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HomeMy WebLinkAbout0793 ot the Mort~~ee become iaamedlat~l~r due and DaYS01e. without noUcq uid Proc~din~a aW be fasiituted by tM ]~ort- ~ee Lor 1Ue ra.~avcrp thereot by toreclosuce o~ tdls 1~ortZa~e. or la any other maanRr peraattted b~r law as the Mort- ~~K~ Q~lC~ i1l~flj lll L1N IIMA Oi 1A Lhlf ~Ol'~~tt! OOAwQlQ t0 ~10 bOR~~ ~ZO AOL~i~IIj. UpOD =OZ'! : C103{Il'! OL ul~i ~Ol~~l. L~If ~ i11iu DQ iuOw'!a ~f i pl[t CS Lb! EAd!!~Rl~ ~!.'C1L!!~ ~1lIlby~ YI~ LZl! ~Ol'~- ~a~O~ at~ to Wt1~. a11 co~ta and expenxs incurred 1n ooru~ectlon therewitb. indudln~ :eason~ble atWrne7'a lee~ aost ot tltl~ and tax searcR and the exteadoa to date ot aa ~b~act oi tttle or tlW poli4?: wd ia ast aicl? tor~clo~ure Proceed- la~s ue aettlcd betore tLe cona~mmatlw~ theceoi or the entq? ot ~ud~nent, W ux3~ oosts uW e+cpen~s aad other char~es so lncumd. hu~ludlns a reasonabl~ attarae~"a fe~ shall neverthelas be D~ TAe Mcrt~+~ee oe' W lxrU? fn in- tered. bein~ the hiiAa~t bldder. a~y be a P~r~aser at aq~ iore.~ostue ql~ Aar electioa by tse 1[ott~ajee iut betrln Pro- vlded for moy be exesclsed 1mme~diatey upon detanl~ or at snP Uuie tAera~ttes. and aotNnt shaU be oo~ed to be a wdver ot aucR ri~ht ualds a~Weaced by ~a lnshumeat 1n wdU,~ to that eQect dul~ executed by the Mortgagee. The ; Mortta~or waives aII rlsht ot !~ome~terd ~nd euempUaa sesnted by the QonstituUon and Laws ot Flo~fita. AND THE MOBTGAGOB FUiiTHER CONVENANTS AND AGItEFS: l. Zb pay the Prtndpai h~debtedness with lntrrest as !n the aote pmvided. To paa? month~y unto the Mortgagee. tn additton to and at the tliae ~nd plac~ Lor each pewment of prindpal and lnterest. an instaU~nent ot e~A d tRe tollow- fa8 charBes: Teuca end as~easinentR B~enl or speclal. sad all oWer charges levkd or to be levied uga[nst the ~ premises. (b) Premiums to become due aad payable for. and to renev?. the lnsuraace on tlse premises aga4~st lo~s by Sre and such otAet ban~rds. casualties. end oontin~encks as herela provided for Or ~'Muired Lrom titne to Nme. ?he amwunt oi the respective monJ~ Installraenb shsll be equal to ihe a~ow~t ot the annual reapective charge next due (as sstlmated by the biori~atee). leu all instaIIments already pald t~erefor, divlded by tl~e namber ot manthly ln- stallments tLerefor becomin8 due aot later thsn one a~nW prbr to the dae dats ot aqy sueh charge and sball be wb- iect to tncreaae or decrease to tAe extent re~luired to cnate aa oi e monUily paymeut date on the note not leas t6an one monW prlor to the due date ot an~y sucl? clsarge. an amount suaicieat for the psyment thereof when due and psyable. In ao e~veat shaL the Morcgaigee reoeiving auch payma~t be liable for aqq intereat oa anp? amount paM ta !t as hereln requtred. and tbe money so reoeived ma,y be held with ita o~vn tunds P~~S PRY~at or appHcation thereoi as herein pmvlded. The Mortgagor aAsU furnish unW tbe Mort8a8ee at leaat Stteen d4Ys before the due date aa oIIidal statement of the amaint of an7 taxes o* asseasnents nezt dae. and such Mortga~ee tlull ps~ tde above charges to the amount of the th~ unuaed credit theretor ~s and when the~? become aeveral~j? dne and payable. The MortBagee maj?. at its optiwi. ~ pqy aqy oi such charBes whea p0.Yable. either before or dter they are deliaquent, witLout notice. or make advunces therefor 1n ezceae ot the then amount of credit for sald chnrSes. The esoas ~mount a~dvanced abaU be la~medlat,ely due snd psyable to the Mortgpgee eu~d ahall be aentred as an additlonal prindpal wm tu?der tt~is instrument aad bear the same nic of Interest irom date of advencement as the prindpal ladebtMness. An offidal n~oeipt there[or sAall be concludve evidence of such pqyment and oi the valtdlty oi such char8es. The Mortgagee me?