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HomeMy WebLinkAbout0594 " .' "\, ~ ' ~'. '. ", . . ~ ,"' .. ~ - ,': ". ,', '. '." ,'... ,'. ~ '. . '. .' . < ~ ". . '. ' '. : - ,.:' C. )" 0, a: -BOOl 13 PACE594 J - . . $T. LUCIE COUNTY, HA, under (b.) of paragraph 2 precedinK shan not la ItdllC!l~t to pay INcnd rpnta, taxea and aueaamenta and insurance premiuma, as the caae may be, when the same shall become due and payable, then the morqagor aha11 pay to the mortaa~ any amount nec4!8l&ry to make up the deficiency, on or before the date when payment of such Kl'Ound l"-'nta.. taxes, aaaeeamenta, or insurance premiums shall be dUe. If at any time the morta'aaor shall tender to the mortK~ in accordance with the provisions of the note secured hereby, full payment of the 6fttire indebtedneu represented thereby, the mortKaKee8hall, in com- putiq the amount of sucll indebtedneu, credit to the account of the mortKagor all payments made under the provisions of (4) of paraaraph 2 hereof which the morta'8&'ee haa not become obligated to pay to the Federal Howi~ Commiaaion8l" and any balanct: remainin~ in the funda accumulated under the pro\'isions of (b) of Did par8&'J'8ph 2. If there ahall be a default under any of the provisions of this mortgage, re- sulti~ ~ a public sale of the premiaee covered hereby, or if the mortgagee acquires the propert)' other- wise after default, the mortgagee shaD apply, at the time of the commencement of such proceedings or at the time the property is otherwise acquired, the balance then remaining in the funds accumulated under (b) of i>&I'aa'I'aph 2 precedini.aa a credit against the amount of principal then remaining unpaid under said note and shall properly ~djuat any paymenta which shall have been made under (a) of said paragraph, 4, That he will pay all taxea, aaseaaments, water rates, and other governmental or municipal charges. fines, or impoaitions, for which provision haa not been made hereinbefore, and in default thereof the mort- gagee may pay the same; and that he will promptly deliver thE official receipts therefor to the rr..ortgagee. 5, That he will permit, commit, or suffer no waste, impairment, or deterioration of said property or any part thereof; and in the event of the failure of the m/)rtgagor to keep the buildings on saia premises and those to be erected on said premiaea, or improvementa thereon, in good repair, the mortgagee may make such repairs aa in ita discretion it may deem necessary for "the proper preservation thereof, and the full amount of each and every such payment shall ~ immediately due and payable, and shall be secured by the lien of this mo~ 6. That he will pay all and !lingular the coata, charges, and expenses, including reasonable law)'er's fees, and coats of abstracts of title, incurred or paid at any time by the mortgagee because 01 the failure on the part of the mortgagor j>romptly and fully to perform the agreements and covenants of said prom- ill80ry note and this mortgage, and said coats, chargea, and expenaea shall be immediately due and pay- able and shall be secured by the lien of this mortgage, . 7, That he will ke.:)) the improvementa now existing or hereafter erected on the mortgaged property, insured aa may be required from time to time by the mortgagee against 10S8 by fire and other hazards, casualties, and contingencies in such amounts and for such periods as may be required by mortgagee, and will pay promptly, when dUt!, any premiums on such insurance for payment of which provision h88 not been made hereinbefore. All ill8urance shall be carried in companies approved by mortgagee and the policiee and renew ala thereof shall be held by mortgagee and have attached thereto 1088 payable clauses in favor of and in fonn 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 8uch Iou 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 indebtedne3S 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 h\ extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force ahall pus to the purchaser 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 premisea covered hereby all and singular, including all and singular the income, profits, iaauea, and revenues from whatever 80urce derived, each and every of which, it being expressly under- stood, is hereby mortgaged aa 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 eq!Jity 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, profits, income, issues, and revenues shall be applied by such recei\'er accordin~ to tht': 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 B12) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual tax~l ,aaseaaments, water rates, and insurance premiwns for such year not covered by the aforeaaiJ monuuy payments, 9. The mortgagor further covenanta that should this mo rtgage and the note secured hereby not b-e eligible for inaurance under the National Houains: Act within ....0 DAYS from the date hereof (written statement of any officer of the Federal Houaing Admi'Dlstrat.on or authorizi:d agent of the Federal Housing Commiuioner dated subsequent to the 30 DAYS time from the date of this mo~ declining to inaure said note and thia mortgage, being deemed conclusive proof of such in- eliaibibty), the mortgape or the holder of the note may, at its option, declare all sums secured hereby immediately due and payable. 10. That (4) in the event of any breaeh of thia morli-qe 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 fully paid withe out demand or Dotic:e. or (c) in the event that each and every the stipulationl!, agreements, conditions, and covenant. of said note and thU mortraae, ~ 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 interelt aeeruer~ :,) that time, and all moneys lleCured hereby, shall become due and payable forthwith, or thereafter, at the option of ..id mortppe, .. fully and completely aa if all of the said sums of money were on.uwly stipulated to be paid on :ucl1 day, any thinK in said note or in this mortgage to the contrary notwitbatudi~: and thereupon or thereafter, at the option of said morts:agee, without notice or demand, IUlt at law or in equity, may be proaecuted .. if all money. secured hereby had matured prior to its insti- tution. 'nte mortgape may forecloee thll mortpae, aa to the amount 80 declared due and pa)'able, and the &aid premiaea shall be IOld to aatiafy and pay tile same together with C,)6ta, expenses, and allowancea, In eue of partial foreclonre of thla mortpp, the mortpged premises shaH be IOld subject to the con- tmuiq lien of thia mortpp for th~ ~wn~.Ll!t 'Yf th~ Ij#!!~ th@n d!!~ and unpaid. In such cue the pro- viaioDa of thia parqrapb may &pin be 6valled of thereafter from time to time by the mortKagee. 11, ""t the mortpaor '!ill ~ve immediate notice by mail to ~e plort,... of .soy conveyance, tranafer, or chanp of ownershIp of the premt.ea. ~ " 12. That no waiver of any covenant herein or of the obliption IeeUred hereby shall at any time :.her.fter be held ~ be a waiver of the tenna hereof or of the note MCUred hereby, .