HomeMy WebLinkAbout1173~~aid within fift~~rn (13) da~~s u~rxt aft~~r thc• ~anu~ severally i~ec~me due aiid p.~yahie, without demand
ur notice, ur ( c~ in the event eaeh and e~•ery the stipulatious, c~nditions ~nd rovenants of said
~~romissory note aiid this martgage, an~, or cither, are not duly perfonned, complied ~vith and abideci
~y; then, in either or any such event, the said ag~regate sum mentioned in said promissory note then
rr~maining un~id, ~vith interest accrued, and all moneys secured hereby, shall i~ec~c~me clue and
~yable forthwith, or therc•after, at the option of said ~lortgagee, as fully and c~mpletely as if all of
the said sun~s of mo~~ey were originally stipulated to be paid on such day, anything in said promis-
sory note ar in this ~nortgage to the cc~ntrary notwithstanding; and thereu~wn or thereaf ter, at the
optio~i of the ~fortgagee, ~vithout notic~.~ or demand, suit at law or in equity, theretofore or thereafter
l~egun, ma~~ l~c prosc~cuted as if all moneys seeured hereby had mah~recl prior to its institution. ,
8. That if any suit shall l~e instituted to foreclose or reform this mortgage and/or to enforc~e
pa~-ment of an~~ claims hereunder, the \lortgegee shall be entitled to apply at an~~ time pending such
suit, to the Court having jurisdiction thereof, fur the ~ppointment of a Rec~eiver of the mortgageci
propertv and of all and singular the rents, income, profits, issues and revenues thereof from whatever
source derived, each and every of which are eYpressly mortgaged by this instrument; and it is hereh~•
expressly covenanted and a reecl that thereupon such Court shall forth~vith appoint a Recei~~er of
said mortgaged propertv, an~ of all and singular the rents, income, profits, issues and re~•enues thereof
from whatever source c~erived, with the usual powers and duties of rece~~~ers in like cases; and surh
appointment shall be made as a matter of strict right to the ~lortgagee, and without referencr to
the adequac~~ or inadequacy of the value of the propert~~ hereby mortgaged, or to the solvenr~~ or
insoh•ency of the \lortgagors. -
9. To duly perform, com~~ly ~vith and abide b~• each and every the stipulations, conditions and
covenants in said promisson• note and in this mortgage set forth.
10. That in tlie,~ event the premises herei~v mortgaged, or an~~ part therec~€, shalt i~e c~ndemneci
and taken for public use under the power of eminent domain, the ~lortgagee, its successors and assigns,
shall have the right to demand that all darnages a~~~ardeci for the taking of or damages to said premises
shall Ue paid to the ~lortgagee, its successors or assigns, up to the amount then unpaid on this ~n~rt-
gage and ma~• l~e applied upon the payment or pa~~menis last payable hereon.
11. It is specific~ally agreeci that timc is of the essence of this contract and that no ~~•aiver of
a~~v obligativ» l~erem~der vr o€ tlie vt~ligations secured hereby, shaii at an~~ time thereafter be i~eic3
to ~Ue a«•ai~~er of the terms hereof or of the instrument secured herehy.
12. If forerlosure proceedings of arn~ serond mortgage or serond trust cleed or am~ junior lien
of an~• kind sh~uld i~e instituted, the ~turtgagee ma~~, at its- option, immediately declare its lien and
the note ~vhich the same secures, due and pa~~able and start such proceedings as mat• he necessar~•
to protect its interest in the premises, inchiding the appointment of a Receivcr, and its lien herein
granted upon rents and profits shall l~e prior to the lien oE any junior lienholder upon re~its or pr~~fit~
collected or to l~c collected by a Recei~~er appointeci at the instanre of any j~nior lienholder.
13. SPECtAt. PROVISIO~S:
NONE
1T IS ~Il,'TL':1LLY CO~'E\:1\TED ~~D aGREED h}- and l~eh~-een the ~lortgagors and the
\Iortgagee that this. mortgage is also given to secure the pa~-ment of surh future ad~~ances, ~vhcth~•r
~~I~ligaton~ or othen~•ise, as are made ~vithin hvent~~ (20) ~~ears from the date hereof b~~ the ~tortgagee,
to or for the i~enefit of the ~tortga~or, pro~•idc>d that the total unpaid balanre so securec~ at am•
c~ne timc shail not at an~• one time exceed t~~~icr the original prineipal amount serured hereh~•. plus
intc•rest thereon and the disbursemcnts made for the pa~~ment of ta~es, le~-ies or insuranre on the
pro~xrh• co~•ered herch~~, ~rith interest on surh dishursements.
IT IS ~iL TC'AI.LI' CO~'E1A`TED :1\D AGREED b~- and l~eh~•een the ~lortgagors and the
~fortgagee that this mortgage and the promissur~~ note seeurecl hereh~~ c~c~nstitute a Florida cYmtraet
and shall be c~nstnieci according to thc la~~~s of that State. ~
I~ ii'IT\F,SS ti'IiEREOF, the• i(ortga~ors hare executecl these presents i~nder seal the cia~~
and ~•ear first above written.
~ ~~ ~ ,~~ ~~~.-~ - -
Johyi A. Paklos
~J~~ ~--~- ~ ~ i ~ G_-~.
ary . a --
' - ~ ~~~K 350 ~~~E 1172
~
,
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Signecl, sealed and deli~-ered
in th~resence of: