HomeMy WebLinkAbout23078U'~JII 28 P~cf176
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- ST. IUCIE_CQUNT_Y. Fly.
3. Ii the total of the pa ants made by the Mor~gt~pr under (a) of paragraph 2 precedic~ shall exceed the
amount of payments actually made by the Mortgs~s- for groand rents, tares and aaeeeamenta, and insurance
premiums, as the case may be, such eaoeas shall be credited on subsegueot payments to be made by the Mort-
gagor for such items or, at~Mortgagee's option, shall be refunded to Mortgagor. It, however, such monthly
_ ppa~ymeota shall not b`e sufficient to pay such items when the same shall become due and payable, then the
Mortgag+or•shall p~-y to the Mortgagee any amount neoeeaary to make up the deficiency. Such payment shall
be made wnthin thirty (30) dava after written notice from the Mortgagee stating the amount of tie deficiency,
which notice may be liven by mail. Ii at time the Mortgagor shall tender to the Mortgagee in accord-
ance with the pprovisions of ,the note seaure~l hereby, full payment of the entire indebtedness represented
thereby, the 11so~rt~agee shall, in computing tl~e a~ncunt of such indebtedness, credit to the account of the
Mortgagor any r t balance remaining under the trovisions of (a) of said paragraph 2. It there shall be a
default under any of the provisions of this mortgage resulting in a public sale of the premises covered hereby
or if the Mortgagee acquires the property otherwise after default, the Mortgagee ahallly, at the time o~
the commencement of such proceedings or at the time the property is otherwise ac ,the amount then
remaining to credit of Mortgagor under (s) of paragraph Z preceding sa s credit on the interest accrued and
unpaid and the balance to tfie principal then remaining unpaid on said note.
~~ 4. He will ply aD tares, aeseaeaoenb, waste rates, sad othee ~overnmentai or munidpal ohaeges, fines. or
impositions, for which provision has not bees made hereiabefore, and in default thereof tbs Mortgages my pay the .
~ same; sad that he will promptly deliver the oi$eial reoedpta therefor to the Martg~ee.
b. He will permit, commit, m anger no waste, impairment or detedorstion of said property or any part thereof
esoept reasonable wear and tear and in the event of the failure of the Mortgagor to keep the buildings on aai~
premises sad those to bs eeeote~ an said premises, ar improvements thereon, in good repair the Mortgagee may
make ouch repairsas in its discretion it may deems aeoeeeary for the~~oper preservation thereo~, and the full amount
of each and every snob payment shall be due and pstyable thltty (SV) day! after demand, and shall be secured by
the lien of this aooztgags.
6. He wlll pay all and singular the costs, and eo~penses, inel»ain6 reasonable Lwyer'e fees, sad costa
of abstract of tltle, inciured or paid st say time byMortgagee because of the failure on the part of the Mortgagor
promptly and ~r to perform the agreements and ooveoanta of said promisoory note and this mortgage, and said
costs, charges, and earpeoses shall be immediatelq due and payable and shall be sea~n~ed by the lien of this mortgage.
7. He will oontinuonsif maintain hasard insurance, of such type or types and amounts as Mortgagee may
from time to time require, on the improvements now or hereafter on said pramisea and escept when payment
for all such premiums has theretofore been made under ~(a of paragrs~h Z hereof ~e will pay Prom when
rtgagee and
due any premiums therefor. All insurance shall be carried in companies spprove~ by Mo p e h-
cies and renewals thereof shall be held by Mortgagee and have attached thereto loss payable cLuses in favor of
and in form aocsptsble to the Mo In event of loss he will give immediate ~twe by mail to Mortgagee,
and Mortgagee may make proof or~ it not made promptly by Mortgagors and each insurance company
concerned is hereby suthonsed and directed to make payment for such loss du~ect~y to Mor~gage~ instead of
to Mortgagor and Mortgagee jointly, sad the insurance proceeds, or arU part thereat may be ap-,plied by Mortr
gages at its option either to the reduction of the indebtedness hereby secured or to t~e restoration or repair of
the property damaged. In event of foreclosrre of this mo or other transfer of title to the mortgaged
pmopeTty m ezt~ingwshment of the indebtedness seamed hereby, aIl right, title, and interest of the Mortgagor
in and to aq~ insurance policies thsa is force shall pass to the purchaser or grantee.
