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i~ediately and vithout notice. may inetitute proceedings to foreclose this
sortgage and apply for the appointaent of a Receiver, as hereicufter provided.
8. If any of the suss of money herein ref erred to be not prosptly and fully paid
within thirty (30) days next after the same eeverally beco~ae due and payable,
or if each and every the stipulationa, agreesents, conditions and covenants of
said promissory note and this deed, or either, are not dulq perfo~aed, complied
vith, and abided by, the aggregate sun advanced by SMA to the ?brtgagor under
the terms of the promissory note and thie 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 become due and payable forthvith or thereafter
at the option of gMp, as fully and co~pletely as if said aggregate sum of money
were originally stipulated to be paid on such a day, anything in said promissory
note or herein to the contrary notvithstanding. It is the intention of SMA that
in no event should [he mortgagor pay more 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 agreementa of this
Mortgage, the Mortgagor shall be entitled to collect the rents, iasues and profits
from the prmises hereinbefore described, Dut in case of a default in any of the
terms of this lbrtgage or the filing of a bill to forecloae this or any other
Mortgage encumbering the within described property, SMA shall immediately, and
without notice and as a matter of strict right, be entitled to the appointment of
a Receiver of the mortgag~d property, both real and peraonal, and of the rents,
issues, profits, prepaid renta2s or security monies, deposits and revenues thereof,
from vhatsoever source derived, with 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 SMA its successors, or assigns, and without reference 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, income and revernie shall be applied by such Receiver
to the payment of the Mortgage indebtedness, cost and charges, according to the
order of such court, and such Receiver may be continued in possesaion 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 paying the said principal or lnterest, the
rents, prepaid securities and deposits, revenue and profits 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 Mortgagor shall not erect or permit to be erected any new buildings on the
pr ~aises herein mortgaged or add to or permit to be added to any of the existing
! improvements thereon without the written consent of SMA, and in the event of any
; violation or attempt to violate this stipulation this I~brtgage and the indebted-
~ ness secured hereby shall inmiediately become due and collectable at the option of
E St~ T~ keep thQ above descrihed pre~ises in first class repair and in as good _
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candition as they now are; to permft SMA to enter upon aad viei+ said pYesises. _
The buildings now located on pre~aises herein or which may hereafter be located
or erected thereon shall not be relocated thereon or removed therefrom, altered
or remodeled vithout 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 SNIA or assigns for any damage or impairment of the property aecuriag this
mortgage; and this mortgage and the note secured thereby shall, in its entiretq,
become iffi?ediately due and payable at the option of SMA . This mortgage lien-
extends to any building.noW situate or which may hereafter be situate or located
on said premises and materials canposing said buildings, vhether attached or
detached to the real estate herein; and fn case of the rmwval of any buildinga
naw located on said pre~ises or which may hereafter be located thereon or the
material composing same during the term of this mortgage to aome ~ther prmises,
the lien of this mortgage shall renain and be enforceable againet said buildiags
~ or material wherever same may be moved or relocated.
12. If foreclosure proceedinga of any inferior mortgage or trust deed or of anq lien
~ of any kind should be inatituted,g~p may, at its option, i~ediately or therr
after declare this Mortgage and the indebtedness secured hereby due and payable.
13. That in the event the Hortgagor should assign the rents of the mortgaged premi~es
~ or any part thereof without the consent of SMA , then the entire principal sus secured
hereby shall, at the option of SMA , become immediately due and payable.
~ 14. That in the event the premises hereby mortgaged, or anq part thereof. shall be
~ condemned and taken fort public uee under the power of e~inent doaain, SMA stull
~ have the right to d enand that all damages awarded for the taking of or da~ages
to said prmiaes shall be paid to SMA, its succesaora or assigns, up to the
amount then unpaid on this Mortgage and may be applied upon the payrment or
payments last payable thereon.
3 B~~K 206 P~~E 359
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