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Home My WebLink About1148 o o,~: BOOK o 14 PACE398 ~ ~ T. LUCIE COUNTY. HA. under (b) of 'paracraph 2 precedina Iha1l not be auftkient to pay rround renta. taxes and uaeaamenta and inauran~lfremiuma, &I the cue ID&7 be, wbeD the lAlDe ahall become due and payable, then the mortJral'Or pay to the mona..- aD)' amount necef'-"Y to.make up the deficiency, on or before the date when payment of audl around rent.. tax.. "i'1'.rnenta, or in.aurance premiuma shall be due, If at any time the mortppr ahaJl tender to the mortppe in accordance with the proviaiona of the note aecured hereby, full ~t of the enUre indebtedneu repre8ented thereby, the mortaape shall, in com- putiq the amouut of auch indebtednea. credit to ttle account of the mortaqor all paflllenta made undel' the proviaiona of (4) of parqraph 2 hereof which the mortaaPe hu not become obligated to pay to the Federal Houaiq Commiaaioner and AllY ~ remainin, in the lunda accumulated under the provisions of (b) of said par-.raPh 2. If there aball be a default under any 01 the proviaiona of this mortgage, re- aultiq in & public sale of the premiaee covered hereby, or if the mortgagee acquires the property other- wiae after default, the mo~ abal1 apply, at the time of the commencement of such proceedings or at the time the property ia otherwISe acquired, the balance then remainina in the funda accumulated under (b) of par....aph 2 precedinl.u a credit &pinal the amount of principal then remaining unpaid under said note and ahal1 properly adjust any payment. which ahall hav~ been made under (4) of said paragraph. 4. That he will pay all tax.. ua~"'enta, water rate.. and other governmental or municipal charges, fines, or impoaitiona, for which proviaion hu not been made hereinbefore, and in default thereof the mort- ppo may pay the aame; and that he will promptiy deliver the official receipta therefor to the rr.ortgagee. 5. That he will permit, commit, or suffer no wute, impairment, or deterioration of said property or any part theraof; and in the event of the failure of the mortgaaror to keep the buildings on sain premises and those to be erected on said premiaea, or improvementa thereon, in good repair, the mortgagee ma)' make such repain as in ita diacretion it may deem neceaaary for the proper preservation thereof, and the full &mount of each and every IUch payment ahal1 be immediately due and payable, and ehall be secured ,by the lien of this mo~ 6, That he will pay all and ainauIar the co.ta, ch~, and expenses, including reasonable lawyer's fees, and costa of abstracta of title, incurred or paid at any time by the mortgagee because of the failure on the part of the mort~aaor promptly and fully to perform the agreementa and covenants of said prom- iaaory note and thia mortgaa'e, and said eosta, charKes, and expenaea shall be immediately due and pay- able and ahall be secured by the lien of this mortgqe. -- 7. That he will keep the improvementa now exiating or hereafter erected on the mortgaged property, inaured as may be required from time to time by the mortgagee against Iou by fire and other hazards, eaaualtiea, and contingencies in such amounta and for such periods 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 renew a" thereof shall be held by mortgagee and have attached thereto 1088 payable clauaea 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 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 ita 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 intereat of the mortpgor in and to any inaurance policies then in force ahall pua to the purehaler or p-antee. 8. That the mortgaaee maf, at any time pending a suit upon thia mortgage, apply to the court have. ing jurisdiction thereof for the appointment of a receiver, and such court shall forthwith appoint a receiver of the premiaea cCJvered hereby all and singular, including all and singular the income, profits, iaauea. and revenues from whateve,r source derived, each and every of which, it being expressly under- ltood, is hereby mortpged u if specifiea1Jy set forth and deaeribed in the granting and habendum clauaes hereof, and such receiver ahal1 have all the broad and effective functiona and powen in anywise entruated by a court to a receiver, and such appointment shall be. made by such court as an admitted equity and a matter of abeolute right to said mortgagee, and without reference to the adequacy or inad- equacy of the value of the property ruort,aged or to the 1I01Y'ency or insolvency of said mortgagor or the defendant., and that such rent., profit&. mcome, iuuea, and revenues shall be applied by auch receiver ac:cording to the lien of thia mo~e and the practice of auch 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 leaat equivalent to one-twelfth n~2) of the aggregate of the twelve monthly inatallmenta payable in the then current year plus the actual amount of the annual tax~l,~e-"''''''1mta. water rat., And insurance premiuma for auch year not cover_>d by the aforesaid monUU7 pe.ymenta. ' 9. The mortpcor further covenanta that eould thia mortgage and the note secured hereby not be eligible for inaurance under the National Housmr Act within 30 DA't.) from the date hereof (written atatement of any oCfteer of the Federal Houaing Adminiatration or authorized agf!nt of the Federal Houaina ~iaaioner dated s~~uent to the ~f"\;: ).Y,) tim~ from the date of this mortpp, deeliniq to maUN uid note and thi& moncage, 6emar deemed conclUSive proof of such in- eli<<iliilfw). the mortppe or the holder of the DOte may, at ita option, declare all sums secured hereby immediately due aDd pa,abie. - 10. That (4) in the event of any breach of thia mortpp or default on the part of the mortgagor, or (b) ill the event that any of uid auma of IIlOIMl7 herein referred to be not promptly and fully paid with- Out demand or Datie8r or (e) in the event that each and every the atipulations, qreementa, conditions, aDd COYeIWlta of uid DOte aDd tbia mortpp, are not duly, promptly, and fully performed; then in either 01" any aueh event, the uid agrepte .om mentioned in said note then remaining unpaid, with iDt.er.t accrued to that tim.. aDd all mooeya ~ hereby. ahall bec:ome due and payable forthwith, 01" thereafter, at the option of said IIlOl'tpper. u fully aDd comDletely u if all of the said sums of money were ori.maDY ati~ted to be paid OIl auch da7, aD1thina in aaia note or in thiA mortar&p to the contrary DOtrl~; And U--pclIl 01' thereafter, at the optiOD of said moncaaee, \\ithout notice or demand, IUlt at law 01" ill equity. may be ~ ull all mODeJa HCUreCl hereby had matun:d prior to ita inati- tatiOll. The 1il6rqp.pe iD&J fOrecloM thIa JDOI'tpp... to the amount 10 declared due and pa)'able, and the uid vnmiMa IhaIl be f!OId to ..u.t, aDd Pai the urne topther with c:oeta, expenaee. and allowancee. Ia eue Of ~ 10recloRre of th1a mortpp, the ~ ~iaeI ahail be 101d subject to the con- tlnuina BeD of ttda IJlOI't.pp for the amoUDt-of the d.lbt not then due and unpaid. In.uch cue the pro- viaiou of thia penpapIl ....., ...... be .vallee! of thereafter from time to time by the mortppe. 11. That the mortpaor wiD ~w tr--tiate n~ by mail to the mortppI of any eonveyance, tnufer. or chaDp of oWMnhlp of the pJ'tllPI- ' 12. That no waiver of aDJ' conaant ..... or of the obUpt1on r<<Ured herebY ah.all at any time thereafter be MId to be . waiver 01 the ... hereof 01' of the .. MCUed henby. , .~ \ ~ t ,~'. . ..' " .~ .' , ~ . - ---...,.--......---~~_..-. - -- - ..~---~~----------.._~-~-"'.-..''''-'- ..-.............. "--- .--.-......'.... ..", - . .----' ..-