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HomeMy WebLinkAbout1012 i i oi the Mori~agee berome immedlately due and payable. wlthout noUce. snd prooeed[n~s may be lastltuted Dy the ~dort- gagee for the recw~ery thereoi by Loreclaauce oi thts Mortga~e~ or 1n say other manner peradtted by La as We Mort- ~agee m~y elect. aqythin~ fn the note or In thls Mortga~e contalned to the oontnry thereto notwitdst~adln~. Upwr tore- closure oi thb Mort~e~e. the Mort~agee shall be allowed ss a part of tlie lndebtedaw sccured hareby. and the Mort- gagor agrees to psy. W costs and expenfes incun+ed in ooaneMion therewith. iacludln~ reasoQable attorney'a fea. cost oi Utle and tax sesrch and the exte~lon to date ot an abatraM ot tiUe or tlUe pollq?; and in c~se such ioreclaaue proceed- ings are settled before the consua~matlon thereof or the entry of ~udgmet~~, any wcl? ccsts aad expen~es and other chuges so incurred. lncludin~ a reaaonsble attoraey's fee. sAall neverthelas be paid. The Most~~ee or any party ia !n• ~ terest. bein~ tAe hlgheat bldder. may ~e a purchaser at any foreclc~ure sale. Any eleciton by the Mortga~ee as herein pro- vided for may be exerclaed immediately upon default~ or at any Ume thereattcr, and notNng shW be constmied to be a walver of such right unless evldenced by an instrument in wriUng to that effect duly execnted by the Mortga~gee. Tde Mortga~or waives all right of homeatead end exemptloa grsnted by the Constitullon and Laws ot Flodda. AND THE MOR'1~GAG08 FURTHER CONVENANT3 AND AGREFS: l. To pay the prlncipnl Indebtedness wfth interest as in the note provided. To pqy month~y unto the Mort~agee. ~ in addition to and at the time end place for each payment oi principel and tnterest. an Installment ot each oi the follow- 1n8 chargea: ~ (a) Taxes and asses4menta~ general or special, snd W other chargea levled or to be levied a~ainst tht premises. (b) Premiums to become due and payable for. and to renew. We insurance on the premises a~alnat loas by Sre and { such otRer he7ards. casualUes and conUngenctes aa herein pmvided for or required irom time to time. The amount oi the respective monUily tnstaUments shall be equal to the amount of the annual respecttve charge next ~ due (aa eatimated by the Mortgagee), leas all instelunents already paid therefor. divided by the number oi monthly ln- staIIments therefor becoming due not le~ter than ane month prtor to the due date of aqy such charge and ahall be sub- ject to [ncrease or decrease to Ne exteat requlred to create as of a monthly pqyment date on the note not less than one # month prior to the due dt?te ot any such charge. an amount suHlctent for the psyment Wereoi when due ~nd payable. ~ In no e~ ent shall the Mortgagee receiving such payment be llable for any interest on any amouat pald to it es herein ~ required. aad the money so received mqy be held wlth ita own funds pendL?g payment or applicatton thereof as heretn ' pmvlded. The Mortgagor shall furntah unto the Mortgagee at leaat 8iteen daya before the due date an official statement 3 of the amonnt oi any taxea or as~easments next due. and such Mortgagee aball pqy the above charges to the amount oi € the then unused credit therefor a~s and when they become several~y due and payable. The Mortgagee msy. at its opt[on. ~ psy any of such charges when payable. elther before or after they are dellnquen~ wlthout notice, or make advances ` therefor in exceas oi the then amount of credit for aatd charges. The exce~ amount advanced sha11 be trn~nediate~y due 3 aad payable to the Mortgagee and shall be aecured as an additlonal prindpal sum under thts instrument and bear the same rate ot interest irom date ot advancement as the pdncipai indebtedneaa M o![iclal receipt Werefor shall be conclus[ve { evidence of such payment and of the validlty oi such charges. The Mortgagee maq appty credita held by it for the above ± charges, or any part thereof, on account of anq deUnquent installments oi prlndpal or interest or any other payments ; raaturtng or due under thia instrument and the amount of credit existing at any tlme ahall be reduced by the amount ~ thereoi paid or appl~ed as herein provided. The amount ot the existing credit hereunder at the time of any transfer of the property ahall without assignment thereoi inure to the beneHt oi We successor owaer of the pmperty and shali be applled under and aubject to all of the provistons hereof. Upon the payment in full of the indebtedness, the amount ot any unused credlt shall be applled to the paymeat thereoi. The Mortgagee may collect a"late charge" not to exceed four cents (4c) foC each one dollar (i1.00) ot each monthly [nstallment payment required on the note and under t!?is Mortgage which is more than Siteen (15) days in arrea~s, to cover the extra expense involved in handling dellnquent payments. 