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HomeMy WebLinkAbout2853 ot tAe Morf,~a~ee Decome immedietely due uW paYaWe. without notlce. and proceedln~s maY be lnstltuted by tbe l~ort- ~ee for tAe reooveiy thereot by toreclosure o~ ttds Mort~e. or tn any other miinner permitted by law ~s tbe Mort- Qsgeemay elect. aqythln~ in the note or 1n this Mort~a~e oonWned to th~ ooutnrY thereto notwltb~standtni. Ul~ fore- closure of tt~is Mort,~a~. tl~e Mort~a~ee shall be WowM as a part ot the fndebtedness secured herebY. and the Most- ~agor a~nees to pq. all casts and expenses lncurred ia oonnectlon therewit4 ladudins rea~oaaDle attoraey'a fea. oost of tiUe and tax aearch and tl~e extendoa W date oi an abdnM of tttle or Utle PollaY: and fn due wch toreclosure proceed- ings are ~etqed beiore the cona~manatton thenw! or the entq? ot iudgmen~, ~ny such costs aad expen~es a~i other charges so lncurnd~ lacludin~ a rea~o~ble 1?ttorne~'s fee. ~hall neverthelea~ be pald. The ldort~~ee or W WrtY terest. betng tl~e hi~hest bldder. may De a purct~saer at aAy foreclosure We. An~ ele¢tlot~ b~ tt~e MortQa~ee as heretn pro- vlded for ma~r be exerobed lmmedfatel7? upon default, oar at anp tlme there~tter. and aothin~ th~ll be oonsttved W be a wdver oi such ri~ht unless evidenced by an instrument fn writtn~ to that eQect duly e~cecuted by the Mort~aSee. The Mortga~or wdves all rl~ht ot Doaoate~d and exemptlan panted by tbe C~onstituU~ and Lws ot Florid~. AND THE MOR'PGAGOR FUltT~~sR CONVENANTS AND AGREI~: 1. To p4y the prindpal indebtedneas wlth interert ~s !n the note provided. Zb p~y manth~y unto the Mort~agee. fn eddiUon to and at the time and plaoe tor each pe?yment o! prlndpal and lntei+est, an inataliment o~ eacA ot the follow- ~ Taxes and apeaamentr. avneral or speclai. and all other cLarges levled or to be levted a~atnst the premLes. (b) Premiums to beconne due and payable for. and to renew. the insur~nce on the premL~es a~alnst loes by Sre aad wch other harariL, ca~uslties and oonUn~encia aa herefa provided for or requlred trom tlme to time. T!?e amount ot the respectlve moathly installmenb sball be equal to the amouat oi tAe annusl respective charge next due (es es~natea by tDe Mortga~ee). les all lnstallments alre~adY W1d iheretor. divided by the number a[ montUly !n- stallmeab tberefor beoomin~ due not later than one month psbr to the due date ot any such cLae~e and ahall be sub- ~ect to lncrease or decreese to the e~ctent rMutred to cra?te as oi a moathly peyment date oa tAe note aot las than one monW prtor to the due date ot any such cUar~e. an amount su~ictent for the payment thereoi whea d~te and pep?able. In no event shall the Mort~agee reoelving sucli pe~rment be lfable for aqp interest on a~? aanount pald to it as heretn required. an8 the money so reoetvcd mq? be held aith !b own funda pending payment or applicaUan thereo! as hereln provided. The Mortga~or shall furnish unto the Mortgagee at least nfteen days before tl~e due date aa o~cial statement of the amount oi anY taxes or a~nents nest du~. and such Mort~ee ahail py the above char~ea to the amount oi the thea unused credit therefor ~s and r?he~ they become ieveralU? due and payable. The Mortgagee may, at its option. -p~y-aay oi such c~harges when payable. eitber beiore or after they are delinquent, vvlthout aotlee. or make advancea therefor ia eacess o~ the tben amaunt ot credit tor sdd cAar~es. Tl~e ezeeu aawunt advanced sAall be immediatety due and PsYable to the Mortg~gee and shall be ~ect?red as an additioaal prl~pal sum under tWs Instrument and beat the same rate of interest irom date