HomeMy WebLinkAbout0806 income, p~ofils, is~ue~ and revenues o?e he~ebr mortqaged os ~f spet~PKOlIy ~et fprlfi ond destr~bed ~n the qrontinp and hob~ndutn
clouses hereol, ond such rece~ver sholl hove ol1 ~ne b?oad ond effect~ve 4unct~ons a~d powe?s ~n onr w~ie erorusted by o cov?t to 0
?eteiver, and suth oppo~~~ment sholl be mode by suth covrt os on adm~t~ed equilr ond a mot~er oE obsolute ri~ht in fhe Mortpopee,
ond without refere~ce ro tAe odeqvocy or inodequacr of rhe volve of the property mOrtqaged, o~ to the solvency ~r inwlventr of ~
1he Mortqogor ond/or the defendo~t o~d s~,ch rents, profits, income, issues ond ?e~e~ves sholl be oppl~ed by the receiver occordinp ;
~o the lien ond o. eqv~tr of this mortgog! and the p~ocfite of suth tou?f, and s~~ch oppointment of rece~ve? shall be wilhout notice i
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?o any obli~or he~eunder. t
NINTH: TAe Mo~tqa~o? hereby wo~ves a11 r~yhts of homes~ead ond eaen+p~~on gron~ed by the Cons~~tur~on and laws of
Flo?ido. tt is spKiFicallJr o~reed ~ho1 t~me is of fhe essence in this controc~ and Mot ~,o waivt~ by the Mortqo9ee of ony obl~~ot~on ~
hereunde~ or of the obligotion secured hereby shall ot anr time 1he?eofler be held to be a waiver of the terms hereof or of the ~
obG~otion sec~red hereby. >
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TENTH: Upon onv sole, tronsfer or co~veyo~ce of the property here~~ described end covaed by this Mwtflo~e to ony ~
person, firm w co~porotion, whose credit-wo~thiness hos not been opproved i~ writinp by the holder of this Mott~o9e, the Mortpo~ee ~
or holde~ sholl hove the riqht, ot its sole aption, to otcderote the motu~~ty of this Mwt~oqe os thwiyh it we~e due end poyobk
on the doy of such tronsfer, if upa~ notice of soid tronsfer, the Mo.tpo~ee w holder hos 9ood ~eoson to believe thot the secu~ity ~
of the Mwtqo~ee or holder hos been hormed or ploced in Ieopordy. The Bonk shall receive o complete curre~t finonc~ol srote-
me~t in o iorm ond presentot~on sotisfoctory to the Bonk. ~
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QEVENTH: If fwecbwre proteedin~s of anr second nwrfQaqe w second tnnt deed or any junior lien of ony ki~d should ;
be instituted, the Mort~oyee may, ot its option immediately or Me~eoher declare this nwrtyoqe ond the indebtedness secured ~
h~rebr due and parable. '
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TWQfTH: Thet in ihe event the premises herabr nartpo~~d, or any pa?t thereof, shat! be condenr+ed and taken for public ~
use under Ihe power of emine~t domain, ths Mort~e9ce sholl have the ~i~ht ro demond thot oll damages aworded for the takinq ~
of or damapes to said premises shcll be poid ro the Mor~9ayee, up to the amount then unpaid oe this mort~aQe and the obli~atioe ~
secured hereby and may be opplied upon the paymenK lost poroble under this na~tqape and the obli~otion secured hereby. ~
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THIRTEENTH: Thot iristollments, porable under the tenns hereof and tM note secvred hereby, not paid when due, shall be ~
subject, oher Rfteen (15) doys from Me due dote Mereof, b, a~id it is o9reed Mortgo9ee shell collnct thereon and therewith, a ~
"lote thor~e" in the onaunt of four per tent (4%) o~ the irutallment due upon eath suth delinquent installment, and ~irth "lote ~
char9ei ' are secured by the lien h~reof.
FOURTEENTH: Without impoirin~ the obliQotions of Mon~a~or contoined in poragrophs SECOND, THIRD and FOURTH
hereof, and for opplitotion to N+e purposes thtreof i~uofar as the same shall be wlficient, Martyaqor sholl, in addition to M+e
monthlr Porme^?s of principol ond iMerest as stoted in the ori~inal note (and in the note or notes secured hereby) provided to be ~
mad~. Par a nanthlr wm and amount equol to one-twelfth (1/12) of the esNmated annual toxes, assessmeMs and iruvraece ;
~ premiunn upon the reol estote sewrity, os the amount thereof is determined han fime to time by the Mortga~ee. i
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~ HfTEENTH: That the Mortgaqo? shall fumish annvollr, at the request of the Mo?tgagee, finorr.iol statements in form and
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I certified in o manner sotisfadory to the Mortpagee.
SIXTEENTH: This nwrtgage also sewres any and all renewols o~d exte~nions of fhe promissory note referred to herein and
secured he?eby, and all instollenents thereof, ond also any other notes which have been or mor be given to the Mortyagee br the
Mortqo9or, ond a~y oMer indebtedness of Me Mort9agor fo the Mortya~ee which, however, shall not exceed at anr one time
the ay~regote unpoid printipal sum of
---FQRTY THOUSAND AND 1~iU/100------------------------ pollan (Yt0,000.00 .
it being the specific i~tention that further advonces mor be made by the Mort~a~ee at its option to the Mortqapor, either prior to
or after the dve dotes of the above referred to promissory note hereby secured; n 111tl1lartga~e is given for the specific
purpose of seturin9 anr ond oll indebtedneu by the Mortyopor to the Mort~o~ee in whatever manner fhe same may be evi-
denced or represented, until this nwrtyaqe is satisRed of record; and all covenants ond a~reemen~s contoined in this mort~age
~+oll be opplicable to oll fu~ther ond future advantes made by Me Mort~oqee to the Mortpogor ond otl other indebtedness of 1
Mort~cpor ro the Mortgaqee, and anr and oll renewals or extensioru thereof. ~
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