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Home My WebLink About1655 i f I oi tRe MortYa~ee become immMlately due end payable, withaut nadce, and proceedln~s msy be instituted by the Mort- gagee for tAe reao~very thereoi by foreclosure oi thla Mort~a~e, or in an,y other mwnner permilied Sy law as the Mort- ~+~See xn~~Y uect. anythin~ la the nata o. in this Mort~e oonWned to the contrary WereLo notaitbstandin~. Upoa~ fore- closure af this Mort~e. tbs Martga~ee shall De Wovved v a part of tbe lndebtednes seettrrd heieDy, and the Mort- Qagor agx+~ea ta pry. all c+asts end exptn~es incurred in coaaection Warewith, includin~ re*soaable atWraey'r fee~, cost o! title and Lax searrh and the extensioa to date of an abstnct ot title or titlr policy; and ia c~se wcb foreclosure proceed- ings are setUed before the eoasummatlori 4hereol or the entry of iudgmH?t, any such co~ts and expenses a~d other char~es sn lncurred. including a rea~onable ~ttorney's iee. rhall nevertheles~ be psid. Tt?e Mort~a~ee or u~y partY 1~? in- terest, belr?~ the hi~hest biddc~r, may be a pu.rc.haser at eny foreclasure sale. Any electiau by the Mort~a~af as liarela pro- vided for may be exercLxd fmmedlately upon default~ or at any tlme thereaiter, and nothibg sMll be construed to be a waiver of such rlght unlesa evidenced by an lnstrument in writin~ to that effect duly executed by t~e Mortgagee. The Mortga~or waivea all right of hdmmestead ~nd exemptloa iCranted by the Constitution and I.aws of F7orIAs. AND THE MORTGAGOR FURTfiEB CONVENANIS AND AGftEFS: 1. To pay the principa~l indebtedness with Interest es in the note pz'~nvided. To psy monttily unto the Mortgagee, in addiilon to and at the time and place !or edch pnyment of prlncipal and intereet, ~n tn~tallment ot each oi the follow- ing charges: (a> Tnxes and assess~ments, ~enerai or special, and all other cltarges levied or to be levied agediwt the premLses. (b) Premiums to become due and payable for, and to renew, the insurance on the premisea against loaa by flre and such other haaards, casualties eu?d contingenclea es herein provlded for or required irom time to time. The amount a! the respective montlily tnstalltnente shell he equsl to the amount of the snnusl respective charge next ~ due tes estimated by the Mortgagee), lras all installn:enta elreacLy patd therefor, dlvided by the number of monthly in- atallrnenta therefor becomin8 due not Lter than one month prlor to the due date oi sny such charge end ehall be sub- jeet to tncneaae or decrense tn the extent required to create as of a monthly payment date ou the note notless than one rrianth prlor to the due date of eny such charge, an amount sufficient Eor the paiymeni thereof when due and pnyable. In no even2 shal! the Mortgagee receiving such peyment be ltable for any interest on any amount pald to it ay heretn requlred, and the money so received may be held with 3ts own funds pendtr?g paYment os application thereof es herein provided. The Mortgagor shall furnish unto the Mortgagee at least fliteen daya before the due date an official atatement of the amount of any taxes or asseasments next due, and such Mortga~ee shall pa~y the above char~es to the amount o! the then unuaed credit therelor ea atnd when they become se'Yerally dut and peyable. The Mortgagee may, at ita option, ~ pay any oi such chargea when payable, either before or aiter they are ~linquent~ wlthout notlce, or mttke edvances therefor in exce~ 01 the then amount of credit !or said charges. The exces amaunt advanced shall be immediately due and payable to the Mortgs,gee end shall be secured as an additlonal prtndpal sum under thia instrument and bear the same rete af interest irom dste of advancement as the principel indebtedness. M aificial receipt therefor s,t~mll be conclusive evtdence of such payment and of the validity a1 su~ch charges. The Mortgagee may apply credits held by it for the above charges, or arsy part thereoi, on account of any delinquent installmenta of prfndpsl os interest or any other payments maturing or due under this instrument and the amount ot credit exlsting at nnY time shall be reduced by the amount thereof paid or applied as hereis? providecl. The arnount af the existing credit hereunder at the Wne of enq transfer oi the property shall vri:hout essignment thereol inure ta the bene8t of the succes.sor owner of the property and shall be appiled under and subject to all of the provisions hereoi. Upon the payment in tull of the indebtectness, the amount of any unused credit shall be applled Lo the payment thereof. The Mortgagee may colleet a"late charge" not to exceed iour cents (4c) fot e~ch one ~allar (a1.00) of each monthly installment payment required on the note and under thls Mortgage which is more than 8fteen (15? days in arrears, to cover the extre expense involved in handling dellnquent payments. 