Loading...
HomeMy WebLinkAbout2260 t t levied upon the Mortgage or the debt secured hereby, or against the holder thereof, a provides that any amount so paid by the Mortgagae must be credited on the mortgaged debt, the Mortgagee shill have the right to give ninety days written notice to the owner of the mort- ga ed premiea, requinr the payment of the mortgage debt, with accrued Interest and charges. If s??ch notice be given. the uid debt. wi~ accrued mteret and charges, shall becane due, payable and oollectibk at the expiration of said nit?cty days and upon defauh is wds payment after such ninety days, this Mortgage way be immediately foreclosed. 13. That if at any time in the opinion of the Mortgagee a receivership mayy be necessary to protect the mortgaged p aoPaty, a ib rests, issues. Profits. err produce, vehether before a after maturity of the indebtedness hereby secured. or at the time of err off We insti- tution of suit to collect such indebtedness err to enforce this Mortgage. the Mortgagee shall, ss a matter of strict right and regardkas of - tho value of the mortgage security for the amounts due hereunder or secured hereby. or of the sdvency of any party bound for the pay- ment of such indebtedness, have the right to the appointment on ex parte appUcation. and witlaut notice to aayono. by any Cant hang jurisdiction, of a Receiver to take charge of, manage, preserve, protect and operate said property. to collect the rents. issues. profib and income thereof, to make all necessary a needful repairs, and to pay all to:as and assessments a8atast :aid Property snd insurance a~~ for insurance thereof, and aher the payment of the exper?xs of the receivership and management of the property to apply the nd proeeeds in reduction of the indebtedness hereby secured err in such ntanuer as the Court shall direct. Such receivers~p shall. at the oPtrou of MoR- gagee. continue until full payment of all sums hereby secured. or until titb to said property :ball have passed by sale undo this Mortgage. ls. That the security herein erect hereby provided shall not affect nor be affected by any other a further s,e~taken or to be taken for the same indebtedness, or any part thereof; and the said.Mgrtgagor hereby declares that the ~operty h are mentioned and conveyed to said rortgagee forms no part of any property owned. used a calmed by the said Mortgagor as exempted from forced sale under the laves of the State of Florida. and disclaims. waives. erect renounces all ud every claim to exemption under any homestead exemption a other laws. 15. Should the Mortgagee at any time request in wripng that the Mortgagor canfirrrr the amount of the indebtedness for prindpal erect interest segued by this Mortgage and the validity of the lien hereof, the Mortgagor covenants and a to give such written o ir- ? matinee within five days after receipt of such written request, or within said prnod of time to advice the Mortgagee in writing of any i dispute as to the amount of the indebtedness secured hereby or the validity of this Mortgage, or the lien hereoE• 18. That in the event the premises hereby mat ed, err any part thereof, shall be condemned or taken under the Power of eminent domain the \iartgagee shall base the right to demard that aA damages awarded for the taking of tx injury to said pranises shall be paid bo the Mortgagee up to the amount then unpaid on this Mortgage, and may be applibd to any sums last payable- hereunder. 17: It is agreed that nothing herein contained rwr any transaction related thereto shall be construed err so operate as to require the ! Mortgagor to pay interest at a rate greater than it is now (awful in such rase to contract far, or to make any payment or to do any net con- ; teary to law; that if any clauses or provisions herein contained operate or would prospectively operate to invalidate this Mortgage or said \'cke in whole or in part, then, such-clauses and provisioru only shall be held for naught, as thougt, not herein contained. and the remainder of this Mortgage shall remain operative and in full Force and effect. 18. In the event of any default or breach on the part of Mortgagor hereunder or of said Promissory note, the 1?iortgagee shall have the continuing option to enforce the payment of all sums secured hereby by action at law or by suit in equity to forecbse this mortgage, either or both, concurtently or otherwise, and one action or suit shall not abate a be a bar to or waiver of tj?e Mortgagees right to iacti- tute or maintain the other. provided said Mortgagce shall have only one payment in satisfaction of said indebtedness. 19. If this mortgage is subordinate to prior mortgages encumbering the encumbered property. then, in addition to all other rights, remedies and privileges it may have, the Mortgagee shall have rights, remedies and privileges identical to those granted to this mort- gagees under the prior mortgages, except as to those rights, remedies and privileges incapable of exercise by the I?fortgagee, and said rights . remedies and privileges are hereby incorporated into this mortgage by reference and made a part hereof. It is the intention of the Parties that the Mortgagce shall have, in addition to the rights, remedies and privileges it may have under this mortgage. by law, and by agree- ment with the Mortgagor, the same- benefits, sonrrity and protection granted to the mortgagees under the prior mortgages, save only such as are released in writing by the I?iortgagce or such as may be exercised by the first mortgagee abase. 