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HomeMy WebLinkAbout1859 ot the Mortgagee become immediately due and payable, w•ithout notice, and proceedings may be insdtuted by the Mort- gagee tor the recovery thernot by toreclosuce of thia Mortgage, or in us~y other mnnner permlited by law aa the Mort- gagee rnay elect, anything fn the note or in thb Mortgege contained to thP conlrary thereto notwlthstandln~. Upon fore- closure ot this Moctgage, the Mort~egee st~all be Wowed u a par~ of the indebtedness aecured hereby, and the Mort- gagor agrPes to pey, Rll coats and expenses incurred in rnnnectinn therew~ith, including reaso~able attorney's tees, cost ot title and tax search and the extension to dete ot an nbstract• :iue or ~tile policy; and in case such forecloaure proceed- ings are settled betore the consuaunation the~eot or t1?e e~ ~ of judgment, any such costs ~nd expenses and other charges so incurred, including a rea~onable attorney's ft.. :1l ne~~rrtAeless be paid. The Mortgagee or any party ir~ in- terns~ being tAe highest bidder, may be a purchaser at any foreclcuure sale. Any election Dy the Mortgagee as hem[n pro- vided for may be exerclsed immediately upon deteult, or at any time themaiter, and nothing shall be constnted to be s waiver ot such right unless evidertced Dy en instrument in writing to thet etiect duly executed by the Mortgagee. The Mortgagor waives all right ot homestead end exemptioa grantrd ~y the Cunstitution and Laws ot Florlda. AND THE MORTGAGOR FURTHER CONVENAN'I'S AND ACRF.FS- 1. To pay the principt?I indebtednes4 wlth interest ss in the note ~sm~•ided. To pay montNy unto the Mortgagee. In nddition to and at the dme and place tor each psyment of principal and interest, an installment ot each of the tollow- ing charges: (a) Taxes and assessments, general or special, and all other charK~s 1<<Ied or to be levied against the premises. (b) Premiums to become due and payable tor, and to renew~, the insurance on the Fremises against lo~s by Sre and such other harards, cdsuslUes and cont[ngencies bs herein pru~•ided [or or requlred from time to tlme. The amount of the respecUve monthly installments shall be c~~ual to the amount ot the annual respectlve charge next due (as esf3msted by the Mortgagee)~ lest all installments already paid theretor, divlded by the number of monthly in- stallments therefor becoming due not later than one month prior to the due date of any auch charge and shall be sub- ject to increase or decrease to the extent required to create as uf a monthly payment date on the note not less than one month prtor to the due date ot any such charge, an amount suHicient tor the payment there~f when due and ~ayable. i In no event shall the Mortgagee receiring such pa~~ment De :iable tor any [nterest on any amount pafd to it as herein required. and the money so received may be held with its own funds pending payment or application thereo[ as herein provided. The Mortgagor shall furnish unto the Diortgagee at least 9lteen days before the due dste an oQicia! statement ; of the amount of any taxes or assessmenis next due, and such Mortgagee ahall pay the above charges to the amount ot the t1?en unused credit therefor as ~nd when tAey become severally due and payable. The Mortgagee may, at Sts option, pay any of such charges when payable, either before or atter they are delinquent, without noUce~ or make advances therefor in excess of the then amount of credit for said charges. The excest amount ad~•anced shall be immediately due and payable to the Diortgagce and shall be secured as an additional prtncipal sum under tNs lnstrument and bear the same rate ot tnterest from date ot advancement as the principal indebtedness. M official receipt therefor shali be conclusive evidence of such payment and of the ~•alidity of such charges. The Mongagee may apply credits held by it for the abo~e charges, or any part thereof, on acco~~nt ot any dellnquent installmenta ot prtncipe~l or interest or any other payments maturing or due under this instniment and the amount o[ credit existing at any time shali be ceduced by the amount thereoi pald or applied as hernin pra~~ided. The amount ot the existing credit hereunder at the time of any transfer of the pmperty ahall without assi~nment thereot inure to the benefit o1 the successor owner ~f the pmperty and st~all be applled under and subject to all of th~~ E~ru~•isions hercot. lipon thc~ pa~•ment in tull of the indebtedness, the amount of any unused Cri'dit shall be applied to the pa~•ment thereof. ; The Mortgagee ma~• collect a"late chark.•" not to exceed [vur cents ~~c? foC each one dollar (51.00) ot each monthly • installment payment reyuired on thc~ nute and under this ~tortgage K•hich is more than fi[teen (15) days in arrears, to cover the extra expensc im~oi~•ed in handlink delinquent paymcnts. 