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HomeMy WebLinkAbout1153 ~b~i1 - 14 rAcE 403 ~ . T. LUCIE COUNTT. ru. ader (b) of parqrapb 2 pzw-'II\CIhall not be IUMcict to pq ~d renta, tax. ad u.- "'4lIlta and inaur~C:lfremiuma, u the cue mq be. _beD the lame IbalI become due and payable. then the 1Il0l'tppr P&7 to the mortc..- AD7 amount 1'1-'.17 to make up the defteiency, OIl or before the date when payment of .uch P'OUDd nnta, tax., ...ementa; or inIu.rance pnauuma ahall be due. If at any time the mortaqar aha1l tender to the mor!Plee in IlCCOrdaDce with the proviaioDa of the note 8eC,!r<<I hereby, full ~t of the ctire ~ebtedlieu repl'eHDted thereby. the mortppe ....11. in com. ~utina th~ &IDOOIlt of .uch indebtedn... emit ~ the account of the mol'tcqor all PApnenta made under the pru~ialO~ of ~ o~ parqrapb 2 ~f whieh the Il\ortaqee baa not become obh~ated to pay to the Federal Ho~q m.qioner and ~ balance remainiq iii the tunda accumulated under the provisiona ot (b) o.f laid ~ph 2. If ~ aIiaD be . default under &D7 of the proviaiou of thia mortpp, re- Ilultina m a public sale of the prem... covered hereby, or if the mortaqee acquiree the property other- wiae .after default, th4! ~ ahaI1 apply. .t the time oftheC:ommencementofauch proceedinpor.t the time the properly I. o~erwlM acquired, the balance then remaininj in the tunda accumulated under (b.> of parqrapn 2 p~ec:bllf," a c~it againat ~ amount of principal then remainin. unpaid under laid note and ahall properly adjuat any payments whlC:luhal! have been made under (a) of ..id parqraph. 4. That he will PAy all taxea, ...~enta. w.ter ratee, and other aovernmental or municipal charpa. fines, or impoeitiol1al, for which proviaion baa not been made hereinbefore. and in def.ult thereof the mort- paee may pay the same; and that he will promptly deliver the offtcial receipts therefor to the Jr.ortpgee, 6, 'I'hat he will pet:mit. commit, or suffer' no waate, in:pairment. or deterioration of laid property or - any part thereof; and In the event of the failure of the mortgagor to keep the buildings on saia premises and those to be .erecte,d ~n ~id p~~, or improvements thereon, in good repair, the mortgagee may make such repairs aa 1D Ita dl8Cretlon It may.,deem neceaaary for ~ proper preservation thereof, and the full amount of each and every such payment ahaII be' immediately due and payable and aball be secured by the lien of this mortgap.. _, _ 6, That he will pay all and singular the costs, charges, and expenaea, including reasonable lawyer's feee, and costa of abstracts of title, incurred or paid at any time by -the mortgagee because 'of the failure on the part of the mortpgor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage, and said coats, charges, and expenaea shall be immediately'due and pay_ able and shall be secured by the lien of this mort~age. 7. That he will keep the improverl1enta now existing or hereafter erected on the mortgqed property, insured as may be required from time'to time by the mortgagee against loss by fire and other hazards, casualties, and contingencies in such amounta and for such periods aa may be required by mortgagee, and will pay promptly, when due, any,premiums on such insurance for payment of which provision haa not been made hereinbefore, All insurance shall be carried in companies approved by mortgagee and the policies and renewala 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 10M he will give immediate notice by mail to mortgagee, and mortgagee may make proof of Iou 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 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 mortgage or other transfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the mortgagor in and to any insurance policies then in force ahaII pay to the purchaser or grantee. 8. That the mortgagee may, at any time pending a suit upon this mortlage, 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, iaaues, and revenues from whatever source derived, each and every of which, it being expressly under- stood, is hereby mortgaged 88 if specifically set forth and described in the granting and habendum clauses hereof, and such receiver shall have all the. bl"Of.d and effective functions. and powers in anywise entruated by a court to a receiver, and such appointment shall be made by such court aa an admitted equity and a ma~r of absolute right to said mortgagee, and w~thout 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 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 <Vt2) of the aggregate of the twelve monthly installmenta payable in the then current year plus the actual amount of the annual taxes. 888e8aments, water rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. The mortgagor further covenants that should this mo rtgage and the note secured hereby not be eligible for insurance under the National Houaing Act within 30, ~;.':'; '_, ' from the date hereof (written statement of any officer of the Federal Houaing Administration or authorized agent of the Federal Housing Commissioner dated subsequent to the '. _ h " time from the date of this mortgage. declining to inaure said note and this mortgage, being deemed conclusive proof of such in- e1~bility), the mortg~e or the holder of the note may, at its option, declare all sums secured hereby immediately due and payable. 10. That (0) in ihe event of any breach of this mortgage or defa~lt on the part of the mortg~gor! or (b) in the ever.t that any of said sums of money herein referred to be !lot p~omptl)' and fully paid. ~Ith- out demand or notice, or (c) in the event that each and every the stipulations. agreementa, condltJo~, and covenants of said note and this mortpp, are not, duly"pro~ptly. and fully ~r!ormed; .then ,m either or any such event, the said aggregate sum menboned 10 said nate then remammg unpaid. ~lth interest accrued to that time, and all moneys secured hereby, shall become due and payable forthWIth, or thereafter at the option of said mortgagee, aa fully and completely aa if all of the said 8ums of money were oriainaliy stipulated to be paid on .uch day, anything in said note or in thisll!ortgage t~ the contrary notwith.atanding; and thereupon or thereafter, at the option of said mortgagee, Without nO~lce or ~e~an~, 80it at law or in equity, may be Pl'OHCUted as if all moneys secured hereby had matured prior to Ita IMb- tution. The mortgagee may foreclose this mortgAJe, aa to the amoun,t so declared due and payable, and the said premises shall be sold to satiafy and pay tile same together With costa, expenses, ~nd aUowances. In case of partial foreclosure of thw mortgage, the mortgaged premises shall ~ sold subject to the con- tinuin~ lien of this mortpge for the amount of tile d~bt not then d';1e and u.npald, In luch case the pro- visions of this parqraph may again be availed of thereafter from time to time by the mortgagee, 11. That the mortppr will give immediate notice by mail to the morte..- of any conveyance, transfer, or change of ownership of the premilea. 12, That no w.iver of any coven&Qt herein or of the obligation It.'Cured hereby ahaU at any time thereafter be held to be a waiver of the terml hereof or of the note 18CU~ hereby.. ~'