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HomeMy WebLinkAbout2664 lasediately and vithout notice, ~say institute proceedings to foreclose this sortgage aad apply for the appointsent of a Receiver, as hereinsfter provided. 8. If any of the sues of aioney herein zeferred to be aot proa~ptly and fully psid vithin thirty (30) days next after the same severally become due and payable. or if each aad every the stipulations, agreeoents, conditions ud covenants of said promissory note and this deed, or either, are not dulq perforsed, Co~plied with, and abided by, the aggregate su~ advanced by SMA to the lbrtgagor under the terms of the praoissory note at?d this deed then remaining unpaid, less any consideration received by SMA for making this loan after deducting the costs of SMA in making this loan, shall become due and payable forthwith or t6ereafter at the option of g~, as fully attd conpletely as if said aggregate sus of money were originally stipulated to be paid on 8u~h a day, anything in said promissory note or herein to the contrary notWithstanding. It is the intentioa of SMA that in no event should .the mortgagor pay more than the legal rate of intereet allow- ed under the Laws of the State of Florida. 9. Until the default in the performance of the covenants and agreeaents of this Mortgage, the Mortgagor shall be entitled to collect the rents, issues and profits from the presnises hereinbefore described, but in case of a default in any of the terms of this Martgage or the filing of a bill to foreclose this or any other Mortgage encumbering the vithin described property, SMA shall immediately, and vithout notice and as a matter of strict right, be entitled to the appoiatment of ~ a Receiver of the mortgaged property, both real and personal, and of the rents, issues, profits, prepaid rentals or security monies, deposits and re~renues thereof, - from vhatsoever source derived, with the usual powers at?d duties of Receivers in such cases;,and such appointment shall be made by such ca~rt as a matter o~ strict right to SMA its successors, or assigns, and without reference to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the solvency or insolvency of the Mortgagor, or Hortgagor's heirs, legal tepreseatat- ives, successors or assigns, and that such rents, profits, prepaid rentals or security monies, deposits, incane and revernue shall be applied by such Receiver to the pa}rm~nt 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 and until the confirmation of such sale by the court. 10. That in the event of any default in paying the said priacipal or interest, the rents, prepaid securf tfes and deposits, revenue and prof its of the said prenises are hereby assigned to the holder of this Nortgage 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 pr~nises herein mortgaged or add to or permit to be added to any of the existing ~ improvements thereon without Xhe written consent of SMA,.and in the event of any violation or attempt to vio2ate this stipu~ation this Mortgage and the indebted- ness secured hereby shall iwmediately become due and collectable at the option of ~ SMA. To keep the above described premises in first class repair and in as good condition as they now are; to permit SMA to enter upon and view said premiaes. The buildings naw located on pre~nises herein or vhich may hereafter be located or erected thereon shall not be relocated thereon ur removed therefrom, altered or remodeled without the written consent of SMA or assigns; atid, in case of breach of this condition, the parties so doing or the Mortgagor shall be liable to S?~SA or assigns for any damage or impairment of the property securing this mortgage; and this mortgage and the note secured therebq shall, in ita entiretq, becane i~ediately due and payable at the option of SMA . 11iis mortgage lien- i extends to any building now situate or vhich maq hereafter be situate or located ; on said premises and materials composing said buildings, whether attached or ; detached to the real estate herein; and in case of the r~oval of any buildings noW located on said pr~ises or which may hereafter be located thereon or the ' material composing same during the ters of thia mortgage to some ~ther premises, ~ the lien of this mortgage shall ranain and be enforceable against r~aid buildings ~ or material wherever same may be moved or relocated. 12. If foreclosure proceedings of any inferior mortgage or trus[ deed or of aay lien of any kind should be instituted,g~ may, at its option, i.~ediatelq or therr after declare this Mortgage and the indebtedness secured hereby due aod payable. 13. That in the eveat the Mortgagor should assign the rents of the mortgaged premieea ~ or any part thereof without the consent of SMP,, then the entire principal sus stcured hereby shall, at the option of SMA , becaae 3mmeciiatply due and payable. ; 14. That in the event the premises hereby mortgaged, or su3r part thereof, shall be ~ conde~nned and taken for public use under the power of eminent dorain, SMA shall have the right to demand that all damages avarded for the taking of or dasiages to said pre~iaes shall be paid to SMA, its auccessors or assigns, up to the s a~nount then unpaid on this Mortgage snd may be applied upvn the payn~ent or ? payments last payable thereon. 9 € 5 i t ~ ~ 3 b00K 213 ~"AGt ~~'~O - ° ~ `