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HomeMy WebLinkAbout0616 ' . ~ncun~, p~ofits, issu~s nnd ~~v~nue: o?~ h~reby mo?~poped a: if specificollr stt iorM and dexribed in ~h~ ~~a~tiny ond hobe~dwn clovs~s 1+~rsof, cnd such r~ttivt~ sha~l hove oll Me brocd ond effectiv~ functions and pow~n in onr wis~ entrvittd by a couN to 0 receiver, and iucA oppo~ntment shotl be made br sud? court as on admitted equity and a n+aner of obsolute ripht in the MoN~o9e~, cnd witFwut reference to N+e odequacy o? inadeqvocy of the volv~ of the propenr mortqo9ed, o? to the solvency or insolv~ncp of the Mo~tQo~or ond/o~ the defendont cnd such rents, profits, intome, issues ond revenues shall bs opplied by the ?~ceiver occo~din~ to ths iien ondlor eqvity of this mo?t9oye ond Me procrice of such couM, and such appointment of receive~ sholl be withovt notice to ony obli~or hereunde~. NINTH: The Mort~aqor hereby waives oll ri~hts of homestead ond exemption gronted by the Constitutio~ and laws of Fbrida. h is specifically a~reed that time is of the essence in this cw.+trad ond thct no waiver by the Mortgagee of ~ny obliqation hereunder o~ of the obliyotio~ secured hereby sholl ot any time thereefte~ be held to be a waiver of the terms hereof or of Ihe obli~ofion setvred hereby. TENTH: Upon any sole, transfer or conveyance of Me property herein described and covered by this mo?tyage to any person, Rrm or mrpo~ation, not previously opproved in w~iting by the holder of this nwrtgage, the Monqagee or holder shoU have the right to oaelerote the moturity of this mo?tgege as though it were due ond payable on the day of such trorufe~ and to demond poyment in full of the said mortpage onaunt or any unpaid bolence thereof, and ro exercise all the rights ond remedies herein or by low reserved to said Mort~a9ee the some os in ony event of default hereunde~, onythin9 in the promissory note secvred hereby or herein to the oontrory nofhwithsfanding. aEVENTH: If foreclosure proceedin~s of any setond mortgage or second tnnt deed or any junio~ lien of~any kiod shovld be i~tituted, the Mortgogee may, at its option immediotely or thereofter dedare this mortgage and the indebtedness secured hereby due ond poyable. TWaFTH: That in the event the premises huehY mortgaged, or any part thereof, shall be condemned and token for public ~se under the power of eminent domain, the Mongogee shall have the right to demand that all damages awarded for the taki~g of or damages ro said prenuses shall be poid to the Mortgagee, up to the amount fhen v~aid on this mortyage and the obli~otion ' secured hereby and may be opplied upon the porments last payable under this mortgaye and the obligation secured hereby. THIRTEENTH: That installments, poyable w~der the terms hereof and the note sacured hereby, not paid when due, shall be subject, after Bkeen (15) doys from the due date thereof, to, and it is ag~eed Mortgagee shall aolletf thereon and therewith, a "late charge" in the amamt of four per cent (4~) of the installment due upon each wd~ delinquent irutallment, and wch "lote charges" are secured by the lien hereof. FOURTEENTH: Without impoiring the obligotrons of Mortgago? contained in paragraphs SKOND, THIRD and FOURTH hereof, and for applicotion to fhe purposes thereof i~ofar os the same shall be wfficient, Mortyagor shall, in addition to the ~~Y PaY~^h of principol and interest os stated in the o?iyinal note (and in the rate or notes secured hereby) provided to be made, pay a monthly sum and amount equal to one-twelfih (1/12) of the estimated amual faxes, assessments and inwronce premiums upon the real estate seariry, as the cmount thereof is determined f~om time to time by the Mortgagee. - i ! ~ HFTEENTH: That the Mo~igagor shall fumish annually, at the request of the Mortgagee, flnarr.ial statements in form and certified in a manner satisfactory to the Mo~tgagee. $IXTEENTH: This mort~oge alw setures any and all renewals and extensiau of the promissory note refer~ed to herein and ~ secured hereby, and all irutollments thereof, and also any other notes whicfi have been or may be given to the Mortgagee by the ~ ~lortgagor, and any other indebtedness of the Mortgagor to the Mortgagee which, howerer, shall not excecd at any one time ~ the aggregete unpoid principal wm of FIFTEEN THOUSAND AND NO/100w~~~~~r~~~~~~..~.~~~r~~r~~~.~~~~an ~s 15,000.00 it being tfie specific intention that furthe~ advonces may be made br the Mortgayee ot its option to the Mortgagor, either prior to or aher the due dates of the above referred to promissory note herebr secu~ed; ond this nangage is given for the specifx purpose of securing anr and all indebtedneu br tl~e Mortgaqor to the Mortgayee in wfiotever manner the same moy be evi- denced or represented, until this mortgage is safisAcd of Feoord; ond all covenants and agreements contained in this mortgage shall be opplicable to oll fu?ther and fuhrre advances made by ihe Mortgagee to the Mortgoqor ond all other indebtedneu of Mort~agor to the Mortqa~ee, and any and all renewals or extensions thereof. - SEVENTEENTH: 1~V o agors, as a condition and~cov ant of this Mortgage agree ~ to maintain all of their/~lf acco~ts and all their/ ~ accounts, and otherwise ~ do all of their F'lorida banlang with the Mortgagee during the life of this mortgage. -3- o R ~1 ~ 6~5 800K - ~ ~ „ - . ~ : x ~ "