Loading...
HomeMy WebLinkAbout1378 income, profits, issues and avenues ore hereby mortgaged os if specifically set forth and described in the granting and hobendum clauses hereof, and such receiver shall hove all the brood and effective functions and powers in any wise entrusted by o t:0urt to 0 receiver, and such appointment shall b• mode by such court os on admitted equity and a matter of absolute right in the Mortgage, and without referents to Me adequacy or inadequacy of the value of Me property mortgaged, or ?o the solvency or insolvency of the Mortgagor andlor the defendant and such rents, profits, income, issues and revenues shall be applied by the receiver according . to Me lien and/or equity of this mortgage and the practice of such court, and such appointment of receiver shall be without notice to any obligor hereunder. ' NINTH: The Mortgagor hereby waives all rights of homestead and exemption granted by the Constitution and laws of florido. It is specifically agreed shot time is of the essence in this contract and that no waiver by tht Mortgagee of any obligation hereunder or of the obligation secured hereby shall of any time thereafter be held to be a waiver of the terms hereof or of the obligation secured hereby. TENTH. Upon any sole, transfer or conveyance of the property herein rlettr~bed anA covered by this Mortgage to any ;person, firm or corporation, whose credit-worthiness has not been approved in wr~t~ng by the holier of this Mortgage, the Mortgagee or holder shall hove the right, of its sole option, to accefe.are the maturity of this Mortgage as though ~t were due and payable an the day of such transfer, ~f upon notice of said transfer, the Mortgagee nr holder has good reason to believe that the security i the Mortgagee or holder has been harmed or plocrd ~n teopordy. The Bonk shall recewe o complete current f~nont~ol state- ment m o form and presentohon satisfactory to the Bonk. ELEVENTH: If foreclosure proceedings of any second mortgage or second trust deed or any junior lien of any kind should , be instituted, the Mortgagee may, of its option immediately or thereafter declare this mortgage and the indebtedness secured hereby due and payable. - TWEiFTH: That in the event the premises hereby mortgaged, any part thereof, shall be condemned and taken for public use under the power of eminent domain, the Mortgagee shall have the right to demand that all damages awarded for the taking of or damages to said premises shall be paid to the Mortgagee, up to the amount then unpaid on this mortgage and the obligation secured hereby and may be applied upon the payments last payable under this mortgage and the obligation secured hereby. THIRTEENTH: That installments, payable under the terms hereof and the nett secured hereby, not ~poid when due, shall be subject, aher fifteen (15) days from the due date thereoF, to, and it is agreed Mortgagee shall collect thereon and therewith, a "late charge" in the amount of four per cent (4~) of the installment due upon each such delinquent installment, and such "late charges" are secured by the lien hereof. FOURTEENTH: Without impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH hereof, and for application to the purposes thereof insofar as the same shall be sufficient, Mortgagor shall, in addition to the monthly payments of prindpal and interest as stated in the original note (and in the note or notes secured hereby) provided to be made, pay o monthly sum and amount equal to one-twelfth (1/12) of the estimated atutual taxes, assessments and insreronee premiums upon the real estate security, as the amount thereof is determined from time to time by the Mortgagee. i FIFTEENTH: That the Mortgagor shall furnish annually, at the request of the Mortgagee, financial statements in form and certified in o manner satisfactory to the Mortgagee. R SIXTEENTH: This mortgage also secures any and all renewals and extensions of the promissory note referred to herein and secured hereby, and all installments thereof, and also any other notes which have been or may be given to the Mortgagee by the l+Aortgogor, and any other indebtedness of the Mortgagor to the Mortgagee which, however, shall not exceed at any one time `s the aggregate unpaid princrpol sum of_ ~S~II~ ~~ID ?~~10(1---------------~--------------'---'-- R - * - - t ? z ~ - . it being the spetifk intention shot further advances may be made by the Mortgagee of its option to the Mortgagor, either prior to or offer the due dotes of the above referred to promissory note hereby secured; and this mortgage is given for the specific purpose of securing any and all indebtedness by the Mortgagor to the Mortgagee in whatever manner the same may be evi- dented or represented, until this mortgage is satisfied of record; and all covenants and agreements contained in this mortgage s ~ shall be applicable to alt further and future advances made by the Mortgagee to the Mortgagor and all artier indebtedness of Mortgagor to the Mortgagee, and any and all renewals or extensions thereof. f 1 1 :f ti 3 BCIp~ 301 j~y~~1373 - -3- ~ ' ` -