HomeMy WebLinkAbout0936 an aggregate of sixty (60) days whether or not consecutive
from the date of entry thereof= or (viii) any trustee, re-
ce iver of 1 iquida tor of Mortgagor of all or any subs tan tial
part of the Mortgaged Property or of any or all of the
. rents, cevenues, issues, earnings, profits or income there=
of, is appointed without the prior written consent of Mort-
gagee, whic h appoin tment s hall rema in unvaca ted and uns tayed
~ for an aggregate of sixty (60) days whether or not
consecu tive .
(e) Any breach of any warranty or material untruth of
any representation of Mortyayor contained in the Note, this
Mortyaye or any other instrument securing the Note.
( f) The occurrence of any defaul t under the terms of
any morbgage or other security instrwnent which creates a
lien or other secuxity interest on or in the Mortgaged Pro-
perty. `
12. ~cceleration. If an event of default shall have occur-
red, . Mortgagee may declare the outstanding principal amount of
the Note and the interest accrued thereon, and all other swns
secured hereby, to be due and payable ~immediately. Upon such
declaration such principal and interest and other sums shall
immediately be due and payable without demand or notice and said
principal sum and accrued interest shall both bear interest from
such time until paid at the highest rate allowable under the laws
of the State of Florida.
~ 13. R~aedies tifter Default. Upon an event of default, Mort-
gagee may proceed by sui t or sui ts a t law or in equi ty or by any ~
other appropriate proceeding or remedy to: (a) enforce payment of ~
~ the Note or the performance of any term hereof or any other 3
right; (b) foreclose- this Mort~gage and to sell, as an entirety or ~
in separate lots or parcels, the Mortgaged Property under the ~
judgment or decree of a court or courts of competent jurisdiction
(c) collect all rents, issues, profits, revenue, income and other
benefits from the Mortgaged Property; (d) apply to the court hav-
ing jurisdiction thereof for the a~pointment of a receiver of all -
and singular the Mortgaged Property and of all rents, incomes,
profits, issues and revenues thereof, from whatsoever source ~
derived, and thereupon it is hereby expressly covenanted and }
agreed that the court shall forthwith appoint such receiver with ~
~ the usual powers and duties of receivers in like cases and said ;
i appointment shall be made by the court as a matter of stri~ct ~
E right to the Mortgagee and without reference to the adequacy or ~
inadequacy of the value of the Mortgaged Property, or to the sol- i
; vency or insolvency of the Mortgagor or any other party defendant :
~ to such suit and the Mortgagor waives the right to object to the ~ -
~ appoin tmen t of a rece ive r as a foresa id and consen ts tha t the _
~ appoin tment s hall be made as an admi tted equi ty and as a ma tter ~
~ o f absol ute r ig ht to the Mor tgagee and may be done wi thou t notice -
g to the Mortyagor; and (e) pursue any ~other remedy available ~to it ~
~ including, but not limited to taking possession of the Mortgaged f
E Property without notice or hearing to Mortgagor. Mortgagee shall :
~ take action either by such proceedings or by the exercise of its ~
` power with respect to entry or taking possession, or both, as
a Mortgagee may determine. i
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~ 14. No Naiver. Any failure by the~ Mortgagee to insist upon ~
E the strict per ormance by the Mortyagor of any of the terms and
provisions hereof shall not be deemed to be a waiver of any of
the terms and provisions hereof and the Mortgagee, notwithstand-
ing any such failure, shall have the right thereafter to insist
~ upon the strict performance by the MorCyagor of any and all of
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