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Home My WebLink About2487 ot the Mortgagee become immedtately due and psy able. wlthout notlce, and proc~eedings may be fnsUtuted by the Mort- gagee 1or the recovery thereot by forecloaure o[ thls Mort~a~e, or in any other menner permltted by Lw as the Mort- : gagee mqi? elect, anythln~ ie~ the nota or in tA1s Mortga~e oontalned to the oontrary U?ereW notwlthstaadin~. Upon fore- ~ ctosure oI Nis Mortgage. the MortYaQee shal) be allowed ~s a pact of the tndebtedness aecured Aeteby~ aad the Mort- gagor agrees to psy~ sU casts and expenses incurred 1n connecdon therewtth. including reasonable attorney'i fees. cast ot ~ t1Ue snd tax sesrch and the extension to date ot en abstract ot tiUe or title poUq; and !n caae such ioreclosure • proceed- ~ ings are setUed before We consummaUon thereot or tl?e entry ot iudgmen~ any such costs and expenses aad other charges so incurred. tnduding a reasonable attorne~'s fee. shall nevertheless be patd. The Mortgagee or aqy party !n !n- ~ ttrest, being the highest Dldder. may be a purchaser at any foreclosure aale. Any elecUo~? by the Mortga,~ee as herein pro- e vided for may be exercLsed 1~nnnedletely upon deLul~ or at ~ny time thereaiter. and nothing ahW be construcd to be a + waiver of auch rlght ualeas evidebced by sn instrument !n wdting to that e![ect duly executed Dy We Mortgagee. The ~ Mortgagor waives all rlght oi t~omestead and exemptlon ~tanted by We CoastituUoa and Laws oi F`lorlda. ~ AND THE MORTGAGOR FURTHER CONVENANTS AND AGRE:FS: ~ 1. To psy the prlnclpal indebtedneaa wlth interest as in the note pmvtded. To pay moAthly unto the Mortgagee~ in addition to and at the tlme and place for each payment ot principal and lnteres~ an instaliment ot each oi the follow- tn8 cluu'Ses: ; (a) Taxes and assessments. generai or speciai, and all other charges levled or to be levled agalnst tha premises. (b) PremIums to becotne due and payable for, and to renew, We insurance on the premises agalnat loos by 8re and ~ such oWer hazarda„ casualtles and sontingencles as herein proW$ed for or required irom time to time. a The amount of the respective monthly lnstaUments shall be equal to the amount of the annual ve c due tas estimated b We Mo her8e next y rtgagee)~ leas al! insWlanents already paid therefor, dtvlded by tbe number M monthly !n- stallments therefor becoming due not later thsn oae month prbr to the due date oi atq? sucd cbarge a~W ahall be aub- fect to increase or decreaae to the extent required to create ~s of a monthly payment date on the rwte not teas than one i monW prior to the due date oi aay such charge. an smoant sui[ic[ent for the psyrpeA~ thereof when due and payable. In no event shall the Mortge~gee receiving such payment be llable for any interest on any amount psld to lt ~s herein ~ required~ and the money a~ received may be held with !ts own funds pendibg payment or spplicatioa thereof as herein ~ pmvided. The Mortgagor shall turnish unto the Mortgagee at least IIfteen days before the due date an official stetement ~ of the amount o! any ta~cea or asseaQnents aext due. and sucl~ Mortgagee ~ha11 pay the above charges to the amouat oi the then unuaed cirdit therrior aa and when theq be~come severally due end payable. The Mortgagee mqy~ et its option, pay any of snch charges when pa~yable. either before or atter they are dellaquent, wlthout noUce~ or make advances ' therefor in excesa oi the then a~nount oi credit for aatd chargea Tbe exceas unount ad"auced shall pe lmmediate~y due 3 and payable to tRe Mortgagee and ahall be secured as an addittonal prindpal sum under this instrument and bear the same rate ot interest irom date oi advancement as tt?e princtpal iadebtedaeas. An oQtdat reoetpt theretor shall be conclusive evidence ot such payment and oi the validitq ot such charges. The Mortgagee me~y appiy credits held by it for the above ' charges, or any part thereof. on account oi any delinquent installments of prindpal or lnterest or any other payments ° maturing or due under this instnunent and the amount ot credit existing at any time ahall be reduced by tt?e amount ~ thereof paid or applied aa herein pmvided. The amount of the existing credit hernunder at the time of any transter of the property shall without assignment thereo! inure W the bene8t ot We successor owaer oi the property and shall be applied ' under and subject to all oi the provlstona hereoL Upon the payment in full of the indebtedness„ the amount of any ~ unused credit shall be applled to the payment thereot. The Mortgagee may collect a"late charge" not to euoeed four cents (4c) fot each one dollar (=1.00) of each monthIy installment payment required on Lhe note and under tbls Mortgage which is more than 8tteen (15) days in arrears, to cover the extra expense involved in handling deltnquent pe~yments. 