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HomeMy WebLinkAbout2895 1 , ; , f ~ ot the Mort~a~ee be..rome iinmedlatdy due uW DaYabie. wiWout nottce. and Proceedin~s mqy be lnstttuted by t!?e ldort- ~aQee tor the reoavery theseot by loreclosuce ot fhfs Mort~e. or 1n aqy other nunr?er pennttted by Lw as tbs Most- Qagee ma,y elect, WtNn~ 1s tLe note or ia tNa Mort~a~e oontained to tM oontrar7 thereto notarlWta~dln~. Upon foc~e~- cloaure of thls 1[ort~e. tUe Mortsagee aDaU be aUowed us a put o~ the Indebtednw ~ecured Mreby. ~ad the Mort- SaBor aS~s ~ P~U?. ~11 casti ~nd expenses incurrad W oonnecti~ tl~ere~rith. lacludtns reuo~nable ~ttorae~'a fees. oost of tltle aud Luc aesrch aad tbe exteasfon to date ot ~a abstnct oi tlUe or UW Poi1Q~: and !n cw wch tor~dowre proceed- tags ue setUed befors the oansuaimatioa thereot or the entrY oi ~ud~ae~?~, aa~? mch costs and expe~ua ~ad other charges so fncurred. L~ciudins a rcruonaWe attoeaey's fee. dull nrvertheles bs patd. Tl~e Mort~a~ee or aq~? Pary? in in- terest. OelnS tl~e hf~A~st bldder. my? be a purcha~es at aq~r foreclosure We. AWr electian by th~ ~[ost~ee as Mre1n pro- vlded for maU? be exerclsM lma~diatet7 upon detault, oe ~t aoy Ume tt~ert~tter. and notNn~ shall be ooostrued W bs a wdver oi such ri~ht uale~s rvldenced by aA lnsavment in wdttn~ to that eQect dulY e~cecuted by the Mort~agee. The Mort~a~or wdves all rl~ht ot bwnaestead ~nd eue~aptlon ~ranted py tbe Co~sUtutloa anQ I.aws ot Flo~fda. AND THE MORZ~GAGOR FURTHEA OONVENAN'1'S AND ACREFS: 1. To psy tt~e prindpal indebtedneas with lntesest as !n the aote provtded. Zb pay month~j? unto the Mort~agee. in additinn to and st the tlme md place for euh payment ot prlndpal snd interpst. an tnstaltment ot each of tAe foAow- 1n8 char~es: (eu Texes a~W aqesunmts~ Qeaeral or speclal. and W other charges levled or to be levled a~alnst ths premises. (b) Premiums to become due and payable for. and to renew. the insussnce oa the premises ~ainst lon Dy nre and such otAtr hasard*. caswltles ~nd oontin~endes ~s hereln Drovided ior or requlred le+om tfine to tlaoe. The amount of the nspectlve montW,y lnstallments s6a11 be equal to the amount o! t1~e anaual nspective charge next due (as esflnc?ated by the Mort~a~ee). leu all lostallmeats al[ra~? pald tDereior. divWed by tDe numDer ot moutlily in- sWlrnenb therefor becomin~ due not Lter tban one month psbr to tUe due date o! any such chae~e ~nd abatl be aub- ~ect to increue ar decrease to the eutent reqult'ed to creute as oi a monthly pqrment dau on tbe note aot las tt~en one month psior to tLe due date ot any auch eLarge. an amount su~cient for tt~ py?ment thertoi whea due aad payeble. In no event shall the MortQa~ee receiving such p~ynient be Ifeble for any lnterest oa any aarount pafd W tt as heretn requir~d. and the maney so received me~y be held alth ib own funds pendtng psyment or appUcatloa thereoi as herein pmvlded. T!?e Mortgagor sbsll turnlsh unto the Mort~agee at least IIt~ dqys betore the due date w offictal Wtement oi the amount oi any taues or aa~nenta nest due. and such Mostsa~ee shall pyr the abo~ve cUar~es to tbe amount oi the th~ unused credit theretor ~s and wh~ thry beooa~e severalb? due and p~yable. The ldortgagee may. at 14 optlon. pey any oi such chuSes when psyabie. elther betore or ~iter they are delinquent, wlthout ~tlce. or auke advancea therefor in eacw oi the tt~en amaunt oi credit for saW cbar~e~. Tbe ezoe~s ~moeint advaaced ahali be immediate~7r due and payable to the Mortgpgee and shaII be secured as en addltlonal prtadpal wm under thb instrument and bear the same rate o! lnterest irom dste