HomeMy WebLinkAbout0989 01-23173451
lity owned by Mortgagor. In the event of any breach of this
covenant, khe Mortgagee may, in addition to any other rights or
remedies, at any time thereafter, declare the whole of the said
principal sum immediately due and payable.
10. No failure of Mortgagee to exercise any optior.
herein given to declare the maturity of the debt hereby secured
shall be taken or construed as a waiver of its right to exercise
such option or to declare such maturity by reason of any past,
present or future default on the part of Mo~tgagor; and the
procurement of insurance or the payment of taxes or other liens,
debts, or charges by Mortgagee shall not be taken or construed as
a waiver of its right to declare the maturity of the indebtedness
hereby secured by reason of failure of Mortgagor to procure such
insurance or to pay such taxes, debts, liens or charges.
11. If Mortgagor shall make default in the payment of
any of the indebtednesses hereby secured, or if Mortgagor shall
default in the per~ormance of any of the terms or conditions
hereof, Mortgagee may proceed to collect the rent, income and
profits from the premises, either with or with~out the appointment
of a receiver; any rents, inc4me and profits collected by Mortga-
gee prior to forecl~osure of this Mortgage, less the cost of
collecting the same, including any real estate com mission or
attorney's fee incurred, shall be credited first to advances with
interest thereon, then to interest due on the principal indebted-
ness, and the remainder, if any, to the principal debt hereby
secured.
12. 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 damaaes 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 se-
cured hereby and may be applied upon the payments last payable
under this Mortgage and the obligation secured thereby.
13. The lien of this instrument shall remain in full
force and effect during any postponement or extension of time of
payment of any part or all of the indebtedness secured hereby and
i during the term of any future advances made hereunder.
~
~
; 14. When and if Mortgagor and Mortgagee shall res~ect-
i ively become the Debtor and Secured Party in any Uniform Commer-
s cial Code Financing Statement affecting property either referred
` to or described herein, or in any way connected with the use and
~ enjoyment of these premises, this mortgage shall be deemed the
Security Agreement as defined in said Uniform Commercial Code and
€ the ramedies for any violation of the covenants, terms and condi-
~ tions of the agreements herein contained shall be (i) as pres-
~ cribed herein, or (ii) by general law, or (iii) as to such part
~ of the securit~ which is also reflected in said financing state-
~ ment by the specific statutory consequences now or hereafter
~ enacted and specified in the Uniform Com mercial Codeo all at
Mortgagee's sa1Q election. Mortgagor and Mortgagee agr~e that
: the filing of such financing statement in the records normally
~ having to do with personal property shall never be construed as
s in anywise derogating from or impairing this declaration and
F
_ hereby stated intention of the parties hereto, that everything
° used in connection with the production of income from the mort-
F gaged property (furniture only excepted) and/or adapted for use
` therein and/or which is described or ref~.ected in this Mortgage
is, and at all times and for all purposes and zn all proceedings
both legal or equitable shall be, regarded as part of the real
; estate irrespective of whether (i) any such item is physically ~
attached to the improvements, (ii) serial numbers are used for
the better identification of certain equipment items capable of
being thus identified in a recital contained herein or in any
list filed with the Mortgagee, or (iii) any such time is referred
to or reflected in any such financing statement so filed at any
time. Similarly, the mention in any such financing statement of
(1) the rights in or the proceeds of any fire and /or hazard
insurance policy, or {2) any award in eminent domain proceedings
for a taking or for loss of value, or (3) the debtor`s interest
' FEE. KOBLEGARD. TEEL 8c KENNEY. P. A.
ATTORNEYS AT LAW
POST O~FICE BOX 1000 ~5 QaGf {,/8~
FORT PIER , FIORIDA ~34~54
TtLt?HONt (306) 461•5020
_ aa.:~.-M~:' ~ '~3~~~-rx~ ~?~s ~ ~~r, ~ ~"'~^--'~,~fi
_ _