The URL can be used to link to this page

Home My WebLink About2137 i . and ~+awer to gra~t such extensiuns to lhe makers of the notcs hereby srrured as s•rid mortg~gee may dcem advisable, without first obtainiag the conseat ot any othe~ persoa liable for seid debt. whether primary or seconJary, aad to take such renewals ot the aotes and debt hereby secured as said mo~tgagee may deem advisabla, w•ithout Cust securing the consent of any other person liable for said indebtedness. No delay ia~the en[orceme~t by the mortgagee of any of the rights of said mortgagee arising by virwe of this mortgage deed and promissory notes hercby securcd shaU operate as a relcase or diuharge of any person liable for t6e debt hereby secured. whether primary or secondary. 13. In the evcrt: of the rtortgagor's default in the {+erformance of any of the tcrms and provisions of this mortgage or the promissory notes hereby secured, the I?tortgagor irrevocably appoints the Mortgagee or its representative as the agent of the I~lortgagor tor the following purposes: (a) to enter upon and take pocsession of, for the account of the 1lforlgagor. the mongaged premises and property hereby encumbered (including but not limited to the rents, pro6ts and i~come accruing therefrom) until such time as said pro~+erty, including rents, profits and income, is taken into actual custoJy by the court as provided in Paragraph 11 hereof, and out of such rents, profits and income to pay all obligations of Ihe Mongagor as he~cin defined, ia the order which the I?tortgagee may determine; such acts of the 1?tortgagee shall not be construed as a waiver of detault or atoppel against the Mortgagee to eaercise all other rights and privileges herein conferred upon the INortgaga; (b) to take possession of all tangible personal property hereby encumberrd for the account of the Mortgagor. and pro~~ide for the slfekeeping o[ the same until such time as said property is taken into actual custody by the court, as provided in Paragraph 11 hereof. All costs and expeases thus incurred by the I?lortgagee shall be paid by thc l~lortgagor and secured by the lien of lhis mortgage. _ 14. In the event the jurisdiction of the U. S. District Court shall be iavoked by or against the mortgagor under any o[ the Chapters or provisions of the Chaadler Act (11 USC). such action, whether voluntary or involuntary on the part of the mortgagor. shall automatically, without notice. accelerate the maturity of all sums of money herein described and securcd, and the same shall thereupon become due and payable forthwith as fully as if the said aggregate sums of money were originally stipulated to be paid on such debt. Such court upon mere motioo of the mortgagee shall forthwith without delay prooaed 'm a summary manner (the most e~peditious way allowabic by General Order 18, li USC 94(a)(4)) to seU the property herein encumberea and appiy the procec~is ot such sale in sali~iaction ot tne debt hercby secural, and if s~ch proceeds be insuf5cient to discharge such debt. the mortgagee shall have the right to participate in the distribution ot other asstts of the mortgagor. IS. The morigagor agrees that it will not directly or indirectly. voluntarily or involuntarily, sufter. allow or permit I any coasensual or nonconsensual or statutory or judicial lien to attaeh to the real, personal or intangible personal property hereby encumbe:ed by this mortgage deed. I 16. In the evcnt the real property encumbered by this mortgage shall be wholly or partially taken by the utilization of power of eminent domain, such taking shall automatically without notice mature the entire debt hereby secured, and the ~ compensation awarded the owner ia such proceedings shall be paid to the biortgagee and applied pro tanto in payment of the principal. interest, expenses and reasonable counsel fees due the 111ortgagee as herein provided. ~ 17. 