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Home My WebLink About1974 . ~ ' - ot the Mort~a~ee become Imraedlate~y due and p~yab10. ~~ut noUce. and proceedln~s auy be lnstituted by the 14ort- ~ee tor tt~e reco~rei'Y thereoi by iorecloaure o~t thls Mort~e. os W aqy other a~anner percaitted b7 law as the Mort- ~agee may elect. ae~ythtn~ !s the note or fn thfs Mort~a~e oontafned to the oontnr~? thereto notwithstaadtn~. Upon fon- doaure oi this Mort~+~e. t6e Mort~aQee sAail be allowed as a part oi t~ae indeDtednas sec~tc^ed herebY. and the Mort- ~agor a~grees to pp?. all cosfs aad expensea fncurred in ooanecUon therewltA. fndudtn~ re~soaable attorneYa hes. oost ot tltle and tax aeacch ~nd the extenston to date ot an ~bstsaM oi title or UW Dol1~Y: and 1n c~se wch foe~xlasure prooeed_ e~ so incure+ed. f~nclu ~tion tbereoi or tl~e ents9 oi ~u48~?~, +mY wdt oosf~ aud axpen~s aM other dins • rea~w~able attorney's tee. ~au nevertnelea~ be paW. ~e ~tort~a~ae or w W~rU? in it?- terest. btin~ the Ligbest bWder. m~y be a purchassr at an~ foreclosure sale. At~ electica by th~~ HOrt~l~ee es bereln pro- vided for may be exerclsed inannediately upon detaul~ or at any tlme thereafter. aad nothin~ sball be ooasteued to be a walver of snch rlght ualess evldenced by an lnstrument in wdtla~ to that eQect duly e~cecuted Dy tLe y[o~t~agee. The Mortga~or wdves all ri~ht of homestead and exemptlan sranted by the Conrtitutloa ~nd Laws ot Florlda. AND THE MORI~GAGOR FURTHER (7~NVENANIS AND AGREES: i. To pay the pr[ndpal indebtedaess wlth interad as in the note Provlded. To p~y montl~? unto the Mortgagee. in addiUon to end at the Ume end place for each p~yment oi prindpal and iaterest. an installment a~ each oi the follow- 1n8 cM~s: <v Taxes and ~aseas~nents„ ~erat or specW. and all other char~es levled or to be levied aQainst the premi~es. (b> Prea~tums to becotne due aad pRysbk for. and to renew. the insurance on the premises agalnst loa by IIre and auch other harard~„ canultles and oontln~eades as herefn provtded for or requlred from tlme to tlme. The amount of the respective monthl~? installments shall be equal to the amount ot the amusl rapect[ve chsrge next due (as esttmated by the MortQe~ee). le~s W indallmea4 already paid theretor. divlded by the number a[ monthty ia- st~llmeab tLerefor beoomin~ due not later tban one month prbr to the due date of aqy such cl~at~e and shall be aub- 3ect to increase or decrea~e to tAe exte~t re~luired to cnate as oi a montNy payment date on tbe note aot las than one month prlor to the due date o! any such cbarge. an amount au~cient for the pqj?ment thercof when due and p~,yable. In no event ahall the Mort~agee reoelving wch psyment De liable for aay interest oa~ any amount paid to It as herein re9ulred. and the moneir su reoelvcd mqy be held with ib own funds P~~B P~?ent or applicatioa tt~ereoi aa here[n provlded, The Mortgagor shW turntah unto the Mort~agee at least Siteen dsys betore the due date an o~icisl statement ot the amaunt oi any taxes or at~ea~nenta next due. and sucL Mort~a~ee shall pa~ the abane char~es to the amount oi the th~ unused credit therdor as and whes? WeY 1~eoome severaUy due and p~yable. The MortBagee m4Y. at its opUon. pe~y aay oi such chRrges when p~yable. elther before or atter they are delin~quen~ althont nottce. or make advancea therefor in exce~s ot the then amount ot credlt !or pid eMr~eR The e~uxat amount advaaad shall be immediate~j? due and payable to tt?e Mortg4gee aad shall be ~red as en additional prindpal wm under tNs iastrument and bear the same rate oi