HomeMy WebLinkAbout3372 curred bp \lortgagee in connection ~ith any suit to enforce coltection or to foreclose this mortgage in the event
this mortgage aad the aote or other indebtedncs~ end emounts h~~eby secured bt ptaced in the hands of an attorncp
for collection, and for the pay~n~ent of all such aa~ounts this mortgage shall stand ns securitf snd any such sum or
sun~s so paid shall became a part oi the indebtednes~ scrured hereby.
7. In case \tortgagor shall fail to promptly discharge aoy obligation or co~•enant as pro~ided herein,
~fortgaqee shall hare tl~e option, l,ut no ol~ligntion, to ~?erform on behalf of \iortgagor. Any awount which \lort-
gaRee may e:pend in perfurming such act ar in connection therewith, with interest the~eon at the rate of ~0~ nine
per cent (~fo) per annum, together rcith all ezpenses, including reasonsble attorne~~'s fees incurred b~~ Jfortgakee, .
shall he immediately payable b~ ~fortgagor and sh~ll be seeured bp this mortgage, and ~lortgagee shall be subro-
Ratrd to any rights, equities or iiens so disc~~ar~ed.
8. That if the principal ar intcrest on the note herein descril~ed or an~ part of the indebtedness secur~d
hereb~ or interest thereon be not paid ~hen due, or if \Iortgagor sl~all fail to ps~• an~• taxes, nssessmcnts, charges,
O~ 1m~OS1~lOI1S 83 thC same neeome QUC ROp ~~ri~ auic~ vi ii ~i.i~iiii'a :..~'~C :R {!t]i and prompt perfo~mance
of any covenant Oi agreement herein contnined, OT If tlDf ~ITOCCf(~IOQS ~~C instituted to A~3tC 8T1V 1fU1SAIICC Ofl t~1C
~fortgaged Premises or if any proceedin~s be instituted which might result to the detriment of the use and
enjo~ment of the premises, or if ~Iort~agor shnlt makc an assignment for the benefit of creditors, or if a re-
cei~•er, liquidator or trustee of \fortgagor or anJ• of \tortgaqor's propert~• be appointed, or if ~fort~ngor is adjudi-
cated a bankrupt or insolcent or an~ of the prol~eTt~ of ~fottgagor be sequestered, or if ~fortgagor files or
consents to the tiling of an}• petition or proceeding under the National Iinnkn:pteti Act or similar Stnte or
l~ederal Statutes, as noK or hercafter in effect, or if such petition or proceeding is filcd a~ainst ~fort~a~or and
not dismissed within siat~ (60) days after sueh filin~, or if \iortgagor shall ndmit inahilit~ to pa~ debts as
the~ become due, or if ~fortgagor be a corporation, if its directors or stockholders si~all institute or consent to anv
proceedinRs for the dissolution or liquidation of 11lortfin~or or fail ta do all things necessar~ to maintsin the
eaistence of 1lfortgagor, or if any law shall be enacted or decision rendered by an~ court of last resort imposing
anp taz or assessment not now in effect upon this mortc~age, or the note secured hereb~, or ant interest of '_ltort-
gngee in the ~tortgaged Premises, or rendering inopervti~e the undertakings of Afortgagor to pay all taaes
arising as a result of this transaction other than tascs on thc interest income herefrom, or ~hich resvlts in the
dedaction from ~alues of lands, for tax purposes, of the amount of anp lien hereon, or altering the lavvs for the
tasing of_ mortgages or debts secured the~eby, then on the happening of any one or more of these e~ents, this
con~•efance shall become absolute snd the Rhole indebtedn~s secured herebv shull itnmediatelt become due and
pa~able at the option of ~fortgagee and this mortgage map thereupon he foreclosed for the ~hole of said mone~,
interest and costs, or liortgagee ma} foreelose onl~ as to sums past due ~ithout injur~ to this mortgage or the