of advauoement as the prindpal fndebtedness. An o~cial receipt tberefor shall be condustve evidence oi sucd ps3?mment and oi the validity oi such ct~argea The Mort~a~ee mq? appty credits held by it 1or the above charges. or any part thereoi, on aocount of any delinquent installments of prtndpal or interest or any other paymeats maturing or due under thia instrument and tIIe amount of credit e~dsting at any time st~all be reduced by tbe smount thereoi patd or applied as herein provlded. The amount oi the e~dstin~ credtt hereunder at tht time oi an~ trander of the Property thall without a~me~nt thenw! iaure to the beneflt oi the suooeasor owner oi the property and ahall be applled under and subiect to all o! the pmvldons hereoi. Upon the psYment in tull oi the indebtedneae. the amount oi any unnsed credit shaII be applled to the psyment thereoL T6e Mortgagee mqy colleet a"late charge" not to e~coeed four centa <4c) for each one dollar (=1.00> of each monthiy lnstallment payment required on the note and under tbts Mortgage which is more than 8lteen (15) daqs ia arrears, to rnver the e~ctra expense Involved in handling delinquent pf~ymenta 2 To pay. when psyable. all taxes and ass~aments. general or apectal. water rents and ground rents and ell other cbsrges whatao~wer levied upon or asseaaed or plaaed against the premisea. provWon for wWch hes not been made here- inbefon. and wlll prompW? deliver tAe oi[lcial recelpts therefor to the Mortgagee: to lpcewLe pay all taxea. asfeaaments and other charges. levied upon or e~ed. placed or made against this instnuenent~ or the indebtednas or any Interest of the Mortgagee in the premises or the obligationa aecured hereby. Pmvided that the payment oi anq wch tax asaess- ment or cMrge by the Mortgagor 1s not contrary to law or would not result in the psymeat oi an unlawhil rate of inter- at on the lndebtedness hereby secured. In the event oi tl?e passage aiter the date oi this fnstrumeat oi any Lw of the ; State. or subdivialo~ thereoi. wherein the premises are sttuated. creating or pmvlding for anY tax. asse~ment or charge ~ which by the above proviso is not to be paId by the Mortgagor. the Indebtedness secured herebq together wlth fnterest due ~ thereon, st~all, at the opUon oi the Mortgegee. become immediately due and payaWe, and In the event pgyment there- ~ oi b not msde forthwltL, the Mortgagee may take or cauae to be taken such actton or ` under ia the caue oi any other default In the payment of the indebtednesa. p~°g °s ~~~en here- ~ ~ 3. To keep the bulldings and addiUona thereto on or hereafter erected or placed upon the land lnaured against lass ~ by flre snd such other hazsrds. casualties and contingeudes, lncluding war damages ii at any time a state oi war exists or ( it appears W the hoider oi the note that war 1s la~minent, and in suc6 amounts and for auch perfods~ as may be requtred E irom tlme to time bq the Mortgagee. and to pay promptly when due all premt~una on such insurance, provl3ion for pay- ment of which hes not been made hereinbefore. The polides oi insurauce s6s11 have loas pqyable provls[ons aocepteble to ~ the Mortgagee and shall be delivered to and held by the Mertgegee, or as it may direc~ unt11 tWs Mortgege is satisfled. ~ Renewal pollcies oi fnsurauoe, premtums for wWch have been fally paid, are to be furnWied to the Mortgagee at least ~ Siteen dsys Pdor to the expiration date oi the insurauce thereby rea~ved. The fo~urance shaII be wrlKen in campaNes appmved by the Mortgagee; in no event shall the Mortga~ee be held responsible for failure to pay for anq ins~rance written or for