HomeMy WebLinkAbout0664 Ic~icd u~wn tl~c \lortgabc or the dc•bt si~;~u~d hen•by, or againct the holdrr ihermf, or pro~•ides that any amount so paid by tht b~ortgagor
~nu~t iK~ cndil~~l un /F~e ~n~xtgag~til di~l~t, d~e \I~xt6agrr shall hsve the right to give ninely clays' wntten nutice to tha ow~~er of the mort-
Ka~,etl prc~ui.~~,, nti~iuring the payu?enl of d?e mort~agr Jebt. H~th acrru~rl int~Y~~t auct Cll:lfb'CJ. II such notice be given, the said debt,
~cith a~r~ucJ mt~n-~t and chrrg~~, .luzll ~~•oine ctuc, paya6le and coliectibla at the expir~tion oE said ni~My days ar?d upon deFault in such
paYinrnt s(ter s~?ch ni~iety daya, this ~furibag6 may be immcdialely foreclosed.
t3. That i( at any time in the opi+uon of the Mortgague a receivanhip may be ~occxsary to protect the mottgaged pro~ty or its
rrnt~, issues, prufi4+, or prcxluc~:, N'fIClI1M lxtore or after ~naturity of the indebtedness hereby secured, or at the timo of or after the insti-
tutiu~ uf suit to coU~rt such iudebti~In~ss or tu enfurce this \loKgage. the Alortgagce sha!!. as a matter of sViet right and regardlas of
thc value of the mort~,agc ~e~:unty fur thc amounti due hereund~Y or secured hereby, or of the solvrncy of aay partY bound Eor the pay-
menl ~~t such ind~•bt~~iness, hu~•e ~6e right to tl~e appointment on ex parte application, and without noticr to aAy~r?e, by 1wy Court having
jurisdi~tion, uf a NctiY•i~~er to t~lce ch~rbe t~f, m~uiage, presen•e, pmte~~t and ~c•ratr said jxu~x•Ry, [o rulkti•t the rents, issues, profits and
inranc thrreof, to ms?L:c all ncc~y.wry or nixdful npairs, and to pay all tau~es aad assessments against said propeRy and insurat~ce premiums
_t _ ~l.1. .ar.r'a•orel.in urv~ nunaeen,ent of the uroDertY to aPP1Y the net proceedt
~lA Ua ~~~S~all' liltalvi. Ji~~i : =:.:j:::". : '~s~~_" '
in reduciiun nf d~e indcbtedness h~Yeby secured or in such manner as the Caut shall di~ect. Such recei~~ership shall, at Ne option oi itiuri- -
g:~grr, aHuinue until ~ull pay~n~•nt of all sums hereby secured. or until tide to said property shail havc passed by sale under this Mettgagt.
14, That the set;urity hcTein and hcmby provided shaU not aifect nor be affected by any other or further security taken a~ to be
tukcn for t[ie s:uue inctrbtecfi~css, or any part thercof; and t}~c said Mortgagar hereby declares that lhe property hereinbefae mentiaied
and a~nvcye.d to said \lurtga~uc fomu no patt of any pr~erty owned. used or claimed by the said Mortgagor u exempted from forced ' -
sale undcr the law-s of thc State of hloricla, and discirims. wai~•es, and renoiurces al) and every claim to e~cemption under any hanest~d
~xcrt~piion or othcr laws.
l3. Sha~W d~c ~lortgagce at any time request in writin~ that the ~lortgagcx confirm the amount of the indebtedaess fo~ principal
and interest s~r?u~~cl by this ~tortgage ancl the validity of the Ucn heieof, the rtortgagor coveoants and agrees to give such written con~tr-
mation a•ithin (i~•e J:?~K atter reeeipt of such KTittrn rertucut, or within said penod of time to advise the I~tortgagee in wridng of any
disputc as to thc amount of the indchtcdncss sccvred hereby or the validity of this ~tortgage, or the lien hereof.
;
l6. Tl?at in thc r~•ent thc premises hereby• mortgaged, or any part thereof, shall be condemned or taken unda the power oE emiaeat
douiain the \I~xtgugcr shaQ havc the ri~ht to demand that all damages awarded for d?e taking of or injur}• to said premises shaU be paid to ;
thc ~tort~agcr up to thc amuunt then unpaid on this lfortgage, and may be applied to any sums last payable hereuncier.
