HomeMy WebLinkAbout0376 incoin~, p~ofits. issu~t ond ~svtnves o~t h~reby nwrtQoqed os if ~pecifkaUr sN fo~M ond d~sc~~bed ~n th~ ~rontin9 and hob~ndwo
clo~rus ht~eof, ond such receiver shotl hove oll the b?ood nnd e~fective f~nctions ond powtn in cny wis~ ~nlnist~d by o cou~t fo a
r~c~iv~r~ and ~uch oppointmsnt sholl be n?ode by such court cs an odn+ill~d ~quity and a motter of obsolut~ ri~ht in Ih~ Monpo9~~,
ond wiN~out refer~nce to th~ odequoty or inodequocr of ?he volue of M~ p~op~nr nw?tqoyed, or to th~ solvency or insdv~ncy of
- tM Monao9or ond/or Me defendont cnd such r~nt:, profits, income. issues ond rsvenues sholl b~ opplied by M~ ~~c~iv~r otcordinp
to fh~ lie~ ond~or equity of this nwnQope and th~ proctic~ of such courl, a~d sud+ oppoin~ment of r~c~iv~r sholl be wiN~ouf notia
to any obli9o~ he•eunder. -
NINTH: The Mo?tqopo~ Mrebr waives oll ~iphts of Iwm~sl~od ond extmptio~ ~ron~ed br th~ Con~titv~~on ond lows of
Florido. M is speciRcollr o~re~d that time is of fhe ~ss~nce in thii tonlroct ond lhot no waive~ by the Mon~aqe~ of onr obli~ction
he~eund~r or of the obliQo~ion secured herebr sholl ot onr tim~ thereafter b~ held to be o woiver. of ~erm: hereof o~ of the
obli9otion setured hereby. .
TENTH: Upon any sole, trorufer a conveyo~ce of tl,e props.ty he~ei~ desc~ibed and covcred by thu Mat~ope b a~y
pe~son, firtn w torporotion, whos~ t?e~t-wathiness hos nof beee opp?wed in writinp by the holdsr of tFus Mortyope. tM MwtpopN
' a holde~ sFwll Mw tM ripht, ot its sol~ aption, _to occeterote th~ moturity of this Mortpoqs. os thouoh it w~.e due ond poyobk
on tM doy of such tronsfer, if upon ~atice of soW tro~ufe., the Mat9o~ a holder hos qood rsosa~ ro believe thot th~ s~cwity
of the Matpope~ a hdder hos bea+ hom~ed or Ptocad ie ieopordY. ~+e Bo~+k sholl receive a complet~ cwre~+t fi~o~+ciol state-
ment in o form a~d Presa+totion sotisf«taY ro ths Bank
QEVENTH: If foreclowre proceedin~: of onr ssaa~d nwrf9a~e or s~cond tnnt deed or any jurwor lien of eny ki~d should
b~ insntuted, the Mwt~ape~ n+ay, at its option in~mediotel~r or Ifi~?eoher d~dare Mis nwrt9oQe ond 1hs indebtedness secur~d
h~r.br dw and payabl•.
TWBfTN: Thaf in Ih~ ~venf fh~ pr~mis~s her~br naAqoqed, or anr port Ih~reof, sholl be cond~enned ond tok~n for public
us~ undsr th~ pow~r of enwneM danain, 1ht Mortqa~ee sholl hov~ th~ ri~ht to denwnd thot oN danw~~s oworded for IM tokin~ '
of or doma~e: ~o wid pr~mi~s shaN b~ pa~d ro Ma Mor?9ao.., up to tM anwunt fhen w~paid on Nws nartpa9e a~+d Ih~ obli9ation
s~wred hKebr and nar bt applied upon fh~ parnants lait parobl~ und~r Mws nwK~ap~ and fhe obli~ation s~wred h~r~br. ~
THIRTE~NTH: That instqllinents, payabl~ und~r ih~ tsrnis h~reof and 1he note secured her~br, not paid when dw, shall be
wbjed, ah~r fifteen (15) dars fran fhe dw dat~ thereof, to, c~d it is a~re~d iNlortqo~ee shall ooll~ef thereon and th~r~with, o
.'lote d+or~~" in the amount of fow p~r tent 14~) of 1he i~stallmeM dw upon ~ach such d~linqveM installment, ond w~d~ "late ~
char9ei' on setured br IM lien her~of. -
FOURTEENTFI: Without unpairinq th~ obli9ations of Mwtpa~-tontain~d in parapraphs SECOND, THIRD ond fOURTH
Mreof, ond for oppiicotion to M+~ purpos~s th~roof i~sofor as ih~ some shaU b~ wlFici~nt. Mo~t9eyor slwN, a~ addition to 1fie
montNr parmeNs of pri~apol ond 'a+t~r~st as stoted in 1he ori~incl note land in the note or not~s seared h~rtbr) P?ovid~d to be
nad~, paY o nanthlr wm and c~nawN ~quol to one-twelfih ll/1Z1 of th~ ~stin~at~d anwal tax~s, os:esunsi+k and ie~ana
pr~miu~ upa+ ihe ~roal esfaM s~wril~?, os fh~ omou~ Ihereof is deMnnined from tun~ io fiin~ br 1h~ Mort~a9ee. -
{ RFI~ITH: Thot Ihe Mortqa~or shaq furrrsh onnuaUr, at the request of the Mort~o~ee, finan:iol statements in for~n and
~ c~rtified in o nwnner sotisfoctory to the Mort~apee.
~ SIXTEB~lTH: This nwrt~o~e also seour~s onr aqd oll re~ewoh cnd exteesions of 1he promissory note referred to hereie ond
saoured hereby, and oll insfalbn~nts thereof, and olso. any oth~r nofes whith kove been a nror be ~iven to fhe Mort~a~ee br fhe
Mortpc~CCU, and anr ofh~r ind~btedness of the Mortqa~o? to IM Mort9aqee which, however, shall not exceed ot o~r one time
the a~~repate vnpaid principol wrn of~'= FIFTEEN THOUSAND- AND 00/100 ($15 ~ 000. 00)
15,OQ0.00 ~
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it be'up H~e spea& intention thct fuNher advanas nwr be inade br the Mortqap~~ ot its option to th~ Mo~tqo~or, e+ther priw ro
w after ~he due dates of the above r~fened ro pronNSSw~r note herebr seoured; and lhis nwrt~aqe is ~iyee for the specific
pwpose of securin9 en~r end oll indebtsdne:s br NK Mo~9o9or ro N+. Morrqa~e. M whot~ver manner the san+e mar be tvi-
d~nced or represented, until this nart9aqe is satisMd of r~cord; ond all aovenoMs ond aq?eanenb ta~foi~ed in this nart~a~e
sFwll be opplicoble to oll further and future advanas mad~ br the Mat~aqee to the Mo?t~aqo? and all other indebtedness of
Mort~o~or M fhe Mort~oq~e, and any ond cll r~wols w exte~nions 1her~of.
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