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HomeMy WebLinkAbout1472 • •i ? S 3. The mortgagor covenants and agrees that if he shall fail to pay said indebtedness or an} part thereof when due, or shall fail to perform any covenant or agreement of this instrument or the promissory note secured hereby, the entire indebtedness hereby secured shall immediately become due, payable, and collectible without notice, at the option of the mortgagee or assigns, regardless of maturity, and the mortgagee or his assigns may before or after entr}• sell s.1id property without appraisement ~ the mortgagor having waived and assigned to the mortgagee all rights of sppraisement) ~ t ? at judicial sale •pursuant to the provisions of 28 U.S.C. 2W1 ~ a t : ur (tt) at the option of the mortgagee, either by auction or by solicitation of sealed bids, for the highest sad beat bid complying with the terms of Bale and manner of payment specified in the published notice o[ sale, first giving four weeks notice of the time, terms, and place o[ such sale, by ad~rrtiwement nut lest: Than once during each of said four weeks in a newspaper published or distributed its the county in which said property is situated, all other notice being hereby waived by the mortgagor (and said mortgagee, or any person on behal[ of said mortgagee, may bid with the unpaid indebtedness evidenced by said note). Said sale shall be held at or on the property to be sold or at the Federal, cw~nty,to= city courthouse for the county in which the property is located. The mortgagee is hereby authorised°to execute for and oa behalf of the mortgagor and to deliver to the purchaser at such sale a sulGcient conveyance of said property, which conveyance_shall contain recitals as to the happening of the default upon which the ezecution of the power of sale herein granted depends; and the asid mortgagor hereby conetitutea and appoints the mortgagee or any agent or attorney of the mortgagee, the agent and attorney in fact of said mortgagor to make such recitals and to execute said conveyance and hereby covenants and agrees that the recitals so made shall be eBectusl to bar all equity or right of redemption, homestead, dower, and all other exemptions of the mortgagor, all of which are herehv expressly waived and conveyed to the mortgagee; or a+~Cf~~ r~ ,+:{•~fatt,A. yr, , , - w• ~ •ate l' w 1 take any other appropriate action pursuant to state ur Federal s?atute either iu t+tate ur Federal court or otherwise for the disposition of the properh~. In the event of a sale as hereinbefore provided, the mortgagor or any persona in possession under the mort- gagor shall then become and be tenants holding over and shall forthwith deliver possession to the purchaser at such sale or be summarily dispossessed, in accordance with the provisions of law applicable to tenants holding over. The power sad agency hereby granted are coupled with an interest and are irrevocable by death or utherw•ise, soil are granted as cumulative to the remedies for collection of said indebtedness provided by law. 4. The proceeds of any sale of-asid property in accordance with the preceding paragraphs shall be applied first to pay the costs and expenses of asid Bale, the ezpensea incurred by the mortgagee for the purpose of protecting ormain- taining said property, and reasonable attorneys' fees; secondly, to pay the indebtedness secured hereb_c; and thirdly, to pay any surplus or ezcees to the person or persons legally entitled thereto. ~ S. In the event said property is sold at a judicial foreclosure axle or pursuant to the power of sale hereinabove granted, and the proceeds are not su((icient to pay the total indebtedness secured by this instrument and evidenced by said promissory• note, the mortgagee will be entitled to a deficiency judgment for the amount of the deficiency without regard to apprauement. 6. In the event the mortgagor fails to pay any Federal, state, or local tan aasessmeul, income tax or other tai lien, charge, fee, or other expense charged against die property the mortgagee is hereby authorized at his option to pay the same. Any sums so paid by the mortgagee shall be added to and become a part of the principal amount of tl~e indebtedness evidenced by said note, subject to the same terms and conditions. If the mortgagor shall pay and discharge the indebtedness evidenced by said promissory note, and shall pax such some and shall discharge all razes and liens and the costa, fees, and ezpenaea of making, enforcing, and executing this mortgage, then thin mortgage shall be canceled and surrendered. 7. The covenants herein contained shall bind and the benefits and ad~antagw shall inure to the n•sprctivr •nc• ceseors and assigns of the parties hereto. Whenever used, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders. ~ 8. No waiver of any covenant herein or of the obligation secured hereby shall at am_ time ihereaht•r i,e held to be a waiver of the terms hereof or of the note secured hereby. 5 9. A judicial decree, order, or judgment holding any provision ur portion of this instrument invalid ur uueu- forceable shall not in any way impair or preclude the enforcement of the remaining provisions or portions of this instrument. 10. An written notice to be issued to the mort a or ursuant to the roviaions of this instrument shall be ads y 8 g P P dreeeedtoth~mortgaRorat 711 S.W. 24th Forad, Miami,Florida,33129 and any written notice to be issued to the mortgagee shall be addressed to the mortgagee at 1001 East 9th Street, Hialeah, Florida, 33011 ~ 5BA Fl~RM 4~R an~~319 P~~Ei469