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Home My WebLink About0154 ; ' { income, profits: issues and revenues ore hereby mortgoged os ~f sF~tifiCOll~ set forth and destribzd ~n the groM~ng ond ha6endum ~ douses her~of, ond such ~eceiver shall have aU the broad and ef'etlive func~ions and powers in any wise entrus?ed by a cov3i to a ! receivrr, and such opQ~~ntment shall be made by such tourl as on admilfed equily and a rt~altcr of ~bsolute right in the Morlgagee, ~ and without reference to Ihe adeqvocy or ~nadrqvacy of ~he volue of Ihe p~operty mo+lgaged, or to the solvency o~ insol~~ency of ~ the Mortgagor and/or the defendont and such ranls, p?afifs, income, issues e~d re~~enuos sholl bc opplied by fhe receiv~r attording to the lirn und±or eovity o` this morrgage and ~he prot~;ce af s~ch cou?t, and such oppointment cf re:eiver shall be withoul notice ~o ony obligor hereundtr. . ~ NINYH: The Morlgagor he~cby waives all rights oi homesleod and exempt~on granfed by the Constitulion und lows of Florida. It is speciFicolly agreed that tinie is uf fhe essence in Ihis contratt and that no w•oive~ by the Mortgo~ee of ony obligalion hzreunder or of the obligotion setured hereby shall at ony lime thereaftE~ be held tu be a waiver ~f the terms hereof c+r of the obligotion secured hereby. _ ~ n on ~ sole t~ansfer o~ conveyonce of the pr~erty h~rei~ deicribed ond ccvered by this Mortgoge to ony ~ TENTH: Upo ) , . pe~s^r~, f:rm nr corporction. whose credit-worthiness hos not bee:~ cpproved in writing by the holder of this Mortgoge, the Mortgagee ~ or h~?de~ sholl hove the rigfit, ot its sole option, to accelerote the motu~ity of this MortgQ~e os thouah it wrre due ond payable ! ; on the day of such tronsfer, if upon notice e~ soid tronsfe~, the Mortgogee or holder ~os g~x,c,' reoson to believe thot the security ~ of the ~~Aort.~ogee or holder has been harmed ar placed in jeoF-ordy. The Bank sholl receiva o complete current firtor;ciol stote- ; ment in a form ond presentation sotisfo.:tory to the Bonk. ~ ELEVENTH: If foieclosure proceedings of any second mortgege or setond trust deed or rry junior lien of any kind should ' . be instituted, the Mortyagee may, af its option immediattly or thereaffer declare this mortgage and the indebtedness secured hereby due ond poyable: ~ - TWElFTH: That in the event the premises hereby mortgaged, ar ony part thercof, shall be condemned and faken for,~Lblic usc und~r the power of eminent don~oin, tfie Mortgagea shall hove the right to demand thot all damages awarded for the taking . ~ - of or domages to said premises shall be paid to thc Mortgagee, up to the amo~nl then unpaid on ~his morlgagc and the obligati~n secured hereby and may be applied upon the poy!~~enft lost po)~~ble under this mortgage anrl the obligation secured hereby. THIRTEEN~H: Thof instQllments, poyablt under tht ferms hereo# and ihe note sacured hereb~r, not paid when due, shalf be ~ subject, after 4:fteen (15) doys from Ihe due dute thereof, to, and ifi is agrerd Mortgagee shall collttl thereor~ and lh~r~with, a - "lole churge" in the amount of four_ per cent (4°~0) of the installment due upon eath such delinquent instaliment, and such "latt chorges" are secured by the lien herrof. ' ~ x FOURTEENTFi: Without impQiring the obligations of Mortgogor contoined in pQ~agraphs SECOND, THIRD an~ FOURTH ~ ~ hereof, and for appiicatioi? to the purposes thereuf insofar as ihe seme snatl be sufficient, Morigagor shall, in additi~n to the ~ monthly payments of principal and interest as stoted in the origirsal Rate (and in the note or rtates secured hereby) provided to be - ~ made, por a monthly sum and amount equal to one-twelhfi (1/12) o~ ~ estimated annucsl !axes, assessments and insurante premiums upon the ~eol estate secunty, as the amo~nt thereof is deten:. ~ed_ from time to time b~r the Morfgagee. ~ • - ~ - ~ FIFTEENTN: That the Mostgagor shall furnish annually, at ihe ~zquest of the Mortgagee, finantial sta~ements in form cnd _ certified in a manner satisfactory to the Mortgagee. - - _ ~ . ; . ~ Sli(TEE~ITH: This mortgage also setures any and all renewals and extensions of ihe promissory, note referrtd to herein ond ~ secured hereby, and all insfollments thereof, and olso any other rwtes whith have been or may be given to the Mortgages by the _ ~ Morlgagor, and any other indebttdness of the Morfgagor to the Mortgagee which, howeve?, sholl not exteed at anr one time . _ - i - - ~ , t i~ ihe aggregate unpoia principal sum of--_-_-- ~ ~ - = . - ~ . - ~ I _TH~F~T~'_FiVE THOUSAND AND NG/100------------------- _ - . - - Dollors (S 3 5, 000._ OQ---- if being ih~ spet~fic intention fhot further advances may be mode by the Mor~gogee at its option to the Morigugor, eithar prior ta - or after The due dotes of the above referred to promissory note herebr secured; aRd this mortgage is given for the zpecifi; ~ purpose of securing any and all indebtedness by the Mortgagor to the hio~tgagee in whaPever manner the same may be evi- derxed or represented, unfil this mortgage is satisficd of retord; and all cavenants and agr~em~nts_contained in this mortgege shall be applicoble to all further and futur~r edvances made by the Mortgagee to the Mortgagor on~ all other irdebte~ness of Mortgogor to fhe Mortgagre, and any a~d all rertewals or extensions thareof. _ - ~ _ SEVE~TEE~TTH: Mortgagor and i~Iortgagee a~~ ee that Ehose provisions af that ~ cer±ain three parly Cor:straction Loan Agreement dated tY~e ~j~ day of I47ay, 1975 i.ncorporated by reference and the default in and provision of that CQnstruction Loan ~ Agreement by R4ortgagor sha11 be deemed a default of this ~nstan~ mortgage. - - - ~ ~ ~ - - ; _ , f _ - _ ~ . ~ . ~ - ~j i . - ~~x~40 ~a~~ ~54 • -3- _ - - f. -