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HomeMy WebLinkAbout2491 ot the Morlgagee become [mmedlately due snd payable. wltRout noUce, and proceedinga mqy be instltuted by the Mort- gagee tor the recovery thereot by foreclosure ot this MortgaQe. or in say ot2~er manner penaitted by Lw as We Mort- gagee may elect. enythtn~ 1n the note or in thls Mortga~e oontalned to the contrary thereto notwitbstaadln~. Upon fore- : closure of this Mottgage. the Mortge~ce shW be Wowed as a pact of the Indebtedness secured henby~ and the Mort- gagor agreea to pay. ali costs and expenses Wcurred tn connectloa therewtth. including reasonsble attorney's fees, cost ot ; tlue snd tax search and the extenaioh to date o! an abatrs~t oi title or title poUcy; and !n caae such foreciosure psocecd- ~ ings are aettled before the consummeUon thereoL or We entry ot iudgmcnt, any auch costs and expenses and other ~ charges so incurred, lncludiag a re~sonable attoraey's fee~ ahell neverthele~ be paid. The Morigagee or any party in in- teres~ betng the hlgheat bWder~ may be a purchaaer at any foreclosure sate. Any elecUoa by the Mortgaeee as herPSn pro- 2 vided tqr may De exerafsed tmmediately up~u default, or at any Ume thereatter. and nothing sAW be consttved to be s ` ~ waiver of.uuch dght unless evidenced by an instrument in wdting to thst eIIect duly executed by the Mortgagee. The ~ Mortgagor waives atl r[~ht oi homestead aad exemptlon ~ranted by the Constltutloa and I.aws ot Florlde, AND THE MORTGAGOR FURTHER CUNVENANl'S AND ACREES: i. To pay tAe prlncipal indebtedness wtth lnterest as !n the note pmvided. To pe~y mor?thly unto the Mortgagee~ : in addltion to and at the time and piace for eacA paymeat of pdndpat and tnteres~ an lnatallment ot each oi the foUow- } ing cht~rges: (a) Taxes and e~ssessmenta. general or special~ and all other charges levied or to be kvied against the premLses. (b> Premiums to become due and payable for. and to renew. the insurance on the premfses agafnat loss by 8re and ! such other hasards. casualtles end contingeacles as hereln pmv[ded for or requ[red trom tlme to time. ~ The amoant ot the respecUve monthly installments shall be equal to the amotu?t of the annual respective charge next ~ due (as estimated by the Mortga~ee). les~ W installments alresdy paid therefor. divided by We number ot raonthly In- ' atallmenta therefor becomIng due not Lter than one manth prlor to the due date oi any auch charge aiW sha11 pe sup. ~ ~ect to increase or decrease to the extent requtred to create ai of a monthly payment dste on the note aotless than one ~ month pdor to the due date oi any such charge. an amount sa![icient tor the payment Wereot when due and payable. ~ In no event shall the Mortgagee recelving such peiyment be liable for any interestron any amount paid to it as herein ; required. and the money so recetved may be held with its o~m funds pending pqyment or application thereoi as heretn pmvided. The Mortgagor shali turnish eu~to ihe Mortgagee at least flfteen days before the due dete an oiticial statement oi the amount o1 any taxes or a~essmenta next due. and auch Mortgagee atiall pay the above charges to the amount oi the then unuaed credit therefor as end when they becoine severelly due uM payable. The Mortgagee may. at its option, pay any oi such chargea when payable, elther before or after they are del[nquent~ wlthout notice~ or make advances therefor in excess of the then amout~t of credit for said chargea. The exceas amount ndvanced ahall be immediatety due and payaDte to the Mortgagee and shall be secured as an addiUonal pHnclpai sum under Wa instzvment sad bear the same rate oi interest from date oi advancement as ihe prlncipal indebtedness. M olLicial receipt therefor shali be conclusive evidence of such payment and ot the validity of such charg~ea. The Mortgagee me~y app~yr credlta held by It ior ihe above charges, or any part thereof, on account oi any delinquent lastallments of prfndpal or lnterest or any other payments maturing or due under Uils instrument and the amount oi credit existii?g a~ uny time shall be reduced by the amount thereof patd or appHed as hereln provided. The amount of the existing credlt hereunder at the time o! any transier of the property shall arithout assignmeat thereoi inure to the ToeneBt oi the succeasor owner oi the pmperty and Mall be applled under and subject to all of the provLdons hereoL Upon the payment In tull of the indebtedneas. the amount of any unused credit shall be applied to the payment thereof. The Mortgagee may collect a'7ate charge" not to exceed four cents (4c) for each one dollar (=1.Ob) oi each monthly Inatallment payment requlred on the note and under this Mortgage which is more than flfteen (]5) days in arrears, to rnver the eatra expense lnvolved in handling delinquent psyments. 