Loading...
HomeMy WebLinkAbout2467 ot the Mortgagee become tmmedlstely due end payable. without noUce, and procee~dings may be insUtuted by the Mort- gagee tor the recovery thereot by foreclosure ot thls Mort~ege. or in aay other manner permltted by law as the Mort- gagee msy elect. aWRhit?~ fa the aote or tn Ws MortgaQe oontafned to the oontrary thereW notwith=tandin~. Upon fore- closure of ihia Mort~a~e. the MortgaQee sheA be Wowed as A pert of the lndebtedness secured hereby~ and the Mort- gagor agrees to pAy. all cosb and expenses incurred 1n connecttoA therewtth. lncluding reasonable attorney's fees. cort oi title and tax search and the extendon to dete of en abstract of dt2e or title potlry; euW ia case sucb foreclosure proceed- ings are settled before the consummation thereoi or the entry of iudgmen~ any such co~ts and expenses and oWer chnrgea so incurred, including a t^eaaoi?~ble attorney's fee. shall nevertheless be peM. The Mortgagae or any party !n in- terest, being the higAest bldder~ pity ~ a purchaaer at any foreclosure sale. Any election by the Mortgagee ss hereln pro- vided foranay be exercised iaunediately upoa defnul~ or at any Ume thereaiter. and nothing shall be construed to be a waiver of s~ch right unless evidenced by an instrument in wrlUng to that eKect duly executed by Ne Mortgagee. The Mortgagor walves all ri~ht ot homestead snd exemptioa ~ranted Dy the Conatitutlon and Lsws ot Flodda. ; AND TNE MORTGACOR FURTHER CONVENANTS AND AGREFS: 1. To pay the princlpal lndebtedness with tnterest as in the note provided. , To pay month~y utito the Mortgagee. in addlUon to end at the time and place for eech payment ot prlnclpal and intereat, an tnstallment oi each of the lollow- 1ng chargea: (a) Texes and assessnents~ general or special. and ali other charges teWed or to be levled agalnst the premises. (b) Premtums to become due and payable tor, and to renew, the insurance on the premises againat loss by Sre end _...such other Mzsrds. castialties and contingencies as herein provided for or required irom time to time. The amount ot the respective monthly IastaUments shsll be equal to the amount ot the atu?uel respective charge next due tas estimated by We Mortgagee). less all installments already pald Lherefor. divided by the number oi raonthly la- atallments therefor becoming due not Lter than one month prlor to the due date oi any such cMrge aud shall be sub- ~ect to increase or decrease to tlie extent required to create-~ of a moethiy payment date on the note not less than one month prtor to the due date oi any sucl? charge, an amount sufficient for We psymenL thereof when due~ and payable. In no event ahall the Mortgegee receiving such psyment be llable !or any tnterest on any amount pald to 1t aa harein requtred, and the maney so received mqy be held with its own funds pending payment or application thereot as herein pmvided. The Mortgagor shsll furntsh unto the Mortgagee at least IIfteen days before the,:due date an olficial statement of the amount ot any taxes or asseasments next due. and such Mortgagee shall pay the above charges to the amount of the then unuaed credit therefar as and when they become severally due and peyable. The Mortgagee mqy~ at 1ts option. pay aay oi such charges wlien payable, either before or aiter they are deWiquen~ arithout aotice. or make advances therefor in excess oi the then amount at credit for said chargea. The excess a~aount advanced shall be immediately due and payable to the Mortg~?gee and shall be secured as an add[ttonal prindpal sum under thla instrument and bea~ the satne rate of interest imm date of advancement as the princIpal indebtedness. An offlcial recetpt therefor shal! be conclusive evidence ot such payment and ot the validity oi sach charges. The Mortgagee may appty credifs held by it for the above charges, or any part thereof. on account of any dellnquent instaliments oi prindpal or interest or any other payments maturing or due under this instrument and the amount ot credit existIng at tu?y tlme shall be reduced by the amount ~ therEOf paid or applied as Aereia pmWded. The amount oi the existing credit hereunder at the time oi any transter of the ~ property shall witRout assignment thereof inure to the bene8t oi the successor onvner of ihe property and shatl be applled under and subject to all oi the provisions hereof. Upon the payment in fuU of the indebtednesa, the amount of any unused credit shall be agplied to the payment thereof. The Mortgagee may collect e"late cherge" not to exceed four cents (4c) for each one dollar (s1.00) of each monthly installment payment requtred on tAe note end vnder this Mortgage whlch ls more than Sfteen (15) days in arrears, to cover the extra expense involved in handllng delinquent payments. 