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HomeMy WebLinkAbout2294 ot the biortgagc~ become immedlately due and paynble, without n~tice, and proceedings may be instttuted by the Mort- gagee for the recovery thereot by foreclosure ot this Mortgage, or tn any other mnnner permitted by law ea the Mort- gagee may elect, anything fn the note or ln thls Mortgage contalned to the conlrary thereto notwlthstanding. Upon tore- closure ot this Mortgsge, the Mortgsgee shall be allowed aa a part ot the indebted~ess secured hereby, and the Mort- gagor agrees to pay, all casts and exper?ses incurred in connection therewith, including reasonable attorney'a fees, cost o[ title and tax search and the extension to date ot en ebstract ot title or title pol[cy; end In case such toreclos~re proceed- ings are setiled before the consummation thereot or the entry o[ judRment, any such costs and expenses and other c~arges so incurred, includfng s reasonable attorney'a fee, shall nevortheless be paid. The I?iortgagee or eny party in in- teres~ Deing the highest bidder. may be a purchaser at sny toreclusure sale. Any election by the Mortgagee as herein pro- vided [or may be exercised immediately upon detault, or et any time thereatter, and nothing shall be construed to be a wai~~er ot such right unless ev[de~ced by an inatrument in writing to that eftect duly executed by the Mortgagee. The Mortgagor waives aU right of homestead and exemption granted by tAe Constitutfon and Laws oI Florlda. AND THE MORTCAGOR FURTHER CONVENANTS AND AGREFS~ 1. To pay the princlpt?1 indebtedness with interest as In the note pru~~ided. To pay monthly unto the Mortgagee, 1n addition to and at the ttme and place for each payment of principai snd interest, an inatallment of each ot the foUow- ing charges: Is1 Taxes and assesvnents, general or special, and all other charges ied or to be levied against the premises. lb) PcrmiuPns to become due and payable for, and to renew, the insurance on the premises against loss by Sre and such other ha~acda, c.~sualties and contingencies as herein pro~ ~ded tor or required trom tlme to tlme. The amount of the respecUve monthly installments shall be ec~ual to the amount ot the annunl respective charge next due tas eatimated by the Mortgagee), lesa all installments already paid theretor, divided by the number of monthly in- stsllmenta theretor becoming due not later then one month prlor to the due date ot any such charge and ahail be sub- ject to increase or decmaae to the extent required to create as ut a monthly payment date on the note not less than one month prior to the due date of any such chnrge, an amouat suKicient for the payment thereof when due and~ payable. In no event shall the Mortgagee recciving such payment be liable !or any lnterest on any amount pafd to it ~ki herein reyuired, and the money so received may be held with its own funds pending payment or application lhereot as hereln provided. The Mortgagor shall lurnish unto the Mortgagee at least 8tteen days betore the due date an of[icisl statement of the smount oi any taxes or assessments nert due, and such Mortgagee shall pay the above charges to the tunount of the then unuaed credit them[or as and when they become severally due and payable. The Mortgagee may, at !ts option, pay any of such charges w•hen payable, either before or after they are dellnquent, w[thout noUce, or make advances therefor in excess of the then amount of credit for said charges. The excess amount advanced shall be immediately due and payable to the b'[ortgagee and shall be secured as an additional princiE?al sum under this instrument and bear the same rate of interest trom date o[ ad~•anrement as the principal indebtedness. M official receipt therefor shall be conclus[ve evidence of such payment and ot the ~•alidity of such charges. The Mortgagee may apply credits held by it for the abore chacges, or any part thereof, on acco~~nt ot any delinquent instellments ot principal or Interest or any other payments maturing or due under this in~trument and the amount of credit existing at uny time shail be teduced by the amount thereof paid or applied as herein pro~•ided. The amount of the c•xisting credit hereunder at the time of any transter of the pmperty ahalt withuut ~ssi~:nmc•nt thereot inure to the benefit of the successor uwner o[ the property and shall be applied under and subject to all of the prn~•isions h~n~of. Upon tM~ payment in tull of the indebtedness, the amount ot any unused crPdit shall be applied to the {rayment thereo(. The AtoRgagee ma}• coll~ct a"late charg~~' nut to exceed [uur cents ~4cy for each one dollar (=I.W? of each monthly installment payment required un th~~ nute and under this 1lortkage which is more thun fitteen (151 days In arrears, to cover the extra expensc invuR•ed in handhnk delinqucnt pa}•m~nts. 2. To pay, when pnyable, p11 tax~~s and as~essmE~nts, F~•nF•ral ~~r s~ie~ciIIl, w•atcr rents and ground rents and all other i charges whataoe~•er levied upon or as,essed or plareci against thc ~~rrmisc•s, pro~•ision for which has not been made here- inbefore, and will promptly deli~~~•r the of(icia! r~~ceipts thc~ref~.r to th~ 9lortgagee; to likewise pay e~l! taxes, assessments € and other charges, levied upon or assesced, plamd or made a~;ainst this instrument, or the indebtedness or any interest of j the Mortgsgee in the premises or ihe ubli~;ations s~curcd h~•reby, provided that tAe payment of any such tax asses4- F ment or charge by the ~lortgagor is n~~t c~~ntran• t~~ law or «•~~uld not resuit in the pavment of an unlawful rate of inter- ~ est on the indebtedness hereby secure~l. In th~ ~~~F•nt of the pascage ufter the date o[ this instrument of any law of the t State, or subdivision thereo[, wherein th~ pn•mis~s ar~~ situated, crcatinR or pro~•iding for any tax, assessment or charge ~ which by the above proviso is not t~i be ~~aid b~~ the ~tortRagor, the ind~btedness secured hernby together wlth interest due f thereon, shall, at the option of the :~tortka~;e~~. t~c~um.