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HomeMy WebLinkAbout0215 . ~ , Mortgagor covenante and agrees to make euch paymeats upon the date upon which such paymcnta mature upon the first mortgage without regard to any grace or exten- sion period which might be provided in the firet mortgage, as~d the Mortgagor will not be deemed entitled as againat the Mortgagee herein, her heirs, legal represea- tativee or asaigns~ to take advantagc af any exten~ion or acceleratian or grace period~ it beiag the iateation af the partiss that the Mortgagor mu$t effect payment of all pay- ments due under the terms aad canditions of the first mortgage whea they mature so that if the Mortgagor shall not have dane so, the Mortgagee will have an opportuaity to cure the default of the Mortgagor befere the daDt might be accelerated; but such right of curing a default of the Mortgagor is a privilege accruiag to the Mortgagee as , distingu£shed from the Mortgageeis duty, and the exercise of auch privilege will not waive the default thua committed in the mortgage and its terms by the Mortgagor; and ; the proviaiona of this Paragraph, to the extent that they may be inconsistent with Para- s graph 7 hereof, wi]1 prevail over the provisions of Paragraph 7. ` 7. That if any af the suma of money herein referred to be not promptly aad fully paid withia thirty (30) daye next after the same severally become due and payable, or if each a,ad every the sfilpulations, agreements, conditione and covenante of the said pramisaory uote and thie deed, or either of t,hem, are not fully performed, complied v~rith and abided by, then the aggregate sum ~entioned in the said promissory note ~ and all other sums secured hereby and chargeable hereunder, shall forthwith become due and payable, or thereafter, at the optian o# the Mortgagee, her heire, legal repreaeatativea or aseigns, as fully and completely as if the aggregate sum of the in- debtedne8s secured hereby were originally stipulated to be paid on such day, anqthing in the said promiss~ry note or herein to the contrary notwithstanding. 8. This mortgage eacumbers the rents, issues and prafits o~ the real aad per- sonal. property which is encumbered hereby and such reats, issues aad profits are hezeby 8pecifically pledged to the payment a~ the note which is secured hereby; and it is furthex covenanted and agreed by the 8aid paztiee that in the event af suit being in- stituted to foreclose thie mortgage, the Mortgagee, her heirs, legal representatives ~ or a~aigns, shall be eatitled to apply at aay time pewding such foreclosure suit, to the ; court having jusisdictiaa~ereof for the appointment of a recesVer o~ all and eingular ~ the mortgaged property and all o~ the rents, incames, profite, isaues and revenues thereaf from whatever source derived; and, thereupon, it is hereby ezpressly covea- anted and agreed that the couxt sb,a11 forthwith appoint a receiver o~ said mortgaged ~ property a11 an~d singular, and af such renta, incomes, pro~its~ iasues and revenues from whatever source derived, with the usual powers aad duties o~ receivera in like ~ cae es; aad such appointment shall be made by such court as a matter of strict right ~ to the Mortgag ee, b er heir s, legal r epr es eatatives or as signs, and without r ef er enc e ~ to the adequacy or inadequacy Qf the value of the property hereby mortgaged. or to the ~ solvency or insolvency of the Mortgagor, ite successors or assigns, and such rents, iacames, profits, issues and revenues sha11 be applied by such receiver to the payment ~ af the mortgage indebtedness, costs and charges according to the order of such cour~ ; 9. That although this mortgage encumbers aad will encumber tangible peraonal property which.constitutes and wi]1 consti.tute, from ti~me to time, the equipment and , mac}iinery necessary and used in the cultivation of the citrus groves which are situa- ted upa~ai the property encumbered hereby, etill this mortgage is given with the under- standing tbat the Mortgagor will not be deemed in default hereunder if the Mortgagor ~ replaces any item o# personalty with other itema of similar natnre, having a value ~ e£ aoL less than the value af auch replaced item; and any replacezneats af or additiaais ' to such tangible personal property will be immediately encumbered hereby and the Mortgagor will, from time to time, at the requeat of the Mortgagee, enter into and execute a wri#en instrumeat s ecif ~ p ~ng the particulars in which the inveatory of the persa~alty encnmbered hereby has been changed and then exists. I0. T2iis mortgage may only be prepaid in accordance with the tenor of the promisaory note which it securea. ~ r i s~x ~39 ~~2 PATTOIM i KANNEIM. A7T0/1MtY~ A7 LAW. !f~ i[CU1I~TII TRUST SUIIDING. MIAM1. FIOR~pA ~ - - r-- . - - -'-„~~~t~i~i~ ~_`c'~-u'-.~rt.'.~ _ s , ; ~y..,. " .