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HomeMy WebLinkAbout1508 i~edi~tely and without notice. may institute proceedings to forecloae this mortgage and ap~ly for the appointment of a Receiver, as hereinafter provided. 8. If any of the sums of money herein referred to be aot promptly and fully paid withia thirty (30) days next after the saae aeverally become due and payable, or if each aad every the stipulatione, agreenents, conditiona atyd covenants of said pramiasory note and thia deed, or either, are not duly perfottied, complied vith, and abided by, the aggregate sum advanced by SMA to the tt~ortgagor under the terms of the promissory note and thia deed then remaining unpaid, less any consideration recgived by gMA for making this loan after deductiag the costa of SMA in making this loan, shall become due and payable forthwiLh or thereafter at the option of g~, as fully and completely as if said aggregate sum of money . were originally stipulated to be paid on such a day, anything in said prrnaissory 1 note or herein to the contrary notwithstanding. It is the intention of SMA thaf in no event should the mortgagor pay more than the legal rate of intereat allow- ed under the La~rs of the~State of Florida. 9. Until the default in the performance of the covenants and agreeeaents of this P6ortgage, the Mortgagor shall be entit2ed to collect the rents, issuea and ptafits from the premises hereinbefore described, Dut in case of a default in any of the terms of this Mortgage or the filing of a bill to fo'reclose this or any other "~Mortgage encumbering the ~,rithin described property, S~+IA 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 monies, depoeits an~,revenues thereof, from vhatsoever source derived, with the uaual powets and duties of Receivers in auch casea;,and such appointment shall be made by such r_ourt as a natter of strict right to SMA its successors, or assigns, and without referenee to the adequacy or inadequa~y of the value of the property herebp mortgsged, or to the solvency or insolvency of the Mortgagor, or l~fortgagor's heirs, legal representat- ives, successors or assigns, and that such rents, profits, prepaid rentals or security monies, deposits, income and revernue sha12 be applied by such Receiver , to the paym~nt of the Mortgage indebtedness, coat and charges, according to the order of such court, and sueh Receiver maq be contirn~ed in possession of the said pzoperty until the time of the sale thereof u~er such Foreclosure and until the confirmation of such sale by the court. 10. That in the event of any default in paying the said principal or interest, the rents, prepaid securities and deposits, revem~e and profits of the said premises are hereby assigned to the holder of this l~Lortgage as further security for the payment of the said indebtedness. 11. The Mortgagor shall aot erect or permit to be erected any new buildinge on the pre~aises herein mortgaged or add to or permit to be added to any of the existing , improv~nents thereon without the ~,n itten consent of SMA, and in the event of any violation or attempt to violate this stipulation thia l~brtgage and the indebted- ness secured hereby shall in~ediately become due and collectable at the option of SMA. To keep the above described premises in first class repair and in as good condition as they now are; to permit 3MA to enter upon and view said premiaes. The buildings now located on premises herein or Which may hereafter be loCateti ' ar erected thereon shall not be relocated thereon or removed therefrom, altered or re~nodeled without the written consent of SMA or assigns; and, in case of breach of this condition, the parties so doing or the Mortgagor shall be liable to St+1A or assigns fdr any damage or impalrment of the propertq aecuring this mortgage; and this mortgage and the note secured thereby shall, in it8 entiretq, become i~ediately due and payable at the option of SMA . lttis mortgage lien- extends to any building nov situate or which maq hereafter be aituate or located on said premises and materials composing said buildings, vhether attached or detached to the real estate herein; and in case of the raaoval of any buildinga noar located on said premises or which may hereafter be located thereon or the material composing same during the term of this mortgage ta some ~ther premiaee. the lien of this mortgage shall re~aain and be enforceable against ~?aid buildinga or material wherever same may be moved or relocated. ~ 12. If foreclosure proceedings of any inferior mortgage or truat deed or of anq lien of any kind should be instituted,g~p may, at its option, i~mediatelp_or theze- after declare this rbrtgage and the indebtedness aecured hereby due and payab2e. 13. That in the event the Nortgagor should assign the renta of the oortgaged prr~sisea or any part thereof without the consent of SMA , then the entire principal sum secuzed hereby shall, at the option of SMA , become im~ediately due ancl paqable. . 14. That in the event the p~emises hereby mortgaged, or au3r part thereof, ahall be conde~mcied and taken for public use under the power of e~inent do~~a~ SMA shall have the right to danand that all damages awarded for the taking of r damages- to said pr sfaes ahall be paid to SMA, its succesaora or assigns, up to the amount then unpaid on thia Mortgage and may be applied upon the paq~~nt oz payments last payable thereon. . , 3 BOOK ~U5 PAGE 15Q0 • s ~ ~'r~.~~~ ~ ' ' - - , . ,'~~afi~'v'~"'~'~~ " `J'- ~a~ '