HomeMy WebLinkAbout0961 debts generally as they become due; or (vii) a court of
competent jurisdiction enters an order, judgment or decree
approving a petition filed against Mortgagor ar any guaran-
tor or endorser of the Note, Geeking any reorganization,
arrangement, composition, readjustment, liquidation, disso-
lution or similar relief under any present or future fede-
ral, state, ~r other statute, law or regulation relating to
bankruptcy, insolvency or otner reiiei ior de~LC~rS, wj~i~n
erder, judgment or decree remains unvacated and unstayed for
an aggregate of sixty (60) days whether or not consecutive
from the date of entry thereof; or (viii) any trustee,
receiver of ~iquidator of Mortgagor of all or any substan-
tial part of the Mortgaged Property or of any or all of the
rents, revenues, issues, earnings, profits or income there-
of, is appointed without the prior written consent of Mort-
gagee, which appointment shall remain unvacated and unstayed
for an aggregate of sixty (60) days whether or not consecu-
tive.
(e) Any breach of any warranty or material untru~h of
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Mortgage or any other instrument securing the Note.
(f) The occurrence of any default under the terms of
any mortgage or other security instrument which creates a
lien or other security interest on or ii~ the Mortgaged
property.
12. Acceleration. If an event of default shall have occur- ~
red, Mortyagee may declare the outstanding principal amount of
the Note and the interest acerued thereon, and all other sums
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.
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~ 13. Remedies After Default. Upon an event of default,
, Mortgagee may proceed by suit or suits at law or in equity or by
f any other appropriate proceeding or remedy to: (a) enforce pay-
; ment of the Note or the performance of any term hereof or any
' other right; (b) foreclose this Mortgage 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,
z income and other benefits from the Mortgaged Property; (d) apply
~ to th~e court having jurisdiction thereof for the appcintment of a
~ receiver_of all and singular the Mortgaged Property and of all ~
~ rents, incomes, profits, issues and revenues thereof, from what-
€
~ soever source derived, and thereupon it is hereby expressly cove- ;
~ nanted and agreed that the court shall forthwith appoint such j
~ receiver with the usual powers and duties of receivers in like ;
r cases and said appointment shall be made by the court as a matter ~
~ of strict right to the Mortgagee and without reference to the
~ adequacy or inadequacy of the value of the Mortgaged Property, or ,
to the solvency or insolvency of the Mortgagor or any other party ~
' defendant to such suit and the Mortgagor waives the right to '
object to the appointment of a receiver as aforesaid and consents
that the appointrnent shall be made as an admitted equity and as a ;
matter of absolute right to the Mortgagee and may be done without ~
notice to the Mortgagor; and (e) pursue any other re~edy avail-
able to it including, but not limited to taking possession of the
Mortgaged Property without notice or hearing to Mortgagor. Mort-
gagee shall take action either by such proceedings or by the
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