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ti. Unt~l ~icF:iult in the ~x~rFurn~ance uf tl?e rn~•rnants anci :i~;r~~~•iurnts uf t}?is mort~;u~;e, tl~e niortgagors shall be enlitl~~cl
tu collect tt~e rents, ;ssues :?ncl p~ofits frum the pre~nises hereinbe[on+ descri~~cl, b?it in case uf a default in any of the tern~s of
this mortgage, and the filing of a bitl to forecluse this or any other m~~rtfia~e rncumbering the ~vilhin descrilx•cl property~, the
.\~sociation shall imme~li:~teh• :ind ~~~ithcut nuticr be entid~Yl to the ap~wintme»t of a Receivrr of the mortRagecl pro~xrh•, and
of the rents, issues ;?nd prufits therEnf, ~~•ith the ILSU:II }w~~'er oF Receivers in such cases, and such Receiver may be crntinuecl
in ~x~s,c~.siun ~~f the ~aid ~~ru~xrh- until thr time of the sale thercof undc~r such (oreclusurt•, and until th~~ cvnfinn:~tiun of such
.al~• b~ th~~ Cuurt.
9. lf a~~nve~<?ne~: slroulcl l,e made by the mortgugors of the ~xe~mis~•s herein d~~scri~rcl, or am~ part dierrof, ~~~ithout
th~• ~~~ritte~n rnnsc•nt ~F tht~ Ass~x•i.~ti~?ii, and ~~-ith~~ut ass~nn~itiun in r~~~ular forn~ ~f la~v bv the ~rantce ~~f tl?:• ~~hl~gatio~~s to the
~.,~K~iatiun crc~ate~c~ h~• t:+icl E~mmisson• notr 1t7(I ~~ll~ uiurtt;a~r, t~u~u, an<~ in t~iat e~~ent, anc~ :?t the u~~tiun uf tLr As~cx•iatiun.
:u~~l ~~ithuut nntic•e, all :ums uf mcnu•~' i~r~~red I~ereb~~ shull imm~•diateh• and cYneeurrenth~ ~~'~th sunc ~~~m•t•~ancY IxYY~me clue a~ul
pa~:~ble and in def:uilt. 1'he As.wc•iation may deal ~~th successurs i~z interest ~~~th reFerence to this mortga~c and the debt hereb~•
.ecurr~ci in tl~e k~me manner as ~~•ith the rnort~a~;urs, and ma~~ furlx~ar tu suc~ or u~av ertrnd tim~ fur p:~~•mcnt ~~f t6c debt, securt~l '
i?ercb~•, or uthen~~i,e act ~~•ithout disch:ugi~?g ur in :u~~• ~~~:+v affeY•tiut; the~ li:ibilitv of the mort~;a~urs hcrcunder or u~wn the clel?t ~
he•re~!»• sec•t?md. The Assoeiation mav also de.~l ~~•ith che~ ~lortg:?g~~rs and, 'or ~~•ith sucti-e~ssun in interest ~~•iih mferc•nre to thi+
inurt~a~c and th~~ debt hrrrh~• .ecurrd h~• Eurl~earint; t~~ ~u~~, rxtcndin~ the time for paym~•ut oE thc debt, ~~ro~•iding for different
monthlv ~k1)•ments and/or a differe~~t interrst rate, anci bv other expn~s muclifications of thr c~mtr.~ct, ithout losing anr priorit~•
the :~ssociatio~ has o~~er other morifia~crs ur lienurs ~~r holders of anv junior interests in the pru~x•r1v .~Y•~~~~-:l t-~e;~-bv. ~
10. Th:it in the e~~cnt the• Ex~•misc. h~~rcl)~' ?IUI~~:I~tY~, ~~r :inv }~.lrt thereof, shal! I~e i•onde~nncd and taken for public ii~ ;
uu~ler tLe jw~~~•r of eininent dom.un, the .~iKK•iatiun shall }?:?~e thi• rit~ht to de~~n;u~d that all dama~;es a~~•ardc~cl for the taking oE or i
dama~~~ tu saicl ~remises shall ?x• P:?ic2 to the Asscx~iatiun, its success~~n or a.si!~r.s, up to the amount tu~~id on this mortgage and ~
m:i~• be apnli~~c1 uiw?i tt~e pa~~~nent or ~xi~•ments last pa~•able the~ee~n. ~
11. It is s~xrificalh~ aGreed that time is the cssenrF of this ~~c?ntract :ind t1~at no ~vai~•er of anv ublit;.itiun hereunder or of ~
tht~ ublit;ation secur~~c1 hereb~• sh.ill ~t .+n~• time themafter he held to Fx a~vai~•er of the terms or of t1~e instrument securecl hereby~. ~
1?. lf forec•li~curc: }~rcx.reclings of an~• sec~md mort~:ific or secY,nd tnut dcrd or any junior lien of :ny kind should be insti-
tutrcl, the Ass~~eiation ma~• :~t its optiun, immediatelv or thereafter ~lrelare this mortga~e and the indebtedness sFC!~~~ hr~ehv clue
and P:i~~able.
