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Home My WebLink About0246 aaJ pay th~ ~v~ r~~lus, i C any, to said Nort~;uf;ur. Tl~e Martgat;ce sl~all also have ~ '~an o~tion to scll the premises in parccls ~r_in one unit. ~ 16. Whencvcr used in t1~Ls instrument, u~less tl~e co~text sha~l othen+ise clcarly require, the tcrm "~1urtF;a~;or", shall inclucle the le~al representatives, succes- sors anJ assi~;ns, of ~turt~;a~;ur, an~l :~11 pcrsons claimia~; by, tl~rou~;h or undcr Mort~;aF;or; ti~c t~rm ";i~rt~;~::;ur" sl~all i~clude tiw l~~al repr~srntatives, suc- cessors and assi~;ns of rlort~;a~;ec; ti~e term "note" shall rcEcr to ti~e prumissory note evidencin,.: tl~e in~cbt.~cJness i~ereby sccurcd; tl~e tcrm "rersun" shall in- clude any inclividual, ~~rtn~•rshiP, cor~or~tion, trustcc, or unincor~or~t~d associatioa; tl~~ t~rm "pr~mises" shall include the real est~[e described here- in, to~;ett~~r witl~• all bui~lJin?;s, structur~s, a~d improvrm~:nts therron, and all fixtures, machinery, ap~aratus, equipment, and ar[icles of personal property referred to he•.-ein, and any and all othcr right, propcrty, or interests ac any time subject to the lien of this Mort~age; the sin~ular shall include the plural, and the plural, the sinsular; the gender used shall include the other gendecs . 17. All of the terms, covenants, conditio~s, and agreements herein set forth shall be binding u~on and inure to the benefit of the respective successors and assigns, of the parties hereto. 18. Upon the commencement or during the pendency of any action to foreclose this Mortgage, the court in which such action is brought may appoint a receiver of mortgaged premises, and may empower said receive to collect the rents, issues and profits of said premises during the pendency of such foreclosure action, j and until the confirmation of sale made under any judgment foreclosing this ~ Mortgage, and may order such rents, issues and profits, when so collected, ' to be held and applied, as [he court shall from time to time direct. ~ . i 19. Mortgagee shall be subro~ated for further security to the lien, although re- ~ ~ leased of record, of any and all encumbrances paid out of the proceeds of the ~ loan secured by this rtortgage or any advances made by Mortgagee hereunder. ~ - _ i 20. In the event the loan secured hereby is obtained to assist in financing building • construction or remodeling, or other i~provements to the premises and: (a) i ' If such improvement shall no[, in accordance with plans and sgecifica[iorts ap- I proved by Mortgagee, be completed prior to the expiration da[e established by i ! Mortgagee, or (b) If work on such improvements shall cease before completion ; ~ and remain abandoned for a period of thirty consecutive days, the existence of ~ either circumstance shall constitute an event of default under the terms of i ~ this instrument, and at any time thereafter, the said note and the whole in- i ~ iadebtedness secured hereby shall, at the option of the Mort~agee and without no- a tice of Mortgagor (such notice being hereby expressly waived), become due and collectible at once by foreclosure or otherwise. In the event of such cessa- ~ tion or abandonment of work as aforesaid, Mortgagee may, at its option, also enter upon the property and complete the improvements and riortgagor hereby ' ~ gives to Mortgagee full power and authority to make such entry and to enter in- ~ to such contracts or arrangements as it may consider necessary to complete the ' same. All r~oneys espended by rlortgagee in connection with completion o-f said improvements sliall be added to the indebtedness hereby secured and shall be payable by Mortgagor i~mediaEely and without demand, with interest at the rate ~ specified in the note secured hereby. riortgagee shall have the right to enter ~ upon the property at any and all times to inspect t~ie premises. ~ 21. That any stun or sunis which may be loaned or advanced by the mortgagee to the ~ Mortgagor at any time within ten (10) years from the date of this indenture, ~ together with interest thereon at the ra[e agreed upon at the time of such loan or advance, shall be equally secured with and have the same priority as the original indebtedness and be subject to all the terms and provisions of th~s ~~y' tuartgage; provided, that the aogregate amount of principal outstanding at any . Y~' time shall not exceed an amount equal to one hundred and fifty per cent (150%) of [he principal amount originally secured hereby. ' ~ 22. Although this mortgage secures all advances made and to be made as described r:^~ herein, and as provided in Florida Statutes, Section 697.04, through .~~s December 31, 1973 only $500,000 has been or will be so advanced. _ ~.s:y s`'- - kr ~ Y ,_i -6- OR~~ ~ ~ ~ i - ~z ~ ~ i" ~.f _ Y-. ~ _ . . . . ' . . - _ . _