HomeMy WebLinkAbout0127 . ~
income, profi~s,~issues o~d reven~es are hereby mo~tgoged as if speciFically set forth and deuribed in t~e q~antin9 and hobendum
clouses hereof~ o~d such receiver sholl hove all the broad and effective functioni and powen in ony wise entrusted by o court fo 0
receiver, ond such appointment s~+ell be made by suth cou?1 os on admitted eqvity and a motter of obsolute riphf in the Mort~Qyee,
ond without ~eference to Ihe odequacy or i~odequacy of the volue of ?he property mortgoged, or to the solvencr or insolvency of
the Morfqagor and/or Ihe defendont end suth renfs, profils, intome, issues and revenues shall be opplied by the reteiver octordin~ ~
to the lien and/or equity of this mort9aye and fhe ptatfice of such tou?f, and such oppoi~tment of receive? tihall be withouf notice
to ony obli~or hereunder. ~
NINTH: The Mortgopor he~eby waives all riyhts of homestead and exemption q?anted by fhe Co~sfitution and lows of
Fbrida. It is specifically opreed that fime is of the essence in this tontract ond that no waiver by Me Mo~tqa9ee of ony obli9otion
he~eunder or of Me obligation sctu?ed herebr shall ot ony time fhereafter be held to be a woive~ of the ~erms hereof or of the
obli~ation secured he~eby.
TENTH: Upon any sale, trensfer or conveyonce of the property herein deuribed a~d covered by th~s mort9oqe to ony
pena?, fi~m or torporotion, ~t previously opproved in writiny by fhe holder of fhis mortyo~e, the Mo~tqogee or holde~ shall have
the ri~ht ro occelerote the maturity of Mis nwrt~age as thou~h it were due ond poyable on the doy of wd~ tronsfer end to demand
poyment in full of the soid mortya~e amount or any unpaid bolante thereof, and to exertise all Ihe ?iqhts and remedies herein or
br law reserved to said Mortgogee Me same os in any event of default hereunder, onyMin~ in the promissory note secured
hereby or herein to fhe contrary nofhwithstandiny.
~EVENTH: If fo~etbsure proteedinys of ony setond mortgage or setond frust deed o~ any junior lien of anr kind should
be instituted, Me Mortyoyee n?oy, ot ih option immediately or thereofter declo~e this mo~tpa~e and the indebtedness secured .
hereby due and payoble.
TWBFTH: Thot in the event the premises he~eby mort~a9ed, or anr part thereof, shall be condemned ond taken fw public
use w~der the power of eminent domain, the Mort9agee shall have the riqht to demand fhot oll domapes awarded for the fokinp
of or domages to said premises sholl be paid to the Mortyayee, up to the amount Men unpoid on this nwrt~a~e and the obligotioh
setured hereby and may be opplied upon the poyments Iest parable unde~ this mort~ope and the obliyation secured he~eby.
THIRTEENTH: That instollments, poyable under the terna he~eof and the note secured he~eby, not poid when due, shatl be
subject, oher Rfteen (15) days from the dve dote thereof, to, ond it is a~reed Mort~a9ee shall collect thereon ond therewiM, a
"late charye" in the amount of four pe~ cent (4~) of the iostallment due upon each wch delinquent installment, and sud~ "lote
charges" ore secured by fhe lien hereof.
FOURTEENTH: Without impoiriny the obli~ations of MortQa~o? contoined in paraqrophs SKOND, THIRD w+d FOURTH
he~eof, and for applicotio~+ to the purposes fhereof iruofor os the same shall be wfFitient, Mort~ayor shall, in addition to the
awnthty Parmenls of prindpol and interest as stated in the ori~inol nofe (and in the note or nofes secured herebyl provided to bs
made, par a monthlr sum ond emounf equal to one•twelfth (1 /14) of tfie esNmated aruwal taxes, assessmenh and inwrance
premiums upon the real estote sacv~ty, os fhe amount thereof is determined from time ro time by the Mort~a~ee.
i NFTEENTH: That the Mort~a9or shall fumish omually, ot the request of the Mortqayee, flna~xial stotements in form and
E certified in a monner sotisfactory to the Mortya~se.
SIXTEENTH: This mo~t9oye also secures any and all renewals and extensions of the promissory rwte refe?red to herein and
secured he~ebr, and oll irotollments thereof, and olso any other notes which have been or may be given to the Mon9oqee by the
Mortgagor, ond a~y orher ~ndebredne:s of M?e Morr9a~or ro?he Morr~ayee whith, however, sholl nof exceed at any one time
the aqgreyote unpaid principal sum of - - _ _
-----FIFTl THOUSAND AND NO/100------------------- 50, 000. 00
_ Ddlors lS _
_ _ - _ _ - - - -
it beinq the specific intention thof fvrther odvances may be mede by the Mortgopee at its option b fhe Mo?tqaqor, either prar to
w aher the due dates of 1he above referred ro promissory note herebr secured; and Mis nartqoQe is yiven for the speciAt
purpose of securin9 anr ond all indebtedness by the Mort~apor to the Mort9a~ee in whatever manner the sarne may be evi-
denced w represented, until this mort~a~e is satisfkd of record; ond all covenonts ond aqreements contoined in this na.t9a4e
shall be applicable to all furfher and future odvonces made br the Mort~a~ee to the Mortpa~or ond all othe~ indebtedness of
Mort~a9or to the Mortyaqee, and ony ond all renewols or exteruio~+s thereof.
- SEVENTEENTH: 11lortgagor, as a condition and covenant of this Mortgage. agrees to
~ maintain all of its Florida checking accounts and all of its Florida savings accounts
and otherwise do all of its Florida banking with the Mortgagee during the life of
this mortgage.
B~~ 195 ~ .~27
-3-
~ . :
,