13. To th~• ~~xte•ut uf thc~ indcbtt•~Iness of the \lurtt;u~~orc t~~ the~ A~tc~ci:ition describc~ hcr~•in or scrurc~ci hrmby, the Asso-
ci,~tiun is herebv >ubro~;ateci to the lien or liens :?nd to the ri~hts uf the «~~•ne•rs and holders thereof oF eaeh ancl every mortgage,
lien or other encurnhrance on the land descrihecl herein ~~•hich i: ~~aid an~l ( c~rl satisfi~d, in ~~•hole or in part, out of the proceeds i
~~f the l~~an de~serilxYi hemin or sec•ured hercb~~, and the reslx~cti~•~~ liens of said mort~agrs, liens or other enc~imbrances, shallj~ass =
t~~ an<i Ix• held b~• the Asux•i:~tion herein as securitv for the incleLtc-dness to the Assxiation herein describecl or hembv secured, to ~
the s.ime i r!rnt th:?t it ~~•uuld ha~•e bc~en ixrsen•eci and ~~•ould havc~ l~n ~r.~sc,•cl to and been hel<1 by the Association had it 1~een `
~iuh~ and m~ularli• assi~ne~l, tr.insfermd, set ove~r and dcli~•rred unto th~~ Asux•iation b~~ srpar.?t~ de*ed of assi~nment, not~~~ithstand- '
in£ the f:ict that the s:une ma~~ be satisfieYl and cincelled of rec~rd, it l~ci~i~ the intcntion of the p.irtic~ hereto that the same ~~~ll ~
1?e sa:isfied aml cancellecl oF~recYUd 1>~• the hold~rs themof at or atxiut the time of the recordin~ of this mortga~e. -
14. To ~~:i~• all ~nd sin~ular the costc, char~es, and erpenses includin~; la~«~er i fecs, reasonabh• iticurrcd or paid at au~• ~
ti~ne b~• the :lssociatinn. }xY•ause of th~ f:iilure uf the \1ort~a~ors to ~crfonn, complv ~tizth :ind abide Uv each and even• stipula- ;
tii~ns, :~~reements_ conditiunc :~ncl cvn~t•nanls of sai~i ~~rornisu~n~ nute~ :incl this clf~ed, or eithe~r, .~nd et~en• sitch Pavmc=nt shall l>exr
interest froin dat~ at thc rate statt~~l in t~ie notr scY~un~d herel~~~.
15. Th.~t he ~~~ill ~x~rniit, commit, or suffer no w:iste, impairn~rnt, nr cl~•teri~~r:~ti~~n of ~aid ~xo~~ert~• ~~r :in~• }~.lrt thereof;
:~mi ~n the c~•ent of thc~ f.~ilure of the ~t~~rt!~:~~nrs to kee~~ th~ huilclin~, e~n saicl ~retnises ane! those to ~~~rected nn ~iid rremises.
ur ~m~zro~•ements therron in ~~xxl repair, thc: Association roa~~ make and pav for such r~pain as in its discrrtion it rna~• deem
ncrestan• for the pru~>er Presen•ation thercof, :ind the full amount of s~~ch p.t~•ments shall lx• secured hy the lien of this mortgage
:in~l ti}~all at the epti~~n of !he Associ.tion 1~ immc•diatel~~ due and pa~~:ible, or ~,:+~•able in such montt?lY installments as thc Associa-
ti~~n m:i~• de~tc~rmine. :ind e~~en• such r:?~-ment shall bear interc~t from date at the rate stated in th~ note secureci hereb~~. :
16. T6.~t if the Associ,ition :?nd thc ~tort~~~ors a~~rre, the ~1ort~a~ors ~~~ill cam• a Mlic~• or ix~licic~s uf u~sur~nce uFxm
thrir li~•es in au an~unt c~~ual fr~m timc t~~ time to the aino~x~t o[ ind~~btednc.s hercb~• ~crurcd, makin~ said Association bcnefi-
ii.ir~ llt~retinile~r, ,ind th:it the s:ii<I .~ss~x~iati~~n ma~• p:?~• thr Fremi~un~ f~~r suc}~ in~i~r:incr (in the e~•ent th~ \Iurtt~a~orc do nutl,
ancl acld c•ach .uch ~a~~ment to the un~aid balancr of the luan, as of th^ first dav c~f the then c~urent m~~nth, :uu1 it shall Uernmt•
:ul~liti~m:l1 inclebtc~lnc~~ Sf`Cll!tY~ ~~llS m~rt~.ige pa~•able ujxm dcm.iuc~.
