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Home My WebLink About1280 ~ i oi the Mort~s~ee become immedlately due ar~ w?YaWe. a?lthout notice. and Proceedin~s m~Y be lnstituted by the ~dort- gagee 1or the ncover~? thereot by foreclosure ot thls Mort~e~ or in any other a?anner pendtted b~ Lw as the Most- QsBe~may elect. aqrthtn~ U? the note or in thia Mort~a~e oonWned W tAe oontrar9 thereto notwithstandln~. UP~ fore- cloaure ot tt~is Moriia~e. tAe Mort~a~ee s1?W be allowed as a part ot tAe lndebtednas secured herebY. and the Mort- U~e aad t~an t~ d We e~~teadoe? to dn e a~~an~abstnct tio U therealU P~~Y; aad~wch ~foe~e~i~.l,osur~e praeedf ings are settled before the cons~taunation thereof or the eatn? oi ~udgmen~, aqy? wch costs aud cxpenses ~ad otLer charge, so mcurrea~ meluatns a reawaaele •aomey's tee. shau nevercnelea. ee pala. The Mort~.~ee or w wrb?1n fn- [ terest, being U~e hi~hed bldder. may be s purcheser at aa~? foreclaure sale. Aqy electlan py t~e Mortga~ee as herein pe'o- vlded for may be exerctsed lma~ediatdl uPon defaul~ or at ~qY tlme thereatter. ~nd aoWn~ a1~W be construed to be a walvse of such rtght ualess evidenced by m instrument in writin~ to that eIIect dtily executed by the Mortgsgee. The Mortgagor wdves ari r!~!?t o! bo~nestard and exempttan ~ru?ted by the (7onstltutlon aad Lawa ot Florlda. AND THE MORTGAGOIi FURTF~R CONVENANT3 AND AGREES: i 1. To psy the princiPal indeDtedness wlth interPat as in We note provlded. To pqy monWy unto the Mort8+~8~. ; la addltioa to and at the time and pLce for each paymeat of prindpsl and lnterest. an installment ot each ot the follow- ; WS charSes. i (a) Taxes and smea~nent~, genesal or speclal. wd all other charges levied or to be levled against the premises ' (p) premiums to become due and pe?yable for. and to nnew. the lnsurance on the premises against loas by Sre and ; mch oi~r ha~aMs. casualties..ai4d ~on~tei as her~In.prQVide~fos ar i^e9ulred trom tiaie to time. ; x The amount oi the respective a?a?thly Installtnents shall be equal to the amount oi the annual respe~tlva char8e next ? due (as cstimated by the Mortgagee)~ leat all installnnents alreadY Pa1d therefor, divlded by the number at montWy W ~ stallmenb therefor becoming due not lster tt~an oae moath prlor to the due date oi anq such charge and alu~ll be sub- < ~ect to increaae or decreaae to tUe extent nqulred to create aa oi a moathly paymeat date on tbe note not las thnn one ~ month prtor to the_~ue date o! a?ny suct? char~e. an amount su(ficient Lor the p~!ment_ t1?ereoi when due and psyable. s Ia no eveAf Mell the Mortgagee reoe1v1n8 such PaYmenZ be Aable 3or any [nterest oa aq~? amount pNd to it es hereln j required. and the money so recelved msy be held with 1ts own funds pending payment or applicatioa thereof as herein ~ provided. The Mortgagor shall furaish unto the Mortgagee at leaat niteen days before the due date an ot[iclal statement oi tbe amount oi any taues or aseesaments neut due. and such Mort~agee shall psy the above cbar~es to the amount of the then nnused credit therefor as and whe~n they become severally due atW psYable. The Mortgagee me?y. at its optlan. pay any oi such charges when psysble. dther before or aiter they are deW?quen~ without noUce. or make advances therefor in exceas oi the then amamt oi credit for said charSes. The exces~ amount afi?anced ahall be immediately due ; and payable to the Mortgt~geP and sha11 be secwred es an addiuonal prindpal mm under thls Instrument and bear the same ; rate of interest irom date oi edvancement as the prlnciPal lndebtedneaa. An oatcial receipt thereior shall be conclusive ~ evidence of such payment and oi the valldity oi ~ch charBes. The MortQagee mqy app~y credits beld by it for the above charges. or any part Nereof. on account oi anq delfnquent instaIIments oi prindpal or interesC or any other payments matwring or due under this Instrument and the amount of crndit existing at anY time shall be reduced by the amount thereoi pald or appIIed as herein provlded. The amouat of tLe exlsting credlt hereunder at the tlme oi any tranater of the property shall aithout assignmeat thereoi inure to the bene8t ot the sucaeaaor owaer of the properb? and ahall be applled under and aub,~ect to all oi the pmvlsions hereof. Upon the pe4yment 1n full o! the indebtedness, the amount ot any unused credit ahall be applled W the pnYment thereoL The Mortgagee may oollect a"lste charge" not W enceed four cents (4c) foC each one dollar (i1.00> of each monthly InstaAment payment required on the note and under thls Mortgage which is more than 8fteen <15) days in arrears. to cover the extra expense U?volved in handUnB delln9uent payments. 