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HomeMy WebLinkAbout2970income, p-ofits, issues ond -ever+ues ore he.eby mortgoged os if specif~colly set forth ond descr~bed in the g.ont~ng ond hobendur» clouses hereof, ond such -eceiver sholl hove oll the brood and effective functions and powers in ony wise entn,sted by o court to a receiver, ond such oppointment sholl be mode by such court as on odm~tted equity ond o motter of obsolute right in ~he Mortgogee, and without reference to the odequocy or inodequocy of the volue of the prope.ty mortgoged. o. to the solvency or insolvency of the Mo-tgogor ond/or the defendont ond such rents, p-ofits, income, issues end revenues sholl be opplied by the receiver otcord~ng to the lien ond/or equity of this mortgoge ond the p~octice of such court, ond such oppo~ntment of -eceive. sholl be w+thout notice to ony obligo- hereu~der. NINTH: The Mortgogor hereby waives oll rights of homesteod and exemption gronted by ~he Constitut~on c~+d lows of Flo.ido. It is specif~cully ogreed thot time is of the essence in this controct and thot no wo~ve- by the Mortgogee of fln, ~ligotion hereunt~er or of the obligution secured hereby sholl ut any time thereofte~ be held to be o wo~ver of the terms hereof w of the obligotion secured hereby. TENTH: If ull or ony po~t of the obove dexribed property or on ~nterest there~n is sold or rronsfe.red by the Nbrtgogo., o. his successor in interest, without the Mortgogee's prior writren consent, exclud~ng (a) the creation of o lien o. e~cumberonce subo~dinote to this mortguge, (b) the creotion of o purchose money secur~ty interest for housel,uld oppliances, (c) e ~~onsfer by devise, descent or by operotion of law upon the deoth of o joint tenont, or fd- the gront of ony leaseho~d ~nterest of rhree yeor, or less nof contoining on option to purchose, the Mortgogee moy, ot the Mo.tgogee's option, declare all the sums se:~r~ by this mortgoge to be immediotely due ond poyable The Mortgogee sholl hove wo~ved such option to occelerote if, pr~ar to the sole or tronsfer, the Mortgogee und the person to whom the obove-desc-ibed p.operty is to be sold or tronsfe-red reoch agree~rent in w.~t- ing thot the credit of such person is sotisfoctory to the Mortgogee ond tho! the interest poyoble on the sums secL~rd by this mortgege shall be at such rate os the Mortgogee sholl request EIEVENTH: If foreclosure proceedings of ony second mortgoge o. second trust deed o~ ony ~unior I~en of ony k~nd should be instituted, the Mortgogee moy, ot its option immediotely or thereofter declnre this mortgage ond rhe indebtedness secured he~e- by due ond payoble. TWELFTH: Thot in the event the premises hereby mortgoged, or o~y part the~eof, sholl be condemned ond tokp~ for public use under the power of eminent domoin, the Mortgogee sholl hove the right to demond that oll domoges uv~wrded fo. the taking of or damages to soid premises sholl be poid to the Mortgogee, up to the cmount the~ unpaid on this mortgage ond th• obl;gotion secured hereby ond moy be opplied upon the poyments lost poyable under this mortgage ond the obligotion secured herebY- THIRTEEN~t instollments, poyoble under the te.ms he-eof and the note secu.ed hereby, not poid whe~ due, sholl be subject, oher ten. 0) doys from the due date thereof, to,ond it is ogreed Mortgogee sholl collect thereo~ ond therewith, o"lote charge" in the omount of f ive (SX) / oi the instollment due upon eoch wch delinquent installment, ond such "Inte chorges" ore secured by the lien hereot. pe7C cent or $5.00 whieh ever is less FOURTEENTH: Without impoiring the obligotions of Mortgogor conto~ned in porogrophs SECOND, THIRO and FOURTH hereot, ond for opplicotion to the purposes thereof insofor os the same sholl be s;,fficient, Mortgogor sholl, in oddd~tion to the monthly poyments of principol and interest os stoted in the origirwl rwte iond in the note or notes secured hereby) provided to be mode, poy o monthly wm and omount equol to one-twelfth (1/12) of the est~mated onnuol toxes, assessments ond insuronce premiums upon the reol estate security, os the amount the~eof is determined from time to time by the Mortgogee FIFTEENTH: Thot the Mortgagor shall furnish annuolly, ot the reguest of the Mortgagee, fin~nciol stotements in form and certitied in o rrwnner satisfactory to the Mortgogee. SIXTEENTH: This mortgage secures on existing indebtedness ond also secures eny and oll renewals ond extentians of the promissory note referred to herein ond secured hereby, ond all installments thereof, and olso ony other note which moy hove been or may hereafter be given to the Mortgagee by the Mortgogor, ond ony other indebtedness of the Mortgagor to the `1lortgogee, and this morigage is olso intended to be ond is o mortgoge to secure poyment of ony ond oll future or additionol odvcnces mude by the Mortgugee ot its option to the Mortgogor, or his successor in title, for ony purpose, to the wme extent os if wch future or odditionol advances were mode on the dote of the execution of this mortgoge, olthough there moy be no odvance made ot the time of the execution of this mortgoge ond although there moy be no indebredness outsronding ot the time ony odvonce is mode. All such advonces are to be mode within tweny yeors from the date of this mortgoge, or within wch lesser period of r~me as may be provided hereofter by law os a pre-requisite for the sufficiency of octual notice or record notice of the option of future or oddi- tionol odvonces as agoinst the rights of creditors or subsequent purchase~s for voluable considerotion. The totol indebtedness se- cured by this mortgoge moy decreose or increose fro~+, time to time, but the toto! unpoid bolonce so secured ot any one time sholl not exceed o maximum principol omount of FOURTEEN THAISAND NINE HUNDRED ONE AND 60/lOQ --- ---- ----------------------- ------------------- ----------~-~s_14,901.60 ~ plus interest thereon, ond ony disbursements made for the payment of toxes, levies or inwronce on the properiy cove-ed by the lien of this mortgoge, with interest on such disbursements. SEVENTEENTN: appeal. The bank shall be entitled to reasonable attoraeys fees and costs upon ~ -3- __ - _ _ . . -- ,= ~~ __-~ -, - ~ ar,~;X 345 Ps~E ~.~~ ~ :~