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HomeMy WebLinkAbout2644 . ~ oi tAe Mort~a~ee become immediatel~? due and pRyaWe. without notlce, and Prooeedin~s ma,j? be instltuted by t!?e ~ott- ~ ~ee for the reooverY t2?eseot by foreclosure ot thls Mort~a~e. or 1n ~qy other anaaner permltted by law as tLe Mort- ~ee aaaY elect. aqytntn~ fa the note or in tNs Mort~a~e oontained to the oonti'~?r9 thereto notwlthstandti?~. Upon foe+e- closure ot this Mort~a~e. tbe Mort~a~ce ah~ll be aUowed as a part at the lndebtedaess secured hereby. and the Mort- gagor ~grees to pay. all costs and expersa lacurred 1n connectloa therewltb. tucludin~ reasonable ~ttorney's fee~. oost of tltle and iax search ~nd the extea:ton to date oi sn sbstract ot t[tle or tltle Poll4?: and ia ca~e wch foreclosuce Proceed- ings are setUed before the consummation thereoi or the ertry ot iudgmen~ any such cusfs and ~xpen~a sad other ch+~r8es so fncurred. lncludin~ a reaso~ble ~ttorney's lee. shW aevertheks De paid. The Mortga~ee or W purU? ia 1a- terest. befn~ the 1~ed bldder~ auy be a purct~a~r at aqy foreclaure sale. Any electia? by tLs Mort~~ee as herein pro- vided for may be exercl~ed fmmediatel~ upon defaull. or at u~y tlme thenafter, and nothtn~ shW Ds constiuM to be a watver of such right unleo e~vWeaoed by ~a lnstrument in wdtin~ to tbat ei[cct duly exec~ted by the Mort~s8ee. ~c Mortga~or waives W ri~ht oi homeste~d wd exempUon tnnted by the ConstttuUon and Laws at Florlda. AND THE MORTGAGOR FUIiTHEA CONVENANT3 AP1D AGREFS: 1. To pay tne prlndpal indebtednes+s with lnterest as in the aote provided. To pa~? monWy anto the Mortgagee. 1n addltton to and at the time ~sud place for each p~yment of prtndpal and interest. an tnstallment of each oi the follow- 1n8 ~harSes: (a) Taxes and aases~nents„ general or special. and a11 other charges levled or to be levied aQatnst the premises. (b) premiums to become due and p~yable for. and to renew. the insurance on the premisea aQainst loas by 8re aad such otDer hasai'ds. catwltles and coatfa~encies ~s Aerein _proyid~ . iQ; QF LS9ull'~d icom titne to time. The amount at tl~e respect[ve montht~? instellmenb aAall be equal to the amouat o! the aanual nspecttve charge next due (as edtmated by the Mort~a~ee). lew W installnnents alreadY W~ therefor. dtvlded by tl~e number at monthlY in. stallmenb theretor becomin~ due not later thaa oas month prbr to ~he due dste of any such ebar~e aad atull be sub- iect to lncrease ~ decrease to Lhe estent i'Mutred to create as of a montL~y paym~t date oa the note aot less than one month pdor to the due date oi aW? such char~e. sn amountsulHdeai tos_LLe ~neaL_tLereoi when due•snd payable. In no event shall the Mortgsgee receiving such payment be liable for any fntereat on a~q? amount petd to tt as herein requtred. and the money so received mqy be held wfth its awn fuuds P~~B P~nt or appllditlon thereo! as her~:n pmvided. The MortBa?8or shall f~u~nish unto the Mort6+?Bee at l~st IIfteen dsys befon the due date an o~cial statement oi We unount a~ any taxes or ss~ea~nents aext due. and such Mortsa~ee sball pqf the above char~es to tl~e amount of the th~ unused credit therefor as and whe~? they become severallY due aod p~yable. The Mortgagee may. st 1ts optlon. pqy any oi sach cTiarSes when pRyable. either betore or atter they are deW~quent, v~lthout noUce, or make advancea therefor in excras ot tlie then atnount of credit for sald c~arQea. The ex~eas amount ~dvanced ahall be immediate~? due and PaYable to the Mortg4gee and ahall be secured as an additional prindpal sum under this instrumeat and bear the same rate o! interest irora date oi advenceraent