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HomeMy WebLinkAbout0892 5-50,266-6 t 12. The Mortgagor has under the other provisions of?~tis Mortgage and does hereby assign to the Mortgagee the rents of the Property, provided that the Mortgagor shall. prior to the acceleration of the mortgage indebtedness as elsewhere herein provtded or the abandonment of the Property, have the nght to collect and retain such rents as they become due and payable. Upon atxxleratton under'the other provisions hereof or the abandonment of the Property, the Mortgagee shall be entitled to take possession of aad manage the Property and to collect the rents of the Property including those past due. All rents collected shall be applied first to the payment of the costs of management of the Property and correction of the rents including but not limited to attorney's and real estate broker's fees and then to the sum secured by this Mortgage. The Mortgagee shall be liable to account only for those rents actually received. 13. In the event suit is instituted to foreclose this mortgage the Mortgagee shall be entitled at any time pending such foreclosure to apply to the court having jurisdiction thereof for the appointment of a receiver of the property and all of the rents, incomes, urofits, issues and revenues thereof from whatever source derived and the court shall ~torthwith appoint such receiver with the usual duties and powers of receivers in like cases and said appointment shall be made as a matter of strict right to the Mortgagee and without rcfercrice to the adequacy of the value of the Property or the solvency of the Mortgagor or any other party to such suit. The Mortgagor hereby waives the right to object to the appointment of a receiver and consents that such appointment shall be made as an admitted equity and as a matter of'absolute right to the Mortgagee. 14. The abstract(s) of title covering the Property shall at all times during the term of this mortgage remain in Qosseuion of the Mortgagee and in the event of foreclosure or other transfer of tale to the Property, all right, title and interest of the Mortgagor in and to the abstract(s) shall pass to the purchaser or grantee. 1 S. If any installment of principal and interat is not paid to the Mortgagee within fifteen (1 S) days after the same becomes due and payable or if each and every of the Mortgagor's promises and covenants set forth in this mortgage and/or the Note are not fully and promptly performed, compliod with and abided by, the entire sum of principal and interest secured by this mortgage shall at the option of the Mortgagee become due and payable in full at once as tf originally stipulated to be so paid at such time notwithstanding anything in this mortgage or Note to the contrary. 16. If the ownership of the Property or any part thereof becomes vested in a person other than the Mortgagor, the Mortgagee may, without notice to the Mortgagor, deal with such successor(s) in interat with reference to this mortgage and the Note in the same manner as with the Mortgagor, without in any way discharging the Mortgagor s liability hereunder or upon any debt hereby secured. No sale of the Property and no forbearance on the part of the Mortgagee or extension far the payment of the debt hereby secured shall operate to release, discharge, modify, change or affect the original IiabiGty of the Mortgagor either to whole or in part. 17. The terms "Mortgagor" and "Mortgagee" wherever used in this instrument shall include the heirs, personal representatives, successors and assigns of the rapective parties; the singular number shall include the plural, the plural shall include the singular and the use of any gender shall include all genders. 18. Name(s) of Mortgagor(s): GEORGE JOHNSON and IDELLER CRUMARTIER JOHNSON, his wife 19. County in Florida wherein Property is situate and description thereof: St . Lucie Lot i3 , in Block 2 , of Ei,DORADO SUBDIVIS ION, according to the Plat thereof as recorded in Plat Book 8. at Page 2. of the Public Records of St. Lucie County, Florida. 20. Rank or priority of this mortgage: First Mortgage 21. Original amount of Notts: $1,475.00 Maturity of Note: October 15, 1983 - 22. Date Mortgage and Note executed: Segt~~s^ber 29 , 1Q79 Witnesses: p o ~ / //lA/I/.li ~ (SEAL) ~ - s STATE OF FLORIDA ) COUNTY OF ss: St. Lucie ) Before me personally appeared the individual(s) about described as the Mortgagor who executed the foregoing Mortgage, weU known to rne, and who acknowledged before me that he (she, they) executed the same for the purposes therein expressed. IN W ITNESS W HEREOF I have set my hand and official seal in said County and State the date upon which the mortgage was executed. N tary Public, Sute of Florida • Y~~~,•~ 'v'' My commission expires: ~ June 30, 1983 - M f' - 4 , r• ; y' ~ STATE OF FLORIDA ) ~„1. COUNTY OF )ss: Before me personally appeared - President and Secretaq' . respectively of a corporation, who acknowledged before me that they, as officers of said corportation, executed the above Mortgage, affixed the corporate seal, and that the - same is the act and deed of said corporation. iN WITNESS W HEREOF 1 have set my hand and official seal in said County and State the date upon which the mortgage was executed. f • t Notary Public. State of Florida My commission expires: i1Y ~ a 8~~