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HomeMy WebLinkAbout0124BOOK 25 PRC~1Z~ ~ _ ~~ ST. lUC1E COUNTY. FLA. under (b) of paragraph 2 preceding aha31 not be sutncient to pay and yenta, taxes and asaesament wh8n the same ahal~tiecome due and payable, then the and insurance premiums as the case may be. mortgagor ahaU p+ty to the mortgagee say amount necessary to make up the deftciency, on or before the date when payment of such ground rents, taxes. saseaaments, or insurance premiums shall be due. li at any time the mortgagor shall tender to the mortgagee in accordance with the Provisions of the note the mortgagee shall. in com- aecured hereby. full nt of the attire indebtedness represented thereby. puting the amount o ouch indebtedness. credit to the account of the mortgagor all pa~-menta made under the Pro Hou~ai of Co)mmiasi~one~ir and balance remaimm~og inn the funds acc ted underdthe pray isiona Federal n8 2, If theme shall be a default under say of the provisions of this mortgage, re- of (b) of said paragraph uirea the property other- aulting in a public sale of the premises covered hereby, or ii the mortgagee acq .wise after default, the mortgagee shall apply, at the time of the commencement of such procezdinga or at the time the property is otherwise acquired, the balance then remaining in the fonds acfumulated under (b) of agraph 2 preeedin as a credit against the amount of principal then remaining unpaid under sa~~] note~and ahaU proF~ly a~juat any payments which shall have been made under (a) of acid paragraph. 4. That he will pay all taxes, asaesamenta, water rates, and other governmental or municipal charges, ftnea, or imposit~~aame and thatins will promnptly ddeliver the official oreeeiptalt~erefor to therrortgagee. gages may P~1Y irment, or deterioration of said property, or 5. That he will permit, commit, or suffer no waste, imps' any part theresof ;and in the event of the failure of the mortgagor toikeep the~bupail ~in~eonio tgaSee ma and those to be erected on said premises. or improvements thereon, n good make such repairs as in its discretion it went shall be immediately d erasad pay~aWea and shall be secured fuU amount of each and every such paym by the lien of this mortgage. 6. That he will pay all and, singular the costa, charges, and expenses. including reasonable lawyer's because of the failure lees, and costa of abstracts of title, incurred or paid at any time by the mortgagee on the part of the mortgagor promptly and fully to perform the agreements and covenants of said prom- issory note and this mortgage. and acid costa, charges, and expenses shall be immediately due and pay- able and shall be secured by the lien of thin mortgage. 7. That he will keel the improvements now existing or hereafter erected on the mortgaged property. insured as may be required from time to time by the mortgagee against loss by fi uaied by mortgagees, casualties, and contingencies in such amoun ~ onf such hinaur~an~for payment of which provision has and will pay promptly. when due, any prem not been made hereinbefore. All insurance shall be carried in 8 d have attpached thereto l~s payab e the policies and renewals thereof shall be held by mortgagee clauace in favor of and in form acceptable may make proof~of Ices ifnnot made promptl by mortgagor, notice by mail to mortgagee, and mortgagee ent for such and each insurance company concerned ~a hereby authorized and directed to make paym Iona directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or ~rpart 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 damaa~. 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 pass to the purchaser or grantee. 1 to the court hav- 8. That the mortgagee may, st any time pending a.suit upon thin .mortgage. aPP Y int a ing jurisdiction thereof for the appointment of a receiver, and such court shall forthwith appo receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever souroe derived, each and every of which, it being expressly under- stood, is hereby mortgaged sa if apeciftcally 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 ouch appointment andlwithout reference to the adequacy or inad- equity and a matter of absolute nght to said mortgagee, equacy of the value'of the property mortgaged or to the solvency or insolvency of s~ ~ by Such recei~ er defendants, and that such rents, profits, i~icome, issues, and revenues shall be app according to the lien of this mortgage and the practice of such court. In the eve on demandeaa a reasons part of the mortgagor hereunder, the mortgagor agrees to pay to the mortgagee of the aggregate able monthly rental for the premises an amount at least equivalent thlus the act al(iamount of the annual of the twelve monthly instal menta payable in the then current year p taxes aaseasmenta, water rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 9. The mortgagor further covenants that should this mortgageds a note fromre~ a date hereof eligible for insurance under the National Housing H ~~~ Administration or authorized agent of the (written statement of any officer of the Federal time from the date of this Federal Housing Commissioner dated subsequent to the afgro id mortgage, declining to insure said note and this mortgage, being ~eemed conclusive proof of such in- eligibility), the mortgagee or the holder of the note may. at its option, declare all sums secured hereby immediately doe and payable. 10. That (a) 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 soma of money herein referred to be not promptly anment, eonditiona, out demand or notice, or (a) in the event that each and every the atipaiations, agree and covenant of said note and this mortgage, are not duly. prom fly, and fully performed : then in eiMer or any such event, the said aagggrega~ase~cured hoereby i ahall~becom due. ndaipanyable forthwith, interest ~~ tO ths-t fie' ~ as fully and completely as if all of the said sums of money or thereafter, at the option of said mortgagee. thing in said note or in this mortgage to the contrary were originally stipulated to be paid on such day. any notwithstanding: and thereupon or thereaite~~ thoo~~ secured hereby~had~matur~ed prior to ta~insti- snit at Lw or in egaity, maybe prosecuted tntion. The mortgagee may foreclose this mortgage, as to the amount so declared due and paYowances. the aaia premises shall be cola to aatbfy and pay a same together with costs. and all In case of partial foreclosure of this mo the mortgaged premises shall be~sold u bject to the con- tinuinglien of this mortgage for thn be availed of thereafter ithirot~n timeu bo to ~ by the mortgagee. a pro- visions of this paragraph may agsi 11. That the mortgagor will give immediate notice ~- mail to the mortgagee of any oonveyanoe, transfer, or change of ownership o the premises. _ shall ~ any tlme 12. That no waiver of any covenant herein or o! the obligation seeursd hereby thereafter be held to be a waiver at the terms hereof or at the note secured here>»r.