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HomeMy WebLinkAbout0504 ~:~id irxa~e, profits, issuas ard reverx~es are hereby aortpaged as if speclfically set forth and descrlbed In the prantir~p an4 r~berxl~ cfauses hereof, ard suc~ recelver sM ii have all the Droad and effectlve ftnctlons and po~ers in eny Nlse ent~usted ~y a cart to a ~eceiver, ~nd sud~ appolnterit shel~ be snde by such oourt as an a~Itted e~ity and a satter of abeolute r~ght In the Ibrtpagee, ard MltMut rafererxe to ihe adequncy or IrbdeWacy of the value of the property ~ortpe~ed, or to the solvency or Insoivency of the ibrtpaqor aM/or the deferdant and such rents. proffts. inoo~e, Issues and reven~es sM 11 De ~pplied by the recelver aooordlrrp to tha Ilen aM/or eWity of thts ~ortga~e and the practice of such ~t. ard such ~ppoint~ent of reoelver shall be wlthout notlce to any obll~ hereu~. NIHTH: The Ibrtgapor hereby rralves all ri~ts of ho~estead and ewe~ption gronted by the Catistitutlon and laws of Florlda. It Is specifically agreed tMt ti~e is of the ess~xe In this contract and thet ro walver by the Ibrtpa~ee of any ~ligation ~ere~nder or of the abligatlan seared hereby shall at any tl~e thereafter be held to be a walver of the ter~ t~reof or of the obligatlan seaued hereby. TENTH: If all or any part of the above des~ribed property or an Interest tharefn is sold or trar~sferred by the Ibrtga- ~ r, or h I s s~or I n i nterest . M I thout the liortp~ee's pr i or Nr I tten oasent . e~ac 1 ud i r~p ( a) the creat I m of a I I en or PnaAbrance sibordinate to tl~is ~ortgage (b) the creatim of a purchase ~aiey seajrity Interest for ha~sehold appllances, (c} a trar~sfer by devise, deecent or by operatim of IaN ~,pon the death of a Jolnt tenant, or (d) the prant of any leasehold ~nterest of three years or less not cantainin8 an optlan to purchase. the Mortgagee ¦ay. at the 1brt~epee's optlan. declare atl the sus seared by thls ~tgage to be iredlately due and payable. Ths Ibrtgagee st~all heve oaived such optim to aoce- ;erate If. prlor to the sale or tronsfer. the Ibrtga~ee and the persan to it~os the abov~destxlbed property IS to be sold or transferred reach agree~ent In Nritlr~p tMt the credit of such peraon Is satlsfactory to the Ibrtp~ee and that the Interest ;~ayable on the su~s seared by this ~ortgage sfiall be at such rate as the Ya~tgaflee sha11 requast. ELEVENTH: If foreclos~re proceedinps ot arry seoorb ~ortgape or seoa~d tnist deed or any J~nlor Ilen of any kind should ~e instltuted, the Abrtgapee ray, at Its optian INediately or thereafter declare thls ~tgafle and the IndebteA~ess secured tiereby due and pnyable. TIMELFTH: That In the eYent the Pre~ises hereby ~ortgaged, or any part thereof. shall be oonde~~ed and taken for p~blic ~se u~der the power of e¦inent do~ain, the Ilortgagee shall have the ri~t to de~ard that all da~ayes aaarded for the taking or da~wges to sald pre~ises shall be paid to the ibrt~agee. ~p to the a~ant then ~.pald an this ~ortgage and the obllga- , ?ion secured hereby and ~ny be applied ~.pon the pay~snts tast payable ~nder this eortgage and the obllgatlon seared hereby. THIRTEENTH: That Install~ents. payable u~der the tens hereof and the note seared hereby. not peid ~hen due, shall be s~t,jeet, after flfteen (15) days fra the due date tNereof, to, and It Is agreed Abrtgapee shall oollect tl~ereon and ther- i ~ith, a'late charge' in the a~ant of fo~ per cent (~X) of the Install~ent due ?~on each such delinquent Instali~ent, arxl ~ s,,ch `late ct~arges' are seoured by the Ifen hereof. ~ ~ FOUtTEENTH: Illthout I~pafrin8 the obligations of Mortgagor cantalned In paragraptis SECOlO. 1TiIRD and FaRTN hereof. arxJ ~ fer applicatian to the purposes thereof irsofar as the sa~e shall be sufficient, Mortgagor shail. In additlon to the ~onthly ~ pay~nsnts of princ(pal arx1 interest as stated in the orlginal note (and In the note or notes seaxed hereby) provided to be rade, pay a~onthly su and a~ant equal to ane-tr~slfth (1/12) of the esti~ated amual ta~s, ass~s¦ents and Ir~surance pre- Tiums ipor? the real estate security, as the a~o~nt thereof is deten ined fra tiee to tf~e by the Ibrtgagee. ~ EIfTEEHTH: That the Ibrtgagor shall furnish arrx~aliy, at the request of the Ibrtgagee, financlal stateieents in fon and certiffed in a ~arr~er satisfactory to the lbrtgagee. t SIXTEENTH: fiis ~tgage seaues an existin~ Indebte~ess and also secures any and all reneirals and extensians of the { ~~amissory rote referred to herein and seaxed hereby, and all I~tali~ents thereof. and also arry other note ehich ~ay have ~ean or ~ay hereafter be given to the Ibrtgagee by the Mortgagor, ~d any other indebte~tiess of the Mortgagor to the Mortga- E ~ee, and this ~artgage fs also intended to be and Is a¦ortgage to seare pay¦ent of any and ail fut~ae or additfmai ~ advar~ss ~ade by the Mortpagee at its aption to the ibrtgagor. or his successor in title. for arry Wrpose, to tha sm~e extent ~ as if such future or additia~al advances ?~ere ~ade on the date of the e~aecution of this ¦ortgage. altha~ tt~ere ~ay be no ~~vance ~ade at the ti~e of the eacecutian of this ¦ortgage aM althou~ there ~ay be no indebtediess outstandinp at the ti~e ~ ,~y advarxe is ~xde. AII such advarr..es are to be ~ade ~Ithin tnenty y~rs fra the date of this ~ortgage. or eithln such ~ !Psser period of tfee as ~ay be provided hereafter by IaN as a pre-requisit for the sufficlency oi actual notice or record of ~ ^.tice of the option of future or addltional advarxes as against the ri¢~ts of creditors or stbequent purchassrs for vafuable ~ ~nsideratfon. The total Indebter~ess secured by this ~ortgage ~ay dec~ease or increase fra ti~a to ti~e. but the total ~ roa I d ba i ar~ce so s~cured at any one t i ~e sha I I not e~aoeed a ~ax i~ pr i nc i pa f a~ant of T}HEE F~ORED T}Q1SA1~0 A!~ Ib/100 ~ ~~L,"1tS- ~ S 300,000.00 ) plus interest thereon, and any disburse¦ent ~ade fw the payoent of taxes, levles or Ir~surance at the arooerty oovsred by the Ilen of this eartgage, Nith interest on such disburse~ents. ~ SEVENTEEHTH: BorroNer(s) and lender agree that the es~rar of fuxls for taxes and insurarxe in paragraph 2 above is aha±ed u~less arxf ~ntil the Lender nakes xritten dertand ~on Borrarer(s) to begin pay~ent of escroe fu~ds pursuant to sald ;zragraph. 4 1 8~~~674 t~:,~~ 504 -3-. : ~ l~k=.r.. ~~~:«z ~~.:,~~.~'.~a~°'