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Home My WebLink About1426 ~ Stste of F'tnrida C~O~•i1111C11Gi!')' 9I21111Pq ln thr emount 1'CQLIICQd Y)y ~N• tLre affi~ced to the original of the forrguing note and cancelleci pui-~ur~nt to la~c. i And sh~ll di~l~~, promptly ruui full}• perfarrn. ctis~htuoe, execut~, eftti~L, c~mplete and complr• ~+•ith an~9 abi~l~~ by ea~ti ;jnd e~•e:~~ thz s;ipulations, agr•cemencs, cunditir~ns and co~•e.nants of said promiagon• note and of Uiis mortga.ge, then this mortgake and the est~zte hereby created shall cesse and be null and void, And the :~fortg~goi• co~•ensnt~s and ugrees to and ~,~i[h the &Iortg~e~ as follows: 1. He ~sill pa}• the pr~ncipal a7d i~iter~~st an~i tii~ i•ious and stmdry sums uf moaey payable b3• ~~irtue af said Iyron~is::oiy note and Lhis mortg.~r;e p~ornptl~• un thc da-y; tha 311t1C biCO7riC due and he will pmmptl~~ perform xnd com- pl}~ a•itl; earh and e~•en• other co~•en<int <ind agreement in said pmmissory note and mortgage. 2. He will pay the taxes, ~sse,sments, levies. liabilities, obligations and incumbronces of every nature and kind no~ti• on suitl describeci property, or ~.hat hereafter rnay be imposed sutfered, placed, levied or as~essed thereon, or that he~aPter mav be levied or asse~qed upon this mortgage or the indebtedness secured hereby, when due and payable accotd- ir.g to la:v, before they become delinquent, and betore any interest attaches or any pena.lty is incurred; and in so far as any thereo! is oP record the same shall be promptly satisfIed and ciischarged of record and the original official document evidencing such satisfaction and discharge siiall be placed in the hands of sa3d Mortgagee wit.hin ten days next after pay- ment, The covenants and agreements in thia paragraph shall not be appticabie to the tax~ and assessments which are to be paid out of ihe funds depoaited with the Mortgagee under the terms of p~ragraph 4 aP these covenantia and agree- ments. 3. He ~vill keep the improvements naw existing or hereaftEr erected on the mortgaged property insured against loss by fire and other hazards, casualties and conti~~cics in such amounts and tor such periods as may be required by l~iartga~ee. All insiirance shali be carried in companies agproved by Mortgagee and the pollcies and renewaly thereof shall tre held by Mortgagee and have attached thereto lo~s payable clauses in favor o! and in form acceptable to the 1~Iortgagee. In event of loss he ~vill give immediate notice by maiI to Morfgagee, rtnd Mortgagee rnay make proof of loss it noi maci~ pmmpUy hy Mortgagor, and each insurance company concerned is hereby suthorized and directed to ma6ke payment for such loss direct;y to Mortgagee instead o! to Mortgagor and Mortgagee joinUy, and the insurance proceed~, or f?ny part thereof, may be applied 3y Mortgagee at its option either to the reduction of the indebtedness hereby se- cured or to the restoration or repair of the ~roperty damaged. In event of fareclosure af this mortgage or other transfer of t3tle to the mortgaged property in extinguis.hment of the indebtedness secured hereby, att rlght, title and interest of the Mortgagor in and to any insurance policies then in force sttall p~ss to the purchaser or grantee. 4. In order more fully to protect the secur~ty of this mortgage, the Mortg`agor, together with and in rsddition to the monthly payments under the terms ef the note aecured hereby, on the first day o! each month and until said note is fully paid, shall pay to the l~iortgagee an ir_stalment of the taxes and assessments next to become due against the mort- ~;aged premises, and an instalrnent of premiums next to become due on insurance policies required by the ~'~Lortgagee. Such instalments shall be equal respectively to such taxes and asaessments and insurance premiums, all as estimated by the Mortgagee, less all sums already paid th=reon, divlded by the number of months tha; are to elapse before one month prior to the date when such taxes and assessments and insvrance premiums will become due. Said instalment shall be held by the ~Sortga~ee in trust to pay such taxes and ~ssessments and insurance premiums. All pay*ments made under the terms of this ~ara~raph and under Lhe note secured hereby ahall be added together and the aggregate amount fhereoi shall be paid by the biortgagor in a single payment each month to be applied by the Mortgagee in payment o! the items and in the order following: (a) taxes and assessrnents, and insurance premiams; (b) interesL on the note secure@ hereby• and (c) amortization of the principal of said note. Any deficiency in the amount of sttch aggregate monthly payment shall constitute &~efault under this mortgage. Wnen such taxes, a:sevsments and insurance premiums fall due, if the amotutts deposited by the 1Sortaagor tor such purposes are not aufficiPnt to pay satd Laxea, asse.vs~tents and fnsurance premiums, ~ the case may be, then due, the Martgagor will pay to the Mortgagee such deficiency immediately, When ~uch taxes, assessments and insurance premiums fali due, if the amoun ts deposited by the Mortgagor for such purpoaey exceed the amounts due for such t.