1:. T~iat in !1ie e~•c•nt that t~~is me~rt~~:~~<~ l+e f;icen to st~c•ure a r~~mtn~cti~~n ~u:?n, ~:ii~e?re ~n t~~e ~~art of lhe \lurtti:l4(OTS ~~r
th~~ir ~Y~nh~acturs tu cosuPlete said hiiilclin~ in accordance ~cith Cein~tn~ctiuie Lu.in :l~;rec~me•nt, of e~'er? cl.~te here~~•ith, or to ht~ilrl
,:iicl c~,n.tructi~,n in acr~~rd,inct~ ~~•ith Ial,ins :u?d sjx•cificati~u~s filcil ~~it1? thc A~aK•i~ti,~n, c1ia11 constitutf~ a hrrach of this nu,rtga~~c,
;~u:l. :it the~ u~~ti~~n nf thc .1±s~~ci.~ti~ro, itnin~~~li;it~~h- mahu-e the cntirc~ :znian~~t ~~t ~irinci~.~l :ind iiite•rc~st h~•rcbt~ st~c•iirecl and tl~e A~s~~
i i.itiun m:i~• itnmccli:itch• i~~~ticut~• ~rr~rccdin~s to forrrlusc this ~nu~!~.?~c.
l5. That the ai~stract ur ah:tracts title cv~~erint; thr mnrt~~a~,~~ci ~~mtx~rt~• ~hall :+t all time~c, clurie~~ the liff~ ~~f this m~ut-
;.i~,e•, rrtn:?in iii the ~~~.~~:~i~~t~ ~>f t}~~~ :1~-.~~ci.~ti~~n .~ncl in the ecent ~~f thi• f-~ri•cl~~s~~re ~~f tLis rm~rtka~e or uther tr;ins(er ~~f title t~~
th~• in;irt~,a~,c~i ~~ru~~ert~• in e~xtin~ui~l~m~•td ~~f th~ indehtedness s~•cure~i }~~•~rh~•, all right, titlt•, and interest of the ~1~~rt~~.~~i~rs in
.ind t~~ am• surL ahstracts c~f titlc sh.,ll I,.i•s t~~ thr ~urchaser c,r ~r.inti~c.
ly. "The :~sti~,ciatinn shall ha~•r the ri~ht, in its (~i~r(ftlOIl. t(1 mc~uire~ th.~t th~ \tnrt~:~~irr~ ~~.?t• inh~ thc~ Asc~x•iati~m in addi-
tu~n to th:~ nr.mtl,h• iustailnu~nt~ i~f juinci~~al and inl!•n st t~~ l~c° j~.~i~l L~~ SLt~ \t~~rt~•a~~c~rs unilrr t}~~~ nutF sccnrc~tl h~- thi~ tni~rt~a~e>
.in .ir.ic,u±it t~~~u~l to ~~ne-i~~•e1Rh of thr :~miu:tl inst illments ~~f an~~ t,~~~•; i~n thi• r.a~rt~; ~c4YI I)Lt'IAiCC$ I~~~ ie~cl ur acs~~sse•ci b~• :im
~~u~i•rnm~~nt,~l .tuthurih~, .~nd one-t~~rlfth of thf• :~nnu.~l ~~re~miuui~ f~~r I~:rf~ :inil I?~1~n~lrcl (:~n-era~_~~ in,u~.nu~~ nn th~ inort~~~~~e~~l
}~rrrni,t~. .iti t~~~rrinl~~~f~,rc nv{uire~~? 1,~~ th~ :\••~K i.~ti~m. .~n~l th<~ \t~~rt~.i~urti~ f.iihirr t~~ rn.i~.c .nc}e ji.i~rnrnt. sh.ill e•~~n~titutr a i1<•f:?ult
ur~~lcr t~~i+ :nu~t~:~,i•.
I\ ~1"t'(\1•:titi \l 1l1•:}iF.Of'. thr ;,:icl \(~~r!;.i,~,r. h~ r~~itut~~ t tlirir l~ ~t~~ls ,~n~l .~.~1, tht• ~1.~~~ .~ntl ~c•ar Eirst :~lwt•c ~~rett~~ti.
r`- ,
s~~,~~~, .~1~ ~i .,~~~1 clrli~~ rr~l ~t:~~~ E,T~~;4«;~ ~,t POi~7PAN0 ~?5HOPP~R II~tC., a Florida
~ ` ~.~~ratton
~ '
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c~...~ ~..~~,r, _ By ~ ~ . _ _ (sF::~i.~
~ ~ A. J~ ~Pe' ~ iscl~ke ` Presiden!
/ ,
' l -rr=~l~C~ C-~/r~ 4 , Attest ~L7J ~c f~ :~i'~~F:AI.~
Helen Weini.schke, S~Er-~etax'y-Treasurer
, ~1~::1t. i
4 SF:AI.ti
~ i tqFSS E S MOR iGAGORS)
afl~~1y6 FA~~ 153
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