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Home My WebLink About0620 cis incoe?~, proflts. issws ond r~v~e~~ or~ h~rebr nw~t~oped os if specificollr s~t fo~N+ ond dex~ibed i~ M• arant~na and habtndvn+ claus~ h~r~ol, ond s~ r~c~iv~r ~oll hcv~ all Me brood ond •(f~ctive fu~ctions and powen In any wi:~ entrv~t~d br o court to 0 rec~iv~r, ond wd~ oppa~lin~nt sholl b• Tod• br tuch courf os on odn+itted equity ond v motte~ of obsolut~ ripht in th~ 7No~tQap~~. and withWif I~Flr~nc~ Fo M~ od~quot~? or inodequatp of M~ valu~ of the prope?ty nw?tpap~d, or to M~ solv~ncr or insolv~cy of tA~ Mortqaqo~ cnd/or th~ dtf~ndanf ~nd wch rtn?s, p?oRts, incom~, iuve~ ond rever+vei shall be applied by tht r~ctiv~r occordinp to ~M ll~n cnd/o~ eQuitr of this nwrtqo~• ond fh~ p~ottic~ of suth tovrt, ond such oppointmant of 'rece~ver sholl b• wifhout notic~ ?o ony obli9o? h~r~und~?. NlNTM: The MwtQopo~ he~eby woives all riphts of homeitecd and exemption g~on?ed by the Constitution ond lows of Flo?ido. h is spttificolty cp~eed thot time is of the essence in this coMratt and thot no woiver by the Mortpa9ee of ony obli9otwn ~ hereund~r or of the oblipation securee}-1+erebr sAoll ot any time thereaite~ be held to be a waiver of the terms hereof or o1 Me t obli~otion secured he~ebr. ~ TENTH: Upon o~y sole, tronsfe. or ca+veyonce of the property here~n deu?~bed ond covered by this Mortqoge to ony ~ t person, f~rm Or CorpOrofiOn, whOSe tredit-wOrlMneu hos ~Ot beM opproved ~n wnt~ng by the holder of thii Mwtqpge, fhe Mortqogee ~ or holder sholl hove the ri9ht, ot its sole option, to occelerote the motur~ty of th~s Martgoge os tha.gh it were due ond poyable w? the doy of such fronsfer, 1f upon notice of said tro~sfer, the Mwtgogce a hotder hos .good reoso.~ to believe ~hot the secwity • . - _ of the Mo.tgo9ee or holder hos been hormed w ploced ~n ~eopordy. The 8onk sholl ?ece~ve o complet¢ current finonc~ol stote- ment in o torm ond prescr~totion setisfocrory to the Bonk. aEVENTM: If foretlosur~ proteedin~s of any setond mort9age o~ second trust deed or any junior lien of enr kind sF?ould be instiNted, the Mon~aqe~ n+ar, at ih option immediatelY or thereafter detla~e ?iis moNgoQe ond the indebtedness secured ~ hereby due ond parable. TWaFTHe Thot in fh~ evenf fhe premises hsreby morfqaged, o- any parf thereof, shall_be tondemned and token for public use under the power of ~minent domoin, fhe Morf~ogee shall hove the right to demond thaf oU damages oworded for the toking of or dana~es to said p~einises shall be pcid to the Mortgopse, up to the amount then unpaid on thi: mo~tgaye and the obliqotion set~red hereby aod ~or be oppli~d upon the poyments losf puyable under this moHgoge and the obli~otion secured herebr. THIRTEENTH: Thot installmenh, payable u~ler the tema hereof and the note secured hereby, not paid when dve, shall be subjecf, a~ter Rh~en (13) dops fran th~ due date ths~eof, to, and it is ogreed Mortgoyee shall tollect thereo~ end therewith, a "late d~arge" in !h~ omow+t of four per_cent ~4~) of the installment due upa+ each sucfi delinquent instellment, and wch "late chorpes" are secured br !hs li~n h~nof. • - FOURTEENTH:. WiM~out impoirir?Q the obliqotions of MoMpapor contained in paropraphs SECOND, THIRD and fOURTH - hereof, ond fo? opplicotion to tha p~rposes th~rsof insofor os the same shall be wlFicient, Mon~a~or sholl, in addition ro 1he nwnthlr pormerds of pri~aipol and iM~r~st as stoted in the o?iyinol note (ond in 1he note or notes secured herebyl provided ro be mede, pey o monthlr wn~ o~d anqunt equal to one-twelfih (1J1Z) of the estimated annuol toxes, osseumeMs ond inwrance pren?iwes upon tM reol ~stob s~wrif~r~ os ths anau~t thereof is determined fran tinie ro time br the Mortga~ee. FIFTEENTN: That the Mort9oqo? sholl fumish annuallr, af t~e r~quest of the Mortga~ee, finantiol stotements i~ form and certified in a manr?er sotisfoctory to the Mo~tpa~ee. ' ~ SIXTEENTH: T1w nqrt~ape olso s~cures eny ond oll renewels ond extensions of the promissorr note referred to he~ein and secured herebr, and olt irotollmanb thereof, and also anr other notes which have bee~ or may be given to the Mortgogee by the Mort~apor, and onr ofher indebtedaess of fhe Mort~a9or to the Mortgoyee which, however, shall not exteed ot uny one time " the aqare~ate unpaid prinapal wm.of_ - --FIFTY FIVE THOUSAND NINE HUNDRED THIRTY AND NO/100-~~an (s 55,_930. 00 it beirp the spatiflc iMention fhot further odrances moy be mode by the Mo~tgayee af its option to fhe Mo~tgvyor, either prior to ar aker the due datss of !he obove referred to p?omiuory note hereby secured; and Mis rriortgege is given for the :pecific purpose of seturin~ cnr ond of1 indebtedne:s br the Mortgayor to the Mortgagee in whotever manner the some may be evi- denced o? reptesented, until this nwrfQa~e is satisfied of record; ond all covenonts and agreements contoined in this mo~tgage sholl be applicable ?o oll fu~ther ond fature advances made by the Mortgaqee to the Mort4ogor and atl other indebtedness of Mort~aQor to Ihe Mortyaqee, and any and all renewols or e~tensions thereof. ~ SE~V~N1H: l~brtgac~or expressly agrees to cnmply with each and every provision of the .DecZaratioci of Condaniniun of t2~ a~ar~daninitm of which the instant unit is a part. Zhis includes the pravisirns of the Articles of Ina~rporatia~ of the oor~daniniun associ.ation, together with the pravisirns of t1~e vondaninium associatirn's By-Iaws , and includes, if applicable, the provisions of the Inng ~rm Lea.se (if any) and the provisians of the Managem~nt Agreement (if any). In the event of default on the part of Nbrtgagor in any one or m~re of the p~wisiotzs of the aforesaid, Agrea~nts, Irbrtgagee may, at Nbrtgagee's sole aption, declare the default of any of the aforesaid Agre~ents mentioned ~in thi ~ instant Art-a~cle, t~ be a default under the provisi.ons of this instant l~brtgage, and may further, at MQrtgagee's sole option, acx~e2erate the ' ss due here~nder, declare the entire indebtedness due ar~d p~ayable in full and/or seek judicial remedies uu~der the prwisions of this instant I~brtgage. . - EIC~~I: This I~brtgage and the Note which it secures shall be oonstrued wx~r the laws of the State of Florida. aooK28? ~E 6t7 -3- ~ ~y ~ r - - ~ s ~ ~ s ~,'~x~ ~ : _ . .