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Home My WebLink About2479 i ) I ~ ~ ~ ~ ot the Mortga~ee become immediately due and payable. without notice. and proceecitngs may be inatituted by the Mort- gagee tor the ntiwvery thereot Dy toseclosure at thls Mort~a~e, or in any other manner pern~ltted Dy lew as the Mort- gagee may elect. anything !n the note or in thls Mort~a~e oontained to the contrary thereto notwlthstaadtn~ Upon fore- ctosure of thls Mort~ege, the Mort~agee shall be Wowed as a part ot the lndebte~t~esa aecured hereby. snd the Mort- ~agor sgrees to pay. W cceb ~nd expeNes lncuezM 1n connecUon therewith. incluQing rearoneble attorney's fees, cost ot title snd tsx seatch and the extenalo~ to date oi an abstract ot tttle or title poUcy; aad tn caae entch ton~ciosurc procecd- ings acr settled before the consummatlon thereof or the entry ot judgmen~ any auch coats and expenaes and other charges so incurred. indudln~ a reasot?eble attoraey's fee~ shall nevertheless be psid. The Mortgagee or aqy pe~rty in in? teres~ betng the higheat bldder, msy be a purchsser at any toreclasetre sale. My electlon by tl~e Mortgs~ee es herein pro- vided for may be exercised lmmedlatef~ upw? default„-nr at ~ny tlme thereatter. and not~ing Mell be const~ed to be a waiver of svch dght uNess evldenced by an lnstrument in writ[ng to that effect duly executed by the Mortgagee. The Mortgagor waives all rl~ht ot homestead and exemptiaa ~ranted by the Constltution and Lsws of Flodda. AND THE MORTGAGOR FURTHER CONVENANTS AND AGREFS: 1. To pay the principal indebtedness with Interest as tn the note provlded. To pay monthly unto tt.e Murtgagee. 1n edditton to snd at tAe time and place for each payment of prlncipal and interest. an instellment oi each of the follow- ing charges: (a) Taxes and asaes~nenfs~ general or special, end all other charges levied or to be IeWed against the premises. (b) Premiums to become due end payabie for. attd to renew. the lnsurance on the premises against loss by flre and ~ sucA other harards, c~sualtits and conW?geAdes sa hereln provtded for or-requtred irom time to tizne. i The amount of the respectlve monthly Installmen4 shall be equal to the amount oi the annual respecUve charge next ' due (as esttmated by the Mortga~ee). leas all installments alceady paid theretor. divided by the number ol monthly !n- ~ stallments theretor becoming due not later than one month prfor to the due date oi aqy wch charge and shall be sub- ~ ject to incrrase or decrease to the extent required to create aa of a monthly paymeet date on the note aot leaa than one ~ month prior to the due date of any such charge. an amaint su8iclent for the pelynaent thereoi when due~ and payable. ~ In no event shall the Mortgagee receiving such payment be llable for any intereat on any amount patd to it as herein required. aad the money su recelved me,y be held wtth its own funds pending paymeat or applicatUon thereoi as hereln provlded. The Mortgagor shall furNsh unto the Mortgagee at least SiteeA daya betore the due date an otficial statement ~of the amount oi any taxes or a~?ents next due. end such MortgaQee slull pay Lhe above charges to the amount of the then unused credit theretor as and when Wey become severally dus and payable. The Mortgagee may, at its option. pqy any oi such charges when payable. either before or aiter they are dellnquent. wlthout notlce, or malce advances therefor tn excess of the then amount of cred(t ior ssid charges. The exceas aawunt advanced st~alt be lmmediatel,y due and payable to the Mortgugee and shall be zecnred as an addiUonal princ[pal sum under tWs instrument and bear the same rate ot interest irom date oi wdvancement as the princlpal indebtednesa. An official receipt therefor aha~ll be conclusive evidence of auch payment and ot the validity oi such charges. The Mortgagee mqy app;j? credits held by it for the above charges. or any part theirof, on account oi any delinquent installmenta of princlpal or inter~st or any other payments maiuring or due under this iastrument and the amount of credit existing at nnY tlme shall be reduced by the amount j fhereot patd or applied as herein provided. The amount oi the e~dsting credit hereunder at the time of anq transter oi the # property shall a+ithout assignment thereoi inure to the bene8t oi the aucceasor owner oi the pmperty end shajl be applied t under and subject to all of the provLtio~ta hereoL Upon the payment 1n full of the Indebtedness„ the amount of any ~ unused credit shall be appIIed to the payment thereof. ; The Mortgagee may collect a"late charge" not to exceed four cents (4c) for each one dollar (i1.00) of each monthly lnstallment payment required on the note and under thtt Mortgage whlch is more than Stteen (15) deys in arresrs. to cover the extre e~cpense Involved in handling dellnquent pyyments. 