HomeMy WebLinkAbout2689 Thct if the psindpal or int~re~t on tM ao~e IrereiA de~cribed or aqy part oi the indebt~dnw ~nrrd ~
or iat~x+~at therrwa bs notpa id when dua Ya~~.
r sbu?11 i~il tap~y say ts~ces, a~ae~ramenb, at
tions as the ~ame beeome due aadpa Jsbk, or ii defsnlt be mada in tFiee iull and p~pt pertormano~ eo~roaat
ora~r~ nL harein eoatained. or ii ~?ny proceedinp be inatiLnLed Lo ab~?te rny nui~soa ou t~e Yor~ Psaaiw
or if wny px~oe~d~r?~s be inrtitntad wbuh mi~ht aesdt Lo t!?e detrieneKt oi the we ~?nd a~o~mte~t of or
ii Mort~a~or is ~udicat+ed ~ bankrupt or inwlvent, or it any L~w ahnll b+ oes~eLd or dec~siaa randcred +~a~r eaast
of last resort im~posins any tax or ~rKamsnt tat now in etf~et npon thi~ mostsar, or tl~e aote h~b~. or
any irteratL of l[ort~a~e~ in th~ Yortsa~d Preaai~es, or renderinr ir,opersLiw ths undsrtakinss at Yort~or to p~y
all tsYes ariainr sa • raul~ ~t thia trsnsxction other th~n taze~ on the inttrest inaome 2ardrom. or wh3c6 trenlt~
in tbe deductioe imra v~lue oi 1~?nd. xor taz purpo~ea, oi tbe wrnount ot any liee hereon, or alt~erin~ tda laws fos tb~
tazic?j oi Q?o~~ or diebb ~scured ther~by, or i! the Mortes~or, witbout fisat oblsiait?~ the writt~en oomen! s! tM
Murtsa~rr. shall -~rsnt~ borpin, ~ell or con~ey tbe ]dort~s~ed Premises or any part thet+of. inclnd~ tfimber, t~n oa
the happ~ains ei any o~ or n?or~ of thae event~. thL con~reyrnce rh~?U b~com~ abwlute ~?nd the w eb irid~bR~dnMs
secured hareby ahsll immedlatd~r b~coe?a dne ~nd pay~bk at Lha option of tbe D[ortra~ and thb mort~~ mty
therenpon bs loreclosed ior tbe whol~ a! said moaey~ intereat aad ca~ts~ or Mo~ee msy lor~close onlr aa to ipams
past dne withoat iujusy to this morC~a~ or th$ displacemenR or impsirmenL oi th -i re~a~?inder of t6e lien tberwf, at~d
at ~uch toreclwure r~la th~ property sball be wld ~ubject to ~ll t~emainfns items od ind~bt~dnw ~ad tb~ Yorts+R~s
may ~ia lotrelose in tba s~?aae aaanner w often ss there be any sum past dne.
10, Ii rt any time after detault by Mort(sa~ur a recei~ership may be neceasary in th~e ap inion oi ~[oxtsane
to prneect the lien hereoi. or at the time ot or dter tha inRtitution o! suit to collect th~ indebtadneu bn~eby secard.
or to toreclass tbia mort~~+, 1[ortsages sh~ll. u sn rdmittod puity_ and ai : matLe: ot ~trkt t ond r~ard-
less af the vslne ot the property, ar the wive~cy or insoiver?cy of Mort~a*as or snq parti bons~d ar tbe paymrnt
of the indabtednas tuw tbe~ t Lo the appointment, on cx parte appliest3on ~nd withont notke to anyone~ b~ any
proper cnurt havi~ f urirdict~on, ot • reoei~er, ~vhich receiver ahall h~ve ~ll of the bruad and dYeeti~e powar~
and functiens in any wise ~ntrusted by the eourt to a receiver, to take char~e oi~ m~aa~e, presarva~ raaintain. esre
Yor and prnt~ect the Mort~ta~m~d' F'remiaes and to collect rents. issues, proceeda. PIOduCer prolit~ incaane and x+r~anwNr ai
the Mort~•d Premi~ irom wb~trwever eource derived; to mske ~A neeeassry or neediul npsirs and to pm~ide tor
Lhe Mort~sged Premiaes ~a set forth in paragrspha 6 snd 6 sbove, snd to m~rket tha producb ihereo! and reeei~e
snd oollect the procee~ thereot and sncb nceivenhip sh~ll, at the optinn o! Mortg~a~ee, continne nntil the inll pay-
ment oi all suras hereby secured, or until title to the Mortgaged Premisea shall havo pssred on s~le nndes s i~t~e-
clos~zre of thi~ mortga~e.
