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income, profits, ~ssu~s and revenues ore ~erebr mortgaped os if spec~ficolly set fo.th ond descr~bed ~n the oro~l~np ond hab~ndum
claus~s hereof, ond such ~eceiver sholl hove oll tAe brood ond effetf~ve tunctio~s and powers ~n ony w~se en~r~sted by a coun +o 0
rKCiver, ond iuth eppointme~t sNall be mode by such tourt os an odmitled equity ond a mafle~ of absolu~e ~~~h~ the Mortpop~~.
ond witAouf r~ferente to ~he adequaty o? inadequacy of the value of Me property mortgaged, or to Ihe solventy or insolv~ncy of
the Mortgoqo? and/or the defendanl end svch rents, profits, intome, ~ssve~ and revenues sholl be oppl~ed by fhe reteiver ottordir+Q
to tAe lien ondior equity of ~his mortpa~e ond tAe practice of such co.,r~, ond s~ch oppointment oI .ece~ver sholl bs without notice
to anr oblipor hereunder. ~
NINTH~ The Mort9oyor herebr waives oll rights of homestead ond exempt~on gronred by the Constifu~~o~ and lows of
Flo?ido. It is specificolly aQreed thot time ~s of rhe es:ence in this controu a~d that no woiver by rhe MortgaQee of any obli9o~~on
:ca~eu~war or of rhe abiiyui~u±~ iectired htreb~j i{iu~i ut ~ny fime there~`fer uE ~'<<~ :'u ~C ~+~~iver of the ~erms h=?toF o? of the
obliqation secured hereby.
TENTN Upo~ any so~e, 1rons+er or conveyonce o1 the propert~ here~n Aesc.~bed and covereA b~• Ih,s Mo.tgage to ony
pe.son. hrm or co.porohon, whose cred~t•v.orth~ness hos not been o, pr~ved m anfing by the holAer of rh~s Mortgoge, the Mo~tgogee
o. holder sholl ha~e the ~~qht, ot rts sole ophon, to cccelerate the ~*w?unt~ of th~s Mo.tgoge os though ~t were due and poycble
on rhe cloy of such tronsfer, ~f upon notlce o~ so~d ~ransfer, the Mo.egagee or h~lder h~s goed reose~ to hel~e~e thot the secunty
nf the Mortgagee or holder hos been harmed or ploced ~n ~eopordr The Bonk Sholl recerve a complere tur.ent hnanciol sfate-
mc~t ~n o fcrm ond prese~tat~on sot~sfocrory ro the Bonk
ELEVENTH: If foretlosure proceedings of any setond mortgage or second trust deed or ony junio? lien of ony ki~d should
bc insti/uted, fhe Mort~ogee moy, at its option immediately or fhereafter declare r.~~s mortgage ond 1he indebtedness secured
hareby due and payobla
TWBFTM: That in the event Me premises hereby mo~tgaqed, nny pa•t thereof, sholl be. condemned and foken for public
use under the powe~ of eminent domain, fhe Mortgagee shall have fhe right ;o demand tha? all damoges awarded fo? the taking
of or damcges to said premises sholl be paid to the Mortgagee, up to the amount then unpaid on this mortgoge and the obligotion
secured herebr ond may be applied upon fhe payme~ts losf payable under this mortga~e und fhe obligo?ion setured hereby.
THIRTEENTM: Thof insfollments, payoble under the terms hereof and the note secured hereby, not paid when due, shall be
subjett, ofter fiftee~ (15) dors from the due dafe thereof, to, and it is agreed Mortgagee sholl collect therea+ ond therewith, a
"lote charge" in the anaunt of four per cent ~1~) of the iratallment due upon eoch such delinquen~ instollment, and such "late
chorgei' are secured by the lien hereof.
FOURTEENTH: Without impoiring the obligations of Mo?tqogor contained in paragraphs SECOND, THIRD and FOURTH
i hereof, ond for opplication to the purposes thereof insofar as the same shall be sufficient, Mortgagor shall, in oddition to the
monthlY payments of principal end interest as stated in the originol note ~and in the note or notes secured herebr) provided to be
i mQde, pay o monthly sum and amount equal fo onc-twelfth (1/12) of the estimoted o~nual taxes, assessments and insuronce
~ premiums upon the rea) esfofe securify, as the amount thereof is determined from time to time by the Mor?gagee.
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~ FIFfEENTH: Thof the Mo?tyoyor shall furnish onnually, ot the requesf of the Mortgagee, finan,iol stofements in form and
; certified in o manner satisfadory to the Mortgagee.
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~ SIXTEENTH: This mo?tpape clso secures any and all renewals and extensions of the promissory note referred to herein and
~ setured hereby, ond all instollments thereof, and also any other notes wfiith hove been or moy be given to ~he Mortgagee by fhe
~ Mortgogor, and any other indebtedness of the Mortgogor to the Mo?tgogee which, however, shall not exceed at any one time
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~ the aggreyote unpaid prir+cipal s~ne of. _ _ _ _ - - - _ -
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~ ------THIRTY THOUSAND AND NO/100-------------------- ~~~a~s~E 30,000.00
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it being the specific infenfion fhof furMer advarxes moy be made by fhe Mortgegee at its opfion to the Mortgogor, either prior to
~ or after fhe due dates of fhe above referred to promiswry note hereby sea~red; and this mortgoge is given for the specific
p~rpose of seturing ony and all indebfedness by the Mortgagor fo the Mortgagee in whotever manner the some may be evi-
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~ denced or represented, unfil fhis mortgage is satisfied of record; and oll cove?+ants and agreements contoined in this mortgoge
shall be opplicable ?o al! furfher ond future odvonces made by the Mortgagee to the Mortgagor ond all other indebtedness of
~ Mortqa9or to the Mort~apee, ond any and all renewals or extensions thereof.
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SEVENTEENTH: This Mortgage and the Note which it secures shall be
construed under the laws of the State of Florida.
EIGHTEENTH: 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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~ ~ B~oK 286 P~~~ 69fl
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