Loading...
HomeMy WebLinkAbout1290 ;i ~ ~ ~ ~i~ ~t+ . i, ' ot the :~iortgagee become ttnmedlately due and payable, without notice, and pcoceedings may be insdtuted by the Mort- gagee for the recovery cAereot by loreclosure ot thla Mortga~e. or in any other manner permltted by law as the Mort- gagee may elect, anything 1n the note or tn tl~b Mortga~e contalned to the oontrary thereto notwith:tandln~. Upon lore- closure of thts Mortgage, the Mortgagee shall be allowed ~a a part of the indebtedness secured hereby. and the.Mort- gagor agrees to pay. all costs and expenses incurnd !n connccUon therewlth, including reasonable etWrney's tees, cost ot title and tax search and the extenslon to date of an ebstract of tltle or UUe pollcy; and 1n case such torecloaure procecd- ings are seitled betare the consummation thereoi or the entry of iudgment, any sucA costs and expen~es and other charges so tncurred, lncluding s reaaonable attoraey's fee. shall neveriheless be pa1d. The Mortgagee or any party in in- terest, being the highest bldder. may De a purchaser at any fareclosure sale. Any elecUon by the Mortgagee aa herein prn- vided tor may be exenised immedlately upon default. or at any tlme thereatter, and nothing shall be conatrued to be a waiver ot such right unless evldenced by an instrument in writtng to thet effect duly executed by the Mortgagee. The Mortgagor walves all right of homestead aad exempdon ~rranted by tt?e Conatitutlon and Lsws ot Florlde~. AND TH~ MORTGACOR FURTHER CONVENANTS AND AGREFS: 1. To pay the principal indebtedneas with intetest ss in the note provided. To pa~y monthly unto the Mortgagee, in addltion to and at the tlme and place for each payment ot prtncipal and intereat, an inataliment oi each of the follow- ing charges: la> Taxes end assess~nents. general or speclal, and all other charges levied or to be leWed agalnst the premises. lb) Premiums to become due and paynble for. and to renew, the [naurance on the premiaes against lost by 8re and such other ha~ards. casualties snd contin8ewdes as herein provided for or required imm time to t(me. The arnount ot the respective monWy tnstalltnents ahall be equnl to the amount of the annusl respecUve cherge next due (as eaUmated by the Mortga~eee>. les W installmenta alceady pald therefor, dlvided by the number of monthly in- stallments theretor becoming due not Lter than one moath prtor to the due date of any such charge ewd shall be sub- ject to increise or decrease to the extent requic'ed to create as ot a monthly payment date on the note not less than one month prior to the due date ot any such charBe, an araount sugicient for Ne payment thereof when due and payable. In no event shall the Mortgagee recetving sucA Qayment De liable for any lnternst on sny smount pald to it as herein required, and the money so received ma,y be held wlth its own funds pending payment or application thereo[ ss heretn pro~~ided. The Mortgagor shall furnlsh unto the Mortgagee at least Afteen daya before the due date an oQicial atatement of the amount oi any taxea or assessments next due. and such Mortgagee shall pay the above chsrges to the amount o[ the then unused credit therefor aa and when they bci.~ome severally due aad psyable. The Mortgagee may, at its option, pay any of such char8es whea psyaDle. elther before or after they ate delinquent, without noUce. or make ad~ ances therefor in excea~ o! the then amount of credlt for sald charBes. The excess amount advanced ahall be immediately due and payable to the Mortgt?gee and shall be secured as an additional priucipal sum under thia instrument and bear the same rate ot [nterest irom date o[ advancement as the prlncipal lndebtedness. M oQicisl recelpt theretor shall be conclusi~ e evidence of such peyment and of the validlty o! such charges- The Mortgagee may apply credits held by it for the abo~~e charges, or any part thereot, on account ot any delinquent lnstallments of prindpal or interest or any other payments maturing or due under this instrument and the amount of credit existing at anY time shall be reduced by the amount thereof paid or applled as herein provided. The amount of the exlsting credit hereunder at the tlme oi any transter of the property shall without assignment thereof inure to the bene8t oi the successor owner oi the property and shall be applied under and subject to all of the pmvisions hereof. Upon the payment In full o[ the indebtedness, the amount of any nnused credit shall be applled to the payment thereo[. The Diortgagee may collect a"late zharge" not to exeeed four cents (4c) toC each one dollar <i1.00> oi each monthly installment payment required on the note and under thls Mortgage which is more than Stteen (15) days in arrears, to cover the extra expense involved in handling delinquent payments. 