~? appb? eredits held by it for the above . charge~ or any part thereof. oa account oi aay delfnquent installmenb of prlndpal or interest or any other payments matudng or due under thb inatrument and the amount oi cred~t existing at anY time sAall be reduced by the amount ihereo! pnid ~r epplied as herein Qrovided. The amount oi tLe exlsEing credit hereunder at the time ot any trsnster of the PropertY shall without assigameat thereof inure to the bene8t oi the wcoessor owner of the Properq' and shall be appIIed under and aubfect Lo all of the provisfom hereoi. Upau tLe payment in full ot the indebtedneas. the amount of any unused credit shall be applied to the paYment thereot The Mortgagee me?y collect a'7ate charge" not to exoeed four ceatt (4c) for each one dollar (iL00) of each monthly insWlment psyment requfred on the note and under this Mortgage which Is more thaa Siteen <15) d~,ys in arreais, to cover the extra experue involved in handling dellnquent pqyments. ~ 2 To psy. when payable. all taxes and assessments, general or special, water rents and ground rents and all otAer charges whataoever levied upon or arsessed or placed eS~t the premises. Provision for wWch Ms not be~ made here- inbefore. and will promptly deIIver the_ oIIicial receipts therefor to the MortBaBee; W likewi~e pay aU taxes. as~smeata ~ and other charges, levted upon or a~ed. placed or made against this Instnuhent, or the iadebtednesa or any fnterest oi the Mortgagee in tt?e premises or the obligations secured herr~y. Provided that the payment of any wch tax a~ess- ment or charge by the Mort~agor is not oontrary to law or would aot resuit in the psyment of an unlawiul rate oi lnter- est on the indebtedness hereby secured. In the event oi the paasage after the date of this instrument oi any Lw of the ; State~ or subd(vlsion thereof. • wherein the premiaes are sEtuated. creating or providing for any tax. a~ment or which by the above pmviso is not to be paid Dy the Mortgagor. the indebtedness secured herebq together with fnterest~d e ~ thereoa. shnll, at tLe option of the Mortgagee, become immediately due aad payable, and in the ev~t psyment then~- I~~ ~ is not made forthwitA. the Mortgagee maY take or caux to be taken such aeti~ or ProoeedlnS as maY be taken here- k under ia the case oi aay other default in the payment oi We indebtedztteas. I _ 3. To keep the bulldings and add[tions t6ereto on or hereatter erected or placed upon the land iasured against loss I bq Sre and such other hazar~d~ cas~altles and contingeacies. iacluding aar damagea li at any time a state oi war exists or 1t appeas to the holder of the note that war is imminent, and Ia such amounts and for such periods, as maq be requtred I ment o~ wWch hasbnot ~l+ePn mrte~de~he~ reinbeto~re.y The polictes ot insurance shall hav loss g~yable pro ~vl~o~ aooeptableato the Mortgagee and shall be delivered to and held bq the Mortgagee. or as lt may dlrect, u~Ul thls l~ortgage b~satisSed. Renewal poHdes oi insuranc~ premiums fur which have been tuliq paid, are to be furafshed to t~ Mortgagee at least ntteen days Prior W the expiration date of the insurance t~rebY renewed. The inwrance shail be wslttm !n companies approved by the Mortgagee- in na event shail the Mortgagee be held respondWe for failure to pay for aay insuranoe written or for any i~ss or ~damage growin8 out oi a defect in any