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HomeMy WebLinkAbout2057 ; ~ _ ~ of the Mortgagee become immedtately due and pnyable, without noUce. aad proceedings may be 1aaUtuted by the Mort- gagee for the recovery thereot by foKClosure of Ws Mortga~e. or in aay other manner peraaitted Dy Uw as the Mort- gagee mqy elec~ anythtag !n the note or in thls Mortga~e oontalned to the ooatraiy thereto notwlthst~ndln~. Upon fore- closure oi tt~ta Mortgage. tAe Mottga~ee shall be allowed as a part ot tAe lndebtedness aecured hereby. and the Mort- . gagor agrees to pqy. W caats and expenses lncurred in connecUon therewlth. lncluding reasonsble sttorney'a fees„ coat ot tltle and tax searcli and the extension to dete of an abstract of title or title policy; and 1n cese such toreclosure proceed- [ngs are setUed before We consummation thereof or the entry ~t iudgmen~ any auch caats and expensea and other charges so Incurred. lncluding a reasonable attorney's fee. shaU nevertheleas be psid. The Modgagee or aqy party in in- terest, being the highest bldder. may be a purchaser at any forecloaure sale. Any election by the Mortgagee as herein pro- vided for may be exercised lmmediately upon default~ or at any Ume thereefter. and nothing shall be constived W be a waiver of such right unlesa evidenced by an instrument in writing to that effect duly executed by the Mortgagee. Tde t Mortgagor wdves all dght ot homestead and exemptlon grsnted by the Conatitution end I.aws oi Flortda. ; AND THE MOR'PGAGOR FURTHER CONVENANlS AND AGREES: ! 1. To pay the prlncipe?1 indebtednes4 wltR interest as in the note pmvided. To pay monthly unto the Mortgagee. ; [n addiUon to and at the time and place for each payment oi prlnclpal and intereat. an installment of each of the follow- ing chargea: (a) Taxes and aasessments, 8eneral or apecial. and all other charges levied or to be levied againat the premiaes. (b) Premiums to become due and pnyable for. and to renew. the insurance oa the premiaes agatnst lom by flre and auch oWer ha7srds, casualties and contingenctes aa herela pmvided for or requtred from time to tlme. The amount of the respective monthly instnllments ahall be equal to the amount of the anuual respectlve cMrge next due (as est[mated by the Mortgagee). less alt inatallments already paid therefor. divided by the number oi monWy in- staliments therefor becoming due not Lter thatt one month prlor to tt?e due date of any such eharge and aball be sub- ject to lncreaae or decreaae to the extent required to create a4 oi a monthly payment date oa the note not less then one month prior to the due date ot any such c.harge. an amount sutficient for the psyment thereof when due and payable. In no event shall the Mortgagee recefving such payment be liable for any interest on any amount patd to it as herein required. and the money so received ma~y? be held with 1ta own fundi pending psytnent or appllcaUon thereoi as hereln provided. The Mortgagor shall furnlsh unto the Mortgagee at least Stteen days before the due date an official statement of the amount oi any taxes or a~nents next due. and such Mortgagee shall pAy the above charges to the amount of the then unused credit therefor aa and wren theq become severally due and payable. The Mortgagee me~y~ at its option. pay any oi such charges when payable, either before or aiter they are delinquen~ without noUce. or make advances thereior in excess of the then amount oi credit for aaid chsrBea. The exoeas sawunt advanced shall be immeuiately due and payable to the Mortgugee and ahall be secured as an additlonal princlpal sum under this Inatrument and bear the same rate of lnterest irom date of advancement as the principal iadebtedneas. An oQicial receipt therefor shall De conclusive evidence ot such payment and oi the validity of such charges. The Mortgagee m~y app~j? credits held by it for the above charges. or any part thereof. on account o! any delinquent installments oi prindpal or interest or any other payments matur[ng or due under thia instrument and the amount of credit existing at anY time shall be reduced by the amount thereof paid or appHed as herein provided. The amount oi the existing credit hereunder at the time oi any transter oi the property shall without assignment thereof inure to the beneflt of the succeasor owner of the pmperty and shall be applied under and aubject to all of the pmvisfons hereoi. Upoa tt~e payment in full of the indebtednesa, the amount of any unused credlt ahall be applied to the payment thereoi. The Mortgagee msy collect a'9ate charge" not to exceed four cents (4c) for each one dollar (i1.00) of each monthly installment payment requlred on the note and under tlils Mortgage which is more than fltteen (1S) days in arc^ears. to cover the extra expense involved in handling dellnquent payments. 