HomeMy WebLinkAbout2781 income, p~ofits, issues ond ~evenues are hereby mo?tgag~d os if specificolly sct fprth and desc~ibed in the yront~ng ond hobe~dum
clauses hereol, ond such receiver sholl hove oli the broad and effective fw+ctions and powers in any wise entrusted by a court to a
reteiver, and suth appointmenf shall be mode by s~ch to~rl as a~ admitted equity ond a matte? of obsolute right in fhe Mortgagee,
ond withouf reference to Ihe adequacy or inadequocy of the volue of the p~operty mortgoged, or to the solverxY or insolverxY of
the Mortgogor and/or the deFendant ond such rents, profits, income, issues and revenues shoU be opplied by the receiver otco~ding
to the ~ien and!or eq~ity of this mortgage and tht proc?ice of such court, and s~ch appointment of receiver shall be without notite
to ony obligor hereunder.
NINTM: The Mortgagor hereby waives oll rights of homestead and exemption granted by the Constitution and laws of
Florida. It is specificolly agreed thot time is of the esserxe in this conlroct ond thot ra waiver by fhe Mortgagee of ony obligation
he~eunder or of the obligation setured hereby sholl at anr time thereafter be held to be a woiver of the terms hereof or of fhe
obligation secured hereby.
TENTH: Upon anr sale, transfer or conveyance of the propeny herein described a~d covered by this mortgoge to o~y
perso~, firm or corporotion, not previously approved in writing by the holder of this mortgoge, fhe Mortgagee or holder sholl hove
the right to acce~erate the mafuritp of this mortgage as though it were due and poyoble on fhe day of such lronsfer and to demand
poyment in full of the said moAgage amount or any unpoid bolunce thereof, and to exertise oll the rights ond remedies he~ein or
by law reserved to said Mortgagee the same os in any event of default hereunder, anything in the promissory note secured
herebr or herein to the contrary nothwithstanding.
aEVENTH: If forecbsure proteedings of any setond morfgage or setond trust deed or any junior tien of any kind should -
be instituted, the Mortgagee may, ot its option immediately or thercefter deciore this mortgage ond the indebtedness secured
hereby due and payable.
TWRFTH: That in the event the premises he~ebY ~~9a9ed, o~ any part thereof, shall be condemned and taken for public
use under the power of eminent domain, the Morfgagee shall hove the right to demand thot oll domages owarded for the taking
of or damages to soid premises shall be paid fo the Mortgagee, up to the omou~t then unpaid on this mortgage and the obligation
secured hereby and may be applied upon the pormenis lost payable under this mortgage ond the obligation secured herebr.
THIRTEENTN: Thot installmenfs, poyable under the ferms hereof ond the rate secured hereby, not paid when due. shall be
zubject, after fifteen (15) doys from the due date thereof, to, and it is ag~eed Mortgagee shall collect thereon and therewith, a
"late charge" in the amount of faur per tent (4°/~) of the installment due upon ~ach such delinquent instollment, and such "lote
charges" are secured by the lien hereof.
FOURTEENTH: Without impoiring the obligotions of Mortgagor contained in poragraphs SE~OND, THIRD and FOURTH
he~eof, and for opplicotion to the purposes thereof insofar as ihe same shall be suf~icient, Mortgagor shall, in oddition to the
monthly payments of principal and interest as stated in the original note ~and in the note or notes secured hereby) provided to be
~ made, pay a monthly sum and amount equal to one-tyvelfth F1;~12) of the estimated annual taxes, assessments and insurance
f premiums upon the real esfate security, as the omount thereof is determined from time to time by the Mortgagee.
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~ FlficEiiTii: That the Mortgogor shall furnish annually, at the requesf of the Mortgagee, finarr.ial statements in form ond
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a certified in a monner satisfactory to the Mortgagee.
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~ SIXTEENTN: This mortgage also setures ony and all renewals and extensions of fhe promissory note referred to herein and
~ sec~red herebr, and all installments thereof, and olso any other notes which have been or may be given to the Mortgagee by the
~ Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee wFi~ch, however, shall not exceed at any one time
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the aggregate unpaid principol sum of
~ ---------THIRTY-FOUR THOUSAND AND NO/100----------- p~~arslE.. 34,000.00
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~ it being the specific intention that further advances may be made by the Mortgagee at ifs option to the Mortgagor, either prior to
or after the due dates of the above referred to promissory note hereby secured; and fhis mortgage is given for the specific
~ purpose of securing any and all indebtedness by the Mortgagor to the Mortgagee in whatever manner the some may be evi-
~ denced or represented, until this mortgage is satisfied of record; and all covenants and 'agreements contained in this mortgage
shall be applicoble to oll further and future odvances made by the Mortgagee to the Morfgagor and all other indebtedness of
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Mortgagor to the Mortgagee, and any and all renewols or extensions thereof.
Seventeenth: This Mortgage is subject to all the terms of a Construction Loan
< Agreement, of even date, the same as if said Agreement was set out herein in full. ~
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