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HomeMy WebLinkAbout0966 ~ R. It is turthe~ co~~en~ntcd and aRrrc~1 by said partici that in the eeent of a suit bcing instituted to toredose this nu,rtK:~Ke. tl~e ~tortgagre st?•rl) be rntitlcyl to apPly at any time pending such (oralosure suit to the coun haviug jurisdie- tion therro( tor the ap~~ointmcnt ot a recricer o[ all and singular the mortgagcvl p~operty, and all of the rents, incomes. pro(iis, issu~~s and reveuues thenrol. (rom. whatsoever source ~Ierivrd; and thereupon it is hereby expressly covenanted aud a};rriYl that the court shaU totthwith appoint a Receiver of said mortp,agal ptoperty, all and singula~, and o[ such rcots, iucomrs, protits, issues and rr~•rnue thereof, (rom wl~atsortier source derivecl, with ~he usual powen and duties oE nYri~~ers in like cases: and such appointment shall be made by such court as a matter ot strict right to the liortgagte, its succrssors, Icgal representati~•es or assi~u, and withou~ reterence to the adrquacy or inadequacy of the value ot the pro~,erty hemby mortgaged, or to the solvrncy or insolvency of the \lortgagor, and that such rent, profits, ineome, iuues and « venues shall be appliecl by such Rrcei~•er to the paymet~t o( the mortgage indebtednrss, coats and charges, accord- iu~ to thc order of such court. , 9. l1Pon any dc[ault undcr thr mortgagc note or the mortgage, at the option o[ thc holder ot the mortgage note the w~p:~id balance o[ the mortgaRe note and any ad~•ances madc undcr it, or thc mortgaRc, togcther with interest, shall become due ai~d pa}'able, time IxiuK of the ~~ssenre of this contract. Any waiver ot any pa~•ment under the note or mort- K~K~ ~~me shall not, at an~~ othe~ time, be taken [o bc :1 Wal~'Ci QI the ternu o[ the note or mongage, and the ac- ceptance of payments upon said indrbtednrss shalt not constitute a wai~•er ot the option oE the holder oi the note to accelerate mpa}'ment of the entire unpaid balance, unless the holder expressly grants such wai~•er in writing. 10. I[ Atortgagor is a corporation, partnenhip, limitecl partnership, or entity other than a natural person, and liquidates or dissol~~cs, or is liquidated or cfissolved or if all or any part o( the ptaperty or an interest therein is sold or trans[erred by \tortp,agor Nithout ~IortRagee's prior written coment e~cluding (a) the creation ot a lien or encumbrance subordi~~ate to this mortgagc, (b) a trans[cr by de~•ise, dissent or by operation ot law upon thc dcath of a joint tenant. or. (c) the l;rant ot any leasehold interest o( three (3) yean or less not containir?g an option to punhase, 1(ortgagee may at \Iortgagec's option, declare all sumc sccureci by this mortgage to bc immecliately due and pavable. \tortgagee shall have waiveci such option to accelerate only if, prior to the liquidation, dissolution, sale or traus[er. \tortgagee and the person to Nhom the property is to be sold or trans(erreci reach agreement in writing that such person is a qualitied borrower to the satis(action o[ \tortgagee exerciced in its sole discretion and ty~at any mocfifications o[ term~ oE the mortgage loan as are requireci by :ltortgagee in its sole and absolute discretion Nhich mali(ications inay indude Nithout limitation the rate of interest pa~•able on the sums secured by the mon~ge to a rate as requested by ~Iortgagec haee bcen agreed upon. It ~tortgagee exercises suct~ option to accelerate, ~(ortgagee shall mail :~fortgagor notice of acceleration by depos- iting said Icttcr in thc Unitcci States mail, postage prepaid, to the (ollowing address: Such notice shall prq~•ide a period of not less than thiny (30) days (rom the date the notice is mailed, within which \fongagor ma~ pay the sum declareci due. ]f rfortp,agor fails to pa}• such sums prior to the expiration o[ such period, the loan shall be in de[ault and ~fortgagee may, without funher noticc or demand on :?Iortgagor, in~•oke any remedies as pro~•ideci tor herein upon the e~•ent ot default. / Any wai~•cr oE any paymcnt under the notc or mortgage at any timc shall not, at any other timc, be taken to be a waiver o[ the terms o[ the note or mortgage, and the acceptance of payments upon said indebtedness shall not consti- tute a wai~~er oE the option o[ the \tortgagee to accelerate_the indebteciness as proyided for herein. I1. If a con~~eyance should be made by the lfortgagor ot the premises i~erein described, or any part thereof, and sLould the grantee or any subsequrnt grantee under said com~e~•ance, hho has assumed the mortgage and indebtedness, be in default by ~•irtue of a breach o[ an~ ot the provisions of this mortgage or tl~e pro~•isions of any auumption agree- mcnt Nith thc \(ortgagcc, whether or noc said assumption