17_ lt is a~crd that not8ing hcrein rcxitained nor any transaction relatod tl~ereto shall be constniod or so crpcrate at to requice the
\tortgagur to pa~• interest at a rate greater than it is now lawful in such Case to contract for, oc to make any paymeat or to do aDy act eon-
iran• to ia~c; ii~at if :i7ij' C'~iC~l'j ~r pr~is:~ l.e:csa ~,~a:ts~-~d u~r3te or u^e:ld ~r~~c~cti.•ely operate to imalidate this \fottgage or said
~+~te in ~~Luk• ur in part, thi•n, such cla~ut~c a~xl pm~•i+ionc unlp chall be held for naught, 2~s though nat hesein roataineti, and the remainder
oF th~'s ~Tortgagc lis1T-rema~n
opcrs ~vc an~-in filU "foice"an3-ef~ecC
18. In the e~•ent of any default or hreach on the part oi \tortgagot hereunder ar of said promissory note, the l~tatgagee shall have
the continuinR option to rnforrn thc pa}Tnent of all surrtc sccurcYl hercb~• by action at law or by suit in equity to foreclaae this matgage,
~~ithc•r cx l~ti~, concurrently or dh~m~ise, ai?d one action or suit shall not abate or be a bar to or waiver of the Mortgagee.'s right to ituti-
tute or inaintain d~e other, prnvided said ~iortgagce st?all have only one pa~~nent in satisfaction oE said indebtedrtess.
19. If this mortga};e is su}xudinate to prior mortgages encumbering the encvmbered property, then, in addition to a11 other rights,
remedic~c and pririle~es it n~a}• have, thc ~fi~rtgagoe shall ha~•e rip,hts, remecii~ and pri~~legrs identiral to those granted to the trwrt-
};agces undrr the prior mortga~;es, ezcept as to those riRhts, remedies and privileqes incapable of etercise by the ~tortgagee; and said rights
remeclics ancl pri~~ile~es aze hercby incorporstcd into thic mortgage by rrference and made a part hereof. It is the intention of the parties i
that the \lcxtga~~Y• shall hare, in addition to the rights, remeclies and pri~~ileges it may ha~•e under this mortgage, by law, and by agree- ;
ment wid~ thc \tort~a~or, the sa~nc benefitc, ~crurit.• and protcction granted to the mortgagees under the prior mortgages, save only i
such as are relcaseci in a~i-itin~ b.- the ~fortgager or such as may be exercised by the first mortgagee aMne. ~
20. In thc e~•ent oF forcrlosurc of this mortgage or other translcr of title to the mortgaged property, all right, title and interest of
N~f• \furt~~:i,nr in :ind t„ ;~ny in.ur.inc~• pnlic•i~. th~~n in forc~~. includinq all premiumc thereon paid in adranee, and tostether with aIt deposits
and ad~•.~?~ce ra~•ment, !or utilih~ srnice of any kincl or nah~m, heretofore or hercafter depositod by the \~ortgagee for such utility service,
in connectian With UIC OPl7ation uf the~ mortga~ccl prcmiscc, shall pass to the purchaser or grantee_
~1, ~tort~.igor rn~•enants and ae~rr; to first obtain the ~~rittcn c~nsent o! the ~tortgagee befvre remo~~ing or demolishing any build-
in, now• un c~rc.+h~•r i•r~Y-[~cl rin th~~ pri•n~i.es, ~~r :~lti~rin~ thi• arr:m~;emrnt, design or stn~ctural character thereof, or m~ing any repairs F
~~'Rich invokc thc reu~o~:il ni ~tnichval part~ or thc e~po~c~~re of the interior of thc subjcrt building to the elements.
If the i~dcbtedne+s .ecurc~ei tierrh~• ic no~v or hercahcr further sec~~rcd hy chatte! mortgage, pledges, contracts oE guaranty, as-
si~nments of Ir,ues. or Mhcr sccuritics, or if the premises hereb~• encumhered consist oE more than one parcel, the \~ortgagee may, at its
~~tion rxhanst any on~ or nwre of s.?id uY~~rit:c~s anci the scrurih hereunder or such parcels of the sea~rity hereunder, either rnr~uretttly
or independentl~•. ancl in such ~~rder as it ma~• determine.
