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HomeMy WebLinkAbout2247 ot the Mortgngee become immediately due snd payable, without nodce, and proceedings may be tnsUtuted by the Mort- ~ gagee for the recovery thereot by foreclosure of thls Mortgage. or ln any other manner permitted by law as the Mort- gagee may elect, a~ythin~ in the note or in thls Mortgege oontalned to the oontrary thereto notwiWtanding. Upon fore- closure of thia Mortgage, the Mortgagee Mall be allowed as a psrt o1 the lndebtedness secured hereby, and the Mort- gagor agrees to pay. all costs and expenaes incurred !a connection therewith. lncluding reasonsble attorney's fees, cost ot _ f title and tex search and the extension to date oi an nbstract ot title or Utle pollcy; and !n caae sucl~ foreclosure procced- ings are setUed before the consummation thereoi or the entry of iudgmeat, any such costa and expenses and other charges so Incurred. lncluding s reawnable attorney's ice, shall nevertheless be pafd. TAe Mortgagee or e~qy parly in fn- ternst. betng the Nghest bidder. may be s purchaser at any forecloaure aaJe. Any election by the Mortgsgee as herein pro- vided for may be exerclsed lmmedlately upon default, or at any tfine therea[ter. and notl~[ng shall be conrtrued to be a waiver oi auch rlght unless evldenced by an instniment in wdting to that effect duly executed by the Mortgagee. The Mortgagor walves all zight of homestead snd exemption Qrsnted by the ConstltuUon and I.sws ot Florida. AND THE MORI~GAGOR FUATHEK CONVENANTS AND AGAEES: 1. To pay the pr[nclpal indet+tedness wlth intereat as in the note pmvided. To pay monthly unto the Mortgagee~ tn addlUon to and at the Wne and place tor esch payment of pdnctpal and lnterest. an instellment oi each oi the follow- 1ng charges: <a) Taxes and e~ssesstnenta, 8enersl or apecial. and all other charges levied or to be levied against the premLses. (b> Premiums to become due and psyable for. and to renew. the lnaurance on the premises against lues by Sre and such other hararda. cASUaltlea and conUngencies as herein proWded for or required from time to time. The amount oi the respective monthly? insta111i?ents shall be equal to the amouat ot the annual reapectlve charge next due (as eatimeted by the Mortgagee). ldas all inatsllmenta alceady paid therefor. divtded by the number oi monthly in- stallments therefor becoming due not later than one month prlor to the due date oi any such charge and aMll be sub- iect to increaae or decreaae to the extent required to create as oi a monthly psyment date on the note not les4 than one month prior to the due date oi any such charge. sn amount suHicient Lor We pqyment thereof when due and payable. In no event shall the Mortgagee receiving such payment be llable for any lnterest on any amount paid to 3t as herein required, and tRe money ~o received ma~y be held with its own funds pending paymeat or appllcsUon thereof as herein pmvided. The Mortgagor shall furnish unto the Mortgagee at leaat Sfteen days before the due date an oIIicial statement oi the amount oi any taxes or aseessmeats next due. and such Mortgagee shall pay the above charges W the amount of the then unused crPdlt therefor aa and when they become severally due and payable. The Mortgagee may. at its option. pay any oi such charges when payable. either before or atter they are delinquent, without noUce. or make advances Werefor in eacceas oi the then amount oi credit for said charges. The excess amount advanced shall be immediately due and payable to the MortB4gee and shall be secured as an addidonal prindpal sum uader thii inatrument and besr the same rate ot interest from date oi advancement as the piinciPal lndebtedneas. An official recelpt therefor shall be rnnclusive evidence of such payment and of the validity of such charges. The Mortgagee may apply credits held by it for the above charges. or any part thereot. on account oi anq delfaquent iastaliments of prindpal or fnterest or t~ny other payments maturing or due under thta instrument and the amount ot credit existing at nny time shall be reduced by the amount thereoi paid or applled as herein provided. The amount of the existing credlt hereunder at the Ume oi any transter of the property shall wlthout asgignment thereoi inure to the bene8t oi the suocessor owner of the property and shall be applied under and subject to all of the provLsions hereoL Upon the payment in full of the indebtedneaa, the amoant of any unused credit shall be applfed to the payment thereoi. The Mortgagee may collect a"late charge" not to exceed four ceats (4c) foY each one dollar <i1.00) oi each monthly lnstallment payment required on the note and under tbLs Mortgage which is more than flfteen (15) days in arreais, to cover the extra expense lnvolved in handling delinquent pe~yments. 2 To pay. when payable. all taxes and assessments. general or speclal. water rents and ground renta and all other charges whatacever levied upon or assessed or placed against the premises. proviston for wWch has not been made here- inbefore. and wW pmmptiy dellver the oaielal receipts therefor to the Mortgagee; to lilcewise pay all talces„ a~nents and oNer charges. levled upon or assessed. placed or made against this instrument, or the indebtednesa or any interest oi the Mortgagee in the premises or the obligations secured hereby. provided that We payment of any such tax a~ess- ~ raent or charge by the Mortgagor is not rnntrary to law or would not result in the psYment oi an unlawtul rate of lnter- est on the indebtedness herebq secured. In the event oi the passage after the date of tAis instnunent oi anq law of the ' State, or subdivision thereof. wherein the premises are situated. creating or pmviding for any tax, essc~snent or charge which by the above proviso is not to be paid by the Mortgagor. the indebtedness secured hereby together with interest due thereon. shall, at the option of the Mortgagee, become immediately due aad payable. and in the event payment there- o! b not made forthwith, the Mortgagee may take or cause to be taken such actlon or proceeding as may be taken here- ~ under in the caae of say other deisult in the payment oi the indebtedness. ~ 3. To keep the buildings and additions thereto on or hereafter erected or placed upon the land insured againat loss by fire and such other hazards, ca4ualties and contingencles, including war damages ii at any time a atate oi war e~dsts or 1t appears to the holder oi the note that war is imminent, and in such amounts and for such periods, as may be required irom time to ttme by the Mortgagee, and to pay pmmpUy when due all premiums on such insurance. provision for pay- ment of which has not been made fiereinbefore. The policies oi insurance ahall have loss pqyable provlsions acceptable to ~ the Mortgagee and shall be deIIvered to and held by the Mortgagee, or aa it may dlrect, nnt11 thls Mortgage is satisfled. Renewal policIes of insurance~ premiums for which have been fu11Y Paid. are to be furnished to the Mortgagee at least Siteen days prtor W the expiration date of the insurance thereby renewed. T6e insurance shall be written in companies approved by the Mortgagee; in no event shall the Mortgagee be held responsible for failure to pay for any insurance written or for any loss or damage gmwing out of a defect in anq poliry or growing out of any fallure oi any inaurance company to pay for any loss or damage Insured agains~ In the event of loas the Mortgagor shall g(ve imanediate notice by mail to the Mortgagee who may make proof of loaa i[ not made prompUy by the Mortgagor; each insuranoe company rnncerned la. hereby authorized and directed to make payment for los4 directly to the Mortgagee lnstead of to the Mort- gagor end the Mortgagee fointly• U?e insurance proceeda~ or sny part thereof. may be appUed by the Mortgagee, at its option, to the expenses, if any. incurred by it in the collecUon thereof, to the reducUon of the indebtedneas hereby se- cured. to the restoration or repair oi the pmperty damaged, or released to the Mortgagor without llabillty upon the Mort- gagee for such release. All policles of insurance are hereby assigned to the Mortgagee as additlonal security for the pay- ment oi the sums and interest aecured hereby; in the event ot foreclosure oi thls Mortgage or other trsnster of tltla to the premLses in extingWshment of the indebtedness, all rlght, title and interest of the Mortgagor in and to anq insurance polidea then in torce shall pass to the pnrchaaer or grantee. 4. To complete within a reasonable time any building or buildings now or at any t[me 1n the process oi erection upon the land and to promptly repair, restore or rebuild eny building or impmvementa now or hereatter on the land which may beoorae damaged or be destroyed, and not oommlt or pennit to be done or exist on or about the premises anythtng whernby the premisea shall become less valuable; to complq with all laws. rules, regulaUons, or ordinances oi any govern- mental agency and not violate or permit the vfolaUon ea to the premL9es of any bullding or uae resir[etions; to keep the Lnd and improvements thereon lree irom mechaniNs and materieimen'a Ifens and wlll not su2[er anq Hen supedor to the ~ lien created by thls instrument to attach to or be eniorced against the prnmises. ~ 5. It detault be made in the payment oi taxes, assessments. lleas, clafma. insurance premfums or any other charge ~ whatsoever. or any part thereof. or in the pertormance of any ac~, to be paid or pertormed by the Mortgagor under the provldons hereoi, the Mortgagee may. st Ita option, make payment thereoi or perform any act required ot the Mortgagor ~ in any form or manner deemed expedient and pay any other sum that b necessary to protect the aecuriqr oi tlifs lnstru- ment; the amounts so paid. with lnterest thereon lrom the date of auch payment at the ~ rate es borne by the prin- ~ cipal indebtednen, :hull be assested as an additional i[en oa the premlaea and shall be added to and beoome a part ot the ~ iadebtedneas eeeured hereby aad be immediately due and payable tc, t~e Mortgagee. My pqyment Lereby authorized to be ~ ma8e by tLe Mortgagee msy be made accoraing to any bW. statement or eatimate furnls6ed or pmcured irom tt~e appro- , prlate pubIIc office or the party claiming payment without lnquirq Wto the Accuracy or valldity thereo~,. and the recefpt of ~ eny pubDe oIDoer or party in the hands oi tl~e Mortgagee abali be conclus(ve evidence oi the validity and amount oi iterm ~ ~o paW: the Mortgagee shall. at ita opUon, be subrogated to any encumbrance. lleq claim or demand, and to all the rl~hb ~ and ~ecudtles for the psyment thereof, patd or dlscharged wlth the principal sum ~ecured hereby or by t6e Mort~a~ee ? under tl~e pravWons hereoi. and aay wch subro~atfon rtghta slull be addiUonal ~nd cumuLtlve ~ecurtt~ to thts Mort- ~age. ~ ~ ~ OooK 17~ PACE 2240 ~ ~ - ~ ~ ~ , _ ~ ~ _ _ _ ~y~ 3.~` _ "e ~ _ . ~