HomeMy WebLinkAbout0215 ~ incpin~, profits. issv~s ond re~enves are h~r~bY nwrtqoqed os ~f sp~c~ficollr sN ~o?N+ and d~scribed ~n M~ qron~in9 ond hob~ndwi+
daus~~ h~reof, ond such rtCfiv~~ shall hov~ cll Me 5~ood and aff~ctiv functio~+s and pow~~s in onr w~it ~nt~~s~ed by o couh ~o a
rec~+v~?~ o~+d s„ch oppo~ntment sl~oll be n?ade b~ suth tourt o~ on admitttd ~qvifp ond a,n+o~ter of obsolul~ ri~h1 ai fhe Morlsoa~~,
~ o~d wiliwut ~eferaoce to ~he adeqvacr or ie+qdequacr af Me volus of th~ p~op~r~r nw~tpop~d. or to th~ solv~ncr or insolv~nc~r oi
tM Mo~t~o9or ond/or the def~ndant and such rtnts, profits, incans, itsues ond r~venu~s sholl b~ oppl~ad br M~ rtt~iver atcOrdin9
to the I~ee andfor equitr af rhi: nw~tqo9e ond Mt'p~octic~ of sucl? court, ond such oppo~n~n+ent of ~~ttiv~? sholl b• without notit~
~o onr obliqo~ hereunder.
. NINTM: The Mo?tpopor he~eby wcives oll ri~hts of homesf~ad and eaemp~ia+ p~o~+ted br the Ca+st~r~Na+ ond Iaws of
Florido. M is specifica+lr aq~eed thal tin+e is of th~ ~ssence ie this cont~ot~ ond M+ot no woive~ br ~he Mort9o9ee of anr obli~et~on
he~eunder or of Me obli~ation securrd he~ebr ~hall 01 anr time th~r~ofter be h~ld to be o weiver of _Me rerms h~~eof or of the
obliqotion secv~ed he~eby.
TENTH: Upon ony sok, t.o~sle~ a conyrfonce of the prope.tY herr~+ desc.ibed ond corered by this Mort~ope ro ony
persory fim+ w corporotion, whose c?edit-wo.thiness hos no~ bse~? opp.oved in writi~ by the holder of this Mott9ope. the Mortpopes
e. holde• sholl hove the .iyht, ot its wti oWan, to occelerote the natunty of this Mortqope os thaiph it wero due ond poyobN
on the doy of such tronsfr, if upon nutice of soid transfer, tl+e Mort~oqee ~ ho~der hos pood reoson w believe thot the secu~ity
ef the Mort~o~ee or h~lder Fas been hormed a-ploced i" je°p°~dy. The 6o^k siall reteive o complNe curre~t firwnciol stota
ment in o fwm ond presentotion sotisfoctory to the Bonk
~ aEVENTM: If forecbsv~e proceedinss of ony :econd nart9o~e or ~cond trust deed o? onr j~ior lien of any k~nd shovld
be iostituted, ihe Mortya~ee mar, ot in option inwnediat~lr or thereaher dedare Mis nanqa~e ond 1he indebtedness :ecured -
Mr~by due and payable. .
TV1/QfTM: Thot in the event the premises herebr awrt~aQ~d, or ern? paN thereof, sholl be condcnw+ed ond taken for public
use under Ihe power of emi~ent doenein, Me Mo~fqapee sl~all !iave the riQht to denwnd thot cll danwpes_awarded fo: the tokin~
of or dama9es to said prenu:es sholl be paid.io the M~xtpo~ee, up to the anaunt fhen unpoid on this nwrt9a~e and Me obli~atioe
sacured herebr and mor be applied upon the porments lost parable under this nw~tqo9e ond fhe obli~ation setvred h~rabr.
THIRTEENTH: That instollments, porable und~r 1M t~rna hereof ond the note secured hereby, not poid when due, shall be
wbject, eher Ahecn (15) doys fran the due date lhtraof, to, ond it is agreed Mortqo~ee shall collect thereon and therewith, e
"lote chorge" i~ the anw~rnt of fovr per cent of the instollment dve upon eoch svch delinquent irntollment, ond wd~ "late
cho~yes" are secured by tht lien hereof.
FOURTEENTH: WiMwut impairinq the oblipotioes of Mortqopw contained in poragraphs SECOND, THIRD aed FOURTH
hereof, and fo? appiication to the purposes the?eof insofar as the so+ne shall be wEficient, Mo?tqa9o? shall, in oddition to the
monlNp payments of prinapol and iMerest as stoted in the ori~inal note (ond in the nofe or no~es secured he~eby) provided to be
made, par a ~w~+~wr o~d o~ow+t ~~o~ ro«+e-twelfth (1/12) of the estiewted aerwal to:es, osseumeMs ond i~nurance
prenwums upoc+ N~e reol estate securiry, as the anwunt thereof is deternweed from time to time br the 1Vbrtqaqee.
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FIFfEENTH: Tkot the Mort9c~ shaH fumish o~uxrallr, at the request of the Mortqagee, Ana~iol stotsments in form ond
certified in o manne~ satisfactory to the Mort~a9ee.
~ SIXTEBdTH: T1ws-nartgoye atso seares any and aD renswols ond extensions of fhe promissory note referred ro hereio and
secured hereby, and all- i~utollments thereof, ond also anr othe~ notes which have been or moy be ~iven to the Mo~tga~ee by fhe
Mortgayo?, and any other indebtedness of the Nlortqa~x to the Mort~a~ee which, however, shall not exceed at any one time
the a~qreqale unpaid prinapal sum of - - - -
--~~+v-u~[~r - Dollars(i-28~000.00.
it beirp the speci& intention thet further adronces mar be n~odt by tfie Mwtpa~ee ot its opfion to the Mo?tyaqor, either prior to
ar aher Ihe due dotes of the above referred to pranissory note herebr serured; and ti~is nwrtqaqe is qiven for the specifit
purpose of secvring ony end ell indebtedness by the Mwt~apor to Me Mortyogea in whotevar enamer the same nwr be evi-
denced or represented, until this. nwrtyaqe is satisfied o~ racord; and all aovenants ond o~reements oontoined in this nwrt~ape
shol! be applicable to all furtfier ond fvhire advantes nwde by the Mort~aqee fo the Mortqapor and all other indebtedness of `
Mo?t~o9or to !he Mort~oyee, and anr and a0 renswah or e~tensions therwf.
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SEVIIdIF.Ei~TiH: ~i,s I~brt~gaqe and the Note whidi it secures shall be oor~strued ~axier ~ _
the laws of the StaL•e of Flotida.
EIQ~I: Zliis Mortgage is subject to all tt~e t~ernLS of a aonstn~ction I~ -
Agreanent, of ~ven date, the saane as if said Agreere~t w~ere set out herein in full.
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