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Home My WebLink About0506 ? i ~ • . f ot tAe Mort~a~ee become luunedlately due aad payable. without aoUce. and prooeedin~s may be instituted by the laort- ~ee for tAe reoovery thereot by lon~cloaure ot this Most~e. or in any other manaer permitted b~? Lw as ths Mort- ~agee ma4y elect, anythla~ W the note or in thls Mo:~.~e~a oontained to the ooatrary thereto notalWt~adlo~. Upou iore- cloaure oi thls Mort~~e. tLs Mort~a~ee shaU be allowed n a part ot the indebtedneas aecured Aereby. aad the Most- ~agor a~rees to p~y. W cosb and expenses lncurred ln conneeUoa thereaitb. iacludin~ reasonable attorne~r'~ iep. oost of tfUe sad tax aearch and the extenston to date of aa ai;dract oi title or tlUe pellq; and fn cue suoh ioreclosure proceed- ings are settled before the consummation thereof or tha entry oi iudgmen~ any such casts aad expena~ and other char~es so iacucred. inciudln~ • reasanaWe aUorney's fee. shall nevertheleu be paW. Tbe MoitQa~ea or W p~rty fa In- teirst, bein~ the hlghat bldder. may be a purchaser at sny foreclosure sale. My electio~ by tbe Mort~a~ee as hereln pro- vided for rpay be exerclsed ima~ediate~y upon default, or d any tlme tAereatter. and notliln~ sl~all be~ co~u~ to be • waiver ot ~ucA iigbt unless evldenced by aa iwtrumeat in adting to that ei[eM duly euecuted by the Mort~agee. The MortQaQor wdves all ri~ht ot 2amest~ad ~nd exemptiaa sranted by the Constttution and Lws of Florida. AND THE MOR'PGAGOA FURTHEA CONVENANT3 AND AGREFS: 1. To pay the prindpsl indebtedaeaa with interest as W the note provlded. To p,y moatt?~y unto the MortB+~B~. in eddiUon to and at the tlme and pLce for esch payment oi princlpal and lnterest, an lnstaliment ot each M the follow- ~118 C~l'BCi~ Ta~ces and asaesa~nenta. generai or special~ and ell other cbarges levied or to be levled against the premises. (b> Premiums to become due end pqyable for. and to renew. tt~e lnsarance on the premisea against loas by 8re and aucb other haurds. caswltbs and con~ ~s hereln provided for or required irom Haie to tlme: The amount of the rPSpectlve manth~j? ln:tallmenb ahall De equal to the amount oi the annual reapective chuge next due <as eaUmated by tde Mortga~ee). le~s all instalirarnts ~IceaQy paid thenfor. divided by the number at montNy in- sWlmenb therefor beoomtng due not later tbaa ane moath prbr to the due date oi any such cbar~e aad shall be sub- ject to fncrease or decreese to tt?e extent required to create as oi a moath~y p~y~nent date oa tLe note not leas than one month prior to the due date of eny such eharge. an amount su~cteat for the pa~yment thereof when due and pqyable. In no event shall the Mortgagee reoelving auch payment be llable tor aay interest on aa~? amount paid to [t as hereln requtr~ed, and the money ao reoeived may be held with its own fundi pending psyment or appHcatian thereof es hereln provlded. The Mortgagor shall l~rnlsh unto t1~e Mortgagee at least ntteen days betare the due date aa official ststement oi the amouat oi any taxes or as~sments nezt due. snd sucII Mort~a~ee shW pay the abave char~es to the aaaount oi the t~en unused credit therefor as and when they become severaIIy due and p~yable. TAe Mortgagee may, at its optlon. pe~y any oi such chuges when psyaWe. dther Defore or atter they ~re deW~quen~ without notice. or make advances therefor fa excea~ oi the then anoount oi credlt for s~W chsrges. The ezee~ amount advanced sAW be innmedistely due and payable to the Mortg~gee and shall be ~ecured as an addiUon~l prtndp~l wm under tNs instrument aad bear the same rate