HomeMy WebLinkAbout0957 shall not ooerace as an afrirmance of any teilant or tease in th~
event the title to the Yroperty snall be acquired by ~Iortyayee or
by any other purchaser at a foreclosure sale.
In exercisiny any of the powers in this F~acagraph
contained, Pfortyagee may also, upon an event of deEault as
atoresaid, take possession ot, and for these purposes ~se, any
an:~ all personal pro~ert~r c~ntained in the mortgayed premises and
useful in the of~eration thereof. The right to enter and take
Uossession of saic3 property, to mana~e and ooerate the sarne, and
to collect the rents, issues and praFits thereoE, may be
exercised concurrently with or independently of any other riyht
or r?medy hereunder or afforded by law. Mortgagee shall be
liable to account only for such rents, issues, and ~roEits
actually received by t•fortgagee.
~s. Notwitnstanc3ing any takin~~ or any property, herein
~nortyaged and ayreed to be inortyayed, by eminent ilomain,
alteration o"t the graae ot any street or other injury to, or -
decrease in the value of, the premises by any public or quasi-
authority or corporation, i~ortyagor shall continue to pay
interest on the Securea Indebtedness, and any reduction in the
Secured Indebtedness resulting fror~ the application by Nlortyayee
o~ any award oc payment for such Premises, as hereinaFter set
torth, shall be deemed to take effect only on the date of such
ceceipt by :dortga~ee; and such award or payment may, at the
option of t~lortyayee, be retained and applied by I~ortgayee toward
payment oF tne ~ecured Indebtedness, or be paid over, wholly or
in part, to ttortgayor for the purvose oF altering, restoriny or
rebuilding any oart of thz Premises which may have been altered,
dairaged or destroyed as a result of any such taking, alteration
of grade, or ott~er injury to the Prerr~ises, or for any other
purpose or o~ject s~tisfactory to MortgayPe, but t•fortyayee shall
not oe o~li~ated to see to the apolication of any amount paid
over to Kortgagor. If, prior to the receipt by Mortgayee oE such
a'vfiiiit~.~ VL UCi~%IISCtII.~ t.IIC YLCIIILSCS SllQll [IdVC ul:Cll SUZU VIl
foreclosure of this mortgage, i~lortgagee shall have the right to
receive such awarc~ or payment to the extent of any deficiency
found to be c~ue upon such sale, with legal interest thereon,
whether or not a deFiciency ju~g~nent on this mortgaye shall nave
been sought or recovered or denied, and ot the reasonable counsel
' fees, costs and disbursements incurred by ;~lortyagee in cor~nection
j with the collection oE such ~~ard or payment.
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9. (a) ?4ithout the prior written consent of , ~
[~iortyayee, ~ahicii consent ?~lort~agee may grant or witnhold in its
sole c3iscretion, '~lortgagor and/or DiFF:O ~dotors Corp. , a Elor ida ;
corporation (hereinafter referred to as "Dealership") will
a~stain froin anci will not cause or permit any sale, lease, ~
assi:3nment, exchange, transfer or canveyance oE the Premises or
~ny part thereot or any interest therein (including, without
li.~itati~n, easements), voluntarily or by operation oE law (other
than by executio~ on the yote or foreclosure under Lhis t,lortyaye)
or any transfer o€ all or substantially all of the assets or any
stochholdin,3s in t~lortyayor or Cealership, whether by sale, lease,
assignment, excnanye, conveyance, meryer, consolidation or '
ott~erwise. r^urtherrnore without the prior written consent of ~
;~lort~ayee, which consent Mo~tyageF inay, within its discretion, ~
refuse to give, tlortyayor will neither place a,nortgage, lien, ,
pledge, security interest, or other encumbrance other than this '
'•tort~aye in the Premises on any of tne im~rovements to be located
thereon, or on any of the laases to be executed with respect to
~ the Pre~nises, nor will ~9ortgagor and/or E~Dealership nermit such i
~ other mort~age, lien, pledge, security interest, or other
encumbrance to attacn to the Premises, any of tne improvements to '
oe located thereon or any of the leases to be executed with
res~~ect to the Premises. ~otwithstanc~ing the fc~regoing,
~•lortyayor ma~ yive a purchase money second mortgage to Joseph
Lach ~ provided the total
;~rincipal funded under saici purchase money mortyaye shall not
a
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