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Home My WebLink About0817 of the Mort~a~ee become immedlately due and payable. without notice, and proceedln~s msy be instltuted by the Mort- ~agee to: the recovery thercot ey foreclosure o~ thla Mort~e. or ia any other manner pernnltted b~r law as the Mort- Qage~ may elect. aayWn~ tn the note or in t1~ls Mort~~e oontataed to the ooatrasy thereto notwitbstaodl~. Upon fore- closure oi thls Mort~q the Mort~aQee sdW be allowed as a part ot the indeDtednas serured hereby. wd the Mort- ~agor ~re~s to W?Y. W cwts and expensa incurnd la coi?necUoA therewiW. lncludtn~ reasonabie ~ttozney'~ hes. oost o! titie and tax sesrch and the extendoa to date of an ab~tract ot tttle or tltle paUcy: aad la case such toreclosure proc~ed- Ings are setUed before the consuauaatioA thereoi or We entry oi iudgment~ any wcA costs ~ad cxpea~es and other charges so lncurred, includtnQ a reasonable attorney's fee. shall nevesthele~s be patd. The Mort~a~ee or a~r party in in- terest„ being tAe 1~i~hest bldder~ may be a purchaser at any fon~closure sale. Any electioa by tbe Mozt~a~ee ~s hereln pro- vided for may be euercisM lmrmdiately upoa default~ or at aay Ume thereafter. and nothin~ shall be construed to be • wdver of such ti~ht unless evidenced by en instrument ia wr(ting to Net effect duly executed by the Mortgagee. The Mortga~or walves all rlght o! honneskad ~ad exempUon granted by the C7o~utltuUon and Lws o! Flodda. AND THE MORTGAGOR FURTHIIi CONVENAN'I8 AND AGREFS: l. To pay the peinclpal iadebtednes~ wtth interest as W the note pmvlded. To p~,y monWy unto the Mortgsgee. fn addiUoa to and at the tlme and place for each psyment ot prlncipal and Internst. an InstallmeAt oi each ot the follow- ~n8 ~'H~~ _ (s) Taxes snd asseam?ents. general or speclal. and all other chargea levied or to be levied a~ainst the premises. lb) Premiwns to become due and psyable for. end to nnew. the insurance on the preraLtes agsinst loa by Sre and such oWer harards, casualties and conttngendes as herein provided for or requlred irom time to time. The amount of the respective montWy fnstallmenta shall be equal to the amount o! the annual respecUve charge next due <aa estimated by We Mortgt~ee). les all instaWnents already paid therefor. divlded by the number ot montNy in- stallments thereior beoomin~ due aot lster thau one mot~th prlor to the due date oi any auch charge and ahall be sub- ~ect to increase or decreaae to the extent re4ulred to create ~s of a monthly? payment date on the note not less than one month prtor to the due dnte o! eny such cMrge. an amount sufficient tor the psyment thereof when due and payabie. In no event ahall the Mortgagee irceiving such payment be llable for ady interest on aay atnouat patd to it as herein required. and the money so received me~y be held with fts own funds pending paymeat or applicaUon thereof as hereln provided. The Mortgagor shsll furniah unto- the Mortgagee at lesst niteen days before the due date an oIIicial statement oi the amount oi any taxes or a~nents next due. and ~uch Mortgagee stiall pay the above charges to the amount ot the thea unuaed credit therefor as and when they become aeverally due aud payable. The Mortgagee may~ at ita option, pey any of such charges when psyable. either betore or atter they are deW~quent, wfthont notice. or make advances therefor 1n exceae of the then amount oi credit for sald charges. The excess aaiount advanced ahall be fmmediately d~e and payable to the Mortgpgee and ahall be aecured as an addidonal prindpel aum under tNs lnstrument aad Dear the same rate ot interest fmm date oi advancement as the prlnclPe?1 indebtedneaa. An offlcfal recelpt therefor shall be conclusive evidence oi such payment and ot the valldity o! auch charges. The Mortgagee msy app~y credits held by it for the above charges, or any part thereof. on account oi any delinquent instsllments oi priudpal or lnterest or any other payments maturing or due under this instzument and the amount of credit exisUng at anY time shall be reduced by the amount thereoi paid or applied as herein pmvided. The amount of We existing credit hereunder at the time of any trana[er of the property shall without sssignment thereof inure to the beneflt oi the successor owaer oi the pmperty and shall be applled under and aubject to all of the provisions hereof. Upon the payment tn full of the indebtedneas. the amount of any unused credit shall be applled to the payment thereof. The Mortgagee may collect a"late charge" not to exoeed four cents t4c) for each one dollar (i1.00) oi each monthly installment payment required on the note and under this Mortgage which is more than Sfteen (15) days in arrea:s, to rnver the extra expense Involved in handllng dellnquent psyments. 