2 To pay. when payable. all taxes and a~ssmenta, general or special water rents and ground rents and all otber charges whatscever levied upon or asses~ed or placed agalnst the premisea. provis[on for which 6as not been made here- inbefore. and will pmmptly deliver the oHicial receipts therefor to the Mortgagee; to lUcewise pay all taxes, a~eessmenis and other charges, levled upon or assessed. place+d or rnade against this instrument, or the indebtedness or any interest of the Mortgsgee in the premises or the obligations secured hereby. pmWded that the paymeat of any such tax asaess• ~ ment or charge by the Mortgagor ia not contrary to law or would not result in the psyment of an unlawful rate of inter- est on the indebtedmess hereby secured. In the event oi the passage after the date oi this tnstnunent oi any Lw of the : State. or subdivision thereof, wherein the premises are sttuated, creating or providing for any tax, assessment or charge ~ which by the above proviso ia not to be paid by the Mortgagor, the indebtedness secured hereby together wltA fnterest due ~ thereon. shsll, at ~e option of the Mortgagee, become immediately due sad payable. and in the event pqyment there- of is not msde forthwftL, Ne Mortgagee maY take or cau~e to be taken such actlon or proceeding as may be taken here- ± ! under ~a tihe case oi anq other default in the payment oi the indebtedne~. ~ ~ 3. To keep the buildin~ and additions thereto on or hereatter erected or placed upon the land fusured againat loss by flre and such other hazards, casualties and contingencies, including war damages it at aay Wne a state oi war e~dsts or ~ ~ it appears to the holder of the note that war is Lmminent, and In such amounts and for such pesiods, as may be required s imm time to time by the Mortgagee. and to pay prnmptly when due all premiums on atch Insurance. pmvWon for pay- ; ment of which has not been made hereinbefore. The policies of insurance shall have lom payable provisions soceptable to ~ the Mortgagee and shall be delivered to and held hy We Mortgagee, or as It may dlrect, unt11 Uils Mortgage is sattsfled. Renewal pollcies of insurance. Premiums for which have been fully pald, are to De furnWied to the Mortgagee at least ~ ~ Sfteen days prtor to the expiration date oi the Insurance tbereby renewed. TLe inauance ahall be wrltten in companles approved by the Mortgagee; in no event ahall the Mortgagee be held responsible for failure to pay for any insurance ' written or for any loss or damage growin8 out oi a defect in any pollcy or grovving out of any lailure oi any insurance ! company to pay for any loss or damage insared agains~ In the event ot las the Mortgagor shall give immediate not[ce ~ by mail to the Mortgagee who may make proo[ of losa i[ not made prompUy by the Mortgagor; eact? insuraace companq ~ concerned is. hereby authorfzed and directed Lo make payment for loss directly to tbe Mortgagee instead ot to the Mort- gagor and the Mortgagee joinUy; the insurance proceeds. or any part thereoi. may be appHed by the Mortgagee. at its option~ to the expeasea, if any. lncurred by it in the collection thereoi, to the reductfon of the indebtednes hereby se- ~ cured, to the reatoretion or repair oi the property damaged, or releaaed to We Mortgagor without 3iabWty upon U?e Mort- ~ gagee for such release. Ail poHdes of insurance are hereby asdgaed to the Mortgagee as additional secudty ior the pay- ment o! the sums and fnterest secured hereby; In the event of foreciosure ot thb Mortgage or other trans[er oi Utlo to the f premi~es in extfnguishment oi the indebt~daess, ell rlght~ tltle and interest of the Mortgagor In end to any inwrance + poHdes then in force shall psas to the purchaaer or grantee. 4. To complete witl~[n a reasonable time any build[ng or buildings now or at any time 1n the prooess ot erection upon tLe land and to prompUy repair, restore or rebuild any building or lmprovements now or he:rafter ~ the Iend wWcb ; may beoome damaged or be destroyed. aad not aommit or permlt to be done or e~dst on or about tbe premi~es anything ? whereby the premises ahall beaome less valuable; to comply with all lawa, rules. regulaUona, or ordinances of any gavera- - mental agenry and not Wolate or permit the vlolatlon as to the premises ot any building or use reatrictlom; to keep the 4 land and impmvemenis thereon iree irom mechanfc s end materisimen's ll~s and ~vlll not su![er aay Hen superior to the a llen created bq this instrument to attach to or be entorced aBafnst the premises. • ; ~ S. It deisult be made in the payment of taxes. assessments, llens, clafms. lnsurance premiums or any other charge ; wMtsorver. or any part thereof. or in the pertormance oi any e~ct, to be pald or pedormed by t6e M~ortQsgor under the provfdons hereof. the Mortgagee may. at Ita option. make ps,yment thereot or pertorm any ad requlred ot t1~e Mortgagor in any form or manner deemed expedient and psy any otber sum that M neoaaary to protect tbe secudty oi tbls instiv ment; the amouab so paid. wfW interest thereo~n irom tLe date of such payment at th~ wne rate as borne by the prln- dpal indebtcdna~. sLall be aa~ed as an addfUonal llen oa the premises and shall be ad8ed to and beoo~e a part oi the • lndebtedneas secured hereby and be immediately due aad payable to tlie Mortgagee. Any payment bereby autLorined to be made by the Mortg~ee maa? be made aooording to anY b111. statement or estimate furnfshed or procured irom t6e appro- prlste publlc o~ce ar the P~Y ~S P~?ent wltbout fnqulry into the aocurac9 or valldfq? tLerea~ and tLe reoefpt oi ; +~Y Pnbllc oalorr or party ta the baads o1 the Mort~a~ee shall be c~cl~[ve evl8eace ot t6e validiq? aad amount a[ itemr ~o Pa~d: the Mort~a~ee sba11. at !ta optioq be aubro~ated to ~ny encumbranoe. 1fen. ¢lalm oe 3eznaad. and to a11 the rlYhts ~ ana .e~udne. tor U,e paya~eat chereo~ wid or afs~har~ed with tbe prlncipal sum ,ecurea hereby oe bs tbe ~e«t~asee under tLe p:+o~vWoos ~ereot. aod any such wbro~tbn rt~ts ~au be additlonal anA eumulaHve ~ecur[qr to tbfs l[ort- ~ s~. . s~164 ~12?9 _ v: - s ? •35