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Home My WebLink About1701 ~ncome, proFits, isiues a~d ?evenues ore hereby mortgaged as if specifically set forth and descr~bed in the granting cnd hobendum clauses hereof, o~d suth rete~ver sholl hove aii the broad and effective fvnctions and powers in any wise e~trusted by o tourl to 0 reteiver, ond such appointment sholl be mode by such cpurf os an admitted equily and a mofler of pbsolute righf in the Mottgogee, and without ~eference to the adequocy o? inadequacy of the volue of Ihe property morfgaged, or to the solvency or insolvency of the Mo?lgogo? and/or the defendant ond such rents, profits, income, issves ond revenues shall be opplied by fhe receiver occording to fhe lien a~d~or equify of this mortgage ond the pracfice o~ suth tourt, ond such appoinfinenf of reteiver shall be withouf notite to any obligor hereunder. NINTH: The Mortgogor hereby waives oll r~gh~s of homesteod and exempt~on gronled by the Cons~itution ond laws of florido. It is specifically ogreed thot time is of the essence in this controct ond thot ~o waiver by the Mortgogee of ony obligotion hereunde~ or of the obligotion secured herebr sholl at ony time thereafter be held to be o waiver of the ?erms hereof pr of fhe obligofion sec~red hereby. TENTH: Upon any sale, fransfer or conveyance of the property herein dexribed ond covered by fhis mortgoge to any person, firm or corporotion, not previously opproved in w~iting by fhe holder of this mortgoge, the Mortgagee or holder shotl hove thc right to occelerate the moturity of this mo~tgage as though it we~e due and payabte on the day oF such tronsfer ortd to demand poyment in full of fhe said mortgoge omount or any unpaid bolonce thereof, and to exercise a!1 the rights ond remedies herein or by low reserved to said Mortgogee the some as in ony event of defoutt hereunder, ony~hing in the promissory note secured hereby or herein to the contrary nothwithstonding. ELEVENTH: (f forettosure proceedings of ony second mortgage or setond frust deed or eny junior lien of ony ki~d should be instituted, the Mortgogee mor, ot its option immediotely or thereofter declare this mortgage and the indebtedness secured hereby due ond poyoble. TW~FTH: That in the event the premises hereby mortgoged, or ony port thereof, shall be condemned a~d taken for public use vnde+ the power of eminent domain, the Mortgagee shcll hove the right to demand thot all damages owarded for the toking of or damages to said premises shall be paid to the MortgQgee, up to the amount then unpaid on this mortgoge and the obligation setured hereby and may be apptied upon the poyments last payable under this mortgage and the obligation secured hereby. THlRTEENTH: That instoltments, poyable under Me terms hereof ond the note secured 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 ond therewith, a "lote chorge" in the omount of four per cent (4~) of the instollment due upon each such delinquent instatlment, ond such "lote charges" are secured by the lien hereof. FOURTEENTH: Without impoiring ihe obligotions of Mortgogor confoined in parographs SECOND, THIRD and FOURTH hereof, ond for applicotion to the purposes thereof insofar os the some shall be suf~icient, Mortgago~ shall, in addition to the monthly parments of principul ond interest os sfoted in the original note (ond in the note or notes secured hereby) provided to be made, pay a monthly sum ond amount equal to one-tweifth f 1/12) of the estimated annual taxes, assessments and insurence premiums upon the real estote securify, os the amount thereoF is determined from time to time by the Mo?tgagee. FIfTEENTH: That the Mortgagor sholl furnish annually, at the request of the Mortgagee, finan,iat stotements in form ond certified in a manner sotisfactory to the Mortgagee. SIXTEENTH: This mortgage also setures any and all renewals and extensions of the promissory note referred to herein and secured hereby, ond all installments thereof, and olso ony other notes which have been or may be given to the Mortgagee by the Mortgogor, and any other indebtedness of the Mortgogor to the Mortgagee which, however, sholl not exceed ot any one time ~I the aggrtgate unpaid principol sum of---_-------------------------------------------------- i ------_-_--TI-~IIzTY THOUSAND AND NO/100----------------- po~~an 30, 000. 00 ~ - - _ _ it being the specific intention that further advarxes may be made by the Mortgagee ot its option to the Mortgagor, eithe~ prior to ; or after the due dafes of the above referred to promissory note hereby secured; and this mortgoge is given for the specific purpose of securing any and all indebtedness by th~ Mortgagor to ihe Mortgagee in whatever manner ttee some may be evi- denced or represented, until this mongoge is satisfied of record; and all covenants ond agreements con~a+ned in this +nortgage shall be applicabte to all further ond future advances made by the Mortgagee to the Mortgagor and oll otber indebtedness of Mortgogo~ to the Mortgagee, and any ond al! renewals o? extensio~s the~eof. Seventeenth: This ~4'Iortgage is subject to all the terms of a Construction Loan Agreement, of even date, the same as if said Agreement ~vas set out herein in full. ~ r r ~24 F{1~ ~~1; V F""t -3- ~1 "*K~ _ ~ ~ : _ i-'~ai~~.~ }v '^S .3 .C,~ . z''~ _ . ~ -UA." ~h ..~s ~sx~ ~ _ ,__v, ~6~~.~?=~~` 7'E y"E-~ ° ~ ~ _ ,