Placing a mid mount blade on a CUT has a few limitations. First, the height of blade is limited due to low clearance of the tractor. Won't be able to push lots of material. Second, the low clearance also limits how high the blade can be lifted. Could have problems clearing obstacles, getting stuck in mud, scalping the ground over hills, ditches etc. Third, more expensive than rear blade or front blade. Fourth, would be fairly tractor specific with mounting hardware/brackets. Might be difficult to get rid of later.
Advantages would be down pressure. Easy to see what you doing. Easier to do a level job since blade in in the middle between the tires.