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HomeMy WebLinkAbout1493 . : curred by 1liortgagee in connection wtth aay sult to enforce collectioa or to foreclose this mortgage in the event this mortgage aad the note os other indabtedness aad amounta henby secured be plsceil in the hands ot an attorney for collection, and for the paymeat of all such amounts tLis mortgag~e shall stand as secneit~ aad any such sum or sums so paid ahall become a part of the indebtedne~s sccured hereb~. 7. In case ~iortgagor shall fail to pmmptly di~charge any obligation or covenant as providai herein, 11i~rtgegee shall ha~~e tLe option, but no obligation, to perform oa behalf of Nortgagor. Any emount which 1?1ort- gagee may e:pend in performing sach act or in COADCCtlOD tLerewith, with interest thereoa st the rate of eigbt per cent (8 J6) per annum, togethes with all e:pensea, including reasonable attomey's fees incurred Ly 1liortgagee, shall be immediately payable by 1ltortgagor and shell be secured by this mortgage, and Mortgagee shall be subro- gated to any rights, equities or liens so discharged. 8. That if the principal or interest on the nott herein dwcribed or any part of the indebtedness secured hereby or interest thereon be not peid when due, or if ~Lortgagor shell fail to pay any ta:es, assessments, chargea, or impositions as the same become dne and papable, or if default be made in the full and prompt performance of any covcnant or agreement h~reia contained, or if any proceedings be instituted to abate any nuisance on the Iltortgaged Premises or if any procecdings be instituted which might result to the detriment of the use and enjoyment of the ptemises, or if liortgagor ahall make an assignment for the benefit of creditors, or if a n- ceiver, liquidator or tr~stee of \~ortgagor or any of Mortgag~or's pmperty be appointed, or if 1lfortgagor is adjudi- cated a bankrupt or insolvent or any of the property of Mortgagor be sequestered, or if 111ortgagor files or consents to the filing of any petition or proceeding under the National Bankruptcv Act or similar State or Federal Statntes, as now or hereafter in effeet, or if such petition or proceeding is filed against Mortgagor and not dismisaed within sizty (60) days after anch filing, or if Mortgagor shaA admit inability to pay debts as they become dne, or if 111ortgagor be a corporation, if its directors or stockholders shall institnte or consent to any proceedings for the dissolution or liqnidation of Ilfortg+~gor or fail to do all thing~ necessary to maintain the e:istence of 1ltortgagor, or if any law ahall be enacted or decision rendered by any conrE of last resort imposing any taz or assessment not now in effect upon this mortgage, or the note secured hereby, or any interest of 11iort- gagee in the l~fortgaged Premises, or rendering inoperative the nndertakings of Mottgagor to pay all tazes arising aa a result of this transaction other than taaes on the interest income herefrom, or which resnlts in the dednetion fmm valnea of lands, for taz pnrposes, of the amount of any lien hereon, or altering the laws tor the tazing of mortgages or debts secnred thereby, then on the happening of any one o: more of tLese events, thia conveyanee shall become sbsolute and the whole indebtednes secured hereby shall immedistely become due and peyable at the option of Mortgagee and this mortgage msy thereupon be foreclosed for the whole of said monev, iuterest and oo~ts, or Mortgsgee may foreclose only as to snms past dae without injury to this mortgage or the displacement or impairment of the remainder of tLe lien thereof, and at such foreelosnre aale the property shall be sold anbject to all remaining items of indebtedness and the I?iortgagee msy agaia foreclose in the same manner ss often ss there may be any sum past dna 9. If at aay time after defanlt by Mortgagor a receivership may be necessa~ry in the opinion of Mortgagee to protect the lien hereof, or at the time of or after tht institntion of snit to collect the indebtedness hereby secnred, ~i or to foreclose this mortgage, ~iortgagee shall, as an admitted equity and as a matter of strict right and regard- less of the valae of the pmperty, or the solveney or insolvency of Mortgagor or any party bonnd for the payment ~ of the indebtedness have the right to appoint, on ez psrte application and withont notiee to anyone by any { proper conrt having jurisdiction, of a receiver, which receiver shall have all of the broad and effective po~vers ~ and functions in any ~vise entrasted by the conrt to a receicer to take charge of, manage, preserve, maintain, care for and proteet~the 1liortgaged Premises and to collect rents, issues, proceeds, produce, profit, income and ~ revenues of the Mortgaged Premises from whatscever source deri~ed; to make sll necessary or needfol repairs ~ and to cultivate, operate, dnst, prnne, fertilise, lime, dcain, irrigate and protect from damage by fire, the tirober, ~ fields, pastnres, orchards, citras groves and all other agricultnral developments located on the bfortgaged Premises ~ and to market the products thereof and receive and collect the proceeds thereof and such receicership shall, at the option of 1liortgagee, continne nntil the ful! payment of all snms hereby seeured, or nntil tide to the 1lfort- gaged Premises shall have passed on sale nnder a foreclosure of this mortgage. IT Is Aassen that granting an~ eatension of time of pa~ment of any sum coming due under the note aforesaid or under this mortgage, to any person, or the taking of other or additional security for the payment thereof, the wsiver of, or failure to eaercise, any right to mature the whole debt or any other waiver bp 111ortgagee shall not in anp wise affect this mortgage or the rights of 1liortgagee herennder, or operate as a release of any liability or any co~enant or stipulation herein contained. The several rights and remedies in this mortgage contained, provided, declared or authoriaed, shall be construed and deemed as cnmulative and no one or more of them as ezclusive of ~ the other or any of the others or of any rights or remedies which now or hereafter may be given or allowed by law. ~ ~ ! ~ :liortgagor unconditionally grants to 2liortgagee the right to enter upon and inspect the l~iortgaged Premisra ~ 1 at all reasonable times. ~ ~ i The ~vords "Mortgagor' and "Mortgagee" wLen nsed herein shall be taken to include the singular and plnral number and mascnline, feminine or nenter gender, aa may fit the case, and shall inclnde the heirs, administrators, ~ ezecutors, successors and assigns of the parties hereto. Each and all of the terms and proviaions heceof shall ex- tend to and be a part of any renewal or eztension of this mortgage. In the event that there ia more than one mortgagor, then, at the option of Mortgagee, any act or actioa by, on behalf of or sgainst either mortgagor, shall ~ ha~e the same effect as though by, on behalf of or against all mortgagore. ~ This mortgage and the note secnred hereby constitnte a Florida contrset and shall be constraed according , _ t, F:; L.~.,~~ & lC'N;tJES ~ R +Af!r,...,_ J; ~ : L. v~ g~K~ , ~ +~,W ~y F.G. E;,x _~.:8 - GRLAi.DJ. F~ ,-~~.Z _ . . - : ~ ~j .,-~.1.> ~ ~,v~° ~ ~