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HomeMy WebLinkAbout2827 income, p~ofits, is:ves ond revenues are hereby mortgoged os if specificolly set forth cnd deu~ibed in the gronting and habendum clauses hereof, and such receiver sholl have aN the brood and effective functions and powers in any wi:e entrusted by o couh to a receiver, and such oppointment shall be mode by such court os an admitted equity and o motte~ of cbsolute ~ight in the Mo~tqage~, ~ and without refe?ence to the odequoty o~ inodeqvacy of the value oi the prope~ty mo~tgaged, or to the solvency or insolvency of ~ the Mo?tgagor ond/or the defendant and such rents, profits, income, issves cnd revenues sholl be applied by the receive? accordin9 i to the lien and/or equity of this mo~tgaqe ond the practice of such court, and such cppointment of receiver shcll be wifhouf notice ~ fo any obligor hereunder. ~ ~ NINTH: The Mortgagor hereby waives all rights of homestead and exemptio~ granfed by the Constitution and laws oF Florida. It is speciFically agreed thot time is of fhe essence in this controct and Mat no waiver by the Mo?tgagee of any obligation hereunder or of the obligation secured hereby shall ot ony time thereofter be held to be a waiver of the terms hereof or of the obligotion secured hereby. TENTH: Upon ony sale, tronsfer or conveyance of the proper~y herein described and covered br this mortgage to any person, firm or corporo~ion, not previously app~oved in writin~ br Me holder of this mortgage, the Mongagee or holde~ shall have the right to auelerate the moturity of this mortgage as though it were due ond poyable on the day of such tronsfer a~d to demand payment in full of the said mo~tgage omount or any unpoid bolonce fhereof, ond to exercise all the rights ond remedies herein or by law reserved to said Mortgagee the some as in any event of defeult hereunder, anything in the promissory note secured hercby or herein to the cont~ary nothwithsfandi~g. QEVENTH: If forecbsure proceedings of any second mortgage or second trust deed or any junior lien of any kind should be instituted, the Mortgagee mar, ot ih option immediately or thereofter declare this mortgage and the indebtedness secured hereby due and payable. ~ TWQFTN: That in the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public use vnder the power of eminent domain, the Mortgagee sholl hove fhe right to demand thot all domages awarded for fhe taking of or domages to said premises shall be paid to the Mortgagee, up to the amount then unpaid on this mortgcge and the obligation secured hereby and may be applied upon the poyments last payable under this mortgage and the obligation secured hereby. TMIRTEENTH: That irutallments, payable under the tem~s hereof ond the note secured hereby, not paid when due, shall be subject, after Rfteen (15) days from the due date thereof, to, and it is agreed Mo~tgagee shall collect thereon and therewith, o "late charge" in the amount of four per cent (4~) of the instellment due upon each suth delinquent irutallment, and suth "~ate charges" are secured by Me lien hereof. FOURTEENTH: Without impoiring the obligations of Mortgagor contained in peregraphs SECOND, THIRD and fOURTH hereof, and for applicotion to the purposes thereof irnofar os the same shall be sufficient, Mortgago~ shall, in addition to the monthly payments of principal and interest as stated in the originol note (end in the note or notes secured hereby) provided to be made, par o monthly sum and amount equal to one-hnelfth (1/12) of the esNmated annval taxes, osussments ond inwrance ~ premiums upon the real estate securify, as the amount thereof is determined from time ro time by the Mortgagee. i ~ HFTEENTH: That the Mortgagor shall fumish aruwolly, at the request of the Morigagee, flnan~ial stafeme~ts in form and E certified in a manner satisfodory to ihe Mortgagee. SIXTEENTH: This mortgoge also secures any and all renewals and extensions of fhe promissory note refer~ed to herein and secured hereby, and all instollments thereof, and also any other notes which have been or may be given to the Mo~tgagee by the Mortgagor, and anr other indebtedness of the Mortgagor to the Mortgagee whi:h, however, sholl not exceed at any one time the agg~eAate unpaid principal wm of - ------FOUR THOUSAND AND NO/100----------------=_~~an (s__ 4, 000. 00 it being the specific intention thot further advances mar be made by the Mortgagee at its option to the Mortgagor, either prior to or aher the due dates of the above referred to promissory note hereby secured; and this mo~tgag~ is given for the specific purpose of securing any ond all i~debtedness by fhe Mortgogor to the Mo?tgagee in whatever manner the same moy be evi- denced or represented, until this mortgage is satisfied of ~ecord; and all tovenants and agreements contained in this mortgage sholl be applicable to all further ond future advonces made by the Mortgagee ro the Mongagor and all other indebtedness of - Mo~tgogor to the Mortgagee, and any and otl renewals or extensions thereof. ~ Seventeenth: 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. ~ P i . 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