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HomeMy WebLinkAbout0481_. p ~ ~J '' S?.~LUCIE COUNIY. Fl~• and insurance preminms, v the ~~ berweh e~coer ahaU be credited by the mortgagee ou subsequent paymes~ ba be made ~ the mo:tta~or. ,however. the mon~+ payments made by tla mortgagor order (b) o~ petiragrap6 ~ pr+eoadtnt shall bs willseient to peq- d yenta, to#es and aaaaamente and inauraaoe_ _preo~ia~-!~ as tbs cw m+~ when the gams aball beoane dus and payable then the a1,a11 pyr to the ~- amow-t necessary to make np the dellcieacy, on or before the daa~~en p~U-meat a~ wch pn~r~tb: t11~+ea, aMea~nti. gar' insurance premiums shall be due. It at any time the aaprtsagoa• shall taideac ~s the aaoartgg~es is aooor+danes with the pa oviaiona of the note secured hereby. ll~U z~rment a! the entire indebtedness represented thereby. the mort~ee shall, in com- puting the amount o!awh indebtednea~'erad<t t4 the a4eo~tat of the mort~a~or all enta made under the provisions of s) of paragraph 8 hereo! which the a~a has not become obl~gated to pay to the Federal Housing and awr balama rnmaintn~ in innda accumulated under the provisions of (b) of said~tatagraph 8. Ii there shaD be ! dedanlt ua atiybf the Provisions of this mortgage, rei aulting is a p bblie sale of the premises ~v~st~ed het~eby os i~ t¢e mor~a~ee acquires the property other- wise after default, the ~~aa~~ss shall ap ~ E6e ~-e of the oommedceflnent of such procxedinga Qr at the time the property ~s~~b~rrwise aoq then remaisin~ in the funds accumulated under (b) of paragrare~as a credit against the amount of priacapal then remaining unpaid under said note andd nst any payments which ehaU have been made under (a) of said paragraph. 4. That he wiU pay all tares„ araessrnenta. water rates. and other governmental or municipal charges, lines, or impositions. toz whid~ praviaion has not been made hereinbefore, and in default thereof the mott^ gages may ps~y the name; and that he will promptly deliver the oiflcial receipts therefor to' the mortgagee. b. That he will permit, eo~mnit„ or snf[er no waste, impairment, or. deterioration of said property or any part thereof; and in the event of the failure of the mortgagor to keep the buildings on said premises and those to be erected oa said premises, or impmvementa thereon, in good repair, the mortgagee may make such repairs as is its discretion it mq deem necessary for the proper preservation thereof, and the full amount of each and every at~eh psymeat shall be immediately due and payable, and shall be secured by the lien of thin mortgages ..~ 6. That he will pay all and aiagnisr the'costs, charges, and expenses, including re8aonable lawyer's fees, sad costa of abstracts 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 covenants of said prom- issory note and this mortgage, and said costa, charges, and expenses shall be immediately due and pay- able sad shall be secured by the lien of thia~mortgage. 7. That he will keel the improvements now existing or hereafter erected on the mortgaged property, iasured as may be requu~ed frown time to time by the mortgagee against loss by fire and other hazards, casualties, and contingencies in ouch 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 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 loan payable clauses in favor of and in form acceptable to the mortgagee. In event of loss he will give immediate notice by mail to mortgagee, and mortgagee may make proof of loss if not made promptly by mortgagor, and each insurance oormpany concerned is hereby authorized and directed to make payment for ouch lose directly to mortgagee instead of to mortgagor and mortgagee jointly, and the insurance proceeds, or ani- thereof, may be applied by mortgagee at its option either to the reduction of the indebtedness haecnred or to the restoration or repair of the property damaged. In event of foreclosure of thin 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 peas to the purchaser or grantee. 8. That the mortgagee ma`y, at any time pending a suit upon this mortgage; apply to the court hav- ing jurisdiction thereof for the appointment of a receiver, and ouch court shall forthwith appoint a receiver of the premises covered hereby all and singular, including all and singular the income, profits, issues, and revenues from whatever source derived, each and ever}- of which, it being expressly under- stood, is hereby mortgaged ss if specifically set forth and described ~n 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 Lo 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 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 hereundert 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 (3i:) of the aggregate of the twelve monthly installments payable in the then current year plus the actual amount of the annual taxes aaaeeamenta, water rates, sad insurance premiums for such year not covered by the aforesaid monthly payments. 9. The mortgagor further covenants that should this mort and the note secured hereby not be eligible for insurance under the National Housing Act within days from the date hereof (written statement of any o8icer of the Federal Housing Administration or authorized agent of the Federal Housing Commias~oaer dated subsequent to the said time from the date of this mortgage, declining to insure said note and this mortgage, being deemed conclusive proof of such in- eligibility), the mortgagee or the holder of the note. may, at its option, declare all auma secured hereby immediately due and payable. 10. That (a) in tt,C event of any breach of this mortgage or default on the part of the mortgagor, or (6) in the event that any of said auma of money herein referred to be not promptly and fully paid with- out demand or notice, or (e) in the event that each and every the stipulations, agreements, conditions, and covenants of said note and this 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, sa fully and completely as if all of the said auma of money were orginally 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, suit at ,lair! or in equity, may be praaecuted as if all moneys secured hereby had matured prior to its insti- tution. The mortgagee may foreclose this mortgage, as to the amount so declared due and payable, and the said premises shall be sold to satisfy sad pay the name together with coats, expenses, and allowances. In cane of partial foreclosure of this mortgage, the mortgaged premises shall be sold subject to the con- tinuing lien 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 mortgagor will give immediate notice by mail to the mortgagee of any conveyance, transfer, or change of ownership o! the promisee. 12. That no waiver of any oo~veaant hereia or of the obligation secured hereby shall at any time thereafter be held to be a waiver of the terms hereof or of the note secured hereby.