HomeMy WebLinkAbout2973 items when the same will become due, and Mortgagee ad-
vises Mortgagors of the deEiciency, Mortgagor6 shall,
within ten days after receipt of such notice, deposit
with Mortgagee the additional amount requested. Fail-
ure to make any deposit when due shall be a breach of .
this Mortgage. If at any ~ime thereby default in any
of the provisions of this mortgage, Mortgagee may, at ~
its option, apply any money in the fund on any of the
mortgage obligations and in such order and manner as it
may elect. On full payment of the mortgage debt any un-
used portion of the fund shall be released. Transfer
of legal title to the mortgaged real estate shall auto-
~ matically transfer to the new owner the beneficial in-
; terest in the fund. .
8) That Mortgagors will not use nor permit the
use of any part of the premises for any un2awtul pur-
pose or for the commission of a nuisance. That Mortga-
gors will not remove nor attempt to remove any part of
~the mortgaged property. In the event Mortgagors should
~ violate any one of ttiese covenants Mortgagee ma.y, at its
option, declare the entire balance of the indebtedness
immediately due and payable.
9) That Mortgagee shaZl have the right to col- '
~
lect the proceeds from the surrender of any insurance }
~-I
~ policy to the insurer, shall have the right to receive ~
any rebate or repayment of taxes or assessments and shall
have the right to receive the proceeds of any cor.demna-
~ tion or taking of all or any part of or right in the mort-
gaged property. Any amount so received by Mortgagee may
be applied to the mortgage indebtedness in such manner as
Mortgagee may elect. •
IO) That neither the provisions of this mortgage
nor of any note secured hereby shall have the effect of
or be construed as requiring or permitting Mortgagors to
pay in~erest in excess of the highest rate per annum
allowed by the laws of the StaCe of Florida or of the
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60oK 157 ~~E 572 .
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