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HomeMy WebLinkAbout2325 income. profits, issues and reven~es are hereby mortgoged os if specificot~y set fo~th and described ~n the granti~g and habendum clauses h~reof, and svch receiver sholl hove all the brood and eftect~ve funcrions and powers in any wise e~t?usted by o covrt to 0 receiver, and such oppointment shall be mode by such court os an admitted equity ond a matter of obsolute right in fhe Mortgagee, ond wifhouf reference to the odequaty or inadequacy of the valve of fhe prope~ty mortgaged, or to fhe solventy or insolventy Of the Mo?tgogor and/or the defendant ond such rents, profits, income, issves ond revenues shall be opplied by the reteiver atcording to the lien andlor equity of Ihis mo~tgage ond the prac?ite of s~th court, ond such oppointment of receiver sholl be without notice to ony obligor hereunder. NINTH: The Mo~tgago? hereby waives all r~ghts of homestead and exemptio~ granted by the Constitution and laws of Ftorida. It is spccifically agreed thot time is of the essence in this controct and thot no waive~ by the Mortgagee of ony obligation hereunder o? of the obligation secured hereby shall ot ony time thereofter be held to be a waiver of the terms hereof o~ of the obligotio~ secured herebr. TENTH: Upon ony sale, tronsfer or conveyance of the property herein destribed and covered by this mortgage to any person, firm or torporotion, nat previously opproved in writing by the holde~ of fhis mortgage, the Mortgogee or holde~ shall hove the right to accelerote the maturity of this mortgage as thovgh it were due and poyable on the doy of such tronsfer and to demond poyment in full of the said mortgage amount or any unpaid bolorxe thereof, ond to exercise all the rights ond remedies herein or ; by law reserved to said Mortgagee ihe same as in any evenf of defouft hereunde~, anything in Me promissory note setured hereby or herein to the controry nothwithstanding. i QEVENTH: If forecbsure proceedings of any setond mortgege or sccond ttust deed or any junior lien of any kind should be instituted, the Mortgagee may, at its option immediately or thereafter declate this mongage and the indebtedness secured hereby due and poyable. TWRFTH: That in the event the p~emises hereby mortgaged, or any port thereof, shall be condemned ond taken for public use u~der the power of eminent domain, the Mortgogee sholl have the right to demand that oll damoges awarded for the taking of or damoges to said premises shall be paid to the Mo~tgagee, up to the amount then unpoid on this mortgage and the obligation secured hereby and mar be applied upon the poyments last poyable under this mortgcge and the obligation secured hereby. THIRTEENTH: Thaf installments, payable under the terms hereof and the note secured hereby, not paid when due, shall be subject, after fifteen (15) days from the due date thereof, to, a~d it is agreed Mortgagee shall collect thereon and therewifh, n "lote charge" in the amount of four per cent (4~) of the installment due upor~ eath such delinquent installment, and such "lote charges" are secured by the lien hereof. FOURTEENTH: Without impairing the obligatiau of Mortgagor contained in parographs SECOND, THIRD and FOURTH hereot, and for opplicatwn to the purposes thereof insofar os the same shall be sufficient, Mortgagor shall, in additio~ to the monthly payments of priruipol and interest as stated in the original rate (ond in the note or notes setured hereby) provided to be ~ made, par a monthly sum and amount equal to one-twelfth (1/12) of the estimated annual taxes, assessments and insurance ~ premiums upon the real estate security, os the amount thereof is determined from time to time by the Mortgagee. ~ , ~ FIFTEENTH: That the Mortgagor shall furnish annually, at the request of the Mortgogee, finansial statements in form and ~ certified in a manner satisfactory to the Mortgagee. ~ ~F SIXTEENTH: This mortgage also setu~es any and all renewals and extensions of the promissory note referred to herein and secured hereby, and all instal~ments thereof, and alw 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 which, however, shall not exceed at any one time - - ~ the aggregate unpaid printipal sum of---- . - - - - : ------THIRTY-SEVEN THOUSAND FIVE HUNDRED & NO/l~~o~ ~s 37, 500. 00 _ ; ~ it being the specific intention that further cdvonces may be made by the Mortgagee at its option to the Mortgago~, either prior to ~ or ofter the due dates of the obove refer?ed to promissory note hereby secured; and this mortgage is given for fhe specific ~ purpose of securing any ond all indebtedness by the Mortgagor to the Mortgagee in whatever manner the same may be evi- denced or represented, un?il this mortgage is satisfied of record; and all covenants and agreements contained in this mortgage ~ shall be appticable to all further and future advances made by the Mortgagee to the Mortgagor and all othe~ indebtedness of ~ Mortgagor to the Mo~tgagee, and any and oll renewols or extensions thereof. ~ _ ; ~ ~-J M17 'r.9 ~ • :.r. ?F~: ;<a 3~,'; dooK 2~2 PA~2325 - 3 - ;r: ~.Q .