8. He will not a=scots or file of record any inatrmneat which imposes a restriction upon the sale or occu-
pancy of the property des~xibed herein on the basis of race, Dolor, or creed.
9. The Mortgagee may, st an time pending s suit upon this morrttggaaggee apply to the court having jurisdic-
tion thereof for the appointment of a receiver, and such court shall forthwit~ s~point s receiver of the premises
.covered hereby all and sing~ilar, including all and singular the income, profits, is~suea, and revenues from whst-
eversource derived, each and every of which it beinmgg eupressly understood, is hereby mortgaged as if specifically
set forth and described in the granting an~ habsadum clauses hereof. Such appoinitmeat 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 inadequacy of the value of the property mortgaged or to the solvency or insolvency of said
Mort~g~ r or the defendants. Such rents profits, income, issues, and revenues shall be applied by such receiver
accordmgo to the lien of this mortgage an~ 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 Mo oa demand as a reasonable monthly
rental for the premises an amount at least equivalent to one-twelfth ,) of the a~r~ate of the twelve monthly
installments payable in the then current year plus the actual amount of the annual tares, aaseeamenta, water
rates, and insurance premiums for such year not oovetred by the aforesaid monthly payments.
10. In the event of any breach of this mortgage or default on the part of the Mortgagor, or in the event
that any of said sums of money herein referred to be not promptly and fully paid according to the tenor hereof
or in the event that each and every the atiprelations, agreements conditions, sad oovenante of said note an~
this mo ,are not duly, promptly, !r-d fully performed or i~ the Mortgagor be adjudicated bankrupt or
made dei- dart in a bankruptcy or reoeiverahip proceedingsR then in either or any such event, the said aggre-
gate sum mentioned in said note then r+~munwg unpaid, ~tnth interest accrued to that time, sad all money
secured hereby shall become due and payable forthwitly or th~eredter, at the option of said Mortgagee, as
fully and completely as if all the said sums of money were originsjly stipulated to be paid oa such day, any-
thing in said~~noatgeeeor m this mortgage to the contrary notwithstanding; sad therenpoa or thereafter, at the option
of sod Mo , without nonce or den-and, amt at law or in equity, ma be prosecuted as if all moneys
secured herb-ybad mstm~ed prior to ib institution. The Mortgage may foreclose this mortgage, as to the
amount so declared due and payable, and the surf premnises sbau~be sO1d to satisfy and pay the same together
with costs eaipenses, sad allowaacts. In case of partial foreclos~n~e of this ~rtgsge, the tgag~ed
shall be sod subject to the ooatinniug }fen of this mortgage for the amount of the debt not the ud a an unpaid.
Ia such case the provisions of this paragraph may agau- bs availed of thereafter from time to time by the
Mortgagee.
11. No waives at say covenant hetbia a of the obU~gataan secured hereby shall at any time thereafter be
_ held to be aaraiver of the terms he~reoi ar of tbs note secutsd b~prsby
lZ. The lies of this instr+imeat shall remain in fall force and eQeat during say postponement or e:teasion
o[ the time of payment of the indebtedness ar aqy part thereof secured hereby.
18. This ;~ag~.es gives to secure the pnr~ t~deed •.becei~oe~~t, of the laia~ds h~stein described
.red i. eiecuted~ ad deuered oa-tempoR.a.ou~
14. Ii the Mortgagor default in sap of the oovemsats or agreement contained herein, or iii said note, then
the Mortgages may perform the same, sad ttR eacpenditmesotiing ~inabis attoraep's tees) wadi by the
M m so shall draw interest at the rate pen ' far m tLS prpaapal indebtedness, i~ad shall be
~a~ ) - after d~emaad, end. taptbae wlta- ~at~e!4et and costa gootued tbecson. sha11 be secured
_ lb. U the request ad the the Mortgagor ~baD e~soate and deliver a supplemental note or
notes fce the am4 or soma adranoed by Macttages tae tLs alkrattioo, modeeaisation. irape+ovemertt, main-
tmtanee, or repair opt said peeor-ises, tar t~ ar ~v ~ same sad for asp other purpae author-
i:ed ibesuader. Said note or notes stall be ssemsd -cs- aj eldtt- sad as tdb as if the advaaoe
e~tidenoed thereto woes ioainded iu the sob firK , , .~ h ~ , ~: °s°tal note ae nobs stall bear