HomeMy WebLinkAbout2516 and powexs permitted under the laws of Florida. The expenses,
inclu~ing receiver's fees, counsel fees, costs and agent s compen-
sation, incurred pursuant to the powers herein contained shall be
secured hereby. The right to enter and take possession of said -
property, to manage and operate the saine, to collect the rents,
issues and profits thereof, whether by a receiver or otherwise,
shall be cumulative to any other right oz remedy hereunder or
afforded by law, and may be exercised concurrent therewith or in-
dependently thereof. "Lender" shall be liable to ac~ount only
for such rents, issues and profits actually received by "Lender",
whether received pursuant to this Paragraph 2.04 or the preceding
Pa ragr aph 2.~3 3•
2.05 "LENDER'S° POWER OF ENFORCEMENT. If an Event of Default
shall have occurred and be continuing, the "Lender" may, either
with or without entry or taking possession as hereinabove provided
or othexwise, proceed by suit or suits at law or in equity or by
any other appropriate proceeding or re~edy (a) to enforce payment
of the note or the performance of any term hereof or any other right,
(b) to foreclose this mortgage and to sell, as an entirety or in
separate lots or parcels, the Mortgaged Propzrty, under the judgment
or decree of a court or oourts of competent jurisdiction, and (c)
to pursue any other remedy available to it, all as the "Lender"
shall deem most effectual for such purp~s• The "Lender" shall
take action either by such proceedings or by the exercise of its
powers with respect to entry or taking possession, as the "Lender"
may determine.
2.06 LEASES. The "Lender", at the "Lender's" cYt~o:~, 3s
authorized to foreclose this mortgage subject to the rights of any
tenants of the t4ortgaged Property, and the failure to make any such
tenants parties defendants to any such foreclosure proceeding and
to foreclose their rights will not be, nor be asserted to be by
the "Borrower", a defense to any proceedings instituted by the
"Lender" to collect the sums secured hereby, or any deficiency re-
maining unpaid after the foreclosure sale of the 2iortgaged Property.
, 2.07 PRINCIPAL AND INTEREST BECOME DUE ON SUIT. Upon commence-
; ment of suit or foreclosure of this mortgage, the unpaid principal
; of the note, if not previously declared due, a}~d the interest ac-
~ crued thereon, shall at or~ce become and be immediately due and
!
~ payablP. ~
~ 2.08 PURCHASE BY "LENDER". Upon any such foreclosure s ale, pur-
~ suant to judicial proceedings, the "Lender" may bid for and purchase
the Mortgaged Property and, upon compliance with the terms of s ale,
~ may hold, retain and possess and dispose of such property in its
own absolute right without further accountability.
2.09 APPLICATION OF INDEBTEDNESS TOWARD PURC~iASE PRICE. Upon
any such foreclosure sale, pursuant to judicial proceedings, the
"Lender" may, if permitted by law, after allowing for the proportion
of the total purchase price required to be paid in cash for the co~ts
and expenses of the sale, com}~ensation and other cnar~es, in paying
the pur'chase price, apply to the purchase price any portion of or all
sums due to the "Lender" under the note and this mortgage, in lieu
of cash, to the amount which shall, upon distribution of the net
~ proceeds of such sale, be Qayable thereon. ~
~ 2.10 WAIVER OF APPRAISEt~iENT. VALUATICIN, STAY, EXTENSIO~~1 AND
~
~ REDEMPTION LAWS. The "Borrawer" agrees to the full extent permitted
~ by law, that in case of a default on its part hereunder, neither the
~ "Borrower" nor anyone claiming through or under it shall or will set
~ up, claim or seek to take advantage of any appraisement, valuation,
stay, extension or redemption laws now or hereafter in force, in order
to prevent or hinder the enforcement or foreclosure of this mortgage,
or the absolute sale of the property hereby conveyed, or the final
and absolute putting into possession thereof, immediately after such
sale, of the purchasers thereat, and the "Borrower", for itself and
all who may at any time claim through or under it, hereby waives
to the full extent that it may lawfully so do, the benefit of all
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