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Home My WebLink About2960 ~ntome, profts, issues and reven~es a~e hereby mortgaged os if specifically se1 fo~th ond destribed in the g?ar.ling ond hobendum clouses hereof, and such receiver sholl hove oll the broad and effect~ve funct~ons and powers in ony wise entrusted by o court ~o a rece~ver, ond svch appointment sholl be mode by such court as an admitted equity and o motter of absolvte right in the Mortgagee, and wi?hout reference to the adequacy or inodequacy of the volue of the property mortgoged, or to the solvency o~ insolvency of the Mortgagor e~d/or the defendant and such rents, proRts, income, ~ssues ond revenues shall be applied by the rete~ver actording ro the iie~ and%or equity of th~s mortgoge ond the p~actice of such court, ond such oppointme~t of receiver sholl be without notice fp ony obligo? hereunder. NINTH: The Mortgagor hereby waives oll rights of homestead and exemption granted by the Constitution ond lows of Florida. It is specificolly agreed thot time is of the essence in this contract and that no waive~ by the Mo?tgogee of ony obligation hereunder or of the obligot~on secured hereby sholl ot ony fime thereaffer be held to be o wo~ver of the terms hereof or of ?he obligotion secured hereby. TENTN: Upo~ any sale, tronsfer or conveyonce of the property herein described and tovered by this mortgage to any pe~son, firm or corporofion, not previously app~oved i~ writing by fhe holder of this mortgage, the Mortgagee or holder shall hove the right to accelerote the maturity of this mortgage os though if were due and payable on the day of suth transfer ond to dema~d payment in full of the said mortgage amount or ony unpaid bolance thereof, and to ezercise all the rights ond remedies herein or by law reserved to said Mortgagee the same os in onr event of defautt hereunder, anything in the promissory note secured hereby or he~ein to the tontrary nothwithstanding. ELEVENTH: If forecbsure proceedings of any second mortgage or second trust deed or any junio~ lien of any kind should be instituted, the Mortgagee may, at its option immediotely or thereafter declare this mortgage and the indebtedness secured hereby due and payable. TWRFTM: Thaf in the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public use ~nder the power of eminent domain, the Mortgagee shall hove the right to demand that all domages awarded for Ihe taking • of or damages to said premises shall be paid to the Mortgagee, up to the amount then unpaid on this morfgage and the obligotio~ secured hereby and may be applied upon the poyments tast parable u~der this mortgoge and the obligation secu~ed hereby. THIRTEENTH: That instollments, poyable unde~ the terms hereof and the note secured hereby, not poid when due, shall be subjec?, after fifteen (15) days from the due date thereof, to, opd it is agreed Mortgagee shall collect thereon and therewith, a "late chorge" in the amount of four per cent (4~) of the installment due upon eath such delinquent installment, and such "late chorges" are secured by the lien hereof. FOURTEENTH: Without impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH hereof, ond for application to the purposes thereof insofar as the same shall be suf~icient, Mortgagor shall, in addition to the mor.thly payments of principal and interest as stated in the original note (and in the note or notes setured hereby) provided to be made, poy a monthly sum and amount equol to one-twelfth (1 12) of the estimated onnual taxes, ossessments and insuronce premiums upon the real estate security, os the amount thereof is determined from time to time by the Mortgagee. Y i . ~ FIFTEENTH: That the Mortgagor shalt furnish annuolly, af the request of the Morfgagee, finan,ial statements in form and ~6 certified in a manner satisfactory to the Mortgogee. ! ~ ~ SIXTEENTH: This mortgage also setures any and all renewals and extensions of the promissory note referred to herein ond secured hereby, and all installments thereof, and also any other notes which have been or moy be given to the Mortgagee by the Mortgogor, and any other indebtedness of fhe Mortgagor fo the Mortgagee which, however, shall not exteed af any one fime the aggregate unpaid printipal sum of -----------w------------------------------------------------- ---------=--------TWENTY-FIVE THOUSAND AND NO/100------------p~~a~s(;25~000.00 ~ it being the spetific intenfion that further advances may be made by ihe Mortgagee ot its opfion to the Mortgagor, eifher prior to or after the due dates of the above referred to promissory note herebr secured; and this mortgage is given for the specific purpose of sec~ring ony and all indebtedness by the Mortgagor to ihe Morfgagee in whatever manner the same moy be evi- denced or represented, untit this mortgage is satisfied of retord; and all covenants ond agreements contained in this mortgage shall be applitable to all further and future advances made by the Mortgagee to ihe Mortgagor ond oll other indebtedness of ~ Mortgogor to the Mortgagee, and any and all renewals or ex?ensions thereof. ~ ~ SEVENTEENTH: This mortgage is subject to all the terms of a construction ~ ~ loan agreement, of even date, the same as if said agreement was set out herein in fixU. ~ ~ ~ ~ ~ ~ ~ ~ r ~ 3___ gooK 205 PA~~ 2959 ~ ~ _ ~ - : - - ~