Loading...
HomeMy WebLinkAbout0402 t ~ ;n:ome, profits, issues and revenues ore hereby mortgoged as if specifically set forth and described in the grontiny and h~bendum c I,,uses hereof, and such receiver shall hove all tl~e brood and effective functions and povcrs in any wise entrusted by a court to 0 rc ceiver, and such appointment shall be mode by such court as an admitted e.~uity and o matter of abs~!ute riyt.t in the Mortgagee, and without reference to the adequacy or inadequacy of the value of the property mortgaged, or to the solvency or insolvency of the Mortgagor and/or the defendant and such rents, profits, income, issues and revenues shall be applied by the receiver according n, thn lien and/or equity of this mortgage and the practice of such court, and such appointment of receiver shall be without notice to ony obligor hereunder, NINTH: The Mortgagor hereby wolves all rights of harnesteod and excrrption granted by the Constitution and laws of Florida. It is specifically agreed that time is of the essence in this contract and that no waiver by the Mortgagee of any ebtigotion hereunder or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the obligation secured hereby. TENTH: If all or any port of the above described property or an interest therein is sold or transferred by the Mortgagor, or his successor in interest, without the Mortgagee's prior written consent, exclud;ng (o) the creation of o lien or encurnberonce subordinate to this mortgage, (b) the creation of o purchase money security.intcrest for household appliances, (c) o transfer by devise, descent or by operation of low upon the death of a joint tenant, or (d) the grant of any leosehotd interest of three years or less not containing on option to purchase, the Mortgagee may, at the Mortgagee's option, declare all the sums secured by this morigoge to be immediately due and payable. The Mortgagee shill hove waived such option to accelerate if, prior to tine 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 payobte on the sums secured by this morigoge shall be of such rote os the Mortgagee shall request. ELEVENTH: If foreclosure proceedings of ony second mortgage or second trust deed or any junior lien of any kind should be instituter, the Mortgagee may, of its option immediately or thereafter declare this morigoge and the indebtedness secured here- by due and poyabte. TWELFTH: That in the event the premises hereby mortgoged, or ony part thereof, shall be condemned and taken for public use under the power of eminent domain, the Mortgagee shall hove the right to demand that all domoges awarded for the taking aIF; or domoges to said premises shall be paid to the Mortgogce, up to the amount then unpaid on this mortgage and the obligation - - -is cured hereby and may be applied upon the payments lost payable under this mortgage and the obligation secured hereby. t - THIRTEENT Tho t Ilments ble under the terms hereof and the note secured hereby, not paid when due, shall _ ~ payer 1~-4ubject, after f i~y~ from the due dot~,~hereof, to,and it is agreed Mortgagee shall collect thereon and therewith, o '"tote charge" in the amount of fttux~pwrrmettsn(#46) of the installment due upon each such delinquent installment, and such "tote charges' ore secured by the lien hereof. 5X or $S . 00 whichever is less FOURTEENTH: Without impairing the obligations of Mortgagor contoin~d in paragraphs SECOND, THIRD and FOURTH hereof, and for application to the purposes thereof insofar os the same shall be sufficient, Mortgagor shall, in oddditi~~ to the monthly payments of principal and interest os stated in the original note fond in the note or notes secured hereby) provided to be made, pay o monthly sum and amount equal to one-twelfth (1/12) of the estimated annual foxes, assessments and insurance premiums upon the real estate security, os the amount thereof is determined from time to time by the Mortgagee. I i FIFTEENTH: That the Mortgagor shall furnish annually, of the request of the Mortgagee, financial statements in form and certified in o manner satisfactory to the Mortgagee. SIXTEENTH: This morigoge secures on existing indebtedness and also secures ony and all renewals and extentions of the I ! promissory note referred to herein and secured hereby, and all installments thereof, and also any other note which may hove been or may hereafter be given to the Mortgagee by the Mortgagor, and ony other indebtedness of the Mortgagor to the Mortgagee, and this mortgage is also intended to be and is o morigoge to secure payment of any and all future or additional odvonces made by the Mortgagee of its option to the Mortgagor, or his successor in title, for any purpose, to the same extent os if such future or additional odvonces were mode on the dote of the execution of this morigoge, although there may be no odvonce made of the tame of the execution of this mortgage and although there may be no indebtedness outstanding at the time any odvonce is made. All such odvonces are to be made within twenty years from the dote of this mortgage, or x~ithin such lesser period of time os may be provided hereafter by low os opre-requisite for the sufficiency of actual notice or record notice of the option of future or oddi- t;anal odvonces as against the rights of creditors or subsequent purchasers for valuable consideration. The total indebtedness se- cwred by this mortgage may decrease or increase fronn time to time, but the total unpaid balance so secured at any one time shall 'I THIRTEEN THOUSAND THREE HUNDRED FIFTY-SEVEN ~t exceed a maximum principal amount of DOLLARS AND 80/100---- i3 357.80-- - - - - - - (b - ) - plus interest thereon, and any disbursements mode for the payment of foxes, le•r,es or insurance on the prop^_rty covered by the lien of this morigoge, with interest on such disbursements. SEVENTEENTH: The Bank shall be entitled to reasonable attorney's ~ tees and costs on appeal. - 6~~?x3~.~ ~~~E 40i g~-r,~~~:~ i~x3~7 Pa~E 823 ago{