HomeMy WebLinkAbout1435 ,ucn?ing thirrulx?n shall, upon default of the ~lortgagur of any of the terms of the Mortgage Deed or the promissory
cotes hereby sc~curecl, be considerc•ci as trust funds, and if collected by the Mortgagor the same shall constitute trust
funds and be held in trust for the use and benefit of the Mortgagee, and forthwith delivered upon collection to said
\lortgugc•~•. The Mortgagee is excc?secl from giving or filing any bond in a judicial pmoaeding as required by statute
or rules of rnurt as condition or prerequisite to the appointment of a receiver, issuance of injunction, attachment,
garnishment or other provisionu) remedy, or supcrsedeaz in the event an appeal is taken by the Mortgagee. The
\lortg:?gor irrevocably waives such statutory or rule requirements relating to bond.
13. No person liable for the debt hereby secured, whether such liability is primary or secondary, and whether
s??ch liability is created by endorsement of the notes or az joint maker of the notes, or guarantor, or Having assumed
the obligation to pa}• said mortgage debt or otherwise liable for said mortgage debt, shall be released. or discharged
from liability of t c aforesaid debt by virtue of anyy extension or renewal granted by the Mortgages to the maker of
tl?e notes hereb}• secured, or any other person liable~.for said debt, whether primary or secondary. The I~fortgagee
is hereb''• expressl}• granted the right and power to grant such extensions to the makers of the notes hereby secured
:is s;?ici \lortg:?gee may deem :?clvisable, without first obtaining the consent of an other person liable for said debt,
whether primary or secondary, and to take such renewals of the notes and debt hereby secured az said Mortgagee
may deem advisable, without first securing the consent of any other person liable for said indebtedness. No delay
in the enforcement by the Mortgagee of any of the rights of said I?lortgagee arising by virh?e of this IViortgage Deed
r :u?d promisory notes hereb}• secured shall operate az a release or discharge of any person liable for the debt hereby
secured, whether primary or secondary.
14. In the event of the Mortgagor's default in the performance of any of the terms and provisions of this
mortgage or the promissory notes hereby secured, the 1liortgagor irrevocably appoints the Mortgagee purposes: (a )
to enter upon and take posession of, for the account of the Mortgagor, the mortgaged premises and property here-
by encumbered (including but not limited to the rents, profits and income accruing therefrom) until such time as
said propert}•, including rents, profits and inrnme, is taken into actual custody by the court az provided in Para-
~raph 11 hereof, and out of such rents, profits and income, to pay all obligations of the Mortgagor az herein defined,
in the order which the Mortgagee may determine; such acts of the Mortgagee shall not be rnnstrued as a waiver of
default or estoppel :?gainst the Mortgagee to exercise all other rights and privileges herein rnnferred upon the Mort-
~;agee; (b) to take possession of all tangible .personal property is taken into actual custody by the court, as provided
in P:~ragr:tph 11 i?ereof. All costs and expenses thus incurred by the Mortgagee shall lie paid by the Mortgagor and
secured by the lien of this mortgage.
15. In the event the jurisdiction of the U. S. District Court shall be invoked by or against the I14ortgagor
ender an - of the Chapters or provisions of the Chandler Act (11USC), such action, whether voluntary or involun-
tary on the part of the Mortgagor, shall automatically, without notice, accelerate the maturity of all sums of money
herein described- and secured, and the same shall thereupon become due and payable forthwith az fully az if the said
?ggregate sums of money were originally stipulated to be paid on such debt. Such rnurt upon mere motion of the
Mortgagee shall forthwith without delay proceed in a summary manner (the most ex~edthous way allowable by
General Orcler 18, 11 L'SC 9.1 (a) (4) to sell the property herein encumbered and apply the proceeds of such sale
in satisfaction of the debt hereb}• secured, and if such proceeds be insufficient to discharge such debt, the :Mortgagee
,hall have the right to participate in the distribution of other assets of the Mortgagor.
16. The \[ortgxgor agrees that it will not direetl}• or indirectly, voluntarily or involuntarily, suffer, allow or
F~ermit an}• consensual or nonconsensual or statutory- of judicial lien to attach to the real, personal or intangible per-
u~nul properly hcreb~- rncumhered by this Mortgage Deed.
17. In the event the real property encumbered by this mortgage shall be wholly or partially taken by the
utilization of power of eminent domain, at bank's option such taking shall automatically without notice mature the
entire debt hereb}• secured, and the compensation awazded the owner in such proceedings shall be paid to the
Mortgagee and applied pro tanto in payment of the principal, interest, expenses and reasonable counsel fees due'
the Mortgagee as herein provided.
i
I1 WIT\ESS \VHEREOF, the Mortgagor has caused this indenture to be executed the year and day first
above written.
Signed, sealed and delivered
in our presence:
5
E i~ '
(SEAL)
/ - - R. Maca
- (SEAL )
irley S. cart .
- - - - (SEAL )
1
- - - (SEAL )
fi
STATE OF FLORIDA
- COUITY OF BROWARD
s I HEREBY CERTIFY that on this da}•, before me, an officer duly authorized in the State aforesaid and in the ,
y Cnnnl• afomsaid, to take acknowledgements, personally appeared JOHN R. MACARI and
_ SHIRLEY S. 1!4ACARI, his wife,
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h, mc• known to Ix• the persons described in and who executed the foregoing instrument and they acknowledged -
hc•Forc me that they executed the same.
W IT:~ ESS my hand and official seal in the County and State last aforesaid than .da,)da~.•':,Apr].L-,
~ 4 .
_ ` :Y -
IldfAlr SIC RA1E ~ Ilal~ll AT MIv `~t-C .[J - : ~ ~ f ~ ~i.t~ ~ ` _
M Nota Public 'i _ -
~ O~Ittfi OEC . S 1010 rY ` -
~ ~ ~ AZy Commission Ezpi~•~. ~ Q ' c~Y
3U6 ~E1434
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