HomeMy WebLinkAbout0149 income, profits, issues ond revenues are hereby mor~9a9ed os ~f speuf~cally set forth ond described in the granting ond habendum
clouses hereof, ond such receiver iholl hove alt the brood and effect~ve funU~ons and powers in any wise entrvs?ed by o tovrt to 0
~eteiver, ond suth oppoinfinenf sfiall be mode by such co~rl os an admitled equ~ly and a motter of obsolute righf in the Mortgagee,
and withovt ~eference to 1he adequocy or inodequocy of the volue of rhe property mo~tgogad, or to the solvency or insolverxy of
the MoMgagor ond/or the defendant ond such rents, p~oi~ts, income, issues ond revenves sholl be appleed by Ihe receiver atcordi~g
to the liep and/o? equity of fhis mortgage and fhe pract7ce of :uch cou?t, ond such appo~ntment of receiver iholl be without notice
to anr obligor hereunder.
NINTH: The MOrfgagor hereby woives all righfs of homesfead and exemption qronted by the Co~sfilution and lows of
Florida. It:s spetifically agreed thof time +s of !he essrrxe in this conlroct and thot no woive~ by ?he Mortgogee of ony obligation
hereunder or of the obligotion secured hereby shall ot ony time thereafter be held to be o woiver of the terms hereof o? of the
obligotion secured hereby.
TENTH: Upon any sote, tronsfer or conveyance of the prope~ty herein described and tovered by this mortgage to ony
person, fi?m or torporofion, nof p~eviously approved in writing by the hoider of this morfgoge, the Mortgagee or holder shall have
the right to accelerote the maturity of this mortgoge os though it were due and poyable on the day of such transfer and to demond
poyment in full Of the seid mortgoge amovnt or ony unpaid balance thereof, ond to exercise oll the rights a~d remedies herein or
by law ~ese?ved to said Mortgagee the samc as in ony event of default hereunde~, onything in the promissory rate secured
hereby or herein fo fhe tontrary nothwiMsfanding.
gEVENTH: If foretbsure proceedi~gs of any second mo~tgage or setond trust deed or any junior tien of ony kind shouid
be instituted, the Mortgagee may, at its option immediotely or thereofter declore this mortgoge ond the indebtedness secured
hercby due ond poyoble.
TWBFTH: Thot in the event the premises hereby mortgoged, or ony part the~eof, shall be tondemned ond taken for public
use voder the power of eminent domoi~, the Morfgagee shall hove Me right to demand fhof all damages owarded fo? the taking
of or damages fo said premises shali be paid to the Mortgagee, up to the amount then unpoid on this mortgcge and fhe obligation
secured hereby and may be applied upon the payments lost payable under this mortgnge and the obligation secured her~by.
THIRTEENTN: That instollments, payablc ~nder the terms hereof and the nofe setured hereby, not paid when due, shall be
subject, ofter fifteen (15) doys from the due cta?e thereof, to, and it is agreed Mortgogee shall toll,ecf thereon and the~ewith, a
"tate charge" in the amount of fovr per cent (4~} of the instollment due upon each suth delinquent installment, and :uch "late
cherges" ore secured by fhe lien hereof.
fOURTEENTM: Without impairing the obligotions af Mortgagor tontoined in ppragraphs SKOND, THIRD end FOURTH
hereof, ond for applicat+on to the purposes thereof inwfar os the some shall be suf~icient, Mortgagor shall, in oddiYwn to the
mor~thly poymenh of principal and ioterest os stated in fhe originol note (and in the ~ote or notes secured hereby) provided to be
made, pay a monthly sum and anwunt equol to one-Mrelfth (1 f 12) of the estimoted anrwal taxes, assessments ond i~uuronce
premiums upon the real estate security, as the omount thereof is determined from fime to fime by the Mortgagee.
F{FiEENTM: Thot the Mortgagor shall fumish annuotly, at the request of the Mortgagee, finarriol statements in form and
certified i~ a manner so~isfoctory to the Mortgagee.
SlXTEENTFI: This moAgage ctso setures any and all renewa~s and extensions of fhe promissory note referred to herein and
setured hereby, and all instollmenfs thereof, and also ony other notes which hove been or may be given to the Mortgagee by the
Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee which, however, shall not exceed ot any one time
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: the aggregate unpaid principal sum of - - _ _ -
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~ -------TWENTY TFIOUSAND AND NO/100----------------- 20 000. 00
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f it being the specific intention ffiot further advonces moy be made by the Mortgagee ot its option to the Mortgagor, either prior to
~ or aher the due dates of the above refe?red to promiuory note hereby secured; and this mortgage is given for the specific
pu~pose of :ecuring any and all indebtedness by the Mortgagor to the Mortgagee in wfiotever manner the same may be evi-
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~ denced or rcpresented, until this mortgoge is satisfied of record; and all covenonts and agreemtnts tontained in this mortgage
shall be opplicoble to all further ond future advonces made by the Mortgagee to the Mortgagor and all other indebtedness of
~ Mortgagor to the Mortgagee, and any ond all renewals or extensions therrof. -
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' Seventeenth: This Mortgage Deed and the Note it secures shall be construed
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= only under the laws of the State of Florida.
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~ - 3- BQOx 217 PAr,E ~ 47
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