agrcement moclifies the ternu o( the mortgage and indebted- ness, thrn and tt~ereforc, the \fortgagor hrreby consents to assumption and the pro~•isions o( any assumption agreement witl~ the \Iortgagee, and to any modi(ications of the terms or proa~isious ot the mortgage and indebtedness occasioned by said assumption a~reement and does [urthcn c~rcby gtant thc \tortgagec thc right to Rrant cxtcnsions o[ time to said qrantee without noti[intion oE. witiiout the consent of, and Nithout af[ecting the liability o[ the original ~(ortgagor, or any sut~„~t ~1ior~~pr, 12. When any amount of money to be paid by the ~tortgagor to the Afortgagce under the terms hemof shall be i in de[ault, or should the Afongagor detault in any o[ the othcr tcrms, pro~~isions or conditions o[ this mortgage, then in that case the \fortgagee shall have the right, without notice to the \tortgagor, to collect and recei~•e from any tenant or lessre of said inortgageci premises thc rcnts, issucs and protits ot the real estate hcreby mortgaged and the impro~~ement thereon, and to gi~•e proper receipts and acquittances therefor, aRer paying all com~issions of any rental agent collecting 'i the same, and an~• rrasonable attorney's (ees, including attorne~'s tees in appellate proceedinqs, and other necessary ex- I penu•s incurrecl in collecting same, to apply the proceeds of sunc ~ollection upon any indebtedness, obligation or liabil- ! it}•, or the ~(ortgagon c~rcunder. The right ~ranted the ~iortRagce under this paragraph shall be in addition to, and shall ` uot limit or restrict, any other right or rights }~ranted the \iortgagee in this mortgage. { 13. That in the event the premises hercby mortgagcd, or an}~ part thcreof, shall be condemncd and taken for pu~ lic use under the power of eminent ctomain, the \(ortgagee shall ha~•e the right to demanct that all damaqes awarded (or ~ thc taking of or damagc•s to said premises shall l~ Paid to the \(ortgagec up to the amount thcn unpaid on this mortgage anci at the option o[ the ~(ortgagee may tx aPPlicd upon the pa~•ments last pa~•ablc thercon. ~ 14. 7'he ~fortgagor binds himse![ not to rrect or petmit to be erected any new buildinp,s on the premises herein mort- ~ Raged or to add or pcrmit to be addcd to any o( thc cxisting improccments thercon or make any changes or alterations in said impro~•ements Nhich matetiaily change the same or the uu thereo(, r?ithout the written consent of the ~tortgagee, and in the e~~ent of any ~'iolation or attempt to a•iolate this stipulation this mortgage and all sums secured hemby shall immediately become due and collectible at the option of the ~(ortgagee. ~ ~ 15. It is specifically agreed that time is o[ the essence and that no wai~•er of any obligation hereunder or o[ the ob- j liRation securecl hereb}• shall at any time be t?cld to be a waircr o[ thc tcrms herroE or o[ tt~c instrument sccured hereby. ~ 16. I[ [orectosure proceedinj;s o( any second mortgagc or sccond trust dccd or any junior lien o[ any kind should ~ t~e institutcd, thc ~fortgaRee may, at ies option, immediately or thercafter dedare this mortgagc and the indebtedness ~ secured hemby due and payable fonhwith, and may at iu option proceecl to [oreclose this mortgage. 17. To pay all and singular the costs, charges and expenses, including trial court and appellate attorney's fees, rea- f ~ sonably incvrred or paid at any time by the \iortgagee, because of the failure of the ~tortgagor to perform, comply with and abide by each and ever}• the stipulations, agreements, conditions, and co~•enants of said promissory note and this i deed, or ritiirr, and every such pay~ments shall bear interest (rom datc at the highest interest rate authorized by Florida 1aw. - ~ 18. This molipagC and the notes and interest sewred hereby shall be construeJ according to the laws o[ the State ~ of Florida. ~ ~ 19. It is covenanted and aqreed that the termt "Jtortgagor" and "\tortgagee" for convenience herein employed, and ~ any pronouns used in connection therewith, shall be construeel to include the plural as hell as the singular number, and the mascaline, temininc and neuter gendcr, whcne~~er and Mhcre~•er the context so admits or rcquires; and that all co~~e- - ~ nants and obligations of thc respccti~•c parties hcrcto shall extend to and bc obligator}~ upon their heirs, legat represent- i ativcs, succcssors and assigns. 't I\ ~JI1'NESS ~1'HEREnF, this mort~a~e has been executed by the ~i~rt~agor in accordance ~+ith ~ the la~.s of the State ~f Florida, thc day-, month and ycar first a1~o~•e ~~ritten. Signed, sealed anct delivered ~ i» t he presence o/: ~ / ~ _ }'y~_~ ~u,(,~d'rA,i,~. . - _ _ ' ~ ~ ~2) - ` - ~ _ . ; ~ -I- i___t;~::~lL.~SEAL) 1 ~ ~~~K 35~ p~GE ~.~65 ~ ~ ~ _ - .