Loading...
HomeMy WebLinkAbout2314 ot tAe I?iortgagee become immedietely due s~d payable, v~ithout noUce, and proceedings may be instituted by the Mort- gagee for the recovery theceof by foreclosure o( thts Mortgege, or in any other manner permltted by law as the Aiort- gagee may elect, anytNng ln the note or tn thls Mortgage contained to the contrary lhereto notwithstu?dtng. Upon fore- closure of this Dio~tgage, tAe Mortgagee ahall be allowed es a part of the lndebtedness secuced hereby, and the Mort- gagor agrees to pay. all coats and expenses incurred tn connection thernwitA, including reasonable attorney's fees, cost ot tltle and tax search end the extenslon to date ot nn ebstract ot tttle or tiUe poltcy; and ln cese auch toreclosure proceed- ings are settled before the consummation thereot or the entry o[ ~udgment, any such casts and expenses and otAer charges so lncurred, including a re~onnble sttorney's fee, shall nevertheless be pafd. The Mottgagee or sny party !n in- terest, being the highest bidder, may be a purchaser et any toreclasure sale. Any election by the Mortgagee as herein pro- ~~ided tor may be exercLsed Immediately upon defaul~ or at any time thereafter, and nothing shell be conateved to be a waiver o[ suth right unless evidenced by an instrument tn writing to that et~ect duly executed by the MortgLgee. The Mortgagor waives eA rlght of homestead end exemption granted by the ConstltuUon and Laws ot Florfda. AND THE MORTGAGOA FURTH£R CONVENANTS AI~SD AGREFS: 1. To pay the principal indebtedness with interest as in the note provided. To pay monthiy unto the Mortgagee, fn addition to and st the Ume and place [or each payment o[ principal and inte~est, an installment of each of the lollow- ing cherges: la) Taxes end assessments, generat or speclal, and all other charges levied or to be le~•ied agalnst the ptemises. lb) Prnmiums to become due and payable tor, and to renew, the insurance on the premises against loss by Sre and such other hazaeds, casualtles and contingeneies as herein pro~ided tor or required from time to Wne. The amount of the respective monthly installmenta shall be equal to the amount o[ the annual respective cAarge next due (as estimated by the Mortgagee>, less all Installments alrnady paid therefor, divided Dy the number o! monthly 1n- stallments therefor becoming due not later than one month pdor to the due date of any such charge and shall be sub- ject to increase or decrea~e to the extent requlred to create as ot a monWy payment date on the note not less than qpe month prior to the due date of any such charge, an amount suHicienl [or the payment thereof when due and payable. In no event shall tAe Mortgagee recelving such payment be tiabie for any interest on any amount paid to it as herein reyuired, and the money so received may be held with !ts own funds pending pay~nent or spplication thereot as herein pmvided. The Mortgagor shall turnish unto the Mortgagee at least 8tteen dnys before the due date an ofilcial statement ot the amount ot any taxes or aslessments next due. and such Mortgagee shall pay the above charges to the amount ot the then unused credlt therefor as and when tAey become severally due and paye6le. The biortgagee may, at iis option, pay any of such charges when payable, either before or aiter they are delinquent, wfthout noiice, or make advances theretor in excess ot the then amount of credit for asid charges. The exceas amount advanced shall be Immediately due and payable to the M~rtgagee and shall be secured aa an additIonal principal sum under this instrument and hear the same rate ot interest from date oi advancement as tAe princlpal Indebtedness. An official receipt thernfor shall be conclusice evidence of such payment and ot the ~alidity of such charges- The Moctgagee may apply credits held by it for the abo~•e charges, or any part thereof, on account ot any deltnquent lnstallments ot prineipal or interest or any other payments maturing or due under thls Instrument and the smount o[ credit existing at anY time shall be reduced by the amount thereof paid or applied as herein provided_ The amount ot the enisting credit Aereunder at the Ume of any transter ot the property shall without assignment thereof inure to the bene8t of the successor owner ot tAe property and shali be applied under and subject to all ot the provtsions hemof. Upon the payment in full of the indebtedness, the amount of any unused credit shall be applied to the payment thereof. ~ The Mortgagee may coilect a"late cnarge" not to exceed tour cents (9ci foY each one dollar <51.00) ot ench monthly installment payment required on the note and under this Mortgage which is more than S[teen (15) days 1n arrnars, to ' cover the extra expense [nvolved in handling delinquent paymenu_ 2. To pay, when payable, all taxes and as+essments, general or special, water rents and ground rents and all other charges whatsoe~er levied upon or assessed or placed agalnst the premises, pro~•ision for which has not been made here- ' inbetore, and will promptly deli~er the ofticial mceipts therefor to the biortgagee; to likewise pay all taxes, assessments ~ and other charges, levled upon or assessed, placed or made a~sinst this instrument, or the indebtedness or any interest ot ! the Morigagee in the pre:nises or the obligalions secured hereDy, provided that the payment of any such tax assess- E ment or charge by the Mortgagor is not contrary to law or would not result in the pevment of an unlawiul