~3. R'ithout affec•tin~ thc• liabilih• of th~ 11ortKa~or or am• other ~erson (escept any persc~n expressly released in writing) fa pay-
, ment of an~• inclri~te~lnc~s ticrured hrreh~~ rx fcx ~~r[onnance of any ohligation auitained herein, and without afEectittg the rights of the
\tortR.igce w•ith ri~~uY•t to am• ~irurit~~ not c~Pressl~- rcleascd in W~ritinti, d~c \IortKagce may, at an}• time and from time to time, either b~
fore or aftcr thc matnrity of v?id noM and ~~•ith«~t noticc and consrnt:
(a) Rclcase any person liable for pa~~ment of aU ar any part of thc indebtedness or for pedorrnance of any obligation.
i (b) ~fake any a~recnnent cxtending thc ti~nc or other~~•isc, alterin~ tl~e tcrn~s nf pa~-ment of ail or any part if the indebted-
ncss ar malifying or ~~~ai~•in¢ any obii~ation or sufx~rdin:itinfi, madifying or othe~•ise dcaling with the laen or charge
~ hereof.
; (c) Exemise or rcfrain from e~ercising or wai~~e any right the ~tort~agee may ha~•e.
; (d) Accept additional srcurity of any kind.
~ (e) Reiease or othenvise dcal a•ith any propcrty, rcal or personal, securing the indeotedness, inciudi~tg all ur nr,y part o#
~ the property mortgageci hereby.
~ `?4. Any acrec~ment hrrr.iher made b~• \tort~acor and licxtfi:sRee pursuaat to this mortgage shall be superior to the rights of holders
' of any inten~ening lien or encumbrance.
; 25. In the e~•ent thcre e~ists any inrnnsictency beha•ecn the pro~•isions of this mortgage and the pro~~sionc of any superior mortgage,
, the pro~•isians of the s~~perior mortfixge cleall prc•~:~A. ~othin~ contained in d~is mortgaRe shall }x~ rnnctn~ed in such manner az to cot~stitute
~ a viol:?tian of an~~ pro~isinn of any superior mort~;;i~ee: ancl nothinfi containecl in this mort~age shall be deemed or construed to entitle moct-
~;agor or authorize the mortRagee to do an}• act or thin~ w~hich H-ould rnnstitute a a•iolation of any cotienan! or agreement of mortgagar
containcd in an}~ s~ipc~rior mortgage.
? 26. It is agteed that if any of the property herrin mortgaqec~ is of a n~h~re so that a security intercct therein ean be perFeeted under
~ L'niform Commercial Cndr, this instrimi~nt .h:?11 c•rmstitutc a security aGrc~~nent and \iortgaRor aArees to join with ttatgagee in the
~ rzecidion of am• financinQ sfatcments and to CCfY'IItP anr othet insiniments that may he r uirrcl fnr the
~ c~ ~rfection or renew•al o( such se-
> curity interect under d~c l'nifonn Comnmrcial Ccxle. A Satisfication uF this mortgage, w~hen recorded, shall coastitute a satisfaction of any
_ financing statemrnt filc~ in ccx~nection ~rith this instnunent, or renewal thereof. -
27. In addition to the obli~ation dcscriF?ed a}xn•c ac e~•idcnced by the prrxnissory note, this mortgage is gi~•en to secure any and al! t
obli~ations frcxn thc~ ~fort~:tGtx to the ~1ortQ:i~m bq ~•irh~e nf any sernrity~ a~recment, promicson• note or other apreement bM~veen ~tort- ~
2 gagor and \tort¢agee and~ (or ali obligations of ~tort~agor to ~t~irt~a~ec, continsrnt or ahsolute, direct or indirect, rcgardless nf havever or
~ N•hcne~~er crcated.
' 2$. The pro~•isinns hcrrnf shal) bc hindinR u~n ti~~ \tort~a~or and the hcirs, de~•isces, persona) represcntati~~es, sacccxsors and as-
+ ~ign.c oF the Uortgagor, as the ca~e ma}' lx~. :tind inure~ to the Fx~nefit of the ~Icxt~a~ee and the heirs, de~•isees, personal reprecentatives,
c~ccces~ors and at:i};nc of th~ \tort~;agcr, as the c:~ce may be. R'here mrxe th u~ one ~fortgaRor is named hcrein, the obtigations and liability
nf said \tortga~or shall he joint and sc~~cral.
_ ments nnder the te:m~ oi the notc securecl hcrchy, on thc ~pecified date of~each month untii the said note , pay to ~~ort-
~;agre the follow•ing sums:
(a) An installment o( th~ taxes and , or to be Ie~•icd aqainct the premises coti•ered by this mortgage: and
an installment or premiums that w~iA 1x•cane due and payable to reneu~ the insurance on the premisfs
_ er y aKainst locs by fire, aad windstorm. M such other hazard as may reasonably be rcqu'vod. Such install-
k £
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