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HomeMy WebLinkAbout0158income, profits, issues a~d revenues are hereby mortgoged os if specifically ut forth and described in the gronting ond hcbe~dum clouses hereof, ond such receiver Sholl hove all the brood and effettive functions ond powers in ony wise entrusted by o court to c receive~, ond such oppointment shall be mode by such court os an odmitted equity ond o motter of absolute right in the Mortgogee, and without .eference to the odequocy or inodequocy of the value of the p~operty mortgoged, or to the solve~cy or insolvency of the Mortgogor ond/a the defendont ond such rents, profits, income, issues ond revenues sholl be opplied by the receirer occo~ding to the lien ond/or equity of this mortgoge ond the proctice of such court, ond such appointment of receiver sholl be without notice to ony obligor hereu~der. NINTH: The Mortgogor hereby woives oll -ights of homesteod ond exemption g~anted by the Constitution and lows of Florido. It is specifically ogreed thot time is of the essence in this cont~act ond thot no woive~ by the Mortgogee of ony obligotion • hereunder or of the obligotion secured hereby sholl at ony time thereofter be held to be a waiver of the terms hereof or of the obligotion setured hereby. TENTH: If all or any part of the above described property or an interest therein is sold o~ tronsferred by the Mo-tgogo~, or his successo~ in interest, without the Mortgogee's prior writte~ consent, excluding (o) the creotion of o lien or encumberonce subordinote to this mortgoge, (b) the creation of o purchose money security interest for household applionces, (c) o tronsfer by devix, descent or by operation of low upon the deoth of o joint tenont, o- (d) the grunt of ony leosehold interest of three yeors or leu not contuining on option to purchose, the Mortgagee moy, ot the Mortgagee's option, declare oll the sums setured by this mortgoge to be immediotely due ond poyoble. The Mo~tgogee shall hove woived such option to accelerote if, prior to the sole or tronsfer, the Mortgogee ond the person to wham the obove-described property is to be sold or tronsferred reoch ogreement in writ- ~ng thot the credit of such person is sotis(actory to the Mortgogee ond thot the interest poyable on the sums secured by this mortgage shall be et such rote os the Mortgogee sholl request. EIEVENTH: If foreclosure proceedings of uny setond mo~tgoge or second trust deed or ony ~unior lie~ of ony kind should be instituted, the Mortgogee moy, at its option immediotely or thereofter detlore this mortgoge and the indebtedness setured here- by due ond poyoble. TWELFTH: Thot in the e~ent the premises hereby mortgoged, or any port fhereof, sholl be condemned ond taken for public use under the power of eminent domoin, the Mortgogee sholl hove the -ight to demond thot all domoges oworded for the toking of or domages to soid premises shall be poid to the Mortgagee, up to the orr-a,nt then unpoid on this mortgoge ond the obligotion secured hereby ond may be applied upon the poyments lost poyoble under this mortgage and the obligution secured hereby. THIRTEENTH: Thut instollments, poyoble under the terms hereof ond the note secured hereby, not poid when due, sholl be subject, ofter fifteen (15) days from the due date thereof, to,and it is ogreed Mortgagee shall collect thereon and therewith, a"lote charge" in the ama~nt of four per cent (49~n) of the instollment due upon eoth such delinquent instollment, and such "late chorges" ure secured by the lien hereof_ ~ FOURTEENTH: Without impoiring the obligotions of Mortgogor contained in porographs SECOND, THIRD and FOURTH hereof, ond for opplicotion to the purposes thereof insofnr os the same sholl be sufficient, Mortgogor sholl, in addditio~ to the monthly poyments of principol and interest os stated in the original note (ond in the note o~ notes secured hereby) provided to be made, poy a monthly wm ond omount equol to one-twelfth (1/12) of the estimoted onnuol taxes, ossessments und inwronce premiums upon the reol estote security, os the omount thereof is determined from time to time by the Mortgogee. FIFTEENTH: Thot the Mortgogor shall furnish onnually, ot the request of the Mortgogee, fi~anciot stotements in form ond certified in a manner satisfactory to the Mortgagee. SIXTEENTH: This mortgoge secures an existing indebtedness ond olso secures any and oll renewols ond extentions of the promissory note referred to herein ond setured hereby, ond all instollments thereof, ond also ony other note which moy have been ~r muy hereoher be given to the Mongogee by the Mortgagor, ond ony other indebtedness ot the Mortgagor to the Mortgogee, and this mortgoge is also intended to be ond is o mortgoge to secure poyment of ony ond oll future or odditionol advances mode by the Mortgoge~ ot its option to the Mortgagor, or his successor in title, for ony purpose, to the same extent as if wch future or odditional odvances were made on the date of the execution of this mortgoge, olthough there moy be no advonce made ot the time of the execution of this mortgage ond although there moy be no indebtedness outstanding ot the time any udvonce is rrwde_ All such odvonces are to be mode within twenty yeors from the dote of this mortgage, or within such lesser period of time os may be provided hereafter by low os o pre-requisite for the sufficiency of actuol notice or record notice of the option of future or oddi- t~onol odvunces os agoinst the rights of creditors or subsequent purchosers for valuoble considerotion. The totol indebtedneu se- cured by this mortgoge moy decreose or increase from time to time, but the total unpoid bolonce so secu~ed ot any one time sholl not exteed o maximum principol amount of __°_FOP.TY NINE THOUSAND AND 00/100 Dollars ~ -- - -- ---- --- - - ----- - --- -- (S_ 49,000.00 ~ plus interest thereon, and ony disbursements made for ihe poyment of toxes, levies or insuronce on the property covered by the lien of this mortgage, with interest on such disbursements. • -3- -= ~ -:.~ ~_ - - e~ 3~s p~~~ ~ss _ _ .~