Mortga::ee may from time to time, and without notice, release any person so liable, extend the time of payment of any sum payable under said note, or grant other indulgences, or modify any of the terms or provisions hereof or of :laid note, release any parcel or portion of the property hereby mortgaged, or consent to the granting of aay easement, or enter into any agreement subordinating the lien hereof, or take or release any other security for the payment of said note or for the perfotmance of any of the covenants and agreements hereunder, and/or make compositions or other arrangements with debtors in relation thereto. I t is understood and agreed that no delay or omission by the Mortgagee in the exercise of any right or remedy accruing upon any default or in the doing of any of the matters and things by it permitted to be done under the terms and provisions of this mortgage aad said promissory note shall impair any such right or remedy, nor be consti"Ued to be a waiver of any sllch default or acquiescence therein, nor shall it affect any subsequent default of the same or a dif- ferent nature and every such right or remedy may be exercised from time to time and as often as it is deemed expedient by the Mortgagec. Nothing contained herein, nor any transaction related hereto, shall be construed or so op~rate as to require the Mortb'agor to pay ii1terest at a rate greater than it is lawful in such case to contract for, or to make any payment or to do any act contrary to law. It is understood and agreed that if any clauses or provisiolls hf'rein contair.ed operate or would prospectively operate to invalidate this murtgage, in whole or in part, then, such clauses and provisions only shall be held for naul{ht, a8 though not here;!' contained, and the remainder of this mortgage shall remaif' operative and in fun force and effect. I t is mutually understood and agreed that all words used in the singular numher in this mortgage shall be deemed to include the plura!, and the masculine gender shall include the feminine and/or neuter, as the contex~ may require. I t is further understood and agreed that all of the terms, conditions, covenants and agreements of this mortgage shall extend to and be binding upon the Mortgagor and the heirs, succeS50rs or assigns of the Mortgagor, and shall inure to the benefit of the Mortgagee ~nd its successors or assigns. When more than one party is named as the Mortg<lgor, !.he obligations and liabilities of such parties shall be joint and several. '. ... 4 Page .......,. ~... ~ ..., ~ - .