2 To pay~ when paysble, sil taxes and assessments. general or special, water rnnts and ground renta snd all other charges whatsce~er levied upon or assessed or placed against the premises, provis(on tor which haa not been made here- inbefore. and wilt promptly deliver the o8icial recelpta therefor to the Mortgagee; to likewlse pay all taxes, e~snents ~ and other charges„ levied upon or assessed, placed or made against this instruMent, or the indebtedneas or any interest of the Mortgagee in the premises or the obllgaUons s~ecured hereby, proWded that the paymet~t of anq auctt tau aa~_ ~ ment or charge by the Mortgagor is not contrary to law or would not result In the peyment oi an unlawtul rate pi lnter_ ; est on the indebtedness hereby secured. In the event of the passage atter the date of this instruzr.ent of any 1aw of the ~ State, or subdivLtion thereof. wherein the premiises are situated, creatIng or providing for aqy tax, assesQnent or charge ~ which by the above proviso is not to be paid by the Mortgagor. th~ indebtedness secured hereby together with interest due thereon. shali, at We option of the Mortgagee. become immediately due aad payable. and tn the event payment there- oi is not made torthwfth, the Mortgagee may take or cause to be taken such action or proceeding aa may be t~lCen here- ~ under 1n the caae oi at~y other default in the payment of the indeDtedness. ~ 3. To keep the buildings and additions thereto on or hereatter erected or placed upon the land insured against Ioss ~ by fire aad such other hazards, casusltles and contingeacies, including war damages it at any Wne a atnte oi war exists or P it appears to the holder of the note that war ia imminent, and In such e~mounts end for such perlods, as may be require~i ~ irom time to time by the Mortgagee. and to pay_ promptly when due all premiums on such Insuranee~ provision tor psy- < ment of which hes not been made hereinbefore. The policies ot inaurance ahalt have loss pa,yable prqvisions acceptable to ~ , the Mortgagee and shall be deitvered to and held by the Mortgagee, or aa 1t may dlrect, unUi this Mort ` Renewal policies ot insurance. premiums tor whjch have been 1nllY paid. are to be furnished to ~e ~~e is sstisfied. ~ rtgagee at lea~t ~ ~ IIfteen days prtor to the expiraUon date of the insurance thereby reaewed. The lnsurance shall be written in companfes , approved by the Mortgagee; in no event shail the Mortgagee be held respoasible for latlure to pay for any insurance ~ ' wriiten or for any loss or damage growing out of a defect in any policy or growing out oi any fatiure oi any i~uvrance ~ rnmpany to pay for any luas or damage Insured againsL In the event oi loae the Mortgagor shall give immediat~ notice i by matl to the Mortgagee who may make proot oi losa ii not made promptly bq the Mortgagor; each insurance company ~ ~ rnncerned ia.hereby authorize~},and directed to make psyment tor loss direcUy to the Mortgagee instead o1 to the Mort- ; gagor and the Mortgagee ~oirifly• the insurance proceeds, or any part U:ereoi, may be applled by the Mortgagee~ at its option, to the expenses. it any, Incurred by it in the collecUon thereof, to the reductlon oi the indebtedneae hereby se- ~ured, to the restomtion or rnpair of the pmperty damagec~, or released to the Mortgagor without llabilit}? upon the Mort- gagee for such release_ All pollcles of insurance are hereby assigned to the Mortgagee as addldonal securftq for the pay- ment of the sums and interest aecured hereby; in the event ot foreclosure oi this Mortgage or other tranater of tiUa to the premisea in ~extinguishment of the indebtedness, all right, tltte and interest of the Mortgagor in and to any in~wrance polides then in torce shall paas to the purchaser or grantee. ~ 4. To complete within a reasonable time any building or buildinga now or at any time in the prooess oi erection upoe tLe land and to prompUy repair. restore or rebtelld anq building or improvementa now or hereafter on the land w}dc2~ may beoome damaged or be destroyed, and not oommft or pernilt to be done or exist on or about We premises anything whereby the premises ahall become lest valuable; to comply with all lawa, rules, regulatlons, or oMinances of any gwern- mental agenry and aot violate or permit the violsUon as to the premleea oi any bulldiag or uae restrictiuns; to keep the land and impmvements thereon iree from mechaniNs and matedalmen's llens and wW not su~er anq lien superbr to the lien created by thls instrument to attach to or be eniorced agafnst the premises, 5. It detault be made in the payment of ta~ces, asseasments, llens, cla[ms, insnrance premiuma or any other charge svhatsoever. or any part thereoi, or in the perlormunce oi any act, to be pald or pertormed by tl~e Mo provWons hereof, the Mortgagee may, at its optlon, make psyment thereof or rtorm ,an act ~~r the Pe Y i'e4uired oi We Mortgagor ~ fn mq fonn or manner deemed expedient and pay s~? otber sum that is neoessary to ~rotect tlre securit~r oi thfa luttru- , ~ ment• the amouats ao patd, w1W interest thereon lrom t!?e date oi such payment at the same rate as borne by the pria- : c1pa1 indebtedneas. sball be assessed as an add(tional Uen on Ne premi:es and shsll be added to aad 6ecome a part o! the indebtedneas secured hereby end be immedfately due and payable to the Mortgsgee. My WYment 6exbY auUwrise8 to be made by the Mortgagee may be mede according to any bW. siatement or eatimate turnfshea or procured trosp the appro. priate public office or t6e puty ciaim[ng payment witbout inquiry into the aocuncy or valldlt~r ttserro~ aad the reodpt M any pubHe otrioer or psrty 1n the hands of the Mortgagee ahall be conclusive evidence oi the validlty and amount ot items w patd: the Mortgagee ahall, at 1ts optlon, be subrogated to any encumbraace. IIea. clsim ae demand, aud to all tLe righ4 sad ~ectidtles tn the psyment thereo~ Dafd or dl~chargM wltt? the princiWl sum aecured hereby os by tbs ][~e~ under tlfe provWons tureof. and ~ny such subm~atioa righ4 at~all be additional and cumulatlve aecutlt~ to tbls Mort- i+~6~• . gooK 181 ~~E 2491 ~5 _ -