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HomeMy WebLinkAbout2520 immediately attd without notice, may instltute proceedings to foreclose this scrtgage aM apply for the appointsent 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 sase severally become due and payable, or if each and cwery the stipulationa, agreeaents, conditions and covenants of said promiasory note and this deed, or either, are not dulq perforaed, complied with, and abided by, the aggregate sum advanced by SMA to the Mortgagor under the ter~as of the promissory note and this deed then remaining unpaid, Iess any consideration received by SMA for making this loar af ter deductiag the coats of SMA in making this loan, shall becose due and payable forthvith or thereafter at the option of S~, as fully and coapletely as if said aggregate au~ of awney were originally stipulated to be paid on such a day, anything in said promissory note or herein to the contrary notvithstandi~g. It is the incention 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 agreements 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 Mortgage or the filing of a bill to foreclose this or any other Mortgage encumbering the ~rithin described property, SMA shall immediately, and vithout 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 iawaies. deposits and revenues thereof, from vhatsoever source derived, With the uaual povers and dutiea of Receivers in auch cases;,and such appointment shall be made by such court as a matter of strict right to SMAits succesaors, or assigns, and vithout referenee to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency or insolvency of the Mortgagor, or l~fortgagor's heirs, legal representat- 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 paymtnt of the Mortgage indebtedness, cost and charges, according to the ordez 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 acd 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 Saia pr~ises are hereby assigned to the ho2der of thfs Mortgage as further security for the payment of the said indebtedness. 11. The Mortgagor shall not erect or permit to be erected any new buildiags on the pr ~nises herein mortgaged or add to or per~nit to be added to any of the exiating improv~nents thereon without the written consent of SMA, and in the event of any violation or atte:upt to violate this stipulation thie Nurtgage and the indebted- ness secured hereby shall ia~ediately become due and colZectable at the option of SMA. T~ keep the above described pr~~ses in first class repair and in as good condition as they nov are; to permit SMA to enter upon and viev said premiaes. i The buildings naw located on premises herein or which maq hereafter be located or erected thereon shall not be relocated thereoa or removed therefrom, altered or reaodeled Without the ~rritten consent of SMA or assigns; and, in case af breach of this condition, the parties so doiag or the Pbrtgagor shall be ~iable ' to St~iA or assigns for any damage or impairnent of the property aecuring this ~ j ~ortgage; and this moztgage and the note secured thereby shall, in its entiretq, ~ become immediately due a~ payable at the option of SMA .~is mortgage lien ~ extends to any building noW situate or wt~ich may hereafter be aituate or located ! on said premises and materials composing said buildings, vh@ther attached or f ~ detached to the real estate herein; and in case of the removal of any buildinga ~ now located on said pre~ises or which maq hereafter be located thereon or the ' material composing same during the term of this mortgage to some ~ther presises, ~ ~ the lien of this mortgage shall raaain and be enforceable against eaid buildinga I 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~ediately or therr after declare this I~lortgage and the indehtedness aecured hereby due atd payable. 13. That in the event the Nortgagor should assign the rents of the sortgaged premises or any part thereof without the consent of SMA , then the entire principal sua secured hereby shall, at the option of SMA , became im~ediatelq due and payable. 14. That in the event the premises hereby mortgaged, or auy part thereof~ ahall be cond~ned and taken for public use under the power of eoinent dosain, SMA shall have the right to demand that all damages avarded for the taking of or damagea to said prsiaes shall be paid to SMA, its successors or aaaigna, up to the ~ amount then unpaid on this Hortgage and may be applied upon the paysent or ~ pa}rments last payable thereon. ' 3 U R BODr,~~ P~IGf~~~ - , - _ - : v : - ~ . ~ , ~ ~ ~,~"m~