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_ / .461942 ~~t.E7 rC.^, r ~:';a~
Recslwd i1 ~ t •~n In Payment of T •'i~ :C) j'A ;c A'OVE
C Intangible Perrnal Propert arras ~ as ' ~ ` ; ~ ,
taws of Florida, Acts of 1941. Purw~nt to Chapter 2072 ~ - J
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clerk of Grc~it court ~FIIED '•1.: ~~'t ;;~:;;;:u
Indian Rivq County, Florida :[~LUC'i ~'Vi Y.F' A. r~. _ i '..'.:.;riT
~ ~t~i~R_rU1fRAS! ~.LEic;~
~~.'(~vl~ DtputvClltt! lLERltClr.'.'~J'1CQUf~T ~ 11~:J.AV.RIV;.2~CrJ, t r
t0, That, the Mortgagee shall have the right, at its option, to advance the Afortga~r~itiooaLmo~ies- so,4gn~as such advances,
together with the unpaid principal balance due on the note secured by this mortgage, do not exceed the original principal indebtedness
secured hereby, and the amount so advanced shall become a debt due hereunder and secured hereby.
11, To perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants in said promissory
note and this mortgage,
12, To permit, commit; or suffer no waste, impairment, or deterioration of said property or arty part thereof; and in the event of the
failure of the Mortgagor to keep the buildings on said described property and those to be erected on said described property, or
improvements thereon, in good reNdir, the t~lorigages:ray n;ake and pay for such repairs as in its discretion it may deem necessary for the
proper preservation thereof, and the full amount of wch payments shall be secured by the lien of this mortgage and shall at the option of
Mortgagee be immediately due and payable.
13, That, if any of the sums of money herein referred to be not promptly and fully paid within thirty (30) days next after the same
severally come due and payable, or if each and every the stipulations, agreements, conditions, and covenants of said promissory note and
this mortgage, or either, are not duly performed, complied with and abided by, the aggregate sum mentioned in said promissory note and
dny other amount a amounts added to the mortgage indebtedness under the terms of this mortgage shall become due and payable
forthwith or ihereaher at the option of the Mortgagee, as fully and completely as if said aggregate sum of money was originally stipulated
to be paid on such day, anything in said promissory note or herein to the contrary notwithstanding.
14, That, in the event of a suit being instituted to foreclose this mortgage, the Mortgagee shall be entitled to apply at any time
;~ertding such foreclosure suit to the court having jurisdiction thereof for, and obtain without notice, the appointment of a receiver for atf
and singular the mortgaged property, and of alt the rents, incomes, profits, issues, and revenues thereof from whatsoever source derived;
and thereupon it is hereby expressly covenanted and agreed that the court shall forthwith appoint a receiver of said mortgaged properly,
alt and singular, and of such rents, incomes, profits, issues and revenues thereof, from whatsoever source derived, with the usual powers
a;,d duties of receivers in like cases; and such appointment shall be made by wch court as a matter of strict right to the Mortgagee
tivithout reference to the adequacy or inadequacy of the value of the property hereby mortgaged or to the solvency or insolvency of the
`:?ortgagor or any other party defendant to such suit, and that wch rents, profits, incomes, issues and revenues shall be applied by such .
receiver to the payment of the mortgage indebtedness, costs and charges, according to the order of such court,
15. That, in the event the property hereby mortgaged, or any part thereof, shall be condemned and taken for public use under the
power of eminent domain, the Mortgagee shall have the right to demand' that all damages awarded for the taking of or damages to said
;>roperty shall be paid to the Mortgagee, up to the amount then unpaid on this mortgage and at the option of the Mortgagee, may be
applied upon the payment or payments last payable hereon. The Mortgagor shall also repay unto the Mortgagee a reasonable attorney's
fee, (through appellate proceedings}, which the Mortgagee may have incurred in such proceedings.
16. That, it is specifically agreed that time is the essence of this mortgage and that no waiver of any obligation hereunder or of the
rbligation secured hereby shall at any time thereafter be he{d to be a waiver of the terms hereof or of the obligation secured hereby. -
17, That, if foreclosure proceedings of any second mortgage or second trust deed or any junior lien of any kind should be instituted
gainst the property secured hereby, the Mortgagee may, at Lhe option of the Mortgagee, immediately or thereafter declare this mortgage
.end the indebtedness secured hereby due and payable forthwith.
i 8. That, to the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby the Mortgagee is
~~ereby sub?ogated to the lien or liens and to the rights of the owners and holders thereof of each and every mortgage, lien or other
-;ncumbrance on the land described herein which is paid and (or) satisfied, in whole or in part, out of the proceeds of the loan described
r-.erein or secured hereby, and the respective liens of said mortgages, liens or other encumbrances, shall be one and the same and each of
?hem hereby is preserved and shall pass to and be held by the Mortgagee herein as security for the indebtedness to the Mortgagee herein
described or hereby secured, to the same extent that it would have been preserved and would have been passed to and been held by the
".?ortgagee had it been duly and regularly assigned, transferred, set over and delivered unto the Mortgagee by separate deed of assignment,
-.~;tvrithstanding the fact that the same may be satisfied and cancelled of record, it being the intention of the parties hereto that the same
,.~!i be satisfied and cancelled of record by the holders thereof at o? about the time of the recording of this mortgage,
19. That, if the Mortgagor shall furnish unto the Mortgagee an abstract or abstracts of title covering the mortgaged property, said
at~stracts shall at all times, during the term of this mortgage remain in the possession of the Mortgagee and in the event of the foreclosure
of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title
end interest of the Mortgagor in and to any such abstracts of title shall pass to the purchaser or grantee.
20. That, partial releases of portions of the mortgaged property from the lien of this mortgage may be granted by the Mortgagee
~:~+thout such partial releases of mortgage operating as a release of the liability of any of the makers of the promissory note secured
h. reby, or any persons becoming liable for the payment of said promissory note by operation of law or otherwise,
21. That, in the event the jurisdiction of the U¦S. District Court shall be invoked by or against the Mortgagor under any of the
previsions of the Federal Bankruptcy Act, such action, whether voluntary or involuntary on the part of the Mortgagor, shall
a~,tomatically, without notice, accelerate the maturity of all sums of money herein described and secured, and the same shall thereupon
t~ecome due and payable forthwith as fully as if the said aggregate sums of money were originally stipulated to be paid on such date.
22. That, upon acquisition of title to the mortgaged property by the Mortgagee by foreclosure sate or otherwise the Mortgagee shall }
have the right to remove from the mortgaged property any and all persona! property therein contained and no liability shall attach to the
;lortgagee to account for said persona! property or for damages occasioned by the loss, theft or removal of such personal property.
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