2 To pay. when payable. all taxes and asseasments. general or special. water renta and ground rents and ali other chargea whatscever levled upon or assessed or placed against the premises, provision for wWch has not been made here- inbefore. and wW prompUy deHver the o8icial recefpts therefor to the Mortgagee; to Wcewise paq all taxes. asses~smeata and other charges. levied upon or assessed, placed or made against this instru~lnent, or the indebtedness or any interest af the Mortgagee fn the premiaes or the obligatfona secured hereby. pmWded that the payment oi any such tax assess- ment or cherge by the Mortgagor is not contrary to law or would not result in the peyment oi an unlawf~il rate oi inter- est on the indebtedness herebq secured. In the eveat oi the passage atter the date ot this instnunent oi anq law of the State. or subdivtsion thereof. wherein the premises are aituated, creaUng or providing for any tax, asseas~nent or charge which by the above proviso it not to be pa[d by the Mortgagor. the fndebtedness aecured hereby together with intereat due thereon. shall. at the option oi the Mortgagee, become immedlately due and payahle. and in the event payment there- oi 1s not made forthwith, the Mortgagee may take or cause to be taken such action or proceeding as may pe taken here- under 1n the caae oi any other default in the payment oi the indebtedness. 3. To keep the bulldInga snd addlUons thereto on or hereafter erected or placed upon the land insured against loss by fire and such other haznrds, casualties and contingeacies. including war damages if at any time a atate of war exists or it appears W the holder of the note that war is imminent, and in such amounts and for such pertods, as may be required irom tlme to time by the Mortgagee, and to pay pmmpUy when due all prem[ums on such insurance, pmvlsion for pay- ment of which has not been made hereinbefore. The polides oi insurance shall have loss pt~yable provlalons acoeptable to the Mortgagee and shall be deltvered to and held by the Mortgagee, or as it may direct, unW this Mortgage is aatisSed. Renewal pollcIes of insurance. premiums for which have been fully paid, are to be iurnished tp the Mortgagee at least Sfteen daya prior to the expiration date of the insurance thereby renewed. The lnsurance ahall be wrltLen in companies apprnved by the Mortgagee; in no event shall the Mortgagee De held responsible for fellure to pay for any insurance wrltten or for an~r loss or damage growing out of a defect in any poHcy or growing out of any fallure oi any insurance company to pay for an~oss or damage insured against~ In the event oi loas the Mortgagor ahall give immediate notice by mail to the Mortgagee who may make prooi oi loss if not made prompUy by the Mortgagor; each insarance company oonceraed is. hereby authorized and directed to make payment for IoBS d[recUy to the Mortgagee lnstead of to the Mort- gagor and the Mortgagee ~ofntly; the insurance procceds, or any part thereof. may be applled by the Mortgagee, at its option. to the expenses, if any. lncurred by it tn t~e rnllection thereof. to We reducUon oi the indebtedness hereby se- cured, to the restoratlon or repair oi the property damaged, or released to the Mortgagor without HabIDty upon the Mort- gagee for such relea~e. All pollcies of fnsnrance are herebq eastgned to the Mortgagee a4 additional secudtq for the pay- ment of the sums and intereat secured hereby; in the event ot foreclosure oi thls Mortgage or otlrer transter ot tltlo to the premises in extinguW?ment of the indebtedness. all rlght, tltle and interest of the Mortgagor in and to any inwrance policies then in force shall paas to the purchaser or ~antee. 4. To complete within a reasonable time any butlding or buildings now or at any time I~t~r prooess oi erection upon We land and to promptly repair. reatore or rebufld any build(ng or improvementa now or hereafter on the land whlch maq beoome damaged or be deatroyed, aad not commlt or permlt to be done or e~dsf on or about the premises anything wherebq the premises ahall become lesa valuable; to comply with all laws. rules, rPgulaUons, or ordinances of any govern- mental agency and not v[olate or permit the violaUon aa to the preml9es oi any building or uae restrictions; to keep the land and Improvements thereon iree imm mechaniNs and materialmen's llens and arlll not auffer any Hen supedor to the lien created by this lnatrument to attach to or be entorced against the premises. 5. If deiault be made [n the payment of taxes, asaessments, llens, clsims. insurance premiums or any other charge whatsoe.wer. or anq part thereof, or in the performance oi any act, to be patd or performed by the Mortgagor under tbe pmvidons hereoi. the Mortgagee may. at its optlon, make peyment thereoi or pertorm aay act requlred oi the Mortgagor In anq form or manner deemed expedieat and pay anq other sum that 1s necestary+ to protect tLe secudtq oi tAfs instru- ment; the amounts so patd. wlth interest thereon trom the date of such payment at t6e ~ rate as borae by the prln- dpal lndebtednear. sball be ass~sed as en additional Len on the premisea and shall be added to aad beo~me a psrt oi the lndebt~dneas secured hereby and be immediatelq due and payable W the Mortgagee. Mq payment hereby auUwrlxed to be made by the Mortgagee may be made according to anq bill. statement or ~timate lurnWied or procured irom the appro- prlate publlc oQioe or tLe party clalmin8 payment without inqutry into the accuracy or validity thereo~ and tLe receipt of any publlc osloer or party in the hands of t6e Mortgsgee sball be conclualve evidence ot tbe validity and amount M items w pa(d: the Mortgagee shall, at its opUon~ be subrogated W anq encvmbrance. IIen, claim or dcrosad, and to a11 tbe rights and secudties for the payment t6ereoi, paid or dis¢harged wtth the principal wm secured hereby or b~? tbe l[ortQa~ee under tUe prariatons hereot. and aay such subrogation rfghts ~aU be addttional and cumulatlve secudt7 to tbfs Mort- ~S~• a~R 1?0 ~ 2051 ~ t ~ ~ ~ ~ ~ ~