HomeMy WebLinkAbout0516
'~r. LUCIE COUNTY. FLA.
and insurance premiu~, as the cue mAY be. IUch .d..... th.aU be credited by the mo~ on 8uheequent
paymenta.to be made by the mort~r. 1f, however, the monthly paymenta made by the mol'taIlJlOr-
\U1de1' (b) u1 ~ph 2 preceding ahall not be JUft\clent to par grDUl1d rents, taxea and ~tlI
and inaul"ancepremiutn8r ... the eaae may be, wh_.the same Ihall bec:omti due and ~ then the
morta-agoJ' MAll pay to the mort~ any amount n&cesaa.ry to m.rJce up the deticienci. on or before the
date when payment of sudl grouoo nmu, taxes, ~menta. or inaurQIlce premiuma ahall be due. It
at any tim~ the DlOl'tgagor shail tender to the mortgagee in accordanoo with the provisions of t.'le note
iM'(~'.:J"ed hereby, full payment of the entire indebtedneas represented theNby, tile mortpge6 ahalir in corn.
puting the 6l1lount of sueh bdobtedneM, eNdit ~ the account of the morti;t\iOf all pa.ymentA made under
the provisiona of (a) of paragraph 2 hereof whIch the mortgaaee has not become obha-ated to pay to the
Federal Houging Commissioner aud any balance nilllaining in th~ :fundi accumulated under the proviaionl'
of (b) of said paragraph 2. If there shall be & default under AllY of the provisions of thil mortgage N-
suIting in .. pub1t~ ssle of the prem~ COVllred hereby, 01' it the mortaagee acquires the property other~
wise after default, the mo~ ahall aPJlly, at the time of the commencement of such proceedinp or at
the tim9 the properly is oth<erwl.l!le acquired, the balance then remaining in the funda accumulated und~r
(b) of paragraph 2 procedinS.&.l5 a credit against the amount of princi?al then. remaining ~npaid under
said note and shall properly adjust any paymenta which shall have been made under (4) of &ald paragraph.
4. That he will pay all taxea, use8mnenta, water rate..", and other governmental or municipal c.ha.rges,
fines, or impositions, for which provision has not been made hereinbefore, and in default theroof the mort-
gagee may pay the surne ; and the.t he wilt promptly deliver the oftkial receipt.a therefor to the mortgaaw.
6. That he will permit, commit, or suffer no w~te, impairment, or deterioration of said l?roperty or
anf part thereof; and in the event of the failure of the mortgago:r to keep the buildings on saId premi&es
and th06e to be Breded on said premiaea, or improvements thereon, in good repair, the mortgagee may
make such repairs as in its discretion it may deem neCe.i8Rry for the proper preaervation thereofr and the
full amount of each and every such payment shall be immediately d:le and payable, and shall he secured
by the lien of this mortgage.
6. That he will pay all and singular the COlltA, charges, and expenses, including re.asona.ble lawyer's
fees, and costs of abatracts of title, incurred or paid at any time by the mortgagee because of the failure
on the part of the mortgagor promptly and fully to perform the agreements and covenanta of said prom-
i.88ory note and th~ mortgage, and said C08ts, charges, and expen&es shall 00 immediately due and pay-
able imd shall be secured by the Hen ot this mortgage.
7. That he will keep the improvements now existing or hereRfter erected on the mortgaged property,
insured as may be required from time to time by the mortgagee against 108s by fire and other hszards,
casualtiesr and contingencies irr such amounts 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 hag
not ~n made hercinb€foTe. All i.nsurance shall be carried i:o companies approved by mortgagse and
the policie8 and renewals thereof shall be held by morlg-a.gee and have attached thereto 1088 payable
clauses in favor of and in fonn acceptable to the mortgagee. In event of los5 he will give immediate
notice DY 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' guch
loss directly to mortgagee inst.ead of to mortgagor and mortgagee jointl)', and the insurance pr0Ceeds, or
any part thereof, may be applied by mortga.gefJ at its option either to the reduction of the indebtednC''ss
hereby secured or to the restoration or repair of t:le propert:y damaged. In event of foreclosure of this
mortgage or other transfer of title to the mortgagoo property in extinguishment of the indebt.edness
secured hereby, all right, title, and intf-rCflt of the mortgagor in and to any insurance policieli then in force
Bhall pasa to the pl.lrchaaer or gran~~
8. That the mortgagee may, at any time pending 8 suit upon this mortgage, apply to the court hav-
ing jurisdiction thereof for the appointment of a rt.'i:el\'er, and such court shall forthwith appoint a
rect~i\'er of the prerniBes covered hereby all and singuiar, including all and singular the incomer profits,
issues, and revenuE'S from whatever frOurce derived, €il.ch and every of which, it being expressly under~
l3tood, is hereby mortgaged as if specifically net forth and described in the granting and haoondum clauses
hereof, and such rC':eiver shall have all the broa d and effective functions and powers in anywise
entrusted by a court to a re\:eiver, and such a.ppointment 8hall be made by such court as an admitted
equity snd a matter of absolute right to said mortgagee, and without reference t.o the adequacy or inad-
equacy of the value of the property mortgaged or to thp. solvency or inso!\'ency of 8aid mortgagor or the
defendants, and that such rents, profits, income, issues, and revenilea shall 00 applied by such receiver
acciwding 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 agre€s to pay to the mortgagee on demand as a rt:MO!l-
able monthly rental for the pl'cmLses an amount at leazt equivelent to one-twelfth (1,/12) of the aggregate
of the hvch'e monthly in,,,wllment.s paYll.ble in the then current year plus the actual p.mount of the annual
tsX(~~1 &.~se3sments, water rates, and insurance premiums for Buch year not covered by the aforesaid
moDtnly payments.