as the pr:ndpal indebtednea~. An o~dal reoeipt tLerefor shall be conclusive evidence oi wch payment and of the validlty ot such cMrges. The Mort~a~ee m~y apply credits held by it ior the above chargea, or any part thereof. ot? account oi any delinquent instsllmcnts of prlndpal or fntersst or any other payments maturing or due uader tLis instrnment and the amount of ~redtt exiating at nqY time shaII be reduced by t6e amount Wereof paid or appHed as herein provided. TDe amownt of tLe existing crndit hereunder at the Ume oi any trazu[er oi the PropertY shall without as~tgnmeat thereot inure to the bene8t oi the woceasor owner oi the PropertY and shall be applted under and sub,~ect to all oi the provlsions ~ereoL Upon the payment in full of the indebtedneas. the amount of any umiscd ct+edit shaii be applied W tl~e payment thereoL The Mortgagee may oollect s"late charge" not W exoeed four cents (4c) fot each one dollar (iL00) oi each monthly Installment ptyment requlred on the note and under t6fa Mortgage whlch is more than 8fteen (15) daya ln arrears. to cover the extra eupense 1nvolved in hsndling dellnquent pe~yments. 2 To pay. wtwn payablo, all taxes and a~meats, general or special. water rents and ground rents and all other charges wMtsoever levied upon or as~sed or placed aQalnat the premtcea, pmvWon for wh[ch has not been made here- inbeiore. and wW prompW? dellver the oIIicial reoeipts therefor to the Mortgagee; to llkewLe pay all taxes. aa~eas~nents and other cbarges, levled upon or aasessed, Placed or made agalnst tWs instn~Yhenk or the indebtedneas or eny interest o! the Mortgagee in the premisea or the obllgations secured hereby. provided that t,he pa~yment of any wch tau ass~s- ment or charge by the Mortgagor is not rnntrary to law or would not t+~sult !n the psyment of an unlawtul rate oi inter- est on the indebtedness hereby aecured. In the event oi the passage after We date of this instnunent oi anq Lw oi the ~ State. or subdivision thereof. wherein the premiaes are situated. creating or pmviding for aqy tax, a~ssment or charge I which by the above proviso is not to be paid by the Mortgagor. the indebtedness aecured hereby together with iaterest due thereo~. shall. at the optlon oi the Mortgagee. become immediately due and payable, and in the event pqyment there- oi 4 not made forth~vitb, the Mortgagee may take or cause to be taken suct~ actlon or proceeding as may be teken here- u~der fn the case oi any other default in the payment of the indebtednes~. 3. To keep the buildli?g~t and'addltions thereto on or hereatter erected or placed upon the land insured against laas ~ by flre and such other hs~ards, ceaualties and contingeades, lncluding war damages 1f at any titne a atate oi war exiats or ~ it appears to the holder of the note th~?t war 1s imzninea~ and in such emounts' and for such perlods. as may be r~quired ~ irom time to time by the Mortgagee, and to pay promptly when due all premiwns on such insurance. providon for pay- ~ raent of which has not been made hereinbefore. T6e polides oi insurance shall have losa pa3?able provWons acceptable to ~ tLe Mortgagee and shall be delivered to and held by the Mortgsgee, or as 1t may disect, untll t,h1s Mortgage is satlsged. 