2. To pay. when payable. all taxes and assessments. general or special, water rents and ground rents and all other j charges whatsoever levied upon or assessed or placed against the premiaes, proviston tor which has not been made here- ' inbefore, and will promptly deliver the oHiciai receipts therefor to the Mortgagee; to llkewise pay all taxes, as~esanents and other charges, levled upon or assessed, placed or made against this instrument, or the indebtednqs or anq interest of the Mortgagee in the premises or the obHgations secured hereby, provlded that the payment oi any such ta~c affiess- _ ment or charge by the Mortgagor Ls not contrary to law or would not result in the psyment oi an unlawfal rate oi inter- est on the tndebtednesa hereby secure~l. In the event of the passage after the date of this instrument ot any law oi the State, or subdivision thereof, wherein the premLses are situated, creating or pmvid[ng for at~y tax. a~easment or charge which by the above pmviso 1s not to be paid by the Mortgagor, the indebtedness secured hereby together with interest due thereon, shail. at the optlon of the Morigagee, become immediately due and payable, and in the event payment there- of 1s not made forthwith, the Mortgagee may take or cause to be tbken such action or proceeding as may be taken here- under in the case of any other deisult in the payment of the indebtedness. 3. To keep the buitdings and additions thereto on or her+ea[ter erecied or placed upon the land insured against loss bq iire and such other hazards, casualties and cantingeRCies, 1ncluding war damages if at ~ any time a state of war exists or , ~ it appears to the holder of the note that war is imminent, and in such amounts and for such perlpds, as may be required from time to time by the Mortgagee, and to pay promptly when due all premiums on such insurance, prov(sion for pay= i 'i ment oi which has not been made hereinbe~one. The polides of i~surance shall. have losg pqyable proWaions acceptable to 'I the Mortgagee and shail be delivered to and held by the Mortgagee. or aa it may direct, until thls Mortgage is satistied. Renewal policies of insurance. premiums for which have been fully paid, are to !~e cirntshed to the Mortgagee at least Sfteen daya pdor to the expiration date of the insyrance thereby renewed. The insurance d~all be wrttten in companies approved by th2 Mortgagee; In no e~ent shall the Mortgagee be held responsiWe for failure to pay for any insurance written or for any loss or damage growing out of a defect [n any pollcy or growing out oL any lallure oi any insurance company to pay for any lo6s or damage insured agains~ In the event oi tois the Mortgagor ahnll give immediate notice by mail to tAe Mortgagee who may make proof of loss ii not made pmmpUy by the Mortgagor; each insurance rnmpany rnncemed is.hereby authorized and directed to make payment for loes d[recUy to the Mortgagee instead oi to the Mort- gagor and the Mortgagee Jointly; the insurance proceeds, or eny part thenwi, may be Applled by the Mortgagee, at its ' optlon. to the expenses, if any, incurred by it in the collection thereof, to the reduction oi the indebtedness hereby se- cured. to the restoration or repait of the property damaged, or reIeased to the Mortgagor without llabWtq vpon the Mort- ; gagee for such release. .~11 pollcies of insurance are herebq assigned to the Mortgagee as additionel securitq for the pay- 3 ment ot the suma and ~n[erest secured hereby; in the event of forecloaure of this Mortgage or other tranater o~ fltla to the f premisea in extinguishment of the indebtedness, all dght, title and iaterest oi the Mortgagor in and to any insurance j policles then in force shall pass to We purchaser or grantee. 4. To compiete within a reasonable tlme any butlding or buildings now or at any time in the process of erecUon upon ! the land and to promptty repair, restore or rebuild any bullding ar improvementa now or hereatter on the land which ~ may become daatiaged or be destroqed, and not wmmit or permit to be done or exist oa or about the premfaes anything ° whereby the premises ahaA become lest valuaDle• to comply wlth •a11 lavvs„ rules, regulawnns~ or ordinances oi anq govern_ mental agency and not violete or permit ihe violation at !o ihe premises oi anq building or uae restrictions; to keep the land and impmvements thereon iree ~om mechanids and matertalmea's llens and wql not suffer any lien superior to the lien created by this instrument to attach to or be eniorced against the premLses, 5. It detault be made in the payment ot taxes, as~essments, 1lena, claims, insurance premlums or any other charge whatso~wer, or auy part thereof. or in the peKoimance oi any act, to be pald or peKormed by the 1?iortgagor under the ~ pmvWons hereof. the Mortgagee may~ at its option, make payment thereof or perlorm any act requtred of the Mortgagor ~ In any iorm or manner deemed expedient and pay ar~y other aum ttiat b necessary to protect the security of thls instru_ ~ ment• the amounts so pafd, with Interest thereon irom the date of such PaYment at the satne rate as borne by the prin• cfpal indebtedne~s„ sha11 be assessed as sn additioaal lten on the premises and shall be added to aad beoome a gart ot Lhe lndebtedness secured herebq and be immediately due and payable to the Mortgegee. Any psyment hereby autlwrized to Le ~ made by the Mortgagee ma~y be made according to enq bill, statement or estimate fundshed or procured inom the appro. ~ prtute public offioe or the party cla5m[ng payrnent wlthout faqulry into the accuracy or vWdity theread. and the reoeipt oi any public oftloer or party in the hands oi the Morigagee shall be conciwive evidence of the validity and amount M itea~s - so pald: the MortQagee shsll, at its optlon. be subrogated to any encumbrance. llea~ cLim oc demand, aad to all the ri~hts ~ aad xcudtles for the psyment thereof, Paid or dischar8ed with the prlncipnl sum ~ecured hereby or by the Mort~e~et uader tllt prnvWoes hereof. and any such subrogatloa dghts stull be addttional and rumulatira aecurlt~ to thts Mort. B+~• ~ aoo~ i~1 ~46~ ~ ~ ~ ~_..k:~ _ _ . -