2. To pay. when payable. all taxes and asseasments. general or special. water rents and ground rents and all other charges whatacever levied upon or asaessed or placed against the premiaes, provision for wWch has not been made here- inbefore. and will pmmpUy deliver the oHicial recelpts therefor to the Mortgagee; to llkewiae pay ali tsxea. assessnenta and other charges, levied upon or assessed. placed or made againat this instrument, or the indebtednes~ or any interest oi the Mortgagee in the premisea or the obllgations secured hereby. provided that the pa~yment oi any such tax aasess- ment or charge by the Mortgagor 1s not rnntrary to law or would not result in the paYment of an unlawlul rate of inter- est on the indebtedness hereby secured. In the event oi the passage after the date oi this instrument oi any law of the State. or subdivision thereof. wheretn the premises are sttuated, creating or provlding for any tax, assessment or charge which by the above proviso Ls not to be paid by the Mortgagor. the indebtedness eecured hereby together w!W interest due ' thereon, ahall. at the option of the Mortgagee. become immediately due and payable. and In the eveat payment there- ' of fs not made iorthwith, the Mortgagee may take or cause to be taken such actioa or proceeding as may be taken here- ~ under in the csse of aay other default in the payment of the indebtedness. ; 3. To keep the buUdings and addittons thereto on or hereafter erected or placed upon the land insured agalnst lass ! by fire and such other hazards. casualUes and contingeacies. including war damages it at any time a state of war e~dsts or ~ it appesrs to the holder oi the note that war fa imminent, and in such amounts and for such perioda. as may be requtred ~ lrom time to time by the Mortgagee. and to pay prompUy when due all premiums on such insurance, provision for pay- ment of which has not been made hereinbefore. The polides ot insurance shall~ave loss payable pmvlsions acceptable to ~ the Mortgagee and shall be delivered to and held by the Mortgagee. or as it may direct, until thls Mortgage ls satisiied. ~ Aenewal pollcles oi insurence. premiums for which have been fully paid. are W be furniahed to the Mortgagee at least ~ 8iteen days prlor to the expiration date of the Maurance thereby renewed. The lnsurance ahall be wrtttea in companies ~ approved by the Mortgagee; in no event shall the Mortgagee be held responsible for failure to pay for any iasurance wriiten or for any lost or damege growing out ot a defect in any pollcp or growing out of anq fatlure of any insurance company to pay for any loss or damage insured againsi~ In the event o! losa the Mortgagor sAsll give immediate noUce ; by mail to the Mortgagee who may make proot of loss if not made pmmpUy by the Mortgagor; each insurance company ~ concerned is. hereby suthorized and directed to make payment tor loas directly to the Mortgagee lnstead oi to the Mort- gagor and the Mortgagee iolnUy; the insurance procceds, or any part thereot~ may be appl[ed by the Mortgegee. at 1ts option. to the eupenses. It sny. incurred by it in the collection thereof. to the reduction of the [ndebtedneas hereby se- ~ cured, to the restoration or repair ot the property damaged. or released to the Mortgagor wtthout llabWty upon the Mort- ~ gagee for such releaae. All polldes ot insurance are hereby assigned to the Mortgagee as addlUonal security for the pay- ' ment ot the sums and lnterest aecured hereby; in the event oi forecloaure oi Uils Mortgage or other transter oi titia to the ~ ~ premisea tn extinguishment of the indebtedness, all rlght, title and interest of the Mortgagor in and W any lnsursace polides then in force shall pass to the pumhaser or grantee. ~ 4. To complete a~lthin a reaaonable time any bullding or buildings now or at any time !n the process of erection upon ~ tbe land and to pmmptly repair. restore or rebuild anq bullding or impmvements now or hereafter on the land wWch may become daaoaged or be destmyed, and not comrNt or permlt to be done or exist on or about the premises anything ahereby the premisea shall become lesa valuable; to comply with alt Iawa, rules, regulaUons, or ordinances oi an~ gov~rn_ _ ' mental agency and not violate or pernilt the violation as to the premises of any bullding or use restrictions; to tep the i land and improvemenis thereon iree irom mechanlNs and materialmen's llens and w111 not suffer any flen supedo~ to the f llen created by this inatrument to attach to or be enforced aga[nst the premfsa, t 5. Ii detault De mad~ in the payment of taxes, easeaunents, llens, claims, insurance premlums or any oWer charge ` ~ wMtsorver. or anq part thereof. or in the dormance of an ac to be ; ~ p ~ p pqyment thereM or or~ mo the Morteagor under tht " rovWoas hereot. the Mortgagee maq. at its o tion. malce ~ pe y requlred ot the MortgaQor : 3~ in any form or manner deemed expedient and pay any other sum that l~ necea~ary to protect tl~e secudty oi thls fnstru- ~ ~ ment; the amoun4 ao patd. wlth Wterest thereon from the date oi such payment at the aame rate as borne by tLe prln- _ ; dpal indebtednw. shall be asseased as an additlonal llen on the premises and shall be added to and bea~me a put of the ~ indebtedneas secured hereby and be Immediately due and payable to the Mortgagte. My payment t~ereb~ autborixed to be i made by the Mortga~ee me~y be msde acoordir?g to any bW. statement or estimate fundshed or procured from tl~e appro. = :f~ prlate publ[c oIDce ~ the pirty clatming payment wltlaut Snquiry lnto the accuruy or valtdlty thereo~ and t6e reoeipt oi ~ aay public o~icer or party in ttie hends oi tde Mortgagee shW be coacluaive evfdence oi tLe vali~tq? aad amount oi item~ # ~j w paW: tlie Mort~agee s6a11. at its opUon, be subro~ated W~ny encumbrsnce. 1len. clafm ae demaad, ~nd to all the ri~hts 9 ~ aad aecudtlei for the paytnent thereot. Paid or dluhar~ed wlth tDe priacipal sum secured herebr ae b~ t6e Mort~ee under tAe prnvWaa hereoi. and any wch subro~atlon sighta a1W1 be~ddttional aad cumulative ~ecuiiq? W tbls Mort- ~ ~ t~• ~ UR ~ 8001( ~~0 PACE s ~ ~ ~4_ ~ ^ _ ~ ~ ~3'~„~ =