HomeMy WebLinkAbout2023 itmediately and without notice, tnay institute proceedings to foreclose this
sortgage and apply for the appointoent of a Receiver. as hereinafter provided.
8. If any of the sums of money herein ref erred to be not prosptly and fully paid
within thirty (30) days next after the aa~e severally become due and payable,
or if eacA and every the stipulat~ona, agreementa, conditions and covenants of
seid promisaory note and this deed, or either. are not dulq perforwed, complied
with, and abided by, the aggregate sum advanced by SMA to the Iiortgagor under
the ter~ns of the promissory note and thia deed then remaining unpaid, less any
consideration received by ghlA for making this loan after deducting the costs of
SMA in making this loan, shall becouie due and payable forthwith or thereafter
~ at the option of gMp,, as fully and cosp2ete2y as if said aggregate sum of money
were originally stipulated Co be paid on such a day, anything in said promissory
note or herein to the contrary notWithstanding. It ie 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 perforaance of the covenants and agree+menta of this
Mortgage, the Mortgagor shall•be entitled to collect the rents,'issues and profits
from the pr~aises hereinbefore described, but in case of a default in any of the
terms of thfs ?brtgage or the filing of a bill to foreclose this or any other
Nortgage encumbering the taithin described property, SMA shall immediately, atxl
without notice and as a matter of strict right~ be entitled to the appointiaent of
a Receiver of the mortgaged property, both real and personal, and of the rente,
issues, profits, prepaid rentals or security uonies, deposits and revenues thereof,
from whatsoever source derived, ~,rith the usual povers and duties of Receivera
in such cases;,and such appointment shall be made by such eaurt as a matter of
strict right to SMAits successors, or sesigns. and vithout reference to the
adequacy or inadequacy of the value of the property hereby mortgaged, or to the
solvency or insolvency of the Nortgagor, or Iiortgagor's heirs, legal repre~entat-
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 Nortgage indebtedness, cost and charges, according to the
order of such court, and such Receiver may be coatit~ued in possession of the said
property until the time of the sale thereof under such Foreclosure and until the
confirmation of su~h 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 said pre~ises
are hereby assigned to the holder of this Nortgage as further security for the
payment of the said indebtedness.
lI. The Mortgagor shall not erect or permit to be erected any new buildinge on the
premises herein mortgaged or add to or permit to be added to any of the existing
improvenents thereon without the ~rritten cansent of SMA. and in the event of any
violation or attempt to violate this stipulation this ?brtgage and the indebted-
ness secured hereby shall immediately become due and collectable at the option of
SMA. T~ keep the above described pr~ises in first class repair and in as good
condition as they now are; to penuit SMA to enter upoa and view said premiaes.
The buildings naw located on premises herein or Which maq hereafter be located
or erected thereon shall not be relocated thereon or r~oved therefrom, altered
or reinodeled without the written consent of SMA or assigns; and, in case of
breach of this conditlon, the parties eo doing or the l~brtgagor shall be liable
to St4P? or assigns for any damage or impairment of the propertq securing this
mortgage; and this mortgage and the note secured theraby shell, in ita entiretq,
becoeee i~ediately due and payable at the option of SMA . Tfi1e mortgage lien.
extends to any building nov situate or which maq hereafter-be eituate or located
on said premises and materials camposing said buildings, whether attaChed or
detached to the real estate herein; and in case af the removal of any buildings
now located on said premises or vhich may ~ier~e. fter be located thereon or the
material composing same during the ter0 of this aortgagt to eome ~ther prmiaea,
the lien of this martgage shall raaain and be enforceable against 8aid building~
or material Wherever same may be moved or relocated.
12. If foreclosure proceedings of any inferior mortgage or trust deed or of any lien
of any kind should be instituted,g~p may, at its option, i~ediatelq or therr
after declare this Pbrtgage and the indebtedness secured hereby due and paqable.
13. That in the event the liortgagor should assign the rents of the mortgagcd prmniaes
or any part thereof Without the consent of SMA , then the entire principal sua secured
hereby shall, at the option of SMA , becowe iao~ediately due and payable.
14. That in the event the premises hereby mortgaged, or aay part thereof, shall be
condemned and taken for public use under the pover of stnent dosain, SMA ahall
have the right to danand that all damages awarded for the taking of or damagea
to said presises shall be paid to SMA, its successors or assigns, up to the
amount then unpaid on this Mortgage and auy be applied upon the paqsecit or
payments last payable thereon.
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