HomeMy WebLinkAbout0960 A~~lication and Aqree,r~ent dated December 4, 19II7 betwe~n
~lortyayor. and t~lort:~ayee.
( 'Phen t•lortyayee may immediately do any one
or more oE the following, time ex~ressly being rnade of the
e5s~nce herein:
(i) enter upon and take po5session of
the Premises without the appointment oF a receiver, or an
application thereEor, employ a managing agent of the Premises and
let the sa~r~e, either in its own naine, or in the naine ot
~dortgagor, receive the rents, incomes, issues and profits of the
Premises and ap~ly the same, after payment oF necessary expenses,
on account of the Secureci Indebtedness, but only with the consent
of ~~lortgagor, which consent shall be conclusively presu~~~ei3 fro~;~
~,~rtyugar's ~~~n~onr;ent Qf the Pre~?ises, ?nd a!~y s~_~~h ai~anc3onment
or consent shall constitute an assignment to Mort~agee of
,.f-, ' ~~~o~ n~a.~ nr finroaF~AY aF~PC`fl[~c] fi~P
i'lvi i`.~uyva. ~ i:.~._.~..:,~ i:s 3i:i' - ~ -
whole or any part of the Premises;
(ii) pay any sums in any f~rm or manner
deemed expedient by i~lortgayee to protect the security ot this
instrument or to cure any event of default other than payment of
interest or principal on the Secured Indebtedness; make any
~aym?nt hereby authorized to be made accordiny to any bill,
statement or estimate furnishecl or ~rocured from the appropriate
oublic officer or the party claiminy payment withaut inquiry into
the accuracy or val idity thereof, anc~ the receipt of any sucii
public oFficer or party in the hands of t~lortgayee shall be
conclusive evidence of the validity and amount of items so paid,
in ~hich event the a,tiounts so ~aid, with interest thereon trom
the date of such payment at tne hiyhest rate of interest
allowable by law, stiall be addec~ to and become part ot the
Secured Indebtedness and be immediately d~e and payable to
:••lnrtnanP¢. ar.d htortaauee shall be subroqated to any encumbrance,
lien, cla i?n or ~3emand, and to all the r iahts and secur ities far
the payment thereof, paid or discharyed with the pr incipal sur~
secured hereby or by Mortgagee under the provisions hereof, and
any such subrogation rights shall be additional and cunlulative
i security to this instrument; .
i
` (iii) declare the tJote and tne wnole
indebtedness secured by this mortgage, including all payments for ~
~ taxes, assessrnents, insurance pr.emiums, liens, costs, expenses
and attorneys' fees herein specified, without notice to i~lortgagor .
~ (such notice being hereby expressly waived), to be due and
collectible at once, by Foreclosure or otherwise;
( iv) pursue any and all r2rr~edies
avaiiable under the Uniform Commercial Code, Chapter 679, Florida
Statutes; ~t being hereby agreed tnat fifte~n (15) days notice as
to time and place oF any sale shall be reasonable; and
(v) surrender any ar a11 of the
insurance pulicies maintained pursuant to Article 3 hereof, and
receive and apply the unearnei~ ~~remiums as a credit on the
Secured Indebtedness, and, in connection therewith, :~lortgayor
hereby appoints Mortyayee as the agPnt and attorney-in-fact Eor
:~loctgayor to collect sucn premiums.
If at. any time in the discretion of Mortyagee a
receivership may b~ necessary tv protect the Premises, whether
~ before or aftec maturity of the Secur~d Indebtedness, or at the
~ time oE or after the institution of suit to collect such
indet~t~dness or to enforce this mortgage, Mortgagee shall, as a
matter of strict right and regardless of the value of the
security for the amounts due hereunder or secured hereby or of
the solvency of any party bound for the payment of such
indebtedness, have the riqht to the appointment without bond on
ex parte application, by any court having jurisdiction, o~ a
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+ BO~K 572 ~ncE 960
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