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HomeMy WebLinkAbout2145 under, .1nd every p~yment so madc shall bear interest fro~ th~ datc thereof at the highest rat~• authori2ed by l.zw and all such p:iyr.-ents witt~ interest shall be secured by th~ licn hereof. 4. 'ftiis mortgage is p~rsonal to the `lortg~gor herein, and nu convey~nce sh.~ll be madc by ~tortgsgor of the prc.mises L•erein described or ~ny part ti~ereof without first obtaining the prior written consen[ o[ the :lortgagee. In the eveat ~tortgagce givc:s its wrLtten consent, the gra~itee named in such conveyance shall assume and ~grec to pay the obligation evidenced by the promissory note secured licreby. Any conveyance of thc property hcrein •described or any part thereof in violation of the terms of this p~ragraph siiall entitle Mortgagee to accelerate the payment of tt~e obligation secured hereby and all sums of money secured hereby shall, at the option of Mortgagee, become due an~ payable ;and in default whether or not the same are so duc and payable and •,in default by the specific terms hereof. ;Iothing herein contained ,sl~all be construed to constitute a novation or release of the -tortgagor or any subsequent owner of the liability or obligation ;;under the promissory note secured hereby or this mortgage by • .reason of the aforesaid assumption of the obligation under the ; note secured hereby, by a subsequent owner of the property ' ;;described herein. ~ ; . 5. Until default in the performance of any of the covenants :or agreements of this Mor[gage and the Note(s) or advances vhich it 'secures, the mortgagor shall be entiL-led to collect the rents, '=issues and profits from the premises hereby mortgaged. That in ~ the event of a suit being instituted to foreclose this mortgage, +~the Mortgagee shall be entitled to apply at any time during such ;'foreclosure suit to the cour[ having jurisdiction thereof for the - ,~appointment of a receiver of all and singular the mortgaged ~ i~property, and of all rents, incomes, profits, issues and revenues - :thereof, from ~rhatsoever source derived; and thezeupon it is ~ 'hereby expressly covenanted and agreed that the court shall ; ,forthwith appoint such r•eceiver with the usual powers and duties ~ ~~of receivers in like cases; and said appointment shall be made by i i~the rourt as a matter of strict right to the Mortgagee, and ~ :'without reference to the adequacy or inadequacy of the value of ;~the property hereby aortgaged, or to the solvency or insolvency of ~ j~the Mortgagor or any other party defendant to such suit. The ? 'Mortgagor hereby specifically vaives the right to object to the ~ ';appointment of a receiver as aforesaid and hereby expressly ° •consents that such appointment shall be made as an admitted equity ' {'and as a matter of absolute right to the Mortgagee and that the j tsame may be done without notice to the rlortgagor. ~ ~~ . ' '6. a) To comply with all the terms, covenants, agreements i `-and conditions of any mortgage set out above or hereinafter encumber- 'ino the property herein described, whether superior or junior to ::the lien of this mortgage. t ' b) That any default, breach or violation of any term, ! ~covenant, agreement or condition of any such aortgage, whether superior or junior to the Iien of this mortgage, shall be a ' default hereunder and shall vest in mortgagee all and every the ~ remedies herein provided for in case of default. • `. c) That failure by the mortgagor to pay the ~onies ~ referred to in any such mortgage, Whether superior or junior to , the lien of this mortgage, within fifteen (15) days next after the same severally become due and payable, shall also constitute ~ 'a default under this mortgage. ; :' d) That if any proceedings should be instituted against ~ the property covered by this mortgage upon any other lien or . claim whether superior or junior to the lien of this mortgage, ' "ttic mortgagee may at its option immediately upon institution of ' suct~ suit or durinb the pendency thereof declare this rsortgage ~ and the indebtedness secured hereby due and payable forthwith : 'and may at its opti~~n procced to foreclose this mortgage. ' - e) The mortgagee shall have the righ[, at its option, ~ 'to cure any default under any such mortgage, whether superior or ~ :junior to the lien of this mortgage. ~ `, f j Any suns advaiiced by ~aortgagee in curing said defects "sliall be included as part of tt~e debt of the mortgagors and shall be secured by this mort~age and shall become imnediately due and payablc upon advancement. g) The mortg:~gors covenant and agrec not to en[er into ;any agreement with the holder of any such mortgage, whether junior or senior to the lien of this mortgage, modiEying or amending any • of ttie provisions dealing aith payment of principal or interest u~ider any sucl~ caortgage vithout the prior ~rritten consent of the mor[gabee. ~ h) The c~or[~ag~r~ couenan[ and aaree that no further advances sh~ll be made under the provisions uture advances, ~ ~~ o«,~ES aF ~~~5~ pa~E2143 ~ , . 54~~Er. B~r+hS 6 t>A:ON, SV~TE ~00 NEw WORID TOWER, M~AMI, FLOR~D/- 33~32