HomeMy WebLinkAbout1671 intome, profits, issues and revenues are hereby mortgoged as if specificolly set forth ond described in the granting ond habendum
clauses hereof, end such receiver :holl hove all the brood and effective functio~s ond powen in ony wise entrusted by a court to 0
~eteiver, ond such oppointment sholl be made by such tou~f as on admitfed equity and a matter of obwlule right in the Mortgagee,
ond without reference to the adequacy or inodeqvaty of the volue of the propertr mo~tgoged, or to rhe solvency or insolvency of
the Mortqogor ond/or the defendant and such rents, profifs, income, issues and revenues sholl be applied bY the receiver occo~ding
to the lien and%or equity of this mortgage and the prottice of suth tou?f, and such appointment of receive? sholl be withouf ~otice
to any obligor hereunder.
NINTH: The Mortgogor he~eby waives all rights of homestead and exemption granted by the Constitution ond lows of
Fbrida. It is specifically agreed Mof time is of the essence in this tontract o~d thot no waive? by the Mortgogee of any obligotion
hereunde~ or of the obli~otio~ secured hereby sholl ot ony time thereofter be held to be a woiver of the terms he~eof or of the
obligotion secured herebr.
TENTH: Upon anr sole, tronsfer or conveyarxe of fhe property herein described and cove~ed by this mortgoge to any
persa+, firm or corporotion, not previously approved in writing by the holder of this mortgage, the Mortgogee or holder shall have
the right to occelerote fhe maturify of this mortgage as M~ough it were due and poyable on the day of such transfer ond to demand
poyment in full of the said mortgage amovnt or ony unpoid balance thereof, and to exercise all the rights and remedies herein or
br law resened to said Mortgoyee the same as in any event of defoutt hereunder, onrthing in the promissory note secured
heroby or huein to fhe contrary noMwithstonding.
REVENTH: If foretbsure proceedings of ony second mortgage or second trust deed or ony junior lien of ony kind should
be instituted, the Mortgagee moy, at its option immediotely or thereafter declore this mortgage and the indebtedness secured
hereby due and poyoble.
TWQFTH: That in the event the premises hereby mortgaged, or any part fhereof, shall be condemned and token for public
use under the power of eminent domoin, the Mortgagee shall hove the right to demand thot all damages awarded for the toking
of or damages to said premises shall be paid to the Mortgagee, up to the anwunt fhen unpaid on this mortgage and the obligotio~
secured he~eby and mey be applied upon the payments last payable under this mortgage and the obligation setured hereby.
THIRTEENTH: Thot installments, payable under the terms hereof and the note secured hereby, not poid when due, shall be
subjec~, ofter fifteen (15) days from the due date thereof, to, and it is ogreed Mo~tgagee shall collect thereon and therewith, a
"late chorge" in the amount of four per cent (4~) of the installment due ~pon each suth delinquent installment, and such "late
charges" ore setured by the lien hereof.
F~IIQTFFNTN. W~Nw~~ N+..+I,Gn.,~~nc ~f Morfaaoor contoined in oarographs SECOND, THIRD ond FOURTH
hercof, ond for application to the purposes thereof insofa~ as the same sholl be sufficient, Mortgagor shall, in addition to the
monthly poyments of printipol and interest os stoted in the original nofe (ond in fhe note or notes secured hereby) provided to be
made, pay a monthlr sum and amount equal to one-twelfih (1/12) of the estimated annual taxes, ossessments and insurance
; premiums upon the real estate sccurity, os the amount thereof is determined from time to time by the Mortgagee.
i FIFfEENTH: Thot the Mortgagor shall fumish annuallr, at the request of the Mo?tgagee, finan:ial statements in fo~m and
` certified in a manner satisfactory to the Morfgagee.
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~ SIXTEENTH: This mortgage also secu~es anr and all renewols and externions of the promissory note referred to herein and
r secured hereby, and oll instollments thereof, and also any other notes whid~ have been or moy be given to the Mortgagee by the
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Mortgogor, and any other i~debtedness of the Mortgagor to the Mortgagee which, however, sholl not exceed ot any one time
the aggregate unpaid principol sum of
g -_-_-TEN TFiOUSAND AND NO/100=- pd~an (s 10, 000. 00 _
~ it being the specific intention that further advances moy be mode by the Mortgagee at its option to the Mortgagor, either prior to
or aNer the due dotes of the obove referred to promissory note herebr secured; and this mortgage is given for ihe specific
~ purpose of securing any and all indebtedneu by the Mo~tgagor to_,the Mortgagee i~ whatever manner the same may be evi-
~ denced or represented, until tfiis mortgage is satisfied of record; and oil covenanh and agreements contained in this mortgage
~ shall be applicable to oll further and future advances made by fhe MoAgagee fo the Mortgagor and all other indebtedness of
~ Mortgagor to the Mortgagee, and ony and all renewals or exfensions thereof.
~ Seventeenth: This Mortgage is subject to all the terms of a Construction Loan
Agreement, ~f even date, the same as if said Agreement was set out herein in full.
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aoRO~ 22~. PAGf 167i
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