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HomeMy WebLinkAbout1475 . ~~CIE-COUNH, FlA. . aDder (b) of panaraph 2 p ~ alW1 not be ~ent to pq ~d renta, taxes and aueumenta and inaurance premiuma, .. the eue may be. when the aame- ahall become due and payable, then the mortpaor shall pay to the mortppe aD)' amount neceuary to make up the deftciency, on or before the date when payment of suell P'OUJ:ld renta. tax.. "~."'enta, or inauranee premiwna ahall be due. 1f at any time the mortpaor shall tender to the mortppe in aecordance with the provisiona of the note secured hereby, full ~t of the entire indebtedneu repreeented thereby, the mortpcee shall, in c0m- puting the amount of .uch indebtediieu. credit ~ the account of the mortpJOr all payments made under the provisio~ of (4) o~ ~ph 2 hereof Which th~ ~o~ baa not become obhgated to pay to the Federal Bouma Comrr""lOner and aD)' balance remammam the funct. accumulated under the provisiona of (b) of laid ~pb 2. If the1'e abaH-be a default under any of the proviaiona of this mortgqe, re- lultiq in a public we of the premiaM covered hereby ~ or if the mortaq'ee acquires the propert). othe?- wise after default, the mortgagee shall apply, at the time of the commencement of such proceedings or at the time the property i. otherwise acquired, ~e balance then remainina in the funda accumulated under (b) of paragraph 2 Precedini.aa a credit qalnat ~ amount of principal then remaining unpaid under aaid note and shall properly adjust any paymenta which shall have been made under (4) of said paragraph. . 4. That he will pay all taxes, aaae~.menta, water rates, and other governmental or municipal charges, ftnea, or impoaitions, for which provisi~n baa not been ~ade hereint.>efore, ~d in default thereof the mort- gqee may pay the same j and that he Will promptly deliver the- offiCial receipts therefor to the mortgagee. 6. That he will permit, commit, or auffe~ no wute, impairment, or oeterioration of said property or any part thereof j and in the event of the failure of the mortgagor to keep the buildings on saia premises and those to be erected on said pro...miaes, or improvementa thereon, in good repair, the mortgag'!e 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 mortgage. 6. That he will pay all and. sin~lar the c08ta,. charges, a~d expenses, including reasonable lawyer's fees, and coabl of abstracta of title, mcurred or paid at any time by the mortgagee because of the failure on the part of the mortgagor prompt1~ and fully to perform the agreementa and covenants of said prom- issory note and this mortgage, and said coats, charges, and expeIl8e8 shall be immediately due and pay- able and shall be ~ured by the lien of this mortgage. 7. That he will keep the impr<?vemen~ now existing or hereafter: erected on the mortgaged property, il18ured as may be required from time to time by the mortgagee agamst loss by fire and other hazards, casualties, and contingencies in such amou~ta and for su~h periods as ma~' be required by mortgagee, and will pay promptly, when due, any premllJms on such msurance 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 claU1Je8 in favor of and in form acceptable to the mortgagee. In event oi loss he will give immediate notice by mail to mortgagee, and mvrtgagee 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 loss directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or an)' part tht'reof, 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 interest of the mortgagor in and to any insurance policies then in force shall pasa 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 premises covered hereby all and singular, inciuding all and singular the income, profits, issues, and revenues from whatever source derived, each and every of which, it being expressly under- stood, ia hereby mortgaged as 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 recl rer, 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 deft!ndants, and that such renta, profita, 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 0'12) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual iaxes, assessments, water rates, and insurance premiums for such year not covered by the aforesaid montnh' paymenta. 9. The mortgagor further covenanta that should this mo rtgage and the note secured hereby not be eligible for insurance under the National Housing Act within 30 DAYS from the date hereof (written statement of any officer of the Federal Housing Administration or authorized agent of the Federal Housi~g. Com~issioner ~ated subsequ~nt to the :',0 e"Y~ tim~ from the date of t~is mortgage, dechnmg to msure said note and thiS mortgage,- bemg deemed conclUSive proof of such m- eligibility), the mortgagee or the holder of the note may, at ita option, declare all sums secured hereby immediately due and payable. 10. That (4) 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 SUJna 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 thia 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 to that time, and all moneys secured hereby, shall become due and payable forthwith, or thereafter, at the option of said mortgagee, as 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 notwithstanding; and thereupon or thereafter, at the option of said mortgagee, without notice or demand, luit at law or in equity, may be prosecuted as if all moneys secured hereby had matured prior to ita insti- tution. The mortgagee may foreclose this mortgage, as to the amount so declared due and/ayable, and the said premises shall be sold to satiafy and pay the same together with costs, expenses, an allowances. In case of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- tinuinglien of this mortgage for the amount of the debt not then due and unpaid. In such case the pro- visions of this paragraph may again be availed of thereafter from time to ,time by the mortgagee. 11. That the Plortgagor will give immediate notice by mail to ~he mortgagee of any conveyance, transfer, or change of ownership of the premiaea, 12. That no waiver of any covenant herein or of the obligation secured hereby ahall at any time thereafter be held to be a waiver of the terms hereof or 0: the note secured hereby,