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HomeMy WebLinkAbout1131 . ' . ~ , ; ti ' ~ '.`~"f ~ - TENTH: That, in the event that at tbe;betiw~ing of a~r ~t~1~y time pending any suit upon this mort- gage, or to foreclose it, or to retorm it and/or to enforce payment of any claims hereunder, said Bank shall apply to the court having jurisdictio~ thereof for the appointment of a Receiver, such court shall forthwith appoint a Receiver of said mottgaged property, including all and singularly the income, profits, issuea and revenues from whatever souroe derive~, each and every of which, it being expressly understood, is hereby mortgaged as if apeci~icaUy set forth and described in the granting aad habendum clauses hereof~ and such Reoeiver shall have all the broad and effective functions and powera in anywiae entrusted by a Court to a Receiver, and such appointment shaU be made by such caurt as an admitted equity and a matter of abso- lute right to said Bank, and without rsferen e"~' the adequacy or inadequacy of the value of the pmperty mortgaged or to the solvency or insolvency of the Mortgagor and/or the defendant, and ~ush rents, pro~ts, income, issues and revenues shall be applied by such Receiver aocoriling to th~ lien. and/or equity of said Bank and the practice of such oourt, and sucb appoinhnent of Receiver shall be without ~~otioe to any obligor her~ under. . - ELEVENTH: The Mortgagor hereby waives all right of homestead and exemptjon graated by the Con- stitution and laws of Florida. It is apecifi~lly agreed that time is of the ~essenoe of thia contract and that no waiver by the Bank of any obligation hereunder or of the obligation secured hereby shall at any time thet+e- after be held to be a waiver of the terms hereof or of the obligation secured hereby. TWELFTH: That if oonveyanoe should be made by the Mortgagor of the premises herein deacribed or any part thereof, without the written consent of the Bank and without assumption in regular farm of law by the grantee of the obligation to the Bank cre~ated her~under, then and in that event and at the option of the Bank and without notice to the Mortgagor, aU sums of money secured hereby shall immediately and oon- currently with such conveyance become due and payable and in default whether the same are so due and payable and in default by the specific terms hereof or no~ THIRTEENTH: If foreclosure prooeedings of any second mortgage or second trust deed or any junior lien of any kind should be instituted, the Bank ma~y, at its option, immediately or ther~after declare this mortgage and the indebtedness secured hereby due and payable. ; FOURTEENTH: That in the event the peimises hereby mortgaged, or any part thereof, shall be con- demned and taken for public use under the power of eminent domain, all damages awarded for the taking of or danoages to said pt~mises shall be paid to t6e Bank, up to the amount t6en unpaid on this mortgage and the obligation secured hereby and may be applied upon the payments last payable under ttus mortgage and the obligation secured hereby. FIFTEENTH: In this instrument the singular shall include the plural, and the masculine shall include the feminine and neuter. All rights and obligations under this mortgage shall eatend to and be binding upon the respective heirs, ezecutors, administrators, sucoessors and assigns of the Mortgagor and Mortgagee, PROVIDED ALWAYS HOWEVER, that if the Mortgagor shall pay unto the said Bank, the principal and interest installments provided for in and by said note and shall well and truly keep, observe and perform, comply with and abide by each and every the stipulations, agree- ments, oonditions and covenants of said promissory note and of this Mortgage as and when re- quired under the term4 of said promissory note or of this Mortgage, then this Deed and the estate hereby created shall c~ease and be null and void, otherwise the same shall remain of bind- ing foroe and effect. IN WITNESS WHEREOF, the said Mortgagor has hereunto set his hand and seal, on the date first above written. ~ . i ~ Signed, s delivered in the presence of: W~ND~vll. AG s A, irtc . ~ ~ ~ • - - - - - - E ---..._(SEAL) , f~'1•.----...__.....-----•--------- A~- L) ~ ,S~ GE PERR , PRESID~1 , . ....~go . j _ - . (SEAL) ' '~ZO~~ff~' STATE OF FLORIDA, ~ COUNTY OF SARASOTA. Lester G. Schott Before me personallY aPP~~ . ~ ~ r'9 » _ and .Geo e Perreault.-----------•---------•-------------------------~ ~ me well known and known to me to be the individuals described in and Rho egecuted the fore- ~ going instrument and acknowledged before me that they exe~ ted the same for tbe purpose therem egpressed. - / ~ . ~ ~ WITNESS my hand and ofbcial seal the date afn~ .,,,.,d;,,,,. . =t= ~ - ~ ~4~a~. ~ ~ P1,iblic, ~$tate Flori at Large. ~ . . Ili~ii~' Commiss~ioa I+:zpires: f . ,,~kv, . , ,:t , . ,c ~ ~ ' G;,.u~ z:, . . . r>~0 8~175 ~1t?8 . . -M~._ . _ ~ r~~srt~MaRR ~ ~ . , . _ _ - - - : _ ~ ~ ~~"-~a-Y:`;~~.e~3''. i ~'`~:..;s~:y- ~ i~