HomeMy WebLinkAbout0354 ~ of the E~~~hlic records of St, l.ur,ie Co~~nty, I'lorid~; anci sa:d seconcl inort~age
Ueing recorded in nfficial Reco~•d I~ooS~ I5I at page 2a0 in the ir.itial sum af
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.~2t~0, 000. Otl being assigned ta Life Ii~surance Gompany oF Georgia, said -
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assigncnent recoi•ded in Official Record F3oolc 164 at pag~ 1934 of the ~~~ibl~c ;
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~ : x~ecac•ds of St. Luci~ County, T'lorida. 'I'~iat as a covenant to tlie Mortgagee,
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ttle 1~4ortgagor agrees that in the event of default in the paym~nt of any ~
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_ payments on this mortga~e or said first and seconc7 mortgage above referred ~ '
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to, oi• upon th2 default of ~ny of the covenants contaitiec~ ir~ this mortgage and
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_ the first and second mortgage above referi•ed to, that said defattlt will act as ' i
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, : a default in alY three mortgages, the said ~ntire aggregat e sum mentioned in ~ ~
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~ : this martgage and in said prumissory note for which this mortgage is given.
for sec~~rity, and the entire aggregate sum mentioned in the first and secand
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mortgage above referred to and-the said promissor,y notes for.~vhich said .
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first and second nzortgages ~vere given as security, then remaining unpaid as
"to the three promissory notes, with interest accrued, shall becorn~ due and ~
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payable forthwith thereafter at the option of ihe ilrIortgagee, i~s successors ~
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- _ or a~sign~, zs fully a:~c' co~n~leiely as if ~aid aogregate sum of both promissa-y %
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~ notes and mortgages as abc~ve referred to and accrued interest tivere originally ; ~
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. ' stipulated to be paid on such day, ar~ything in said promissory netes herein, to ; ~
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: the contrar_y, not~vithstanding. •
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7. It is further covenanted and agreed bS~ said parties that
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_ ' in the event of a suit being in5tituted to ~foreclose this mortgagf., and ~he said ~
: mor•tgages referred to in Paragraph 6 above, the VIortgagee, its successors
or- assigns, shal? be entitled to ap~ly at any time pending ~uch foreclosure suif , .
. : to the court having j~2risdiction thereof for the appointment of a Receiver of - '
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'.~11 and singular t}~e mortgaged pro~erty, and af all the rents, incorne, profits, ; ~
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_ issues and revenues thereof, from whatsoever source derived; and thereu~ion _
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it is hereby eYpressly covenanted and agreed that the court shall farth~t~ith ~
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. ~',appoint a Re~eiver of sai~ mortgaged property, all and singular, and of such ~ ~
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_ ~'rents, ineoine, ~rofi.is, issues an~ revenues thereof, from ~vhatsoe~rer s ource ~
:'derived; with the usual owers and du~ies of e e' ~
p R c ivers in ltke cases; and such : ;
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_ ~;appoir.tment shall be made by suct~ court as a matter of strict right to the ~
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;~~Iorfgagee, its successors or assigns, and without reference to the adequacy ~
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~ 80~K ~.t)•~ FA . ; ~
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