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inton+~, p~ofils, iuu~i ond ?~v~nu~~ o~~ h~~tbr nwrtqop~d os if sp~tificollr sN fo?M ond d~scrib~d in M?~ prantinp ond hab~ndwn
claus~s Mreof~ Ond sudl rKliver sholl hov~ olt th~ brood ond •if~ttiv~ functio~» ond pow~~s in onr wi~e ~ntrvst~d br o tourt M o
~a~iv~~, and sucA oppointm~nt shcll b~ modt by such couM os an odinintd ~quity and a mott~~ of obsolut~ ~i9ht in M?~ Moh9cp~~,
ond withoul ~~f~r~nc~ to 1h~ odtquotr or i~od~quoty of th~ volu~ of M~e prop~?tp nwMpap~d, or ro N+~ sdv~ncr o? insolv~nhr of
IM Mon9apor and/o~ th~ d~f~ndont ond wch r~nK, profi~s, incan~, iswa and .~v~nu~s shall b~ cppli~d br th~ r~c~ivt~ oow~dinq
1o fh~ li~n ond/or ~quilr of Mis nq~fqcpt ond IM procfic~ 01 suth tov~f, ond wch oppointm~nt o~ ~~c~~vfr f~~al) b~ wiMqllf 1~Otitf
to onr Obli~or h~rtunder. ~
NINTH: TM Monqopo~ her~br woiv~s all ri~hK of lw~ntst~od and ~~~n+ption pront~d br N+~ Constih,tion ond laws of
Florido. h is sp~ciAccllr o9r~~d Mot tin~ i~ of th~ ~uena in this oontrott ond Ihot no wair~r by tM Mo?t~aa~~ of onr obliqolion
M~~und~r or of the oblipation stcur~d M~ebr shop of onr tin~ M~r~off~? be Mld to b~ o woiv~r of th~ t~r~s 1+~r~of w of th~
oblipofion s~cured-Mr~br.
TENTH: Upon ony sok, tronsfer a conveyonct o/ th~ prop~rty 1+K~in described ond covs.ed by this Matyop~ to a?y
person, fi~n or tupaotion, wlwss credit-worthiness hos ewt bsen opprwed i~? writirg by tM holder of this Mortpop~, fh~ MortpopN
- or holder sholl Fwv~ tht ripht, ot ib sol~ option, to otttleroM fhe motwity of fhis Mort~op~ os fha~ph it w~re dut ond poyobb
on the doy of such tro~sfer, if upon notic~ of ~oid te~onsfe?, the AAo?tpopee a hoWe~ ~F+os pood noson to believe thot tM s~cwity
of tM Mat~ope~ w f~older hos bsen honned or ploced in ieopordy. Th~ 8onk sho0 nceiw o complete current (ina+ciol stota
msnt in a fWn1 Ond pr~sMtOiion soiisiotiary i6 ti~e 68tik.
BEV~ITH: If for~cbwrs prott~din~s of anp s~oond nwrt~a~~ or s~ond Mist de~d or anr junio~ litn of onp kind tlw~dd
b~ irntihM~d. M~s Mort~cqk nwy, at its option inun~diat~f~r or 1h~nah~r d~dar~ N~is nartpa~• ond tM indebt~dn~ss s~sured
Mr~by dw o~+d porabl~. -
TV1/QFTH: Thot in tM ~v~nt IM pr~nws~s h~r~by na~t9aq~d, a any pa~t th~reof, tholl b~ cond~~d ond tok~n for public
us~ und~r the power of ~enineM danain, 1h~ Mort~cae~ sholl hav~ tht riqht to ds+nond N+ot oN donap~s oworded for tM takinp
of or danw~es to said pr~nrsss sholl b~ paid to th~ Mortpoq~, up to 1M a+nouM Nien unpoid oe H~is enortpaq~ ond IM.obli9ation
s~cur~d hK~br ond nwr b~ applied u~ th~ poyen~Ns bst payabl~ und~r 1Ns ewrtpap~ and 1he obli~otio~ s~cund Mr~br.
