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HomeMy WebLinkAbout2744 ot the Mort~sgee become fmmediately due and DaY~ble. witAout noUce. and proceedin8s maY be instttuted by the )dort- Qagee for the ncovety theseo~t by foreclosure o~ thls MortQa~e. os 1n ~qy other mw~er permitted by law as the Mort- cl~ure~oL thls Mo~ ttie Mo ~rt~a~ee shall be ~ a~ s~Part af the indeb~tednaat~~iecured he~ a~nd t~ Mort gegor a~rees to p~y. all cosb ~nd expensa incurred in coanectia~a thercaith. lncludtc?~ reasonable attorney'a fees. cost oi ttUe and tax aesrch and the extendon to dste of an ebstract oi tltle or tttle poliq; and in case su~h forealoture proc~cd- Ings are settled before the coawmmatlon thereof or the entry ot iudgmea~ eny such custs and expen~es and oWer ct,arges so lacurred. includlns a reascAable attorne~?'s iee. shsll nevertheless be patd. The Mort~aeee or.W parRY 1n in~ terest, bein~ We highest bld8er. may be a purel?aser at any foreclosure ssle. Aqy electton by tbe MortQa~ee as herela pro- vWed for m~y be exerclsed lmzaedfate~j? upon detault, oe at ~qy tfine thereatter. ~nd nothtn~ aAall be ocasttued to be a watver oi such rlght unless evl8ence8 by an instrument !n wddng to that eQect duly executed by the Mort~sgee. Tbe Mortgagor wdves all rl~ht oi laraest~d and ex~nPtion sranted by the ConsUtutlon and I.aws of Florlda. AND TAE MORI~GAGOA FURTHEB CONVENAN'15 AND AGREFS: l. To pay the princtpal indebtednesa with iaterest as W the note provlded. To pqy montt?lq unto the Mort8a8ee. 1n addtUon to and at the time and plac~ for each payn?ent ot principel and interest, aa installmeat oi each ot the follow- ~ T (a) Teuces and aaaess~nents. Sener~tl or speclal. aad all other charges levtcd or to b~ levled a~ainst the premiaes. (b) Premiums to become due aud pa4yable tor. end to renew. the insurance on the premtses against loas by Me aad such other hanrds. casualtles and conttn~end~ as herein provided for or requlred irom time to tfine. The amount oi the tespecUve monthly fnstaUtnenb shall be equal to the amount of the annuel respecUve cnarge next due (es ~ted by the Mortga~ee). le~ all fnstallnnents already paid therefor. divlded by the number of monthly ln- stallments theretor becomin~ due not later than o~ month psior to the dae date oi any such charQe and shall be sub- ~ect to increase or decrease to the extent ~9~1red to create as of a month~y psymeat date oa the note not leas tt?an one monW prior to the due date oi any such char~e. +u? amouat su~ictent Lor t6e payment thereof when due and payable. In no event shall the Mortgagee receivin8 wch pqYn?ent be 'liable !or any tatereat oa any amount paid to it as herein required, and tne money so reoelved mely be held arith 14 oam funds pendinB payment or appllcaUon thereo! as hereln pmvided. The Mortgagor aAall furnish unto the Mortgagee at least niteen days before the due date an o~cisl statement oi the amount oi any taxes or asses~mnenta next due. and such MortQa~ee st~all psy the above chargea to the emount of the then unused credit therefor as and wh~ tbey become severa111 due and pe?yable. The Mortgagee mqy. at its opUon. pay any oi such charges when psYuble. either before or atter they are deHaquen~ without noUce. or make advances { therefor in exoeas oi the then amount oi credit for ~atd cLarBes. TAe exceas amount advaaced aball be immediately due : and payable to the Mortg~igee snd ahall be secured as an addlUonal prlndpal sum under tWs instrum~t end bear U?e same ~ rate of interest irora date oi advancement as the pzindPal lndebtednes. An o~ldal recelpt thereior shall be condusive ~ evidence oi auch psyment and of the validity oi suc.a chatga. The Mortgsgee ma~y appty credits held by it for the above i charges, .or any part ~hereoi. on account of any delinquent lnstallmenb oi prlndpal or Intereat or any other payments s, maturiag or due under this fastrument and the amouat of credit exlsting at eW? t[me shall be reduced by the amount ` thereof patd ar applied as here[n provided. 1Le amount of the existing credlt hereunder at the ttme ot ar~y transter oi the 3 P~nY s~ withQUt assigament thereof inure to the beneHt ot the suooeasor oaner of the PropertY and shall be applied ~ under and subject to ell oi the provisions hereoL Upon the payment ln full of the indebtedneas, the amount of any j unused cnedtt shall be spplied to the paym~t thereoi. The Mortgagee may collect a'9ate charge" not to exceed four cents <4c) for each one dollar (i1.00) oi each montWy Installment payment requlred on the note end under this Mortgage which is more thau 8tteen t15) days 1n arreais. to cover the extrs expense lnvolved Sn handling delinquent payments. 2. To pay. when psyable. all taxes and a~ments„ general or spectal. water rents and ground rents and all other chsrges whatscever levied upon or ea~es~ed or placed aSainst the premises. provislon for whtch has not been made here- inbefore. and will promptly deliver the official receipts therefor to the Mortgagee; to llkewLe paq all taxes, as~easnnents and other charges, levled upon or a~ssed. placed or made againat thls instrument, or the Indebtednas or any lnterest oi { the Mortgagee in the premiaes or the obllgations secured herebY. Provided that the pqyment oi any sucII tax asses~- ment or charge by the Mortgagor 1s not contrary to law or would not result in the payment oi en unlawiul rate of lnter- est on the indebtedneas hereby secured. In the event oi the passage aiter the date of this instrument of any lsw oi the State. or subdivlaion thereoi. wherein the premises are aituated, creating or proWding for any tax. a~nent or charge which by the above provimo ia not to be pald by the Mortga,gor. the Indebtedaess secured hereby together with interest due thereon, shall. at U?e optlon oi the Mortgagee. become immediatelq due aad payable. and in the event psyment there- oi b not made iorthwith, the Mortgagee may take or cause to be taken such action or prooeeding as maq be taken here- under 1n the ca~se oi any other default in the payment oi the indebtedneaa. 