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Home My WebLink About0634 ~ . - 4 - . . i ~atisiactory to ti~e iiort~a~~e, sY:al~ be rzelivered pr~: ptly ~o the :~Ior~- j ~ , ~agee . The r'Iortida~or will pay pror~ptly when d~:e , as ~ereir.aiter pro- vided, any an3 ali pre~iu~as on such insurance, and in every case in which ~ayment thereof is not made from ihe deposits tiherefor required by this .~,ort~age, promptly submit to the ~Iorzgagee for eaamin~tion-receipts or ~t~;er evidence ~f such payment as shall be satisfactory~to the i~:ortgagee. ~~ae rlorigagee c~ay ~btain and pay the p~emium on (but sh~ll 'oe under no obligation to do so) every '~ind of ir.surance required hereb~r i~ the aaount ~i such premiu~n has not been deposited as required by tris i~~rtgage, in ~,ti~:~ich even ~ tY:z ~iortgagor will pay to the ylortgagee every premium so paid ~ oy the N~or ~bagee . - _ _ (b) In the event oi loss or dauage to the mortgagec praperty, ~he Mortgagor will give to tY.a i~Iortgagee immediate notice tY:ereof by :::ail, and ~'ne i~ori~a~ee may ma'~e and file proof of loss if r.ot ~ade other- - ~.r'se promptly by or on behalf of the Mortgagor. ~ach insurance company :ssuing any su~:: policy is 'c~ereby authorized a-nd directed to make paymer~t ~:~ereunder for sucb loss to the Mortgagor and the Mortgagee joint~y, un- yass the amount oi loss is payabie first to ~he holder of a lien under a ::ortgage or similar instrument to w'nich this Mortgage is expressly subject; ~.rld the insurance proceeds or any part thereof if received b;~ the Mortgagee Way be applied by the 2:ortgagee, at its option, either in reduction of the '_r.debtedness hereby secured, or to ~he restoration or repair of the mort- ~aged property camaged. In t'ne event of foreclosure of this Mortgage, or ~ any transfer of title to the mortgaged property in extinguishment of 's ~ ~uc:~ indebzedness, all right, title and interest of the Morzgagor in and to ; , every such insurance policy then in force, subject to the rights and inter- ; es~s of the holder of any such prior lien, shall pass to ~he orantee ac- ~ ? :~.~iring ti~le to the mor~gaged property together with such policy and i ~ a.ppropriate ass~nment of such right, title and interest which shall_be ~ ! :~:ads by t'ne i~Iortgagor. + : } 7. (a} In order more tully to pro~,ect the security of this I~ortgage, ~ ~^e Mortga~or shall deposi~ wiih the Mortgagee together wit~, and in addi- ~ ~~on to, tae ~ayment of principal and intierest monthly on account of the 6 ~ =:ote secured hereby, until the Note is paid in full, an amount oi money ~ ~qual to the total a:~ount of (i) groun3 rents, if any, next becoming due, ~ ~ii) the premiu~s next becoming due on the policies of fire and all other ~ ~ ::azard insurance required by this Mortgage with respect to the mortgaged ~ ~ - ~ .roperty, (iii) taxes, assessnents, water rates and other governmental ~ ::~:arges r~e~t beco~ing due on the mortgaged property (all t~e foregoing ~ ~ a;~ounts as estima~ed by the Mortgagee and set forth in a wri~ten notice ~ ~ ~i such estina~e bf tne IY:ort~.gee to the rTortgagor from time to time), ~ess all a~aur.ts ~:~at may already r.ave been paid thereior, dividec3 by the ~ r.um~~~ -z~~ d.. ~ ~,~t~- E~d~3S--~2~T-2--6~~-~Enr3~r marit.h 1~ri or to the ~ate when suc'r: orou:~d rents, premiuns, taxes, assessments, ~:ater rates and ~ ~~ner gavern~ertal c'r.arges, respec~ively, will bec~me due and payable. ' =-t ; ~g any a~:oanz referred to in clauses (i) t'nrough (iii) hereo~ is required ~ o ~ be dep~s~ted t;~ the Mortgagor under a mortgage or similar instr~:ment ~ ~ -avin ~r~ ~riz over ~'ne lien of this ~iort~a e the I~Ior~ a or shall ~a'~e F"'~ ~ ~ ~ y ~g ~ gg rn I ~'~:z depos~_ ~s required 'oy ~his Paragraph 7 cnly in the event of the ter- ~ ~ ? _~~:~at~or. c~ sucY, obligation under ~~.a prior mortgage or similar instrument~ ~ ~~:e ~~forioagor s'nall ~~ve prom~t no ~ice in writing to the ::ortgagee of the ~ ~ ~ ~r t~e i~:: ~ ~entioned event. Al? such a.mour.ts ~o - - C,ti~ a - - - - - _ - ~ . " u ~ . _ _ . ~ _ _ _ . ~ v=~