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HomeMy WebLinkAbout2973 , ; ~ , , ot tRe Mort~a~ee become iian?edl~tely due and WY~ble~ without notice~ and proceedin~s meU? be instituted by the ldort- ~ee for tne reco~veri? thtreo~ br ioreclosura ot tNs Mort~a~e~ or In any other manner permitted Dy Lw as the Mort- ~sgee m~y el~ct. Wthlot ia tLe note or in tNs Mort~a~e oonWn~d to the oonte'nr9 thereto aotwltNtandlnt. Upon fore- clowre o! this MoUrt~a~e. tbe Mort~~ee shW bs wllowcd ~s a put ai tbe indebtednas secured hereby. and the Mort- ~agoe ntrees to p~. W costs and expe~ues incnrnd eoanectbn NerewitA. ladudint rcasenable dto:ney's fee~. cost oi tttle aad tsx seaeeh and the e:tendoa to d~te ot w abstract oi tltle or tlUe PolloY~ and in case such foreclasure proceed_ Ings are setUed before the consunnmation thereol or the entry of iudgraen~, any such costs and expeases emd othes char~es so incurred. Includtas a rea~eoabl~ attorny's tae. shW nav~hNw. be ~~e Mort~ee o~ aW? P~Y terest. bein~ the ht~hest bWdcr, may be ~ Durchaser at W foreclaure sale. Aq~ electlon by t2r ~dort~~se as heretn pro- vlded for nyy be e~cenised immedlate~ upoa deianiR or at any tlme tl~ereatter. and notNn~ shW be oonsuucd to be R wdver oi such riQdt unids evWenoed by aa instrument ia v?dttn~ to that eQect duly executed by the Mort~egee. The Mort~a~or waives all ri~ht of hoaa~ and exemptlon tranted by the ConstltuUon and Laws o! ~'lorida. AND THE MOR'1~GAGOR FURTHER CONVENANIB AND AGREFS: l. To pa~ the prindpal indebtedness wlth interest as in tAe note provfded. 1b psy moiith~y unto the Mortgagee. fn sddiUa? to and at the time and place for each psyment oi prindpal and intere~t. an installment ot each ot the follow- , ~8 (v Taxes and a~aments, ~eneral or specLl. an8 all oWer charges levled or to be leWed ~ainst the premisea. (b) premiums to beowne due and psyable for. and to renev?. tlu lnsurance on the premises against loas by Sre snd such other hasards. casualties and ooatin~c~rdes as herein provlded for or requtred irom time to tleae. The amount at the reapective moatl?~p installmenb shall be equal to the amount oi the annual ydpectlve charge next due (~s atlrnated by tLe Mort~e~ee). lers W installmen4 alrea~? Pa1d therefor. divlded by tbe number at monthly in- stallments therefor becomin~ due not lates tban one aionth prbr to the due dats oi any such char~e and aball be sub- ~ect to tncrease or decrease to U?e extent re4uired to create as of a monthly pqymeat date on the note aot less ihan one ip~~ pi{~ dve date oi any wch char~e. an amount au~iclent for the psyment thereoi when dye and payable. In no event shall the Mortgagee recefving such paym~t be liable for any interest on aAy amount paid to it as herein re9nired. and ihe moaey so recelved may be Deld wlth its own tunds P~~B P+~1ent or applkaUon thereoi aa herein provided. ZLe Mortgagor shall tura4h unto the Mortgagee at least Stteen dsys before the due date an o~cial statement oi tLe amouat ot any taxes or a~esmen4 next due. and such Mortga~es ahW pay the above char~es to the amouat oi the then unused credtt therefor as and whe~ they become severalb? due and payable. The M~+rt8~8~ ~Y. at 14 optlon, p~y eny oi such charges wbea pqysble. either before or after they are delinquent, wftnout nodce~ or make advencea therefor 1n ezcea oi the then amount oi credit for a~id ebar~es. The ezeeas ~mwmt advane~al shW be immediRtely due aad paysble to We Mort~pgee and shall be secured as an additional prlndpat wm under tWs instrument and besr the ssrae re~te oi fnterest fmm date oi