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Home My WebLink About0919 } ~ ' + ~ ~ ot tDe Aiort~agce become immediately due snd~e. without notice, and proceedinYs may be insUtuted by the MoK- ~aYee tor the recovery tl~ereo[ by foreclosure thL Mort~e, or In eay other manner pernattted by la~r as the Mort- Qegee may eleM. aayth[a~ ia the note or in thls Mortga~e oontatned to the contrary thereto notwltLstaadin~. Upon Lore- ctosure of thls Mort~a~e. tAe Mort~a~ee sh~ll be aUaared as a part of t1~e indebtedness secured hereby. and the Mort- gagor agrees to pay. all costs and expeases lncurred in conuecUon therewith. Incauding reasonaDle attorney'~ fees, cost ot title and tax search and tAe extensloa to datc of an abatract oi tltle or title pollcy; aad in case wch toreclosure procecd- ings srr setUed betore We consummation thereot or the entry ot judgment, any auch costs and expeasea and other charges so lncurred. lncludin~ a reasonable attorney's fee. shall nevertQeless be paid The Mortgagee or sny party in in- teres~ being the highest bldder, may be a purchaser at my toreclasure sale. Any electioa by the Mort~a~ee aa Dereln pro- vided for may be exerclsed laimedlatdy upon defeul~ or at any Ume thereafter, and nothin~ shaU be construed to be a waiver ot such right unless evidenced by an Instrument in writlng to that ef[ect duly executed by the Mortgagee. The Mortgagor wa[ves all ri~ht of homestead sad exemptia? ~canted by the Constltution and Laws ot Fiorida. AND THE MOR'L~GAGOA FURTHER CONVENANTS AND AGREES: 1. To pqy !he principel indebtedness wit!? interest as in the note provided. To pay monthly unto the Mortgagee, in additioa to and at the time and place for each payment of principal and iaterest, an installment oi eacl~ oi the tollow- ing charges: (a) Taxes and as~esQnents. 8eneral or specisl, aad all other charges levied or to be IeWed againat the premixs. lb) Premiua~s to become due and payable for, end W renev~, the insurance on the premises against loss by flre and such other haards. caswltles and contingencies as herein provided tor ur cequired irom dme to time. The amount of the respecitve monthl,y instal!tnents ahall be equal to the amount of tAe annual reapeMive cherge next due (aa esttmated by the Mortgagee). les~ aD instsllments alreadY paid therefor, divWed by the number oi monthly in- stallmeats tberefor becoming due not Lter than one month prior to the due date of aqy such cbarge and shall be sub- ject to increase or decrease to tt~e extent i'MW~ ~~te as of a monthly payment date on tAe note not less than one month prior to the due date oi any such chai'Se. an a~wunt sufficleat tor the payment Wereof wnen due and payable. In no e~-ent shell the Mortgagee receivlt?g such payment De Uable for any iaterest on aqy amount paid to it as herein required, and the money so received may De heid w[th 1ts own Lunds pending payment or application thereoi as herein provided. TAe Mortgagor ahall turnlsh unto the Mort~agee at leut Siteen dsya betore the due date an oIIicjai atatement of the amount of eny taxes or aasessments neut due. and auch Mort~a~ee shall pe~y the above cMrges W the amount of the then unused credit therefor aa and when they become severWy due and paYeble. TRe Mortgagee may. at its option, pe~y any of such charSes wAea payable. elttier Defore or after they are deW?quen~ without notlce, or make advances therefor in excess o! the then amount oi credit for saW char~es. The exoas amount advanced shali be 1a~mediately due and patiyable to the Mortgagee and ahall be secund as an addit~ooal Prtndpal sum under Ws taatrume~?t and bear the ~ame rate of interest irom date oL advancement aa the priucipal indebtednest. An oSiclal recdpt theretor shall De conclusive evidence of such payment and ot the validtty o! wch charQes. The Mortgagee m~y apply credits held by it for the abo~ e charges, or any part thereoi, on account of any deUnquent installments of prindpal or interest or any other payments maturing or due under this instrument and the amount of credit existing at aaY time shall be reduced by ttie amount thereoi paid or appIIed as hereln pmvided. 1Le aMOUnt oE tl~e exiating credit hereunde. at the Ume of any tranater ot the property shall without assignment thereoi Inure to the beneflt of the wccessor owner ot the property and shall be applied under and subject to all of the provisiona hereof. Upon the payment In full of the indebtedness, the amaunt of any unused credit shall be applled W the peyment thereof. The Mortgagee may collect a"late charge" not to exceed tour cents l4c) tor eact? one dollar (i1.00) ot each monthly [nsiallment payment required on the note and LLnder this Mortgage which is more than flfteen (15) days in arreacs, to cover the eMra expense Involved in handling delinquent paymenLS. 