'Il~e debt evidenced anci secured by this mortgage deed is also evideoced by promissory notes more particularly i described at follows: f REAL ESTATE INSTALLM~IT NOTE Fort Laudendale, Fforids I~ISrC21 19 , 19~ ~ s 160 ~ 00~ ~ ~0 Wr v~lue rooeived the undarsipned (and if more tb~n one, each of them jantly and swerally), herein~ftet ulied Maker, p~omis~s to pay ro tM ord~r of BROWARD NATIONAL BANK OF FORT LAUDERDALE ' , hemin~fter called Bsnk, ~ # at its offios in Fort lauderdale, Hwids, the princips) wm of ~ . I ~ t/la~ YW-{Y~ ~~V~Y ~/~OV-~~~N~~~~~~~r~~M~~~~~~~~N~~~~~~~DC~ILAQS - ~ ~ togethe? with intaesf ther~on from M~• 19 i 1975 d fhe rits of g Pe+ceM Per snnum. TM prinap~l sum, to~fh~t with I~terest, ~ ~ shell be piysW~ ie 6 ~ iratallments of TU1@Aty~s~7[ ~LOU~~1C~• rSi.X ~~11Ad1'@C~ ..ti'~]CtS/~.5~]C all~ ; • lua ~ : 26. b66.00 ~ ~~.~t~, ~ aay ~ Marrh , ~9_3~. ~ March ~ and oontinubg on th~ day of eacfi ~RY~ thereaker ur~til ths prirxip~l and interest arc fully paid. le tM event any irot~Prr~t d principal a imerat is not paid within 15 days after the ssrne beoomes due, the wf:de of ssid agprepate indebtedness ~ nereby evidenced shall forthwith at ekdion of the bank, withoul notice, become d~e and psyabk. In the event of ~ny stteleration of the matwity of the aggregats indebtedn~ss, iMerest st the highest rate altowable by Isw withovt violating uwry laws shall be comp~ted u~d be roqvired to be psid on ~ the u~sid apyreyde printipd and interest aocrued at time of aoceleration urMil the ssme is paid No delsy by the payee or hofder of this nols i~ enforcing the terms hereof shall ever be wnstrued as e waiver of his, her or its rig to s~orce the ssme. The debt evFdenced by tha note, havirg ~ once been aocelewted by raaso~ of defauh, ca~veot be decelerated, save and except ( a~ indrvment in writing exacuted w~dtr teal by the holder ~ ~ this note snd alw supponed by independent 9ood and valwble consideratan. tance by the F~older of this nott of part paymsnt or part ~ performanos stull rat be msted u a?ring any defavlt, nor shall operat s an estoppel or wsiver. r Said Bank is Fwnby ~cpressly authorized to retain sny al or al deposit, Iataal, real or personal security or proceads thcreof, b~{orginp ro the vndersigned, w any e+~dwser heroa~, oow w hereaft ssi ssid Bank dwing tfi~ tima this note remains unpaid, a~d b~fore w~ftK ~ matur;ty spply wrtw to this or other debt or I' 'lities d to dus the hold~r of this note. The maken snd endorsers of this not~ henb~r g~ve said Bsnk ful) avthaity to u~ll, i~ the m~ pr ' law, any wch coltateral and u?y otMr collaferal at sn tims y pkdpa! to :ea,re ~c thia rwf~. NOW, ~hould it become nsassary ro oollect note through an ettorney, either of w, whetha maker a endorur on tF~a note, h~reby agrees to pay al) oosts of sucfi oollection, includic~ s rea le attorneys' fes. All maken, endorsers snd other puties liabk htreon sevaslly wsiv~ pra~r~t- - , mems, protest snd notia of di~F~orar, ~nd oonsenf th~t tinw of payment may be extended without natice tfierwf. ~ Tlw mskan ~nd endasers, ~nd aU persons who have as:umed the obligstion to p~y this p~omissory note, do Mreby oertify, wur~nt u~d ~ repraertt unto the payes and holder of tha note, as followr. (a) That all thirKp roq~ired by I~w to be had and don~ and steps tsicen in adar to ~ maka this ~ vslid oblip~tion have been had, talcen and done; (b) That the debt evidenad hereby u+d thi: promissory note ii s valid wbsining dsbt u~d - neQoti~ble promis~wy ratet Th+t th~ msken and the endorxn and atl penons who haw assws+~d the obligation to p~y this promiaory nwe have ~ no defense ayainit th~ ~nforcemem of this promissory note; ihat the Coun, without the interventio~ of a iury, upon a motion for summ~ry iudpsmant or decres, may determirw s~d adjudicat~ all sums of mor~ey her~under, ind ut limited to princi I i terest at ~ ~;1~~.~ ~.n .~,a wn...Xw~s• T'hia note may~ prepa~w~o~y or in ~~ir~: wi~io` u~ p`e°`~l~' ~ ~ a~~ = vemue r. arence . aax Fort Lauderdale, Florida 33312 _ Addres+ r~ • March 19, 1976 and annua~lly '.3 Due s~.~-»a BOOK~~ ~ I I 5~ , , ; - _ , , - ,e - . _