HomeMy WebLinkAbout1046 Lo object to the appointment of a re~eiver as aforesaid and hereby expressly
uonsents that such appointment ~hall be made as an admitted equity and as a
,~~atter of absalute right to the Mortgagee and that the same may be done without
~,otice to the Mortgagor.
26. During the continuance of any such Event of Default, the Mortqagee
,~~rsonally, or by its agent:~ or attorneys, may enter unt~ and upon all or any
F~art of the Premises, and each and every part thereof, and may exclude the Mort-
~7agor, its agents and servants wholly therefrom; and having and holding the same,
~~3y use, operate, manage and controZ the Premises and conduct the business there-
of, either personally or by its superintendents, managers, agents, servants,
attorneys or receivers; and upon every such ent,,~, the Mortgagee at the expense
~~f the Mortgage~ Property or the Mortgagor, from time to time, either by purchase,
r_epairs or construction, may maintain and restore ~he Mortgaged Property, where-
of it shall become possessed as aforesaid, may coi,.~~lete the construction or
aevelopment of the Improvements and in the couse of such completion may make such
ct:anges in the contemplated Improvements as it may deem desirable and may insure
the same; and likewise, from time to time, at the expense of the Mortgaged Propert~
or the Mortgagor, the Mortgaqee may make all necessary or proper repairs, renewals
and replacements and such useful alterations, additions, betterments and improve-
ments theret~ and thereon as to it may seem advisable; and in every such case
the Mortgagee shall have the right to manage and operate the Mortgaged_Property
and to carry on the business thereof and exercise all rights and powers of the
'•~ortgagor with respect thereto either ~in the name of the Mortgagor or otherwise
as it shall deem best; and the Mortgagee sh~all be entitled to collect and receive
all earnings, revenues, rents, issues, profits and income of the Mortgaged Pro-
~erty and every part thereof, all of which shall for all purposes constitute pro-
perty of the Mortgagor; and after deducting the expenses of conducting the business
tt~ereof and of all maintenance, repairs, renewals, replaCements, alterations,
additions, betterments and improvements and amounts n~cessary to pay for taxes,
assessments, insurance and prior or other proper charges upon the Mortgaged
Praperty or any part thereof, as well as just and reasonable compensation for the
services of the Mortgagee and for all At~orneys, counsel, agents, clerks, servants
and other enployees by it properly engaged and employed, the Mortgagee shall apply
zhe monies arising as aforesaid, first, to the payment of the principal of the
:7ote and the interest thereon, w},en and a~ the same shall become payable and
second, to the payment of any other sums required to be paid by the Mortgagor
under this Mortgage.
27. In case of proceedings by or against the Mortgaqor in insolvency
or bankruptcy or any proceedings for its reorganization or involving the liqui-
dation of its assets, then, and in such case, the Mortgagee shall be entitled
to prove the wholE amount of principal and interest due upon the Note to the
Full amount thereof, and all other payments,charges and costs due under this
'fortgage, without deductinq therefrom any proceeds obtained from the sale of
t?-~e whole or any part af the Mortgaged Property, provided, however, that in no
case shall the Mortgagee receive a greater amount than such principal and interest
and such other payments, charges and costs from the aggregate amount of the
proceeds of the sale of the Mortuaqed Pronerty and the distribution fror.? the
estate of t'~e :~lortgagor.
28. That Mortgagee shall have the right from time to time to take action
to recover any sums, whether interest, principal, or any installment of either,
or any other sums required to be paid under the terms of this Mortgage, as the
' same become due, without regard to whether or not the principal sum secured, or
any other sums secured, by the Note and Mortgage shall be due, and without
prejudice to the right of Mortgagee thereafter to bring an action of foreclosure,
or any other action, for a defauit or defaults by Mortgagor existing at the time
such earlier action was com~?enced. No remedy conferred upon or reserved to the
~~ortgagee herein, or in the Mortgage Note intended to be exclusive of any other
remedy or remedies, and each and every such remedy shall be cumulative, and shall
be in addition to every other remedy given to the Mortgagee now or hereafter
~xisting at law or in e~uity or by statute. No delay or omission of the :iortgagee
to exercise any right or power accruing upon any Event of Default herein, or in
the Mortgage Note, shall impair any such right or power, or shall be construed
to be a waiver of any such Event of Default or an acquiescence therein; and
every power and remedy giQen by the mortgage herein, or in the Mortgage Note
to the Mortgagee may be exercised from time to time as aften as may be deemed
expedient by the Mortgaqee. Nothing in this Mortgage or in the Note shall affect
the obligation of the Mortgagor to pay the principal of, and interest on, the
'+ote in the manner anu at the time and place therein respectively expressed.
29. The Mortgagor will not at any time insist upon, or p2ead, or in
any manner whatever claim or take any benefit or advantage of, any stay or exten-
sion or moratorium law, any exemption from execution or sale of the Mortgage~
Property or any part thereof, wherever enacted, now or at any time hereafter in
f orce, which may af fect the covenants and terms of perfor$ ~~~Qf~tfh~~ MQrtqage,
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GREENE AND IArNE PA,ATTORNE~S AT ~AW, 320 N E 19~^ STREET, M1~Mf ~IORIDA 33132
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