HomeMy WebLinkAbout2258 and instruments delivered or to be delivered thereunder, all
of the indebtedness secured hereby shall become and be
immediately due and payable at the option of Mortgagee, without
notice or demand which are hereby expressly waived, in which
event Mortgagee may avail itself of all rights and remedies,
at law.or in equity, and this Mortgage may be foreclosed with
all rights and remedies afforded by the laws of Florida and
Mortgagor shall pay all costs, charges and expenses thereof,
including reasonable attorneys' fees, and such costs, expenses
and attorneys' fees for any retrial, rehearing or appeals.
The indebtedness secured hereby shall bear interest at the
highest lawful rate of interest per annum in the State of Florida
from and after the date of any such default. If the Note
provides for instalment payments, the Mortgagee may, at its
option, collect a late charge not to exceed two cents for each
one dollar not paid to the Mortgagee when due, to reimburse
the Mortgagee for expenses in collecting and servicing such
instalment payments.
14. If default be made in payment, when due, of any
indebtedness secured hereby, or in performance of any of the
obligations, covenants or agreement of the Mortgagor hereunder
or of the Mortgagor, Pledgors or Guarantor under the Loan
Agreement or the documents and instruments delivered or to be
delivered thereunder:
(a) Mortgagee is authorized at any time, without
notice, in its sole discretion to enter upon and take possession
of the Mortgaged Property or any part thereof, to perform any
acts Mortgagee-deems necessary or proper to conserve the security
and to collect and receive all rents, issues and profits thereof,-
including those past due as well as those accruing thereafter;
and
(b) Mortgagee shall be entitled, as a matter of
strict right, without notice and exparte, and without regard
j to the value or occupancy of the security, or the solvency of
Mortgagor, or the adequacy of the Mortgaged Property as security
for the Note or other indebtedness secured hereby, to have a
~ receiver appointed to enter upon and take possession of the
~ Mortgaged Property, collect the rents and profits therefrom
and apply the same as the court may direct, such receiver to
have all the rights and powers permitted under the laws of
r Florida.
In either such case, Mortgagee or the receiver may also
take possession of, and for these purposes use, any and all
personal property which is a part of the Mortgaged Property
and used by Mortgagor in the rental or leasing thereof or any
part thereof. The expense (including receiver's fees, attorneys'
fees, costs and agent's compensation) incurred pursuant to the
powers herein contained shall be secured hereby. Mortgagee
shall (after payment of all costs and expenses incurred) apply
such rents, issues and profits received by it on the indebtedness
secured hereby in such order as Mortgagee determines. The right
to enter and take possession of the Mortgaged Property, to manage
and operate the same, and to collect the rents, issues and
profits thereof, whether by a receiver or otherwise, shall be
cumulative to any other right or remedy hereunder or afforded
by law, and may be exercised concurrentlX therewith or
independently thereof. Mortgagee shall be liable to account
only for such rents, issues and profits actually received by
Mortgagee.
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