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HomeMy WebLinkAbout0678ST.~~LI~IE COUNTY FLA. - under ~(b) of paragraph 8 preceding shall not be su>mde~at to psy d teats, taxes sad assessments and insurance premiuma~ as the case mq be, whoa the same shall become due and payable, then the mortgagor shall pqy to the mortgagee agtr amount neo®saary to mai<e np the deficiency. on or before the date when payment of such ground rents, taxes. assessments, or insurance premiums shall be due. If at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of the note secured hereby, lull payment of the entire indebtedness represented Thereby, the mortgagee shall, in com- puting the amount of such indebtedness„ credit to the account o! the mortgagor all p~-ments made under the provisions o! (a) of paragraph 2 hereof which the mo has not become obligated to pay to the Federal Housing Commissioner and say balance remainina~ in a funds accumulated under the provisions of (b) of said par 2. If theme shall be s default under any o! the provisions of this mortgage, re- sulting in a public a-la e_ of the premises covered hereby, or if the mortgagee acquires the property other- wise after default, the mortgagee shall apply, at the time o! the commencement of such proceedings or at the time the property is otherwuse acquired, the balance then remaining in the funds accumulated under (b) of paragraph 2 preceding sa a credit against the amount of principal then remaining unpaid under said note and steal! pmpE•_*ly adjust any gsvmenta which shall hAvP >?~n_ m,~dn under (,a_) c-f said paragraph. 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines, or impositions, for which provision has not been made hereinbefore, and in default thereof the mort- gagee may pay tiie same; and that ha will promptly deliver the official r2c:~ipia tf-,arEfor to the ;rortgsgcc. ` 'll '• fwi r~.~R~r nn sv~o ~ wf1'ff+e irf7.nn!~ nr A+~arinr'~inn of aoi~ TYnTPY'tV nr U, TrlBt ll~ S'r Ill pcraiai Yf ~virusaat, ~ t , uZ.w...••-.•a v, d _ r _ _ r _ _ 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, or 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 full amount of each and every such payment shall be immediately due and payable, and shall be secured by the lien of this mortgage, 6. That he will pay all and singular the costa, charges, and expenses, including reasonable lawyer's fees, and costa of abstracts of title, incurred or paid at any time by the mortgagee because of the failure on the part of '.,he mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage, and said costs, charges, and expenses shall be immediately due and pay- able and shall be secured by the lien of this mortgage. 7. That he will keep the improvements now existing or hereafter erected on the mortgaged property, insured as may be required from time to time by the mortgagee against loss by fire and other hazards, •";$aiissiiic~, ciiu __. -- -=t:::"~~. : =..~ii _:_~_:ii~' `•a s^ •_-~ ^ti` •••'••;•,•~~_ ee moo -~n r~~~firoa by tnnrtoaosfe• and will pay promptly, when due,•any premiums on such insurance for payment of which prop°ision has not been made hereinbefore. All insurance shall be carried in companies approved by mortgagee and t ,e E,;,lici;A a^d r~^Pwals ±her~f shall Fw i~Pl(1 by mortgagee and have attached thereto loss parable clauses in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate 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 loss directly to mortgagee instead of to mortgagor and mortgagee 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 .,:orvg~pgo :,r :.thor tra^.sfer of title to the. rrZnrtgAgPr~ nrnjwrtV 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 to the purchaser or grantee. S. That the mortgagee may, at any time pending a suit upon this mortgage, apply to the court hav- ing jurisdiction thereof for the- appointment of a reccjver, and aueh court sh ~1 forthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and every of which, it being expressly under- stood, is hereby mortgaged as if specifically 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 adequac~• 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, profits, income, issues, and revenues shall be applied by such receiver according to the lien of this mortgage and the practice of such 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 (!12) 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 ~0 D:~YS 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 ,;~ D,~YS time from the date of this mortgage, declining to insure said note and this mortgage, being eemed conclusive proof of such in- +t, ~ 1~_r `~ }L„ ,...L„ ~,.`..,. u± ;+n nnfinn r1PrlarP all sums secured hereby iiiKiuiiitylr the iilOYtgagee or ~i.c fv.~a+c• ..:~ ,.~:..: .:.~, ~.- ._ -,-__-.-: immediately due and payable. 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 said sums of money herein referred to be not promptl~~ and full; paid with- out demand or notice, or (c) in the event that each and every the stipulations, agreements, conditions, and covenants of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the acid aggregate sum mentioned in said note then rmmaininv unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as fully and completely as if all of the said sums of money were originally stipulated to be paid on such day, a thing in said note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, at the option of said mortgagee, without notice or demand, suit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to its insti- tution. 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 same together with costs, expenses, and allowances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sod subject to the con- tinuing lien of this mortgage for the amount of the debt not then due and unpaid. In such case the pro- visions of this paragraph may again be availed of thereafter from time to time by the mortgagee. 11. That the mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or change of ownership of the premises. 12. That no waiver of any covenant herein or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms 1-iereof or of the note secured hereby.