HomeMy WebLinkAbout2564 ` cu«ed by \~ortgagee in coanection with sny suit to eatorce colleciion or to foreclose this mortgage in the event
this mortgage and the note or othes indebtedneas and amouats hereby secured be placed in the henda of sn attorneJ
for collection, aad tor the paymeat of all sueh amounts this mortgage shall stand as security and any such ~um or
sums so paid shatl become a part of the indebtedneas secured hereby.
7. In case \lortgagor shall fail to promptly discharge eny obligation or covennnt a~ pro~ided herein,
~tortgagee shall ha~•e thc option, but no obligation, to }?e~form on behalt of 1lfortgagor. Any amount wh;ch \iort-
gagec may ezpend in performing aucL act or in connection therewith, with iaterest thereon at the rate of x1~ib{9-1/2
per cent ¢~b~ per annum, together with all ezpenses, including reasonahle attorney's fees incurred bp ~tortgagee,
shall be immedi~tely payable by ~lortgagor and shall be secured by this mortgage, and 1liortgagee s6all be subro-
gated to any rights, equities or liens so discharged.
8. That if the principal or interest on the note herein described or any part of the indebtedness secur~d
hereby or interest thereon be not paid when due, or if ~Iortgagor shall fail to pay any ta:es, assessments, chargea,
or impositions as the same become due and pa~•able, or if default be made in the full and prompt performance
of any rnvenant or agreement herein contained, or if any procecdin~s be instituted to abate anv nuisance on the _
~fortgaged Premises or if anp proceedings be instituted which might result to the detriment of the use and
enjoyment of the premises, or if ~tortgagor shall make ao assignment for the benefit of ereditors, or if a re-
cei~er, liquidator or trustee of 1lortgagor or an~ of 111ortgagor's property be appointed, or if \fortgagor is adjudi-
cated a bankrupt or insolvent or any of the propertg of Diortgagor be scquestered, or if :~fortgagor files or
consents to the filing of an~ petition or proceeding under the National Bankruptcy :1ct or similar State or
Federal Statutes, as now or hereafter in effect, 'or if such petition or procceding is filed against \iortgagor and
not dismissed within si:ty (60) daps after such filing, or if Mortg~gor shall admit inability to pay debts as
they become due, or if ~tortgagor be a corporation, if its directors or stockholdcrs shall institute or consent to any
proceedings for the dissolution or liquidation of 111ortfiw~or or fail to do all things necessary to maintain the
eaistence of 111ortgagor, or if any law shall be enacted or decision rendered by any court of last resort imposing
any taz or assessment not now ia effect upon this mortgage, or the note secured herebp, or anp interest of 1lfort-
gagee in the Diortgaged Premises, or rendering inoperative the undertakings of Mortgagor to pay all taaes
arising as a result of this transaction other than taaes on the interest ineome herefrom, or which results in the
deduction from values of lands, for taz purposes, of the amount of any lien hereon, or altering the laws for the
taaing of mortgages or debts secured thereby, then on the happening of any one or more of these ecents, this
con~eyance shall become absolute and the whole indebtednes secured hereby shall iinmediately become due and
payable at the option of ~lfortgagce and this mortgage n~ay thereupon be foreclosed for the whole of said money,
interest and costs, or 111ortgagee may foreclose onlp as to sums past due without injury to this mortgage or the
displacement or impairment of the remainder of the lien thereof, and st s~ch foreclosure sale the propertv
shall be sold subject to all remaining items of indebtedness and the 1lfortgagee may again foreclose in the same
manner as often as there may be any sum past due. -
9. If at any time after default by 1ltortgagor a rereivership may be necessary in the opinion of 1lfortgagee
I to protect the lien hereof, or at the time of or after the institution of sait to collect the indebtedness hereby secured,
~ or to foreclose this mortgsge, liortgagee shall, as an admitted equit~ and as a matter of strict right and regard-
k less of the ~•alue of the propert~, or the sol~ency or insolcency of ~fortgagor or any party bound for the pasment
~ of the indebtedness ha~•e the right to appoint, on ez parte apl>2ication and ~cithout notice to an~one by any
~ proper court having jurisdiction, of a mceiver, vehich recei~er shall ha~•e all of ihe broad and effectice powers
~ and functions in any wise entrusted bf the court to a recei~•er to take charge of, manage, preserve, maintain,
~
~ c~re for and protect the :lfortgaged Premises and to collect rents, issues, proceeds, produce, profit, income and
re~•enues of the 1liortgaged Premises from whatsoever source dcri~•ed; to make all necessary or needful repairs
~ and to cnlticate, operate, dust, prune, fertiliae, lime, drain, irrigate and protect from damagc b~ fire, the timher,
~ fields, pastures, orchards, citrus gro~•es snd all other agriculturnl de~elopments located on the 1lortgaged Premises
and to markct the prod~cts thereof and receire and collect the procceds thereof and such receicership shall, at
the option of ltortg~gee, continae until the foll payment of all sums hereL~ secured, or until tide to the ~fort-
gaged Premises shall have passed on sale under a forec•losure of this mortgage.
Ir 1s Acneeo that granting an}• extension of time of pacment of an~ sum coming due undcr the note aforesaid
or under this mort~age, to any person, or the taking of otlier or additional securit} for the papment tl~ereof,
the r~-ai~er of, or failure to exercise, any right to mature the ~shole debt or any other wai~er bf ~lortgagee shall not
~ in any ~ise affect this mort~age or the rights of Diortgagee here~~nder, or operatc as a relesse of any liability or
an~ co~•enant or stipulation hcrein contained. The ser•eral rights and remedies in this mortgage contained, pro~ided.
~ dcclared or authorized, shall be construed and deemed as cumulatise and no one or more of them as ezdusi~e of
~ the other or any of the others or of anp rights or reroedies ~hich now or hereafter ma~ be gicen or allowed hr law.
~
~ ~Iortgagor unconditionallf grants to Afortgagee thc right to enter upon and inspect the ~fortgaged Premisrs
~ at ail reasonahle times.
_
The words ";ltortgagor" and "~lortgagee" when ascd herein shall be taken to include the singular and plural
t•. .L _
numi~er and mascuiine, ieminine or neuler gen~ee, as r,;nv esse, and shall incle:3~ the heirs, adminis#ratorc,
caccutors, successors and assigns of the parties hereto. Each and all of the terms and procisions hereof shall es-
~z tcnd to and be a part of any rene~al or extension of this mortgage. In the ecent that there is more t an one
mortnagor, then, at the option of :lfortgagee, any act or action by, on behalf of or a~ainst either mortgagor, shall
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ha~•e the slme effect as though by, on behalf of or against all mortgagors.
This mortgage and the note secnred hereby constitute a Florida contract and shall be construed according
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