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Home My WebLink About2563income. profits~ issues and rever~ues are hereby mortgaged os if specif~colly set lorth ond descr~bed ~n the gront~ng oncf t~abendum clouses hereof, cnd such reteive- shall have all the brood ond effect~ve functions ond powers in a~y w~se e~truzted by o court to 0 receiver, ond suth oppaintment sholl be mode by such court os an admitted equity and o motte~ of obs~tute ~ight in the Mortgagee, and without reference to the adequacy o~ inodequocy of the vdlue ot the property mortgoged, or to the solvency or i~solvency of the Mortgagor and/o- the defencfont ond such rents, profits, income, issues ond revenues sho~l be opplied by the receiver eccording to t~e lien ond/or equity of this mo~tguge and the prot~ice of such cou~t, ond such oppoi~tme~t of .eceiver sholt be without notice to nny obtigo~ hereunder. NINTH: The Mortgogor hereby waives oll ~i3hts of homesteod ar-d exempt+on gtonsed by the Cansti~ution ond lows of Flo-~do It is specifically agreed that time is of the essence in this cont~ocr ond t~ot no wo~ver by the Morrgagee of ony obligation hereur.der or of the obligatian secured hereby shall ot ony t~me fhereofter be held to bc a wo~vc• of the terms hereof or oF the o5ligation secured hereby. TENTH: If oll or ony port of the above described p~operty or on inte-est the~ein is sold or transferred by the M~rtgogo~, or his succeswr in interest, without the Mortgogee's prior written consent, excl~iding (01 the c.eot~a~ of o lien or en~umberonce subordinnte to this mortgage, (b) the creotion of a pu.chose moncy security ~nterest 4or househntd opp~~ances, (c) o tronsfer by devise, descent or by operotion of law upon the deoth of a joint te~ant, or (d~ the gront of any 4e~seh~!d interest of three yeors or less not contoining un option to purchase, the Mortgogee moy, o~ the Morrgogee's opt~on, dec~a~e all the sums secured by th+s mortgoge to be immediotely due ond payable. The Mortgagee sholl have woi~ed such opticn to eccelerote if, prior to the wle or tronsfer, ~he Mortgagee ond the person to whom the obove-destribed property is to be sold or trpnsFerred reoch ogreement in writ- ing that the credit of such person is sotisfoctory to the Mortgagee ond that the ~nterest p~yoble or: the sums secured by this mortgage sho11 be at such rote o: the Mortgagee shall request. E~EVENTN. If fo~eclosure proceed-ngs of cny setond mortgoge or seconci trust deed or ony ium~r lien of ony kind should be instituted, the 1.Aorfgogee moy, ot its option immediately or therenfter detlare this mort,gage ond tne indebtedness secured here- by due and payoble. ' TWEIFTH: Thot in the event the premises hereby mortgoged, or ony port thereof, sholl be condemned ond token for public use under the power of eminent domoin, the Mortgagee sholl hove the right to demond thot all dc-r+ages owo~ded for the toking of or domoges to soid premises shall be pdid to the Mortgogee, up to the omount then unpoid on th;s mo~tgoge and the obligotion secured herebv ond may be o~fied upon the poyments lost payobte under this mortgage and the e5tigotion secured hereby. THIRTEENTH: That installments, poyubte under the terms hereof on~ the notc secured he:eby, not poid when due, sholl be subject, ofter ten (10) d~ys from the due d~te thereof, to;ond it is agreed Mortgagee shall cotlect thereon ond therewith, o"late thor~e" in the omount of five (5~) / of the instollment due upon eoch such detinquent installment, and such "lote charges" are secured by the lien hereof. per cent or $5.00 which ever is less FOURTEENTH: Without impoiring the obligotions of Nbrtgagor contoined in parngraphs SECOND, THIRD and FOURTH hereof, and for opplicotion to the purposes thereof insofar as the same sholl be sufficient, Mortge~ar sholl, in odddition to the monthly poyments of principol ond interest os stoted in the originol note (ond in the note or notes secured hereby) pra~vided to be made, poy o monthly sum n~d amount equal to one-twelfth ({/12) of the estimated onnuol taxes, assessments ond insuronce premiums upon the reol estate security~ os the omount the.eof is determined from time to time by the M~rtgogee_ FIFTEENTH: That the Mortgogor sholl furnish annuully, ot the request of the Mortgogee, f~noncial stutements in farm and certified in o monner satisfoctory to•tFre Mortgogee. ~ SIXTEENTH: This mortgage secures on existing indebtedness and Qlso secures any and all -enewafs und extentions of the promissory note reterred to herein and secured hereby, and oll installments thereof, ond also ony other r.ote whith moy 1~wve been or rrwy hereofter be given to the Mortgogee by the Mortgagor, and ony other indebtedness of tne A~1~rtgogor to the Mortgogee, und this mortgage is also intended to be and is a mortgage to secure poyment of o~y and utl future or additionol odvorites made by the Mortgagee ot its option to the Mortgo9or, or his successor in title, for any purpose, to the scme extent os if suth future or odditional odvonces were mode on the dote of the execution of this mortgoge, oltheugh there mQy be no advnnce mnde at the time of t~e execution of t~is mortgage ond although there may be no indebtedness outstonding ot the time ony odvonce is made. All such odvonces ore to be made within twenty yeors from the date of this mortgage, or within su~h lesser period of time as moy be provided hereoftef by law qs u pre-requisite for the sufficiency of actuol not~ce or record not~ce of the option of future or od~i- tiona{ csdvances os ogoinst the rigfits of creditors or subsequent purchosers for voluable considerateon The total indebtedness se- cured by this rtwrtgage moy decrease or increose fro~r- time to time, but the totol unpoid boionce so secured at ony one time shotl not exceed o max~mum pr~ncipol omount of ~HI$TY OIdE THO~)SANA. _F__OUR HUNDRED ZWENTX_EIGHT__AND N~100--- _ ---- -- -- _...~r-- - ~ --- - - ~ -- _ - - ~_-.~~°_'~_- --. ------- ~S 31,428.00 ~ 1 plus interest thereon, ond any disbursements mode for the poyment of toxes, Ievies or insurance c-+ thq prope~ty covered bv the lien of this mortgage, with interest on wch disbursements SEVEhTEEhTH: The bank shall be entitled to reasonable attorneys fees and costs upon appeal. ~~~x 3~8 P~GE ~~1 ~ -- 3 -- t ~ ~ _._, _ _ . _ -. , :-- _ _ . -~.~- ~=~