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HomeMy WebLinkAbout1487 ' ' • ~ ! j . ~ . ~ . • { curred by 111ortgagee in coanection with any sutt to enforce collection or to foreclose this mortgage in t4e eveat ~ this mertgage and the note or other inde6tedaess and amouata hereby secuted be placed in thc hsnds of an attorueT ~ for collection, and for the paymeat of al! such amounts tLia morigage shall stand as serurit~ and any sueL sum or sums so paid shatl become a part of the indebtcdness acc~red hereby. ~ ~ 7. In case 111ortgagor shall fail to prompdy diacharge any obligatioa or covenant aa pmvidetl Lerein, t Mortgagee shall have the optioa, but no obligation, to perform on behelt of 1lfortgagor. Any amonnt which 1ltort- gagee may e:pend in performing anch act or in connectioa tberewith, with interest thereon at the rate of eight ~ per cent (8~J6) per annum, together with all ezpenses, including reasonable attorney's fees incurred bp l~fortgagee, shall be immedistely psyable by 111ortgagor and shall be secund by this mortgage, and 1liortgagee ahall be subro- ~ gated to any rights, equities or liens so discharged. ; t 4 8. That if the prineipal or interest oa ihe note herein described or any part of the indebtedness secured ~ hereby or interest thereoa be not paid whea due, or if ~Iortgagor ahall fail to pay any tazea, assessments, charges, j or impositions as the same become due and payable, or if default be made in the full and prompt performance ~ of any coveaant or agreement herein coatained, or if any proceedings be instituted to abate any nuisance on the ~ 1lfortgaged Premises or if any proceedibgs be instituted which might reanlt to the detriment of the use and ~ enjoyment of tLe premises, or if \iortgagor shall make an assignment for the benefit of creditors, or if s re- ~ eeirer, liquidator or trustee of \iortgagor or any of Mortgagor's pmperty be appointed, or if hiortgagor is adjudi- ~ ented a bankrnpt or insolvent or any of the property of Mortgagor be aequestered, or if 1liortgagor filee os ~ consents to the filing of any petition or proceeding under the National BankrUptcy Act or similsr State or Federal Statntes, as now or hereafter in effeet, or if such petition or proeeeding is filed ageinst Mortgagor and ~ not dismissed wiihin si:ty (60) dapa after sneh filing, or if Mortgagor shall admit inability to pay debts as ; they bceome dne, or if :ltortgagor be a corporation, if its directors or stockholders shall institnte or consent to any ~ proceedings for the dissolution or liquidation of 1liortgngor or fail to do all thinga necessary to maintain the , existence of 1liortgagor, or if any law shall be enacted or deciaion rend~red by any conrt of last resort imposing ~ any taz or assessment not now in effect upon this mortgage, or tht note secured hereby, or anp interest of biort- ~ gagee in the Mortgageci Premise~, or rendcring inoperative the nndertal~ings of l~fortgagor to pay alt tazes ~ arising as a resnlt of this transaction other than tazes on the interest income herefmm, or which resnlts ia the ~ deduction from valnee of lands, for taz pnsposea, of the amonnt of any lien hereon, or altering the laws for the i tazing of mortgagp or debts secnred thereby, then on the happening of any oae or more of these events, thi~ conveyanee sbalt become absolute and ttee whole indebtednes secured hereby shall immediately become dne and i payable at tht option of Mortgagee and this mortgsge may thereupon be fortclosed for the whole of said money, ~ interest and costs, or Mortgag~ee may foreclose only as to sams past due without injnry to this mortgage or the displacement or impairment of the remainder of the lien thereof, and at such foreclosnre sale t6e property ~ shall be sold subjeet to all remaining items of indebtedness and the 111ortgagee may agein foreclose in the same ; manner as often as #here may be any snm past daa Q : 9. If at an time after defanIt b Mo ~ Y y rEgagor a nceivership may be necessary in the opinion of Mortgagee } to protect the lien hereof, or at the time of or after the institation of suii to collect ihe indebtedness hereby secared, : or to foreclose this mortgage, Jiortgagee shall, as an admitted eqnity and as a matter of strict right and regard- less of the valne of the property, or the solvency or insolvencq of Mortgagor or anp party bonnd for the payment of the indebtedness have the right to appoint, on ez parte application and without notice to anpone bq any proper conrt having jurisdiction, of s receiver, which recei~er shall hav~ all of the broad and effective powers and functions in any wise entrnsted by the conrt to s receicer to take charge of, manage, preserve, maintain, care for and protect the biortgaged Premises and to collect rents, issaes, proceeds, produce, pmfit, income and ` revenues of the Mortgaged Premises from whatscever source derived; to make all necessary or needfal repairs and to cnltivate, operate, dust, psnne, fertilise, lime, drain, irrigate and protect from damage by fire, the timber, fields, pastures, orcbards, citrus groves and sll other agricultnral developments located on tLe Dtorigaged PTemises • and to market the products thereof and receive and eollect the proeeeds thereof and sueh receiaership shall, at the option of :ltortgagee, continue until the foll papment of all snms hereby secured, or until title to the 111ort- gaged Premises shall have passed on sale nnder a foreclosure of this mortgage. Ir Is AaaESU that granting anc eztension of time of pafinent of any snm coming due onder the note aforesaid or under this mortgage, to any person, or the taking of otl~er or additional security for the pafinent thereof, the wsiver of, or failure to Caercise, any right to mature the whole debt or any other waiver bq ;lfortgagee shall not in any wise affeet this mortgage or the rights of biortgagee hereunder, or operate as a release of any liability or any covenant or stiputation herein contained. The several rights and remedies in this mortgage contained, provided, declared or authoriaed, shall be construed and deemod as cumulative and no one or more of thtm as e:clusi~e of the other or anp of tLe others or of any rights or remedies which now or htreafter may be given or allowed bp law. :liortgagor unconditionslly grants to Mortgagee the right to enter npoa and inspect the 1liortgaged Premisr~ at all reasonable times. The words "Mortgagor" and "Mortgagee" when nsed herein shall be taken to include the singular and plural . number snd masculine, feminine or nenter gender, as may fit the case, and shall inctnde the heirs, administrators, eaecutors, successors and assigns of the parties hereto. Eac6 and all of the terms and provisions hereof shall ex- tend to and be a part of anq renewal or eztension of this mortgage. In the event that ihere is more than one mortgagor, tLen, at the option of Mortgagee, any act or sctioa by, on behalf of or against either mortgagor, shall hsce the same effect as thongh bp, on behalf of o: dgainst all mortgagors, , This mortgage and the note secared hereby constitute a Florida contract and shall be construed according ` i BDOtt~~ ~ ~ , _ _ 5. .,::t . . . _ _ ' s x x~c+: '~r~J`-.~`z~'~....~:.~...,t'a-~ ~ , . ~ „s~-.~.ira..