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Home My WebLink About0514 ~ ~ ot the Mortgagee become lmmedlstely due and psyable. wtthout notlce. and procee~iin~s msY be instituted by the l~ort- ga~ee for the recovery thereot Dy ioreclosure ot tnls Mort~a~e. or in any other menner permitted by la~r as the Most- gagee may eleM. anpthing !s the note or in thls Mortga~e oonWned to the ooatrary thereto notwithstandln~. Upon fore- closure of thia Mort~a~e. the Mort~seee shell be allowed ~s a paK oi the indebtedness secured hereby. an8 the Mort- gagor agr~ees to p~y. all costa and expen~es incurred ln coni?ectlon Nerewith. iacluding ressonsble aKoraey's fees, cost ot t1Ue and tax search and the extenslon to date of an abstract oi tttle or Utle pollcy; and 1n c~e such foreclosure pmceed- ings are settled befon the conaummaUon thereof or the entry ot iudgmen~ any such costa end expenses and oWer charges so lac~uured. lacludin~ a rea~?able attorney's Lee. shall nevertheleas be pafd. The Mort~a~ee or aap party 1n 1n- terest, betng the hlghest bWder. may be a purchaser at any foreclosure sala Any electlou by the Mortgagee as hereln pro- vided for may be exerclaed immed4tely upon default, or at any Ume thereatter. and notNng shall be construcd to be a waiver ot sucA dght unless evidenced by an instrument in wrlUng to that eQect duly executed by Ne Mortgagee. The Mortgagor welves all rlght oi homesteud ~nd exemption ~raated by the ConsUtution and I.aws o! Flodda. AND THE MORTGAGOR FURTHER CONVENAN'I8 AND AGREFS: 1. To psy the principal indebtedneaa with interest as in the note pmvided. To pay monthly unto the Mortgagee. 1n eddltion to and at the time and place for each payment of pdnctpal and interest. an installment of each oL the follow- ing charges: (s> Taxes and assess~nents„ general or special, and ell other charges levted or to be leWed ageinst the premLses. (b) Premiums to Decome due and pe~yable for. and to renew. the lnsurance on the premices agalnat loas by 8re and auch oNer he~ards. casualties and contingeAdes as 1~erein Provided for or required irom time to time. The amount oi the respecUve monWy lnstallments shsll be equsl to the amount of the ennual nspective charge next due tsa estimated by Ne Mortgsgee>. les all instaIIments elready paid theretor. divlded by the number of mor~tLly la- stallmenta therefor becoming due not later tlun one month prior to the dne date of aa,y auch charge and ¢hall be sub- ~ect to increase or deci'eaae to the extent requlred to create es ot a montNy payment dste on the note not lsas thnn one month prtor to the due date o! any such charSe. an amount aufficieat for the payment tAereoi when due and payable. , In no event shall the Mortgagee receiving mch payment be 2iable for any interest oa any amount peld to it as herein required. and the money so received meU? be held with ita own funds pending payment or application thereoi as herein ; prnvided. The Mortgagor shall furnish unto the Mortgagee at lesst ntteen dqya before the due date an o~icial statement of the amount oi any taxes or a~essments next due. and such Mortga~e shall pay the above charges to the amount of ~ the then unused credit Nerefor as and when tAey become aeverally due and payable. The Mortgagee may. at its option. t pqy any of sucII charges when pa~rable. either before or atter they are delicequent, without noUce. or make advances a therefor in excess o! the then ama~nt oi credit for aaid char~es. Tbe exce~s amount advaaced shall be immediate~y? due aad payable to the Mortge?gee end shall be serured as an addlUonal prindPV +un? under this iastrument and bear the same rate of interest irom date oi advencement as the princ[psl lndebtedneas. Aa offtctal receipt theretor st~all be conclusive evidence of wch payment and of the validity o! wch charSes- The Mortgagee may apply credits held by It for the above charges. or anq part thereot. on account oL any delinquent installments ot prindpal or interest or any other payments matuiing or due under this instrument and the amount ot credit existing at any Wne ahall be reduced by the amount thereof psid:or applled as hereta provided The amount oi the exist[ng credlt hereunder at the time oi any transter oi the property shell without assignment t1?ereoi i~?ure to the bene8t oi U?e saccesaor owaer oi the property and shall be applled under and subject to all of the provlsfons hereof. Upon the payment in full of the indebtedneaa, the amount of any unused credit shall be applled to the payment thereof. The Mortgagee may collect a'9ste charge" not to exceed four cents (4c) foY each one dollar (=1.00) of eacA monthly inatallment payment requtred on the note and under tWs Mortgage whlch is more than Sfteen (1S) days in arrears, to cover the extra e~cpense involved in handling delinquent psyments. 