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HomeMy WebLinkAbout2241 - - ) T. LUC![ c~'~n, FLA, undar (b) of paragraph 2 preceding ahall not be- aufficient to pay ground r~nts, taxes and assessments and insurance premiums, aa the case may be, when the same shall become (hl~ and payable, then the mortgago;:- shall pay to the mortgagee any amt.~unt necesaary to make up the deficiency, on or before the date when payment of 8uch ground rents, taxea, 8.&8esaments, or insurance premiums shall be dUe. If at any time the mortgagor shall tender to the mortgagee in accordance with the provisions of tilt' nott' secured hereby, full {)aYment of the entire indt:btedness ~epresented thereby, the mortgagee shall. in com- putin. the amount of such indebtedness, credit ~ the account of the mortgagor all pa?'ments 1ll11lL.- IInd,'r the provisions of (a) o~ p~agraph 2 hereof which th~ ~o~gagee has not become oLhgated to pay to. the Fec:eral Houbi~ Commu581Oner and any balance remammg m the funds accun~u.1ated undt;r th" \lrll\ 1;;lOns of (b) of said paragraph 2, If thel'~ shall be a default unde.r any of the prOVISIOns of this nIllrtl(<I!{\', r,'- aulting in a public sale ()f the prermsea covered heret.>y! Qr If the mortgagee acqUlr~g the property "ther- wise after default, the mortgagee shall apply, at the time of the commencemen -: of such pr()('t,clhn!{;; or at the time the property is otherwise acquired, the balance then remaining in the funds acculllu!at,'d \lIHh'r (b) if paragraph 2 preceding. as a credit against ~e amOl1nt of principal tl.~n rf'maining unpaid und-;r aaid note and shall prope~ly adjust any payments which shall have been made under (a) of said para~rapn. 4. That he will pay all taxes, assessmenl1l, water rates, and othr:c guvernmental or municipal char~es, fines, or impositions, for which provision has not been ~ade hereinl?efori!, ~nd in default then'Of the mort- lagee may pay the same; and that hI:! will promptly deliver the offiCial receipts therefor to the n~ortgagee. 5. That he will permit, commit, or suffpr 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 buildirlg8 on saili pr.'misl's and those to be erected on said premises, or improvemenlll thereon, in good repair, tr.e mortgag\'!' may make such repairs as in illl discretion it may deem necessary for the proper preservation thereof, and the full amount ot each and every such payment shall be immediately due and payable, and shall be secureo by the lien of this mortgage. 6, That he will pay all Pond singalar the costs, charges, and expenses, including reasonablf' lawyer's fee8, and costs of a.bstrliCts of title, incurred or paid at any time by the mortgagee because of th,' failure on the part of the mortgagor promptly and fully to perform the agreements and covenants of ;;aid prom- issory note and this modgage, and said costs, chargea, 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 no\\: exiating or hereafter erected on the mortgaged property, insured &8 may be required from time to time by the mortgagee against loss by fire and other hazards, casualties, and.contingencies in such amounts and for such periods as may be required by mortgal':'\'c, and will pay promptly, when due, any premiums on sLlch insurance for paynwnt of which provision has not lxen made hereinbefore. All insurance shall be carried in companies approved by mortgagl'" and the pollCles and renewals thereof shall be held by mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the mortgagee. In event of loss he will give illul1!'diate 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 1088 directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance pr()(:el'l!s, or any part &,ereof, may be applied by mortgagee at its option either to the reduction of the indl'btedness 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 :nterest ot the mortgagor in and to :my msurancc policies then in force ahall paaa to the purchaser or grantee, 8, That the mortgagee may, at any time pending a suit upon this mortgage, apply to Hie court hav- ing jurisdiction thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premises covered hereby llll and singular, including all and singular the incon1P. profits, is.sues, 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 broa d 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, profilll. income, issues, and revenues shall be applied by such n>c('iver according tv 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 pa.y to the mortgagee on demand as a r('ason- able monthiy rental for the premises an amount at least equivalent to one-twelfth (~i2) of the aggn'gate of the twelve montl:ly installments payable in the then current year plus the actual amount of the annual tax~l assessments, wakr rates, and insurance premiums for such year not co\'Cred by the aforesaid momnly payments. 9. The mortgagor further covenants that should this mortgage amI the note secured hereby not be eligible for insurance under the Nationai Housing Act within . 90 ~. from the date hereof (written st&.tement of any officer of the Federal Houaing AdministratIOn or authorized agent of the Federal Housing Commissioner dated subsequent to the aa14 . time from the date of this mortgage. dedining to insure said note and this mortgage, being deemed conclusive proof of such in- el~bility), the mortgagee or the holder of the !.lote may, at its option, declare all ~ums secured hereby 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 th~t any of sp.~d sums of money herein referred to be not promptly and fully paid with- out demand or notice, or (c) 10 the event that each and every the stipulations, agreements, conditions, and covenanta of aaid note and ~ia mortgage, are not duly, promptly, and fully performed; then in either or any ~.uch event, ,the saId "ggr~te sum mentioned in said nute then remaining unpaid, with interect accrued to tha~ .tIme, a.n~ ail moneys secured hereby, shall become due and payable forthwith, 0: thereafter, at the option of said mortgagee, aa fuliy and completely as if all of the said sums of money were original~y stiPll1a~ tl) be paid on such day, anything in said note or in this mortgage to the contrar)' notwithatandUli'; and tnereupon or thereafter, at the option of said mortgagee, without notice cr demand suit at law or in equity, may b".! prosecuted as if all moneys secured hereby had matured prior to its in8ti~ tution. 'i'he mortgagee may foreclose this mortgage, a.s to thf; amount so declared due and payable and tho u.id prem~ shall be 30ld to satisfy and pay the same togethel' with costs, expenses, and allowa~ces. In cue of partial foreclosure of this mortgage, the mortg&ged premises shall be sold subject to the con- tinuillJ'lIen of U1ia mortgage tor the amount of the debt not then due and unpaid. In such case the pro- vialo!ll (If t.'lla pal'&lTaph may &iain be availed of thereafter from time to time by the mortgagee, 1.1. That the morla-agor will give immediate notice by m'\il to the mortgagee of any conveyan(.e, tranafer, or ehange of ownership of the premise4, 12. That no waiver of any eov~tUmt hel'ein or of the obligation secured hereby shall at ar.y tirle thereatU:r be held to be . wai....er of the terms hereof or of the note ~ured heleby. - : ~"',:,.-{ ,