o! interest irom date oi advanoement as the prlacipl~l lndebtedness. Aa oIDcial recdpt fherefor shall be conclws[ve evldence oi wch pqyment end oi the vaUdity ot such charges. The Mortgagee ma,y appb? credita held by it for the above ~ charges, or any part thereof~ on aocount oi any dellnquent installmenb of prindpal or interest or any other payments ~ maturing or due under this lastrument and the amonnt of credit eaisting at anY time shall be reduced Dy the amount tleer~of oaid or applled as herein provided. The amount of the exlsttng credtt hereunder at the tlme of aq~ transfer of the ' Property shall without aasignme~nt tliereoi inure to the bene8t of the wcoesaor oamer oi the property and s1?all be applled ; under and subject to ell oi the provlsions hereoL Upon the payment fn full oi the indebtedneas, the amount oi any ~ unuae~l credit shall be appli~eed to the payment thereoL The Mortgagee may collect a"late charge" not to ezceed iour cents (4c) foi each one dollar (=1.00) oi each monWy lnstallment payment requlsed on the note and under thls Mortgage which is more than 8iteen (15) days in arcears, to caver the extra expense involved ln handling delinquent payments. 2 To pay. when p~yable. all taxes and ass~nents. general or speclal. water rents and ground renta and all other chargea whatsoever levied upon or asseased or placed aBainat the premisea, pmviaton for which haa not been made here- inbefore, and wlll promptly deliver the ofticial receipts therPfor to the MortgaQee; to likewi~e pay aU taxes. aseamnents and other cLarges, levled upon or assess~d. placed or made against thls inatn~rt?en~ or the indebtednesa or any interest oi the Mortgagee in the premlaes or U?e obligations secured hereby. gnivi~=.rau ii~at the psyment of any such tax assess- ment or charge bq the Mortgagor ts twt contrary to law or would not result in tlie pel?ment o! an unlawful rate oi inter- est on the indebtedness hereby ~ecured. In the event oi the passage after the date oi tWs instivment of any law of the State. or subdivlaion thereoi~ wherein the premtses are situated, creating or providing for any tax. ~nent or charge which by the above proviao ia not to be paid by the Mortgegor, the indebtedness secured hereby together with interest due ? thereon. shall, at ~e option of the Mortgagee, become immediate~y? due aad payable. aad in the eveat payment there- i of b not made forthwitlr, the Mortgagee may take or cause to be taken such action or proceeding aa may be taken here- ~ under in the caie oi any other defauit in the payment oi the indebtedness. j 3. To keep the buildtngs and additions thereto on or 2?ereafter erected or placed upon the land inaured againat loas ' by ~re and such other hasards. caaualties and contingeadea, lnciuding war damages it at any time s atate oi war exists or > ~ it appeara to the holder oi the note that war is imnninent~ and in such amownts and for such perlods, as may be requlr~l • ; lrom Ume to time by the Mortgagee. and to pey pmmptly vPhen due all premiums on such insurance~ pmW~ion for pay- E ment of which has not been made hereinbefore. The polides of insurance s6ali have laas pa~yable provl~ accepteble to ~ the Mortgagee ead at~all be deIIvereB to and held by the Mortgagee.