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HomeMy WebLinkAbout4757 ie~ediately and without notice, may institute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as hereinafter provided. 8. If any of the sume of ~noney herein ref erred to be not promptly and fully paid within thirty (30) days next after the same severally become due and payab2e, or if each and every the stipulatione, agreements, conditions artid covenants of said promissory note and this deed, or either, are not duly performed, complied with, and abided by, the aggregate sum advanced by SMA to the riortgagor under the terms of the promissory note and thla deed then remaining unpaid, less any consideration received by SIyA for making this loan afier deducting the costs of SMA in making this loan, shall become due and payable forthvith or thereafter at the option of g~p, as fully and completely as if said aggregate sum of money were originally stipulated to be paid on such a day, anything in said promissory note or here3n 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 of Florida. - 9. Until the default in the performance of the covenants and aqreements of this Mortgage, the Mortgagor shall be entitled to collect the rents, issues and profits from the premises hereinbefor~ 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 aithia descrfbed 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 personal, and of the rents, issues, profits, prepaid rentals or security monies, deposits and revenues thereof, from whatsoever source derived, with the usual powers and duties of Receivers in such cases;,and such appointment shall be made by such court as a cnatter of strict right to SMAits successors, or assigns, and without referenee to the adequacy or inadequacy of the va2ue of the property hereby mortgaged, or to the solvency or insolvency of the Mortgagor, or Mortgagor's heirs, legal representat- ives, successors or assigns, and that such rents, profits, prepaid rentals or security monies, deposits, income and revenue 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 continued in possession of the said property until the time of the sale thereof under such Foreclosure aAd until the confirmation of such sale by the court. 20. That in the event of any default in paying the said principal or interest, the rents, prepaid securities and deposits, revenue and prof its 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 permit to be erected any new buildings on the premises herein mortgaged or add to or permii to be added to any of the ex isting improvesnents thereon without the written consent of SMA, and in the event of any violation or attelnpt to violate this stipu~ation this Mortgage and the indebted- ness secured hereby shall ic~rmediately become due and collectable at the option of S:1A. T~ keep the above described pr ~nises in first class repair and in as good . condition as they now are; to permit SMA to enter upon and view said pre~mises. The buildings now located on premises herein or which may hereafter be located or erec[ed thereon shall not be relocated thereon or r~oved therefrom, altered or re~nodeled uithout the written consent of SMA or assigns; and, in case of breach of [his condition, the parties so doing or the Mortgagor shall be liable to S:f1A or assigns for any damage or impairment of the property securing this mortgage; and this mortgage and the note secured thereby shall, in its entirety, - became immediately due and payable at the option of SMA . This mortgage lien extends to any building now sftuate or which may hereafter be situate or located on said premises and materials c mnposing said buildings, whether attached or ~ detached to the real estate herein; and in case of the removal of any buil~iings ' now located on said premises or which may hereafter be located thereon or the ; material composing same during the term of [his mortgage to some ~ther pre~ises, the lien of this mor[gage shall r~nain and be enforceable against said buildings or material wherever same may be moved or relocated. i2. If foreclosure proceedings of any inferior mortgage or trust deed or of any lien of any kind should be instituted,gryA may, at its option, i~ediately or there- after declare this Mortgage and the indebtedness secured hereby due and payable. 13. That in the event the Mortgagor should assign the rents of the mortgaged pr ~nises or any part thereof without the consent of SMA , rhen the entire principal sum secured hereby shall, at the option of SMA , become immediatply due and payable. 14. That in the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public use under Lhe power of eminent domain, gMA shall have the right to demand that all damages awarded for che taking of or damagea to said pre~ises shall be paid to SMA, its successors or assigns, up to the ~ amount then unpaid on this Hortgage and may be applied upon the payment or ' payments last payable thereon. 3 3:?kr~U~7 ~~~0 . 1 _ . _ - ~ .