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Home My WebLink About2526 n. R.' ~:/- , 60 i/.\.t 423 rr . ,'r ,. L~'y.;l^ (State of Florida doclunmtar)' sllmps In the ~du.hl r~'t1\~ed bY' )Awa.r.a.Cib(ed to the origln..'ll of the forl'golng- note and cancelled pursuant to law.) And wall duly, promptly and tully peltom1, (Escharge, execute, effpct, complete and comply with ll.!1,l ablJe by I'Rch and every the stlpulatlons. agreements, condition.! and covenant~ of ll.'tid prolI1l..sory note anel of thla T'lOrt~age, then th~ mortgage ar.d the estate he~by created shall cea& and be null and void. And the Mortgagor cOVena."1ts and a.grees to and with the M01'tgagl'<' II!! follow!':: 1. He w1ll pay the principal IInel Interest IInd Ule va dou!! and 5undry sums or money payable by virtue of 5-!\.ld proml!<sory not<> and this mort~p.ge p:i.)mptly on the days th.:> S!l.Ille becom.:> elue and he will promptly perform and com- ply with each and every other .:ovenant and 8,.\;"r~ement in sald proml."-'lOI)' note and mortgage. 2. He wi:1 pay the taxes, l\.M('S!lJ11ents, levies, lIablll tles, obllgaUons and Incumbrances of every nature anll kLnd now on &'Jd de-scribed property, or that h"reafter may be Imposed, suffered, placed, levied Or l\s'Iessed thereon, ur that hereilftl'r may be leviI'd or assl>saed upon this mortgage or the IndebtNInl'ss spcure(\ hereby, when dUe and payable accord- Lng to law, before they become dellnquent, and before any In terest attachl's or any penalty Is Incurred; ll.!1el ill s,' far 8..'1 any thereof Is of record the game shall be promptly satisfied and discharged of record and the origina.! oUichl document evidencing such satWactlon and dlach!\.rge shall be placed In the hands of 68.1d Mortgagee ....'ithin ten days np_"'<t after pay- ment. The cO\'enante and agr-eement~ In this paragraph shall not be applicable to the taxes and R&Se.,sments which are to be pald out of the fundg depMlted with the Mortgagee under the tenns of paragraph 4 of the.~ covenanLq and agree- mente, 8. He will keep the Improvements now exl.!ltlng or hereafter erected on the mortgaged property Insured against lOBS by tire and other hazards, cMualtl~ and contingencies In such amounts and for such periods a..'I may be required by ~iortgagee, All Lnsurance shall be carried In companies approved by Mortgagee and the pollciCll and renewalg thereof shall be held by Mortgagee and ha\'e 3ttAched thereto lollS payable clauses In favor of and In form acceptable to the Mortgagee, In event of 10!l!l he wlll give immediate notice by mall to Mortgagee, IU1d Mortgagee may make proof of loss If not made promptly by Mortgagor, and each Insurance company concerned ls hereby authorized and directed to make paymellt for such 1088 directly to Mortgagee lnstearl of to Mortgagor_and Mortgagee joLntly, and the Insurl\I1ce proceedq, or any part thereof, may be applied by ~{ortgagee at 118 option either to the reduction of the Indebtedness hereby se- cured or to the re5toratlon or repair of the property damaged. In event or foreclosure of this mortgage or other transfer of Utle to the mortgaged property In extLngulshment of the Indebtedneas secured hereby, all right, title and Interest of the Mortgagor In and to lU1y Insurance policies then Ln force shall pass to the purchaser or grantee. 4. In order more fully to protect the security of this mortgage, the Mortgagor, together with and In addition to the monthly paympnts under the terms of the note secured hereby, on the tlrst day of each month and until 8ald note Is fully paid, shall pay to the ~{ortgagee an Instalment of the taxes and assessments next to become due against the mort- gagc-d prt'mlses, and nn Instalment of premltuns next to become due, on insurance pollcles required by the :\iortgagee. Such in.8taJmpnts ghall be equal respectively to such taxes and assesaml'nts and Insurance premiums, all ll.'I e.,timated by the ~tortgag-ee, les" all sums already paid thereon, divided by the number of months that are to elapse before one month prior to the date when such taxes and assessments and Insu ranee premiuma will become dup, Said instalmpnls shall be held by thp Mortgagee In tmst to pay such tax~s and assessmenLq and insurance premiums All paymenLs made un(!er the t...rollS or Ll-jls paragraph and under thp note secured hereby sh:\ll be added tog-ethpr anel the aggr(>g-ate amount thereof shall be paid by the Mortgagor In a sLngle paynwnt each month to be applied by the Mortg-ag!'e in pa:.-n1pnt or the it...ms an,! In the or<!<'r fnllc>wing: (a) taxes and a..',ses.