HomeMy WebLinkAbout0346 intome, profits, issues and revenues ore hereby mo~tgoged os if speufKOlly set forth and described in the grant~ng ond hobendum
ctauses hereof, ond such reteiver sho!I hove a~l the broad and effective functions and powers in any wise entrusted by o tourt to a
receiver, a~d svch oppointmen~ shall be made by such court as on adm~tted eq~ity and a motter of absolute right in the Mo~tgagee,
ond withouf reference to 1he adequacy or inodequacy of the volue of the p~ope?ty mortgogrd, or to the solverxy or insolvency of
the Mortgagor and/or the defendant ond such rents, profits, irxome, issues and revenues sholl be oppl~ed by the receiver according
to the lien ond,or equity of this mo~tgoge ond the practice of s~ch courf, ond suth oppointment of receiver sholl be without nofite
to ony obligor hereunder.
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NINTH: The Mo?tgagor he?eby waives all r~ghts of homesteod ond exempt~on gronted by the Const~tut~on and laws of
Florida. It is specifically agreed thot fime is of the esserxe in this controct and that no woiver by the Mortgogee of ony obligation
hereunder or of the obligotion secured hereby shall at any rime thereafrer be held to be o woiver of fhe terms hereof or of the
obligation sec~red hereby.
TENTH: Upon any sale, transfer or conveyance of fhe properfy herein described ond covered by this mortgoge to a~y
person, firm or corporotion, not previously approved in writi~g by the holder of this morlgoge, the Mortgogee or hJlder shall have
the right to actelerote the maturity of fhis mortgoge os though it were due and payoble on the day of such transfer ond to demand
poyment in fuil of the said mortgage amount or ony unpaid bolonce thereof, ond to exercise all thc rights and remedies herein or
by law reserved fo said Mortgagee the same os in any eve~t of default hereunder, anything in the promissory note secured
hereby or herein to the co~frary nathwithstanding.
REVENTH: If foreclosure praeedings of any second mortgoge or second trust deed or any junior lien of ony kind should
be institufed, the Mortgagee may, at its option immediately or thereafter declore this mortgage and the indebtedness setured
hereby due and payoble.
TWRFTH: That in the evenl the premises hereby mortgaged, or ony porl thereof, shall be condemned and taken for public
use under the power of emi~ent domoin, the Mortgogee shall have fhe righf to demond thot all damages awarded for the taking
of or damages to said premises shall be paid to the Mortgagee, up to fhe omount fhen unpaid on this mortgage and the obligation
secured hereby and may be applied upon the payments lost parable under this mortgage a~d the obligotion secured hereby.
7HIRTEENTH: That instollments, poyable u~der the terms hereof and the note setured hereby, not paid when due, shall be
subject, after fifteen (15) days from the due date thereof, to, and it is agreed Mortgagee shall collect thereon and therewith, a
"late charge" in the amount of four per cent (4~) of Ihe installment due upon each such delinquenf installment, and such "lofe
charges" are secured by the lien hereof. '
FOURTEENTH: Without impairing the obligations of Mortgagor tontained in poragraphs SECOND, TMIRD and FOURTM
hereof, and for application to the purposes thereof i~sofor as the same sha8 be suificient, Mortgagor shall, in addition to the
i monthly poyments of prirxipal and interest as stated in the originol note (ond in the note o~ notes secured hereby) provided to be
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~ made, pay a monthly sum and amou~t equal to one-twelfth (1'12) of fhe estimated annual taxes, assessments and insurante
~ premiums upon the real estote security, as the amount thereof is determined from time to time by the Mortgagee.
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~ FIFTEENTH: Thot the Mortgagor shall furnish onnually, at the request of the Mortgagee, finan:iol stotements in form ond
~ certified in a manner satisfactory to the Mortgagee.
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~ SIXTEENTH: This mortgage olso secures any and all renewals and extensions of the promissory note referred to herein and
~ secured hereby, and aN installments thereof, and also any other notes which have been or may be given to the Mortgogee br the
~ Mortgagor, and any other i~debtedness of the Mortgagor to the Mo?tgagee which, however, shall not exceed at onr one time
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the aggregafe unpaid prirxipol sum of - - - _ _ - .
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-----THIRTY-SI~i THGUS.AI~?I~ 9ND_N~/lUA------_-_---------- Do~~ars iS 36, 000. IIO-- I.
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~ it being the specific intention thot further odvarxes may be made by the Mortgagee at its option to the Mortgagor, either prior to
or after the due dates of the obove referred to promissory note hereby secured; and this mortgoge is given for fh~ specific
~ p~rpose of securing any and oll indebtedness br fhe Mortgogor to the Mortgagee in whatever manner the same moy be evi-
~ denced or represented, unti~ this mo~tgage is satisfied of record; and..~11 sovenants and agreements contained in this mortgage
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shall be applicable to all further ond future advorxes made by the Mortgagee to the Mortgogor and all other indebtedness of
Mortgagor to the Mortgagee, and any ond all renewals or extensions thereof.
Seventeenth: This'Nlortgage Deed and the l~ote it secures shall be construed only
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under the la~vs of the State of Florida.
Eighteenth: This ~Iortgage is subject to all the terms of a Construction Loan
Agreem~nt, of even date, the same as if said Agreement «>as set out herein in full.
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