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HomeMy WebLinkAbout0595 im~ediately a~nd 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 suss of money herein referred to be not prosptly and fully paid vithin thirty (30) days next after the same severally become due and payable, or if each aad every the stipulations, agreements, conditiona aad covenarts of said promissory note and this deed, or either, are not dulq perforaed, complied with, aad abided by, the aggregate sum advanced by SMA to the Mortgagor under the terms of the promissory note and this deed then remaining unpaid, leas any consideration received by SMA for making this loan after deducting the costs of SMA in making this loan, shall become due and payable forthvith or thereafter at the option of S~, as fully and coapletely as if said aggregate sum of money were originally stipulated to be paid on such a day, anything in said promissory note or herein to the contrary notwithstandiag. It is the intention of SMA that in no event should the mortgagor pay more than the legal rate of interest allo~r- ed under the Laws of the State of Florida. . 9. Until the default in the performance of the covenants and agreements of this Mortgage, the Mortgagor shall be entitled to collect the rents, issues and profits from the pranises hereinbefor: described, but in case of a default in any of the terms of this Hortgage or the filing of a bill to foreclose this or any other Mortgage encumbering the ~rithin described property, SMA shall im~ediately, 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 rewenues thereof, from vhatsoever source derived, with the usual powers and duties of Receivers in such cases;,and such appointment shall be made by such court as a matter of strict right to SMAits successors, or assigns, and without reference to the adequacy or inadequacy of the value of the property hereby IDortgaged, or to.the solvency or insolvency-of the Mortgagor, or Nortgagor's heirs, legal representat- ives, successors or assigns, and that such rents, profits, prepaid rentals or security monies, deposits, incane and revenue shall be applied by such Receiver -to the payment of the Hortgage indebtedness, cost and charges, according to the order of such court, and such Receiver may be continued in posseseion of the said property until the time of the sale thereof utder such Foreclosure and until the conf irmation of such sale by the court. 10. That in the event of any default in paying the said priacipal or interest, the rents, prepaid securities and deposits, revenue and prof its of the said preoises 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 pre~nises herein mortgaged or add to or perinit to be added to any of the existing r improveinents thereon without the written consent of SMA, and in the event of any ~ violation or attempt to violate this stipu?ation this Mortgage and the indebted- f ness secured hereby shall immediately become due and collectable at the option of i SMA. T~ keep the above described premises in first class Yepair and in as good ~ condition as they now are; to permit SMA to enter upon and view said premises. ~ The buildings no~? located on pr~nises herein or wt?ich may hereafter be located ~ or erected thereon shall not be relocated thereon or removed therefrom, altered ~ or remodeled without the written consent of SMA or assigns; and, in case of ~ breach of this condition, the parties so doing or the Mortgagor shall be liable r to S24A or assigns for any damage or impairment of the property securiag this mortgage; and this mortgage and the note secured thereby shall, in its entiretq, became immediately due and payable at the option of SMA . This mortgage liea. a extends to any building nov situate or which may hereafter be situate or located ~ on said premises and materials canposing said buildings, whether attached or ~ detached to the real estate herein; and in case of the ranoval of any buildings nar located on said premises or which may hereafter be located thereon or the ~ material composing same during the term of this mortgage to some other pre~ises, ~ the lien of this mortgage shall renain and be enforceable against said buildings ~ or material wherever same may be moved or relocated. ~ 12. If foreclosure proceedings of any inferior mortgage or trust deed or of any lien ~ - of any kind should be instituted,gMp may, at its option, i~ediately or these- ~ after declare this Mortgage and the indebtedness secured hereby due and paqable. 13. That in the event the Mortgagor should assign the rents of the mortgaged prenisea ~ or any part thereof Without the consent of SMA , then the entire principa swn secured hereby shall, at the option of SMA , became immediately due and paqable. 14. That in the event the premises hereby mortgaged, or any part thereof, shail be cond enned and taken for ~uhiic use under the power of e~inent domain, SMA shall have the right to de~nand that all damages awarded for the taking of or damages ~ to said premises shall be paid to SMA, its successors or assigns, up to the - ~ amount then unpaid on this Mortgage and may be applied upon the payment or r~ payments last payable thereon. ~ ' ~ ~ ~ . ~ 3 BOQK215 Prff 5~c - ~ ~ ~ , ~ - Y-~ ~ y L s "E' ,r-~' q~ s~ 5---,.s.." "~5 s - ~~~°.,~'e."r ~.r~.-.~~.s"~.,_~.. ~ e..~ x._ , . n~>? ~"'~~~~'~.`i~'.~e