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HomeMy WebLinkAbout0460 . i ~ ~ ~ 4 . i ' ~ ~ RIDER ATTACHED TO AI~ID MADE A PART OF THAT CERTAIN MORTGAGE DEED ` j I~REIN ALFRED J. FOSTER AND BARBARA A. FOSTER, HIS WIFE, ARE MORTGAGORS ~AI~ID AMERICAN BANK OF HOLLYWUOD, IS MORTGAGEE, DATED MAY 3, 1976. ~f ~ I ir ~ ~ - This mortgage secuxes ai~ existing indebted»ess and shall ~ also secure such future advances, which may be ma.le at the ~ption ~ of the mortgagee, as are made h~ithin five years from the date , ~ hereof, to the same extent as if such future ad~ances were made on ' tt~~e date oF execution hereof, in accordance with Florida Statutes ! Sectian 697.A9; provided that the total.-unpaid,balance so secured f at at~}• one time shall not exceed a maximum principal amount of , ~$10,000.00 , plus interest thereon, anci~any disbursements ; ~ made for the payment of taxes, levies, or insurance on the property : • ~f covered by this mortgage with interest on such dis~ursements. I ~ ; ~ If the mortgagee institutes a suit to foreclose this mort- ! ; gage, he shall be•entitled to apply at any time to the Court having = ~ jurisdictian thereof for the appointement of a receiver of the mort- ; ~ gaged propert~• and of alI rents, incames, profits, issues and : 1~ revenues thereof, from whatever source derived; thE Court may ; `~forthwith a~point such receiver with the usual powers and duties ; ~ of re~ceivers in like cases, and saici appointment shall be made by j ihe Court as a matter of strict right to the mortgayee, wit}iout reference to the adequacy or inadequacy oF the value of'the property ; ~j herel.~y mortgaged or ~ ~o the, solvency or insolvency of the mortgayors + or of any other party c~efendant to such suit. Mortgagors hereby ! , w~ive any right to object tqtthe appointment of a receiver as ~ i~afaresaid ana consent that such appointment shall k~e made as an admitteci equity and as a matter o'f absolute riyt~t to tY~e mortgagee ` ~ and it may be done without notice_to the mortgagor. ; ' . , ~ To further secure ~~e indebtedness of the mortgagors to the ';~mortgagee, the mortgayors ~,e~, assign, transfer. and set over' ; unto the mortyagee all of t~ie rents, issues and profits of the ~ _ ~ mortgaged premises; this assignmer.t shall become operative upon any default being made by the mortgagors under the terr~s of this i , ' mortgage or the note secured hereby,'and shall remain in full force ~ i, and effect so~lonq as any default continues to exist in the making ; ! of any of the paymPnts or performance of any of the covenants of ~ ~ ! this mnrtgage or the note secured hereby, and the r^.ortgayee shall ~ ~ have the riyht to enter upon the premises and collect same directly . ~ :~from persons in possession. ~~i !•tortyagors shall exhibit to the mortgagee paid receipts for ~ all real es.tate taxes at least thirty (30) days prior to the date ~ upon which said taxes shall become delinquent. - ~ f , If legal or equitable title to, or right to possession of, ~ the above ciescribed property is transferred from the r.?ortyayors ~ herein! the mortgagee, at its option, may declare"the entire tal- ~ ~ ,i ance of the obligation secured by this mortgage imr.tiediatel~• due , ~ and payable. If the mortgagee does not exercise its opti~n, then ~ : 'i the mortgagor shall pay a transfer fee of $100.00 to the mortgayee ~ '~I upon any such transfer to pay for the cost of adjusting its records. ~ ~ I ~~4 At ~ny time during the life of this ttortgage Deed and the . ~ f hiortgage ~tote ~hich it secures, 1~ortigayee, at its oE~tion, may ~ j~ reyuire mortgagor ~nd/ar any of the Nrinci~als of thc~ mortc~agor • ~ corporation, if said mo~r~gagor is a corporation, to c3eliver to ~ ; ~C mortgagee a current signed financial statement, Such signed ~ ~ }i financial statement(s~ shall be clelivered to mortgagce within i thirty (30) days after request is made by mortyagee ~or same. ! ~ Failure to comply with the provisions of this ~arayrapli shall ~ t constitute default under the terms of this instrument and the note ! ~l which it secures. ~ ~ ~ ~ `I ~ i~ . ~ ~ ~ ~ p~ KOEtvIC3. KAT2 AND GOODMAN _ ~ 2~T FAGE ~ 2