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HomeMy WebLinkAbout1425 , I . . ~ • . oi tAe Mort~a~eie becoaae imnaedtate~? aue uW pa,yable, wlthout notice. ana ProoeedinQs maY be L~stttuted by the ~Sort- ~ee for the reoo~very theno! by forecloaure ot Lhlt MOTI~'!~ Ot 1A i!V OthQS' I11iM0! pl~pltLOd bj? 1~N ~i ~AR MOl~- Qagee ma,y elect. a~ytldas in the note or in tl~1s Mort~a~e oontained to tM oantraq? ther~to aotwitwtaodin~. Upon tore- cioaun ot this Mort~~~ tLe Mort~a~re ihall be allowed ~s a pait at tAe lndebtedneas secured l~erebY. aad tue Mort- ~agor a~reea to p~y. W costs and expenns fncurred in oonae¢tion therewltb. includin~ ,rea~onable attorae~'s fees, oost of dtle snd tax search and the extenston to date ot an ab~tr~ct oi tltle or tltle PoU4r: and in cate such forscloau~e procecd- ie~gs sre setUed betore the coaaiaur?aUon thercof or the entry ot iudgment, any such oosb aod pcpen~es aM other char~es so lncuned. 1n~ludio~ a reasoaaWe wttorney'~ Lse~ shaU aeverthelas be Wid. TM? Mort~aQee or apy party la in- tenst, beln; the htghert bldder. m~y ~e a purchuer at Londosure sale. M7? electlon Dy tAe Mo~t~a~ee as he:+eln pro- vided for ma~r De euercbed 1maAed4teb? upon d~taalt, a~ at any tlme thereafter. and nothtn~ sbW b~ oonstn~ed to be a wdver of suc2~ rl~ht unlas evldenced by aa instivnnent in wdtin~ to that eQect duly executed by the Mort~egee. The Mortga~or wdves all rl~ht at hoa~este~d and exempUon ~ranted by the Qoastitutlon uM I.aws o! Florlda. AND TAE MORTGAGOIi FURTHFii CONVENANIS AND AGREFS: 1. 1b psy the prindpal lndebtedneaa wlth intera~t as !n the note Provlded. To WIY nwnthly uato the MortBagee. in addttlon to an8 at the ttme and place for each pa~ment oi prlndpal euid interest~ an installm~at a~ each oi the follow- fnS chat~es. tv Taues and as~neaM. 6~era1 or specW. and aD oWer charges levled or to be levieQ a~atnst the preml~es. (b> Premiwns to becorae dne and p~able for, ~nd to renear. the lnsur~woe on the premises against loes by Sre and wch other hasards. casnalties and oon~ ~s herelR Provided ior or requtred lrom time to dmc. - The amount ot the respectlve moathly lnstall~nenb ahall be equal to tLe uaount o! the annual res~ective char~e next due (as eWmated Dy the Mort~aQee). lers W installments already pald therefor. divided by tUe number at mantNy in- stallmeab tbereior becominR due aot later than ane aaontb prbr to tl~e due date a~ ae~y sud~ cbarge and aball be sub- iect to increase ar decre~se W the e~cteat required to create ss oi a•monthly paymeat dat~ on ths note not leas than one month prior to the due date oi aay wch cbaige. an amouat su~clent for the p~yment thereoi when dne snd psyable. In no event sball the Mortgagee receiving such psyment be Wible for wny lnterest on aiq? amount paid to it as hercid requi~ed. and the money so received mqy be held with ib own funds peudin~ psyment or application thereoi as herein pmvided. The Mortgagor sMU furnish unto the Mortgagee at least Stteen deprs before the due date an o~cial statement of the amount o1 any t~es or a~snents ne:t due. and such Mort~a~ee sball p~ the above charges to the amount oi the thm unused credit theretor as and when the~ become ~everalt~? due and payabla The Mortgagee may. at its option. p~,y any of such chargea when p~yaWe. dther betore or atter they are deltnquen~ wlthout notlce. or make advanoes therefor in acceo ai the then amount o! credit ior sdd cnar~es. The e~coe~s amount advanoed shall be immMiatelyr due and pqj?aDle to the Mortgpgee and d~all be ~ecured as an additfoaal prlndpal aum under this lnstrument and