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HomeMy WebLinkAbout2258 . curred by 1~lortgagee in conn~ction with an~ anit to enforce collection or to foreclose this mortgage In the event ~ this mortgagc sad the note or other indebtedneas and amouats hereby aecured be placed in the hands of an attorney for collection, aad for the paqmeat o[ all suc6 amounts this mortgage ahall stand as aecurity and any auc6 sum or t~~ , sums so paid ahall become a part of the iadtbtedneas aecund henby. . 7. In case 111ortgagor ahall fail to promptly discharge any obligation or coveaant as p:ovided herein, Mortgagee shall have the option, but no obligation, to peeform on behalt of Mortgagor. Any smount which 1liort- gagee may e:pend in performing snch act or ia coanectioa therewitb, with interest thereon at the rate oE eight per cent (8~J6) per annum, tol,Tether with all e:penses, including reasonable attorney's fees incurred by 11~ortgagee, shall be immediately payable by 1lfortgagor and shall be secured by thia mortgage, and l~tortgagce shall be subro- gated to any right~, oquities or tiena so dischsrgtd. 8. That if the priwcipal or interest on the note berein described or any part of the indebtedaes~ secared h~reby or interest thereon bc not paid when due, or if ~Iortgagor shall fail to pay any taz~, assessments, c6arges, or impositions as the same become due and peyable, or if default be made in the full and prompt performance of any eovenant or agreement herein contained, or if any praceedings be instituted to abate any nuisance on the 1ltortgagod Premises or if any proceedings be instituted ~ehich mig6t result to the detriment of the use and enjoyment of the premises, ar if \'Iortgagor shall make an assignment for tLe benefit of croditota, or if a re- cei~er, liquidator or trustee of ~iortgagor or any of Mortgagor's pmptrty be appointed, or if ~iortgag~nr is adjudi- cated a bankrupt or insolvent or any of the property of 1ltortgagor be aequestered, or if 111ortgagor filea or conseats to the fiting of any petition or proceeding under the National Bankruptcy Act or aimilar State or Federal Statutes, as now or hereafter in effect, or if such petition or proceeding is filed against Mortgagor and not dismissed within sizty (60) days aftet auc6 filin,g, or if Mortgagor shall admit inability to pay debts as they become dne, or if Mortgagor be a corporation, if its directors or stockholders shall institute or consent to any proceedings for the dissolution or liquidation of 1liort~wgor or fail to do all things necessary to maintain the e:istence of 1ltortgagor, or if azy law shall be enacted or decision rendered by any conrt of last resort imposing any taz or assessment not aow ia effeet upon this mortgage, or the note secured hereby, or anp interest of 11iort- gagee in the Iltortgaged Premises, or rendering inoperative the undertalc~ngs of Mortgagoz to pay all taze~ arising aa a result of tbis transaction other fhan ta:ea on the interest income herefrom, or which resnlts in the dednetion fmm values of land~, for taz purposes, of the amonnt of any lien hereoa, or altering the lswa tor the tszing of mortgagea or debts securcd thereby, theu on the happening of any one or more of tbese events, this conveyance shall beeome absolnte and tLe whole indebtednes secuted hereby shall immediately become doe and payable at the option of Mortgag~ee and this mortgage may tbereupon be foreclosed for the whole of said money, interest and coats, or hfortgagee may foreclose only as to sums past due without injury to this mo:tgage or the displacement or impairment of the remainder of tbe lien thereof, and ut such foreclosnn sate the propertp shall be sold subject to all remaining items of indebtedncsa and the 1ltortgagee may again foreclose in the same manner as oftcn as there may be any aum past due. 9. If at any time after default by Mortgagor a nceivership may be axessary in the opinion of Mortgagee to protect the lien hereof, or at tLc time of or after the institation of snit to collect the indebtedness hereby secnred, or to foreclose this mortgage, ~iortgagee shall, as an admitted eqnity and as a matter of strict right and regard- less of the value of the property, or the solveney or insolvency of Aiortgagor or sny party bound for the pafinent of the indebtedness have the right to appoint, on ez parte application and withont notice to anyone by any proper court having jurisdiction, of s receiver, which recei~er shall have all of the broad and effective powers and functions in any wise entrusted by the eourt to a receirer to take charge of, manage, pteserve, maintain, care for and protect the 1lfortgaged Premises and to coltect rents, issnes, proceeds, produce, profit, inrnme and re~enues of the Mortgaged Premisea from whatscever sonrce derived; to mske all necessarp or needful repairs and to cuIticate, operate, dust, prane, fertiliae, lime, drain, irrigate and protect from damage by fire, the timber, fields, pastnres, orchards, citrvs gro~es and ali other agricultural developments located on the 1lfortgaged Premises and to market the prodvcts thereof and receive and collect the proceeds thereof and such receivership shall, at the option of Diortgagee, continue until the full pavment of all snms hereby seeured, or until tide to the :11ort- gaged Premises shall ha~e passed on sale under a foreclosure of this mortgage, Ir Ia Aasssn that granting any eatension of time of pafinent of any sum coming due under the note aforesaid ~ or under this mort a e to an erson or the tahin of otl~er or additional securit for the s ment the:eof ~ gB~ YP , S Y P3' ~ sZ the vraiver of, or failure to eaercise, any right to mature t6e whole debt or any other weiver bp lfortgagee shall not .tin any wise affect this mortgage or the rights of 1liortgagee hereander, or operate as e release of anp liability or ~'any co~•enant or stipuiation herein contained. The several zights and remedies in this mortgage contained, pmvided, ;.j °declared or avthorized, shall be construed and deemed as cumulative and no one or more of them as ezclusire of _ f~ o the other or any of the others or of any rights or remcdies which now or hereafter may be given or allowed bq law. . c~ _j \fortgagor unconditionally grants to ~iortgagee the right to enter upon and inspect the Dtortgaged Premises p at sll reasonable times. The worda "111ortgagoi' and "biortgagee" whea nsed herein s6all be taken to include the singular snd plural ~ number and maseuline, feminine or neuter gender, as may fit t6e case, and sha~l inclade the heirs, administrators, erecntors, suceessors and assigns of the parties hereto. Each and sll of tLe ierms and provisions henof shall eY- tend to and be a part of any renewsl or eztension of tbis mortgage. In the event that there is more than one mortgagor, then, at the option of hiortgagee, any aet or action by, on behalt of or sgainst either mortgagor, shall ha~e the same effeet as though by, on behalf of or against all mortgagors. This mortgage and the note secared hereby constitute a Florida coatract and shall be construed according ~ooK ~7~ ' w ~~c _ , ~ ~ h ~ ~ ~ " . . ~ , ~