HomeMy WebLinkAbout2908 irxome, profits, issues and reve~ues ore hereby mo~tgaged os if specifically set forth ond described in the gronting and habendum
clauses hereof, end such receiver sholl hove oll the broed and effective functions and powers in any wise ent~usted by a tourt to a
receiver, and suth oppo~nlmenl shall be made by such tourf os an odmifted equitr and a motfer of obsolute right in ~he Mortgagee,
ond withouf refererxe to the odequaty or inedequacy of the value of the property mortgaged, or to the solvency or insolventy of
the Mortgagor ond/o~ ~he defendant ond such rents, profits, income, issues and revenues sholl be applied by the receiver occordi~g
to the lien and/or equity of this mortgage and the proc~ice of such cou~t, ond such oppointment of receiver sholl be without notice
to onr obligor he?eunder.
NINTH: The Mortgagor hereby waives oll rights of homesteod and eaempt~on granted by fhe Constitution and lows of
Florida. It is specifically agreed that time is of the essence in this contract and that no waiver by fhe Mortgagee of any obligation
hereunder or of the obligation secured hereby s~oll at ony time thereafter be held to be o waiver of the terms hereof or of the
obligation secured hereby.
TENTH: Upon any sale, tronsfer or conveyonce of the property Aerein described and tovered by fhis mort9a9e to any
pe~son, firm or corporotion, not previously opproved i~ wrifing by the holder of this mortgage, the Mortgagee or holder sholl hove
the right to acceferete the moturity of this mortgage as though it were due and payable on the doy of such tronsfer and to demand
payment in full of the said mortgage amount or ony unpaid balonce thereof~ and to exercise all the rights and remedies herein or
by law reserved to said Mortgagee the same as in ony event of defuvlt hereunder, anything in the promissory note secured
hereby or herein fo fhe conirary r?othwifhstonding.
gEVENTM: If forecb:ure proceedings of any second mortgage or seco+~d t?ust deed or any junior lien of any'kind should
be instituted, the Mortgogee may, at ih option immediately or thereafter declare this mortgage and the indebtedness secured
hereby due and payable.
TWRFTH: That in the event the premises hereby mortgaged, o~ any part ti~ereof. shall be tondemned and taken for public
use under the power of eminent domain, the Mortgagee shall hove the right to demand that all damages awarded for M?e taking
of or damages to soid premises sholl be paid to the Mortgagee, up to the amount fhen unpoid on this mortgage and the obligation
setured hereby and moy be opplied upon the payments last poyabie under this mortgage and fhe obligation secured he~eby.
THIRTEENTH: Thot installmenfs, poyoble under the tcrms hereof and the note secured hereby, not poid when due, sholl b~
subject, aher fifteen (15) doys from the due date thereof, b, and it is agreed Mortgagee shell collect thereon and therewith, a
"lote charge" in the amount of four per cent (4~) of fhe irutallment due upon each such delinquent installme~t, and suth "late
charges" are secured by fhe lien hereof.
; FOURTfENTH: Without impairing the obligotiau of Mortgogor tontaincd in paregraphs SKOND, THIRD and FOURTH
i hereof, and for opplication to the purposes thereof insofar as the same sholl be sufficient, Mortgogor shall, in addition to the ~
~ monthly payments of principol and interest as stated in the original note (and in the note or notes secured hereby) provided to be
~ mode, pay a monthly sum and amount equal to one-twelfih i1/~2) of the estimoted annual taxes, assessments ond insuronce
~ premiums upon the real estote security, as the amount thereof is determined from time to time by the Mortgagee.
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~ HFTEENTH: That the Mortgagor shall fumish annually, at the request of the Mortgagee, flnan:ial'statements in fo~m and
certified in a manner satisfactory to the Mortgagee.
SIXTEENTH: This mortgege also secures any and all renewals and extensioru of the promissory note referred to herein and
~ secured hereby, and all installments thereof, and also 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, sholl not exceed ot any one time
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~ the aggregate unpaid principal sum of - -
~ ----------FIF'FEEN THOUSAND AND NO/100---------------- 15 000. 00 `
~ _ ----Dollars ~Z - -
~ ~t being the specific iMention that;~her advances may be made by the Mortgagee at its option to the Mortgagor, either prior to
~ or after the due dates of the above referred to promissory note hereby secured; and this mortgage is given for the specific
~ purpose of securing anr and all indebtedness by the Mortgagor to the Mortgagee in whatever manner the same may be evi-
denced or represented, until this mortgage is satisfied of retqrd; and all covenants and agreements contained in this mortgage '
shall be opplicoble to all further and future advances made by the Mortgagee to the Mortgagor and all other indebtedness of
~ Mortgagor to the Mortgagee, and any and all renewals or extensions thereof.
Seventeenth: This Mortgage is subject to all the terms of a Construction Loan
-t' Agreement, of even date, the same as if said Agreement was set out herein in full.
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