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HomeMy WebLinkAbout2366 . , • M. therein, including, but not limited to, eminent domain and bankruptcy or reorganisation proceedings, then Mortgagee, at its option, may pay said claim, lien, encumbrance, tax. assessment or prem?um, with right of subrogation thereunder, may make anch repairs and take such steps as it deems advisable to prevent or cure such waste, and may appear in any such action or proceeding and retain counsel therein. and take such action therein as Mortgagee deems adv?sable. and for any of said purposes Mortgagee may advance such sums of money. including all coats. reasonable attorney's tees and other items of expense as it deems necessary. Mortgagee shall be the sole judge of the legality. validity and priority of any such claim, lien, encumbrance. tax, assessment and premium, and of the amount necessary to be paid in satisfaction thereof. llfortgagee shall not be held accountable for any delay in making any such payment, which delay may result in any additional interest. coats. charges or expense otherwise. 10. Mortgagor will pay to Mortgagee. immediately and without demand, all sums of mousy advanced by Mortgagee Qurauant to th?a mortgage, including all costa. reasonable attorney's fees and other flame of expense, together with ?merest on each such advancement at the rate of ten per cent, (10!4) per annum, and all such sums and interest thereon shall be secured hereby. 11. All soma of money secured hereby shall be payable without any relief ~•hatever from any valuation or appraisement laws. 12. If default be mode in payment o[ any installment of principal or tote?•est of said note or any part thereof when clue, or in payment. when due, of any other sum secured hereby. or ?n performance of any of Mortgagor's obligations, covenants or agreements hereunder, all of the indebtedness secured hereby shall become and be immediately due and pay able at the option of Mortgagee, without notice or demand which are hereby expressly waived. in which event Mortgagee may avail itself of all rights and remedies, at taw or in egoity, and this mortgage may be foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costs, charges and expenses thereof, including a reasonable attorney's fee. 13. If default be made in payment, when due, of any indebtedness secured hereby, or in performance of any of Mortgagor's obligations, covenants or agreements hereunder: (a) Mortgagee is authorized at any time, without notice, in its sole discretion to enter upon and take possession of the premises or any )?art thereof. to perform any acts Mortgagee dee?ns necessary or proper to conserve the security and to collect and rece?ve alt rents, issues and profits thereof, including those past. due as welt as those accruing thereafter, •and (b) Mortgagee shall be entitled, as a matter of strict right and without regard to the value or occupancy of the security, to have a receiver appointed upon ex parts motion to enter upon and take possession of the premises, collect the rents and profits therefrom and apply the same as the court may direct, such receiver to have all the rights and powers permitted under the laws of Florida. In either such case Mortgagee or the receiver may also take possession of, and for these purposes use, any and all personal property contained in the premises and used by Mortgagor in the rental or leasing thereof or any part thereof. The expense (including receiver's fees. counsel fees. costs and agent's compensation) incurred pursuant to the powers herein contained shall be secured hereby. Mortgagee shall (after p:yment .of all costs and expenses incurred) apply such rents, issues and profits received by it on the indebtedness secured hereby in such order as Mortgagee determines. The right to enter and take possession of said property, to manage and operate the same, and to collect the rents, issues and profits thereof, whether by a receiver or otherwise. shall I,e cumulative W any other right or remedy hereunder or afforded by law, and may be exercised concurrently therewith or independently thereof. Aortgagee shall be liable to account only for such rents, issues and profits actually received by Mortgagee. la. If the indebtedness secured hereby is now or hereafter further secured by chattel mortgages, security interests, pledges, contracts of guaranty, assignments of leases, or other securities, or if the premises hereby encumbered con- sists of•more than one parcel, Mortgagee may at its option exhaust any one or more of said securities and security hereunder, or such parcels of the security hereunder, either concurrently or independently, and in such order as it may determine. 