~ or as !t me~y direct. unttl this Mortgage is satisged. ; ~ Renewal poHcies of insurance. premiums for whtch tuve been lully .paid, are to be furnished to the Mortgagee at leaat ± ~ niteen days prior to the expiration date of the inaurance tLereby renewed. The inwranoe shall be wrltt~ in companies approved by the Mortgagee; in no event shall the Mortgagee be held rtspondble tor falhu+e to pay for any insursnce wrltten or for any loss or damege gmvving out of a defect in any pollcy or ~rowing out M any failure of any insurance oompanq to pay for any loas or damage insured agatn.s~ In the event of loss the Mortgagor ahali give lmmedfate notice by mail to the Mortgagee who msy mahe proof of loas lf not made promptly by the Mortgagor; each insurance company oonceraed is.hereby suthorl~ed and directed to make payment for laaa directly to the Mortgagee instead o! to the Mort- ga~or and the Mortgagee iofnUy; the insurance proceeds. or aqy part thereof. may be applted by the Mortgagee~ at its ~ option. to the expenses. if any, incurned bq k in the collectlon thereof. to the reduction of the indebtedneas bereby se- cured. to tLe reatoratton or repafr of the pmperty damaged, or released to tl~e Mortgagor vvithout liability upon the Mort- gag~ fa: auch release. All poHdes of lnsurance are hereb}? assigaed to tue Mortgagee aa addiUonal secudty ior the pay- ment oi the sums and interest secured hereby; in the event of forecloaure of thb MoKgage or other transter oi tlUa to the premises in extinguishment of the indebteduess, all rlgh~ Utle and interest of the Mortgagor in and to any inwrance polldes then in force shall pass to the purchaaes or grantee. ~ 4. To ooanplete aithin a reasonable time anq buiidtug or bnildings now or at any time 1n the prooess of erection upon ~ tLe land and to pmmPtly repair. reatore or rebulld any bullding or impmvementa now or hereaiter on the laad wrhlch anay become damaged oc be deRmyed. a~ not oommit or permlt to be done or eadst aa or about the premisa anything whereby the prea~isa shall become le~ valuable; to ownply with all laws. rules, regulaUons. or ordinances oi any govern- ~ mental agency and not violate or perarit tbe violaUon as to the premises oi any bullding or use restrictiom; to keep the Lnd and lmpravenneats thereon iree irom mechaniNs and matertalmen's llens and will nat sulCer any llen superior to the ~ ifen created by this lnstrumeat to attach to or be eniorced against tlie premises. ~ ~ 5. ~ It deLult be insde in the payment ot taxes, a~seasrnents, llens. clatmt, lnsurance premiums or aay oU?er charge whataoe~ver~ ~+mY psrt thereoi, or in the perlormance oi anY +?M. to be paid or pedormed by the l[ort~agor under the ~ ~ provWons hrreoi. tlie Mortgsgee may. at t4 optlon. malce pe~yment thereof or pertorm any act required o[ the Mortgagur : in aoy lorm or manner deemed eupedient aud pay any other sum that 1s aecessary to protect tLe securlty oi t2ds lnstru- "s ~ meat; the amoants so Pdd. wlth iaterest thereon ~om tLe date oi such p~yment et the pme rate as borne by the prla- e ~ ctpal indebted~eea~, sbW be as~dsed as an add[tlwul Hen oa the premises and ahW be a8ded W and beoo~me a part oi the # Indebtedneas ~ecured hereby and be immediately due and psyab4 to the Mostgagce. My payment bereb~ authorl~oed to be made by t~ Mort~ee may be msde scoording to a~ b111. statement or estlmate furnlsbed or procured irom tl~e appro- # prlate publle o~ks or tbe P~7 P~,Yment witboat iaqutry into t1~e accurac~? or vaUdttp thereo[, ~nd tbe reoeipt oi ~ ~ wW: ~We ~ort~ee~s6a11~, st~its~on b~e ~ bro~tea to~.ny~e.ncu~mb~oe~ife~cla m a~e ~ s~na to~annt~ il~b ' ~ and ~ecurlties for tLe p~yment thereo~ paW or dischar~M ~vfth the princtpal sum accured henb~? ~ b~r ttie l~o~rt~ee ~ ~ nnder t~e pi+o~vLlom l~ee+eo~ and an7 wch subru~at1on rl~ht~ shali be ~ddit1ona1 aad cvmulatlve ae~utlt~ to ta1s y[ort• ~ ~ pse. 7 ` ~ 800K ~ ~ PACf 5~6 ; 3 : - - ~ ~ r~..~~~,,, - - - ~ x_ . ~ _