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incom~, p?of1~s, issu~i and r~ve~u~s are h~rebr mo~tpoped os if ipecifically set forrh ond deuribed ~n M~ 9~ont~n9 ond habtndun+
claus~i h~r~of, and sucA nc~ivsr shotl hovs oll the broad ond •ffect~•e lunction~ and powers ~n any wise t~trv~~~d by o coun to 0
ret~ive~, ond suth oppointment sholl b~ made by such court os o~ odmitted equity and c mot~er of obsolute ripht in M~ Mo~t9op~~.
ond wiThouf r~f~r~nc~ to Me odequoty or inadequacy of the volue of the propertr mort~oyed, or ?o the solv~ncy or imolv~~cy of
the Mortgagor ond/o~ th~ dtF~ndont cnd such re~ts, profits, ~r+come, issues o~d revenues shall be applied br the ~eceiv~r otcordir+p
~o tM lien and/o~ ~qvi~y of thii mortqope ond Me pro;tKe o( such court, and svch oppo~ntment of receiver sholl b~ w~~hou~ not'c~
to anr obl~qor hereunder.
NINTH: Th~ Morlyopar hereby waives all ~iqhls of homeslead ond exemplion gro~ted by the Consfitution and lows of
Florida. It is spetificollr opreed thot time is of the essence ~n th~s contract ond thot no waivei by the Mort9o~ee of ony obliqation ;
hereunder or of the oblipation sscured hereby sholl ot ony time thereafter be hetd to be a woiver of Me terms hereof or of Me ?
obli9otion secured hereby. t
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TENTH Upon onv sole, transler o~ conveyoe~ce of the property he~e~n descnbed ond covered by th~s Mortgoge to ony
person, fum o~ corpo.ot~on, whose cred~t-worth~ness has not been opprove~ ~n wnt~ng by the holcier of this Mo.tgoge, the MorfQagee
or holder sholl hove ~he nght, ot ~ts sole oDhon, to cccelerote the motunty of th~s Mortgoge os though ~t were due ond poyoble
on the doy of such t.onsfer, ~f upon notice of •wid tronsfe~, the Morrgogee o~ hc~lder hos good ~easo~ to t+eGeve thot the secunty 7
of the Mortgogee or holde. hos been ho?n+ed o* P~o~~ I~rdv The Bank sholl recewe a comple~e cur.ent f~.wnc~ol stote-
ment in o fo~m ond prexentohon so~~sfoctory to the Bonk.
QEVENTH: If foretlowre proceedings of ony second mortgage or second frust deed or any junior lien of any kind should
be insfituted, the Mort~a~ee may, ol its opfion immediotely or thereafte? dKlOre f:iis mongage and the indebtedness secured
hereby dve and poyoble.
TWKFTH: Thot in the event Me premises hereby mortgaqed, ony pa•t thereof, shall be condemned and token for publit
use under the power of eminent domain, the Mortgagee shall hove the right so demand thar all domages oworded fo? Me taking
of or damoges to said premi:es shafl be paid to the Mortgogee, up fo the amount Ihen unpaid on this mortgage and the obligation
sec~red hereby o~d n?ay be applied upon the payments losf p~yable under this mortga9e and the obligotion secured hereby. i
THIRTEENTH: Thot installmenfs, payable under the terms hereof and the rwre secured hereby, not paid when due, shall be
subject, aher fiffeen (t5) doys from the due date thereof, to, end it is agreed Mortgagee sholl collett thereon and therewith, a
"lote char9e" in the amount of four per tent t4~) of the installment due upon each such delinquent in:tallment, and such "lafe
char~es" ore secured by Me lien hereof.
FOURtEENTH: Without impoiring the obligations of Mortyogor tontained in parographs SKOND, THIRD and FOURTH
hereof, ond for applicatan ta the purposes thereof insofar os the some shall be sufficien?, Mortgagor sholl, in addition to the
mw~thly payments of principal and interest as stated in the original note (and in the note or notes secured hereby) provided to be
made, par o nwathlr sum end onaunt eqyal to one-twelfth (1 /12) of the estimated annual toxes, assessments ond insuronce
premiums upo~ the real estofe searify, as the omount fhereof is determined from timc to time by the Mortgagee.
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i FIFTEENTH: That the Mortqa~or shall furnish annuallr, at the request of the Mortgogee, finon:iol statements in fo?m and
~ certified in a monner sotisfodory to the Mort9agee.
' SIXTEENTH: This morf9aye also secures any and all renewals and extensio~s of the promissory note referred to herein ond
~ I n r f and also an other notes which have been or mo be iven to ihe Mortgagee by the
~ secured hereby, and all ~nstal me ts the eo , r r 9
Mortgogor, ond ony other indebtedness of Me Mortgagor to the Mortgagee which, however, shall not exceed at any one time
~ the oggreqote unpaid principol s~m of---------------------------------------------------
~ -------THI•RTY THOUSAND AND ~ NO/100-----------------=--~~~Qrs li 30 ~ 000. 00
it bein~ the specific intention that further odvances may be mcde by the Mortgagee at its option to the Mortgogor, either prior to
or ofter the due dates of fhe above referred to promissory note hereby sccured; and this mortgage is given for the specifit
purpose of securing anr ond all indebtedness by the Mortqagor to thr Mortgagee in whatever monner the some moy be evi- •
denced or represented, until this mortgage is sotisfied of record; a~~d all covenants ond agreements contained in this mortgoge
shall be opplicable to all further and future advances mode by the Mortgogee to the Mortgagor and oll other indebtedness of
~ MortyaQor to the Mort~apee, and any and all rentwals or extensions thereof.
~ SEVENTEENTH: This Mortgage is subject to all the terms of a Construction
~ Loan Agreement, of even date, the same as if said agreement were set out
herein in full.
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