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irsoortre, proflb, issws and revenws are Mreby mortgaged as if specifically set forth and described in the granturq and hobendum
douses Mreof, and such receiver shall hove oU the brood and effective functiw+s and power M any wise entrusted by a court to 0
receiver, and :udt appointment shall be mode by such court as on admitted equity and a matter of absolute right in the Mortgagee,
aced wiMouf reference ro tM adequacy or inadequacy of the voles of the property nartgaged, or ro tM solvency or insoh?ency of
the Mortgagor and/or the defendant and such ants, Profits, inowne, issues and avenues shall be applied by the receiver according
b 1M lien and/or equity of this mortgage and the practice of such court, and such appointment of receiver shoN be without notice
ro arty obligor Mreunder. -
• NMITFI: The Mortgagor hereby waives all rights of homestead and exemption granted by`the Constitution and lows of
Fbrida. k b speoifkally agreed that time is of the essence in this ax?trad and that no waiver by the Mortgagee of any obligation
hereunder or of the obligation setvred Mreby shall at any time 1Mreafter be held ro be a waiver of the terms hereof or of the
obligation seared hereby.
-TENTH: Upon any sale, transfer a conveyance of the property herein described and covered by this mortgage b any
persoq, Rmr or oorporotion, not previously approved in writing by Nre holder of this mortgage, the Mortgagee or holder shall hors -
the right ro oaelerate the moturiry of this mortgage as though it were due and payable on the day of such transfer and to demand
payment in full of the sold mortgage amount or any unpaid balance thereof, and ro exercise all the rights and remedies herein or
by low reserved ro said Mortgagee the same as en any event of defouN hereunder, onythir+q in the promissory note secured
hereby or herein ro the a~ntrary nothwithstandinq. -
BEbEMTH: ff foreclosure proceedirps of any second mortgage or second tent deed or any junior lien of any kind should
be instituted, the Mortgages may, at its option immediately or thereafter declare this mortgage and the indebtedneu seared
hereby due and payable. -
T1NEtFTH: That in the event the premises hereby narfgoged, or any part thereof, shall be condemned and token for public
use under the power of eminent domain, the Mortgagee shall have the right ro demand that all damage: awarded for the taking #
of or damages ro said premises shall be paid ro the Mortgagee, up ro the amount then ur~oid on this mortgage and the obligation
seared hereby and may be applied upon the payments lost payable under this mortgage and the obligation soared hereby.
- THIRTEHrTFf: That installments, payable under the terms hereof and the note seared hereby, not paid when.due, shall be
subject, after Afteen (15) days from the due dote thereof, % and if is agreed Mortgagee shall aollad thereon and therewith, 4
"late darge" in the omourr: of four per cent of the installment due upon eadr such delinquent installment, and such "lots
dwrges' are seared by the lien hereof. -
FOURTEENTH: WitMut impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH
hereof, and for application ro the purposes thereof insofar as the same shall be sufficient, Mortgagor shall, in addition fo the
monthly poymenh of principal and interest as slated in the originot note (and in the note or notes soared hereby) provided ro be
made, pay o monthly s:,-ns and aniowit equal ro area-twelfth (1/l~) of the estimated amual taxes, assessments and inwronce
premiums upon the real estate security, as the omvunt thereof is determined from time b time by the Mortgagee. -
RFTEENTH: That the Mortgagor shall famish annually, of the request of the Mortgaagee, financial statements in form and
certified in o manner satisfactory ro the Mortgagee,
SIXT~lTH: This mortgage also wares any and all renewals and extensions of the promissory note referred to herein and
seared hereby, and all iiistallmenfs thereof, and also any other notes which have been or may be given b the Mortgagee by the
Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee whidr, however, shall not exceed at any one time
the aggregate unpaid principal sum of Two Hundred Thousand and no/100 - - - - - - - - ~ - - - - - -
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - _Ddlon It 200,000.00 )
it being the speafk intention that further advances may be made by the Mortgagee at its option to the Mortgagor, either prior to
a after the due dates of the above referred to promissory note hereby secured; and this mortgage is given for the specific
• purpose of searing airy and all indebtedness by the Mortgagor b the Mortgagee in whatever manner the same may be evi-
denced or represented, until this mortgage is satisfied of record; and afl covenants and agreements contained in this"mortgage
shag be applicable ro ail further and fuhmre advances made by the Mortgagee to the Mortgagor and all other indebtedness of~
Mortgagor ro the Mortgagee, and any and aN renewals or extensions thereof.
17. Mortgagor acknowledges that this mortgage is not assumable and
that should the nbrtgagor sell, transfer or convey his interest in the
land secured by this mortgage, that the mortgagee may; at its option, 1
declare all sums secured by this mortgage and mortgage note to be
immediately due and payable, -
18. The terms and conditions of that Loan lgreement between the Mortgagor
and First American Bank of Palm Beach Cotintybearing even date are incor-
porated herein Dy reference and a breach or default of any of the terms
and conditions of that agreement shall constitute _a default of this mortgage.
-3, 8QOK317 P~cE 517