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HomeMy WebLinkAbout0557 ST. LUCIE COUNTY, FlA. ander (b) of paraaj-ajm 2 p~q ahaD Dot tie aumclent to pa)' JnM.Uld renta, taxes and aueumenta and inauran~rremiwna, &I the UN ma,y be. wbtlD the aame abaII become due and payable, then the mortaqor pay to the Mortar... any'amount nec:euary to make up the deftcieney, on or before the date when payment of IUch P'Ourid renta, tax., "'--"'Imb. or inauranee premiuma ahall be due, If at any time the mortpcor mall tender to the mortpaee in accordanee with the proviliona of the note aecured hereby, full payment of the entire indebtedneu repreeented thereby, the mortppe shall, in com- putina the amo~nt of auch lndebtedneu, eredit ~ the aeeount of themortp&or all PAf1Dcnts made under the proviaiona of (4) of paraarAph 2 hereof which the morta... haa not become obhpted to pay to the Federal Houaint Gommiuioner and any balance remainiq in thlll funda accumulated under the provisions of (b) of aaid paraa-rapb 2. If thote ah41l be a default under any of the proviaiona of thil mortgage. re- lultiq in a public we of the premiMI covered hereby. or if the moNaPe aequiree the property other- . wiae after default. the mortgaa{M ahall apply, at the time of the commencement of such proceedings or at the time the property is o~erwlae aequi~, ~e balance then re~il1J in the funda accumulated under (b) of parqTaph 2 precedm"u a erecbt agamst ~ amount of principal then remaining ~npaid under Aid note and shall properly adJuat any paymenta which shan have been made undet' (4) of saId paragraph, 4. That he will pay all taxes, U,lepmenta, water ratee, and other governmental or municipal charges, ftnea. or impoaitiona. for which proviaion baa not been made hereinbefore, and in default thereof the mort- paM may pay the aame; and that he win promptly deliver the official receipts therefor tQ the rr.ortgagee. 6. That he will permit, commit, or suffe~ no waste, impairment, or deterioration of aaid property or any part thereof; and in the ~vent o~ the fal~ure of the mortgagor to.keep the buildinis on saia premises and those to be erected on saId prenllae&, or Improvementa thereon, m good repair. the mortgagl'C may make such repairs as in ita 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 mortgqe.. 6. That ~l~ \yill pay all and. sinJ.ular the costa,. chs.rges, a!1d expenses, including reasonable law,rer's feea, and c8sta of abstracts of tItle, Incurred or paId at any time by the mortgagee because of the failure on the part of the mort~or promptly and fully to perform the agreements and covenants of said prom- it-~ot'Y note and this mortgage, and said costs, charaes, and expenses shall be immedi:llely due and pay- able and shall be secured by the lien of this mortga~, 7. That he will keep the improvements now existing 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 amou~ts and for sucD ~riods as may be required by mortgagee, and will pay promptly, when due, any premIUms on such insurance for payment of which provision has 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 cla\18es 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 1088 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 proceeds, or any part thereof, may be applied by mortgagee at ita option either to the reduction. of the indebtedne.~s hereby secured or to the restoration or repair of the property damaged, In event of foreclosurp. (If thiR mortgage or other transfer of title to the mortgaged property in cxtinguishmenfOf the indebtedness secured hereby, all right, title, and ihterest of the mortgagor in and to any insuranr.e policies then ill force shall pa88 to the pur:chaaer or grantee. 8, 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 receiver, and such court shall forthwith apPoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits. issues, and revenut:S from whatever source derived, each and every of which, it being expressly under- stood, is hereby mortgaged &8 if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the broad and effecti\'e functions and powers in anywise entrusted b)" a court to a receiver, and such appointment shall be made by such court 88 ail allmitted equity and a matter of absolute right to said mortgagee, and without refer€nce to the adequacy or inad- equacy of the value of the property 'mortgaged or to the solvency or insolvency of said mortgagor or the defendanta, and that such rents, profits, income, issues. and re..enues shall be applied by such receiver according to the lien of this mortgage and the practice of such court. In the event cf any ddault 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 (lib) of the aggregate of the twelve monthly installments payable in the then \:urrent year plus the actual amount of the annual taxe:s, assessments, water rates, and insurance premiums for such year not covered by the aforesaid montnly payments, 9. The mortgagor further covenants that should this mortgage aud the note secured hel'eby not be eligible for insurance under the National Housing Act within . from the date hereof (written statP.ment of any officer of the Federal Housing Administration or authorizei agent of the Federal Housing Commissioner dated suhaequent to the time from the date of this mortgage, declining to insure said note and this mortgage, being deemed conclusive proof of ~mch in- eligibility), the mortgagee or the holder of the note may, at its option, declare all sums secured hereby immediately due and payable ' 10, That (0) 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 suna of money herein referred to be not promptly and fully paid with- out demand or notice, or (c) in the event that each and every the stipulations, agreements, conditions, and covenanta of said note and this mortgage, are not duly, promptly, and fully performed; then in either or any such event, the said aggregate sum mentioned in said note then remaining unpaid, with interest accrued tG that lime. and all moneys secured hereby, shall become due and payable forthwith, Jr thereafter, at the option of said mortgagee, 88 fully and completely as if all of the said ~ums of money were originally stipulated to be paid on such day, anything in said note or in this mortgage to the contrary notwithatanding; and thereupon or thereafter, at the opti<:>o of said mortgagee, without notice or demand, suit at Jawor in equity, may be prosecuted as if all money! secured hereby had matured prior to its insti- tution, The mortgagee may foreclose this mortgage, &8 to the amount so declared due and payable, and the said premises shall be sold to satisfy and pay the same together with costa. expeilses. and allowances, In case of partial forecloaure of this mortgage, the mortgaged premises shall be sold subject to the con- tinuina lien of this mortgage for Ule amount of the debt not then due and unpaid, In such case the pro- visions of this pa1."aiTaph 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 at thE.> obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby, , -' -. .~ - .' : . ~ .