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HomeMy WebLinkAbout1640 1 1'!. if default be made is payment, whoa due, of say indebtedness secured hereby, or is the performance of any of 11lwtgagor'a obli- gations, covenants or agrcemeata hereunder: - (a) Mortgagee is authorised at an time, without notice, in ifs sole discretion, to eater upaa and take poaseesioa of the premises or ~Y part thereof, to perform sny acts Mortgagee deems necessary or proper to conserve the security sad to collect and receive aq rents, issues and profits iberevf, including tbase past due as well as those acerwng thereafter, and ` (b) ittortgagee shall be entitled, as a matter of strict right and without regard to the value or occuppaanncy o[ the security, to have a reccivcr appointed to enter upon and take possession of the premises, collect the rents and profits theretrora and apply the acme w tbe court may direct, such receiver to have all the rights and powers permitted under the 4wa of t'lorida. In either such case 1lfortgagee or the receiver may also take possession of, snd for these purposes use, any and all personal property contained in the premises and used by Alortga,~or in the rental or leasing thereof or any part thereof. Theexpense (including receiver's fees, counsel [sea, coats and agent's compensation) incurred pursuant W the powers herein conlamed shall be secured hereby. Mortgagee shall (after payment of all eagta and expenses incurred) apply such rents, issues sad profits received by it on the indebtedness secured hereby in such order as 111~rtgagce determines. The right W enter and talcs possession of s~srd property. to manage and operate the same, and to collect the yenta. issues and profits thereof, whether by a receiver or otherwise. shall Ise cumulative W any other nRht or remedy here- under or afforded by law, and may be exercised concurrently therewith or independently thereof. Atort$agee shall be liable to account only for aucb rents, issues and profits actwlly received by Mortgagee. 18. Without atfecti the liability of Mortgagor or any other person (except any person expressly released in wrili~) for payment of any indebtedness securel~ereby or for the performance of any obligation contained herein, and vrithout affecting the ng to of Mortgagee with respect to any security not expressly released in writing, Mortgagee rosy, st any time and from time to time. either before or after the maturity of said note, and without notice or consent: (a) Release any person liable for payment of all or any put of the indebtedness or for performance of any obligation. (b) Make any agreement e-cteading the time or otherwise altering the terms of payment o[ all or any part of the indebtedness, or modifying or wainng any obligation, or subordinating, matityiag or otherwise dealing with the lien or charge hereof. (c) 1~ccrcise or refrain from exercising or waive any right Ilfortgagee tray have. (d) Accept additional security of any kind. (e) Release or otherwise deal with any properly, real or personal, securing the indebtedness, including all or any part of the mortgaged premises. 19. It the indebtedness secured hereby is now or hereafter furtheraecured by chattel mortgages, pled1~es, contracts of gwranty, assign- ments or.leases, or other securities, or it the premises hereby encumbered consul of more than one parcel, :lortgagee may, at its optwn, echaust any one or mire of said securities and the security hereunder, or such parcels of the tortgaged premises, either concurrently or independently, and in such onler as it may determine. 20. Notwithstanding any pmvigion herein, or in the note secured hereby. or in any other instrument now or hereafter securing said note, the total liability of Mortgagor for payments is the nature of interest shall not ecceed the limits now permittcrt by the applicable - State law. 21. Any agreement hereafter made by Dtortgsgot snd Mortgagee pursuant to this mortgage shall be superior to the rights of the holder of any interve:?ing lien, charge or encumbrance. 22. No delay by lortgagee in exercising any right or remedy hereunder, or otherwise afforded by 4w, shalt operate as a waiver thereof or preclude the exercise thereof during the continuance of any default hereunder. No waiver by Mortgagee of any default shall eoaatitute a waiver of or rnnsenl to subsequent de[aulta. Every right and remedy provided in this mortgage shall be cumulative of every other right or remedy of i?iortga~e, whether herein or by Iaw conferred, and may be enforced ooacun+ently therewith, and specific enumeration shall not exclude the general. 23. The covenants and agreements herein contained shall bind and the benefits and advantages shall inure to the res~live heirs, ececuWra, administrators, success:ars and assigns of the parties hereto. Wherever used, the aingulu number atiall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. All covenants, agrcementa and undertakings shall be lomt and 8eYeral. 24. Mortgagor hereby waives all rigbt of homestead exemption in sad to the property covered by this mortgage. 25. The unenforceability or invalidity of any one or more pmvisiom, clauses, sentences and/or paragrapl?s of this mortgage shall not render any other provisions, clauses, sentences and/or para;nphs herein contained unenforceable or invabd. 26. Mortgagor, their heirs, successors or t3ssigas, will furnish to Mortgagee, or assigns, within ninety (90) days after the sad of each fiscal year, a sworn financial operating statement with respect to the annual income and expenses in connection with mortgaged property, based upon records and compiled in conformity with recognized accounting practices, and will also furnish to Mortgagee, or assigns, uptm written demand, arl~r additional information concerning the operation of said mortgaged property - as Mortgagee, oir assigns, may request. 27. The note secured by this mortgage contains the following clause: "At any time after fifteen (1~) years iro~a the date of the first amortized payment due here- under, the holder. of this note may, at the holder's option and upon six (6) months' prior written notice, declare the entire unpaid principal balance of this note, with accrued interest and any additional sums to be paid hereunder or under the mortgage securing this note, as accelerated and immediately due and payable." IN WITNE33 WHEREOF, the said Mortgagor has set his hand and seat the day sod year first aawre written. ` MIDi~IAY PLAZA ASSOCIATES, signed, Sealed .red Delivered in the presence ot: a .Florida General Partnership. _ (SEAL) _ ~ --By= . _ ~ . _ - - ---.....-_"Feter .C.:- &eith.~...Authorized._ net) - - - _ (SEAL) . ~ ~i ~ PIGf~~ - (SEAL) { -