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HomeMy WebLinkAbout1672 i~ediataly amd without notice. say institute proceedings to foreclose this sortgage aad apply for the appointaent of a Receiver. as hereinaftet provided. ~ 8. If any of the au~s of soney herein ref erred to be not prosptly and fully psid within thirty (30) days next after the aa~e severally beco~e due and payable, or if each and every the stipulations, agree~ents, conditions and coveAants of said prosieaory note and this deed, or either, are not dulq perfor~ed, cosplied with, and abided by, the aggregate su' advanced by SMA to the Mortgagor under the terms of the promissory note and this deed then rewaining unpaid, leas any ; consideration received by SMA for naking this loan after deducting the coats of SMA in making this loan, shall become due and payable forthvith or thereafter at the option of g~, as fully and cospletely as if said aggregate sua of money were originally stipulated to be paid on such a day, anything in ~said pramissory note or herein to the contrary notwithstanding. It is the intention of SMA that in no event should the mortgagor pay more than the legal rate of interest allov- ed under the Lavs of the State of Florida. 9. Until the default in the performance of the covenants and agreaaents of thie Mortgage, the Mortgagor shall be entitled to col~ect the rents, issues and profits from the pranises hereinbefore described, but in case of a default in any of the terms of this I~brtgage or the filing of a bill to foreclose this or any other Nortgage encumbering the within described property, SMA shall i~mediately, and vithout notice and as a matter of strict right, be entitled to the appoint~ent of a Receiver of the mortgaged property, both real and personal, and of the rents, issues, profits, prepaid rentals or security monies, deposits and revenues thereof, from whatsoever source derived, vith the usual powers and dutles of Receivers in such cases;,and such appointment shall be made by such court as a~atter of strict right to SMAits succeseors, or sesigns, and without reference to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency or insolvency of the Nortgagor, or Mortgagor's heira, legal repreaeatat- ives, successors or assigns, and that such rents, profits, prepaid rentals or security monies, deposits, incame and revenue shall be applied by such Receiver to the payment of the Mortgage indebtedneas, cost and charges, according to the order of such court, and such Receiver may be continued in possession of the ~aid 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 deposita, revern~e and pYOfits of the said preoises are hereby assigned to the holder of this Mortgage se further security for the payment of the said indebtedness. 11. The Mortgagor shall not erect or permit to be erected any new buildings on the premises herein mortgaged or add to or permit to be added to any of the existing I improvements thereon without the written consent of SMA. and in the e~rent of any j violation or attempt to violate this stipnlation this Pbrtgage and the indebted- ° ness secured hereby shall i~ediately become due and collectable at the option of I ~ SMA. To keep the above described pr~ises in first class repair and in as good ~ condition as they nov are; to permit SMA to enter upon and view said premiaes. r The buildinge nov located on presoises herein or which maq hereafter be located ~ or erected thereon shall not be relocated thereon or removed therefrod, altered ~ or resaodeled vithout the written consent of SMA or assigns; and, in case of breach of this condi[ion, the parties so doing or the Mortgagor ehall be liable to St~IA or assigns for any damage or impairnent of the propertq aecuring this mortgage; and this mortgage and the note secured thereby shall, in its eatiretq, becane i~?ediately due and payable at the option of SMA . Ttiis mortgage lien. extends to any building now situate or which maq herer~fter be situate or located on said premises and materials canposing said buildings, whether attached or detached to the real estate herein; and in case of the re~oval of any buildinga nov located on said pres~ises or which may hereafter be located thereon or the material composing same duriug the tero of thia sortgage to aone ~ther prasises, the lien of this mortgage shall reaain and be enferceable againat said buildiag• ~ 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 inetituted,s~p may, at its option, imaediately or there- ' ~ after declare this l~brtgage and the indebtedness aecured hereby due and payable. 13. That in the event the Mortgagor should assig~ the rents of the mortgaged prmi~ea ~ or any part thereof without the consent of SMA , then the entire principal sus •ecured ~ hereby shall, at the option of SMA , become imeediatelq due and payable. 14. That in the event the premises hereby mortgaged, or a~ part thereof. stull be condematd-and taken for public uee under the pover of esinent do~ain, SMA shall ~ have the right to d~and that all dasages awarded for the taking of or da~ages to said pr~siaea shall be paid to SMA, its succesaora or assigns, up to the amount then unpaid on this Mortgage and ~ay be applied upon the pay~ent or payments last payable thereon. ~ 3 b00K ~05 PaCE 16~ ~ y: ; , ~ 5~. - ~ _ . .