di~placement or impaitment of the remainder of the lien thereof, and at s~~ch foreclosure snle the propert~
shall be sold subject to all remaining iCems of indebtedness and the lfortgagee may again foreclose in the same
manper as often as there mav be an~• sum past due,
9. If at any time after default by \fortgagor a recci~•ership may be necesssrp in the opinion of :liortgagee
to protect the lien hcreof, or at the time of or after the in,titution of suit to colleet the indebtedness herebf secured,
' or to foreclose this mortgage, llortgagee shall, ss an a~lmitted equits and as a matter of strict right and regard-
less of the ralue of the properit•, or the soh~encv or insol~enc~ of \fortgagor or an~ partp bound for the pa~n~ent
of the indchtedncss ha~•e the rigLt to appoint, on ez parte application and without notice to an~•one h~ any
proper court having jurisdiction, of a recei~er, khich rccci~•er sh:?11 ha~•e all of the broad and effecti~e powers
and functions in an~ wise entrasted by the court to a receicer to take charge of, manage, preser~•e, maintain,
care for and protect the ~fortgaged Premises and to collect rents, issues, pTOCeeds, prod~ee, profit, income and
re~-enues of the ~fortgaged Premises from whatsoerer soiirce dcri~ed; to make al[ necessar~ or needful repairs
; and to culti~•ate, operate, dust, ptune, fertiliae, lime, drain, irrigate and protect from damagc b~- firc, the tirnher,
~ fields, pastures, orchards, citrus groces and atl other agricuttoral dccelopments located on the ~fortgaged Premises
and to market the produets thereof and recei~-e and collect t~re praeecds thereof and such rereirership shall, at
° the optiort of llort~agec, centinue untel the fal) pa~rne•n! of all sums hercb~ secured, or until title to the \1~rt-
; gagrd Premises shall hare passed on sale under a forerlosure of this mortgage.
~ IT Is AGREF.U t}13Y ~ranti~:v an~• c~tension of time of p~~•uient of an}• sum coming d~e under tl~e note aforesaid
! or tmder this mort~age, to an~ pcrson, or the taking of otlier or additiunal seci~rit~ for the pactnent tLcrcof,
t the ~cai~-cr o[, or failure to exereise, an~ right to mature the ~chole deUt or an~ other ~ai~•er bf ~iortgagee shall not
in an~• ~•ise affcct this mort~;age or the rights of ~fortgagee hereunder, or operate as a release of any li~hilitr ~r
:ui~ ro~rnant or stipulatinn liercin contained. Tl~e se~•eral rights and remedies in this mortgaqe contained, pro~-ided,
dcctar~~d or autl~orized, siiail be ec~nstrucd nnd deemed as cumulati~•e and no one or more of them as csclusi~-e nf
the other or an~• of the oihers or of any rights or remedies K-hich nok or hereafter ma~ be git•en or allo~~ed hc la«•.
;
~IAitaA~,~OT unconditionallc grants to Jlortgagee thf• ri~ht to enter upon and inspect the ~fortgaged Premisrs
at all reasonable times.
The ~cords "~fort~aror" and "~lortgagee" when us _•d herein shall he takcn to include the sin~ular and plural
num{irr and masculinr, fcminine or neuter gender, as roa~ fit the case, and shall include the heirs, ad~ninistrators,
exe~-~ttors. .~~cce;sors and a~signs of the parties hereto. Each nnd all of the terms and procisions hereof shalt ex-
t~~nd to and he a part of ant- reneKal or eetension of this mortgage. In the erent that there is more !han one
; tnort~agor, then, at the option of ~fortgn;ee, an~ act or action hy, an behalf of or a~ainst cither mott~agor, shall
ha~-c the ~sme effect ~s though b~•, on brhalf oE or against all mortgagors.
This IIt~1T~~8€,•c and the note secured hereby constitute a Florida contract and shall he eonstrued accordin~
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