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HomeMy WebLinkAbout2627 income, profits, issues ond revenues ore he~eby mo?tgoged as ~f spec~fKally set forth ond described in the g?anting and hobendum clausei hereoi, ond such receiver shall hove oll the brood a~d effective fvrx~ions a~d powers ~n ony wise entrusted by a court to 0 receiver, ond such oppointment shall be made by svch cour~ os an admitted equity and a matter of absolute right in the Mortgagee, ond withouf ~efere~ce to the odequacy or inodequacy of the volue of the property mortgoged, or to the solve~cy or insolvency of the Mo~tgagor and/or the defendont end such rents, profits, income, issues and revenues shall be applied by the ?eceiver occordi~g to fhe lien and/or equily of this mo~tgage ond the p~actice of such cou~t, and such eppo~ntment of rece~ver :hall ba without norice to any obligor hereunder. NINTH: The Mortgagor hereby waives oll rights of homestead a~d exemption granted by the Constifution and laws of Flo~ida. It is spetifKOlly agreed fhaf fime is of fhe esserxe in this tontrotf ond fhat no waiver by the Mortgagee of ony obligation hereunder or of the obligofion secured hereby shall ot any time thereafte? be held to be a woiver of the terms hereof or of the obligation secured hereby. TENTH: Upon any sole, transfer or conveyonce of the property herein desuibed ond covered by this mortgoge 1o any perw~?, firm or corporalion, not previously approved in writing by the holder of fhis morfgage, the Mortgagee or holde? sholl have the right to accelerate the maturity of this mortgoge os though it were due and poyable on the doy of such•t~ansfer ond to demand poymcnt in full of the said mortgage amount or any unpaid balance thereof, and to exercise all the rights and remedies herein or by law reserved to said Mortgagee the same as in any event of default hereunder, anything in the promissory note secured hereby or herein to the contrary i+oMwithstandi~g. flEVENTH: If forecbsure proceedings of anr second mortgage or second tn,st deed or any junior lien of any kind should be instituted, the Mortgagee may, at its option immediately or thereafter declore this mortgage and the indebtedness setured hereby due and poyable. TWaFTH: That in the event the premises hereby niwrtgaged, or any part thercof, sholl be coedemned and taken for public use u~der the power of eminent domain, Me Mo?tgagee shall have the right to demand thot all damages aworded for the taking of or domages to said premises shall be paid /o the Mortgagee, up to the amount then unpaid on fhis mortgagc and the obligofion secured he~eby and moy be applied upon the poyments lasf poyable under this nwrtgage ond the obligation secured hereby. THIRTEENTH: That installments, parable under the terms hereof and the note secured hereby, not paid when due, sholl be subject, after fifteen (15) days from the due dotc thereof, to, aod it ;s agreed Mortgagee shall collect thereon and therewith, a "lote charge" in the amount of four per cent (4~) of the instaflment due upon each such delinqvent installment, and such "late chorges" are setured by the lien hereof. FOURTEENTH: Without impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD ond fOURTM hereof, ond for applicofion to the purposes the~eof insofar as the same shall be sutfiaent, Mortgagor shall, in addition to the monthly paymenh of printipal and interest as stated in the o~iginal note (and in the nofe or notes secured hereby~ provided to be made, par a monthly sum and amount equal to one-twelfth (1/12) of fhe esfimated orowal toxes, assessments ond insurance premiums upon the real esfote security, as the amount thereof is determined from time to time br the Mortgagee. _ HFfEENTH: That the Mortgagor shall fumish annuolly, at the request of the Mortgagee, Rnarr~ol stafements in form and ~ ce~tified in a manner satisfoctory to the Mortgagee. i ~ ~ SIXTEENTH: This mortgoge elso secures ony and all renewals and extensions of the promissory note referred to herein and secured hereby, and all installments thereof, and also ony other notes which have been or moy be giren to the Mortgogee by the Mortgagor, ond ony other indebtedness of the Mortgagor to the Mortgagee which, however, shall not exceed at any one time the aggregate unpaid principal sum of--"'---'--'_"'--=_=__===--NINE_THO~AND_TH~EE HiiN1~F~Fn FTC`~-iTV-GFVFN_ariCl_CiQ_!-1QQ----_-- -------------~~~n(S - 9r38~,-6A-----1. it being the specifk intentio~ thot furfher advonces moy be made by the Mortgogee af its option to the Mortgagor, either prior to or after the due dates of t~e above referred to promiswry note he~eby secured; and this mortgoge is given for the specific purpose of securing any and all indebtedness by the Mortgagor fo the Mortgagee in whatever manner the same moy be evi- denced or represented, until this mortgage is sotisfied of record; and all covenants and ogreements contained i~ this mortgage shall be applicable to all further and future advanees made by the Mo~tgagee fo the Mortgagor and all otber indebtedness of Mortgagor to the Mortgagee, and any and all renewals or extensions thereof. Seventeenth: This Mortgage Deed and the Note it secures shall be construed only under the laws of the State of Florida. ~ Eighteenth: The Mortgagor shall pay all assessments and levies, including but ` ~ not limited to monthly maintenance assessments and recreation lease assessments levied by the Condominium Association or the Condominium Developer. ~ f ~ ~ _ , ; _ 3 _ aooK 225 2621 _ - ~ - T : _ c~~z~y.:,~. . ~~x ,~~'~~.x `5 tb h : ~ s~~ a - ~ i~- 4* --t ,m _ . ~i._. c._ ~ u__ . .~-ff., . . ~ .