HomeMy WebLinkAbout0803 5. To pernzit, co»a~nit or stiffer n~ u•ar~te, impairment ar ~ererioration of said
property or anb ~art thereof.
6. To ~uer~orm, compl~ with and abide b~/ each cr,n~t every the atipulationa, a~ree-
ment,a, conditwns and covenant8 in aaid prom.~sor~ note and zn thia deed aet forth.
7. If any of aa~d auma of ~non~ed/ harein neferred to be not prnrnptly and fully paid
ve
tfiirty daya ~uxt a}~er the aame severoll~ beeo~ne d:ie and pa abl~,
or if each and every N+e atipula~iona, a~ree~nenta. conditiona and covenanta o said
prvmi~sBOTy riote cznd taiia c~eed or either, are nod dut~/ perforn~ed. complied wilh and
a,bid~ed b~, the said a,~~r~e,~a~te aum n~n~ion~d in aaid pro~nia8ory note tlien rema.ini~e~
u~paid shall become due and pa~/abla forthwith or thereafter cct the option of the
JK'ort~a,aee aa ~ a.nd co~nplstel~/ as if the aaid a~:~i'e~ate aum of
---------$20, 000.00------------ dolla~ra w~aa ori~inaclly atipulated to be paid on
tucla d~, aat~thin~ in 8aid prnm.i~asorr/ note or 1e~rei:n to tha contxary notwithstcLndan~
8. T'he ,~li'art~a~ee r?ia~/, at an~/ tirne whil~ a suit ia pendin~ to foreclose or ~to refor»a
t,hia ~nort~a~e or to enforca any clai~ns a.risin:~ ~hereurider. ap>>ly to tl,e court having
jtarsadiction t/ureof for the appointntent of a receiver, and such .co«rt ~halt for~hwith
appoir~t a nceiv6r of the prernises and all other prnpert~ covered here br~, including all
a~td ain~ular tha i~r.cor~t, prnf'its, rents, iasccra und reveneces from whatever sowrce de-
rsved, arid auch recriver shall have alt tlea bnoad ar~d effective functions an~ powera i~
an~wise entruated by a court to a receiveran~such appointrnent shatl be ~e by srceh
eourt as a~ udraitted equit~ and a matter of acb8otute ri~ht t~~ said .~Nort~a~ee, an~l
without referenca to t~e adequacy or inac~equacy of the rra.tr4e of the property naort-
~ct~ed or to tlu sola~ene~/ or insolve~eey of scud .hiort~agor or the ~efendants. and suel~
inco~n,e, profita, n~ts; is8ues and revenues shall Le opplied b~ .4u,ch neceiuer accordin~
to the lien of this ~nort~a~e and the prrcctice or such court.
9. Failu.na by the JKort~cc~ee to eaeer~ise a~.y of tlcs righta or options henei~n
pro~t~ded ~ sha,ll ~o~ conatitute m zaa~ivar of a~ ri~h.ti or option~ under said ~sote or
t~yia ~tii,b~ ~e -,uccrued or thareafter accruin~
_ ~ . ~
-
r,: / ~ / i. _
; '•~i ~ r ~1 ~`'s. '
; . ~4 ry'
~ l , .''C o~: th ' f ,
' ° ~ • ~ ' = : ~ ~ : ~a ~itness ~hrrenf,-the said partt~ of the }trAt part has
'"~t ~ caused these presents to be si~ned in its name bJ its Presulent,
:;:M};: : , ;
a~,p~,= 7~;~: ~:r an~l its corp~rate seal to be afJE.red, attested hJ its Secretary,
(~~p~~:{: ~ thP ~iay and yea~ aboL~e written..
~
, . •
• : ,'t ~ i.- ~
rltte : ~
As its Secretary ~GNOLIA INVESTMENT COMPANY
~ ~
~ Sign , Delivered in Our ~ Preeence : ~
As its President.
~ . By
~ ~/yytl
~ftttp u I~ri~~ -
- t
~
~Wtt~g Of PALM BEACH '
I, an. of~.cer arcthorize.d to tcrke ack:nowled~rnents of deeds accordin.~ to the
latvs of the State oj Florida, dtilJ qualifted and acting, ~ctitg ~tsttfg, that .
J. L. WAUGA, JR. and R. T. SI~iON ,
respectivelJ as President and SecretarrJ of MAGNOLIA INVESTMENT COMPANY, ~
to me personalZJ knou~a, this daJ ac~nowledged before me that theJ executed tlip
jore6oin~s mortgage as such o~"icera ojuaid corporation. and t.h.Rt. they afJgxed thereto
the o~Ecial seal of sai~l corpor~tion; and ~~urtl~er Ultrt~fg that I 1~:~rorv the
~ said persons ma~,zns said a~knowledg~nents to be the irtdiL~iduals descri-be~l i~r. and
who exectcted t,hP said mortgage. .
~1t~itt~t~f~i ~jereof. I laereunto set mJ hand and of~cial sea~t _
West Palm Beac , said Cou~atJ and State, this -
daJ of February ,.q. D. 19 77 .
(NOTARY ~ ~ ;
~ NotcLry ubli~c• State o Florida
;-;g~j . M~ Co~nm.ia"8ion Expines s 7
t - ~ ~ ?
. ~ iTIE~ AMO Qp ' "
; • ' ' - ' - ~~~E ~~T ~ `
, : " ' ~ - ~ QEit ~Q .
' ' -,'ti . ~ ~1AC
L ; - ~ . . ~ : < ~t`OORO VEA~~EO - R
f~ ' ; ,C.
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• •~ri.ntile,',*`-_:.!•'~s" . 1 ~E8
~rCii~4 pAf~ 80i ~
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