3. To keep the buildings end addition~ thereto on or hereatter erected or placed upon the land insured against loss by flre and such other hazards. casuslttes and continge:rcies, iacluding war damages it at any time a state of war exista or It appears to the holder oi the note that war is imminent~ and in such amounts snd for such periods. as maq be required irom time to time by the Mortgagee. and to psy promptly when due all premiums on such fus~irance, provis~on for pay- ment of which has not been made hereinbefore. The polides ot insnrance shall have lo~s pqyable provlsions acceptable to the Mortgagee and shall be delivered to and held by the MortQagee, or as it ms,y direc~, until this Mortgage !s satisged. Renewal pollcies of insurance. premiuma for which have been fully paid, are to be fumished to the Mortgagee at least nfteen dsys pdor to the expiraUon date oi the inwrance thereby renewed The insuranoe shall be wrltxen in companies appmved by the Mortgagee; In no event shall the Mortgagee be held responaible for failure to pay for an,y insurance wrltten or for any loss or damage grrnving out oi a defect W any policy or gi~ovving out of anq tatlure oi any insurance oompanq to pay for any los4 or damage insured against. In the event oi lors the Mortgagor shall g[ve immediate notice by mail to the Mortgagee who may make proof of loas ii not made pmmptlq by the Mortgagor; each Insurance company ooncerned is_hereby authorized and direcied to make payment for loss directly to the Mortgagee fnstead oi to the Mort- Bagor and the Mortgagee iofntly; the insurance pra.~eeds. or any part thereo~i. may be spplled by the Mortgagee~ at its option, to the expeases. if any, fncurred by it 1n the collection thereot, to the redncUon of the indebtednen hereby se- cured, to the restoraUon or repair oi the property damaged, or releaaed to the Mortgagor without liability upon the Mort- gagee for such release. All poHcles of insurance are hereby assigaed to the Mortgagee a4 addlUonal security for the pqy- ment ot the sums and interest secuned hereby; in the event ot forecloaure of tbis Mortgage or other traqster of tltla to the premfaes in exUnguishment of the indebtedness. all right, tltle and interest oi the Mortgagor ln and to any imurance polldes then fn force shall pass to the purchaaer or grantee. 4. To coinplete within a reasoneble ttme any building or buildings now or at any time 1n the prooess of erectioa upon tLe land and to promptly~ repair. reatore or rebufld any butlding or lmprovements now or hereafter on the land whicb may become dema~ed ar be dedroyed. aad not eoa~mit or permit to be done or exid on or abont the premises anytWng wherehy the premisea ahall beoome less valuable; W comply with all law~ rules, regulatlons, or ordinanoes oi aay gavern- mental agencq an8 not violate or permlt the violatlon as to the premises of any building or use restrlctions; to keep the Lnd and improvem~nts thereon iree irom mechanic's and materialmen't Hens and vvlll not suffer a~y Hen wperior to the llen created bq thfa lnshvment to attach to or be eniorced against the premises. S. It deiault De made in the payment of ta:es, asses4nents, llens, claims, insurance premlums or any other charge whataorver, or auy part thereoi. or in the pertormanoe of any act, to be paid or performed by the Mort~agor under tLe provWons 6ereof, the Mortgagee maq. at !ts option, mste pqyment thereoi or pertorm aay act requtrcd oi the Mortgagor In any form or manz?er deemed eupedient and pqy any otber sum t2~at fs neoeasary to protect the sec~uity oi tbls lnst:v- ment: tbe amounb ao paid. wlt6 interest thereo~n from tbe date oi such payment at the aame rate as borne by the prin- cipal lndebtednes„ aball be as~eared as an addltlonal llen oa tt?e premises and shall be added to aad beoome a part oi tlie lndebtednes ~ecured hereby aM be immediately due and p~ysble W tbe Mortgagee. Any Qsyment hereby wtborl~ to be made by the Mort~a~ee mq? be made aceording to aqy Wll, stateinent or estlmate iurnished or proeurM hvm t6e appro- P~k Publtc o~loe o~r the P~7 ~1~8 P~Yment witbout inquiry into tl~e accuracy or v~lidttp tLerea~ and the reoelpt M ~Y Publfe oIDoer or party 1n the lunds oi tLe MortgaQee shW be conciudve rvldtace oi tUe validlb? and u~wnnt M tteao~ so Paid: tbe Ma~t~ee aha11, at 1b opUoq be subrogated to any encumbrance. Ilen. cLim oe demand, and to aU the rl~hts ~ aad ~ceadtle~ for tlie pwymeat tLereo~ Pafd ot disrhasaed wlth the princiPal sum ~ecured lureby ~ by tbe M~ee undar tLe prnvldoos bereo~ and any wch subm~atlon righta ahall be ~dditioaal and aunuLtive ~ecurft~ to th4 Yort- i~l~• 4 l a~~K17z PACEz~zs ~ i ~ , _ - - ~ - - - < . - < , ; ~ ~~~~~.~~~~^~--~c-. .