11. Shonld Mortga~os ~nd Mort~agte hereatter enter into ¦ny agreement modifyin~ or ch~ngin~ ths ~s ad
thia mort~a~e or the note ~ecund hereby in anp psrticulsr, thc rights oi the partia ta sneh a~reement ahall be ~upaxior
to the ri'~hts of the holder of any intorvening lien or encumbnnce.
12. WitJwnt diectin~ ~he litbiliLy oi anype reon (other than any pertwn releastd pursuant htreto) fox p#ymenC ot
eny indebtedness eecured hereby and withaut rifectine the lien hereaf upon •nq pmperty not releaaed pur~narnt hex~eto~
Mort~ee may at sny time sn~ irom iime to time, without notice:
(t) Relesae any person liable for paqment of aay indebtedneas secnred hereby.
(b) Renew the indebtedness, or e~cte~d the time, or agree to olter the terna~, o~ paymeIDt of any o! tbe indebk-
ednaa.
(c) Accept sdditional aecurity of any kind.
(d) R.elease any pmperty secvr6ng the indebtedneaa.
(e) Conaent W ttte making oi any ms~ or plat oi the Mortgaged Premi~a, or the creation of any ess~mmts
therean or any covenants reatricting use or occupancy thereof. ,
13. It the indebted~neaa secured henby is now or hereafter iurther seaured by chtttel mort~agra, pledgea, con~
tracte of gvsranty, assignments of lesaes, or other uecurities, Mortgagee may at ita option e~ch~?ubt any one or more
of said necarities and the aecurity hereunder, aither concnrrently or independently, snd in ench order u iC may
determirn.
14. No delay by Mor~gsgee in exerciaing any riRht or remedy hereunder, or ~therwiae atforded by law, shall
opente nus s weiver thereoi or preclude the exercise ther~eo? during the continusnce oi any detault henunder.
15. Thst the Mortgagor shall permit the Mortgagee or ite reFresentatives to examine and inspect the premiaea
~t :ny reaaon~ble timea,
Thia mortgage ahali inure to and bind the heira, legs~tees, deviaees, administrstors, execotora, sue~essare and
aaaigns of the psrtiea hereto. Wherever ased hezein, the singular number eh,~ll include t~e plnral, t~e plarai the
eingulsr, and the uae oi sny ~ender ehall be applicable to all g~ndess.
Mo shall be aubrogated to the claima and li~ne of aU parties whoee claima or liene are diseharQed oz
paid with~e
peroceeda of the loan aecured hereby.
Elizab~th Lloyd Davis joi.ns in the executivn hereof for the sole pur~pose
of mortgaging and encumbering all of her right, title and int~rest, it
any incl~ading dower in~erest, if any, in and to the abave described
proper~cy.
~
I~V WITNES,S WHER~OF, this mortga~e has been duly ex~cut,~d by the ll~ortga~or.
Si~ned~ so~?led and ddi~ezed
in the ptrsen+ee oi :
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$
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El abeth Llo Davis
- ANQERSON, RUSH, DC9N & l`~'~~:.~~S
Attorneys +t law
P. V. Box 22-,8 ~ R 'f s 1~
ORLANDO, fWRii)A ~GCI(.,Lf.r~