oi advaacement as the prlndpal lndebtedneas. An o~dal reaipt tiferetcr aball be ooncluaive ; evidence oi such payment and of the validity o1 such ctur~es. Z1~e Mort~ag~ee m~y app~y cr-~dits held by it for tlre above chargea. or any part thereoi. oa accouat oi any dellnquent instaIIanenb oi prlndpal or fnterest or aqy otber psyments ~ matuiing or due under this instrument and the amount ot credit eaistlag at any time shall be reduced by tbe amount ? thereoi pald or applied as herdn provlded. TAe amount oi the exkting credit hereundeT it the time o~t any trander of the P~rRY shall without asdgnmen~ thenwi lnure to the beneSt of the suooessor owner at the Properb? and sLall be applied under and subject to all oi the ~rovldons hereoL Upon the payment fn full oi the iudebtednas. the amoant of any unuaed credlt shall be applled to the payment thereoL : Tbe Mortgagee msy collect a'7ate charge" not to exoeed four cents «c) for each one dollar (=1.00) of each monthly instellment pRyment requlred on the note and nnder thls Morigage whlch Ls more than Siteen (1S) dsys in arrears. to cover the extra expense involved in handling delinquent pf~yments. 2 To PaY. when payable. all taxes snd esce~nents. geaeral or special. wster rents and ground rents and all other chsrges wMboever levied upan or assessed or plaoed s8ainst the premises, proWston for whlch has not bees~ made hert- inbefore, and wW prompUy deliver the officlal reoeipts therefor to tLe Mortgagee: to lllcewise pay all taxe~ es~aneab and other charges. levled upon or aasesaed. placed or made against Lhis inatnulnent~ or the indebtedneas or aip? Interest oi the Mortgagee in the premises or the obligations secured hereby. provided that t~e pqyment o1 any wch taz aa~eas- ment or charge by the Mortgagor 1s not contrary to laa? or would not result in t6e psyment oi en unlawful rate oi fnter- est on tve indebtedness hereDy aecured. In the event of the paasage aiter the date ot tLis instrument at a~? Lw of the ' State. or subdivlston thereo~ wherein the premises are sitnated. creating or providing for aRy tax. a~nt or charge ' ~ mh~~h b4 t~p ~MV~? gr~wi~t? y noR to be j?~id hy the Mprt¢aaor; the tniiebtedness ~~re~l horohv *_.,~~..r i ' thereon. shall, at the optlon oi the Mortgagee. become immediately due aad payaWe~ and in the event ~ i ~f b aot made forthwltb, tbe Mortgagee may teke or cause to be talcea such action or ~'°~~t there- ~ F under 1n the case of any other default in t6e payment oi the indebtedneas. p~g °s ma}? be taken here- ~ ~ 3. To keep the buildings and addiUons Wereto on or hereatter erected or placed upon the land insured against loss j by gre and wch other hazards. casualties and contingeACtes, includU?g war damages If at any time a state o! war e~dsts or 4 it appears to the holder of the note that war is imminent, and in such aaaounts and for such perlods, as mqy be requfred S lrom time to Ume bq the Mortgagee. and to pqy prnmptly when due all premiums on such iasurance, provWon for pay- ~ ment oi wWch hsa not been made herrlabefore. The polides ot insurance ahall have loas psyable pmvis[on~ uceptable to ~ the Mortgagee and shall be delivered to and beld by the Mortga~ee. or as !t m~y direc~ unt11 thls Mort~age is sstisged, Renewal policies oi insurance. premiuans for wNch have been iully paW. are to be fundshed to the Mortgagee at least ' IItteen days prior to the expiration date oi the lnsurance thereby renewed. T6e iawran~e st~alt be wrltten in companles ~ appmved by the Mortgagee; in no event shall U?e Mortga~ee be held re~aponatble for failure to pqy for any insurance wrltten or for any loss or