HomeMy WebLinkAbout3367 cur~ed bp \Iortgagee in connection wu.h aap suit to 'eriforce collection or to toreclose this mortgage in the e~•ent
this niortgsge and the note or other indebtcdness and amounts hereby secured be placed in the haads of an attorncy
for collection, and for the pa~ u~c~t of all such aa~ounts this mortgage shall stand as securitp and any such sum or
sums so paid shall becon~e a part of the indebtedness se~•ured hereby.
In case ~fortgagor shall fail to promptlp discharge any obligation or co~enant as provided herein,
liortgagee shaU ha~•e tLe oE~tion, hut no ol~lioation, to perfarm on behalf of \fortgagor. Any amount v~hich ~Iort-
gagee ma ezpend in performing such act or in connection therevrith, with interest thereon at the rate of ~t nine
per cent ~$J'o) per annum, together v~ith all expenses, including reasonal~le attorne~'s fees incurred br Vortga~;ee,
shall 1~e immediatelp papable b}~ ~iortgagor and shall bc secured bc this mortgnge, and \iortgagee siialt t>e subro-
~ated to any rights, equities or liens so discharged. '
8. That it the principal or interest on the note he~ein descrihecl or an~• ~~sri of tl~e indebtedness secur:d
hereb~ or interest thereon be not paid when due, or if ~tortgagor shal! fail to pa~ any ta:es, r?ssessments, charges,
or impositions as thc same become due and ps~•able, or if default be made in the fuU and prompt pcrformsnce
af any covenant or agreement hercin contnined, or if an~ procecdin~s be instituted to nbate anp nuisance on the
~~ortgaged Premises or if an~ proceedings Le instituted ~shich might result to the detriment of the use and
enjo~ment of the premises, or if ~fort~agor shall ma~e an assignment for the benefit of creditors, or if e re-
cei~•er, liquidator or trustee of \iortgagor or an~ of ~fortRagor's propert~ be appointed, o~ if ~fort~a~or is adjudi-
cated a hankrupt or insol~•ent or an~ of the propert~ of ~forigagor be seqnestered, or if ~tortgagor files ur
conse~ts to the filing of an~ petition or proceeding under the National Rankraptc~ Act or similar ~tnte or
Federal Stat~tes, as now or herenfter in effect, or if sueh petition or proceeding is filed against '11art~aRor and
not dismissed ~cithin sixt~ (60) dafs after such filing, or if ~lortgagor shall admit in3bility to pav debts as
ther become due, or if 3iortgagor be a corporation, if its directors or stockholders shall institute or consent to any
proceedings for the dissolution or liqvidation of ~~ortfia~or or fail to do all things neccssar~ to maintain the
eaistence of liortgagor, or if any law shall be enacted or decision rendered by any court of last resort imposing
anp ta: ar assessment not now in effect upon this mortg:~ge, or tUe iiote sccured herebp, or An~ interest of !11ort-
gagee in the ~fortgaged Ptemises, or tenderinR inopervti~e the nndertakings of Aiortgagor to pap al! taxee
arising as a result of this transaction other than ta~es on the interest income herefrom, or v~hich results in the
deduction from ~alues of lands, for taa purposes, of the amount of anp lien hereon, or altering the lav~s for the
taaing of mortgages or debts secured therebf, then on the IiappeninR of ans one or more oE #hese esents, this
con~•efanee shall become absolute and the whole indebtednes secured herebv shall irnrnediatelv become due and
pa~~able at the option of ~[ortgagce and this mortgage may thereupon be foreclosed for the tishole of said money,
interest and costs, or \fortgaa e ma}~ foreelose onlr ss to sums past due without injury to this mortgage or the
displacemert or impairment of ihe remainder of the lien thereof, nnd at such foreclosure sale the property
shall be sold subject to al] remaining items of indcbtedness and the ~lortgagee may again foreclose in the same
manner as often as there may be any sum past due.
9. If at any time after defnult bp ~fortgagor a rec•ci~•eTShip may be necesssry in the opinion of \tortgagee
to protect the lien hcreof, or at the time of or after the institution of suit to collect the indebtedness hereby secured,
or to foreclose this mortgage, ~~ortgagee shall, as sn admitted equit~ and as a matter of strict right and regard-
less•of the ~•alue of the propertc, or the sol~encp or insoi~enr~ of ~fortgagor or an~ party bound for the patment
of the indcbtedness ha~•e the right to appoint, on ea parte ap~~lication and rrithout notice to an~one bc an}•
propcr court haring jurisdiction, of a receiver, which recci~-er shall ha~•e all of the broad and effecti~e powers
and fe~nctions in an~ wise entrusted br the court to a recei~-er to take charge of, manage, preser~e, maintain,
care for and protect the \Iortg~ged Premises and to collect rents, issnes, proceeds, produce, profit, income and
re~-enues of the ~Iortgaged Premises from ~hatsoerer source deri~•ed; to make all necessar~ or needful repairs
and ta c~ilti~atc, operate, dust, prune, fertiliae, lime, drain, irrigate and protect from dama;c b~ fire, the timher,
fields, pastures, orchards, citrus gro~es and all other agricultural decelopments located on the ~fortgaged Premises
and to market the products t}~ereof and recei~•e nnd collect the proceeds thereof and such recei~-ership shsll, at
the option of ~Iortgagee, continuc until the full pn~•~nrnt of ~II sums hercl~J• secared, or until tide to the :1lort-
gaged Premiscs shall La~•e p~ssed on saie under a forec•tosure of this mortgage.
t
, IT IS AGRFED t113t nrsntir.o anr eatrnsion of time of psr~nent nf ant sum cowing due under tLe note aforesaid
or under ihis mort~age, to an~ person, or the taking of Ml~f•r or additiun:~l s~•curit~• for the }~a~ment tLereof,
the K-ai~•er of, or failure tu ex<<reise, an~• right to mature the ~cLo1e debt or anc other wai~•er bc Jlortgagee shall not
in an}~ ~cise affect this ~nort;;:ige or the rights of Jfortgagee hereunder, or operate ns a release of anc liaUilit~ or
:u~t- co~-enant or stipulati~~n hrrein c~ontaincd. The se~eral ri~hts and remedies in this mort~nge containcd, pro~•ided.
d~~clared or authotized, shall Le construed and dcemed as cumulative and no one or more of them as esciusi~•e of
the other or an~• of the others or of an~ rights or rcmedies which no~c or hereaftcr ma~ be gicen or a1lo~ced br la~~•.
~fortgagor tmconditionailv grants to \Iortgagee thc• ri~ht to enter upon and inspect the llort~aged Premisrs
st alI reasonable times.
The K'ords "lfort~a~;or" and "~fortgagee" when us°d herein shall he taken to include the sin~ular and plural
nurnber and rvas~uline, feminine or neuter gender, as ma~ fit the case, and shall inclucle the heirs, administrators,
cxecutors, successors and assigns of the parties hereto. Each and all of the terms and procisions hereof shall ex-
tend to and be a paxt of an~ renewal or e~tension of this mortgage. In the ecent that there is more t6an one
mortnagor, thcn, at the option of ~fortgagee, any act or action by, on bchalf of or a~ainst either mortgagor, shali
}?a~-e tFe same effect as though b~, on behalf of or against a11 mortgagors.
This morfqa~e and the note secured hereby constitutc n Florid~ contract and shall be construed according
B~K 209 ~ 3f~
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