bear the same rate oi interest irom date oi advancement as the prlndpal indebtedneas. An o~dal reeelpt theretor shall be conclustve evldence oi such payment aad of the validlty ot such cMrges. The Mortgagee may app~y ¢redib held by it ior tLe above 1 chsrgea. or any psrt thereof. on account oi any delinque~nt fnstallmenb oi p:indpal or lnterest or any other pqyments ~ matu:ing or due under tWs inat~unnent and the amoaat ot credit extatlng at any time shall be reduced by the amount thereoi paid or applied as her~t provided. Tbe emount of the e~dsting credit hereunder at the tlme ot any trans[er oi the P~nY shall withait adgnmeat tbereo~ inure to the bene8t oi t6e sucoessor owner of the PropertY and aaall be appi[ed under and aub~ect to all oi the provWons hereoL Upon the payment in full oi the indebtednas. the amount of any unuaed credit shall be appLed to the psyment thereoL The Mortgagee may collect a'9ate charge" not to exceed four ceats (4c) foe each one dollar <i1.00) oi each monthly lnstallment p~yinent required on the note and under tlils Mortgage which is more tt~en Stteen (15) days 1n e~rrears, to cover the extra expense Involved in handWig dellnquent p~yments. 2 To pay~ whea psyable. ell taxes and as~ssnents. general or special. water ren4 and ground rents and all other cbarges whstwever levled upon or asaes~ed or placed against the premises. pmvldon !ar whtch has not been made here- inbefore. and wlll promptly deliver the oalctal receipta theretor to the Mortgagee; to likewLe pay all taxe; a~neats and other charges, levled upon or ass~sed. placed or made against thts inatrurhent, or the indebtednes~ or aay intenst of the Mortgagee 1n the preinlses or the obligaUons secured herebY. Provided that the psyment oi any sucL tax as~esr- me*~t or charge by the Mortgagor ia not oontrary to law or would not result in the psqment of an unlawt~l rate oi inter_ est on the fndebtedneas hereby aecured. In the event o! the paasage aiter the date oi this instrument o! any lsw oi the State. or subdivWo~ thereof. wherein the premiaea are dtuated. creating or providing for aqy tau. a~snent or charge wAfch by ttie sbove pmvlso is not to be patd bq the Mortgagor. the indebtednes4 secured herebq together wlth interest due thereon, shall. at the option oi the Mortgagee~ become lmmediatety due and payable, and in the event paya?ent there- oi b not made iorthwitb, the Mortgagee may take or cause to bP taken such actton or P~S ~s ~sY be taken here- und~ fn the case oi aqy other default in t~e payment oi the indebtedneaa. 3. To keep the buildings and addiUons thereto on or hereaiter erected or placed upon tLe land lnaured ageinstloss by Hre and wch other hasards„ casualcies and contingeac[es. fncluding war damages ii at any tlme a state oi war exists or it appears to the holder oi the note that war ia im~ninent~ and in such amounts sad !or such periods, as ma}r be nqWt~d irom Wne to tlme bq tDe Mortgagee, and to pay promptty when due all premiums on such Wsurance~ pmvis(on for pay- ment of which has not been made herdnbefore. The polidea oi insurance shall have lo~s the Mortgagee and ahall be ~livered to and held by the Mort~agee, or as it ~'~le pmvWons acceptable to i Renearal pollcles o! inaurance, prennituns for which bave been fullx pafd~ toare~be turalshM ~ is ssUdled. k Sfteen days Prior to the expirat[on date oi the insurance tbeieby rene~ved: The fasuranae sMll be wri~ oo~mpenles appmved by the Mortgagee; in no rvent :hall the Mortgagee be held responalWe for failure to psy for aay insurance I written or for any loaa or damage growing out