2. To pay, when psyaDle, all taxzs and assessments. generat or special, water renta and ground rents and all other charges whatscever levied upon or as9essed or placed against the premises, provision for whicn has not been made here- inbefore, and will prompUy deliver the o~cial ceceipts therefor to the Mortgagee; to likewise pay all taxes, assessnents and other charges. levied upon or assessed, placed or made aSainst this instrument, or the indeDtedness or any interest oi the Mortgagee in the premises or the obligations secured hereDy. provided that t6e psyment of any such tax sasess- ~ ment or charge by the Mortgagor is not contrary to law or would not result in the psvment of an unlawfitl rate oi inter- est on the indebtedness hereby secured_ In the e~•ent of the passage after the date oi tlus fnstnunent of aay law ot the State, or subdivtsion thereof, wherein the premises are situated, creating or pmvidLig tor any tax. asseaunent or charge j which by the above proviso is not to be paid by the Mortgagor, the indebtedness aecured hereby together with interest due j thereon, shall. at the option ot the Mortgagee, become immediately due and pdyable, and in the event payment there- ~ of is not made forthwith, tAe Mortgagee may take or cause to be taken such actioa or proceeding as may be taken here- ; under in the case of any other default in the payment of the indebtedness_ = F 3. To keep the buildings and additions thereto on or herealter erected or placed upon the land insured against lass ~ by fire and aucn other hazards, casualties and contingeaci~s, including war damages ii 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 tor such periods, as may be required $ irom time to time by the biortgagee. and to pay promptly when due all premiums on such insurance, provision for pay- ~ ment of which has not been made hereinbefore. The policiea of insurnnce shall have loas payable pmvisions acceptable to ~ the Aiortgagee and shall be delivered to and held by the Mortgagee, or as lt may direct, unW this ~[ortgage is satis~ed. ~ Renewal policies ot insurance. premiums for which have been [ully paid, are to be furnfsAed to the Mortgagee at leaat ~ IIfteen days prior to the expiration date of the insurance thereby renewed. 'The Insuranoe shall be writtea in companies ~ approved by the ~tortgagee; in no event shall the Mortgagee be held respoasiWe for tailure to pay for any Insurance written or tor any loss or damage growing out of a detect in any pollcy or growing out ot any fallure oi any insurance ~ company to pay tor any loss or damage insured agains~ In the event ot loss the ~ortgagor shall give [mmediate notice by mail to the Mortgagee who may make proof of laas if not made promptly by the Mortgagor; eacli insurance company conceraed is hernby autho~(zed and directed to make payment tor los4 directty to the Mortgagee tnstead of to the Mort- ~ gagor and the Mortgagee joinUy: the inaurance proceFds, or any part thereot, may De applted by the Mortgagee, at its option, to the expenses, it any, incurred by it in the collectlon thereof, to the reduction ot the [ndebtedness hereby se- ~ r_ured, to the restoration or repair o! the property damaged, or released to the Mortgagor without liability upon the Mort- ~ gagee for such release. All pollcles of insurance are hereby assigned to the Mortgagee as addiUonal security for the pay- ment ot the sums and interest aecured hereby; in the event ot torecloaure o[ thls Mortgage or other transter M titlo to the ~ premLses in extinguiahment oi tt?e indebtedness, all dght, title and Interest of the Mortgagor In and to any insurance ~ policies then in force shall pass to tIIe purchaser or grantee. ~ 4_ To complete within a reasonable time any building or buildings now or at any t[me in the process of erecfion upon ~ tbe land and to promptly repair, restore or rebulld any building or improvements now or hernafter oa We land which - may become dairaaged or be destroyed, and not commit or permtt to be done or exist oa or about the preml~es anything whereby the prem~es shall become less valuable; to comply with all laws, rules, reguladons, or ordinances of any govern- -Y mental agency and not violate or permit the violation es to the premLges oi any building or use restrictions; to keep the _ land ar?d improvements tLereon iree from mechanic'a and materialmen's llens and wtll not sutter any Hea super[or to the - lien created by thLs instrument to attach to or be entorced against the premives. S_ I[ detault be made in the payment oi ta~ces, assessments, liens, claims. inaurance prnmiums or any other charge - whatsoerrer, or any part thereof, or in tAe pertormance of any act, to be paid or pertormed by the MortQagor under the provWons hereof, 4he Mortgagee may, at fts option, make pqyment thereot or pertorm auy act reqWred of the Mortgagor ~fr in wy form or manner deemed expedieat and pay aqy other sum that is necesswry to protect the securlq? of thfs Wstru- F=; meat• the amounb so pald, with interest thereon trom the date o! such psyment at ths satne nte as botne by the prin- _ clpal ~indebtednea~, shW be ~sse~ed as an additlonal lien on the premises and shall be added to and become a part oi the :3 Indebtedne~ secured hereby and be imme8lately due aad pwyab~ to the Mortgagee. Any p~yment hereby authori~ed to be - made by Ne Yort~ee rn~y be made according W any bW. statement or estimate furnWied or procured iram the appro- prlate public o~ice ot tse puty clstmins payment without inquiry into the accuracy or vaLditp tAen~ ~nd t~e receipt of any putilic o~io~t or pat'~ ln W~ Aands ot the Mortga~ee sLall be conclLLSive evidence ot tbe validlty aod ~im~at Qt ttem~ 4~~ w pdd: the Mezt~ee a~bali. at it~ option, be subro~ated to aay encumbrauce. Uen, eWm ae demand, and to all the ri~hti an8 acudties fot the p~,yment thetloi. paid or dlschar~ed ~vlth the PrinciQal sum se~cured hereby ot br tLe Moct~ee under tAe provWoas I1ereM. ~ad aa~ such subm~ation rl~his stu~ll be ad~ltlonal and cumulative secudt~ to tbls Mort- i~- = ~~xi~ r~c~ 9~8 _