HomeMy WebLinkAbout1992 to the payment of whatever sum or sums the Mortgagee may have
paid or became liable to pay in carrying out the terms and
stipulations of this mortgage, together with interest thereon;
and finally to the payment and satisfaction of said note.
The balance, if any, shall, unless the Court decrees otherwise,
be paid into the registry of the Court having jurisdiction
of said foreclosure suit, to abide the further order of said
Court.
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DIINTH: T'he Mortgagor hereby agrees that the Note or
obligation hereinabove mentioned and this Mortgage is to be
construed according to the laws of the State of Florida .
TENTH: As further security for payment of the obligation
secured by this I~rtgage and the faithful perforiaance of all the
covenants of this Mortgage and the Note secured hereby, but with-
out liability on the Mortgagee, except for a proper accounting
and use of moneys, if any, derived therefor, the Mortqagor dces
hereby assign, transfer and set over unto said lrbrtgagee, and
its successors and assigns, all of its right, title and interest
in and to any and all leases which it naw 2ias outstanding as
Lessor, or may have outstanding as Lessor, on the property
encumbered hereby, at any time during the life of this mortgage
and the note secured hereby, all of which, in addition to the
previous assiqnment or assiqnments mentioned herein, shall be,
at the option and request of the Mortgagee by approprfate
instrument of equal dignity herewith, further assigned to the
Mortgagee and deposited with the Mortgagee. In the event of
any default under the terms of this Mortgaqe, the Mortgagee
shall have the right to and may collect and receive all rents
due or~to become due under said Lease or Leases and shall
i have the riqht to sue for and collect said rents or any
( partthereof, i.ncluding the right to demand and sue for possession
of said premises, to re-let said premises, or any part •
thereof, and collect the rents due under such old or new lease
or leases, and to apply all such rents and income, less expenses
incurred, toward payment of the Note and indebtedness herein
described. No such lease, by reason of this paragraph or by ~
reason of any assignment or for any other neason, shall be construed
as being prior to the lien of this mortgage. It shall be and is
optional with this 1Nortgagee, as to what extent the provisions
of this paragraph ahall become effective and/or be enforced,
except the right is hereby reserved~by the Mortgagor to collect
the rentals under any lease on the premises, or any part thereof,
hereinbefore deacribed only as they accrue under any lease
acceptable to the lrbrtgagee and enforce collection of the
same and alao enforce all other prwisions of said lease or
leases, so long as there is no defau't on the part of said
Mortgaqor in any of the conditiona, covenanta or agreements of
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