HomeMy WebLinkAbout0235 mccn?~, prof~ts, issves and revenue~ o.e h~~eby n+ort9o9ed os if ~pttificolly sef forth ond destrib~d i~ th~ 9ronlioq a~d ~ob~ndwn
clavses A~reof, and such receiver sholl hcve oll ~he brocd and •f(~cfive functioni ond pow~n in any wii~ tn~ru~t~d by o court 1o a
~ec~iv~~, ond such appoin~ment ihall be mcde br ivch tou~~ ai on odmitted equitr ond o n~ctte~ o~ cbiolut~ ~ipht i~ the Mohqo9~~,
ond without reference to the adequacy o? inadequacy of M~ va~ueaof Me prOpe~tr tnO~fpoQed, or to the so~v~~+cr or insdv~nc~r of
the Mo?tqapor a~d/or the deFendont ond such rents, profits, incom~, issuet ond ?tvenv~s shall b~ opplied by fh~ rKtiv~r atcordin9
to the I~en and~or equity of this mohqoqe ar?d Me proctic~ of such tou?t, ond such oppointment oF rece~~e? sholt b• without notic~
fo cnr obli~or he•eunde~.
NINTH: The Mortyago? Aereby woives otl ~iyl+t: of homesteod ond exempiion pronted by the Const~tution ond laws of
florida. It ~s spec~fKOur o9~eed ~r+a? r~,n~ is of the essenc~ in this tontratt o~d thot no woive~ by Me Mortpo9ee of ony obli9ation
he~eunde~ or of the obligotion secured hereby sAall ot ony time Mereofter b• held to be o woiver of Me terms hereof o? of the
obliqotion secured hereby.
TENTH: Upon ony sote, tro~sfer or convtyonte of the p?operty herein destribed ond cavered by this Mortpoqe ro ony
pe.son, firm a torpaotior+, wFase credit-wo?thineu hos rrot been opproved in writinp by the holder of this Matpope, the Mat~o~ee
or holdcr sholl hove the ri~ht, ct ih sok option, to occelerote the mosurity of this Mwt~e as thouph it were due ond poyablt
on the ~oy of such tronsfe~, if upon notice of soid tronsfer, tM Mwtpopee or holde. hos ~ood reoson to believe that the secu?ity
of the Mwtgo~ee w Fw~de~ hos bee~+ ho?^xd w Ploced i^ IeopordY. TF+e Bonk sholl receive o complete twrent finonciol stote-
ment in o fwm ond presentotion sotisfoctory to the Bo~k
BEVENTH: If foreclosure proceedin9s of anr second na?fqa~e or sacood t?ust d~ed or any junior lien of oey kiod slwuld
be instituted, the Mortyaqee mor, ot ih pption immedialely or Mereafter dedore this nan~ope a~d the indebtedness sacured
hereby due and poyuble.
TWaFTH: That in the event the premises hsreby tnort~a9~d, or anr port thereof, sholl be wnelemned and taken for publit
use under the power of eminent damoin, the Mon~aqee shall hove the ri~ht ro deinand that oll domo~es owarded for the takinp
of or dama~es to soid premise: sholl be paid to the Morfqopee, up to Ihe anaunt then wnpaid on this mort9a~e ond fhe obli~ation
secured herebr and moy be applied upon the parments last poyable und~r Mtis moAqeqe and Ihe oblipotion secv~ed h~rebr.
THIRTEENTH: That iRStallments, poyable w~der the temis hereof ond the note secured~hereby, oot paid when du~, shall b~
subject, ofter fiheen (1S) days from the due data the~eof, fo, a~ it is a9reed Mo~t~o~ee sl+all collact thereon and therewith, a
"late thar~e" in the onwunt of four per cent (4~) of the instollment dw upon _eoch wc~h delinquent i~tollment, a~d wth "late
chorqei ' are setured br 1he lien hereof.
FOURTEENTH: Without impairi~ the oblipotions of Mort~a~o? oontained i~ paro~rophs SECOND, THIRD and fOURTH
hereof, ord for appiication to the purpeses th~reof insofo? as the same shall be wtfici~nt, Mortpo~o? shall, in oddition to fhs
monMdy pormenfs of principal and infe~est os stated ie the ori~inal nofs (and in fhe note or notes sewred herebyl Provided ro be
mode. Pay o montNy wm and omount equol to one-twtlfth (1/12) of the estinwttd amuol taxes, atsessmenfs ond i~wanct
, premiwns upon the real estate searit~r, as ths anaurK Mereof is dete?mined fran time to time br ths Mo~t~aqee.
HFTEBdTH: That the Mo?tgagor shall fumish amuallr, at the reqvest of the Mort~agee, fl~an:ial stofements in forrn and
certified in o manne? satisfactory to the Mortqoqee.
SIXTEENTH: This nwrt~age also sea?es cnr and all ren~wcls and ext~raio~s of the promissory nore referred b herein ond
I secured herebr, and all i~stollments thereof, and olso ony other notes which have been or may be given to the Mo~tqoqee by fhe
f Mortgagor, ond onr other indebtedness of fhe Mo?tpa~or fo fhe Mort~a~ee which, however, shall not exceed at onY one time
E F~RZR TfiOIJSAND Ai~ID NO/100
` ~he oggregote uRpaid principol sum of - - - - -
~ - - - - - . Dollars (i. _40,000.00 l.
~ ~t being the specific intention thot furthar advonces mar be made br the Mort~a~ee at its option ro the Mort~a~or, either prior to
~ or ofter the due detes of the above referred to promissory nofe herebr secured; and this mwtqage is qiven for the specifk
purpose of securing onr ar~d all indebtedness by the Mortyayor to the Mort~aqee in wha~ever manner the same mar be avi-
denced or represented, untif this nwrtqaqe is sotisfied of ~ecord; and oll oovenants ond a9reements contained in this nwrt~a~e
~ shafl be opplicoble to oll further ond future odvances made by fhe Mo~t~aqee to the Mort~oQor ond all other indebtedness of
f Mortqagor to Me Mortyo9ee, and any a~d oll renewals or exfensans ther~of.
~ : This l~+brtgage is subject to ~ all the tercns of a Dor?struction Loan
# Agreanent, of ev~i date, the s~ne as if sai~d agreemerit was set out herein in full.
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