HomeMy WebLinkAbout1143 income, profits, issues and revenues ore hereby mortgaged os if specifically set forth and described in the granting and hobendum
clauses hereof, and such receiver shall hove all the brood and effective functions and powers in any wise entrusted by o court to a
receiver, and such appointment shall be mode by such court os on admitted equity and o molter of absolute right in the b'.ortgtgee,
and without reference to the adequacy or inadequacy of the value of the pru~erty mortgaged, or to the solvency or insa'.vency of
the Mortgagor and/or fhe defendant and wth rents, profits, income, issues and revenues shall be applied by the receiver according
to fhe lien and/or equity of this mortgage and the practice of such court, and such appointment of receiver shall be v?~ithaut notice
to any obligor hereunder,
NINTH: The Mortgagor hereby waives all rights of homestead and exemption 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 t4ligation
hereunder or of the obligation secured hereby shall of any time thereafter be held to be a waiver of the terms hereof ar of the
obligation secured hereby.
TENTH: If all or any port of the above dexribed property or on interest therein is sold or transferred by the ~.'.artgcgar,
or his successor in interest, without the Mortgagee's prior written consent, excluding (o) the creation of o lien or encu:nberonce
subordinate to this mortgage, (b) the creation of o purchase money security interest for household appliances, (c) o transfer by
devise, dexent or by operation of low upon the death of o joint tenant, or (d) the grant of any leasehold interest of tn:ee years
or less not containing an option to purchase, the Mortgagee may, of the Mortgagee's option, declare all the sums secured by this
mortgage to be immediately due and payable. The Mortgagee shall hove waived such option to accelerate if, prier to tie 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 payable on the sums secured by this
mortgage shall be of such rote os the Mortgagee shall request.
ELEVENTH: If foreclosure proceedings of any second mortgage or second trust deed or any junior lien of any kind should
be instituted, the Mortgagee may, of its option immediately or thereafter declare this mortgage and the indebtedness secured here-
by due and payable.
TWELFTH: That in the event the premises hereby mortgaged, or any port thereof, shall be condemned and token far public
use under the power of eminent domain, the Mortgagee shall have the right to demand that all damages awarded for tine coking
of or damages to said premises shall be paid to the Mortgagee, up to the amount then unpaid on this mortgage and the c5ligosion
secured hereby and may be applied upon the payments last payable under this mortgage and the obligation secured heresy.
THIRTEENTH: That1' t41lments, payable under the terms hereof and the note secured hereby, not paid when due, shall _
be subject, offer ~Ae
e~~6T~ys from the due date~reof, to,ond it is agreed Mortgagee shall collect thereon and Herewith,
o "late charge" in the amount of fil~taRKt96) of the installment due upon each such delinquent installment, and such "tote
charges" ore secured by the lien hereof. 5~ or $5.00, tihichever is less
FOURTEENTH: Without impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH
hereof, and for application to the purposes thereof insofar os the some shall be sufficient, Mortgagor shall, in oddditi~l to the
monthly payments of principal and interest os stated in the original note (and in the note or notes secured hereby) pravit'pd to be
mode, pay o monthly sum and amount equal to one-twelfth (1/12) of the estimated annual foxes, assessments and i:surance
premiums upon the real estate security, as the amount thereof is determined from time to time by the Mortgagee.
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FIFTEENTH: That the Mortgagor shall furnish-onnuolly, of the request of the Mortgagee, financial statements in form
and certified in o manner satisfactory to the Mortgagee.
SIXTEENTH: This mortgage secures on existing indebtedness and also secures any and all renewals and extenticns of the
promissory note referred to herein and secured hereby, and all installments thereof, and also any other note which may have been
or may hereafter be given to the Mortgagee by the Mortgagor, and any other indebtedness of the Mortgagor to the h4artgayee,
and this mortgage is also intended to be and is o mortgage 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 some extent as if such future or
additional odvonces were mode on the dote of the execution of this mortgage, although there may be no advance made of the
time of the execution of this mortgage and although there may be no indebtedness outstanding of the time any advance is mode.
All such odvonces ore to be mode within twenty years from the dote of this mortgage, or within such lesser period of tirr:e as may
be provided hereafter by law osoyre-requisite for the sufficiency of actual notice or record notice of the option of futurs or oddi-
tionol odvonces os against the rights of creditors or subsequent purchasers for valuable consideration. The total inde5te~ni:ss se-
cured by this mortgage may decrease or increase fro~+n time to time, but the total unpaid balance so secured at any one time shall
not exceed o maximum principal amount of FIVE THOUSAND ONE HUNDRED TWENTY-THREE DOLLARS
and 17/100--------------------------------------- _(~-5,123.17
plus interest thereon, and any disbursements mode for the payment of foxes, levies or insurance on the property cn.•e:ed by the
lien of this mortgage, with interest on such disbursements.
SEVENTEENTH: The shall be entitled to reasonable
attorney's fees and costs on appeal.
~~~K320 P~~Eii4i
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