2. To pay. when payable. all taxes and essessments, general or specisl. water rents and ground rents and all other ~ charges whstscever levted upon or esaessed or placed against the premises, provLsion for which has not been made here- inbefore. and will pmmptly deliver the o~cW receipts therefor to the Mortgagee; to likewLe pay all taxes. a~essmeata ; and other chargea. levied upoa or assessed. placed or made against thL4 instnrment, or the indebtedneas or any interest of ' the Mortgagee in the premtsea or the obligations aecured hereby. provided that the payment o! any suc6 tax assess- ~ ment or charge by the Mortgagor LS not contrary to law or would not result in We psvment o! an unlawtul rate oi lnter- ! est on the indebtedness hereby secured. In the event oi the passage aiter the date oi thls instrument oi any law ot the ; State, or subdivision thereof. wherein the premises are situated, creating or providing for any tax, asaessment or charge } ~ which by the above proviso is not to be paid by the Mortgagpr, the indebiedness secured hereby together with interest due ~ i ther~on. shall, at ~e option of the Mortgagee, become immediately due and payable. and In the event payment there- i of is not raade forthwith. the Mortgagee may take or cause to be taken such acUon or proceeding as may be taken here- under in the e~se of any other default in the payment ot ihe indebtedness. ¢ 3. To keep the buildings and addittons thereto on or hereafter erected or placed upon the land insured against loss a by tire and such other ha:ards, casualUes and contingerrctes, including war damages if at any tlme a state of war exists or ~ it appears to the holder of the note that war is imminent, and In such amounts and for such perlods, aa maq be required ~ irom time to time by the Mortgagee, and to pay promptly when due all premiums on such insurance, provision for pay- ~ ment of which has not been made hereinbefore. The policfes ot insurance shall have loas p~yable pmvisions acceptable to = the Mortgagee and shall be delivered to and held by the Mortgagee. or as it may dlrec~, unUl Wis ldortgage is satistied. ~ Renewal pollcies o[ insurance, premiuma for which have been tully paid, are to be lurnlshed to the Mortgagee at least ; Siteen days prior W the expUstion date ot t6e insurance thereby rPaiewed. The fnaunuce ahsll be written in companles ~ approved by the Mortgagee; in no event shall the Mortgagee be held responaible for failure to pay for eny insurance ~ written or for any loss or damage growing out of a detect in any policy or grow(ng out of any iWure oi any fnsurance company to pay Lor any loss or damage insured agains~ In the e~ent of loss the Mortgagor s~all give immediate notice by mail to Ne Mortgagee who may make proof oi loas it not made pmmptly by the MortgaQor; each insurance company a concerned ls. hereby authorized and dlrected to make payment tor los4 direcUy to the Mortgagee instead of to the Mort- gagor and the Mortgagee joinUy; the insurance praceeds, or any part thereof, may be'applled by the Mortgagee, at 1ts ~ option, to the expenses, if any, incurred by it in the rnllection thereof, to the reduction oi the lndebtednea hereby se- cured, to the restoration or repair of the property damaged. or released to the Mortgagor without 11abWt}? upoa the Mort- ~ gagee for such release. All polldes of insarance are hereby assigned to the Mortgagee as additlonal secudty for the psy- ment of the sums and interest secured hereby; in the event ot forecloaure of thb Mortgage or other tras?sier of tiW to the premises in extinguishment oi the indebtedness. all r[ght, tltle and interest of the Mortgagor in and to aaq insurance policies then in force shall pass to the purchaser or grantee. 4. To complete within a reasonable tlme aay building or bulldings now or at any time in the prooess of erecUon upon t6e land and to prompdy repair, restore or rebulld any building or improvements now or hereatter on the land whicb ~ may become damaged or be destmyed, and not oommtt or permlt to be done or extst on or about the premisa anythtng ? - whereby the premisea shall become les~ valuable• to rnmply with all laws rules, regulaUons, or ordinances of sny gavern- = mental agency and not violate or permlt the violatlon as to the premlaes of any bulldtng or use restrictiotu; to keep the land and lmprovements thereon iree irnm mechanic's sud materlalmen's llens and wW not sulLer anq Hen superlor to the ~ Iten created by this instrument to attach to or be entorced against the premises. 5. It detault De mede [n the payment of taxea. assessments, liens, claims, insurance premlums or any other charge wtiatsorver, or any part thereof, or in the perlormanoe of any act, to be pald or pertormed by the Mort~a~or under the ~ pmvtdons hereof, the Mort~agee may, at lts option, make payment thereof or perform anq act required of the Mortgagor ~ in any form or menner deemed expedient and p~y auy other sum Lhat 4 necessary to protect the aecuriq? ot this instru- - ment: the amounb ao pafd. with interest thereon trom the date ot such payment at tbe iame nte as Dorne b~ the prln- cipa! fndebtednes, shall De aa~eased as an additlonal lien on the premites and shail be a8ded to aad beoome a part ot the iadebtedneas secured hereby and be immediately due and paysble to the Mortgagce. My payment berebr authorlsed to be _ made by ihe Mortga~ee m~y be made according to any bill. stateraent or estimate furnlfhed or procured troai tbe appro- - prlate publle offlce or the party cWming payment withrn~t tnqulry lnto the accuracy or validit~ then~od, aaA t~e reoeipt of i any publlc oaloer or party in the hands oi tlu Mortgagee ahall be coadus[ve evidence ot the valWtqr ~ad ~mount o~ itea~ - w patd: the MortQagee sLall. at its opUon, be subrogated to any encumbrance. 1ien. clalm oe d~nand, aM W all the ri~hts - and ~ecudUes far tLe p~yment thereot. Wdd or discharged v?Ith the principal sum ~ecured herebY ae b7 t~e ~ortp~K under Ule provWoos hereof. and any wch subrugstbn rlahta sball be additlonal aad cumdl~dw ueudb to tbls Mort- t~~• "~i V W n ~ 7 /~{7~