pollcy or growing out of any fatlure oi any insurance company to pay for any laas or damage insured aSalns~ In the event oi loas the Mortgagor shall g[ve immediate notice bq mail to the Mortgagee who may make prooi o! l~s it not made promptly by the Mortgagor; each insuranoe compsny oonceraed is. hereby authorized and directed to make payment !or lo~s d[recUy to the lttortgagee instead o1 to the Mort• • gagor and the Mort8a8~ 3~UY: the insurance prooeeds. or any pert thereof, maq be applled bp tLe Mortgagee~ at 1ts option. to the expenses. Ii any, incurred by k in the collection thereof, to the reductioa oi the indebtednee hereby se- cured, to the restoratlon or repair ot the property damaged, or released to the Mortgagor without 11abWq? upon the Mort- gagee for such release. All polldes oi insnrance are hereby assigaed to the Mortgagee as additlonal seeudt~ for the pay- ment of the awns aad interest secured hereby; in We event o[ foreclaaure oi thN Mortgage or otL'r trandes M tltla to the premises ln extlnguishment ot the indebtednesa. all right, tltle aad lnterest oi the Mortgagor in and to eny fnwraace poUdes t6en in force shall pass to the purchaser or grantee. 4. To oompiete Wlthin a re~onable tlme any building or buildings now or at any tlme 1n the prooess ot erection upon tbe land and to pmmptty repair. restore or rebufld any building or impe+ovementa now or hereafter ~ tbe land whic6 maq bec~ome dainaged or be destroyed, and n~ commit or permft to be done or rzist on or about ihe premtsa anything whereby, the, premisa shall become less valuable: to comply a~ith al! laws. rules. reBuLUons. or ordlnanaa ot enY 8~~- meatal +ige~ccY and not violate or permit tLe vidation as to the prem[ses of any buflding or use restdctbm; W keep the Lnd and improvements thereon free from mechanlc's uM materialmea's llens sad vvfII ~t suffer a~ 1len snperior to the lien created by thb instrument to attach to or be entorced against t1~ premises. ~ 5. It deiault De made in the payment of taxes, a~ssments, IIens, clsfms. Insursnce pnemfums or any other charge ~ whatsoe~ver, or aay part thereof. or in the peri~rmance oi aqy act, to be pald or pedormed b~ the ldor:~agor under the ~ PravWons ha+eot. the Mort~aBce auY. at its option. make pe~yment thereot or periosm any ad required a[ t6e ld~rtgagar in anr form or manner deem_~d expedient and ps,y a~? other snm that is deoesaar~ to protect tLe secudq? oi this lnstru- ment; the amounts ao psid, wlth interest thereon irom t~ date of such payment at tbe aame nte as borne b~ tbe prln- dP~l indebtedne~s, saall be assesed as m additlonal lfen on the premts.,~s and ahall be adaed to aad beoome a part ot the 1ndeDtednes ~ecured hereby and be immediately due and psyable to thc Mart~a~ee. Any p~yment Lerebp anthorl~ed to be ~ made bY tl~s Mortga~ee mq+ be made accordtn8 to saY b111. statement or estimate furnia.tied or proeured tro~ the appro- P~~' Publlc oIDoe or the Wrb' ~nB PaYment witl?out iaquiry fnto the ao~vrai.7 or validlq? theneo~ and the reoelpt a[ au~ pnblic ofAoer or party in the hands oi the Mortgagee shall be conclus[ve e~vldraoe ot tbe va1WN~ aad amount oi fteno~ so paid: !!ie ~ariSaBee sha11. at its optioa. be subrogated to any encumbranae. llen. claim ae deznand, oad to W tl~e tiehts aM ~ecudtles fos the p~yment thereol, p~id or dt~chargeQ wlth tbe prfndpal sum ~ecured herebp oe b~ tb~ l[oet~ee w~det tIle PrnvldOm bereo~ ~nd ~ap wch subroQaHon r[ghb ~hal~ be ~ddltional ~nd Cnmulative ~ecuslt~? to tbfs ~ort- t+~f~• F ~ 3 sooK159 PAGE 193 - i _ ~ ~ ~ ~ - _ ~ ~ r> _ ~~~r: ~ r .