any loas or damage growing out oi a defect ln apy policy os growing out M any failure of any insurance companq to pay for any loas or damage insured against In the event of lor the Mortgagor shall gtve itnmediate aotice by mail to the Mortgagee who mqy mske prooi oi loas if not made pmmptly by the Mortgagor; each ins~ranee compauy ooncerned Is.hereby authorl~ed and directed to make payment for laas directly to t6e Mortgagee ~stead ot to ttie Mort- ga~or and the Mortgagee ioinUy; the insurance pmoeed~. or any part tbereof~ may be applled by the MortgAgee, at its optlon. to the expenses. i! any, incurred by it in the oollection thereof. to the reduction of the indebtednen hereby ae- ~ cured, to tLe restoratlon or repair oi the property damaged, or released to t6e Mortgagor without lfability upon the Mort- gagee for such release. All poHdes oi lnsurance are hereby aadgned to the Mortgagee as addiUonal seeudty ior the pqy- ment oi the sums and interest secured hereby; in the event ot forecloaure of this Mortgage or other tranater o[ tlW to the premfses in eatingufshment oi the indebtedness, all rlgh~, tltle aad fnterest oi the Mortgagor 1n and to any insurance polides then in force shall pass to t6e purchaser or grantee. 4. To complete witLin a reasonable time aqy buiidtng or bulldin~s now or at any tlau !n the prooe~s of erection upon the land and to promPVY ~P~. restore or rebufld any bullding or improvemenU now or hereatter oa tl~e laad whtc6 may beoome damaged o~ be datmyed, aa~d not oomantt or permlt to be 3one or exist on or about the pr~misa anything ~ whereby the prfmiaes ahali beoome les~ valuable; to comply wlih all laws. rules. regulaUoa~s, or oMinsnoa oi anY 8~~- mental agenrq and not violate or permit the vlolatf~ as to the premises oi aay bufldiag or use zratrlctlo~: to keep the ~ luM and lmprovemeats tdenwn iree irom mechanic's and materlalmea's ll~s and ptll not suser aqy Hen superbr to the ! lien rreated by this instrument to attach to or be eaforced against the premisea 5. If detault be made ln the p~yment ot taxei„ asse~nents, liens, c~aims, inwrance pradums or aay other charge whatsorver. or any part U?ereoi, or ia tlie pertormance oi any pct. to be paid or performed hy the l[ott~a~os under the provWons l~a+eot. tl~e Mort~aBee mas?. at !b option. mske pe~ymeat Nereoi or perlorm an~y ad reqWred a[ the Mortga~or In any forrn or manner deemed eupedieat and pay sny other sum tMt is neoessary to protect tbe iswdty oi this iiutru- ma?t: the amounb so pald, with intereat thereon trom tbe dste of wch payment at t6e pme rate as bosne b~ the prin- dpal tndebtednew. sbali be as~a~ed as an abditla~nal lien on tbe premises and shall be ad8ed to and beoo~ne a part oi the Indebtedsas sccured hereby and be immediately dus aad p~ye?ble to tt?e Mortgagee. Aay p~yment bereb~ autborimed to be made by the Mort~ee m~? be made aooordln8 ~~Y biU. staternent os estimate furn4hed or proeured ino~ tLe appro- ; ~ prlate publlc o~foe ae tLe P~Y ~ WYm~t without lnquiry fnto tbe accuracq or vavdlqr tberea[, and the reoeipt o~ 1 ~ any publlc oatoar or part~ in tbe Wiinds d the Hoet~ee sh~ll be ooacludve evidence ot ths vaiW[y? aad amonat o[ ltems w patd: the ldostp~ee sba11. at its opNoa. be subro~atM to aqy ~cumbranct. lie~. claim ae ~emand, and to a11 tLe sl~hts ; ~ and ~eettdties foe tbe paymeat thersa~„ pald or d1scl~ar~M with the prluctpal sum ~ecured het+ebp oe b~r the l[art~a~ee € uader tae prnvldoos hereo~ aad aay wch aubr~atlon rl~hts thall be addittonai and dmatilatlve aaatslty to t]its ~[ort- s ~ ' ~ ~oK171 F~~2~~5 ~ ~ ~ ~ ~ ~ _ . _ _ . - _ 1_.:~~._ _ .