HomeMy WebLinkAbout2513 iamediately and vithout notice, may lnstitute proceedings to foreclose this
mortgage and apply for the appointaent of a Receiver, as hereinafter provided.
8. If any of the sums of money herein referred to be not prosptly and fully paid
vithin thirty (30) days next after the satie aeverally becoae due and payable,
or if each and etirery the stipulations, agreasents, conditiona at~d covenanta of
said prosisaory note and this deed~ or eiiher, are not dulq perforsed, complied
with, and abided by, the aggregate aua advanced by SMA to Lhe Mortgagor under
the terms of the promissory note and Lhia 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 g~, as fully and completely as if said aggregate sum of naney
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 ef Florida.
9. Unti2 the default in the perforaance of the covenants and agree~nents of this
Mortgage, the Mortgagor shall be entitled to collect the rents, issues and profits
from the pr~nises hereinbefore described, Dut in case of a default in any of the
terms of this l~fortgage or the filirg of a bill to foreclose 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 and pereonal, and of the rents,
issues, profits, prepaid rentals or security monies, deposits and revenues thereof,
from whatsoever source derived, uith the usual powers and dutiea of Receivers
in such cases;,and such appointment shall be made by such court as a natter of
strict right to SMAits successors, or aesigns, and t~ithout reference to the
adequacy or inadequacy of the value of the property hereby mortgaged, or to the
so2vency or insolvency of the Mortgagor, or Mortgagor's heirs. legal representat-
ives, successors or assigns, and that such rents, prafits, prepaid rentals or
security monies, deposits, incane and revernue 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 contitrued 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 caurt.
10. That in the event of any default in paying the said principal or interest, the
rents, prepaid securities and deposits, revernie ancl 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 pennit to be erected any new buildings on the
premises herein mortgaged or add to or permit to be added to any of the existing
improvesaents thereon without the vrftten consent of SMA, and in the event of any
violation or attempt to violate this stipulation thie 1~lortgage and the indebted-
ness secured hereby shall ie~ediately 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 nov are; to peraiit SMA to enter upon and view said premiaes.
; The buildings now located on premises herein or which maq hereafter be located
j or erected thereon shall not be relocated thereon or removed therefrom, altered
' or re~nodeled without the written consent of SMA or assigne; and, in case of
` breach of this condition, the parties so doing or the Mortgagor shall be liable
~ to SI~IA or assigns for any damage or impairment of the propartq eecuring this
mortgage; and this mortgage and the note secured thereby shall, in its entiretq,
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€ becaoe immediately due and payable at the option of SMA . Zfiis mortgage lien.
extends to any building nov situate or which may hereafter be aituate or located
~ on said premises and materials canposing said buildinge, vhether attached or
€ detached to the real estate herein; and in caee of the removal of any buildings
~ now located on said pre~mises or which may hereaf ter be located thereon or the
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~ material composing same during the term of thia mortgage to some ~ther previses,
~ the lien of this mortgage shall remain and be enforceable against sald bailding~
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- or material wherever same may be moved or relocated.
% 12. If foreclosure proceedings of any inferior ioortgagt or truat deed oz of any lien
` of any kind should be instituted,g~ may, at its option, iamediately or there-
' after declare this Mortgage and the indebtedness aecured hereby due and payable.
~ 13. That in the event the Mortgagor should assign the rents of the sortgaged premises
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or any part thereof without the conaent of SMA , then the entire principal ~ua secured
~ hereby shall, at the option of SMA , becaue i~mediately due and paqable.
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K 14. That in the event the premiaes hereby mortgaged, or at~r part thereof, ahall be
~ condemned and taken for public use under the poi+er of esiaent do~ain, SMA ah~ll
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~ have the right to deeosnd that all damages avarded for the taking of or damages
t to said prsises shall be paid to SMA, its successors or asaigns, up to the
~ amount then unpaid on this lbrtgage and say be applied upor the payosent or
` pa}roents last payable thereon.
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