interest irom date oi sdvancement as the prlndWl 1i?debtedneas. An offidal reoelpt thereior shall be coa~cluaive evidence oi wch payment and of the vWdlty oi sucn charges. The Mort~agee m~y apply c~redits held by it for the above charges, or any part thereot. on account of any delinquent lnstallments oi prlndpal or tntet~eat or an,y other psyments maturing or due uader tWs instrument and tAe amouat oi credit e~dsting at anY time shall be rednced by the amount thereof paid or applled as heretn provlded. The amount oi the ezisttng credit bereuuder at the time of say transier o! the Properb? sball without aadgna?ent thereoi inura to the bene8t of the wcroeasor owner oi the Propert3? and at~all be applted under and subject to all oi the provfadons hereoL Upon the payment in full of the indebtednesa, the amount of any unused credit st~all be applled W the psyment thereoL The Mortgagee may collect a"late charge" not to esoeed four centa (4c) foi each one dollar (=1.00) oi each moathly installment payment requfred on the note and under thia Mortgage which la more than nfteen (18) days in arrears. to cover the extra expense lnvolved 1n handlin8 delinquent pe~ymenis. 2 To psy. when pqyable~ all taxes and ass~nents. general or apecial, water renb and ground rents and all other charges whatsoever levled upon or a~ed or placed against the premiaea. pravLsion for wNch has not been made here- inbefore, and wlll promptly del[ver the oIDcial recefpts therefor to the Mortgagee; to likewlfe pay all taues, assea~nents and other charges. levied upon or assesaed. Placed or made against this instn~h~k or the indebtednes~ or any fntere~t oi tbe Mortga~ee in the premises or the obll8atlons secured herebY. Provided Uut the payment of aay wch tax aasess- ment or charge by the Mortgagor ia not rnntrary to law or would not result in the psyment oi an unlswtltl rate oi fnter- est on tbe fndebtednes hereby aecttred. In the event oi the paasage aiter the date oi tLis instrument o! any law ot the State. or subdivlsloa thereof. wherein the premiaes are aituated. creatiag or providing for aoy tax, ass~snent or charge whicL by the above provtso is not to be paid by t6e Mortgagor. the indebtedness secured herebq toget6er with interest due tl~ereon, s6ell. at ~e optlon oi the Mortgagee. become immedlately due snd payable, and in the event psyment there- ; of is not made forthwlth, the MortBagee maY tak~ or cause W be taken auch action or proceeding as may be taken here- i ~ u~er in the case ot any other default 1n the payment of the indebtedness. ~ ! 3. To keep the buildings and additions t1?ereto on or hereafter erected or placed upon the land iaaured against loag ~ ; by Sre emd sacL other h~ards, casualties and contingeades. lncluding war damages if at aqy time a state oi war e~ats or ; ~ it appeen to the holder of the note that war is imminent~ aad in sucA amounts and for such periods~ as ms,y be required ~ irora time t~ time by the Mortgagee. and to pe~y pmmptly when due all premiuma ~ such insurence, provldon for pay- ~ ' ment oi which has aot been made hereinbefore. The polides oi inaurance shall have loss psyable provlslons acceptable to ~ ~ tbe Mortgagee and sl~ail be deHvered to and held by the Mortgagee. or as it msy.direct, until Ws Mort~age is aatisfled. f Renewal policies oi lnaurance. Premiums for wWch Mve been fully paid. are to be furnished to the Mortgagee at least ~ a Siteen days prior to the expiration date ot the insurance U?erebY nne~ved. The fn~uraaoe shall be wrlttea 1a oompanies ~ approved by the Mortgagee; in no event shall