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5-53,769-6
11. The Mortgagor has under the other provisions of this Mortgage and does hereby assign to the Mortgagee the rents of the Property,
provtded that the Mongagor shall, prior to the acceleration of the mortgage indebtedness as elsewhere herein provtded or the abandonment of
the Property, have the right to collect and retain such rents as they become due and payable. Upon acceleration under the other provisions
hrrcof or the abandonment of the Property, the Mortgagee shall be entitled to take possession of and manage the Property and to collect the
rents of the Properly including those past due. All rents collected shall be applied first to the payment of the costs of management of the Property
and collection of the rents including but not limited to attorney's and real estate broker's tees and then to the sum secured by this Mortgage. The
hlortgagec shall be liable to account only for those rents actually received.
12. In the event suit is instituted to foreclose this mortgage the Mortgagee shall be entitled at any time pending such foreclosure to apply to
t hr coon having jurisdiction thereof far the appointment of a receiver of the propenY and all of the rents, incomes, profits, iuues and revenues
thereof from whatever source derived and the court shall forthwith appoint such receiver with the usual duties and powers of receivers in like
cases and said appointment shall be made as a matter of strict right to the Mortgagee and without reference to the adequacy of the value ottee
Property or thr solvency of the Mortgagor or any other party to such suit. The Mongagor hereby waives the right to object to the appointment
of a receiver and consents that such appointment shall be made as an admitted equity and as a matter of absolute right to the Mortgagee.
1 The abstractly) of title covering the Property shall at all times during the term of this mortgage remain in Qossession of the Mortgagee
end in the event of foreclosure or other transfer of title to the Property, all right, title and interest of the Mortgagor to and to the abstraM(s) shall
pass to the purchaser or grantee.
14. If any installment of principal and interest is not paid to the Mortgagee within fifteen (1 S) days after the same becomes due and payable
or if each and curry of the Mortgagor's promises and covenants set forth in this mortgage and/or the Note arc not fully and promptly
performed, complied with and abided by, the entire sum of principal and interest secured by this mortgage shall at the option of the Mortgagee
become due and payable in full at once as if originally stipulated to oe so paid at such time notwithstanding anything in this mortgage or Note to
the contrary.
1 S. If the ownership of the Property or any part thereof becomes vested in a person other than the Mortgagor, the Mortgagee may, without
notice to the Mortgagor, deal with such successor(s) in interest with reference to this mortgage and the Note in the same manner as with tht
Mortgagor, without in any way discharging the Mortgagor's liability hereunder or upon any debt hereby secured. No sale of the Property and no
forbearance on the part of the Mortgagee or cxtenston for the payment of the debt hereby secured shall operate to release, discharge, modify,
change or affect the original liability of the Mortgagor Dither to whole or in pan.
16. The terms "Mortgagor" and "Mortgagee" wherever used in this instrument shall include the heirs, personal representatives. successors
and assigns of the respective parties; the singular number shall include the plural, the plural shall include the singular and the use of any gender
,hall include all grnders.
17. This mortgage shall secure not only the existing indebtedness but also such future advances which the Mortgagee at its option may grant
upon the request of the Mortgagor as may be made within twenty (20) years to the date hereof to the same extent as tf such future advances were
made on the date of execution of this mortgage and although there may not be any indebtedness outstandingat the time any advance is_so made.
It is intended that the lien of this mortgage shall be valid as to all such indebtednesses and future advances from the time this mortgage is
recorded in the public records. The total amount of indebtedness that may be secured by this mortgage ma)r decrease or increase from time to
c ime provided however that the total unpaid balance secured at any one time shall not exceed a maximum principal amount equal to three times
t he original amount of the original indebtedness secured hereby plus interest and any disbursements made by the Mortgagee for the payment of
taxes, levies or insurance on the properly, together with interest thereon, plus reasonable attorney's lee and court costs incurred in the collection
.~f any or all of said sums of money. To the extent that this mortgage may secure more than one note a default in the payment of one note shall
constitute a default in the Qayment of all other notes.
Ig. Name(s) of Mortgagor(s):
JOEL ROY BLACKWOOD and GOSMAY BLACKWOOD, his wife
19. County in Florida wherein Property is situate and description thereof: $T• LUCIE
Lot 7, in Block 12, of SUNNY ACRES SUBDIVISION, together with the West
5 feet of vacated alley adjacent on East, according to the Plat thereof
as recorded in Plat Book 8, at Page 25, of the Public Records of
St. Lucie County, Florida
2U. Rank or priority of this mortgage:
SECOND MORTGAGE
' 21. Original amount of Note: •
I $3,475.00
Maturity of Notc: i~),~ ~i•! 3= ZJ
November 15, 1986
22. Datr Mortgage and Note executed: `
November 13, 1980
SO'7'749
Witnesses:
r
3
(SEAL)
- ~ OEL RO BIACKWOOD, Mortgagor
3 ~-a-~_ (SEAL)
1
( STATE Of= FLORIDA ) ~~?L)
(~OUNTY OF ss:
St. Lucie) GO MAY BLA KWOOD, Mor a ar-
~ before me personally appeared the individual(s) above described as the Mortgagor who executed the foregoing 14~pttgt~o~~'(Cit~wn to me,
( and who acknowledged before me that he (she, they) executed the same for the purposes therein expressed. IN vVllssw~ i have
,et my hand and official seal in said County and State the date upon which the mortgage was executed. ~ 4
f . r-• •e _ f.
_ . t e~ " J 1
i
My commi~siOn ea)iires•. J~ X30, 1983 ItR ~ :a1,tiR1`~'`
y ~3~3 P~1271 •