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HomeMy WebLinkAbout0136 _ . .rr. _ _ , s income, Profits, issues and revenues ore hereby mortgaged os if specifically set forth and described in the grouting and hobendum - j clou3es hereof, and such receiver shall hove all the broad and effective functions and powers in anyyvise entrusted by o court fo o receiver, and such oppaintq?ant shall be mode by such court os on admitted equity and o matter of absolute right in the Mortgagee, and without referents ro the, adequacy or inodequory of the value of the property mortgaged,-or ro the solvency or insolvency of j the Mortgagor and/or the defendant and such rents, profits, income, issues and revenues shall be applied by the receiver according ~ . to the lien and/a equity of this mortgage and the practice of such court, and such appointment of receiver shall be without notice ~ to any obligcx hereunder. ~ ~ _ - i , NINTH: The. Mortgagor hereby wolves all rights of homestead and exemption granted by the Constitution and lows of ~ Florida. It is specifically agreed that time is of the essence in this cont?~ct and tlwt no waiver by the Mortgagee of any obligation hereunder or of the obligation secured hereby shall of any time thereoher be held to be o waiver of the terms hereof or of the _ _ obligation secured hereby. ; TENT FI: if all or any port of the above described property or on interest therein is sold or transferred by the Mortgogar, or his successor in interest, without the Mortgagee's prior written consent, excluding (o) the eresotion of o lien or encumberonte subordinate to this mortgage, (b) the creation of o purchase money security interest for household appliances, (c) o transfer by devise, descent or by operation of low upon the death of o joint tenant, or (d) the grout of any leasehold interest of three-years t or less not conroining an option to purchase, the Mortgagee may, at the Mortgagee's option, declare all the wms secured by this mortgage ro be immediately due and payable. The Mortgagee shall hove waived such option to accelerate if, prior to the sole or transfer, the Mortgagee and the person to whom the above-described property is to be sold or transferred reach agreement in writ- ing that the credit of such person is satisfactory to the Mortgagee and that the interest payable on the sums-secured by this " mortgage shall be of such rote os the Mortgagee shall request. ELE1/ENTH: if foreclosure proceedings of any secor?d morteoge_or second trust deed or any junior lien of any kind should- be instituted, the Mortgagee may, at its option immediately or thentofter declare this mortgage oral the indebtedness secured here-_ by due and payable. _ TWELFTH: That in the event the premises hereby mortgaged, or any port thereof, shall be condemned and roken for public use under~he power of eminent domain, the Mortgagee shall have the right to demand shot all damages awarded for the taking s 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 lost payable under this mortgage and the obligation secured hereby. i THIRTEENTH: TFwt insrollments, payable under the terms hereof and the note secured hereby, not paid when due, shall br. subject, offer fifteen (15) days from the due dote thereof, to,orx! it is agreed Mortgagee shall collect thereon and therewith, a "late charge" in the amount of four per cent (496) of the installment due upon each such delinquent installment, and such "tote ctwrges' =are secured by the_ lien hereof. - FOURTEENTH: Without impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH hereof and for opplicotion to the purposes thereof insofar os the same shall be sufficient, Mortgagor shall, in odddition to the mouthy payments of principal and interest os stated in the original note (and in the note or notes secured hereby) provided to be mode, pay o monthly sum and amount equal to one-twelfth (1/12) of the estimated annual taxes, assessments and insurance premiums upon the real estate security, os the amount thereof is determined from time to time by the Mortgagee. 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. SIXTEENTH: This mortgage secures on existing indebtedness and also secures any and all renewals and extentions of the promissory note referred. to herein and secured hereby, and qll installments thereof, and also any other note which may hove been or may hereafter be given to the Mortgagee by -the Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee, and this mortgage is also intended to be and is a mortgage to secure payment of any and all future or odditior?ol advances mode 5y the Mortgagee at its option to the Mortgagor, or his successor in title, for any purpose,. to the some extent as if such future or additiarwl advances were mode on the dote of the execution of this mortgage, although there may be no advance mode at the time of the execution of this mortgage and although there may be no indebtedness owtstanding at the time any advance is made. i All such advances are to be mode within twenty years from the date of this mortgage, or within such lesser period of time as may be provided hereoher by low os apre-requisite for the sufficiency of actual notice or record notice of the option of future or oddi• I !lanai odvonus os against the rights of creditors or subsequent purclwsers for valuable consideration. The total indebtedness se- cured by this mortgage may decrease or increase from time to time, but the total unpaid balance so secured of any one time shall not exceed o maximum principal amount of 0~ SEV~ ~ FIFTY ND~100-----~--- (s 1,750.00 ) plus interest thereon, and any disbursements mode for the payment of foxes, levies or inwronce on the property covered by the lien of this mortgage, with interest on such disbursements. t t i - - i 80~3~.7 i~ _ -3- ~ _