HomeMy WebLinkAbout0424 income, profits, issues and revenues ore hereby mortgoged as if specifically set fo?th ond destribed in the grenting and hobendum
ctousei hsreof, ond such rece~ver shall hove all the brood ond effective func~ions a~d powers in any wist entrusted by a court to a
receiver, ond such appointment sholl be made by such courf os on admitted equify and a motter of absolute righf in the Mortgogee,
ond without referer?ce ~o the odequacy o? inadequacy of the val~~e of fhe properfy mortgoged, o~ to the solvency or insolvency of
~he Mortgogor and/or the defendant ond such rents, profils, income, issues and revenves shall be applied by fhe reteiver ottording
to the lien and!or equity of fhis n+ortgage and the practice of such court, and such oppointment of receiver sholl be without notice
to any obligor hereunder.
NINTH: The Mortgogor hereby waives all ri~tits of homesteod ond exemption granfed br the Constitution and laws of
Florida. It is specifically ogreed thot timc is of the essence in this tontracf and fhot no woiver by the Morfgagee of ony obligotio~
hereunder or of the obligafion secured hereby sholl at any time thereaffer be held fo be o waiver of the terms hereof or of the
obligotion secured hereby. •
TENTH: Upon any sole, tronsfer or tonvcyance of the property herein described and tovered by this morfgage to ony
person, firm or torporotior~, not previously opproved in w~iting by fhe holder of fhi: mortgage, the Mortgogee or holder sholl hove
the right to accelerate ~the rnaturity of this mortgage as though it were due and poyable on the day of such tronifer and to demand
poyment in full of the said mongage amount or onr unpaid balance fhereof, and to exercise all the righh ond ~emedies herein or
br law reserved to said Mortgagee the some as in ony event of default hereunder, onything in the promissory note secured
hereby or herein to the contrary noMwithstanding. ~
flEVENTH: If forecbsure proceedings of ony sccond mortgage or sccond tnnt deed or any junior lien of ony kind should
be insfifuted, the Mortgagee moy, af ifs opfion immediately or thereofter declare this mortgage and the indebtedness secured
hereby due and poyoble.
TWRFTH: That in the event the premises hereby mortgoged, or any part thereof, shall be co~demned ond taken for public
use under the power of eminent domain, the Mortgagce shall have the righl to demond that all domages awarded for the taking
of or domages to said premises sholl be paid to the MoHgagee, up to the amount then unpaid on this mortgoge and the obligotion
secured hereby and moy be applied upon the payments last poyable under this mortgage and 1he obligation secured hereby.
THNtTEENTH: That instollments, payable under the terms hereof and the note secured hereby, rat paid when due, shall be
subject, after fifteen (15) days from the due dote thereof, to, and it is agreed Mortgagee shall collecf thereon and therewiM, a
"lote charge" in the omount of four per cent (4~) of the irutallment due upon each suth delinquent installment, and wch "late
charges" are secured by the lien hereof.
FOURTEENTH: Without impairing the obligations of Mortgagor tontained in poragraphs SKOND, THIRD and FOURTH
hereof, ond for application to the purposes thereof insofar as the same shall be sufficient, Morfgagor shall, in oddition to the
monthly payments of principel and interest as stoted in the original note (and in fhe rate ot notes secured hereby) provided tb be
made, pay a rrwnthly sum and amovnt equal fo one-twelfth (1/12) of the estimafed anrwal taxes, assessmenh ond inwronce
premiums upon the real estate seturity, as the amount thereof is determined from time to fime by the Mortgagee.
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~ FIFTEENTH: Thot the Mortgagor sholl fumish onnuolly, at the request of the Mortgagee, flnan:ial statements in form and
certified in o manner sotisfactory to the Mortgagee.
SIXTEENTH: This mortgage also secvres ony and all renewals ond exferuiau of the promissory oote referred to herein and
secured hereby, und all instollments thereof, and also any other notes wfiich have been or may be given to the Mortgagee by the
Mort9agor, and ony othe~ indebtedness of the Mortgagor to the Mortgagee wfiich, however, shall not exceed at any one time
the aggregate unpaid principal sum of-----------------------------------------------
---------FIVE THOUSAND AND NO/100---------------------- 5, 000. 00 E
--------Dollan (i-- -
~t being the specific intention that fu?the~ advarxes may be made by the Mortgagee at its option to the Mortgagor, either prior to
or ofter the due dates of ihe above referred to promiswry ~ote hereby secured; and ihis mortgage is given for the specific
purpose of securing any and all indebtedness by the Mortgagor to the Mortgagee in whatever monner the same moy be evi-
denced or represented, untit this mortgage is sotisfied of record; and all covenants and ogreements contained in this mortgage i
shall be applicable to all furthe~ and future advarxes made by the Mortgagee to the Morfgagor and all other indebtedness of
Mortgagor to tfie Mortgagee, and any and all renewals or exfensions thereof.
~ Seventeenth: This Mortgage Deed and the Note it secures shall be construed only
z under the laws of the State of Florida.
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t~.,a E~~, 21~' ra~~~ 420 ~
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