15. Upon request of Mortgagor, Mortgagee may, at its sole option, from time to time before full payment of all indebtedness secured hereby, make further advances to Mortgagor; provided, however. that the total principal secured hereby and remaining unpaid, including any such advances, shall not at any time exceed the original principal sum secured hereby.. Mortgagor .shall execute and deliver to Mortgagee a note evidencing each and every such further advance which Mortgagee may make. such note to be payable on or before maturity of the indebtedness secured hereby and to contain such ternis as Mortgagee shall require. Mortgagor shall pay all such further advances with interest, and the same, and each note evidencing the same, shall be secured hereby. Alt provisions of this mortgage shall apply to each further advance as well as to all other indebtedness secured hereby. Nothing herein contained, however, shall I'i limit the amount secured by this mortgage if such amount is increased by advances made by Jortgagee as herein ~ elsewhere provided for to protect the security. The word "Alortgagor" as used in this paragraph, includes any successor in ownership of the premises. ~ 16. This Florida Mortgage and Security Agreement shall be construed as a mortgage of both real and personal ~ property and shall constitute and serve as a "Security Agreement" within the meaning of and create a security interest under Florida's Uniform Commercial Code, the secured party being herein referred to as "Mortgagee" and Debtor being herein referred to as "Aiortgagor." The Jlortgagor agrees to and shall execute and deliver to Aortgagee such "Financ- ing Statements"•and such further assurances as Mortgagee may, from time to time, consider necessary to create, per- feet and preserve the Aiortgagee's liens upon all rents, insirance proceeds, condemnation awards, fixtures, equipment, ~ and other personal property herein described and'all additions, substitutions, replacements and accessions thereto, and ~ all proceeds of its or their sale or other disposition. The Mortgagee, at the expense of Mortgagor, may cause such Fi- nancing Statesments and assurances to be recorded and re-recorded, filed and re-filed, and renewed or continued, at such times and places as may be required or permitted by law to create, perfect and preserve such liens. In the event 3iortgagor fails to promptly execute and return to Mortgagee such Financing Statements as- Mortgagee may require to create. preserve and perfect its lien, Mortgagor shall and does hereby designate Mortgagee to act as Mortgagor's agent for the sole and limited purpose of executing such Financing Statements and any such execution by Mortgagee pursuant to this Agreement shall be effective and binding upon Mortgagor as though executed originally•by Mortgagor. Jlortgagor's designation as agent hereunder shall not be subject to revocation until the A'ote securing this Florida Uortgage and Security Agreement is paid in full. The Mortgagee shall have all the rights, with respect to all property encumbered hereby, afforded to Mortgagee under the Florida Uniform Commercial Code in addition to, but not in limi- tation of, the other rights afforded the Jortgagee by this mortgage. The Alortgagor shall not transfer ownership of or remove from the premises any of the personal property or fixtures encumbered by this Florida Aortgage and Security Agreement. In the event ownership of any personal property or fixtures is removed by Jlortgagor, the same shall be immediately replaced by other personal property or fixtures of a similar type and character in which title is vested in Mortgagor and which are tree and clear of any lien or encumbrance, and such substituted or replacement property shall be of equal or greater value than the personal property or fixture so transferred or removed. Such after-acquired re- placement or substituted personal property or fixture shall be encumbered by the lien of this Florida Mortgage and d Security Agreement, and if appropriate or desired by Mortgagee, new Financing Statements covering the same shall ( be executed by Mortgagor and forwarded to Mortgagee with the cost of recording the same. 17. In the event that Alortgagor, any successor owner of the premises, or of any interest therein (including any joint venturer or general partner of Alortgagor or any such successor owner as may be a joint venture or general or limited partnership) shall file, or there shall be filed against Jlortgagor, such successor owner, or person, joint ven- ( turer, or general partner, during the term of this Mortgage, a petition in bankruptcy or insolvency or a petition or { answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under the bankruptcy laws of the United States or under any other applicable Federal, state or other statute or law, or a receiver, truskee or liquidator shall have been appointed with respect to Mortgagor, any such successor owner, or person, joint venturer or general partner or all or any substantial part of such Mortgagor's, owner's, person's, joint venturer's or general partner's property, then in any such event Mortgagee may. at its option, declare the principal of the Note hereby secured and then outstanding to be due and payable immediately; and upon such declaration the said principal, so declared to be due and payable, together with the interest accrued thereon, and together with any other sums secured hereby shall become and be due and payable immediately, without alleging or showing any impairment of Mortgagee's security, anything in this mortgage or in said Note to the contrary notwithstanding. 18. Mortgagor shall provide to Mortgagee, within ninety (90) days after the end of each fiscal year of Mortgagor (or calendar year if Mortgagor has no fiscal ye~t•), swpprn ite?ii~ zed statement of annual income and ezpenssr~~ of, or ~ related to, the Mortgaged Premises. Annual B~aLe>rIeDLB Bhall include a per80Da1 financial Btate>.ent and an Incoloe and $xpense 8tateaent, the latter to include boxes of fruit sold by variety. e~~ ~t~~ 30Rt ~ PACE ~.e71~! ,