the Mortgagee be held rrsponstble for fallure to pay for any iasuranoe written or for any loss or damage gro~wing out of a defect in any poHcy or growin~ out oi any failure oi any ins~u~ance company to pay for any? loas or demage inwred againsL In the eveat oi lolis the Mortgagor shall give immediate notice by mail to the Mortgagee who may make proot oi loas ii not made pmmptiy by t6e Mortgagor; eacA lnsurance company concerned L.hereby authozined and directed to make payment for loas d[rectly to the Mortgagee instead oi to the Mort- ~ gagor and the Mortgsgee iointly; tlie insurance Pmceeds. or anY P~ ~Y be applled by the Mo ' tlon. W the rtB+~B~. at its op expenses. if sny. incvrred by 1t in the collection thereoi, to the reductlon oi the indebte8nea~ bereby se- cured, to the restoratton or repafr of the pmperty damaged, or releaaed to the Mortgagor without liabillty upon the Mort- ~ gagee ior such release. All poHdes oi lnsurance are hereby sssigned to the Mortgagee as addltlonal securlty for tbe psy- ment oi the soms and interest secured hereby; in the event oi foreclosure oi this Mortga~e or other trander o[ tiW tp tLe ~ premiaes in exUnguishment of the iadebtednesa, all sight, tltle and interest of the Mortgsgor 1n and to any lnwrance polidea then in foroe shall paas to the purcbaser or ~antee. 4. To oomplete wit6ln a reasonable tlme any building or buildings now or at any tlme in the prooess of erectloa upon the lend and to pmmPVY ~P~'. restore or rebulld any building or improvementa now or hereaiter on the land whicL ~ w~hereby t~he p~ s~hau~ ~ v~wbte;~to~oom~pl wt~tl~tal~i w~ rule~ ~uLUon~sr, oar ouitii~ opa~ oi~ ~Y~~ anY 6a?ern- ~ mental agency aad not violate or permit the violatlon as to the premfses oi any building or use restrictions; to keep the ~ Lnd and ia?pravements thereoa free irom mechanids end matedalmen's lleas and will not suser aqy lla~ wperbr to the ~ Uen created by this lnstrument to attach to or be enforad agalnst the premisea ~ S. It detanlt be made ln the payment oi Wces. asee~ments, Hens, clafms, insurance premi~uns or any other chsrge 1 whatsoever. or any pert thereoi. or in the pertorn~eace of aqy act, W be paid os periormed by tbe ][ort~sgor under tbe ~ provWons hereo~. tLe Mortgs~ee may. at i4 optlon. malce pqyment thereoi or pertorm any act rsqulred ot tbe Mortga~vr fa any form or manner deemed expcdient and pay atp? other snm that is uecwary to protect tbe se~utRy oi this Instsv- me~t: the ama~nts so paid, wlth interat ttkreon trom tt?e date oi wcli pqyment at the s~me nte as Dorne by tbe prlu- ~ dPd fndebtednes. sball be a~ed as an additlon_1 llea ~ the premtaes and shW be added to and beoo~me a part ot the tIIBebted»ea~ secttred bereby aM be im~aedlately due and payable t0 the Mottgagee. My p~yaieat hereb~ autlWrl~ed to be made by tbe ~Iort~ee ma~ be assde aooordin8 to anY b111. statement or estlmate lurnisDed or procured L~om tbe appro- prlate pubIic o~foe or the W~Y ~n8 WYa?mt wltbont faqu[ry fnto the aocurac~? or valWitp t,ha+~o~ ~nd the reoeipt a! ~ W~ Dublfc oaloer or party in the hands ot the l~ort~ee sbW be ooncludve evl3~oe ot tLe vWdiqr and amonat a[ items ~ io paid: the y[~ee shall. at !b optlo4 be subro~ated to any encumbranoe. 1fen. cLim ae 8emand, aM to a11 tbe rf~hb ~nd accnrlUes for tLe p~yment thereo~. P~Ld ot dischar~M witA tDe prladpal aum aecured hereb~ ~ b~r tbe 7doetsasee aader tue pro~vWons he~o~ aad aay wch aibr~atlon rf~bt~ aeall be a~ddltional aad cumulative ~ecurtq to ti~is 1[ort- ~ p~a ~ oR 9?2 = ~ a~K171 PA~1 ~ . ~ - - - - - - _ . ~ _ ~ _ _~a~~-