Loading...
HomeMy WebLinkAbout1544 ~ i~ediatelq and without notice, ~sy institute proceedings to forecloae this sortgage and apply for the appointsent of a Receiver. as hereinafter provided. 8. If sny of the sums of money herein referred to be nat prosptly aiad fully pald within thirty (30) daye next after the saae severally become due and payable, or if each aud every the stipulations, agseaments, conditions aAd covenants of said promiseory no~e and this deed, or~either, are not duly perfor~ed, co~plied with, at~d abided by, the aggregate su' advanced by SMA to the Mortgagor under the terms of the pranis8ory note and this deed then remaining unpaid, less any cansideration received by SMA for aaking this loan after deducting the costs of SMA in making this loan, shall become due and payable forthwith or thereafter at the option of g~, as fully and co~pletely as if said aggregate sum of ~aoney vere originally stipulated to be paid on such a day, anything in said promissory note or herein to the contrary notvithstanding. It is the intention of SMA that in no event should th~ mortgagor paq ~ore than the legal rate of intereet allow- ed under the Lavs of the State of Florida. 9. Until the default in the performance of the covenants and agreements of this Mortgage, the Nortgagor shall be entitled to collect the rents, iasues and profits from the pr~nises hereinbefore described, but in case of a default in any of the terms of this ?brtgage or the filing of a bill to foreclose this or any other Hortgage encumbering the ~rithin described property, SMA shall immediately, and vithout notice and as a matter of strict right. be entitled to the appointment of a Receiver of the mortgaged property,'both real and peraonal, and of the rents, issues, profits, prepaid rentals or security nonies, depoeits and re~reaues thereof, from whataoever source derived, vith the usual powera and duties of Receivers in such cases;,and such appointment shall be made by such court as a matter of strict right to SMA its succesaors, or aseigns, and without referenee to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency or insolvency of the tbrtgagor, or 1~1~ortgagor's heirs, legal repreaentat- ives, successors or assigns, and that such rents, profits, prepaid rentals or security monies, deposits, incaue and reve~nue shall be applied by such Receiver to the payment of the Mortgage indebtedness, cost and charges, according to the order of such court, and such Receiver may be continued in poaseesion of the said property until the time of the sale thereof under auch Foreclosure and until the confirmation of such sale by the court. 10. lhat in the event of any default in paying the said principal or interest, the rents, prepaid securities and deposits, revernie and profits of the said premises are hereby assigned to the holder of this Mortgage as further security for the payment of the said indebtedness. 11. The Mortgagor shall not erect or permit to be erected any new buildings oa the prenises herein mortgaged or add to or permit to be added to any of the existing improv~?ents thereon without the written consent of SMA, and in the eveat of any ~ violation or attelnpt to violate this stipulation this Iiortgage and the indebted- ~ ness secured hereby shall immediately become due and collectable at the option of ~ SMA. To keep the above described presises in first class repair and in as good ~ condition as they noW are; to permit SMA to enter upon and viev said premiaes. The buildings no~ located on pre~nises herein or wt?ich may hereafter be located or erected thereon shall not be relocated thereon or removed therefron, altered or r enodeled without the vritten consent of SMA or assigns; and, in case of breach of this condition, the partiea so doing or the Alortgagor shall be liable to S2rIA or assigns for any damage or impairsent of the property securing this mortgage; and this mortgage and the note secured thereby shall, in its entiretq, becane i~ediately due and paqable at the option of SMA . This mortgage lien- extends to any building now situate or ~rhich may hereafter be aituate or located on said premises and materials composing said buildings, whether attached or ~ detached to the real estate herein; and in case of the removal of aay huildings ~ no~ located on said premises or vhich may hereafter be located thereon or the ~ material camposing same during the term of this ~ortgage to aome ether preaises, i the lien of this mortgage shall renain and be enforceable againat said buildings ~ or material wherever same may be moved or relocated. ; 12. If foreclosure proceedings of any inferior mortgage or trust deed or of anq lien ; ~ of any kind should be instituted,g~p may, at ita option, im~ediately or therr ~ after declare this ?brtgage and the indebt~dness secured hereby due and payable. ~ 13. That in the event the Mortgagor should sesign the rents of the mortgaged preaises or any part thereof Without the consent of SMA , then the entire prituipal au~ eecured ~ ~ hereby shall, at the option of SMA , becose imsediatelq due and payable. : 14. That in the event the premises hereby mortgaged, or any part theieof~ shall be ~ ~ condem~ed and taken for public use under the pover of eoinent do~ain, SMA shall have the right to demand that all damages awarded for the taking of or da~agea ~ to said pre~ises shall be paid to SMA, its succeasors or assigns, up to the ' asount then unpaid on this tiortgage and msq be applied upon the paysent or ~ ~ payments last payable thereon. ~ y ~ ~ ~ x 3 ~ 204 ~~.5~~3 ~ ~ ~ ~ > - _ - ~ V ? ' r.5 ~'1 s~ Xr~, ~'F~ ~S~fi`~`^P.~?si~"~-~s ~ ~ ~ e .