• immediately due and payable, and in the event payment there- ot ts not m8de forthwith, the Mortgage~r ma~- tal:f• ur cause tu be taken cuch action or proceeding as may be taken here- under in the case ot any other default in th~ pa}•mFnt ot the indebtedness. g 3. To keep the buildings and additi~~ns thereto on or hereafter erected ur placed upon the land insured against lost ~ by fire and such other hazards, casualties and c~ntin~;encies, including war damages if at any time a state of war exists or ~ it appears to the holder ot the note that w~ar is imminent, and in such amounts and tor such periods, as may be requited ~ irom tlme to time by the Mortgaqee, and to pay prompUy when due all premiums on such insurance, provision tor pay- ~ ment of which has not been made hereinbetore. The policics ot insurance shsll have loss payablA provlsions acceptable to ~ the Diortgagee and shall be deli~•ered to und held by the Mortgagee, or as it may direct, until thfa Mortgage is satisfied. t Renewal policies ot insurance, premiums tor which haee been [ully paid, ere to be furnished to the Mortgagee at least Sfteen days prior to the expiration date of the insurance thereby renewed. The tnsurance shall be wtttten In companfes - approved by the Mortgagee; in no event shall the DTortgagee be held responsible for tailure to pay for any insurance written or tor any Ivss or damap,e growing uut of a detect in any policy or growtng out of any tallure of any insurance ~ company to pay for any loss or damage insured againct. In thc~ erent ot loss the Mortgagor shall give immediate notice ~3 by mail to lhe biortgagee who may make proo[ of loss i[ not made promptly by the 1?tortgagor; each insurance company ~ concerned is hereby suthorized and directed to make payment for loss directty to the 2ltortgagee instead ot to the Mort- gagor and the Mortgagee jointly; the insurance proceeds, or any part thereot, may be applied by the Mortgagee, at its ; option, to the expenses, it any, incurred by it in thN collertion thereof, to the reduction ot the indebtednest hernby se- cured, to the restoration or repair o[ the pro~rty dama~ed, or released to the Mortgagor without liabllity upon the Mort- gagee for sueh release. All policies of insurance are hereby assigned to the bTortgagee as additional securlty for the pay- ment of the suma and interest secured hereby; in ihe event of [oreclosure ot this Mortgage or other tntnsfer of tIt1Q to the ~ premises in extinguishment of the indebtedness, all right, title and interest o[ the biortgagor in and to any insurance policles then in force ahall pa~s to the purchaser or grantee. 4. To complete wfthin a reasonable time any building or buildings noa~ or at any time fn the process ot erection upon the land and to promptly repalr, restore or rebuild any building or improvements now or hereafter on the land which - may become damaged or be destroyed, nnd not commlt or permit to be done or exist on or about the premises anything whereby the premises shall become less valuable; to comply with all laws, rules, rngulations, or ordlnances of any govern- mental agency and not violate or permit the violatlon As to the premises o[ any building or use restrictlons; to keep the lend and lmpmvemeqts thereon free irom mechanic's and malerialmen's liens and wlll not sut[er any lien superlor to the _ lien created by this instrument to attach to or be enforced against the premises. 5_ It detault be made in the payment ol taxes, assessments, liena, claims, insurance premiums or any other charge ~ whatacever, or any part thereot, or in the peHormance ot any act, to be pafd or pertormed by the Mortgagor under the provWons hereof, the Mortgagee may, at lta option, make payment thereot or perform any act requlred of the Mortgagor In any torm or manner deemed expedient and pay any other sum that ls necessary to protect the securlty of thls instru- ment; the amounts so pald, with Interest thereon from the date ot such payment at the same rnte sa borne by the prln- clpal indebtedneas, shall be assessed as an addltional lien on the premises and shall be ee~ded to and become a part of the = tndebtedness secured hereby and be immediately due and payable to the Atortgagee. My psyment hereby authorized to be made by the Mortgagee rnay be made according to any bill, statement or estimate furnished or procured trom the appro- - priate public oglce or the party claiming payment wfthout inquiry into the accuracy or valldlty thereof, and the recelpt of : any publle oIIicer or party in the hands of the Mortgagee shall be concluslve evidence o[ the valldity and amount ot ttem~ w patd: the Mortgagee shall, at its option, be subrogated to any encumbrance, llen, claim or demand, end to all the tlghta ~nd securltles for the payment thereof, pald or dLscharged with the principal sum secured hereby or by the Mort~agee under tAe provldons hereof, and sny such subrogaUon rlghts shall be additfonal and cumulatlve iecuritq lo thts Mort- = S~• < ::i J' $Q1lK 1a~3 PA(~~~