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HomeMy WebLinkAbout2044 • y income, profits, issues and revenues ore hereby mortgaged as 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 a court to 0 receivm, and such appointment shall be mode by such court os on admitted equity and o molter of absolute right 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 to the lien and/or equity of this mortgage and the practice of such court, and such appointment of receiver shall be without notice to any obligor hereunder. NINTH: The Mortgagor hereby wolves all rights of homestead and exemption grouted 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 obligation hereunder or of the obligation secured hereby shall at any time thereafter be held to be o waiver of the terms hereof or of the obligation secured hereby. TENTH: If all or any port of the above described property or on interest therein is sold or transferred by the Mortgagor, or his successor in interest, without the Mortgagee's prior written consent, excluding (o) the creation of a lien or encumberonce subordinate to this mortgage, (b) the creation of o purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of low upon the death of o joint tenant, or (d) the grant of any leasehold 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 mortgage to be immediately due and payable. The Mortgagee shall hove waived such option to accelerate if, prior to the 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 rate as 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, at 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 part thereof, shall be condemned and token for public use under the power of eminent domain, the Mortgagee shall have the right to demand that all damages awarded-for the taking of or damages to said premises shall be paid to the Mortgagee, up to the amount then unpaid on this mortgage and the obligation secured hereby and may be applied upon the payments lost payable under this mortgage and the obligation secured hereby. THIRTEENTH: That installments, payable under the terms hereof and the note secured hereby, not paid when due, shall be subject, offer fifteen 5) days from the due dote thereof, to,ond it is agreed Mortgagee shall collect thereon and therewith, o "late charge" in the amount of four per cent (496) of the installment due upon each such delinquent installment, and such "tote charges" ore secured by the lien hereof. 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 adddition to the monthly payments of principal and interest as stated in the original Hate (and 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 anriual foxes, assessments and insurance premiums upon the real estate security, os the amount thereof is determined frorr+ time to time by the Mortgagee. FIFTEENTH: That the Mortgagor shall furnish annually, of the request of the Mortgagee, financial statements in form i ~ and certified in a manner satisfactory to the Mortgagee. SIXTEENTH: This mortgage secures on existing indebtedness and also secures any and all renewals and extentions of the promissory note referred to herein and secured hereby, and all installments thereof, and also any other note which may hove been ~ ar may hereafter be given to the Mortgagee by the Mortgagor, and any other indebtedness of the Mortgagor to the Mortgagee, and this mortgage is also iniended to be and is o mortgage to secure payment of any and all future or additional advances made by the Mortgagee at its option to the Mortgagor, or his successor in title, for any purpose, to the some extent as if such future or additional advances were made 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 at the time any advance is made. I All such advances are to be made within twenty years from the date of this mortgage, or within such lesser period of time as may be provided hereafter by low as apre-requisite for the sufficiency of actual notice or record notice of the option of future or addi- tional advances os against the rights of creditors or subsequent purchasers for valuable consideration. The total indebtedness se- cured by this mortgage may decrease or increase from time to time, but the total unpaid balance so secured at any one time shall - - THIRTY TWO THOUSAND FIVE HUNDRED and no 100 not exceed o mawmum pnnupol amount of _ _ _ - DOLL1lRS (532,500.00 ) plus interest thereon, and any disbursements made for the payment of taxes, levies or insurance on the property covered by the lien of this mortgage, with interest on such disbursements. x a f ;X: 9L'OK327 s~cE2043 -3- Ks _