2. To pay, when payable. sll taxes and asseasments. general or special, water rents aad grouad renta and all other chargea vrhatacever leWed upon or asses~ed or placed against the premises, pmvision for whlch haa not beea made here- inbefore, and wW prompUy deliver the o8icial receipts therefor to the Mortgagee; to likewise pay a11 teuces, e~essmeats and other charges. levied upon or assessed. plnced or made aga[nst thfs instruYhent~ or the indebtedness or nny interest oi the Mortgagee in the premjses or the obligations secured hereby. provided that the payment o! any such tax as~_ ~ ment or charge by the Mortgagor is not contrary to law or would not result in the payment of an unlawlal rate of inter- ' est on the Indebtedness hereby secured. In the event of the passage after the date of this instrument of anq law ot the a State, or subdivls[on thereot. wherein the premises are sttuated, creating or provid[ng ior any tau. aa9eaunent or charge which by U?e above proviso 1s not to be paid by the Mortgagor, the indebtedness secured hereby together with interest due + thereoa. shall, at the option of the MorLgagee, become immediately due and payable, and in the event payment there- , of ts not made forthwith. the Mortgagee may take or cause to be taken such action or proceeding as may p~ ta&en here- f under 1n the case oi any other default in the payment of the indebtedness. 3. To keep the buitdings and additIons thereto on or hereatter erected or placed upon the land tasured egainst loss - ' by rire and such other hazards. casualties and contingemcies, lncludir?g war damages if at aqy time a state of war e~dsts or ~ i it appears to the holder of the note that war is imminent, and in such amounts and tor auch perlods, as may ye required imm time to time by Lh~ Mortgagee, snd to pay pmmptly when due sU premiuma on such insurance~ pTpvL~(pn for pay- z i ment of which has not been made hereinbefore. The polides of insutance ahall have loas p~yable provlsiona acceptable to ; the Mortgagee and shall be del[vered to and held by the Mortgag+ee. or aa it may dic~rc3; untll itds Mo rtgage is satL4Hed. - Benewal policies of insnrance,. premiums for whlch have been lully paid. are to be fumished tp the Mortgagee at least ~ 8tteen days pdor to the expiration date oi the insurance thereby reaewed. T6e insurance st~aii be wtitten ~~p~~ s ` approved by the Mortgagee; in no event shall tt?e Mortgagee be held responsible for fallure to ` written or for any loss or damage growing out of a defect in any pollcy or PaY for any insurance ; growing out oi any iailure of a~y insurance rnmpany to pay for any Iass or damage insured against~ In the event oi loss the Mortgagor shali give 1a~edlate noUce i by mail to the Mortgagee who may make proof oi lost If not made pmmptly by the Mortgagor; each lnsurance comgany ` concerned Is.hereby suthorized and dfrected to make payment for loas directly to the Mortgagee instead of to the Mort- _ gagor snd the Mortgagee joinUy; the insurance proceeds, pr any pert thereof, may be applled by the Mortgagee, at its ~ option, to the expensea, tf any~ lncurr~d by it in the collection thereoi. to the reduction of the fndebtedneas hereby se- ' cured, to the resioration or repair of the pmperty damaged. or released to the Mortgegor wtthout I1abWtq upon the Mort- gagee for such relea~. All poHdes of inaurance are hereby aasigned to the Mortgagee ag additlonal securitq for the pay- ''s, ment ot ihe aums and interest secured hereby; in the event oi foreclosure of this Mortgage or other transier oi titlo to the 5 premises in extingulshment oi the it~debtedness, all rlght, title and interest oi the Mortgagor Sn ~nd to anq insurance policles then in force shall pass to the purchaaer or grantee. 4. To complete within a reasonable time any building or bulldings now or at any time in the prooess oi erectton upon ~ the land and to prompUy repalr. restore or rebuttd any building or [mprovements now or hereafter on the land whlcb may becoine dsmaged or be destroyed, aad not oommit or permit to be done or exist on ar about the prea?ises anything ~ ! whereby the premises shall become less valuable; to comply vqith all Jaws, rules, regulattons, or ordinances of any govern- _ E mental agenry aad not violate or permlt the violaUon as to the ptemLtes of an,y bullding or uae resttlctions; to keep the ` ~ Lnd and improvemeiNs thereon iree irom mechanic's and materialmen's llens and wW not sufter aaq lien superiur to t6e ~ Uen created by this instrument to ettach 40 or be enforced agaIrtst the premi~es. ~ 5. It detault be made in the payment oi taxes, ass~rnenta, liens, claima~ insuranee prem~~ or anq ot6er charge ~ wMtsorver, or any part thereof, or in the pertormance oi any ac~ W be patd ar pertormed by the Mortgagor under the ' pmvlsions hereoi. the Mortgagee may, at its opYton, make psyment thereot or pertorm any act reqnlred oi the Mortgagor ; 1n any form or manner deemed expedient and psy any other sum that is neceasary to protect th~ secuHty oi thls fnstsu- ! ment; the amownts ao paid, wlth lnterest thereon irom the date oi such payment st the saane rate es borne by the prin- 1 dpal indebtednea, ~all be ass~ed as an addltlonal llen on the premisea and shall be added to and beoome a part o! the ; indeDtedneas secured herebq and be immediately due and payable to the Mortgagee. Any payment hereby authorl~ed to be ~ made by the Mortgagee may be made according to a~ny bW, stateraent or estimate furnished or procured irom t6e appro- prfate pubHc oaice or the party cWminB P~Yment witbout inquiry lnto the aocuracy or vaUdi the any publle o~toer or party in the hands oi the Mortgagee ahall be conclusive evldence of the a11di~ an~ unaunt oi 1pte~ w paid: the MortBagee sbail. at its optlon, be wbrogsted W anq encumbrance. 1len. clalm ar deauad, and to all ihe rtghtr aad sccudtla for the payment Wereof, Paid or discharged with the princlpal sum recured herebY or by the Mart~a~ee wMer t!?e pravidons hereo~ and ~ny such subro~ation rlahts alull be addltlonal and cumulatlve ~ecudty to tNs Mort- i BooK 181 PACE2487 ~ ~ ~ _ . - _ : W ~c ~ _ 1 . _ _ ~ - ~.e~ t~~