Loading...
HomeMy WebLinkAbout0929 '~~coma proNt~ Issues and ~svenusa are hereby mortpaped aa H apscNically set fwth and deecribed In ths pr~ntinp and habendum daus~a hereot. ~nd eucA ~~cefver ~h~ll ~~ve ail the bfoad and eNecllvs tunctiona and powers i~ ~ny wise entru~ted by ~ court to a rocsiver, and such appointment ahall be made by such cou?t aa ~n admfttsd equity and ~ matter of absolute rbht in the MoMpepee, •nd wltAout refe~e~ce fo the adsquacy or inadequacy oi the value of ths property mortpaqad or to tha aolvency or inaolvency ot the Mon9por ~nd/or the defendant and such rente~ profits, incvme, iasues and revsnues shell ba applied by the receive? ~ocordin~ to the Uen ~nd/or equiry of thls mortqa~e and tAe practics of aucA court, and such eppolntme~t oi receiver ahsll be without notice - to any oblipor hereunde~. ~ NINTH: The Mortpapor he~eby waivea all ri9hts oi homestead and exemptian 9ranted by the Conatitution and laws of Florida It is apecificelly aqreed that time ia of the essence In this contract and that no waiver by the Mohpagee of any obltgetion hereunder or of ihe obliflation secured hereby shall at any time thereatter be hetd to be a weiver ol the terms hereoi or of the bbiiyation aecured hereby. TENTH: I} ell or any part of the above described property or an interest iherein is sold or transterred by the Mortpaflor, or his succeasor in interest without the Mortgagee's prior writte~ consent, excluding (a) the creation of a lien or encumbrance subordinete to this monpa~e, (b) the creation ot e purchase money security interest (or household appliances, (c) a t~ensfer by devise, descent or by operation of Iaw upon ihe death of a joint tenanR or the qrant of any leasehold interest of three years I or less not coMaininfl an option to pu~chese, ihe Mortgagee may, et the Mortgapee's option, declere all the sums secured by this ~ mortqe~e to be Immediately due and payable. The Mortqagee shall have weived such option to accelerate H, prior to the sale or ' r transfer, the Mortpagee and the person to whom the above-described property is to be sold or transferred reach agreement in writ- ' _ infl fhat the credit of such person is satisfactory to the Mortgagee end thet the interest payable on the sums secured by this mortpage shall be at such rate as the Mortgagee shall requesl _ EIEVENTH: If foreclosure p~oceedings of any second mortgage or second trust deed or any junior lein o1 any kind should be instituted the Mortgagee may, at its option immediately or thereafter dec~are this mongage and the indebtedness secured here- by due and payable. ~ T1NElFTH: That in fhe 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 dameQes awarded for the faking of or damages to said premises shall be paid to the Mortgegee, up to the amount then unpeid on this mortgege a~d the obligation secured hereby and may be applied upon the payments last payable under this morlgage and the obligation secured hereby. TNIRTE~NTH: Th~t ingfalimenls, payable undsr the lerms hereo! and the nole sec~~re~ here~;, net ;~'sd Wh~~ ~±u~, shs!! , be subject, after (ifteen (15) days from the due date thereof, to, and it is agreed Mortgagee shall collect thereon and therewith, : a"late charge" in the amount of four per Cent (496) ot the installment due upon each such deli~quent instalimenf, and suCh "late chatges" are &ecured by the lien hereot. FOURTEENTH: Without impairing the obligaiions of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH _ hereof, and for epplication to the purposes thereof insofar as the seme shall be sufficient, Mortgagor shall, in addition to the monthly payments of principal and interesl as stated in the original note (and in the note or notes secured hereby~ provided to be _ made, pay a monthly sum and amount equal to on~twelfth (t/12) of the estimated annual taxes, assessments a~d insurance premiums upon the real estate seCUrity, as the amount thereoi is determined from time to time by the Mortgagee. FIFTEENTH: That the Mortgagor shall furnish annually, at the request of the Mortgagee, tinancial statements in form and certified in a manner satisfactory to the Mortgagee. i SIXTEENTH: This mortgage secures an existing indebtedness and also secures any and all renewals and extensions of the promissory note reterred to herein end secured hereby, 8nd all installments thereof, and also any other note which may have been or may hereatter be given to the Mortgagee by the Mortgagor, and any other indebtedness ot the Mortgagor to the Mortgagee, and this mortgage is also intended to be ettd is a mortgage to secure payment of any and all future or edditional advances made by the Mortgagee at its option to the Mortgagor, or hIS successor in title, for any purpose, to the same extent as if such tuture or edditional advances were made on the date of the execution of this mortgage, although there may be no advance made at the time oi the execution of this mortgage and elthouQh there may be no indebtedness outstanding at the time any advance is made. All such advances are to be made within twenty years irom the date of this mortgage, or within such lesser period of time as may be provided hereafter by Iaw as a pr~requisit for the sufficiency of actual notice or record notice of the option oi future or addi- tional advances as against the rights of creditors or subsequent purchasers for valueble consideration The total indebtedness se- cured by this mortgage may decrease or increase (rom time to time, but the totel unpaid balance so secured at any one time shall not exceed a maximum principal amount ot THIRTY-NINE THOUSAND SEVEN HUNDRED EIGHTY-SEVEN ' AND NO/100------------------~-•-------------------------------s t 39,787.00---~ ' plus interest thereor~ and any disbursement made for the payment of taxes, levies or insurance on the propeRy covered by the - lien of this mortgage, with interest ~n such disbursements SEVENTEENTH: This mortgage is subject to all the terms of a Construction Loan Agreement, of even date, the same as if said Agreement were set out herein in full. ~ s - Hor~ ~~o - 3 - : 32z-,,,o., eK0 S 3 4 PAGEO 9 2 7 %.~.~~;-Ti i,;''"'y~=.,~+',__.. _ _ . _ - - .