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~ncan~, profits, iuu~s ond r~venu~s or~ h~reby nwrtpo9ed at if spetifically iN farlh ond deuribed in th~ pronfina aad hob~ndun+
cious~s h~~~ol, ond suth rK~iv~? shall hov~ all ~he brood ond •fF~ctive funcfions cnd powen in any wi~~ ~ntrusf~d by o cou~t M o
r~c~iv~~, and wd? oppointm~nt sholl b• enod• br such cowl os an odmitted equiry ond o maner of absolu~e ripAt in M~ Mortpo~t~,
a~d wifhout r~f~rt~t~ 1o M~ od~qvoty or inodequacy of fhe volve of the proper?r nq?f~oqtd, O~ t0 Nf! fO~rfnty 01 iM0lv~ff~ O~
th~ Mortaapor ond/a? M~ d~ffr+dont and such r~nt:, proi~t~, intane, iuues ond revenues shcll b~ opplied by Mt r~teiv~r occordinp
~o th~ lien and/or tquity of this mo?tpop• ond th~ prottitt of suth tou~t, ond such appo~ntn+ent of receivar sholl b~ withpuf npfic~ }
ta onr oblipo? hereund~~.
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NINTH: T1~e Mort9oQor he?ebr woives oll riphts of Fwmeslend and exemption 9ron~ed by ehe Constitution and Icws of
Florido. h is specifically opreed thot tin?e i: of 1he asse~+ce in this cont.oct and thot no woiver by the Mon~a4ee of o~y obli9otion
Aereunder or of the obli~otion secu?ed hereby shall ot anr time thereofre? be held to bt o woiver of Me tern+s hereof or of the `
obliyotion secured Mreby.
TENTH: Upon any sole, t.onsfe. o. conveyonce of the prope.ty he?e~n Aeu~~bed ond covered by th~s Mwt9oge to o~y
verson, firm or to~pOrotip?, whoSe credit-wo.thineu hOS not btM opprwed ~n wr~ting by the holder of this Mo~tgoge, the Mo~tyogee 3
or holde~ sholl hove the riflht, ot its sole option, to occelerote th~ moturity of th~s Mo.tgoge os thaigh ~t wre due and poyoble ~
on the doy of such tronsfer, if upon notice of soid tronsfer, the Mortgogee w holder hos qood .eoson to believe thot the seturity
of the Mortgogee o. holder hos been harrt+ed a ploced ~n ~eopordy. The Bonk si-.oll .ece~ve o_ ca»plete cu..ent }1no~c~o1 stote-
ment in a form ond presentation sct~sfoctory to the 8onk.
BEVENTH: If foreclowre proceedinas of any second morlyage or stcond frust deed or any junio? lien of any k?nd should
be insfituted, the Mo~tqoqee mar, at i1s option in+mediately or thereafter declere t~is mon~oqe ond the indcbledness secured
hereby due and poyobte.
TWBfTH: Thaf in fh~ event the prerni:es herebr mortqaged, any pan thereof, sha!! be condemned ond token for publit
use under fhe power of erninent domcin, the Mortgogee sholl hove the right to demand that all domages owarded for the taking
of or domages to soid premises sholl be poid to the Mortgagee, up to the amount then unpaid o~ this mortgaye and the obligotion ,
:ecured hereby aod may be opplied upon 1he payments lost p~yable under this mo~fgage and the obligotion secvred hereby.
THlRTEENTH: Thot instollments, poyoble under the te.ms hereof and the note setured hereby, nof poid when due, shol) be
subject, oNer Rfteen (15) dors from fhs dvs dote tfiereof, to, und it is ogreed Mortgagee shell collect thereon and therewith, a
"tete char~e" in the omount of four per cant (4~) of the installment due upon eoch wch delinqvenf insto{Iment, ond such "late
chor~es" ar~ secured br the lie~ her~of.
FOURTEENTH: WiNwut in~pairin~ the oblipations of Mort~ogor tontoined in paro~ra~hs SKON~, THIRD and FOURTH
hereof, ond for opplication ro fhe purposes tMreof insofar os ihe same shell be sufFicient, Mort~o~or sholl, in oddition ro the
mo~N~lr Parmenh of printipo) ond iM~r~st as stoted in the ori~inol note (and in the note or notes sacvred herebr) prorided to be
made, par o enonthly wm and amount equal to one-twelfth (1/12) of the estimated omuoi toxes, asseumcnts and insuronce
premiums upon the real estots security, os the amount fhereof is determined f~an time ro time by the Mortga~ee.
" NFTEENTH: Thot the Mort~a9or shell fumish onnuolly, ot the ~equest of the Mortgaqee, finan:ial statements in fonn and
certified in o manner sotisfottory to the Mp~tgayee.
SIXTEENTH: This nwrt~a~e also setures any ond all renewols and extensions of the promissory note referred to herein ond
secured he~eby, and oll iratollments lhereof, end also onr other notes which have been or may be given to the Mortyaqee by the
Al~ortqaQor, ond ony other indebtedneu of the Mortpo~or to the Mortqaqee which, however, sha11 not exceed at ony one time
the o~gregate w~paid principal sum of~
-------THIRTY FIVE THOUSAND AND NO/100---------------polan ~s _ 351_000 . 00 ~
it beinp the spacifk infention thal further advonces may be made br the Mortgagee at its option to the Mortgago~, either prior to
or aher the due dates of the obove referred to promissory note hereby setvred; and this mortgage is 9iven for the specific
purpose of seturing ony ond o11 indebtedness by the Mort~ayor to the Mortgogee in wfiotever manner ti~e same mdr be evi-
denced or represented, unfil this mort~a~e is satisfied of record; and aU ovvenonts and agreements corttoined in this mortgoge
sholl be opplicable fo alf furfher end fufure odvances made by the Mortpagee ?o the Mortgogor on+d ap othe~ indebtednes: of
MorlqoQor to the MortpoQee, ond any ond oll renewols 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.
. eooK 29~ pa~E 5S7
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