rate of inter- ~ est on the indebtedness hereby secured. In the e~ent of the passage after the date ot this instrument of any law ot the ' State, or subdivision thereot, wherein the ~~remises are situated, creating or providtng for any tax, assessment or charge i which by the above proviso is not to be paid by the Mortgagor, the indebtedness secured hereby together with Interest due ~ thereon, shall, at the optlon o[ the :~iortgagee, become immediately due an~ payable, and in the event payment there- _ ; of ts not made forthwith, the Mortgagee may take or cause to be taken such action or proceeding as may be taken here- ~ under fn the case of any other default in the gayment of the indebtedness. ~ 3. To keep the buildings and additions thereto on or hernatter erected or placed upon the land insured against lacs ~ by fire and such other hazards, casualties and contingencics, including war damages if at any Ume a atate of war exists or a it appears to the hoider ot the note that war is Imminent, and in such amounts and for such periods, es may be required ~ from time to time by the Aiortgagee, and to pay promptly when due ail premiums on s~+ch insurance, provision [or pay- ~ ment ot which has not been made hereinbetore. The policies o[ insurance shall have lost payable provislons acceptable to ~ the Diortgagee and shatl be delivered to and held by the Mortgagee, or as it may direct, unUl thls Mortgage is satisfied. > Renewal pol[cics ot insurance, premiums for which have been tuily paid,~are to be furnjshed to the Mortgagee at least ~ Sfteen days prior to the expiration date of the insurance thereby renewed. The insurance shall be wtltten In companies approved by the Diortgagee; in no e~ent shall the Mortgagee be held responsible for failure to pay tor any insnrance p written or [or any loss or damage growing out ot a detect in any policy or growing out of any failus^e of any insurance z company to pay for any loss or damage insured against. In the event of loss the Mortgagor shall give immediate notice by mail to the Mortgagee who may make proof of loss 3f not made promptly by the Mortgagor; each insurance company ~ concerned is hereby suthorized and directed to make payment tor loss directly to the Mortgagee instead of to the Diort- ~ gagor and the Diorigagee jointly; the insurance proceeds, or any part thereot, may be applied by the Morigagee, at its ~a option, to the expenses, it any, incurred by it in the collection thereof, to the reductlon of the Indebtednes~ hemby se- ~ ~ured, to the restoration or repair ot the property damaged, or celea4ed to the 1?Sortgagor without llability upon the I?tort- , gagee for such release. All polictes ot insurance are hereby assigned to the Mortgagee as ndditlonal secudty for the pay- ment ot the sums and intereat secured hereby; in the event of foreclosure ot this Mortgage or other transfer of tlUo to the ~ premises in extinguishment ot the indebtedness, all right, tltle and interest of the Mortgagor in and to any Insurance 5a policies then in torce shall pass to the purchaser or grantee. ' 4. To complete withiu e reasonable time any bullding or buildings now or at any time in tAe process ot erection upon the land and to promptly repair, restore or rebuild any bullding or lmprovements now or hereatter on the land whlch ' may Decome damaged or be destroyed, end not commit or permlt to be done or exist on or about the premises anything whereby_ lhe premises shall Decome less valuable; to comply with all laws, rules, regulations, or ordinances of any govern- ; mental agency and not violate or permit the violation as to the premLses ot any bullding or use restrlcUons; to keep the land and improvements thereon tree trom mechanic'a and materislmen's liens and will r,ot suf[er any lien superior to the °~'y lien created by this instrument to attach to or be enforced agaiest the premises. 5. If detault be made in the payment of taxes, assessments, liens, clafms, insurance ptemiums or any other charge whatsoever, or any part thereof, or in the performance ot any act, to be pafd or pertormed by the Mortgagor under the _=i provWons hereot, the Mortgagee may, at its option, make payment thereof or pertorm any act requlred ot the Mortgagor = In any torm or manner deemed expedient and pay any other sum that b neces4sry to protect the securtty ot Wa Instni- ment; the amounts so pald, with interest thereon from the date ot such psyment at the same rate as borne by the prin- cipal Indebtedneas, shall be assessed as an additional Uen on the premises and shnll be added to aad bei.,ome a part ot the tndebtedness aecured hereby and be immedfately due and payable to the Mortgagee. My payment herebq authorized to be made by the Mortgagee may be made according to any bW, statement or eaUmate furnfshed or procured trom the appro- `w3 pHate publlc otttce or the party claiming payment without lnquiry into the accuracy or val{dlty+ thereof, snd the recetpt of any public officer or party in the hands of the Mortgagee shall be rnnclusive evidence ot the validlty and amount of 1tem~ so paid: the Mortgagee shnli, at Its optfon, be subrogated to any encumbrance. lien. clafm or demand, and to W the rights and securltles for the payment thereof. psld or dLscharged wlth the principal sum iecured hereby or by the Mottqagee under t1~e provldons Aereof, and any such subrogaUon rights atull be addidonal and cumulat:ve ~erur:ty to thls Mort- - BaBe. ~ ~,~``ti4 D~I~111 r~1( ~~I~~ =~z . . . ' ~ ~=..ti -