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HomeMy WebLinkAbout0585 are hc~reby expressl}~ w~iived; or in the pcrformance of any oF ' Mortg~~~or's oblig~~tions, covcnants or agreements hcreunder, after delivery of fiftcen (15) days noticc of default tliereof; then, all of the indebrcciness ,ecured her.eby shall become and be im- mediatcly due <-~nd oayable at ~he option of riortgagce, in ~ahich event 1•lortgaqee m~y avail itself of all righ~s and r.emedies, at ~aw or in equity, ancl this r.lortgac~e may be foreclosed ~aith all rights and remedies afforded by the la~•~s of rlorida and Mortgagor shall pay all costs, c1iarges and expenses thereof, including a reasonaUle attorney's fee. 13. If detault be made in payment, ~ahen due, of any in- debtedness secured hercby, or in performance of any of tiortgagor's obligation~, covenants or agreer.ients hereunder: (a) Mortgagee is authorized at any-titne, withou~ no- tice, in its sole discretion to enter upon and take passession of the prernises or any part thereof, to perforr.~ any acts T!ort- gagee deer,ts nec~~ssary or proper to conserve the security and to collect and reccive all rents, issues and profits thcreof, in- cluding thosc past due as toell as those accruing thereafter, and (b) tiortgagce shall be entitlea, as a~matter of strict right and_without regard to the value or occupancy of the secur- ity, to have a receiver appointed to enter upon and taice posses- sion of the p're:~ises, collect the rents and profits therefrom and apply the same as the court may direct, such receiver to have all the rights and po~•rers permitted under the la~~s of Florida. In either of such case Mortgagee or the receiver may also take possessioii of , and for these purposes use , any and all per- sonal property contained in the premises and used by Mortgagprl in the rental or leasing thereof or any part thereof. The expense (including receiver's:fees, counsel fees, costs and agent's com- pensation) incurred pursuant to the powers herein contained shall be secured hereby. riortgagee shall (after payment of all costs and expenses incurred) apply such rents, issues and profits re- ceived by it on the indebtedness secured hefeby~-in such order as Mortgagee deterr*mines. The right to enter and take possession of said pro~erty, to manage and operate the same, and to collect the rents, issues and prof its thereof, whether by a receiver or other- wise, shall be cumulative to any other right or remedy hereunder or afforded by lac•~, and may be exercised concurrently therewith or independently thereof. Piortgagee shall be liable to account only for such rents, issues and profits actually received by Mortgagee. ~ 14. If the indebtedness secured hereby is now or hereaf- ter further secured by chattel mortgages, security interests, pledges, contracts of guaranty, assigiir.tents of leases, or other securities, or if the premises hereby encumbered consists of ~ more than one parcel, tiortgagee may at its option exhaust any one or more of said securities and security hereunder, o= such parcels of the security hereunder, either concurrently or inde- pendently, and in such order as it may determine. 15. Upon request of Mortgagor, Mortgagee may, at its sole option, from tir~e to time before full payment of all indebtedness secured hereby, make further advances to t•tortgagor; provided, however, that the total principal secured hereby and remaining unpaid, including any such advances, shall not at any time exceed the principal sur,? of l~n 1•lillion Dollars ($10,000,000.00) . Mortgagor shall cxecucc and d~livcr to ~'.ortgagce a note evidencing each and every such further advance ~1hich t•~orthagee may make, such note to be payable on or hef-ore maturity of- the indebtedness securecl hereby and to contain such terms as 1~lortgagee shall re- quire. Mortgagor shall pay all such furthcr advances with in- 5 800x 225 PACE 584 M[l1BHON, ~AWYl~1. JOHN6TON. OUNWOOY A COL[. IA00 /IRBT NATIONAL ~ANK OUILDINO. MIAMf, rLONIDA »191 . ~ . . _ .r. =r ~~:~k. 3- w - - _ ~ :s . . . _ , , .