20. In the event of forecbsure of this mortgage or other transfer of title to the mortgaged property, all right, title and interest of the \iortgagix in and to an>• imurmce policies then in force, including all pranitrms therein paid in advance, and together with all deposits and advance payments for utilit}• serticc of any kind or nature, heretofore or hereafter deposited by the AtortgageE for such utility service, in connection with the operation of tl?e mortgaged premises, shall pass to the purchaser a grantee. 21. lfortgagor covenants and agrees to first obtain the written consent of the I?tortgagee before removing or demdishing any build- inG now or hereafter crec•tcd on the premises, or altering the arrangement, design or structural Character thereof, or making any repairs which invoke the remot-al of structiual parts or the ecposum of the interior of the subject building to the elements. 22. If the indebtedness sec~accl hereby is now or hereafter further secured by chattel mortgage, pledges, contracts of guaranty. as- signments of leases, or other securities, or if the prc~nises hereby encumbered consist of more than one parcel, the Mrn~tgage~e may, at its option exhaust any one or more of said sec~rrit:es and the securit}• hereunder or such parcels of the security hereunder, tither concurrently or independently, and in such order as it may determine.- - ' 23. Without affecting the liability of the Mortgagor or any other person (except any person expressly released in writing) for pay- ment of any indebtedness secured hereby or for performance of any obli{tation contained herein, and without affecting the rights of the Mortgagee with respect to any securit}• not c.~cpres-sly mleased in writing, die `Eortgager may, at any time and from time to time; either bee ~ fore or after the mah~rity of said note and without notice and content: r ~ (a) Release. any person liable for payment of all or any part of the indebtedness err for performance of any obligation. (b) Make any agreement extending the time or otherwise, altering the terms of payment of all or any part if the irrdebted- 'j Hess or modifying or waiving any obligation or suh~dinating, mcxiif}•ing or otherwise dealing with the ban or charge ( hereof. (c) Exercise or refrain from exercising or waive any right the Mortgagee may have. (d) AccCpt additional security of any kind. (e) Release or otherwise deal with any property, real or personal, :saving the indebtedness, including all or any part of j the property mortgaged hereby. - 24. Any agreement hereafter made by \tortgagar and Mortgagee pursuant to this mortgage shall be superior to the rights of holders of any intervening lien or encumbrance. 25. In the event there exists any inconsistency between the provisioru of this mortgage and the provisioru of any superior mortgage, the prrnisions of the superior mortgage shall presail. i:othing contained in this mortgage shall be construed in such manner as to constitute a violation of any provision of any superior mortgage: and nothing contained in this mortgage shall be deemed or construed to entitle mort- gagor or authorize the mortgagee to do any act or thing which would constitute a tiolation of any covenant or agreement of mortgagor contained in any superior mortgage. 28. It is agreed that if any of the property herein mortgagorl is of a nature so that a security interest therein ran be perfected under the Uniform Commercial Code, this instn~ment shall constitute a security agreement and Mortgagor agrees to join with lliortgogee in the execution of any financing statements and to exec7dc any other instruments that may be required for the perfection or renewal of such see curity interest under the Uniform Gxnmercial Gale. A Satisfication of this mortgage, when recorded, shall constitute a satisfaction of any financing statement filed in connection with this instrument, or renewal thereof. i 27. In addition to the obligation described above as evidenced by the promissory note, this mortgage is given to secure any and all ) obligations from the Mortgagor to the Mortgagee by virhie of any security agreement, pmmissorv note or other agreement between ;?fort- gagor and Mortgagee and far all obligations of \lortgagor to ~tortgagce, contingent or absolute, direct or indirect, regardless of however err whenever created. - r 28. The provisions hereof shall be binding upon the Mortgagor and the heirs, devisees, personal representatives, successors and as- i signs of the Mortgagor, as the case may be, and inure to the benefit of the Mortgagce and the heirs, desires:, personal representatives, successors and assigns of the Mortgagee; as the case may be. Where more than one Mortgagor is named herein, the obligatioru and liability s of said Mortgagor shall be joint and retreat. ~ 29. That, in order more fully to protect the security of this mortgage, I?iortgagor, together with, and in addition to, the monthly pay- meets under the terms of the note secured hereby, on the sperific+d date of each month until the said note is fully paid, will pay to Mort- gagee the following sums: (a) An installment of the taxes and assessments levied or to be levied against the premises covered by this mortgage; and an installment of the premium or premiums that will become due and payable to renew the insurance on the premises covered hereby -against lass by Eire, and windstorm, or such other hazard as may reasonably be required. Such install- mrnts shall be equal, respectively, to one-twelfth (I / 12th) of the estimated premium or premiums for such insurance, i aooK 3U2 rd~:f 2260 - _ - » ~ - t