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HomeMy WebLinkAbout2853 ot the biortgagee become immediately due and payable, wlthuut notire, and proceedings may be insUtuted by the Mort- gagee for the recovery thec~ot by toreclosure ot tRis Mortgage, or in einy other manner permitted by law es the Mort- gagee may elect, anything In the note or in thia riortgnge contained to the contrary thereto notwithstanding. Upon tore- closure ot this Mortgage, the Mortgagee shsll be ullowed ss a part ot the indebledness secured hereLy, and the Mort- gagor agrees to pay, all caats and expenses tncurted In connectlon therevrith, including rnasonable attorney'a tees, cost ot title and tax search end the extension to date of an abstract ot title or title policy; and in case such toreclosure procced- ings arP settled before the consummation thereot or the entry ut j~dRn:ent, any such costs and expenses and other charges so incurred, including s reasonable attorney's tee, shall ne~•rrtheless be paid. The Mortgagee or any party tn in- terest, ~eing the highest bidder, may be a purchaser at any foreclosure sale. Any etection by the Mortgagee as nerein pro- vided tor may be exercised immedtetely upon de[ault, or at any time thereatter, and nothing shall be construed to be a waiver o[ such right u~lest evldenced by an instrument in writing to that effect duly executed by the Mortgagee. The Mortgagor waives aU right of homestead snd exemptlon granted by the ~c.nsUtutton and La~vs ot Floridn. AND THE MORTCACOR FURTHER CONVENANiS AND ACRF.FS: ~ l. To pay the principal indebtedness wlth interest as ln the nute ~ro~•id~d. To pay monlhly unto the Mortgagee, ' in sdditIon to snd at the time and place tor each payment ot principal and interest, an instel?ment ot ench ot tt?e tollow- ing chargea: (a) Taxes and assessments, general or special, and all other char~;~s 1F~~i~d or to be levied against lhe premises_ tb) Ptemiums to become due and payable for, and to renew, the insurance on the premises agaisut loss by Hre and such other ha~ards, ebsualtles and contingencies as herein pro.•id~~d for or required trom tlme 1o time. The amount of the respective monlhly installments shall be eyual to the amount ut the annual respecttve charge next due las estlmated by the Mortgagee), lest all installmenls alrexdy psid theretor, divided by the number o1 monthly in- atatiments therefor becoming due not later than one month prior to the due date of any such charge and ahall be sub- ject to increase or decrease to the extent required to create as ot a monthly payment date on the note not less than one month prtor to the due date ot any such charge, an amount suKicient tor the payment thereot when due and payabie. In no event shall the Mortgagee receiving such payment be liable for any interest on any amount paid to it as hereln required, and the money so received may be held with its own tunds pending payment or application thereof as herein provided. The Mortgagor shall furnish unto the hiortgagee at least S[teen days before the due date an of[icial statement oi the amount ot any taxes or assesvnents next due, and such Mortgagee shall pay the above charges to the amount ot the then unused credit theretor as and when they bec.~ome se~~erally due and payabte. The Diortgagee may, at its option, pay any oi such charges when payable, either before or eiter they are delinquent, without notice, or make advances theretor in exces4 of the then amount ot credit tor said charges. The excess amount advanced shall be immediately due and payable to the btorfgagce and shall be secured as an additional principal sum under this instrument and bear the same rate of Intemst trom date of ad~•ancement as the principal indebtedness. M ot[icial receipt thereLor shall be conclusive evidence ot such payment and ot the ~•alidity of such charges. The Mortgagee mny apply credits held by It tor the above charges, or any part thereof, on account ot any delinquent installments of princlpal or interest or any other payments maturing or due under this instrument and the amount of credit existing at any tirne shall be teduced by the amount thereot paid or applied as herein pro~~ided. The amount ot the exlsting credit heneunder at the time of any transEer of the ; property ahall without assiknment thereot inure to the benefit of the successor owner ot the property and shall be applied under and subject to all of thr pro~~isions hemo[. Lpon thc~ payment in full ot the indebtedness, the amount ot any unused credit shall be applied to the pa~•mcnt. thereof. The Mortgagee may cullect a"late char~;~~" not to exceed tuur cents ~;c? for each one dollar 151.00) of each monthly • tnstallment payment rcyuircd ~n !h~• notF and under this Atort~;age w•hich is more than fifteen (15~ days in arrears, to ? cover the extra expense imut~•t•d ~n handlin~ deiinqu~•nt payr:i~nts. 2. To pay, when pa~•able, all tax~~s and as~ es,ments, gc•n~•ral or s~rccial, w•ater rents snd ground rents and all other ; charges whatsoe~'er le~•ied upun or ac~esscd or pl~cc~l akainst the premises, pro~~ision for whtch has not been made here- : inbefore, and will prompth• d~li~•cr the uffiric.l r~•ce~i~~ts theret~~r to the Mortgagee; to likewise pay sll taxes~ assessments t ~ and other charges, levied upon or asse~ced, plac~~d or made a;;a~nst this instrument, or the indebtedness or any interest ot ~ the Mortgagee in the pmmises or ihe obli~;atiuns s~~cured hereby, pro~•ided that the payment of any suCh tax 8sses4- ; ment or charge by the ~iortgagor is not c~mtrar~- to iaw or