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HomeMy WebLinkAbout0115 13, If acf~ult bc r~ade in payment, whcn due~ of any indebtedness secured nereby~ or in perforr~nce of any of Mortgagor's ~bl~gations, covenants or agreements hereunder: N~rig~;cc is authorized at any tir~e, without noiice~ in its sole discrction to cnLer upon and iake possession of the premises or any part thereof~ to perfor~ any ac:s N~ortgagee aeems nacessary or p~oper to conserve the security and to collect ar.d receive ail rents~ issues and p~ofits thereof, including those past due as wetl as tr=ose accruing thereafter, and (b) M,ortgagee snall be entitled, as a matter of sirict right and without regard to the value or occupancy of the security~ to have a receiver appointed to enter upon and take possession of the premises. collect the rents end profits there- from and a~ply t~e same as Lhe c~urt ~ay direct. such ~eceiver to have all the rights and powers pernitted under the laws of Florida. In either such case Mortgagee or the receiver may also take possessian of~ • and for these ~urposes use, any and all personal property contained in the premises and used by Mortgagor in ihe rer,tal or leasing thereof or any part thereof. The expense (includ':ng receiver's rees, counsel fees, costs and ageni's compensation) incurred pursuant to the powers herein contained sha11 be secured hereby. Mortgagee shall (afLer paynent of all costs and expenses incurred) apply such renis, issues and profizs received by it on the indebtedness secured hereby in such order as N,ortgagee deternines. The right to e~:er and take possession of said property, io ~ cianage and opera~e Ltie same, and to collect the rents, issues and profits tnereof~ ~ ; w~etner cy a receiver or oLnerwise, shall be cur.~lative to any other right or remedy : . s ~ t zereuncer or a.`forced by law, and may 5e exercised concurrently therewith or independ- ~ e~tly tr.ereof. Kortgac~ee sha~1 be liable to account only for such rents. issues and ~ ~ profits aciually rece.ived by M~rtgagee. ~ ~ 1~. zne inaebiedness secured ne:eby is now or herearter furtner secured z ~ hy cnat:et czcrtgac,es, pledges. contracts of guaranty, assignment of leases, or oth,er ~ ~ securi~ies, or if t:e pre:~ises hereby encunbered consists of more than one parcei, N.cr,ga~ea .:.~y at i:s option exhaus: any one or more of said securities and the security ' r,ere,:~aer. or sLcn parceis of tne sec~rity tiereunder, either concurrently or independ- i ~ e~;iy, a^~ i~ s~c~~ order as it nay determine. ~ i i`? ~ f ~ ~ " - s~ 19~i ii4 ~ ~ ~T . . ~ - £ : .