9. The mortgagor further covenant.s that should this mortgage Md tile note seeured hereby not be
eligible for insurance unGer the National He-using Act within ~O DAYS from the date hereof
(written statEment of any offker of the Federal Housing Admmistration or authorized agolt of the
Federal Housing Commiaaioner- dated 6ubs('quent to the 10 OAYS time from the dAte of this
mnrtgag:=, dcclinblg to insure 15?.id note a.nd this mort.gage, bdr;g dc'€mcd conclusive proof of such in-
eJ;glhility), the mOI1.gl1gee or the holder of the note mar, at its option, c]':.dare aU sums secured hereby
immediately due and payable,
10, Thai (a) in the event of !lny brNH:h of thili mortKlige or detault on the part of the mortgagor, or
(b) in th{: t:vcnt thi_it ~).,ny of 8.n.,1d ,surrl\~.; of rr~oney h~:;,it;in r~fHr're-d b:) he not p:t'ornptly and fully paid \vith..
;il\~:~~;:i:~'f,~'f, i~~;~::~,;.H:,E~i~;'~g~~Si:~:Et~ ;~fi:~~:i,r ~:~;~;',Fl~:c:~~ p; u~;,,, ~~f,~~'n;,~l ~i:e~;; \:
i!1t.C:rf~!3t €...rctlH:~ to tJH:.t tlrne, and ali'ln~}:n~:{8 gf,..~'Ure-d h.erebr, 5h.:el1 beco.rrH~ -due .&lH1 IH:i.Y(lL,lc fox.thy.:ith,
or thl:rulfter, at tLe option of S<l.id mm1g?'M''''''f, lV, Ii.:! Ii:,.- and CDt!',pltvtei:; &'1 if all or th(; l'Il1.id Hums o:t IT.oney
were oti.p:<rwlly sUpl,ittted te (;{' p~.J.id uti guth day, i4Hything in ,m.id .wt.;:; {)f in t;li~; mort.gage t.o thE t;ontriM'Y
t'H),~~Yit.h~tandi!ig: and th(~r:2upon or- th~:rfAtft€~t"", at tbe cption of i"aid~ z:no~tg~g-ee~ t~"it.h.out nO~1Ct~ o!' ~i{~n.1a.n(;i~
FUlt. at !a\-v or in (<-{rutty, rnsy bi:t ptoS€~ut.(~'rl &~ if ~n n.l0n(~ys 8f:t..;,u.l'ed tH~reby had :rn~lt\1rE~i pr!or to Its lnat~-
tuU::'.i::'L 'rhe rLort.giiger! ~,'j.ay f(H"t"X~l().~c this rnortiage, h.8 to the 8JnOunt Be decJart.~ due and ps.y!~bh\ c\,nd
~:he g:.~id. prfTni3€'a BnaH bk~ sold to :S8-tit1fy Rn.d 'pay tJ1G Raine b:,~~etL{:r v~-~ith ('03t-li, CXPf':.TlI:tC~l hnd aHo\r/~l,n(t~B.
! n C&.:".H~ of l)~.rt~.si.l fori:(~Jo.:~ur€ of thi8 rnn'~1...gR~e" to;; rt1ort.ga:~ed pt{,;:r.n1at3S ah.aH l~~ sold Bubj~1~t to t.hf; r;t}H-
ijI:inng lien of this mort.gage for the ::'-ttnO:1nt of tht'! rlebt not tlH~n due and unpai.d. In Huch ca.~.e the p.r.o.,
Y~SlUnS of thi.s rH;rij.g~rnph Hl&Y ag<l be iva-j}:..xl of thereaJter from tirne tc.: tinlt~ by' the rn-)Iig'~'qs.:e.
11.. ~rhht. thf {nortt7{&gol' v;"nl lli l,l(1 inrtn,:~iate not"~...::,e by 11}tdl to th~} Inf)rtgtt,g(~-0 :;t H"uy C,Ofl\"ert~ri~~.~:~~
trtJ,.1~id' er~ or {;bg~nbe (l.{ O\VI~f<rship of th6 premlT1fJ-.i;,. .
t} i C r ;~~' L'~!~~; {,'::; d\~; 'l~~ i~;" ~1~J;i?;~.:/n~:~ ~,~':;:] h e;~~o 7~j:~~ ~fl\~I.~~~~~;~~~:~::X1j;c;~;r~;:Y
1'.ha.ll
at. any b;11e
; f f.e.'..'. i;~ ~
.~~,,~~~~~~~~~~~~__=--_~JO'''I....d