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HomeMy WebLinkAbout2307 . ~ ~ ri. • ~ ~ income, profits, issues and revenues are hereby mortgoged os if specifically set forth and described in the granting and habendum douses hereof, and such receiver shall hove all the brood and effective functions and powers in ony wise entrusted by o court to 0 receiver, and such appointment shall be made by such court os on admitted equity and o molter of absolute right in the Mortgogee, and without reference to the adequacy or inadequacy of the value of the property mortgoged, or to the solvency or insolvency of the Mortgagor and/or the defendant and such rents, profits, income, issues or?d revenues shall be opalied 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 waives all rights of homestead and exemption grouted by the Constitution and lows of Florida. It is specifically agreed that time is of the essence in this contract and that no waiver by the Mortgogee of any obligation hereunder or of the obligation secured hereby shall of ony time thereafter be held to be o waiver of the terms hereof or of the obligation secured hereby. TENTH: If all or ony 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 o lien or encumberonce subordinate to this mortgage, (b) the creation of o purchase money security interest for household appliances, tc) a transfer by devise, descent or by operation of law upon the depth of o joint tenant, or (d) the grant of any leasehold interest of three years or less not containing an option to purchase, the Mortgogee may, at the Mortgagee's option, declare otl the wms secured by this mortgage to be immediately due and payable. The Mortgogee shall hove waived such option to accelerate if, prior to the sale or transfer, the Mortgogee 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 Mortgogee and that the interest payable on the wms secured by this mortgage shall be of such rote os.the Mortgogee shall request. ELEVENTH: If foreclowre proceedings of any second mortgage or second trust deed or any junior lien of any kind should be instituted, the Mortgogee may, of its option immediately or thereafter declare this mortgage and the indebtedness secured here- by due and payable. a TWELFTH: That in the event the premises hereby mortgoged, or any port thereof, shall be condemned and. token for public use under the power of eminent domain, the Mortgogee shall hove the right to demand that all damages awarded for the taking of or damages to said premises shall be paid to the Mortgogee, up to the amount then unpaid on this mortgage and the obligation secured hereby and may be applied upon the payments last payable under this r'nortgoge 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 days frorr~~e due dote thereof, to,ond it is agreed Mortgagee shall collect thereon and therewith, a "tote charge" in ~ie rr nt of of the installment due upon each such delinquent installment, and such "late charges" ore secured by the lien hereof. 5X or $5.00, whichever 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 oddditian to the monthly payments of principal and interest os stated in the original note (and in the note or notes secured hereby) provided to be made, pay o monthly sum and amount equal to one-twelfth (l/12) of the estimated annual taxes, assessments and insurance i premiums upon the real estate security, os the amount thereof is determined from time to time by the Mortgogee. FIFTEENTH: That the Mortgagor shall furnish annually, of the request of the Mortgogee, financial statements in form and certified in a manner satisfactory to the Mortgagee. I ~ SIXTEENTH: This mortgage secures on existing indebtedness and also secures any and all renewals and extentions of the M 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 Mortgogee by the Mortgagor, and ony other indebtedness of the Mortgagor to the Mortgagee, and this mortgage is also intended to be and is a mortgage to secure payment of any and ol) future or additional odvonces made by the Mortgogee 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 made on the dote of the execution of this mortgage, although there may be no advance mode of the time of the execution of this mortgage and although there may be no indebtedness outstanding of the time any advance is made. All such odvonces ore to be mode within twenty years from the dote of this mortgage, or within such lesser period of time os may i be provided hereafter by low as opre-requisite for the sufficiency of actual notice or record notice of the option of future or addi- - tional odvonces as 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 r FIVE ?HOUSAND FOUR HUNDRED EIGHTEEN and 60.100---- ~ not exceed o maximum principal amount of ~ _ (S 5 418.60 ) p{u; interest thereon, and any disbursements mode for the payment of foxes, Ivies or insurance on the property covered by the lien of this mortgage, with interest on such disbursements. Seventeenth: The bank shall be entitled to reasonable attorney's fees and costs on appeal. e cc~~~~ BrJa(eX.,~ P~CE~~ - 3 -