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HomeMy WebLinkAbout2686 mcome, profits, issves a~d ?evenues ore he~eby mo+tgoged os ~f specifically se? forth ond described i~ the gronting ond hobendum clau:es hereof, ond such rece~~er ihall no~e all the b?oad and effec~ive funuions and powers ~n any w~se en~?usted by o covrt to 0 reteiver, ond such oppointmer,t sholl be made by such courl os an odm~tted equity ond o motter oi obsolute right in the Mortgogee, ond wifhpuf reference ro the odeqvacy or inadeqvacy of the va~ue o~ fhe prope?ty morlgoged, or to fhe solvency or insolverxy of the Mortgagor ond/o~ ~he deFendont and such ?ents, profits, ~ncome, ~ss~es ond revenves sholi be oppiied by ~he receiver attording to the lien ond or equ~ry of ?h~s mortgoge ond the practice of iuch court, ond such oppo~ntment of rece~~e? sholl be withouf ~?otice to ony obli4o? he~r~nder. i NINTN The Mo?rgaga? he?eby wo~ves all ?~ghts of homesteod and exempnon gronred by the Constitution and lows of J florido. It is specifitally ogreed that t~me is of the esserue in lhis tontract ond fhot no wa;ver by the Mo?tgogee of ony obligotion hereunder or of the obl~gono~ secvred hereby sholl at any t~me thereafter be held to be a waiver of the te?ms he?eof or of the obligotion set~red hereby. TENTH: Vpo~ ony sule, tronsfer or convevonce af the property he.e~n descr~bed and covered by this Mortgoge to ony person, firm or corporofion, whose c~ecfrt-..orthiness hos not been opproved ~n wr~ting by the holder of this Mortgoge, the Mortgogee or holder sholl hove the nght, et its sote optlc~, to occelerote the moturity o( th~s Mortga~e os though it were due ond poyebfe on the doy of stxh tronsfer, if upon notice of soiA transfe., the Mortgogee or holder hos good reoson to betieve thot the seturity . of the Mortgogee or holder hos been hormed or ploced in ~eopordy. The Ba~k shall rece~ve o complete current finonciol stote- ment in o form ond presentotion satisfoctory to the Bank. ELEVENTH: If foreclosure proceedings of any second mortgage or second tr~st deed or any junior I~en of ony kind should be insfituted, ihe Morfgagee moy, ot its option immediotely or fhereaffer detlare this mortgoge and the indebtedness setured hereby due and poyable. TWELFTH: Thot in the event the premises hereby mortgaged, or ony part thertof, shall be tondemned and foken for public use under the power of eminent domain, the Mortgagee shall have the right to demond thof oll damages awarded for the taking of or demoges to said premises sholl be paid to the Mortgagee, up to the omounf fhen unpaid on ~his mortgoge and the obligofion secured hereby ond may be opplied upon the poyments lasf payable under this mortgage and the obligotion secured he~eby. THIRTEENTH: That instollments, poyable under the terms hereof and the ~ote sec~red hereby, not paid when due, shall be subjecf, ofter fifteen (15) days from the due date fhereof, to, and if is ogreed Mortgogee sholl collect fhereon and fherewith, o "lafe chorge" in fhe amount of four pe~ cent (4~) of the installment due upo~ each such delinquent instollment, and such "late charges" are secured by the lien hereof. FOURTEENTH: Without impairing the obligations of Mortgagor contoined in parographs SECOND, THIRD and fOURTH * hereof, ond for appiicotion to the purposes fhereof inwfar os the same shall be suRicient, Mortgagor shall, in oddition to ihe monthly payments of principel and inferest as stated in the originol note (and in fhe note or nofes secured hereby) provided to be made, par a monthly sum and amount equol to one-twelfth (1 ! 12) of the estimated annuol toxes, assessments and insuronce premiums upon the reat estate security, os fhe omount thereof is determined from time to time by the IfAortgagee. FIFTEENTH: Thot the Mortgogor shall furnish annually, ot the request of the Mortgogee, finoncial srotements in form ond certified in a monner satisfactory to the Mortgagee. ~ s SIXTEENTH: This mortgoge also secures any and oll renewols ond extensions of the promissory note referred to herein ond ; secured hereby, and oll installmenfs fhereof, and also any other nofes w1iKh hove been or moy be given to the Mortgogee br the Mortgagor, ond any other indebtedness of the Mortgogor to the Mortgogee which, however, sholl not exceed ot ony one time ; the aggregote ~npaid prirxipol sum of F~~ `~~~~1a dI1C~ ri0~1~0 ($40~~~~.~~)-~--__ i. ~ _ - - - - - _ _ ~ ~ t - ~ ---~otlars (S 40~000.00 - . - - - 9 9 P ~ ~t be~ng the specifK intention that further odvances mar be made by the Mortgogee at its option to the Mort a or, either rior. to 3 ; or ofter the due dotes of the above referred to promissory nofe hereby setured; and fhis rr~~rtgoge is given for the specific ~ E purpose of securing o~y and oll indebtedness by the Mortgogor to the Mortgogee in whafever manner the some may be evi- ~ ~ denced or represen~ed, until this mo?tgoge is satisfied of record; ond ell covenants and agreements contoined in this mortgage ~ i sholl be opplicable to oll further and future advarxes made by the Mortgagee fo fhe Mortgagor and all other indebtedness of ` Mortgogor to the Mortgogee, and anr ond all re~ewals or exfensions ihereof. ~ i ~ , ~ k i `t ; . < i S Boox 238 P~2680 ~ -3- ~ ~ t ~ ya z ~t~ ~ .z :i II x l~ t~~~i~ ~ ~N ~•r ~ . .,,p ' ~ ~"G"~~i~` ' k~ _ . . , x` - . . .