Loading...
HomeMy WebLinkAbout0922 i mcoma profrts, ~saues end revenuea are ~sreDy mortaaQed as ~f apecffically set toAh and described in the praMinfl and hebendum II clauses hereof, ana such receiver shall heve aU the broad and eHective functiona and powers in any wiae entrusted by a couA to 4 i rece~ver, and auch appointmeM shall be made by auch couA as an admitted equity and a matter of absolute riqht in the MortQa9ee, I and w~thout reference to the edequacy or inadequacy af the value of ihe property mort~aped, or to the solvenCy or inaolvency of the Mo~t9agor and/or the defend9nt and auch renta. P~ofits, income~ iasuea and ~evenuea ahell be applied by the receiver accordin~ to the lien and/or equity of this mortflaye and the practice ofi such cou?t and such appointment of receiver shall be without notice to any obli~Or hereunde~. NINTH: The Mortflaflo~ hereby waives alf riphts of Aomestead and exemption flranted by the Constitution and laws of Florida It is specifically aflreed that time is of the essence in this contract and that no waiver by the Mortflagee of any obligation hereunde~ or of the obligation seCUred hereby shall at any time thereatter be hald to be a waiver of the terms hereof or of the obligation secured hereby. TENTH: If all or any part of the Property or an interest therein is sold or transterred by Borrower without Lenders prior written consen~ excluding (a) the creation of a lien crr encumbrance subordinate to this Mortga~e, (b) the creation of a purchase money security interest tor household appliances, (c) a transfer by deviae, descent or by operation of law upon the death of a joint tenan~ or the grant of any leasehold interest of three years or (ess not containiny an option to purchase, Lender may, at Lender's optior~ declare all the sums secured by this MortgaQe to be immediatety due and payabla If lender excersies such option to accelerate, Lender ahell mail Borrower notice of acceleration. Such notice shall provide , a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. If Borrower ~ i fails to pay such sums prior to the expiration of such period, Lender may, without further noti~e or demand on Borrower, invoke any ~ remedies permitted by paragraph 6 hereof. ; EIEVENTH: If foreclosure proceedings of any second mortgage or second trust deed or any junior lein of any kind should F,e instituted the Mortgagee may, at its option immediately or thereafter declare th~s mortgage and the indebtedness secured here- by due and payable. ~ TWEL~TH: That in the event the premises hereby mortgaged or any part thereof, shall be condemned and taken for public + use under the power of eminent domain, the Mortgagee shall have the right to demand that all damages awarded for the taking of or damages to said premises shall be paid to the Mortgagee, up to the amount then unpaid on this mortgage and the obligation secured hereby end may be applied upon the payments last payable under this mortgage and the obligation secured hereby. THIRTEENTH: That installments, payable under the terms hareof and the note secured hereby, not paid when due, shall be subjec~ after ten (10) days from the due date thereof, to, and it is agreed Mortgagee shall collect the~eon and therewith. a"late charge" in the amou~t of five per cent (5%) or 55.00, whichever is less, of the installment due upon each such delinquent instatlment, and such "late charges" are secured by the lien hereof. FOURTEENTN: Without impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH hereof, and for application to the purposes thereof insofar as the same shall be sufficient, Mortgagor shall, in addition to the monthly payments of principal and interest as stated in the original note (and in the note or notes secured hereb~ provicied to be made, pay a monthly sum and amount equal to on~twelfth (1/12j of the estimated annual taxes, assessments and insurance premiums upon the real estate security, as the amount thereof is determined from time to time by the Mortgagee. ; FIFTEENTH: That the Mortgagor shall furnish annually, at the request of the Mortgagee, financial statements in form ~ i and certified in a manner satisfactory to the Mortgagee. ~ ( SIXTEENTFI: This mortgage secures an exist6ng indebtedness and also secures any and all renewals and extensions of the E promissory note referred to herein and secured hereby, and all installments thereof, and also any other note which may have been or may hereafter be given to the Mortgagee by the Mortga~or, and any other indebtedness of the Mortgagor to the Mortgagee, ~ and this mortgage is also intended to be and is a mortgage to secure payment of any and all future or additional advances made ~ by the Mortgagee at its option to the Mortgagor, or his successor in title, for any purpose, to the same extent as if such future or additional advances were made on the date of the execution of this mortgage, although there may be no advance made at the ~ time of the execution of this mortgage and although there may be no indebtedness outstanding at the time any advance is made. All such advances are to be made within twenty years from the date of this mortgage, or within such lesser period of time as may be provided hereafter by law as a pr~requisite for the sufficiency of actual notice or record notice of the option of future or addi- ~ tional advanCes as against the rights of creditors or subsequent purchasers for valuable co~sideration. The total indebtedness s~ s ~ cured by this mortgage may decrease or increase from time to time, but the total unpaid balance so secured at any one time shall not exceed a maximum principal amount of TWELVE THOUSAND S I X HUNDRED SEVENTY AND 2~~1~0 ~ ~ ~ «12.670, 20 ~ ~ plus interest thereon, and any disbursement made for the payment of taxes, levies or insurance on the property covered by the ~ lien of this mortgage, with interest on such disbursementa ¢ SEVENTEENTH: The Sank shall be entitled to reasonable attorneys fees and costs upon appeal. ~ ~ € ~ au~c~u~ Pa~E ~z - 3 - ~ V j ~'v~ "-,~t,."-.~. K' ~ E: - - ~ ~ - ~ c.- . ~