HomeMy WebLinkAbout0377 i~?ediately and vithout notice, may institute proceedings to forecloae this
mortgage acd apply for the appointvent of a Receiver, as hereinafter provided.
8. If any of the suss of money herein referred to be not prouptly and fully paid
within thirty (30) days next after the same severally become due at~d payable.
or if each and every the stipulations, agreements, conditione and covenante of
said pro~issory note and this deed, or either, are not duly perforsed, complied
with, and abided by, the aggregate sum advanced by SMA to the Nortgagor under
the tenos of the promissory note and thie deed then remaining unpaid, leas any
consideration received by SMA for makirg this loan after deducting the costs of
SMA in making this loan, shall become due and payable forthvith or thereafter
at the option of g~p, as fully and completely 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 the 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 agree~enis of this
Mortgage, the Mortgagor shall be entitled to collect the rents, issues and profits ,
from the pranises hereinbefore described, but in case of a default in any of the
terms of this Hortgage or the filing of a bill to foreclose this or any other
Hortgage 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 mortgaged property, both real and peraonal, and of, the rents,
issues, profits, prepaid rentals or security monies, deposits and revenues thereof.
from whatsoever source derived, vith 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 SMAits 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 repreaentat-
ives, successors or assigns, and that such rents, profits, prepaid rentals or
security monies, deposits, incane 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 possession 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 paying the said principal or interest, the
rents, prepaid securities and deposits, revenue and profits of the said pre~ises
are hereby assigned to the holder of this Mortgage as further security for the
j payment of the said indebtedness.
E 11. The Mortgagor shall not erect or permit to be erected any new buildings on the
~ presnises herein mortgaged or add to or permit to be added to any of the existing
improvements thereon vithout the written consent of SMA, and in the event of any
violation or atte~npt to violate this stipulation this *4ortgage and the indebted-
ness secured hereby shall i~ediately hecome due and collectable at the option of
~ S"~.P.. T~ keeg the above described premises in first class repair and in as good
condition as tt-~zy n~s.r are; to permit SMA to enter upoa and vieW said pre~ises.
The buildings now located on premises herein or which may hereafter be located
or erected thereon shall not be relocated thereon or re~oved therefrom, altered
or r enodeled 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~IA or assigns for any damage or impairment of the property securing this
mortgage; and this mortgage and the note secured thereby ehall, in its entirety,
becane i~ediately due and payable at the option of SMA . lhis mortgage lien.
extends to any building nour situate or vhich may hereafter be situate ar located
on said premises and materials caaposing said buildings, ~rhether attached or
detached to the real estate herein; and in case of the rmroval of any buildings
nos~ located on said pre~ises or which may hereafter be locatetl thereon or the
material camposing same during the term of this mortgage to aome ~ther premisu ,
the lien of this mortgage shall renain and be enforceable against ~aid buildinga
~ or material vherever same may be moved or relocated.
12. If foreclosure proceedings of any inferior mortgage or trust deed or of any lien
~ of any icind should be instituted,g~ may, at its option, immediately or therr
after declare this Mortgage and the indebtedness aecured hereby due and paqable.
~ 13. That in the event the Hortgagor should assign the Tents of the mortgaged prmiises
or any part thereof without the consent of SMA , then the entire principal sum sECUred
hereby shall, at the option of SMA , become immediatelq due and.paqable.
14. That in the event the ptemises hereby mortgaged, or anq part thereof~ shall be
condemeed and taken for public uee under the power of eminent dosain, SMA st~all
, have the right to de~and that ail damages awarded for the taking of or damages
~ to said prm ises shall be paid to SMA, its successors or assigna. up to the
amount then unpaid on this Mortgage and may be applied upon the paysent or
payieents last payable thereon.
BUOtc ~:uU PAGf J~
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