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HomeMy WebLinkAbout2513 - ---~ '!\.' "OJK 15 PAC[ Jti3 ! C;T. LUCIE C8UNTY, FLA. .. (&) of ~ph I PJ"8(*tln. IhaD DOt be IUMcieDt to pq ~d nota. tax_ aDd aueument. _d tnauru;:..rnmillD8t .. tile cue m&J be. when the lADle IbalI bacome due and payable, then the 1Il0ripKOr pay to the ~ &Il7 amount n~"1"J to make up the defkiency, OIl 01' before the elate whm ~t at auc:b IJ'OUDCI reDta; tax.. "WUI\enta, or inavanee pnmiuma ahall be due, If .. any ~. IDOrtpaol' ahal1 tender to the mortppe in aceordanee with the provwoil.a of the not. aecured hereby. f.n ~t of the ..Un indebtedneu repreleDted thereby, the mortpafie ahall, in com- P1tiDa the amoaat ofaueb indebtedn--. credit to the account of the mortpaor aD ~ent. made under the pnriaiona of (a) of.....raph 2 hveof which the mort.paee hu not become obl..ated to pay to the I'ederal BOWIiq Cnnwni..Jnner aDd ~ h.J.IlCe rem.ll'liq m the funda accumulated under the provisions of (&) of.aid ~ I. If there man be a default under &D7 of the proviaiona of thia mortgaae, re- a11till! ill a public &ale of the pl'tlDiaea covered hereby, or if the mortcaaee acquiree the propert)' other- 1riM alter default, the ~ ahall ap..ply. at the time of the commencement of such proceedings or at the time the property ia othennae ~{~ ~e balance then remainillJ in the funda ,~umulat~ under (b) of ))&tII.hpn 2 -preeediq.. a Credlt....nat the amount of princlpal then remalDlD. unpaId under aid note and Ihall properly adjuat any paymenta which aball have been made under (0) of said paragraph. .. That he will pay aD tax.. ...~6nta. water rates, and other IOvemmental or municipal charges, fin.. or impoeitiona. for which proviaion baa not been made hereinbefore. and in default thereof the mort- ppe may pay the ....e ; and that he will promptly deliver the oftleial receipt. therefor to the mortgagee. I), That he will permit, commit. or suffer no wute, impairment, or deterioration of said property or any part thereof; and in the event of the failure of the mortgagor to kP.ep the buildings on saio premises and thOM to be erected on said premises, or improvementa tlieieon, in good repair. the mortgagee ma)' make s~ch repain aa in ita diacretion it may deem neceuary for the proper preservation thereof.- and the full amount of each and every IUch payment ahall be immediately due and payable. and shall be secured by the lien of thia mo~ 6, That he will pay all and singular the coeta, chargee. and expenses. including reasonable lawyer's f~l and coata of abatracta of title, incurred or paid at any time by the mortgagee because of the failure on tne part of the mortgagor promptly and fully to perfonn the agreementa and covenanta of said prom- iaaory note and this mortpge, and said coeta, char~ee, and expenses shall be immediately due and pay- able and ahall be aecured by the lien of thil morta..., 7. That hEl will kee, the improvementa now exiating or hereafter erected on the mortgaged property, inaured u may be required from time to time by the mortgagee against loss by fire and other hazards. caaualtiea, and contingenciea 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 policiM and renewals thereof shall be held by mortgagee and have attached thereto Iou payable clauae8 in favor of and in fonn -acceptable to the mortgagee. In event of loss he will give immediate noti~ mail to mortgagee. and mortgagee may make proof of loss if not made promptly by mortgagor, and insurance company concerned is hereby t .thorized 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 here'>y secured or to the restoration or repair of the property damaged, In event of foreclosure of this mortgqe or other transfer of title tn the mortga~ed property in extinguishment of the indebtedness aecured hereby. ~l right, title, and interest of the mort~qor in and to any insurance policies then in force aball pua to the purchaser or grantee, 8, That the mort~ may, at any time pendin~ a suit upon thia mortgage. apply to the court hav- i~ jurooiction 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, iaauea, and revenuea from whatever source derived. each and every of which. it being expressly under- stood, ia 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 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 insolv~ncy of said mortgagor or the defendants, and that such renta, profita, income, iuues. and revenues shall be applied by such receiver according to the lien of thia mort~age .nd 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- 9ble monthly rental for the premises an amount at least equivalent to one-twelfth B12) of the aggregate of the twelve monthly installmenta payable in the then current year plus the actual amount of the annual tax~l aaaessmenta, water ratea, and insurance premiums for such year not covered by the aforesaid monUlly paymenta, 9. The mort.agor further covenanta that should this mortg~ .~d the note secured hereby not be eligible for insurance under the National Housing Act within30 UnY~ from the date hereof (written statement -of any oftker of the Federal Housin~ Administratien or authorized agent of the Federal Housing Commiaaioner dated subsequent to the 311 Qh'iS time from the date of this mortpee. declining to insure said note and this mortgage. l>emg deemed conclusive proof of such 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 {a) in the event of any breach of this mortgagp or default on the part of the mortgagor. or (b) in the event that any of said awns of money herein referred to be not promptl)' and fully paid with- out demand or notice. or (c) in the event that each and every the stipulations, agreementa. conditiona, and covenanta of said note and this mortpee, are not duly, promptly. and fully performed: then in either or any auch 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, .. fu lIy and completely as if an of the said sums of money were originally stipJllated to be paid on such day. anything in said note or in this mortgage to the contrary notwithatanding: and thereupon or thereafter, at the option of said mortgagee, without notice or demand. lUit at law or in equity. may be p~uted u if all moneys secured hereby hsrl matured prior to ita insti- tution, The 1!"'0r1P~ may foreel~ this mortgage, as. to the, amoun,t so declared due and payable, and the said preouaelJ.hall be IOld to aatiafy and pay ,the aametogether wlth cosb. expenses. and allowances, In cue of partial foreclosure of thia mortgve. the mortpl'OO premi.lea shali be sold subject to the con- tinuinglien of Uti. mortaaae for the ~ount of .tbe debt not then due and appaid, In such case the pro- viaions of this paragraph may apin be availed of thereafter from time to time by the mortgagee, 11. That the mortca80r will give immediate notice by mail to the mortgagee of any conveyance, tranafer. or change of ownership of the prembea. 12, That no waiver of any covenan"hereip.or of the obligation aec':lred hereby shall at any time thereafter be held to be a waiver of the tenna hereof ot of the note secured hereby.