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11. If default be made in payment, when due, of any in-
debtedness secured hereby, or in performance of any of Mortgagor's
obligations, covenants or agreements hereunder:
(a) Mortgagee is authorized at any time, without notice,
in its sole discretion to enter upon and take possession of
the.premises or any part thereof, to perform any acts Mort-
gagee deems necessary or proper to conserve the security and~
to collect and receive all rents, issues and profits thereof,
including those past due as well as those accruing thereafter,
and
(b) Mortgagee shall be entitled, as a matter of strict
right and without regard to the value or occupancy of the
security, to have a receiver appointed to enter upon and take
possession of the premises, collect the rents and profits
therefrom and apply the same as the court may direct, such
receiver to have all the rights and powers permitted under
the laws of Florida. ~
In either of such case Mortgagee or the receiver may also
take possession of, and for these purposes use, any and all per-
sorial property contained in the premises and used by Mortgagor in
the rental or leasing thereof or any part thereof. The expense
(including receiver's f~es, counsel fees; costs and agent's com-
pensation) incurred pursuant to the powers herein contained shall
be secured hereby. Mortgagee shall (after payment of all costs
and expenses incurred) apply such rents, issues and profits re-
ceived by it on the.irndebtedness secured hereby in such order as
Mortgagee determines. The right to enter and take possession of
said property, to manage and operate the same and to collect the
rents, issues and profits thereof, whether by a receiver or other-
wise, shall be cumulative to any other right or remedy hereunder
or afforded by law, and may be exercised concurrently therewith or
independently thereof. Mortgagee shall be liable to account only
for such rents, issues and profits actually received by.Mortgagee.
12. This mortgage is subject and subordinate to that
certain mortgage on the premises given by F. & G., INC.~, a
Pennsylvania corporation authorized to transact business in the
State of Florida, to FORREST H. E. VINCENT and ELLA ELIZABETH
VINCENT, his wife, dated December 28, 1976, in the original prin-
cipal amount of $185,000.00, recorded December 28, 1976 in Of- ~
ficial Records Book 261, pages 2196 thru 2201, as modified by
the certain mortgage modification agreement between FORREST H.E.
VINCENT and ELLA ELIZABETH VINCENT, his wife, and AMGER CORPORATION,
a Florida corporation, of even date herewith, on which there re-
mains due $167,305.72, with interest at 10~ _ percent per
annum from December 29, 1980, which Mortgagee herein assumes and
agrees to pay by virtue of an assumption set forth in that certain
warranty deed of even date herewith from-AMGER CORPORATION to
KIWI MOTEL, INC.
13. If Mortgagor defaults in the payment of any installment
of principal, or of the interest on the aforesaid prior mortgage,
and should such installment of principal or interest remain unpaid
and in arrears for a period of thirty (30) days, or should any suit
be commenced to foreclose said prior mortgage, then the nate and
all moneys secured by this mortgage shall, if Mortgagee,so elects,
at once become due and.payable and the mortgage be foreclosed, and
all costs and expenses of collection of-said moneys with or without
suit, including a reasonable fee for Mortgagee's attorney, shall
be paid by the Mortgagor, and the same are hereby secured. And
should any default be made in the payment of any installment of
principal or the interest on said prior mortgage, Mortgagee may
pay such installment of principal, or such interest, and the
amount so paid, with interest at twelve (12~) percent per annum
from the time of such payment, may be added to the indebtedness
secured by this mortgage and shall be deemed to be secured by
this mortgage and may be collected hereunder.
BOOK34fi PacF27~~
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