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HomeMy WebLinkAbout1552 ~ . , , . i~ediately and without notice, vay institute proceedings to forecloae this mortgage and apply for the appoiutsent of a Receiver, ae hereiaafter provided. ~ 8. If any of the suas of ~oney herein r~f arred to be not prosptly and fully pald i withia thirty (30) daye next after the sa~e severally becowe due and payable. + or if each and every the stipulations, agrea~ents, conditiot~a aAd covet~ants of ~ said prosiesory note and this deed, or either, are not dulq perfor~ed, cveplied ~ with, and abided by, the aggregate sus advanced by SMA to the Iiortgsgor under the terms of the prrnnissory note and this deed then remaining unpaid, less any ~ consideration received by SMA for making this loan after deducting the costs of SMA in making this loan, shall beco~e due and payable forthwith or thereafter at the option of glyp~, as fully and conpletely as if said aggregate su~ of uoney ? were originally stipulated to be paid on auch a day, anything in said promissory ~ note or herein to the contrary notvithstanding. It is the intention of SMA that in no evert should the mortgagor pay twre than the legal rate of interest allow- ed under the Lavs of the State of Florida. 9. Until the default in the performance of the covenanta and agreeaents of this Hortgage, the Mortgagor shall be entitled to collect the rents, issues anci profits from the premises hereinbefore described, but in case of a default in any of the terms of this ibrtgage or the filing of a bill to foreclose this or anq other Hortgage encumbering the within described property. SMA shall imsediately, 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 monies, deposits and retirenues thereof. from whatsoever source derived, ~rith the usual powers and duties of Receivers in such cases;and such appointment shall be made by such court as a matter of strict right to SMAits successors, or sesigns, and vithout referenee to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency or insolvency of the Mortgagor, or Hortgagor's heirs, legal repreaentat- ives, successors or assigns. and that such rents, profits, prepaid rentals or security monies, deposits, incane and revernue shall be applied by such Aeceiver to the payment of the Mortgage indebtedness, cost and charges, according to the order of such court, and such Receiver may be continued in possession of the said property until the time of the sale thereof under such Foreclosure and until the confirmation of such sale by the court. 10. That in the event of any default in paqing the said principal or interest, the rents, prepaid securities and deposits, revenue and prof its 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 Nortgagor shall not erect or permit to be erected any new buildings on the premises herein mortgaged or add to or peYmit to be added to any of the ~cisting ; improv~ents thereon vi[hout the ~rritten consent of SMA. sAd in the ~vent of any ~ violation or attanpt to violate this stipulation this Plortgage and the iudebted- ~ ness secured hereby shall i~ediately become due and collectable at the option of ~ SMA. To keep the above described pr~isea in first class repair and in as good condition as they nrn,r are; to permit SMA to enter upon and viev said presises. ~ The buildings now located on premisea herein or which ~ay hereafter be located ~ or erected thereon shall not be relocated thereoa or removed therefroe, altexed ~ or ranodeled vithout the ~+ritten- consent of SMA or assigns; and, in case of breach of this condition, the partiee ao doing or the tiortgagor shall be lisble to St~SA or assigns for any damage or impairaent of the proparty securing this mortgage; and this mortgage and the note secured thereby shall, in its entiretq, becane i~ediately due and payable at the option of SMA . lhis mortgage liea- extends to any building now situate or which maq hereafter be situate or located on said pr~ises and materials composing said buildings, whether attached or detached to the real estate herein; and in case of the resoval of aay buildings nov ~located on said pre~ises or which may hereafter be located therwta or the material cosposing same during the ter~ of thie ~ortgage to some ether praoises. the lien of this mortgage shall ranain and be enforceable agalnst r~aid building~ or material wherever same may be moved or relocated. ~ 12. If foreclosure proceedings of any inferior mortgage or truet deed or of any lien ~ of any kind should be instituted,g~p may, at its option, i~ediately os there- after declare this Hortgage and the indebtedness aecured hereby due and payable. 13. That in the e~vent the Mortgagor should assign the renta of the sortgaged prr~isea or any part thereof without the consent of SMA , then tbe entire prituipal sua ~ecured hereby shall, at the option of SMA , became imdediately due and paqable. 14. That in the event the premises hereby mortgaged, or a~r part thereof. shall be condaa~ed and taken for public use ut~der the power of sinent do~tin, SMA •hall have the right to dmand that all daaages awarded for the taking of or daaages to said prsises shall be paid to SMA, it• successors or assigns, up to the amount then unpaid on thia Mortgage and say be applied upon the piy~ent or ~ paysents last payable thereon. 3 a~204 p~i551 ~ ~ ~ . _ - ~ ~w-~. - ~ ~ ti ~ s~~~_~ ~ ~ ~ ~r~~ 4~ f