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Home My WebLink About1315 , + income, profits, isSUes ond ~evenues are hereby rt?~rt~oged os if spetifitally Set fo~th ond destribed in fhe yranting ond hobendum clouses hereof, ond suth reteiver sholl iwve all the brood ond effettive functions ond pdwers in any wise entrusted by o tourt to a ; reteive~, ond suth oppointment sFwll be rtwde by wth court os o~ odmitted equity and o motter of obsolute right i~ the Mort~ee, ond without ~efe?ence to the odsquucy or inodequocy of the volue of the prope.ty mo?tgoged, or to the solvency or insolvency of the Mortgogor ond/o~ the defendont ar~d such rtnts, profits, income, issues cnd reven~~es shall be opplied by the receive~ octording ~ to the lien and/a equity of this nwrt~age and the prxtice of such court, and such oppointment of receiver shall be without notice to ony obli9cx hereunder. i NINTH: The Mo~tgogo? he~eby woives otl rights of homestead ond extmption gronted by the Constitution ond lows of ; Florido. It is spetificolly ogreed thot time is of the essence in this controct ond thot no woiver by the Nbrtgc~gee of ony obligotion hereunder or of the obli9otion setured hereby shall ot ony time fhereofter be held to be o woiver of the terms hereof or of the ' ~ obligotion setured hereby. s ~ TENTH: If all o~ ony port of the obove described properry or on interest therein is sold or tronsferred by the Mortgogor, ~ or his successor in interest, without the Mortgogee's prior written consent, excluding (o) the creation of o lien or entumbe~ente ~ subordinote to this mortgoge, (b) the creotior~ of o purchose money seturity interest for household oppliontes, (c) a t~onsfer by devise, destent or by operation of low upon the deoth of a joint tenont, or (d) the grant of ony leasehold interest of three yeors ~ or less not containing an option to purchose, the Mort9ogee may, ot the Mortgogee's option, detlare all the sums setured by this mortgoge to be immtdiotely due o~d poyoble. The Mortgogee sholl hove waived suth option to atcelerote if, prior to the sole or ~ transfer, the Mortgogee ond the person to whorn the obove-destribed prope?ty is to be sold or tronsferred reoch agreement in writ- ~ ing thot the credit of such person is sotisfoctory to the Mortgagee ond that the interest poyoble on the sums secured by this ~ mortgoge sholl be at such rate os the Mortgogee shall request. ~ 3 ~ ELEVENTH: If foreclosure proceedings of any second mortgage or second trust deed or ony ~unior lien of ony kind should 3 be instituted, the Mortgogee moy, at its Option immediotely or t!~ereofter detbre this mortgage ond the indebtednes5 5ecured here- ~ by due ond poyable. , TWEIFTH: TFwt in the event the premises hereby mortgoged, or any part thereof, shall be condemned and token for public use under the power of emine~t domain, the Mortgogee shall hove the right to demond thot oll domoges owa~ded for the toking of or domoges to said p~emises sholl be poid to the Mortgogee, up to the omount then unpoid on this mortgage and the obligotion 4 setured hereby and may be opplied upon the payments lost Qoyoble under this mortgage ond the obligation secured hereby_ _ THIRTEENTH: Thot installments, poyoble under the terms hereof and the note secured hereby, not poid whe~ due, sholl be wbject, ofter fifteen (15) doys from the due dote thereof, to,ond it is ogreed Mortgagee sholl collect thereon ond therewith, o"lote chorge" in the omaint of four per tent (496) of the installment due upon eoch such delinquent instollment, ond such "lote chorges" ore secured by the lien hereof. FOURTEENTH: Without impairing the obligations of Mortgogor contained in porogrophs SECOND, THIRD ond FOURTH ' hereof, ond for opplicution to the purposes thereof insofor as the same sholl be sufficient, Mortgogor shall, in adddition to the ~ montFily poyments of principal ond inte~est os stated in the original note (ond in the note or notes secured hereby) provided to be made, poy o monthly wm ond omount equal to one-twelfth (1 /12) of the estimated onnuol taxes, ossessments ond insuronce premiums upon the real estute security, os the amount thereof is determined from time to time by the Mortgogee. ; FIFTEENTH: Thot the Mortgogor shall furnish onnuolly, ot the request of ihe Mortgogee, finunciol stotements in form f and certified in o manner satisfactory to the Mortgogee. E ~ SIXTEENTH: This mortgoge secures on existing indebtedness ond olso secures any ond oll renewals ond extentions of the promissory note referred to herein and setured hereby, and oll instullments thereof, and also ony other note which moy hove been ~ or may hereoher be given to the Mortgogee by the Mortgagor, ond ony other indebtedness of the Mortgogor to the Mortgagee, ~ ond this mortgoge is olso intended to be ond is o mortgoge to secure poyment of ony and oll future or odditionol advances made . ~ by the Mortgogee at its option to the Mortgogor, or his successor in title, for ony purpose, to the some extent as if such future or additionol advonces were mode on the dote of the execution of this mortgoge, although there may be no odvance rr~de ot the time of the execution of this mortgoge ond olthough there may be no indebtedness outstonding ot the time any odvance is mode. All wth advantes ore to be made within twenty yeors from the dote of this mortguge, or within such lesser period of time os moy be provided hereofter by fow os a pre-requisite for the sufficiency of actuol notice or record notice of the option of future or addi- tionol odvonces os against the rights of creditors or subsequent purchasers for voluoble consideration. The totol indebtedness se- ~ wred by this mortgage may decreose or increose from time to time, but the totol unpoid balonce so secured at any one time sholl ~ not excesd o mnximum principal omount of _ ----SIX HIR~IDRF.D ~TI'Y FIVE_ Z~IOUS~ND ArID~100 (S 625L000.00 _ ) r plus interest thereon, ond ony disbursements rrwde for the poyment of Toxes, levies or insurance on the property covered by the ~ lien of this mortgoge, with interest on such disbursements. ~ : Provided this mortgage is not in default, Mortgagee upon ~ request from Mortgagor and payment to Mortgagee of the sum of $70,000.00 ~ each, shall release from the lien of this mortgage any unit constructed ; ~ upon the mortgaged premises. Upon receipt of the release price for each ~ ~ lot, the mortgagor shall deliver a recordable instrument releasing the ~ lot but shall not pay for the cost of recording the release. ~ EIC~~i: 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. ~ ' "R3~.2 PAGE~313 , 60~1K 3 ; i -3- ;