oi s defect in aqy pollcy or growiag out of any faflure pt aay insurance i ~~~~e ~for any laea or damage insured agafnsG In the event oi lois tbe Mortgagor ahall ortgagee who me~y make praot oi loss if not made pmmptiy by the Mp 8~ve imaredlate notice ~8a8o=: each Insuranoe oompanq ~ ooncerned is, hereby authorlxed and dtrected to mslce payment for loas direct~y to tl~e Mortgagee instead ot to tLe Mort- E ~aagor and the Mortgagee ~oSnW?: tbe fnsnrance Proceedr. or aay Part thereof. maY be appLed by the Mortgagee~ at ita ~ opUon, to the exPeases. ff anY. lncurred by it fn the oolleMion thereof, to the tpductioa oi the lndebtednes hereby se- E c~uYd. to the seatoratlon or repatr of the Pmperty damaged, or releaaed to the Mortgsgor without liabWty upon the Mort- ~ gagee for such rrlease. All polldea of insurance are hereby assigned to the Mortgagee as addiUonal secudty for the pay- ~ ment oi the sums snd interest secur~d hereby; s~ ~e ~t or ro~ow~ o: ~s. ~co~ or ou~e: a~.n~a a nw co c~ ~ premises fn extlnguishment oi the indebtedneaa, all slght, tltie aad fnterest oi the Mortgagor W and to any inatrance - poUdes then in force shall paas to the purchaser or grantee. # 4. To oomoplete wltLin a reaaonable Ume any buUdin or bull ; S dings now or at any time in the prooeas of erectlon upon tbe land and W P~PVY ~WU'. restoi+e or rebulld any bullding or improvemenb now or hereaiter oa the laad wt~b i ~1Y beoome daa~aQed or be dedm~ed, aad not commft or permtt to be done or adst on or about the prmsi~ea wything € whereby the premises shaII beooine lea~ valuable; to compi~ with all laws. ivles, reBnlwUons. or or~inanoes oi anY 8overu- e me~1t111 a$P.~ICy aIId nOt MOIatC O! pltL7lt tliC vlOlaUoll as t0 t62 p!@mIlCS Of i~ly b1WdfRg O! u!! ~+estTlCtlOM~ t0 Y!!p th! i € land and improvemen4 thereon iree irom mechaniNs erW materlalmen'a liens and wID not sWier st~y Hen wperlor to tbe • lien created by tWs instrument to attech to or be eaforced against the prem(sea j ` S. It detault be msde ln the pRya~ent ot taues„ meaaneats, lleffi. cLfn'?s, lnsurance premlums or aqq oU?er charge ~ ; w2utsoever. or any part thereo~ or in the periormanoe ad anY act. to be pafd or pedormed bp the Mort~or under the i ; Provido~ns hereof. the Mortga~ee may. at ita optien. make pe~yment Wereot or pertorm a~? act required o[ tbe Mortga~or i ln any form or manner dewred expedient aad p~y any other sum that 1s neoea~ary to pratect tLe securit~? ~ tb1s instnt- i ment: the aanounb so PatB. vvlth interest thereaa~ from the date of sucli pe~yment at the s~me rate as bo~rne b7 the Prfu- ~ ? dpal indebtMnear. sbail be a~eaed as aa additlonal Hen on the premiaes uW ahall be added to aad beowne a part of the g mdebtedneas ~ectti+ed hereby aod be Immediatdy due aad paysble to the MortB~~• ~Y Pr1Y~t bereb~? autborl~ed to be m~de by the Mort~ee maU? be msde acoordin~ to aeq? b311. statement or atimate iurnished or procured trom tbe ro- y rr~•k P~ o~eoe ae tbe parq? ~latming psyment wttnouc iaqulry lnw the aoeus.q• or vWdib tuereo~ ana the reoe~pt or i ~~o~foer or p~rty 1n tLe ba~Ws a~ the Mort~a~ee sLall be oonclusive evldenoe oi tLe vWdlt~ aad ~mau~t o[ 1tem~ ~ ort~a~ee aba11, at !ts optlon, be snbrogsted to aqy encumbraaoe. llen. clefin ee dan~md, ~ud to W tbe rf~htr ud ~ ~nd lecusltles fot the ps~rmeat thereof. W1d or dt~char~ed wlth tbe PrindPal sum acurea bereb~? o! b~ t1~e y[part~a~ee ' P~~ ~ and aqp sucb subro~atloo rl~bt~ ahail be additioaal and cumulative aecuNty to tbfs ~[ott- ~ ~e. i ~ aooK ~.7~ ~1420 ~ ~:5 ~ - . _ _ _ . - " ,t_ ,a-H,~>~' • . a. ; -`~.F,: , ~:r;'';