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HomeMy WebLinkAbout2896 r i~ediately and without notice, nay institute procee~ings to foreclose this -wortgage and apply for the appointsent of a Receiver, as hereiaafter provided. 8. If aay of the suae of soney herein ref erred to be not prosptly and fully paid withia thirty (30) daye next sfter the sa~e severally becoaie due and psyable. ot if each at?d every the stipulationa, agreesents, conditions aAd covenants of said prosieeory note and this deed. or either. are not dulq perfoned, co~plie.d vith, and abided by, the aggregate sus advanced by SMA to the !lortgagor under the tenos of the prauissory note and this deed then remaining unpaid, less ary consideration received by SMA for making this loan after deductiag the coats of SMA in making this loan, shall beco~e due and payable forthvith or thereafter at the option of g~, as fully and cospletely as if said aggregate sua~ of money vere originally stipulated to be paid on such a day, anything in said promissory note or herein to the contrary not~+ithatanding. It is the intention of SMA that ~ in no event should the mortgagor paq sore than the legal rate of interest allow- _ ed under the Laws of the State of Florida. 9. Until the default in the performance of the covenants and agreesents of this ~ Hortgage, the Mortgagor shall be entitled to collect the rents, issues and profits fro~ the premises hereinbefore described, Dut in case of a default in any of the terms of this t~brtgage or the filing of a bill to foreclose this or any other Hortgage encumbering the within described property, SMA shall imoediately, 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 personal, and of the rents, issues, profits, prepaid rentals or security monies, depoaits and revenues thereof, from whatsoever source derived, with the usual powers and dutiea of ReceiveYs in such cases;,and such appointment shall be made by such court as a matter of strict right to SMAits successors, or assigns, and vithout refereaee 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 representat- ~ ives, successors or assigns, and that such rents, profits, prepaid rentals or $ security monies, deposits, incane and revernue shall be applied hy such Receiver ~ to the payment of the Nortgage indebtedness, cost and charges, according to the order of such court, and such Receiver may be contimied in posseseion of the said property until the time of the sale thereof_under such Forecloaure 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, revern~e and prafits of the said premisea 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 buildinge on the premises herein mortgaged or add to or permit~to be added to any of the existing ~ improvements thereon witrout the written consent of SMA, and in the eveat of any violation or attempt to violate this stipulation this I~fortgage and the indebted- _ j ness secured hereby shall i~ediately become due and collectable at the option of ~ i SMA. To keep the above described pre~ises in first class repair and in as good ° condition as they now are; to permit SMA to enter upon and viev said premisee. ~ The buildings now located on pre~ises herein or which nay hereafter be located ¢ or erected thereon shall not be relocated thereon or removed thereftom, altered ~ or resnodeled without the wtitten consent of SMA or assigns; and, in case of ; ~ breach of this condition~ the parties so doing or the I~brtgagor shall be liable , to StrlA or assigns for any damage or impairnent of the pzoperty securing this ; mortgage; and this mortgage and the note aecured thereby shall, in its entiretq, ; becane icm~ediately due and payable at the option of SMA . 1t?is mortgage lien~ extends to any building nov situate or which maq hereafter be situate or located . ~ on said premises and materials caoposing said buildings, whether attached or ~ detached to the real estate herein; and in case of the rmoval of aay buildings } no~ located on said premiaes or which may hereafter be located thereoa or the F material composing same during the term of this mortgage to aome ether prsisea, ~ the lien of this mortgage shall renain and be enforceable against said buildiags or material wherever same may be moved or relocated. ~ 12. If foreclosure proceedings of any inferior mortgage sr trust deed or of aay lien ' of any kind should be instituted,S(u~ may, at ite option, i~ediately or these- ~ after declare this l~brtgage and the indebtedneas secured hereby due and paqable. ~ 13. That in the event the Iiortgagor should assign the rents of the mortgaged presises ~ or any part thereof vithout the consent of SMA , then the entire principsl sus securad ~ hereby shall~ at the option of SMA , became imvediatelq due and payable. Z4. That in the event the premises hereby mortgaged, or atry part thereof, shall be z condemned and taken for public use under the pover of e~inent da~ain. SMA shall ~ have the right to de~oand that all damages avarded for the taking of or da~ages ~ to said prsises shall be paid to SMA, its successors or assigns, up to the amount then unpaid on this I~Iortgage and say be applied upon the paydent or ~ paysents last payable thereon. ~ ~ 3 2UOK~O4 PACE~(~~~ ; _ - . . ~ -t. 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