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i~ediately and without notice, may instltute proceedings to foreclose this
mortgage aad apply for the appointsent of a Receiver, as hereinafter provided.
8. If any of the euse of money herein referred to be not prosptly and fully paid
vithin thirty (30) days next after the saae aeverally become due and payable.
or if each and every the stipulations, agreesenta, conditions and covenants of
said promiasory note and this deed, or either, are not dulq perforsed, complied •
with, and abided by, the aggregate auo advanced by SMA to the Mortgagor under
the terms of the promissory note and this 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 beco~e due and payable fortMrith or thereafter
at the option of SMp, as fully and cospletely as if said aggregate sum of money
vere originally stipulated to be paid on such a day, anything in said promissory
note or herein to the contrary notwithstanding. It is the intention of SMP? that
in no event should the mortgagor pay nare 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 agreements of this
Hortgage,. the Mortgagor shall be entitled to collect the rents, issues and profits
from the preaises hereinbefore described, but in case of a default in any of the
terms of this Pbrtgage 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 mortgaged property, both real an~ personal, and of the rents,
issues, profits, prepaid rentals or security monies, depoaits and reM1renues thereof,
from whatsoever 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 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 Mortgagor's heirs, legal representat-
ives, successors or assigns, and that such rents, profits, prepaid rentals or '
security monies, deposits, income and revenue shall be applied by such Receiver '
to the payment of the Hortgage indebtedness, cost atd charges, according to the
order of such court, and such Receiver may be contitrued in possession 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 interest, the
rents, prepaid securities and deposits, revern~e and profits of the aaid prenises
are hereby assigned to the holder af this Mortgage as further security for the -
payment of the said indebtedness. ~
11. The Mortgagor shall not erect or permit to be erected any nev buildings on the _
premises herein mortgaged or add to or permit to be added to any of the existing
4 improvanents thereon without the written consent of SMA, and in the event of any
violation or attempt to violate this stipulation this ibrtgage and the indebted-
~ ness secured hereby shall iu~ediately become due and collectable at the option of
~ SMA. T~ keep the above described presnises in first class repair and in as good
condition as they now are; to permit SMA to enter upon and view said premiees.
The buildings now located on premises herein or which may hereafter be located
or erected thereon shall not be relocated thereon or removed therefrom, altered
or resaodeled without the written consent of SMA or aasigns; and, in case of
breach of this condition, the parties so doing or the Mortgagor ehall be liable
to StrlA or assigns for any damage or impairoeAt of the property securing this
mortgage; and this mortgage and the note secured thereby ahall, in its entirety, f
becane i~ediately due and payable at the option of SMA . 1t~is mortgage lien-
extends to any building nov situate or which may hereafter be situate or located
on said premises and materials camposing said buildings~ whether attached or
detached to the real estate herein; and in case of the removal of any buildings
now located on said premises or which may hereafter be located thereon or the
material composing same during the te~cm of this mortgage to aome ~ther prmisea,
the lien of this mortgage shall rgsain and be enforceable against said building•
• or material wherever same may be moved or relocated.
~ 12. If foreclosure proceedings of any inferior mortgage or ttust deed or of any lien
of any kind should be instituted,g~ nay. at its option, i~ediately or there-
~ after declare this Mortgage and the indebtedness aecured hereby due and paqable.
~ 13. That in the event the Mortgagor ehould aasign the rents of the mortgaged prmises'
~ or any part thereof vithout the consent of SMA , then the entire principal sum secur~d
~ hereby shall. at the option of SMA . becooie im~ediatelq due and paqable.
14. That in the event the premises hereby mortgaged, or.atiq part thereof. shall be
condemned and taken for public use under the po~rer of sinent dosain, SMA shall
have the right to demand that all damages avarded for the taking of or damages.
- to said prmiaes shall be paid ta SMA, its ~uccessors or assigns, up to the
amount then unpaid on thia Mortgage and say be applied upon the paqssnt or
~ payments last payable thereon.
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3 gp~ K 20S ~,~~E 1995
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