HomeMy WebLinkAbout2119 i~come, p~ofits, issues and revenues ore herebr mort9oged os if speciFically set fo?th ond described in the 9rontinp ond hobendum
clouses hereof, ond such receiver sholl hove oll the brood and e~feclive funttions ond powen in any wise entrus~ed by a tourt fo 0
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reteive~, ond suth appointme~t sholl be made by suth tourt as an admitted equity ond a matter of obsolute riyhf in fhe Mortqo9ee,
and without reference to the odequoty or inadequacy of the volue of tha property mort~o~ed, or to the solvency or insolvency oF
the Mortgogor and/o~ the defendant and such rents, profits, income, issues ood revenues shall be opplied by the receiver octordiny
to the lien and%or equity of this mort~oge and fhe practice of such court, and such appointment of receiver shall be without notice
to any obl~go~ hereunder.
NINTH: The Mo?tgagor hereby waives oll rights of homesteod and exemption g~onted by the Constitutio~ and laws of
Florida. It is specifically agreed thot time is of the essence in this contrott and thot no waiver by the Mortgagee of ony obligation
hereunder or of the obligotion secured hereby shall ot any time thereafter be held to be o waiver of Me te~ms hereof or of the
obligotion secured he~eby.
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TENTH: Upon any sale, transfe~ or conveyonce of the propertr herein described and cove~ed by this mortgage to onr
person, Rrm or corporotion, ~ot previously approved in writing by the holder of this mortgege, the Mortgagee or holder shall hmre
the right to accele~ote the moturity of this mo~tgoge as though it we?e due ond payoble on the day of svch transfer ond to demond
payment in full of the said mo~tgage amount or any unpaid bolance thereof, and ro exercise oll the rights and remedies he?ein or
by low reserved to said Mortgagee Me same as in any event of defeuit hereunder, aoything in the promissor~r note secured
hereby o? herein fo fhe confrory ~ofhwithstanding.
flEVENTH: If forecbsure proceedings of any second mortgage o~ second trust deed or any junior lien of any kind should
be instituted, the Mo?tgagee moy, at its option immediotely or thereafter decla~e this mortgage end Me indcbtedness secured
hereby due and payable.
TWRFTH: That in the event the premises hereby mortgaged, or any pa?t thereof, shall be condemned and taken for public
use under the power of eminent domain, the Mortgogee sholl hove the right to demond Mat all domages owarded for the taking
of or damages to said premises shal) be paid to Ma Mortgagee, up to the amount then unpaid on this mortgoge and the obligation
seeured hereby and mar be applied upon the payments last poyable under this mortgage and the obligotion secured hereby. f
THIRTEENTH: Thot installmenh, payable under the tem~s hereof and the note secured hereby, not paid when due, shall be
subject, after fifteen (15) days from the due date thereof, to, ond it is agreed Mortgagee shall collect thereon and therewith, a
"late charge" in the amount of four per ccnt (4~) of the i~stallment due upon each wch delinquenf instollment, and wch "lote
chargei' are secured by the lien hereof.
FOURTEENTH: Without impairing the obligations of Mortgagor contained in parogrophs SKOND, THIRD ond FOURTH
hcveof, and for applicatron to the purposcs thereof iruofar as the same sholl be sufficient, Mortgagor shall, in addition to the
monthly payments of principal and interest as stated in the origina) note (and in the note or notes secured hereby) provided to be
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made, poy a monthlr wm and amount equal to one-twelfth (1/12) of the estimoted amual taxes, assessments and iruurance
premiums upon the real estate security, as the amount thercof is determined from time b time by the Mortgagee.
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i FlFiEENTH: That the Mortgagor shall furnish amually, at the request of the Mortgagee, Anon:iol statements in form and
E ceNified in o manner satisfodory to the Mortgagee.
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~ SIXTEENTH: This mortgage also secures any and all renewals and extensiau of fhe promissory note referred to herein ond
secured hereby, and all installments thereof, and also any other notes which have bee~ or may be given to the Mortgagee by the
Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee which, however, sholl not exceed at anr one time
the oggregate unpaid principal sum of ;
--------------TWENTY-FIVE THOUSAND AND NO/100------- 25, 000.00
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it being the specifx intention that further advances may be made by fhe Mortgagee at its option to the Mortgagor, either prior to
or aNer the due dates of the above referred to promissory nofe hereby secured; and this mortgage is given for the specitit ~
purpose of securing any and all indebtedness by the Mortgagor to fhe Mortgagee in whotever manner tfie same moy be cvi-
denced or represtnted, until this mortgage is sotisfied of record; ond all wvenanh ond agreements contoined in this mo?tgage ~
shall be applicoble to all further ond future advances made by the Mortgagee to fhe Mortgagor ond all other indebtedness of
Mortgagor to the Mortgagee, ond any and all renewals or extensions thereof. ~
Seventeenth: This Mortgage is subject to all the terms of a Construction Loan ~
A greement, of even date, the same as if said agreement was set out herein in full.
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