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HomeMy WebLinkAbout1000 intome, profits, issues and ?eve~+ues o~e hereby mo~tgoged os if spetifKally sef forth and deu~ibed in the y~antin9 ond habendum clouses hereof, and such rcceiver sholl hove oll ~he brood ond effective functions and powen in any wise entrusted by a tou~t to 0 receiver~ ond suth appointment shall be made by such cou~f os an admitted equity ond a matler of absolute ~ighf in the Mortqagee, ond wiN~out reierence to the adequocy or inadeqvocy of the volue oF the p~operty mortgaged, o~ to Me solvency o~ insolvency of the Mortgaqor ond/o~ the defendant and such rents, profits, income, issues ond revenues sholl be applied by the receiver occo~din9 to fhe lie~ ond/or equity of this mortgage and the proc?ice of such court, ond such appo~ntment of receiver shall be without notice to any obligor he~eunder, NINTH: The Mortgagor hereby waives oll rights of homesfead ond exemption granted by the Constitutio~ and lows of Ftorido. It is specifically agreed that time is of the essence in this contrat~ ond that no waiver by the Mortgagee of any obligation he~eu~der or of the obligation secured he?eby sholl at any time thereafter be held to be a waiver of the terms hereof or of the obligafion secured he~eby. TENTH: Upon any sale, transfer or conveyance of the property herein described ond covered by this mortgege to any person, firm or corporotion, not previously opproved in writing br the holder of this mortgage, the Mortgogee or holder shall hove the right fo auelerote the moturity of this mo?tgage as though it were due and payoble on the doy of such traosfer and fo demond payment in full of the said mortgage amou~f or ony unpaid balance thercof, und to exercise all the riqhts ond remedies he~ein or br law reserved to soid Mo?tgagee the some as in ony event of defavit hereu~der, onything in the p~omissory note secured hereby o? herein ro Me co~trory ~othwifhstanding. BEVENTH: If foreclosure proceedings of any second mortgage or seca+d tnist deed or any jv~io~ lien of ony kind should be instituted, the Mortgagee may, at its option immediotely or thereafter declare this mortgoge and the indebted~ess secu~ed heraby due arid payable. TWafTH: Thot in the eve~t the premises hereby mortgaged, or anr po?t the~eof, shall be condemned and taken for public use under Me powe~ of eminent domoin, the Mo?tgogee sholl hove the right to demond thaf oll damoges awarded for the faking of or damoges to said premises sholl be paid to the Mortgagee, up to the amount then unpaid on this mortgege and the obligation secured hereby and may be applied upon the perments Iast payable under this nartyage and the obligotion setured hereby. THIRTEENTH: That irntellments, porable under the terms hereof and the note secvred herebr, not paid when due, shal) be subject, after fifteen (15) days from the due date thereof, to, and it is agreed Mortgogee shall collect thereon and therewith, a "late thar~e" in Me amount of four per tent (4~) of the installment due upon eod~ such delinquent installme~t, and such "late chorgei' are secured by the lien hereof. FOURTEENTH: Without impairing the obligations of Mortgayor contoined in paragraphs SKOND, THIRD and FOURTM hereof, and for application to the purposes thereot insofor as the same shall be suf~itient, Mortyagor shall, in addition to the monihly paymeMs of principot ond interest as stated in ihe original note (and in the note or notes secured hereby) p~ovided to be made. Pay a monthlr sum and amounf equal to one-twelfth (1/12) of the estinwted amuel taxes, asseuments ond i~uronce premiums upon the real estate secu?it~r, as the amount thereof is determined from time to time by the Mortgagee. flFTEENTH: That the Mortqegcx shall fumish omually, of the request of the Mortgugee, finarwial statements in form ond ; certified in a manner wtisfactory to the Mortgagee. ~ I ~ $IXTEENTH: TMis mo~t9a9e a~so sea~es a^y and a~l renewals aed extensia~s of the promissory note referred to herein and secured herebr, and all i~tallments thereof, and also any other notes which have been or mar be given to the Mortgayee by the Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee whicfi, however, shall not exued at any one time the aggregate unpoid principal wm of - ONE HUNDRED SEVENTH FNE THOUSAND AND NO/100 ~~a~ ~s 175, 000. 00 it being the specifit intention thot fvrther edvonces mar be made by the Mortgagee at its option fo the Morfyagor, either prar to or oher the due dates of the above refer~ed to promissory note hereby secured; and this mo~tyage is given for the specifk purpose of securin~ ony and all indebtedness by the Mortgagor to the Morfgage~ in whatever manner the same moy be evi- denced of represented, until this mortgage is sotisfied of retord; and oll oovenants and agreements contained in this mortgage shall be applicable to all further and future advances made by the Mortgogee to the Mortgagor and all other indebtedness of Mort~agor b the Mortgagee, and any and all renewols or exteruions thereof. ` - ~ Q~ - . . - . i ' ~ ~ . ~ SEvENTEE/~/Ty: Mortgagor covenants and agrees that until this mortgage is satisfied ~~l contributions received by it desigaated for its building fund shall be applied to the payments due hereuader or to reduce the principal outstanding on this mortgage. BOOK ~V~ PACE.LOl1V -3- - - -