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Home My WebLink About0690a' ~0~~ 25 ~b'90 ~~ ST, IUCIE COUNTY. flA. - 8. Until defauk i4 the perforaratsa at tbs ooeruoanb acrd agteaaeats of fhb mortgage, the mortga8ors :ball be eatttbd ro collect the renb, issues and peoAts boom the preaiiaa b~b~«e . b~ is case of a dehult In any of the terms of fhb mortgage, and the of a b1U eo farecbse ibis a a~- other nwttgage ene+unbering the within deeatbed pcopaRy, the Association shall immedtat and wkhotst stottoe be entpiotlweedrto the appointment of a Receiver of the mortgaged °~°P°~Y, and of tbe real:, isnses and thereat. wish the the sale thereof under such feecbsuro. and until oonftrm~'ti°" °f~such in possessioa of the said property until the time of sale by the Court. 9. If a ooavayaoos ~bl bfa made by the mot%agas of the premises herein described. « any part tberaof, without the written consent of the AssocLtioa; ate without assumpatioen is reguLr-farm at law by the gnu-tee of tFie obligations to the Assactatia- created byy said promissory note and this moctsbaa immedktely and concurrent y with asti~ch co~av become due land and without notice. all soma of money secured hereby payable and is dehuh. Ths Assodatbn may deal wkh suooeasors ~ interest with reference to dib mortgage and the debt hereby secured in the same manner ss with the morrtgages, and may f«bear to sue « may ertend time f« payment of the debt, secured hereby, « otl~ervvise act witho+rt disd~arging « io any way affecting the liability of the metgagaa hereunder « upon the debt hereby secured. The Association may aalbsoo deal with the Mortgagor and/or with suooes>om ir- interest with reference to this mortgage and the debt herebyy ~s~ecimd by f«bea~ing to sue. extending the time far payment of the debt, providing f« different monthly payments and/or a diRareat interest rte, and by other impress modifkalioos of the contract, without losing any priority the AssocLtion ha: aver other modgagees « Iter,ors err bowers of any fiator tnteresb in the pmpedy sec+ued hereby. 10. That in the event the premises hereby martgag«i. « any part thereof, shall be condemned and taken for lie use under the power of eminent domain, the Association shall have the right«to~ ~ ~t the amounKUnpaid on this mortgage and damages to said premises shall be paid to the Assoc3atioa, its srrcces.~ors gns, up - mav bs applied upon the payment « payments last payable tlrereoa. 11. It is spedEically agreed that time it the essence of this contract and that no wsfver of any obltgattor hereunder or of the obligation :eecued hereby shall at any time tharsfter be held to be a wahror of the terms « of the fiutrument secured hereby. 18. If foreclosure proceeding: of any second gage « second trust deed « any junbr lien of any kind should be insti- tuted, the Association may at its optioq immediatelYn~ a t~reaRer declare this mortgage and the indebtedness sec~ved hereby due and payable. 13. To the rodent of the indebtedness of the Mo~gag to the- Association desrn'bed herein « secured hereby, the Aso- ciation is hereby subrograted tb the ]kn « liens and to the ~ts of the owners and holders thereof of each and every mortgage. Ner « other encumbr:noe oa the Lnd described herein which is paid ard(or) satisfied, in whob « in part, out of the prooee~s of the loan described herein « see+rred hereby. arrd the respective lido of said mortgagee„ liens or other enctunbrancea, s6a11~ to and be held by the Association herein a: far the tndebtedrmss to the Assodation herein described « hereby secured. to the same extent that tt vnould have bees pn~~ sad would have been passed to and been held by the Association had it been and transferred, set aver sad delivered lento the Association by separate deed of assigamert, notwithstand- ing the fact~~tbemay be satisfied and cancelled of record, it being the iatentton of the parties hereto that the same wtll be satisfied and carwelled of record by the holders thereof at err about the time of the recording of fhb mortgage. 1~. To pay all sad singuLr the oostf, charges, and expenses iaduding lawyers fees, reasonably incurred « paid at any limo by the Association, because of the failure of the Mortgagors to pesfeur, o~plp with and abide by each and every stipula- tions, agreements, eondittoas and oovenanb of saw promissory note and this deed, or either, and every such payment shall bear irtenst fran cLte at the rate stated in the note securod hereby. 15. That be wIII pit, commit, or suffer no waste. imt, « deterioration of said propdty « any part thereo[; and in the event of the of IIure of the Mortgagors to keep the buildings on said pranises and those to be erected on said premises. « improvements thereon in good repair, the Association may make and pay {or such repaus as in its discs~etion it may dcem f« the proper. preaervatioa thereof, sad the fuII amount of such payments shall be :ac+rred by the ilea of thL mortgage at the option a~ the Assodatton be immediately' due and payable, or payable in snch monthly hu;tallmeats a: the Associa- tion may ddermine, and every such payment :hall bear interest from date at the rate stated to the note secrued hereby. 18. That if the AsaocLtion and the Mortgagors agree, the Mat v+r91 carry a policy « policies of insurance upon their )fives is an amount equal from time to time to the amount of indebt~ hereby secrued. making said Assodatbn benefi- ciary thereunder, and that the said Association may pay the premiums f« such insurance (in the event the Mortgagors do not). and add each such paymdlt to de unpaid balance of the loan. as ~ the first nay of the they crureat month, and is shall become additional indebtedness secured by thhibs mortgage payable upon d~• 17. That in the event that this mortgage be given Lo sec+ae a eorrsbuctioa loan, faffure on the pad of the Mortgagors or their coatnctes to a~onplde said building 6r aceordaroe with Constnretion Loan Agreearer-t, of even date herewith, or to build said oon:enrctior in aeoordarroe with pLns and spera~iCations filed with tbe Assodation, shall constitute a breach of this mortgage, and, at the option of the Assodation, imarediatdy mature the entire amwmt of principal and interest hereby segued and the Asso» ctatiaa may immediately institute prooeeding~ to forecbse this rno-tgage. 18. That t}.e abstnd « abstracts of titb covering the modga property :ball at all times, daring the life of this mort- gage, remain to the possesaiorr et the Assodatioa sad irr the event the foreclosure of this mortgage « other tsaasfer of title to the mortgaged property in extinguishment of the indebtedness secured hereby, all right, title, and interest of the Mortgagor in and to nay such abstracts of tide sbaII pass to the purchases or• grantee. 19. The Aaaodatioa sbaII have the right, in fib discretion, to require that the MatgaBors pay Into the Assodatioa in addi- tion to the monthly iostallmenb aE principal and intered to be paid by the Modgagors under the note secured by this mortgage. an amount equal to one-twrolfth of the annual ia:hnmmb of any fazes on the mortgaged premises levied « assessed by any goverapceatal antb~ocity. and one-twelfth of the annual premiums for Fire and Extended Coverage insurance on the mortgaged premises as hereiabekre required by the Association, and the Mortgages failure to make s<reh payments shall constitute a default order this mortgage. IN WTPNBSS WHEREOF, the said Mortgages hereunto set their hands and seal the day ar-d year first above written. -... j • , . (sf.AL) -__(sFAL) At.i AIlOtR HV/MT - /G ------------------(SEAL) is uNT