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HomeMy WebLinkAbout0355 of the public records of St. 1_ucie County, Florida; and sa:d second mortgage being recorded in Official Record ~3ook 151 at page 240 in the initial sum of . $280, 000. 00 being assigned to Life Insurance Company of Georgia, said assignment recorded in Officia] Record Book 164 at page 1934 of the public j records of St. Lucie County, Florida. That as a covenant to the Mortgagee, ; , ~ the Mortgagor agrees that in the event of default in the payment of any ; ~ payments on this mortgage or said first and second mortgage s:;ove referred to, or upon the default of any of the covenants contained in this mortgage and the first and second mortgage above referred to, that said default will act as a default in all three mortgages, the said entire aggregat e sum mentioned in • i , this mortgage and in said promissory note for which this mortgage is given f ` for security, and the entire aggregate sum mentioned in the first and second ~ I ~ mortgage above referred to and the said promissory notes for which said ~ first and second mortgages were given as security, then remaining unpaid as ~ ~ - ` to the three promissory notes, with interest accrued, shall become due and y ~ ~ . ~ f pa_yable forthwith thereafter at the option of the 1Jlortgagee, its successors - f , or assigns, as fully and completely as if said aggregate sum of both promissa~y ~ notes and mortgages as above referred to and accrued interest were originally ~ ~ ~ ~ ~ stipulated to be paid ~n such day, anything in-said promissory notes herein, to ~ E { the contrary, notwithstanding. i ! ' It is further covenanted and agreed by said parties that ~ in the event of a suit being instituted to "foreclose this mortgage, and the said ; rnortgages referred to in Paragraph 6 above, the Mortgagee, its successors or assigns, shall be entitled to apply at any time pending such foreclosure suit ; to the court having jurisdiction thereof for the appointment of a Receiver of all and singular the mortgaged property, and of all the rents, income, profits, issues and revenues thereof, from whatsoever source derived; and thereupon it is hereby expressly covenanted and agreed that the court shall forthwith ~ appoint a Receiver of said mortgaged property, all and singular, and of such ~ ~ Y rents, income, profits, issues and revenues thereof, from whatsoever saurce derived; with the usual powers and duties of Receivers in like cases; and such # appointment shall be made by such court as a matter of strict right to the ; Mortgagee, its successors or assigns, and without reference to the adequacy 600~( ~ i'AGF - 5 - . ~ _ _ = ~_F~ ~e" . _ , . ~.J.__.. - .