would not result in the pavment of an unlawful rate ot inUer- ~ est on the indebtedness hereby securc~l. In th~~ e~~ent of the pas~age a[ter the date ot this instrument oi any law of the ( State, or subdi~~ision thereof, Nherein the ~.r~•rnis~s are situat~~. creating or pm~•iding tor any tax, assessment or charge ; r which by the above pro~~iso is not to be paid by the ;iortgagor, the indebtedness secured hernby together with interest due ; thereon, shail, at the option ot thr ~l~~rttiakt~•, be~•ume immediatel}• dve and payable, and in the e~•ent payTnent there- { E of b not made forthv~ith, the htortga~;e~ ma>• tak~~ or caux to bc~ taken such action or proceeding as may be taken here- ~ 1~nder In the case ot any other default in the paym~~nt of the ~ndebtedness. ° 3. To keep the buildings and additions theret~~ on or heretttter erected ur placed upon the land insured against loss ? ' by tire and such other hazards, casualtit~s and contin~;encies, including war damages :f at any time a atate of war exists or ~ it appears to the holder of the note that u•ar is imminent, and ~n such amounts und for such periods, as may be requ[red a irom time to time by the Alortgagee, and to pay promptly w•h~~n due a(1 premiums on such insurance, provLslon for pay- E ment ot which has not been made hereinbefure. The policies ot insurance shall ha~•e loss payaDle pro~•isiona acreptable to the Diortgagee and shall be deli~•ercd to and heid by the :~iortgagee, or as it may ditect, untll thia Mortgage is satis[ied. ' Renewal policies of insurance, premiums tor which haee been fully paid, are to be furnished to the Mortgagee at leasi ~ ntteen days prior to the expiration date of the insurance thereby renewed. The insurance shall be wrttien in companies ~ approved by th'e Mortgagee; in no e~~ent shall thc biortgagee be held responsible for failurn to pay 2or any insurance - written or for any loss or damage growing uut ot a detect in any policy or growing out ot any fallure of any insurance ~ rnmpany to pay for any loss or damage insured against. In the event of loss the Mongagor shaU give ~mmediate notice - ~ by mail to the Mortgagee who may makc pro~f of luss if not made prompUy by the blortgagor: each insurance coinpany concerned ia hereby authorized and dircrted to make pa3~ment for i~ss directly to the hiortgagee instead of to the Mort- g gagor and the Mortgagee joinUy; the insurance proceeds, or any part thereof, may be applied by the Mortgagee, at its ~ option, to the expenses, it any; iDC1~~red b3~ it in th~ collection thereot, to the re~uction of the indebtedness hereby se- ~ cured, to the restoratiow~or re~atr.d the ~roperty damaged, or released to the btortgagor without liability upon the Mort- ~ gagee for such release. All policies of insurance are hereby assigned to the 1?iortgagee as edditional security for the pay- ~ ment ot the sums and interest secured hereby: in the event of foreclosure of this 2?tortgage or other transfer of tlUo to the = prPmLses in extinguishment o[ the indebtedness, all right, tltte and fnterest of the btortgagor in and to any insurance - po pass to the purchaser or grantee. licies then in force shall j 4. To complete within a reasonable time any building or buildings now• or at any time in the process of erectlon upon ~ the land and to promptly repair, restore or rebuild any building or Improvements now or hemafter on the land whlch ~ may become damaged or be destroyed, and not commit or pennit to be done or exist on or abont the premfsea anything whereby the premises shall bernme le~s ~•aluable; to comply with all laws, rules, mgulatlons, or ordinances of any govern- ' mental agency and not ~•iolate or permit the ~•iolation as to thc premises ot any building or use restricUons; to keep the land and improvements thereon free frem mechanic's and materialmen's liens and will not suffer any lien ~uperior to the ~ llen created by this instrument to attach to or be enforced akainst the pmmises - S. I[ detault be made in the payment of taxes, e.ccescments, tiens, claims, insurance premiums or eny other charge whatsoever, or any part thereot, or in the pertormance of any nct, to be paid or pertormed by the Mortgegor under the provWons hereot, the Mortgagee may, at its option, make payment thereof or perform any act required Of the Mortgagos ~ 1n any form or manner deemed expedient and pay any other sum that is necessary to protect the securlty o[ thla lnsttv- ment; the amounts so paid, with interest therean from the date of such pey~rnent et the same rate aa borne by the prltf- _ clpal indebtedness, shall be assessed as an additional lien on the premises and shalt be added to ~nd bet.~ome a part o1 the IndeDtednesa secured hereby and be immediately due and payable to the Tiortgagee. Any payment hereby auNotized to be " aude by the Mortgagee may be made accor6ing to any blll, siatement or estimate turnlthed or procured irom the appro- pclate public oBice or the party claiming payment wiNout [nquiry into the accuracy ~r valldlty thereof, and the receipt of - any public oIIlcer or party in the hands of the Mortgagee shall be conclusi~•e e~•idence of the valldlty and e~nount ot Items •o patd; the Mortgagee sha11, at its option, be subrogated to any encumbrance, ilen, claim or demand~ and to all the ei~hta and securfUes for the payment thereot, pafd or discharged with the principal sum secured htreby or by the Mort~a~ee undrr tl?e pravlalons hereot, aad sny such subrogatlon rights ahall be additlonsl and cumuladve ierur?ty to thls Mort- - ss~• _ aoRx PACE2$~ - - _