~xes, assessments and insurance premtums, the exc~ may, in the discretion of the Mortgagee, be applied on gubsequent monthly payments Lo be rnade by the Mortgagor. Yn the event of default under this mostgage anti~ iuiexper.ded funds in the hands o! the :~'Lortgagee depo,sited by thc Mortg$gor to meet the obligations o! taxes, ass~- ments and ir.stirance premiums shall be applied by the Mortgagee upon the indebtedness hereby sec~ired, in the following order: (a} interest on advances made by the Mortgagee; (b) advances made by the Mortgagee; (c) interest on the prin- cipal; and (d) the prtncipal debt hereby secured. When eny such taxes, assessments or insuranee premiwns fall due the Mortgagor will prompUy obtain and deliver to the Mor'tgagee statements wi:.h resp~ct thereto, The Mortgagee may col- lect a"]a+~ ; k~,•ge" equal ta 4~~ on any monthly instalment paid more th&n 15 days after the due date thereon. 5. He ~~zll permit, commit, or suffer no waste, impaitment or deterioration of said property or ftny part thereof. In the event of the failure of the Mortgagor to keep the huildings on said premisea and those to be erected on said prem- ises, or improvements thereon, in gocx9 repair, the :Kortgagee may make such repairs as in his discreti~n he may deem nec~ssry for the proper preservation thereof, 6. He wzll pay all and singular the costs, charges and expenses, including reasonable attorney's fees, cost of ab- stracts of utle and titIe searchcs incurred or paid at any time by ttte I~Yortgagee because af the fa:lure on the p2rt of the :~iortgagar promptly and fully to perform the agreemenLs and covenants of said note and this mortgage, and said costs, charges and expenses shall be immediately due and payable and shall be securec~ by the Iien of this mortgage, and stich e.arpendih~res shall drativ interest at t3~e rate of eIght per ces~tum per ant?um. 7. That (a) in the event of ~ny breach of tnis mortgage or default on the part of the l~iortgagor, or (b) in tt~e e~~ent any of s<!d sums of money herein referred to bP not promptly and fully paid without demand ar notice, or (r) in the e~•ent the stipulations, agreements, conditions and covenants of said note and this mortgage are not duly, promptly and full}• gerformed, then in ei*her or any such e~'ent, the said aggregate sum mzntion?d in sa;d note then remaining ur;- paid, wzth interest accrued to that time, and all moneVS secured hereby, shall become due and payable forthwith, or there- Rfter, at the option oP said Mortgag~e, tis fully and completely as if ali of the said sums of money ~•ere orIginat2y stipu- lateci ta be naid on =i~ch day, anyt~'~in~ in said note or in this mortgage to the contrary not~vithstanding; and there~~pon or tl~ereafter, at t~':e option of sai~i '~tortgagee, ~1-ithout notir.e or demanci, suit at law or in equity, may be prosecuted as if al! rriene}•s ;ecured hereb~ h3d matured prior to its institution. S. The \Sortgagee may, at an,y time a~hile a suit is pending to fnreclose or to reform t}:is mortgage, or to enforce anr clai~:~. a;•:~ir;~ he:•eiinder, applq to the court ltaving ju*isdiction thereof for the appointment of a receiver, and such coiu•t shali farth«~ith appoint 3 receiver of the premises and all other property covered herepy, inch~ding all and singular the inceme, profiL,, rei:ts, issues and re~~enues from whatever source derived, and such receiver sha31 have all tiie broad - and effective funetion; and po~~~ers in ani~vise entn:sted by a court to a receiver, and sueh appointment shall be made by sach c^urt a; an acirnitted equity and a matter of absolute right to said Mortgagee, and ~lthout referenee to the a~e- quacy or i~adequacy of the vatue oP ttie property mortgaged or to the solvency or insolvency of said Mortgxgor or the defendants, and such income, profits, rents, issues and revenues shall be applied by such receirer according to the lien of this mortgage and the practice of such court. ~ ~ f ~ ~ ~'U~~ ~ ~ ~ ; ~ ~