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HomeMy WebLinkAbout1194~ncome, profits, issues ond revenues ore hereby mortgoged os if specificolly set forth ond desuibed ~n the 9runting ond hobenc3um clauses he-eof, ond such receiver shall hove oll the brood ond effective functions ond powers in ony wise e~t~usted by o court to 0 receiver, and such appointment sFwll be mode by such ceu~t os on odm~tted equity ond o motter of abscilute r~ght in the Mortgogee, and without reference to the odequocy or inadequocy of the vatue of the property mortgaged, o~ to the solvency or insolvency of the Mortgogor ond/or the deler-dont ond such rents, profits, incame, issues ond revenues sholl be opplied by the rece~ver according to the lien and/or equity of this mortgoge ond the proct~ce of such court, ond such oppointment of rece~ver sholl be w~thout not~ce to any obligor he-eunder. N1NTH: The Mortgogor hereby waives oll r~ghts of homesteod and exempt~on granted by the Constitut~on and lows of Florido It is specificully agreed thut time is of the essence in this controct ond thot no wa~ver by the Mortgagee of ony obligation hereunder or of the obligotion secured hereby sholl ot ony t~me the-eofter be held to be o woiver oi the terms hereof or of the obl~gation secured hereby. TENTH: If all or ony part of the obove dexribed pruperty or Qn interest therein ~s sold or tronsferred by the Mortgogor, or h~s successor in inferest, withouf the Alortgogee's prio- written consent, excluding (ol the creation of o lien or encumberonce subordinote to th~s mortgage, (b) the c~eotio~ of e purchose mo.~ey security interest for househoid oppl~onces, (c1 o tronsfer by devise, descent or by operotion of Iaw upon the deoth of o joint tenont, or (d) the gront of any leosehold ~nteresY of three yeo-s or less not containing on option to purchose, the Mortgayee moy, ot the Mortgagee's opt~on, declore oll the sums secured by this mortgoge to be immediotely due ond poyoble. The Mortgogee sholl hove waived such opt~on to ucce~erote ~f, prior to the sole or tronsfer, 1he Mortgogee ond the person to whom the obove-described property ~s to be sold o. tronsferred reoch ogreement ~n writ- ~ng thot the credit of such person is sot~sfoctory to the Mortgogee ond thot the ~nterest poyoble on the sums secured by this mortgoge shall be ot such rote os the Mortgagee sholl request ' ELEVENTH: If foreclosure p~oceedirr~s of ony second mortgoge or second trust deed or ony ~umor I~en of Qny kind should be ~nstituted, the Mortgogee may, at ifs opt~on immed~otely or thereofter decl~re th~s mortgage and the ~ndebtedness secured here- by due and poyoble. TWELFTH: That in the event the prem~ses hereby mortguged, or any part thereof, sholl be condemned ond token for public use under the power oi eminent domo~n, the Mortgogee shall hove the nght to demand that oll domoges oworded for the toking of or domages to said prem~ses shall be poid to the Mortgogee, up to the amount then unpo~d on th~s mortgage ond the obligotion secured hereby ond rr.ay be opplied upon the payments last poyoble under this mortgage and the obl~gat~on secured hereby. THIRTEENTH. Thot instollments, poyoble under thc terms hereof ond the note securedhereby, not paid when due, sholl be subject, ofte~ fifteen 115) days from the due dcte thereof, to,ond ~t ~s ogreed Mortgogee shbll collect thereon ond therewith, a"lote chorge" in the omount of four per ce~t (4°'a) of the instollment due upon each such delinque~t instollment, and such "lote charges" ore secured by the lien hereof. FOURTEENTH: Without impoiring the obfigotions of Mo-tgogor conto~ned in porogrcphs SECOND,-THIRD ond FOURTH hereof, ond for appl~cot~on to the purposes thereof insofor os the wme sholl be suffiuent, Mortgogor sholl, in adddition to rhe monthly poyments of principol ond interest as stoted ~n the orig~nol note (ond in the note or notes secured•hereby) provided to be made, pay o monthiy sum ond omount equai to one-!wei~tn ( i% i L1 oi ti,e est~mated onnuoi toxes, assessments and ~nsuronce premiums upon the real estote security, os the amount thereof ~s dete-mined from time to time by the Mortgagee FIFTEENTH Thot the Mortgogor sholl furn~sh annuolly, ot the request of the Mortgagee, f~nonuol stotements ~n form and ce-tified ~n o manner wt~sfoctory to the Mortgogee ~ ' - SIXTEENTH: This mortgage secures on ex~snng ~ndebtedness ond also secures any and oll renewols ond extent~ons of the promissory note referred to herein a~d secured hereby, ond oll ~nstollments thereof, ond olso ony other note which moy hove been ~r moy hereofter be given to the Mor!gogee by the Mortgogor, ond ony other ~ndebtedness of the Mortgagor to the Mortgogee, , and this mortgage is also intended to be ond is o mortgage to secure poyment of ony and oll future or odditianol advonces made by the Mortgagee ot its opt~o~ to the Mortgagor, or his ~uccessor in title, for ony purpose, to the same extent os if such future or odditiono~ ndvances were mode on the dote of the execution of this mo~tgage, although there moy be no advonce made ot the t~me of the execution of this mortgoge ond olthough there moy be no indebtedness outstond~ng ot the time ony odvon:e is made. Ali such advonces ore to be mode within twenH~ years frc,m the dote of this mortgoge, or within i~ch lesser period of time os moy be provided hereafte~ by law os a pre-requisite for the sufficiency of octuol notice or record notice of the option of future or oddi- tionol advonces os agoinst the rights of creditors or subsequent purchosers for voluoble considerotion The totol indebtedness se- cured by this mo~tgage may decreose or increose irom time to time, but the total unpo~d balance so secured ot ony one time sholl not exceed a moximum principol omount of ----_-_- - - - --- - - ----_ ---- -- ** Twenty - Five Thousand Dollars and no/100 ** 25,000.00 -- - - - -- -- - - -- --- --- -- - -- - - - ~b - - ~ plus interest thereo~, and any disbursements mode for ihe poyment of foxes, lev~es or insurance on the property covered by the I~e~ of this mortgage, with interest on such d~sbursements ~~'~349 ~~~F1195 ~ -3- ~',.. - _ .... _ , - ~.v.