2. To pay. when payaDle. all taxes and assesSments, general or special, water rents and ground rents add all other ~ chargea whatsoever levled upon or a~essed ot placed against the premises, provision for wh[ch has not been made here- Y inbefore. and will promptly deliver the oHictal teceipts therefor to the Mortgagee; to likewiae pay a11 taxes„ as~esunenta i and ather charges. levted upon or assessed, placed or made againat this instru~hent~ or the indebtedneaa or any interest of ~ the Mortgagee in the premises or the obligatfons secured hereby. prov[ded that the payment of any such tax assess_ ment or charge by the Mortgagor Ls not contrary to law or would not result in the pavment of an unlavviul rate of inter- est on the indebtedness hernby secured. In the e~~ent of the passage after the date of thIs lnatrument oi any law af the State, or subdivision thereof, wherein the premises are situated, creattng or proWding for any tax, aas~nent or charge which by the above pmviso is not to be paid by the Mortgagor. the indebtedness secured hereby together with fnterest due ther~on, shall. at the option of the Mortgagee, become immediately due and payable, and in the event payment there- ot is not made forthwith. the Mortgagee may take or cause to be taken such aMion or proceeding as rnay be taken here- under in the case ot any other default tn the payment oi the indebtedness. 3. To keep the buUdings and additions thereto on or hereafter erected or placed upon the land iasured agalnst loss by fire and such other ha7ards, caaualUes and contingencies. including war damages it at any time a atate of war exists or it appeara to the holder of the note that war is immineat. and fn such amounts and for such periods~ aa mq~r be requir~ trom Wne to time by the Mortgagee, and to pay promptly when due all premiums on such insurance, provlaion for pay- ment of ahich has not been made hereinbetore. The policies of insurence shali have loss payable provlatons acceptable to ; the Diortgagee and shall be delivered to and held by the Mortgagee, or as It may dlt~ect, unW thls MortgaQe ia satistied. ~ Renewal policies ot insurance. premiwns tor which have been fully paid. are to be futnW~ed to the Mortgsgee at least Htteea days prior to the exp[raUon date of the insurance therPby renewed. The lnsurenoe shall be wr(aen 1n companies ! sppm~ed by the Mortgagee; in no event shall the Mortgagee be Aeld rrspon4ible for failure to pay for any insurance ~ written or for any loss or damage gwwtng out of a detect in any po8cy or growing out of any tailure of any insurance E company to pay tor any lass or damage insured agdns~ In the event of lws the Mortgqgor shall give lmnnediate noUce ~ by mail to the Mortgagee who may make proof of loss it not made pmmptly by the Mortgagor; each insurance company ~ rnncerned ia _ hereby authorized and directed to make payment for loss d(rectly to the Mortgagee instead of to the Mort- gagor and the Mortgagee ioinUy; the insurance proceeds~ or any part thereot. may be applled by the Mortgagee~ at its ~ option, to the expensea, if any, lncurred by it [n the rnllection thereof. to the reduction of the indebteduea hereby se- ~ cured, to the restoratfon or repatr ot the property damaged, or released to tt~e Mortgagor without lisbWtq upon the Mort• E gagee for suc?~ releax. All poUciea ot Insurance are hereby assigned to the Mortgagee as additional securltq for the pay- ment ot the sums and interest secured hereby; fn the event ot foreclosure of this Mortgage or other t.ansier of tltlo to the d premises in extinguishment of the indebtedness, ali right, tltle and Interest o[ the Mortgagor in a.~9 to any insurance _ policies then in forre shall pass to the puc+cl~aser or grantee. 4. To complete within a~raaonable time any building or buUdings now or at any Ume !n the process of erecdon upon t6e land and to prompUy repaSr, reatore or rebulld any bullding or improvements now or hereatter on the land whlch may become dama~ed or De destroyed, and not oommlt or permit to be done or exist on or about the premSses anything ; whereby the premisa shall become less valuable• to comply with all lsws, rules, regulaUons, or oMinances o! any govern- ' mental agency and not violate or permit the vtolatlon aa to the pcemises ot any buliding or uie teatrictlons; to keep the land and impmvements thereon free trom mechantc'a and mateMalmen'i itens and wW not suffer any llen mperlor to the lien created Dy this tnstrument to attach to or be enforced against the premises. S. II detault be made In the payment o[ taxes, ssse~ments, llens, clalms„ insurance premiums or any other charge . ~rhatsoever, or anq part thereof, or tn the pertormance ot any ac~ to be pald or pedormed by the Mortsasor under the ; Pmvitlons Aereot. tl~e Mort~ee may. at f4 opUon, make pe~yment thereo! or pertorm anr act requiced oi the Mort~ator In ~ny lorm or manner deemed expedlmt and p~y any other sum that is nece~arp to pmtect t,he secudqr ot thL instiv. = ment; tAe unoun4 ao p~ld. wiN lnterest tAereon trom t!?e date of such payment at the same rate a~ porne p~ the prin_ ~ cipal IndebtMnea, sDa11 be a~sered as an ~ddiUonal llen on the premUes and shall be ~dded to aod b~ooine a part of tlfe lndeDtednes iecured herrDr and be immediately due aud payable to the Mort~ee. My payment btrebr autlwrlsed to pe made br th~ Mortsasee mty be made accordlns to any bW~ statement or estim~te turnl~Ik.d or pmcured fran We ~,ppen. prlate puWlc o~lce ar tbe putr cWmins payment wiUwut irpulry into the aceuracp or valldlt~r th~reo[, sod th~ rsceipt at ~ny puDlk o~feer or partr in the Aands ot the IKort~ee sAall be conclu~lve evldenot oI tl~e vallMq~ ~d ~mount ot ltems ; ~o pafa• the Mort~ee sAall. ~t fL optfot~, be suDm~ated to ~ny encumbru~ce, Ileo, clalm oe deawiA. and to W tM rf~tt - aad wrudtlcs tor tht pa~ment thereof. Dald oe df~char'ted w1tA the Princlpal sutn a~cured Aerebp or bp t!w Itortp~~e uu8~r tM pro~ridom Dte+eM. and any wch w~bt~aUoo clsbts ~Aall be ~ddltlaW aod cumulatiw s~eurfl~r to thl~ l[ort- i~• a~~ 170 ~~E 1U09 ~ `r Y r - ~ t..:~= ~'T •s ' ' _'~3~s.~ `s _ a> ` ~ _ . X "