2. To pay, when payable, all taxes and asseasments. general or speclai. water renls end ground renta end all othec charges whatscever levied upon or asteased or placed against the premises. provLsion for which iias not been made here- fnbefore. and wW prompUy deIIver the oStcial receipts theretor to the Mortgagee; to Wcewtse pay all t~uces, ssse~tnents ` and other charges. levied upon or assessed. placed or made agatnst this instruihent~ or the indebtednesa or any interest ot i the Mortgagee in the premises or the obligaUons secured he~by, provided that We p~yment of any such tax aasess_ ° ment or charge by the Mortgagor Ls not contrary to law or would not result in the payment of an unlawlul rate of inter- ; est on the indebtedneas herebq secured. In the event of the passage after the date of this instrument of any taw oi the ~ ' State. or subdivision thereot. wherefn the premises are situated. creating or proWding for any tax, asseavnent or charge I which by the above proviso is not to be paid by the Mortgagor, the indebtedness secured hereby together wlth intereat due i thereon. shall, at the option of the Mortgagee, become ur?mediately due and pnyable. aad in ihe event payment there- oi b not made iorthwith, the Mortgagee may take or cause to be taken such action or proceedjng es may be talcen here- under in the case oi any other default in the payment of the indebtedness. 3. To keep the buildings and addit[ons thereto on or hereafter erected or placed upon the land Insured agafnat lo~ by Sre and sucD other hazerds, casualttes and rontingencies, including wer damages ii at aqy time a state oi war e~sts or 1t appears to the holder o! the note that war is linminent~ and ln such amounts and for such periods, as may be requfred irom time to time by the Mortgagee, and to pay ~romptlq wheh due all premiums on such insurance, proviaion for pay- ment oi which has not been made hereinhefore. The polides oi inaurance shall have loss psyable pmviaions acceptable to the Mortgagee and shall be deHvered to and held by the Mortgagee, or as it may direct, untii this Mortgage is aatistted. Renewa! pollcies ot insurauce. Premtums.lor whtch_have been fully paid, are to be furt~Wled to the Mortgagee at Ieast BLteen days prior to We expiration date of the insurance thereby renewed. The lnsurauce shal} be written in ~p~~ approved by the Mortgagee; Yn no eveat sha11 the Mortgagee be held respoasible for tailure to pay tor any insuranee ~ wr[tten or for any lo~s or damage growing out of a detect in any policy or growing out of any falluce oi any insurance rnmpany to pay for any loss or damage insured againsL In the event of loas the ~fortgagor ahall give imnnediate notice ~ by mail Lo the Mortgagee who may make prooi oi loas if not made prompUy by the Mortgagor; each insurance company j ooncerned is, hereby authorized and directed to make payment tor losa directly to the Mortgagee lnatead oi to the Mort- R gagor and the Mortgagee joinUy; the insurance proceed~ or any part thereot. mey be applled by the Mortgagee, at ita ; option, to the expenses, if any, incurred by it in the collecUon thereof, to the reduction of the indebteduesa hereby se- ~ cured. to the restoration or repair ot the prnperty damnged, or released to the Mortgagor arithout Ifability upon the Mort- ; gagee tor such rriease. All poHdes ot insurance are heseby assigned to the Mortgagee as additlonal securlty for the pay- ment of the sums and lnterest secured hereby; in the event ot foreclasure of this Mortgage or other transter oi titlo to the s premises in extinguiahment oi the indebtedness, all right, tltte and Interest ot the Mortgagor In and to anq ins~ran~e polldes Wen in force shall pat~ to the purchaser or grantee. 4. To complete withln a reasomble time any building or buildings now or at any time in the prooess oi erecUon upon ~ the land and to promptly repair. restore or rebuild any building or impmvements now or hereafter on the land which t may be~ome damaged or be destroyed, and not oommft or permtt to be done or e~dst on or about We premisea anything ~ whereby the premises shall become lesa valuable• to comply with all•laws, rales, regulntions, or ordinances of any go~vern- , mental agency and not vtolate or permit the Woladon as to the premfses oi any building or vae restrtction~; to keep the { land and improv~menta thereon tree irom mechanlNs aud materialmen a liens and wW not sulfer any liea superior to the ~ llen created by this Instrumettt tp attach to or be eniorced against the premises. 5. If detault be made in the payment of taxes, asseavnents, liens, claims, insurance premlurr~a or any other charge ~ whaLsoever, or any part thereoi, or in the performaace oi any act, to be paW or peKormed by the ~t~agor under the provWons hrnwl. tLe Mortgagee may, at 1fs option, malce p~yment thereof or pertorm any ad requt~( M the Mortgagor ~ ia any form or maaner deemed expedtent snd pay any other aum ihat 1~ necessary to protect the aerurl~y ot this fnstru- ~ ment; the amounb so paid~ with fnterest ther+eon irom the date oi auch psyment at t6e same rate as borne by the prln- clpel indebtednea~. sbW be as~eased aa an addltlonal IIen on the premises and ahall be added to and beooma s put M the i indebtedn~as securnd hereby and be lmmediately due and payable to t1?e Mortgsgee. MY WY~ent hereby wtlwriu.d to be made by the Mortgagee may be made accoMing to any blll. statemeat or estlmate furnist~ed or procured trpm the appt+u. priate publlc o~ice or the party clatnilng payment without lnqutry tnto the aocvracy or valldtty thereo~ aad the recefpt of any public o~oer or party in We lsands oi tht Mortgagee shall be concluaive evldence oi tbe vaUdity ~ a~nount oi items w paid; the Mortgagee s6a11, at tts optlon, be subrogated to any encumbrance, llen, claim or demand~ and tp ail th~ r[~hv and sccudtld tor the Qeyment lhrrao~ Pala os' di~arSe~ with the P~clPa1 sum xcurid hereby os by the MortQa,~ee under tHe PravWoas Aereoi. and aay such wbrogation rfahta sAall be ~dldonal aad cumul~tive ~ecurit~ to tbfs Mort- BQOK1~7~ PACE2419 f ~ ~.u.= ~ - - - ~ _ . _ = _ - ~ ~