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HomeMy WebLinkAbout0259 s currcd by 1lfortgegee in connccGoa wlth an~ suit to enforce coUection os to foreclose t6is mortgege In tbe event this mortgage and the note or otber indebtedneaa ~nd unounts hereby s~cured be placed in tLe handa of aa attorneJ for colloction, and for the payment of all auch awounts tLis mortgage shall stand as secnrit~ and aay snch sum or suaos so paid shaU become a part of the indebtcdness secuted hereby. 7. In casa Mortgagor ah~?11 fail to promptl~ discharge an~ obligstion or coveaant as provided herein, Mortgagee shall have the option, but no obligation, to perform on behalf of Iliortgagor, An~ amoua! wLicL Mort- gagec m espend in per~orming anch act or in connectioa therewith, witL interest thereon at the rate of tW@1V@ pcr cent (~~J6) per annum, tog~etLer wiW all M:peases, including reasonable attorney's feea incnrred bp l~fortgagee, ` shall 6e immediately payable by Mortgagor and shall be secured by this mortgage, and Mortgagee ahsll be sabro- gated !o any rigLts, eqaities or lieaa so dischargcd. 8. That If the principal or iaterest on the note herein dcscribed or any part of the indebtedoesa secured hereby or interest thereoa be not paid when due, or if ~Iortgagor shall fail to pay any ta:ee, assessmeata, c6argcs, or impoaitions as the aame bccome due and payable, or if default be msde in thc full and prompt performance of any coveaant or agtecment herein contained, or if any proceedings be instituted to abate any naisaace on the ; Mortqagad Premises or if any proceedings be instituted which might resnlt to the detriment of the nse and enjoyment of thc pnmisea, or if ~iortgag~or shali make~an assignment ior tLe benefit of crediton, or if a re- ceiver, liquidator or trostee of ~iortgagor or anp of Mortgagor's pmperty be appointed, or ii Mortgagor is adjudi- ~ cated a bankrupt or insolveni or any of the pronerty of Mortgagor be sequestered, or if 1liortgagor file~ or : coasenta to the filing of any petition or pTOCeeding uader the National Bankruptcf Act or similar State oe _ _ ~ Federal Ststntea, as now or hereafter in effect, or if aueh petition or proceeding is filed against \lortgagor and ~ not dismissed within si:ty (60) days after snch filing, or if Mortgagor shall admit inability to pay debts as ~ they become dae, or it 1lfortgagor be u corporation, if its directors or stockhalders shall institute or consent to anp proceedinga for the dissolution or liqnidation of I?tort~agor or fail to ~do all things necessarq to. maintain t6e t ezistence of Mortgagor, or if any law shall be enacted or decision rendered by any coart of lsst resort imposing ~ any t~ or assessment not now in effect upon thiv mortgage, or the note secared hereby, or any intesest of 1liort- gagee in the Mortgagod Premises, or rendering inoperative the undertakings of Mortgagor to pay all taze~ arising aa a reanit of thia traasactioa other than ta~cea on ihe intereat income herefrom, or which results in the deduetion from valaes of landa, fos taz pnrposes, of the amount of sny lien hereon, or altering the lawa for the tesing of mortgages or debta secnred thereby, then on the happening of any one or more of these events, thi~ conveyance shall become absolute and the whole indrbtednes secured hereby shall immediately become due and paysble at the option of ?1lortgagee and this mortgage may therenpon be foreclosed for t6e whole of said money, intereat and costs, or 1liortgagee may foreclose only ss to sums past due without iajnry to this mortgage or the displacement or impairment of the remainder of the lien tbereof, and at such foreclosure sale the propertp shall be sold subject to all temaining items of indebtednesa and the ~liortgagee may agein foreclose in the same manner as often as there may be anq sum past due. 9. If st any time afttr default by Mortgagor a receivership may be necessary in the opinion of 11~ortgagr,e to protect the lien hereof, or at the time of or after the institntion of snit to collect the indebtedness hereby secnred, • or to foreclose this mortgage, \iortgagee shall, as an admitted equity and as a matter of strict right and regard- Iess of the value of the property, or the solvency or insolvcncp of 111ortgagor or any party bonnd for the pafinent ; of the indebtedness have the right to appoint, on ez parte application and without notice to anyone by any proper court having jurisdiction, of a receiver, which receirer shall ha~e all of the broad and effective powers and functions in any wise entrnsted by the court to a recei~er to take charge of, manage, preserve, maintain, care for and protect the 1liortgaged Premises and to colieet rents, issues, proceeds, prod~ce, profit, income and 5 recenues of the Ilfortgaged Premises from wLatscever soarce derived; to make all necesssry or needful repairs # and to culti~ate, operate, dast, prune, fertilize, lime, drsin, irrigate and protect from damage by fire, the timber, . fields, pastnres, orchards, citras groves and al] other agrieultural developments located on the :lfortgaged Premises ~ and to market the products thereof and receive and collect the proceeds thereof and such recei~ership sball, at ' the option of Diortgagee, continue until the full payment of all sums herebp secured, or until title to the ~fort- ~ gaged Premises shsll have passed on sa3e under a foreclosure of this mortgage. y (See Exhibit A for paragraphs 10, 11, 12 and 13 which is attached hereto) ~ Ir Is Aaasen that granting an~ e:tension of time of pafinent of any sum coming due nnder the note aforesaid ~ or under this mortgage, to any person, or the taking of ot(~er or additional security for the payment thereof, _ the wsi~er of, or failure to exercise, any right to mature the whole debt or any other waivcr by Jiortgagee shall not ~ in any ~cise affeet this mort~age or the rights oE 1lfortgagee herevnder, or operate as a release of any liability or any co~•enant or stipulation hcrein contained. The several rights and remedies in this mortgage contained, provided, dcclarcd or suthorized, shall be construed and deemed as cumulative and no one or more of them as exclusive of the othcr or any of the others or of any rights or remedies which now or hereaft^_r may be given or allowed b~ law. ~ Ziortgagor unconditionally grants to ~fortgagee thc right to enter upon and inspect the dfortgaged Premisrs at all reasonable times. The words ":liortgagor" and "Mortgagee" ~vhea nsed herein shall be taken to inelude the singular and ph~ral F number and masculine, feminine or neuter gender, as may fit the case, and shal! include the heirs, administrators, s executors, successors and assigns of the parties hereto. Each and sll of the terms and provisions hereof shall ex- % tend to and be a part of any renewal or eatension of this mortgage. In the event that there is more than one mortgagor, then, at ihe option of 3lortgagee, any act or action by, on behalf of or against either mortgagor, shall hace the same effeet as tbough by, on behalf of or against all mortgagors. This mortgage and the note secured hereby constitute a Florida contract and sha[L be construed according ' EOOK~~9 PaGf ~t~ _ ~ ~ : ~ ~ ~ , ~ ~ ~ ~ ya~~~y?~" 3 ~'~'a'~5~ e~~ . ~ ~ i"~ ~M'-'~Fu`~~~