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HomeMy WebLinkAbout0671sz ST, IUCIE COUMTr. FLA. under (b) of paragraph 2 preceding shall not be su®cient to pay and rents, taxes and sssessmenta and insurance premiums, as the cane may be, when the acme ahaA recome due and payable, then the mortgagor shall pay to the mortgagee any amount necessary to make up the deficiency, on or before the date when payment of such ground rents. taxes, aasesamenta. or insurance premiums shall be due. if at any time the mortgagor shall tender to the mortgagee is accordance with the provisions of the note secured hereby, full payment of the entire indebtedness represented-thereby. the mortgagee shall, in com- puting the amount of such iad~btedness, credit to •hc account of the mortgagor all pavments made under the provisions of (a) of paragraph 2 hereof which the mo ag has not become obligated to pay to the Federal Housing Commissioner and any balance remaining inn thecefunds accumulated under the pro~~isions of (b) of said agraph 2. If there shall be a default under any of the provisions of this mortgage, re- sulting in a pu tic sale of the premises covered hereby, or if the mortgagee acquires the property other- wise after default, the mortgagee shall apply, at the time of the commencement of ouch proceed-ngs or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under (b) of paragraph 2 precedin~,as a credit against the amount of principal then remaining unpaid under said note and Shall properly @t~.)~.L3t a_ny payments v~hich ahsll have bc~n rfsde +:-,dcr (R) of gatd naragrrn~, 4. That he will pay all taxes, asaeaamenta, water rates, and other governmental or municipal charges, flues, Or impOSitfOn3, fi3i' wl-ai~.l'i ~rOYisiOn lliio uOt beBlz Iris :e 1-a8rciua~NcfOie, and In uefoult tiiCreOf the ZnOrt- gaa~ee mry gay Lhe a-sS.^.e; 8nd th8! >•e will grnmgtly deliYer the official r°Ce:p±s therefor to t-.o ..,n,-.npo.~_ o --o - 5. That he will permit, commit, or auger no waste, impairment, or deterioration of said property or any part thereof ;and in the event of the failure of the mortgagor to keep the buildings on said premises and those to be erected on said premises, ox improvements thereon, in good repair, the mortgagee may make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and the fuU amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of thin mortgage, 6. That he will pay all and singular the costa, charges, and expenses, including reasonable lawyer's fees, and coats of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage, and said costa, charges, and expenses shall be immediately due and pay- able and shall be secured by the lien of this mortgage. 7. That he will keel the improvements now existing or hereafter erected on the mortgaged property, insured as may be requued from time to time by the mortgagee against loss by fire and other hazards, caaualtiea, and contingencies in ouch amounts and for ouch periods as may be required by mortgagee, and wit ~y promgi:iy, when due, ~y rremiur:~s c:: such insurance for pa; n:cnt of : bleb pro~•isi~:i 1: not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and the policies and renewals thereof shall be held by mortgagee and have attached thereto loss payable clrir;ses in favor Of and ill f'v'aiIl acceptable t0 the Ft2C33~groOv. In c:'eIIt Of loss hC '.'fill ~a~2 ia.++:~i~diut% notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance company concerned is hereby authorized and directed to make payment for such lose directly to mortgagee instead of to mortgagor and u4ortgagee jointly, and the insurance proceeds, or any part thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force shall pass tG wo y,uiiiaaeei vi g-rdul,ee. 8. That the mortgagee mays at any time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and ouch court shall forthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, proms, issues, and revenues from whatever source derived, each and every of which, it being expressly under- stood, is hereby mortgaged as if apeciflcally set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a receiver, and such appointment shall be made by such court as an admitted equity and a matter of absolute right to said mortgagee, and without reference to the adequacy or inad- equacy of the value of the property mortgaged or to the solvency or insolvency of said mortgagor or the defendants, and that such rents, proflta, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of ouch court. In the event of any default on the part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee on demand as a reason- able monthly rental for the premises an amount at least equivalent to one-twelfth (31z) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes assessments, water rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. The mortgagor further covenants that should this mortgage and the note secured hereby not be eligible for insurance under the National Housing Act within 30 UAYS from the date hereof (written statement of any officer of the Federal Housing Administration or authorized agent of the Federal Housing Commissioner dated subsequent to the 30 DtiYS time from the date of this mortgage, declining to insure said note and this mortgage, being deemed conclusive proof of such in- eligibility). the mortgagee or the holder of the note may, at its option; declare alt sums xceurpd hPret+y ^'~+'~i uwa ::.~ py~vav. 10. That (a) in the event of any breach of this mortgage or default on the part of the mortgagor, or (b) in the event that any of acid sums of money herein referred to be not promptly and fully paid with- out demand or notice. or (e) in the event that each sad every the atipulationa, agreements, conditions, and covenants of said note and this mortgage, are not duly, prompfly, and fully performed ; then in either or any such event, the said ~r~ath sum mentioned in said note then remaining unpaid with interest accrued to that time, and au moneys ssenred heresy, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as tally and completely as it all of the acid sums of money were ~~~nslly stipulated to be paid ~ such day. anything in said-note or in this mortgage to the contrary notcei ding; and thtreupon or thereafter, at ht a option of said mortgagee, without notice or danand. suit at Lw or in equity, may tae pt~ as it all moneys secured hereby had matured prior to its insti- tntioa. The mortgagee may foreclose this mortgage. as to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the,wne together with costa, expenses, and allowances. In cane of partial foreclosure of this mortga~~e,~ the mortgaged premises shall be sold subject to the can- tinuing lien of this mortgage for ~ amount.of the debt not then due and unpaid. In such case the pro- visions of this paragraph maiy again be svaildd of thereafter from time to time by the mortgagee. li. That the mortgagor will ve imasediate notice by mail to the mortgagee of any conveyance, transfer, or change of owaershi* o~the~pramisea. 12. That no waiver of any covenant herein or of the obligation secured hereby atop at ~- time thereafter be held to bs a waiver of the forma hereof or oaf thq n(rte aecu:+ed hereby,: ~. (, ~~;