2. To pay, when psyable, all ta7ces and assessments, general or speclal, water renis er?d ground rents and all other charges whatsoer•er levfed upon or assesged or placPd against the premises, provisicn for whlch h8s not been made here- inbefore, and will prompUy delives Lhe o$icial receipts theretnr to the Mortgagee; to likewtae pay all tuxes, eaaesssssents snd other chargea, levied upon or assessed, placed or made against this instrufnent, or the indebtednesa or any intereat oi the MortgaB~ee in the premises or the obligations secured hereby, provided that the payment of aay such tax ea.sess- ment or charge by the Mortgagar Ls not contrary to lsw or would not result in the payment of an unlavrtiil rate oi inter- est on the indebtedness hereby secured. In the e~•ent o! the passage after the date of this lnatrument ot any law of the State, or subdivision thereof, wherein the premises are situated, creating or pmvlding for any tax, as~eaarnent or charge which by the above pr~viso is nat to be paid by the Mortgagor, the indebtedness secured hereby together with interest due thereon, shall, at the option oi the Mortgagee, become immediately due and payable, and in the event payment ther~- oi is not made Yorthwith, the Mortgagee may take or cause to be taken such action or praceeding as may be taken here- under !ra the case of any other default in the payment of the indebtedness. 3. To keep the buildings and additions thereto on or hereafter erected or placed upon the lanrl insured against Ioss by tire and such other hazards, casualties and contingencies, including war damages i! at any tirr.e a state of war exists or it appears to the holder oi the note that war is imminent, and in such xmounts and tor such perioda, as may be requireci irom time to Ume ~y the Mortgagee, and to pay prompUy when due all premtums on such insurance, provision for pay- ment oi which has not been rnade hereinbefore. The pol~cies of insusance ahall have lass payable provislons ar,ceptable to the Mortgagee and shall be delivered to and held by the Mortgagee, or as it may dlreci, until t.his Mortgage is sat3sfled. R.Qnewal pol3cies o1 inseirance, premlums for whlch have been fully paid, are Lo be furni~tted to the Mortgagee at least fifteen dsys prior to the expiration daie of the insurance thereby reaewed. Th~ insurance shall be written in cornpanies ap~rov~ed by the Mortgagee; in n~ event shall the Mortgagee be held responsible for failure to pay for any insurance written or for any loss or damage growing out oi a defect in any policy or growing out oi ttny failure of any fnaurance company to pay for any loss or damage insured agains~ In the event oi lo~ the 1Viortgagor ahall give lmmediate notice by mail to the Mortgagee who may make proof of loss fi not made p.romptly by the Mortgagor; eaeh lnsurance comptiny concerned is.hereby authorir.ed and directed to make psyment for loss directly to the Morigagee inaEead o1 to the Mort- gagor and the Mortgagee iointly; the lnsurance proceeds, or any p~rt thereof, may be appiled by the Mortgagee, at its option, to the expenses, if any, incurred by it in the collection thereof, to the reduction of the tndabtedness hereby se- c~rEd, to ihe restoration or repafr of the property damaged, or released to the Mortgagor without liability upan the Mort- gagee f~r such release. ,All policies oi insurance are hereby assigned to the Mortgagee as sdditional security for Ne pay- ment o_* the sums and intereat secured hereby; in the event oI foreciasure of thls Mortgage or other tzatLSter oi titia to the premise.t in extingufahment ai the indebtedness, Nl right, titie and interest of the Mortgagor in and to anq ins~rance policies then in force ahall pass to the purchaser or grantee. 4. To complete within a reasonable ttme any building or bulldings now or at any time in the procesa oi ereation upan the land and to pmmpUy repair, restore or rebuild az~y building or improvements now or hereafter on the ]and which may become damaged or be deatroyed, and not aommit or permit to be doae or exiat on or about the premises anything wh~reby the premiees ahall become less valusble; to coxnp3y wfth all laws, rules, regulations, or ordinances oi any govern- rnental agency and not violate or permit 4he violation as to the premises oi any building or use rrestrictions; to keep the land and impmvements thereon 1rne iram mechanlc'a and materialrnen'a llens and will not su!!er any Hen eupertor to the ilen created by this instrument to attach to or be enforced against the premi~es. ~ 5. If detault be msde in the payment of taxes, a~essments, liens, clalms, insurnnce premlams or eay other charge vnha~sotwer, or any part thxreol, or ln the performance ot any act, ta be paW or perlormed by tbe Mort~a~or under the provldona hcz~ot, Yhe Mart~agae may, at ita option, make payment thereol or perform any act nquittd ot the Mortga~or tn any form or manner deemed expedient and pay any other sum tha4 b neceasary to protect the s~ecurity oi this fiastru- ment; the eimounts ao paid, with Interest thereon lrom the date oi such payment at the aa~ne rate ~s borne by the pxiu- cipai fn~ebtedne~r, ~11 be as~aed as nn additionai lien on the premises and ~uril be ~udded to and become a part ai the 1ndeDtedneas secured htt~eby and be fmmediately due a~d paye~ble to the Mortgagee. My payanent hereby auUwrfacd to be msde by the Mortga~ee m~,y be made sccording to any M]]. statement or estimete furnfst~ed or procurM lroai t~e appro- prlate public offix ~ the psrty claimin6 PaYment wlthout inquiry into the eccurscy or validity theno~, and the reeeipt at say pubiic o!~lorr nr party in the hands at the MortgaQree slWl be concluslve e^vldence ot tlf~e vaiidtty ~nd amo~ent ot items w PaW: the Mort~ee shail. at its option, be subrogalted to any encumbn4ace, Hen, claim o~ demand, amd to ~lt the ri~ts ena securi~es tor ct~ee paymenc tnereos, pefd or dls~harged with the prtncivai su~, s~curee here~ ~ dr t~e ~t~rt~.see ~a6er tAe pravlsioaa hereof, and ~nq such ~ubro~wtion rlght~ thall be ~ditional and cumnLtlve securtt~ to Ws ~dort- t~~ ; ~~,.a~ ~zQ 4 5.3 ~