7 Renewal poHcies of insurance. Premiums ior which have been iully paid. are to be furnished to the Mortgagee at least ~ niteen days Pdor Lo the euptration date oi t6e lnsuiance thereby renewed. Tl~e insurence at~all be wrltten in compsnies approved by the Mortgagee; in no event shaU the Mortgagee be held responaiWe for failure to pay for any insurance i wrltten or for any loss or danu~ge growing out oi a deiect in any pollcp or growing out oi any fatlure oi aay Insurance ~ eompany to pay for any loas or damage insured agatnat In the event of lo~s the Mortgagor shall g[ve immediate notice j by mail to the Mortgagee who may make proof of loas If not made pmmptiy bq the Mortgagor; each insuranoe company ~ ~c?ncerned is, hereby authorised and directed to make psyment for loas directly to the Mortgagee instead oi to the Mort- ga~or and the Mortgagee ioinUy; the insurance proceeds. or any part t6ereol, may be• applled bq the Mortgagee, at its ~ option. to the expeaaea. i[ any. lncurred by it !n the oollection thereof. to the reduction o! the indebtedne~s hereby se- ~ cured~ to the restoratlon or repair M the property damagc~d. or released to the Mortgagor without liabWty upon the Mort- ~ gagee for such release. All polides of lnsurance are hereby asaigned to the Mortgagee aa additional secudty for the psy- ment oi the sums and interest secured hereby: in the ev~t ot foreclosure of this Mortgage or other trander o~ tltla to the - prPmiaes in extSngu4hment oi tbe indebtedness. all right, dtle aad interest oi the Mortgagor 1n and to a~y imurance polides then in force shall pass to the purcheser or grentee. 4. To oomnylete withtu a reaaonable time any buildinQ orbulldin~a now or at auy Wna !n th~ prow~s ot qectlon upoa • ~ tLe land and to promptly repair. restore or rebuild any building or improvements now or hereafter oa the lead whicL • ` ; msy beco~e damaged or be deatroyed, and not oommit or permit to be done or e~dst an or about the premfses anythtng i whereby the premisea shall beoome less valuable; to cw~nNY w~th W y?ws. rules. reg~ilat[ons, or ordinances oi any gavera- mental agency anQ dot vlolate or permit the violatlon as to tbe premises ot a~;y buflding o~ use ~etlons; to ketp the land and improvements thereon iree trom mechaafNs and materialraen's lieas and will not suRer aqy Hen superbr to tbe lien created by this lnstrument to attach to or be eaforced against tbe premi~ea. 5. If detault be made in t6e~psymeat oi taxes, asae~rnents, llens. claims. inwrance premfums or any other charge whstsoever. or at~y part thereof. or in tl~ performance oi anY set. to be pald or performed by the ldort~a~or under the ~ provbtons heri.wi, the Mortgagee msy, at its option, make pe~yment thereof or perlorm sny aet required ~ the Mortgagor ~ in any form or manner deemed expedient and psy aqy other sum that 1s necessary to protect tLe se~viiq? oi thls instru- ~ ment: the amatnb ao patd. wlth iaterest therea~ from tbe dste of such ps,yment at t6e same rate es boene b~ the P~- t dpal itMebtednea. shall be atiened as an addltlwuii llea on the premises aud shall be added W aad beoo~me a part oi the Inaeeceaneaa sec,~rea he~+eby ana be iaunediatel~? aue ana payabk to t1,e Mort~agee. Any p~rment nereby autLorl~a to be made bY tde Mortga~ee msY be made aoo~rdfn8 to aiq? b111. statement or estimate furnbbsd or procured fro~ tbe ~ppro- psfate publlc o~lce or tbe P~Y ~8 WY~~t withont lnquiry into tl~e aocuracr or vWdlt~ therea~ aad the reoeipt of ~Y P~Lc o~loer or prrty in t6e hands o[ ttre Mortga~ee abell be conclustve tvi8eace ot t6e va1ldit~ aad aaauat a[ iteaos so D~1d: the l[oit~ee s2u11. at !4 optlon. be subrogated to any mcumDnnce. 1len. clalm ae demaad, a~ W W tbe rl~hts and ~eCUHtles foe tbe p~yment t6ereo~ P~1d oe d1s~Las~ed wlth the pt(ndpal sum ~ecured hereb~ at b7 the L[ott~a~ee # under tUe pmvldons bereo~ aad w such aubro~atlon rl~hta abatl be ~ditioaal and cumulative sei.vslqr to tbfs 1[oat- ~ i~• , 600K 1 ( ~ PACE ~,U~ ~ ~ Y- • • ~ • ~ - x-'=~ ~ v „~X" ~ ~.e~~ ~"+s"r"^... _.Sk,'s:^~C c r~ _ ~v~ .