HomeMy WebLinkAbout1568 gage •to the to~trory notw~thstonding; ona me~eupon or mereo~rer, Of ~M Op~~On Or me ~
gogee, without notice o? demor+d, suit at law or in eguity, the?etofore w the~eofte? begun, moy ;
prosecuted os if oll nw~eys secused he~eby hod motured prior fo ifs inst+tufion. j
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8. That, in the eve~t thot ot the beginning of or ot cny time pending a~y wit upor~ this mort- ~
gage, o~ fo foreclose it, or to ~eform it. and/o? b enforce poy~*tient of any cleims lxrcunder, the
Mo~tgogee shell c~ppiy to the court hov~ng jurisdiciio~ thereof for the oppoi~tme~t of o Receive~, +
such cou~t sholl forthwith oppoint o Receive~ of soid mo~tgoged p~ ~perty all ond singula~, including :
oll ond singulor the income, profits, issues end ~evenues from whatever source de~ived eoch ond i
every of which, it being expressly unckrsto~od, is he~eby mortgaged os if s~ecificolly set forth ;
o~d described in ti,e gronting ond hobe~dum clouses hereof, ond such Receiver sholl hove oll the ~
brood ond effective functions and powers i~ onywise ent~usted by o court to o Receive~, and
wch eppointment sholl be mode by such court os en odmitted equity and ~~otter of obsolute ~
~ight to the Mortgogee, ond without ~efe~ence to the odequocy ar inodequocy of the volue of the .
prope~ty mwtgageci or to the solverscy or insolvency of the Mortgogo~ end/or of the def~ndont, . ~
ond that such rents, profits, income, issues o~d revenues shall be applied by such Receiver occonl-
ir?g to the lien ond/or equity of the Mortgogee and the p~octice of such court.
9. Duly, promptly ond fully to perfomn, dischorge, execute, effect, complete, comply with
ond obide by eoch and every the stipuletions, ogreements, conditions and cavenants in wid promis-
sory note ond in this mortgoge set forth. The Mortgogee moy coliect o"late chorge" not b exceed ~
aq omount equol to five pe~cent (59i6) of ony installment wnich is not poid within ten (10) doys from ~
the due dote thereof to tover the ext~o expense involved in hondling delinquent poyments.
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10. As odditia~wl security, the Mortgogo~ does hereby tronsfe~, assign end set over b soid `
Mortgogee ony and oll rents now due, or to become due, on the obove described premises or ony }
separote ~ntol premises eppurtenont thereto, which ore situoted on fhe lond obove destribed; suth ~
rents to be tolletted by or ot the direction of the Mortgogee and the net proceeds thereof to be ~
opplied to the indebtedness he~einbefore secured, as and when the some shalf becane due ond ~
payoble; ond for the purpose of corrying out this provision the Mo~tgogor does hereby constitute ~
and oppoint soid Mortgogee as its true ond lawful ottorney-in-fact to collect any end oll rents for ;
soid above described premises, expressly outhorizin~ the Mortgogee to receipt tenants therefor, ond
~ does by these presents ratify and confirm any ond all otts of soid ottomey-in-foct in retation to the '
foregoing power; provided, however, thut until the Morigogor sholl breoch or be in default unde~ any '
of the terms of this mortgage, the Mo~tgogor sFw~l be pemnitted to collect and receive such rents, '
issues and profits, but that upon such defoult or breoch, the Mortgogee sholl outomatically without ~
notice become entitled to collect said rents, issues and profits. Failure to exertise the rights herein '
conferred shall not constitute o waive~ thereof by the Mo~tgogee.
11. Duly, promptly ond fully to perform, comply with ond abide by each ond every the stipu-
lotions, ogreements, conditior~s ond covenonts contained 'm the prior rnorigoge hereinobove des-
tribed, if any, ond in the obligotion secured thereby. -
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; 12. That in order more fully to protect the security of this mortgoge the Mortgagor, together :
~ with ond in addition to the monthly poyments under the terms of the note secured hereby a~d on - ~
the same day of each month os the poyments under said note ore due and until soid note i~. fully
poid, if so required by the M-rtgogee, sFwl! poy to the Mortgagee on instollment of the toxes o~d
assessments next to become due Qnd levied or to be levied agoinst the mortgaged property ond nn
~ installment of the premium or premiums next to become due and poyoble on the policies of fire ond
other hazord insurance covering the mortga3ed property. Such instollments sholl be equol respec-
tively to such estirrwted toxes and ossessments and fire and other hozard insuronce premiums (all
os estimoted by the Mortgagee) less all sums olreody poid thereon and divided by the number of
the mor~ths thet are to elopse before one month prior to the dote when such taxes, assessments or
premiums will become delinquent, such sums to be hetd by the Mortgagee in trust to poy seid pre-
miums, taxes ond ossessments. ~
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IT IS MUTU/1LLY COVENANTE~ /1ND ACREED by ond between the Mortgogor ond the Mort-
r= gogee thot this mortgoge' und the pramissory no~e secured hereby constitute a Florido contract, ond
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-~aoK 160 PACE 3f~8
WQ 33-7-1/63 . _ .
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