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income, profits, issues ond reve~ues are hereby mo?tgoged os if specificolly set fonh ond described in che gronting and hobendum
clouses hereof, and such ~eceive? shall hove all the brood and effective functions and powers in ony wise ent~usfed by o tourt to a
rcceiver, ond suth oppointme~t sholl be made by svth tourl os an admitted equity and o mafter of obsolufe righf in the Mortgagee,
and wifhout reference to the adequacy or inadequocy of the value oE the property mortgaged, o~ to the solvency or insolvency of
the Mortgogor ond/or the defe~da~t ond such rents, profits, irxome, issues and ~evenues shall be apptied by ?he receiver occording
fo the lien and/or equity of this mo?tgage and the practice of such court, and such oppointment of receiver sholl be withovt ~otice
to any obligor hereunder.
NINTH: The Mortgagor hereby waives all rights of homestead ond exemption granted by the Constitution ond laws of
Flo~ida. It is specifically agreed thot time is of the essence,in this contract ond that no woive~ by the Mortgagee of any obligation
hereunder or of the obligation secured hereby shall ot any time thereafter be held to be a waiver of the terms he~eof or of the
obligafion secured herebr.
TENTH: Upon any sale, tronsfer or to~veyarxe of the property harein dexribed and covered by this morfgage to any
person, firm or corporetion, not previously approved in writing by ihe holder of this mortgage, the Mortgogee or holder shall have
the right to accelerate the maturity of this mortgage as though it were due and payable on the day of such transfe~ and to demond
payment in full of the soid mo?tgage amount or any unpaid balance fhereof, and fo exertise all the rights ond remedies herein or
by low reserved to soid Mo~tgcget the same os in any event of defoult hereunder, onything in the promissory note secured
hereby o~ herein to the contrary nothwithstonding.
QEVENTH: li fo~etlosure proceedings of any second mortgage or second trust deed or anr junior lien of any kind stwuld
be instituted, the Mortgogee may, at its option immediotely or thereafter declare this mortgoge' and the indebtedness secured
herebr due and parable.
TWaFTH: Thot in the event the p~emises hereby mortgaged, or any part thereof, sholl be coodemned and taken for public
use under the power of eminent domain, the Mortgogee shall hove the righf to demand that all damoges awarded for the faking
of or damages to said premises shall be paid to the Mortgagee, up to the amount then unpoid on this mortgage and thc obligation
secured hereby and moy be applied upon the poyments last payable under this mortgage and the obligotion secured hereby.
THIRTEENTH: That installments, poyoble under the te~ms hereof and the note secured hereby, not paid when due, shall be
subject, after fiheen (15) days from the due dote thereof, to, and it is agreed Mortgagee shall collect thereon ond therewith, a
"lote cha~ge" in the amount of four per tent (4°~) of the installment due upon each suth delinquent installment, and such "late
charges" are secured by the lien hereof.
j FOURTEENTH: Without impoiring the obligatiau of Mortgagor contained in paragrophs SECOND, THIRD and FOURTH
~ hereof, ond for application to the purposes thereof insofar os the same shall be suf~icient, Mortgagor shotl, in addition ta the
~ ~~~Y PaYments of principat and interest as stated in the original nofe (and in the note or notes secured herebyl provided to be
! made, pay a monthly sum and amount equal to one-twelfth (1/12) of the estimated annual taxes, assessmenh and insurance
~ premiumz upon the ~eal estote seturity, as the amount fhereof is determined from time to time by the Mortgagee.
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~ FIFTEENTH: That the Mortgagor shall furnish annually, ot the request of the Mortgagee, finan:ial statements in form and
~ certified in a manner sotisfoctory to fhe Mortgagee. ~
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~ SIXTEENTH: This mortgage olso secures ony ond all renewals and extensions of the promissory note referred to herein and
~ secured hereby, ond all insfallments thereof, and also ony other notes which have been or may be given to the Mortgagee by the
Mortgagor, and any other indebtedness of the Mortgagor to the Mortgogee which, however, sholl ral exceed at any one time
the aggregate unpaid principal sum of---
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~ -------THIRTY-FIVE THOUSAI`D AND NO/100------------- _po~~o~ ~s 35, 000. 00 ~ .
it being the specific intention that further advances may be made by the Mortgagee at its option to fhe Mortgagor, either prior to
~ or after the due dates of the above referred to promissory ~ote hereby secured; and this mortgage is given for tfie specific
~ purpose of securing any 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 retord; ond all covenants and agreements contoined in this mortgage
~ shall be applicable to cll furfher and future advarxes made by the Mortgagee to the Mortgagor and all other indebtedness of
Mortgagor fo ihe Mortgagee, and any ond oll renewols or extens+ons thereof.
Seventeenth: This RZortgage Deed and the Note it secures shall be constr~ed only
- under the laws of the State of Florida.
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