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~RECEIVEO ~ . ? IN PAYMENT OF Tlll(ES
Dl~ ON CUSS 'C' INTAIi616tE PERSOMAI PROPERIY,
PURSIlANT ?0 CHAPTER 20121, ACTS OF 1941.
ROGER POITRAS, Clerk Gauit Court
as Agent 1ot OANIEI N. KNOWLES~ 1R~
St lucie Counry Tax Collecto~
s tandard fire and extended coveraqe pollcy or policies , i~ a sum equal to tha htqhest
insurable value, issued by a company or com , such
policy or policies to be held by and be payable to the Mortgaqee, ~~r{~~ event
any sum of money becomes payable under such policy o~ policies, the Mortqaqee
shall have the optlon to recelve and apply the same on account of the indebtedness
hereby secured or to permit the Mortqagor to receive and use !t or any part thereaf
for other purposes , without hereby waiving or impairing any equity, 1len oc right
under or by virtue of this mortgaqe, a~d if the Mortqagor shall fatl to cause such
insurance to be carried and paid for, the Mortqaqee may place and pay for such insur-
ance or any part thereof without waivinq or affectinq the option to foreclose or any
Hght hereunder, and each and every such payment shall bear lnterest from date thereof
at the highest permissible legat rate of interest.
S. VYaste; The Mortqaqor shall permit, commit, or suffer no waste, impair- ~
ment or deterioration of the Property, except reasonable wear and tear, and in the
event of faiture of the- Mortgaqor to keep the buildings constituting a portion of the
Property or improvements thereon f~ qood repair, the Mortgagee may make such
repairs as in its discretton it may deem necessary for the proper preservation thereof,
and the full amount of each and every such payment shall be due and payable thirty
days after demand, and shall be secured by the lien of this morigage.
6. AcceleraUon of maturitv of Note upon default: If any of said sums of
' money herein referred to be not promptly and fully paid within ten days next after the
same severally become due and payable, or if each and every stipulation, agreement,
condition and covenant of the Note and this mortgage, or either, is not promptly and ~
fully performed, complied with and abided by, the said_aggregate sum mentioned in i
the Note shall become due and payable forthwith or thereafter ai the option of the ~
Mortgaqee , as fully and completely as if the full principal amount here secured were
oriqfnally sttpulated to be paid on such date, anythinq in the Note or herein to the
contrary notwlthstanding.
7. Foreclosure of lien: If foreclosure proceedings of any mortgaqe encumber- ~
tng the Property or any lien on the Property of any kind should be instituted, the Mort-
gagee may, at its option, immediately or thereafter declare this mortqage and the r
indebiedness secured hereby due and payable.
8. Aopointment of receiver: Until default in the performance of the covenants
and agreements of this mortgage, the Mortgagor shall be entltled to collect the rents ,
issues and profits from the Property, but in case of a default in any of the terms of
this mortgage or the filing of a bill to foreclose this or any other mortgage encumbering
the Property, the Mortgagee shall immediately, and without notice and as a matter of
strict riqht, be entitled to the appointment of a receiver of the Property and of the
rents , issues , profits , pcepaid rentals or security monies , deposits and revenues
thereof, from whatsoever source derived, with the usual powers and duties of receivers
in such cases, and such appoi~tment shall be made by such court as a matter of strict
riqht to the Mortgagee and without reference to the adequacy or inadequacy of the
value of the Property, or to the solvency or insolvency of the Mortgaqor, and such
rents, profits, prepaid rentals or security monies, deposits, income and revenue shall
be applied by such receiver to the payment of this mortqage indebtedness , cost and
charges, according to the order of such court, and such receiver may be continued in
possession of the Property until the time of the sale thereof under such foreclosure and
until the confirmation of such sale by the court.
9. Contest of lien: If any action or proceeding shall be commenced by any ;
person other than the holder of this mortgaqe, to which action or proceeding the holder ~
of this mortgage is made a party, or in which it shall become necessary to defend or
uphold the lien of this mortgaqe , all sums paid by the holder of this mortgage for the
expense of any litiqation to prosecute, or defend the riqhts and liens created by this ~
mortqage (including reasonable counsel fees) , shall be paid by the Mortgagor, toqether
~
with interest thereon at the rate of six per cent per annum, and any such sum, and the ~
interest thereon, shall be a claim upon the Property, attaching or accruing subsequent ~
to the lien of this mortqage, and shall be deemed to be secured by this mortgage and by ~
the Note. In any action or proceedinq to foreclose this mortgage or to recover or collect ;
the debt secured thereby, the provisions of law respecUnq the recovery of costs, dis- ~
bursements and allowances shall prevail, unaffected by this covenant.
10. Condemnation: In the event that the Piroperty, or any part thereof, shall ~
be condemned and taken for public use under the power of eminent domain, the Mortqa- ~
qee shall have the right to demand that all damages awarded for such taking shall be
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