2. To pay, when payable~ all taxes and asseasments, general or special, v~ater rents and ground rents and all other ct?arges whatscever levied upon or ass~ed or p1acM against the premiaes, provisfon for which hat not been made here- inbefore, and will promptly deliver the oHicial receipts theretor to the Mortgagee• to likewiae pay all taxes. assessznenta and other charges. levied upon or assessed, placed or made against tAis instrument, or the Indebtedness or any interest of the Mortgagee in the premises or the obllgaUons secured hereby, provided that the payment of any such tax a~sess- ment or charge by the Mortgagor 1s not contrary to law or would not result in the pevment of an unlawful rate of inter- est on the indebtedness hereby secured. In the e~•ent of the passage after the date of this instniment of any law of the State, or subdivlsion thereof, wherein the premises are situated, creating or providing for any tax, assessment or charge ; which by the above prnviso is not to be paid by the Mortgagor, the indebtedness secured hereby together with interest due thereon, shall. at the optton of the Mortgagee, become immediately due and payable, and in th~ event payir:ent there- ! of ia not made torthwith, the Mortgagee may take or cause to be teken such sction or proceeding as may be taken here- ~ under in the c~se of any other default in the payment of the indebtedness. ~ ~ 3. To keep the bnildings and additions thereto on or hereafter erected or placed upon the land insuird egainst loss by tire and such other hazards, casualties and contingencies, including war damages if at any time a state of war exists or it appears to the holder ot the note that war is imminent, and in such amounts and for such perlods, as maq be required : trom time to time by thc Mortgagee, and to pay prompUy when due all premiums on such Insurance. provision for pay- ment oi which has not been made hereinbetore. The policles o[ inaurance shall have loss payable provistons acceptable to r the riortgagee and shall be delivered to and held by the Mortgagee, or as it may d[rect, untU thls Mortgage is sa'.isfied. ' Renewal polic[es of insurance, premiums for which have been tully peid, are to be furnished to the Mortgag~ee at least $ 8tteen days pctor to the expiration date of the insurance thereby renewed. T6e insurance Ehall be wrltten in companies ~ approved by the Mortgagee; in no e~ent shali the Mortgagee be held nsponsible for failure to pay for any insurance 4 written or tor any toss or damage growing out of a defecE in any pollcy ar growing out of any fallure ot any insurance ~ company to pay for any loss or damage fnsured against. In the event of loas the Mortgagor shall give lmmediate notice ~ by mail to the Mortgagee who may make proof of loss it not made promptly by the Mortgagor; each insurance company a concerned is. hereby authorized and directed to make payment for loss direcUy to the Mortgagee instead of to the Mort- ~ gagor end the Mortgagee ioinUy; the insurance proceeds, or any part tliereot, may be applied by the Mortgagee, at its option, to the expenses, if any, incurred by it in the collecUon thereof. to the crduction oi the indebtedneas hereby se- ~ cured, to the restoration or repair of the property damaged, or released to the Mortgagor without Itabillty upon the Mort- ~ gagee for such release. Alt pulicies of insurance are hereby assigned to the Mortgagee as addidonal security for the pay- x ment of the sums and interest secured hereby; in the event of foreclosure of thit Mortgage or other transfer ot Utlo to the remises in extln lahment o[ the indebtedness, all ri ht~ tltle and interest of the Mon ~ P gu 8 Sagor in and to any insurance - policies then in torce shall pass to the purchaser or grentee. 4. To complete within a reasonable time any building or bulldings now or at any dme In the prosess ot erecUon upon the lend and to promptly repair, restore or rebuild any buAding or lmprovements now or hereafter on the land which r' may become damaged or be destroyed, end not commlt or permlt to be done or earist on or abont the premlaes anythtng ' whereby the premises shaU become less valuable; to comply with all laws, rules, regulations, or ordinances oi any gwern- `ti mental agenCy and not violate or permit the vlolatton as to the premises ot any bulldtng or use restrlctJons; to keep the land and improvements th~reon free from mechanic's and materialmen's llena and will not auKer anq llen superlor to the =z lien created by thls instrument to attach to or be enforced against the premL9es. - S. I[ detault De made in the payment o[ taxes, asseasrnents, liens, clalms, insurance premlums or any other charge whatsoever, or any part thereof, or ln the pertormance of any act, to be pald or pertormed by the Mort~agor under the _ provWons hereof, the Mortgagee may, st its opdon, make payment thereot or pertorm any act requlred of the Mortgagor - in any form or manner deemed expedient and pay any other sum that fs necessary to protect the security ot this tnstru- ment; the smounts so paid, wlth lnterest thereon from the date ot such payment at the same cate as borne by the prln- - cipal Indebtedness, shall be asses~ed as an addlttonal lien on the premises and shall be added to aad beoome a part of the indebtedneas secured hereby and be immedlately due and psyaDle to the Mortgagee. My payment hereby authorized to be made by the Mortgagee may be made according to any blll. statement or eatimate furnlshed or pmcured irom the sppro- priate public offlce or the party claiming payment without inquiry into the accuncy or valldlty thereot, and the recelpt of - any public officer or party in the hands of the Mortgagee ahall be conclusive evidence ol the validity and amount ot ltemt so pald: the Mortgagee ahell, at 1ts opUon, be subrogated to my encumbrance, llen, claim ~ detnand, ~nd to all the rights = and secudUes for the payment thereof, pafd or dlscharged with the princlpal sum secured hereby or by the Mort~a~ee under tRe pravWons hereof. and eu~y such abrogaUon rlghb ahall be additlonal and cumulatlve ~ecudh? to thls Mort- ~a~e• ~3 . . . ` ~ r' - , ; - ~ . - _ ~ _ ~ . - _ . . - .