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HomeMy WebLinkAbout0925intome, profits, issues ond revenues ore hereby mortgoged os if spetificolly Set forth ond desuibed in the gronting ond hobendum clouses hereof, ond such receivu sholl hove oll the brood ond effective functions and powers in ony wise ent~usted by o court to 0 receiver, ond suth oppointment sholl be mode by suth court os an odmitted equity ond a matter of obsolute ~ight in the Mortgogee, und without reference to the odequocy or inodequocy of the volue of the properry mortgaged, o• to the solvency or i~solvency of the Mortgogo. ond/o~ the defendont o~+d auch rents, profits, income, issues ond revenues sholl be opplied by the receiver according to the tie~ ond/or equity of this mortgoge ond the proctice of such court, and such oppointment of receiver sholl be without notice to ony obliyor hereunder. NINTH: The Mortgogo- hereby woives oll .ights of homesteod ond exemptior~ gronted by the Constitution and laws of Flo~ido. It is specificalty ogreed thot time is of the esse~ce in this cont~oct ond thot no woiver by the Mortgogee ot ony obligotion he~eunder or of the obligotion secured hereby sholl ot any time thereafter be held to be o woiver of the terms hereof or of the obligotion setured hereby. TENTH: If oll or ony port of the obove described property or on inte-est therein is sotd or t-onsferred by the Mortgogor, or his sutcessor in interest, without the Mo-tgogee's prio- written consent, excluding (o) the creation of o lien or entumberance subordinote to this mortgoge, (b) the creation of o purchose money security interest for household applionces, k) o tronsfer by devise, descent or by operotion of low upon the deoth of o joint tenont, or td) the grunt of ony leasehold interest of three yeors or less not contoining on option to purchose, the Mortgagee moy, ot the Mortqogee's opt~on, declore oIl the sums secured by this mortgoge to be immediately due and poyoble. The Mortgogee sFwll hove waived such option to accelerate if, prior to the sole w tronsfer, the Mortgogee and the person to whom the obove-deuribed property is to be sold or transferred reoch ogreement in writ- ~ng thot the credit of such person is satisfactory to the Mortgogee ond that the interest poyoble on the sums secured by this mortgoge sFwll be ot such rote as the Mortgogee sholl request. ELEVENTH: If forettosure proceedings of ony second mortgoge or second trust deed or ony ~unior lien of any kind should be instituted, the Mortgogee moy, ot its option immediotely or thereofter declore this mortgoge ond the indebtedness secured here- by due and poyable. TWELFTH: Thot in the event the premises hereby mortgoged, or ony port thereof, shall be condemned ond token for pub~ic use under the power of eminent domoin, the Mortgagee sholl hove the right to demond that all domages owarded for the toking of or damages b soid premises shall be poid to the Mortgogee, up ro the artwunt then unpoid on this mortgoge ond the obligation secured hereby and moy be opplied upon the poyments lost poyoble under this mortgoge und the obligotion setured hereby. THIRTEENTH: Thot instollments, poyoble under the terms hereof and the note secured hereby, not poid when due, sholl be subject, ofter fifteen (15) doys from the due dote thereof, to,ond it is ogreed Mortgagee shall collect thereon ond therewith, a"late cFwrge" in the ama~nt of four per cent (4~) of the instollment due upon eoch such delinquent installment, ond such "late chorges" ore secured by the lien he~eof. FOURTEENTH: Without impoiring the obligotions of Mortgagor contoined in porogrophs SECOND, THIR~ ond FOURTH hereof, ond for opplicotion to the purposes thereof insofor os the some sholl be sufficient, Mortgogor shall, in odddition to the monthly poyments of principol and interest os stoted in the original note (ond in the note or notes secured hereby) provided to be made, poy o monthly sum ond amount equol to one-twelfth (1/12) of the estimo~ed onnuol toxes, assessments ond insurunce premiums upon the real estote security, os the amount thereof is determined from time to time by the Mortgagee. FIFTEENTH: Thot the Mortgogor sholl furnish onnuully, ot the request of the Mortgogee, finonciol stotements in form ond certified in o mo~ner sntisfoctory to the Mortgugee. _ SIXTEENTH: This mortgoge secures on exist~ng indebtedness ond also secures ony ond oll renewols ond extentions of the promissory note referred to herein and secured hereby, and all instollments thereof, and olso o~y other note which moy hove been ~r moy hereofter be given to the Mortgogee by the Mortgogo~, and any other indebtedness of the Mortgogor to the Mortgogee, ond this mortgage is olso intended to be ond is o mortgoge to secure poyment of ony ond oll future or odditionol odvonces mode by the Mortgogee at its option to the Mortgogor, or his succeswr in title, for ony purpose, to the some extent os if such future or odditionol odvonces were made on the dote of the execution of this mortgoge, although there moy be no advonce made at the time of the execution of this mortgoge ond olthough there moy be no indebtedness outstanding ot the time ony odvance is mode. All wch advances ore to be mode within twenty yeors from the dote of this mortgoge, or within suth lesser period of time os moy be provided hereofter by low os o pre-requisite for the wfficiency of octuol notice or record notice of the option of future or oddi- tionol advonces as ogoinst the rights of creditors or subsequent purchosers for vuluoble considerotion. The total indebted~ess se- cured by this mortgoge moy detreose or intreose from time to time, but the total unpoid bolonce so setured ot any one time sholl not exceed o moximum principol amount of F.~'Y F'~ T~ SIX HI~IDRED ~ FIVE ~IV~ NO~lOQ - - - --- - - - - -- -- - - - - --- - -- -- tS 55, 625. 00 - - ~ plus interest thereon, and ony disbursements mode for ihe poyment of toxes, levies or insurance on the property covered by the lien of this mortgoge, with interest on such disbursements. SeventQenth: T~is m4rtgage is subject t~a all of the te.rnts of the Constniction I,~an Agree~nt of even date, the same as if sai.d agre~nt w~ere set out herein in full. ~ ~ ~, ;:_ =r, -3- 8~345 ~~E 923 ~:_z~_ ~~