advaacement aa the prli?dpal indebtednes~. Aa offidal reeelpt tLerefor shall be conclusive evfdeace oi such pe?yment and oi the validlty oi wch charges. The Mort,~agee mqy apply credib held by it for the above charges, or any part ihereof. on account oi any dellnquent installmenb oi prlndpal or interest or any other payments maturin~ or due under this inatrument and the amount o! credit existing at anY tlme ahall be reduced by the amount thereof pald or applled aa herein provided. The aanovnt of the existing credit hereunder at the tlme oi any transier oi the ProperU' sMll ~rithout assigiiment tnereoi inure to the bene8t oi the suooesaor owner oi the FropertY and shall be applled under and subject to all oi tl~e provialons hereoL Upon tbe payment 1n full of the indebtednde. the amount of any unuaed c.redtt shall be applied to the payment thereoL ' ~ T6e Mortgagee me~y collect a'7ate charge" not to e~coeed four cents (4c~ tor each one dollar (i1.00) of each monthly 1nsWlment payment requtred on the note end under ttds Mortgage which is more than Siteen (1S) days 1n arreais, to cover the extn acpense involved !n handling dellnquent payments. . 2 To pay. when payable. all taxes and assessments„ general or specittl. water renfs and ground ren4 and all other charges whatsoever levled upon or asseased or placed against the premises, pmvialon for which has not been made here- inbefore, and wW promptly deliver the o~icial reoeipts theretor to the Mortgagee; to Wcewise pay all taxes, asmeasmenb and other charQear levled upon or aa~ssed. placea or made against this lnstruYlnent~ or the indebtedness or any int~erist of - tLe Mortgsgee !n the premises or the obllgations sec~ued hereby. Pi'm'lded that U?e peq?ment oi any auch tax aas~- ment or cMrge by the Mortgsgor ls not contrary to law or would not result in the payment oi an onlawtul nte o! inter- est on the indebtedness hereby secured. In the event of the passage after the date oi this instrument oi any law oi the ; State. or subd[vlsioa thereoi, wherein the premises are attuated. creating or pmviding for any tau, a~nent or charge ~ whieh by the above proviao 4 not to be patd by the Mortgagor. We indebtedness aecured hereby together wtth intereat due ~ thereo~n, ahall. at ~ option oi the Mortgagee, become immediately? due end payable. and in the event psyment there- ' ot b not made forthwith, the Mortgagee may take or cause to be taken such acUon or prooeeding as may be taken here- under 1n the c~e oi any oWer default in tLe payment of the indebtedness. 3. To keep the bulldings and additlons thereto on or hereafter erected or placed upon U?e land lasured against loss by flre and such other darards. cas~alties and contingeIIdes. iacluding war damages it at any time a state oi war exists or it appean to the holder of We note that war ia imminent, and in such amounts and for such pe~iods. as may be required irom tlme to time by the Mort~agee. aad to pgy prompUy when due all premtuma on such inturance, provlslon for psy- ment of which has not been made hereinbefo~r. The polides of insurance shall have loas payable pmvialons acceptable to the Mortgagee aad ahall be dellvered to and held by the Mortgagee, or as it mqy dlr~ct, untfl Ws Mortgage ls satisfled. R,enewal poUcles oi inwrance. premlttms for which have been fully pa1d. are to be fua?Wied to the Mortgagee at least nfteen days prlor Lo the expiratlon d~te ot the insuranca therebq reaewed. T6e lnsurance dssll be wrlttea !n companies approved by the Mort~agee; in no event ahall the Mortgagee be held respon~iWe for failure