THIRTEENTN: Thot instoQn~nh, porabl~ undK IM bnns Mnof ond 1i~ not~ s~tur~d h~r~br, not paid wMn dw, slwll b~
wbj~ct, oh~r Rh~ (1S) da~rs from Na dw dat~ 1h~reof, to, ond it iq a~~Nd MortqopN shoN odl~ct M~r~on ond N~e~~wiNy a
"lat~ d+arQi ' in tM amouM of four per ceM (4~' Df Ih~ irotolWn~M dw upon ~od~ wch d~linqwM iiutalln~nt, and wch "lot~
- dwr~~i' ar~ secur~d by,IM li~n Mr~of.
fOURT~ITM: Withoul impoirin~ 1h~ obliqations of Mort~oQo? coetain~d in pa~a~raphs SECOND, TMtRD ond FOURTM
hK~of, and for opplieotion fo~'~M purpos~s N~?~of ~nsofar as th~ soea~ ~holl b~ sulFioi~nt, Mortqa~ shoN, in addi?ion to tM
~y PoY~s ~ P~PaI and int~~ut as stat~d in 1h~ oripi~ol not~ land in 11~ nob or not~s s~wr~d her~brl Pro~?ided ~o b•
nwd~, poY a monthlr swn and a~naN+f ~qual to onatw~lfth ll/12) of N+~ ~sfimot~d onwol tax~s, as~s~nh ond imuranc~
! prNniums upon fhe nal ~staM s~writ~?. os 1h~ anaww Ih~r~of is dN~rmin~d fnoia tin~ b linw br th~ Mort~c~e~.
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RFfEENTN: Thot th~ 11RortQapor sholl fumish onwallr, af fM rtquest of th~ Mortpo9~t, fi~w~al stotenanh in fonn ond
cartiAed in a nwnne~ satisfodory ro!h~ Mortpo~~t.
~ SIXTEEIVTH: TNs nw~tQa~e otso s~ar~s arnr ond aN r~wols and ~xtMSions of IM p?onwssory note r~ferr~d to h~rein o~d
secured he~~br, and oll irata0m~s 1h~reof, ond olso o~? otMr not~s which hove b~en a nay be piven ro M+e, Mwt~aq~e br 1h~ -
Morf~a~or, and onr o~Mr indebtede~ss of th~ Mortqapor M th~ Mortpos~e whidb haw~ver, shoQ n~f ~xceed at a»~r on~ tinN
the a~qre~ote unpoid principol wen of__ ~
~Q~ ~ ~Q'~ ~ ~ DOIIOR (S 4~j aOO. 0~~
it beinq ~he specific infention that iu~ advonus inar b~ ~no~~ by the Mort~a~N ot ifs option ro the Mortqa~or, ~ith~r prior ro
, or ah~r the dw detes of th~ obov~ ref~n~d to pronws~ory noM her~br s~cur~dj ond this nartyap~ is qiv~n for the sp~cific
purpose of securiep o~r and all ind~badn~ss br tht Matqe~o? b th~ Mort~apt~ in whot~ver nwnn~r the san~ nwr b~ ~vi•
d~nc~d a repr~see~t~d, uMil this nartqap~ is sotisMd of noord~ o~d all oov~nonh ond a9reen?~nts coMoined "n+ Nus nwrtpape
shafl b~ opplitobb M ofl h?rM~tr ond fvlur~ odvanps mod~ br IM Mortqopae to tM Motf~oqor and oll othe~ indebt~deess of
Mortpa~w b fM Mort~o9~~, ond anr ond cll ren~wals w~xt~nsions th~r~of. ' '
: This Mo~tgage is. subject to all_ the fie~ns of a Oonstruction Loan
Agz~ee~nt, a~ ev~en date, tl~e same as if sai~d agreanent was ~et out her+ein 3n full.
EIt~'EH~I: This Mo~rt~gac~e and the No~te which it ~s shall be vrnstrued
~der the l.aews of the State of FLori~da.
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