damage growing out of a defect in ariy poHcy or groaing out M aqy failure oi any insuranae oompany to pay for any loas or damage in~ured ageina~ In U?e eveat of loo the Mortgagor ahall give !n?medlate noticx ~ by mail to the Mortgagee who may malce proof oi loss ii not made pmmptly by the Mortgagor; esch insuranoe company ooncerned b. herebq authorized and directed to make payment for loas dIrectly to the Mortgagee instead ot to the Mort- F ~agor and the Mort8a8ee ~oint~y: t6e insurance Pl'oceeds. or anY P~ ~Y aPPlled by the Mort~agee, at its option. to the expenses. ii any, fncurred by k fn the oollection thereof. to the reductlon oi ttx indebtednes hereby se- cured, to the resWraUon or repair oi the property damaged, or released to the Mortgagor aithout liability upon the Mort- ~ gagee for such releaae. All poHdea of insurance are hereby asaigned to the Mortgagee as additioaal sec~rtty for the psy- ~ ment o! the sums and iaterest ~ecured hereby; In the event oi foreclaaure of thi~ Mortga~e or other trander ad tlW to ti~e premfses in extingafshment oL the indebtedneas. all rfght, tltle and interest o1 tLe Mortgagor in and to any fnwsance ~ polides tden in lorce shall pass to the puml~aser or grantee. ~ 4. To complete wltbin a reasonable tlrne any building or bWldings now or at any tlme in the rooea~ of et+ectlo~? u We land and W promPVY ~P~. reatore or rebufld any building or improvemenb now or ttereafter on tLe laad wl~ ~ may beoome dama~d oe be d~tra~yed, and noi commtt or pendt to be dant or tz~sL a~ or about tbe pi+emises anythln~ ~ whereby the premises shall become leas valuable; to oompl~ wttli sll lavv~ rules, reguLtions, or ordtnuiaa of au~ govern- s; mental agency and not violate or permlt the vlole~Uon as to the premiaes oi ani? building o~ use restrictbns; to keep the ~ land and itnprovements thereon iree iram mechanic's and materialme~a's ltens and will not su~er any llas wperbr to tbe lien created by this fnstrument to attach to or be eniorced against tbe premisea. ~ 5. Ii deiault De made in the paqment of ta~ces. assasmenU. lleos, clafms~ lnsurance ptrmiums or any other charge whatsoe~ver. or any part thereof. or in the pertoraianoe of aay act~ W be pafd ar pedornud b~r the l~[ort;asor uades tbe provWons htreot. tlu Mort~a8ee maY. at lis optlon. a?e~ke pe4ymeni thereot or perform a~ ad required a[ the Mortgagar ~ fn an1 forna os manner deeaned expedieat aad psy aip? otber wm that M neoessiuy to protect tLe sec~er[t~ oi this Instiv- ~ ment; the amoun4 so pata. wfth interat thereon from tbe date ot wch ps~ment at tl~e t~me rate as Dotae b~ tbs pslr~- dpal lndebtednes. shall be aa~esed as m additloAal lka a~ the premises and shall be added to aad beoo~e a part ad the ~ ~ ladebtedneat ~ecuned hereby ~1 be immediatety due aad p~yable to tLe Mo~• An7 P~Y~t ~exbY tutboii~ed to be ~ ~ made by tbe Mort~a~ee ma,Y be assde aeoordtn8 to aepr b~l. statemeat or estfmate lurnlsl?sd or proeured irom tbe appro- x=: Prfate public o~lce o~ tDe P~rtY c4imtn~ P~U~t wit6out ioquiry into the accusacy os va1Wltp thereo4 and the reoeipt at ~ . aeq pnbltc omoe: o: p.:q? fn the naaa. ot cbe Mo~ee .Ti.u be ooncludve eviaenoe ot tLe validtq ana amount ae ttem. w paW: the l[ort~ee shall, at ib optlon. De subrogated to auy mcnmbranoe. lie~, cL1m oe dem~nd. and to ~11 tLe rl~hb ~r ~nd ~eendtks fot tt~e papment thereo~ P~id,or df~charQed wlth the prlnclpal snm aecured hereb~ oe~ bp tb~ l[octpsee ~ nnder tse p~i~m Asreo~ and any wch abro~?tlan st~b t1W1 be ~dditional Rnd cumuLtlw ~ec~ttlt~ to t61s liort- ~ p~~ ~ ~ ' ~ ~ ~ ~ . • . _ : _ ~ .~*~i4~s~.v ~~«t~~.ir, ~t~+v"~°l°S^+ 'W~-a. . .