to psy for any fnsurance written or for any loss or damage gmtivWg out of a defect in aqy policy or growins out oi any fallure oi aqy Insurance oompauy to psy for any laas or damage insured agsina~ In the event of bs the Mortgagor ahall give immediate notice by mail to thc Mortgagee who may make proof of loas ii not made promptly by the Mortaagor; each iasuranoe company oonceraed b.hereby authori~ed and dlrected to make payment !or loas directly to the Mortgagee instead o! to the Mort- ~or and the Mort~a~ee }o1nUq• the fnsurance pmceeds. or any part t6ereof. may be appDed by the Mortgagee~ at 1ts optlon. to the expenses. !f any, incurred by 1t ln the rnllcctton thereoi, to the reducUon of the indebtedneas hereby se- cured, to tbe restonUon or repair ai the property damaged, or rNeased to the Mortgagor without 1fabWty upon the Mort- ~agerier such relea~e. All polides oi inwrance are hereby assigned to the Mortgsgee as sdditional securlty tor the psy- ment ot the sums az?d interest secured htreby; in the event ot foreclaaure oi thb Mortgage or otlrtr truiatcs e~t tltla to the - premises In extinguWimeat of the lndebtedneas. all ri~h~ title and interest of the Mortgagor in and to any inwrance polides Nen !n torce shall pass to the purchaser or grantee. 4. To canplete v?lthia a re~ao~oable time any bulldin~ or buildln~s now or at any time fn the procxss ot erection upon tbe lu~d and to pmmpUy rep~ir. reatora or rebuild any Duildin~ or lmprovemeats now or hereatter oa the Lad wWeb may Decane d~au`ed ar be destroyed, aud noR oo~mit or permlt to be done oe e~dst on or aboat the prembes anythfng whereby the prennises ahall becotne 1e~s valwDle; to caeplr with aU lawa` tvles, re~uladous, or oMinances ot aey fo~vern- meatal a~enry and not vtolate or pernift lhe violatloa as to the premises ot anr buUdia~ or use restrlctioos~ to keep the W?d and imQrovanea4 thenoa tree irom mechanic's and materialrnea's llena and wW not wQer auy Uen superbr to tAe Ifen created bp tNs instrumeAt to attach to or be enforced agstnst t~ preml~et S. It detault be ma8e in tlie payment ot tacear aa~esQnents, Ilens, cWnu, lnarance premfums or any other chae~e wl~at~oever, or aar pact thee~eof. or In the pedormance ot any ut, W be pald or performed bp t!?e ldort~aior under the provYons l~es+w~ tlie ldort~ee may. at its optloa. make payment thereot or p~rlonn aay aet r~qnlreA at the ldott~a~or In an,p forai or manAer deemed expedimt and pay a~ otAer sum tbat is neeea~ar~? to proteet tUe iecudt~ oi thls Instiv. ~ meat: the amounti so pai4 w1t1~ taterert tbereon from tbe dace ot wch pqment at tAe wn~ nte as borne by tM prla- eipal lndebtedn~ s6~W be aresed as an a8ditlooal Le~ aa tM premises ~ad sAW be a8ded W~od ~ooa~e a part o[ tAe fad~btedne~s iacured baebp and be i~nmedlatetp dw ~adp~b 4 to tbe Mortpsae: My py?ment Me~b~~ autlioetsed to bt m~ ~r t!~ 1[ortpte~ mq be made acoordlns to a~ Dlll. statament or eatimate fumVbed os procursd lrom tbe appro- pti~tt publle oQSot ot tbe P~7 ~L P~U~t wltlant laqutr~? inW the aacur~c~? or v~lidit,~ tbei~eo~ ~od tbt rsoelpt a[ w wblk oalar or p~t~ m te. baoa. ot tM ~ecrep~e..dU e. oon~audve waeno. oe tb. r.Umtp ana amouac at te.mr w Pvd: tlr ltortsasa~ abaQ at 1L opqoq b~ wbro~ated to anp ~brance. 1Na. cWin ae dea~and. ~nd W W tat rld?t~ ~od MnttitfM tae t1N py?a~eat tl~er~o~. Dafd oe ~ar~ed w1tA Ne prlacipal wm ~ecuraQ ~reb~ or bp t1r Yatt~~e - uaMr t~ pe+o~rYoar 1~no~ uA ~ w~cL subro`atba rfshb sAau b~ ~8dlUoo~i ~ed eumuLtiw Neurlb to t~Y 1[oet- P~• s dO~X~~ ~ ~ . - . _ . _ _ _ - _ _ _ > _ . ~ ~ _ _ ~ _ > ~ .