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HomeMy WebLinkAbout0251 income, profi~s, ~ss~as o~~d re.e~~~es cre t~e:eby mortgcgc~ as spt!+~KO~~y st~ fpr~h and desn+bed ~he 9?anting ond Aobendum clbuses hereof, and such receiver sholl hove ail the brood ond eifective func~ions and powers any wise enfrusled by a tOU?f to a receiver, ortd such oppointment sholl be mode by such court as on odmitfed equity and o mette? of absolute right in the Mortgagee, and without referrnce to the odequocy or inadequocy of the valve of fhe p~operty mortgaged, or to the solvency or insolvency of the Mortgogor and/or the defendont ond such rents, proFits, irxome, issues and revenues shall be applied by the reteive~ ottording to fhe lien and~or equify of fhis morigoge ond fhe prattice of such tourf, ond suth appoinfineM of reteiver sholl be wifhout nofite fo ony obligor herevnder. NINTH: The Mor~gagor hereby waives oll rights of homestead and exemption granted by the Constit~tion and lows of Florida. It is specificoily ag?eed thot time is of the essence in this controct and that no woiver by the Mortgogee of any obligotion hereunder or of the obligation secured hereby sholl at any time ihereofter be held to be o waiver of the ferms hereof or of the obligation secured hereby. TENTH: Upon any sole, fronsfer or co~veyonce of the prope?ty herein described and covered by this mortgage to ony person, firm or corparotion, not previously opproved in writing by the holder of this morrgage, the Mortgogee or holder shall hove the right to accelerote the maturity of this mortgage as though it were due and poyable on the doy of such tronsfer and fo demond poyment in futl of the said mortgage amounf or any vnpaid bolance thereof, and to exercise ol~ the rights and remedies herein or by law reserved to said Mortgogee the same as in ony event of defoult hereunder, onything in the promissory ~ote secured hereby or herein fo the tonfrary nafhwifhstanding. ~EVENtH: If forecbsure proceedings of any second morfgoge o? second frust deed or any junior lien of ony kind should be institufed, fhe Morfgagee moy, ot its option immediafely or ihe?eafter declare Mis mortgoge and fhe indebtedness secured hereby due and payable. TWELfTH: That in the event the premises hereby morfgoged, or any port thereof, shall be condemned and taken for publit use under the power of eminent domoi~, the Mortgagee sholl hove the right to demand fhat all damages awarded for the taking of or damages to said premises shall be poid to fhc Mortgagee, up to Me amount then unpaid on this mortgage and the obligation secured hereby and may be applied upon the payments lasf poyoble under this mortgage and the obligafion secured hereby. THIRTEENTH: Thot installments, payable under the te~ms hereof ond the note secured hereby, not poid when due, shall be svbject, after fifteen (1S) doys from the due dafe thereof, to, end it is agreed Mortgagee shall collect thereon and therewith, a "tote charge" in the omount of fovr per cent (4~0) of the instollment due upon each such delinquent installment, ond such "late charges" are secured by the lien hereof. FOURTEENTH: Without impairing the obligations of Mortgagor contained in parographs SECOND, THIRD ond FOURTH hereof, and for application to the purposes thereof insofor as the same shall be suffiicient, Mongagor shall, in addition to the monthly payments of principal and interest as stated in the original note (and in the note ar nofes setured hereby) provided to be made, pay a monthlr sum and amovnt equal to one-twelfth (1/12) of the estimated annual taxes, a:sessments and insuronce f premiums upon the real estate security, as the artaunt thereof is determined from time to time by the Mortgagee. ~ ~ ? FIFTEENTH: That the Mortgagor shall furnish annually, at the requesf of the Mortgagee, finantial stafements in form and 1 certified in o manner satisfactory to the Mortgagee. ~ ~ SIXTEENTH: This mortgage alw secures any and all renewals and extensions of the promissory note referred to he~ein and ~ secured hereby, and all installments thereof, ond also any other noles which have been or moy be given to the Mortgagee by the ~ Mortgogor, ond ony Qther indebtedness of the Mortgogor to fhe Mortgagee whith, however, shall nof exceed af any one time t ~ ~j --.--------r-------------r the aggregate unpaid principal sum of _ ~ r ~ ---TWEDITY_AI1~_T~iQUSADIII--AND--i~IQf 1QQ---=--------_------. _ Doltars (S 21, G00. 40-------- 1. ~ if being the specific intention that further advarxes mar be made by the Mortgagee af ifs option to fhe Mortgagor, either prior to ~ or after the due dates of the obove referred to promissory note hereby secured; ond this mortgage is given for the specific ~ purpose of securing ony and all indebtedness by fhe Mortgagor to the Mortgagee in whatever manner fhe same may be evi- denced or represented, until this mortgage is sotisfied of record; and all covenonts and agreeme~ts contoined in this mortgage shall be applicable to oll further and future advances made by the Mortgagee to the Mortgagor ond all o~her indebtedness of Mortgagor to fhe Mortgagee, and any and oll renewals or extensions thereof. ~ ~ _ SEVENTE~:iITH: This -M~tgaye is subject to all the terms of a Construction ; r{ Loan Agreement, of even date, the same as if saiu agreement was set out herein ~ in full. z:~~ q~ BOOK ~J~ PA~' ~tJV < -3- ~ ~ ~ r - 4 Y , : . . . ~ " r ,~'s ..y ~ P ~ ~ ~ .+.~Irc~'" . ~ y~.'... a ~ ~ . . . ~ i _ _ c..»~_ ~A'~3~.~.