-ments, and Insurance premiums; (b) interest on the note S>:'cured hpreby; and Ie) amortization of the principitl of salel notp. Any deficll'llcy in the amount of such aggregate monthly payment shall c,lIb.llute a (h>fault uneler this mortgage. \\'hen auch t=es, a ,s..."aml'nts ancl insurance' prl'mlums fall due, If L'1e amounLq dp;,o..ited by the Mortgagor for such purpos(>s are not suftlclent to pay Bald taxes. asse.'!Ul1ents and Insumnee premiums, as the Cil.o;.> may be, then due, the Mortgagor will pay to the M':>rtgagce such dericlpney imrnediately, \\'hpn such ta_xes, a'sessments and insurance premilun!! (all dUe, If the amoun ts depusited by th... ~tortgag-or for such purpose.' excped the amolmts due fOr such taxes, assessments and Insurance preml ums, the eXcc'ss may, In the discretlon of the Mortgagee, be appl:...d on aubspquent monthly payments to be made by the ~tortgagor. In the event of default \mder this mortgage aT'., un...xpC'nd(>J (unds In the hands of the ~fortgagee deposl Ie'! b,' the Mortgagor to mept the obllgatlons of taxes, assess. rr"'nt, .'l.nll lnsllr:mce pl'('miums shall be applied by the Mortgagee upon the Indebtedne,s5 hereby !<e("ured, In the following order: (a) Inter(>st on advances m'\dp by the MortgagC'e; (h) a,I\"anrea made by the :\tortg;;g('e; (c I Interest on the prin- clpa]' and (d) the prinrlpal (Ipbt h(>reby securM, \\'hen any su("h taxes, ass...g~m('nts or Ins'Ir:mcC' pr...mlurna fall due the }'tortg.'\g"or will promptly obtain and dpliver to Ihp :\!ortgag('(' !'tat.'nwnls with rC'spect UIC'reto. Thf' :\tortgagec may col- ket il "lilte charge" equill to 4r~ on a."1Y monthly instalment pa!d more than 15 daya after the due date thereon. 5 H.> will permit. commit. or ~llffer no wp~'p. ImpillnnC'nt or d.>IC'rior.'\tlon of s'lil! propcr-ty or any p.'\rt tjwrPOf. In th.. ('vent of th,' fadllr.> of the ~tortgagor to k., :,' the buil,lings on "lid prpmise, and thos.' to bp erl'ct...ct on sal'l p("\>m- l~e~, or irnprov...mrnls thereon, In good rep:l!r, thl: "iort;::'lgee may make such repaira IVl m his discretion h.' may dt'em nt'(""..'slry' [or th(> proper pre~ervation Uwreof, 6. He will pay all anel singular the C'osLq, C'harg('a an(! .'xp...nsC's. inclucllng- reasonablC' attorney's (p.,~s, (",\st or Jib- str:lrb nf ittl(' llIld title seaf'('hC'i! incurred or paid at any tlnto' by th(> :\tortg-age~ hecau,e o( the (aihlrp on th... part of ell' }.!,.rtL;agor promptly and fully to ppnom1 the agrC€ment:' an,! ("ovl'llanL~ or said notp ann this mortgage. 'l.11l! saj,l ("("t.~, ("'le!:'>,;", ann pxpcn.sC'a shall be ImnH"di'ltely due anel payablC' a nd shall be sN'ured by the lien of thi~ mortgage, /lI1'! ,<<,Icn l'Xi'C:lIlJtrJrt'3 ~~all dr.~w IntNest at Ule rate of eight r.:-r (l'n tum per annum. 7. Th.'\t (a) in the event o( any hrC'ach of this mortgag.> or default on the part or the Mortgagor, or (bl in the ('v(',,1 a:1\' of ,.'\hf sumi! of money her<!ln refC'rr",l to b... not promptly a." fully paid without d('mand or notice, or Ie) in th,> "':""1 th" stipuL,tlons. agreements, conditions IlIld covenant.o or sail. note an(1 thia mortg.'\ge are not duly, promptly ancl full:, r"'rforTneel, thpn in l'lther or any such evpnt, the Fald aggregate sum mentlon('d In aald no~ tht'n r.>mRining un- p,'ll!, will, int('rrsl aCCnlE'<! to that time, ant! all moneys secured hereby, shall become due IlIld payable forthwith, or thcre- aft.>! at Ih~ (.pti,m of sHiel :\tortg1lgee. a.q fully and completely 1l.8 if nil of the Faiel sums of lll(JIley were originally stiru- hl..d t , ". ,,:.:d on ,uch day, anything In saiel note or in this mortgage to the contrary notwith.stanciing; Nlcl therp1lj'on or Ih..', ,','l!t,'r, at th~ o['thn of "aiel :\tortgag-Cf', with'lut notice or demand. suit at law or in equity, may be pr(yo;.::cutl'rl as i~ ,ti: :n .n,:" s,.,'1I,-...\ flerpby h,l<l m<ltur(>d prior to Its Lnstltution. !': Th.' :--lortgagee mRY. at rLIlY time whlle a /lU1t is P ending to forerloge or to reform Ull" mortgage. or to enfor,'e an\' chi:,,; ?' '"I'll, It"'r...unrler, nppl'.. to the court having jurLqdlction thpreor (or the appollltmt'nt of a rect'iver. an,l "1Ich ccurt shiill 1'..t1,',"lth appoint a receiver of the premises and all other pro?"rt)' .covereel h...rpby, induc!ing all and sing"l.l:c.r th" Im'o:ne, .,:'(,flL", renta. Issues and revenues from whatever source derived and 8llch l'l'ceiver shall h.'\\'e all the hro.'\d an'l eff,>.ti.:.~ f,.,Hiton" anrl powers In anywise entmsted by a court to a mciver, E,m! /;uch appointmpnt shall bp n1.'\de hy such c,.lId as an ,I,l:nltted equity and a matter of absolute right to said Mortgagee, and without r('(C'l'('nc(' to the ade- quacy or In:vleqUi\cy of the value of the property mortgaged or to the solvency or Insolvency of F.ald :\lortgllgor or Ule de (('nd.'\,n L', flnrl "l.lch incnme, profl18, ren~, issues and reven ues sh.all be aI. plied by such r"eel \'er according to th" lien of thL~ mortgage and the pre,ctlce of such court.