2. To pay, when payable, ail tas~•s and asses~smcnts. ~eneral ur special, w•ater rnnts and ground rents and all other eharges whatsoe~er le~•ied upon or as.aesseci or placed against the premises, pro~•isiun for wRich ha4 not been made here- inbefore, and will promptl}• deli~•er the officiai receipts theref~~r to the ~Sortgagee: to likewise pay al! taxes~ assesvnents and other charges, levied upon or as~esced, j~lacrd or made akainst tAis instrument, or the [ndebtedness or any intereat of the Mortgagee in the premises or the c,Dligations s~cured hereb~, proz•ided that the payment ot eny suCh tax assess- ment or charge by the ~iortgagor is not r.~ntran• to !aw or would not msult in the pavment of an unlawful rate of tnter- j est on the indebtednest hemby secur~. In ihc t~.ent ot the passage atter the date ot this instrument of any Isw of the State, or subdi~~ision thereot, wherein the pr~•mises are situated. creating or pro~•iding for any tax, assessrnent or cha~ge ~ which by the above prociso is not to Ue paid by thc ~tortgagor, the indebtedness secured hernby together with interest due thereon, shall, at the option of thc tiiort~;a~;ec~, hecome immediately due and payable, and in the event payment there- ~ of is not made forthwith, the Mortgagee may takr or cause to be taken such action or proceeding as may be taken here- - under 1n the case of any other default in the pa~•ment of the indebtedness. ~ 3. To keep the buildings and additions thereto on or hereatler erected or placed upon the land insured against loss by fire and s~ch other hazards, casualties and contin~;ertcies, including war damages if at any time a state of war exists or ft appears to the holder of the note that w•ar is imminent, and in such amounts and for such perlods, as may be required f~+om time to time by the Aiortgagee, and tb pa~ prompUy when due all premiums on such insurance, provision for pay- ~ ment of which has not been .made hereinbeturn. The policies o[ insurance shall na~•e loss payable provisions acceptable to ~ the 1lfortgagee and shall be delicered to and held by the Diortgagee, or as it may direct, until thls Mortgage is satisfted. ~ Renewal policies ot insurance, premiums for v?hich ha~•e been fuUy paid, are to be furnished to the Mortgagee at least s Sfteen days prior to the expiration date of the insurance thereby renewed. The lnsurance shall be written ir. companles approved by the Mortgagee; in no e~•ent shall the Morlgagee be held responsible for failure to pay for any insurance written or for any loss or damage growing out of a defect in any policy or growing out of any fa[lure of any insurance ~ company to pay tor any loss or damuge insured against. In the e~•ent of loss the Mortgagor shall give immediate nottce ; by mail to the blortgagee w~ho may make prc~f of loss it not made promptly by the Mortgagor; each insurance company ` rnncerned is_hereby authorized and directed to make payment for loss direeqy to the Mortgagee instead of to the biort- ~ gagor and the ;4lortgagee joinUy; the insurance proceeds, or any part thereof, may be applied by the Mortgagee, at its ~ option, to the expenses, it any, incurred by it in the collection thereof, to the reduction of the lndebtedness hereby se- cured, to the restoration or repair of the property damaged, or released to the Mortgagor without liabillty upon the Mort- ~ gagee for such release. All policles of insurance are hereby assigned to the Mortgagee as additional security for the pay- ~ ment of the sums and interest aecured hereby; in the event ot toreclosure ot this Mortgage or other transfer ot titlo to the ¢ premises in extinguishment of the indebtedness, all right, title and interest ot the Mortgagor in and to any insnzsnce polides then in torce shall pa~ to the purchaser or grantee. ~ 4. To complete within a reasonable time any building or buildings now or at any time in the process of erection upon ' the land and to promptly repair, restore or rebuild any building or improvements now or hereafter on the land whlch may become damaged or be destroyed, and not commit or permit to be done or exlst on or about the premiaes anything whereby thP premises shall become less ti~aluable; to comply with all laws, rules, regulations, or ordlnancts of any gwern- > ° c s mental agency and not vlolate or permit the ~iolation aS to the premises oi any bujlding or use restricttons; to keep the ? # land and improvements thereon free irom mechanic's and materialmen's liens and will not suf[er any llen superlor to the - Ifen created by this instrument to attach to or be entorced against the prnmises. 5. I[ detault De made in the payment of taxes, ~ss~sments, Iiens, claims, insurance premiums or any other charge whatsoever, or any part thereof, or in the peHormance e~(any act, to be paid or performed by the Mortgagor under the provWons hereof, the Mortgagee may, at its option. make payment thereof or perform any act required of the Mortgagor - W any form or manner deemed expedient and pay any other sum that is necessary to protect the securtty of thfs tnttru- _ ment; the amounts ao paid. wlth interest thereon fmm the date of such payment at the same rate as borne by the prln- cipai Indebtedness, shall be asseseed as en additional lien on the premises and shall be added to and Ixcome a part of the ~ fndeDtedne~ secured hereby and be lmmediately due and payable to the Mortgagee. Any payment hereby suthorized to be made by the Mortgagee may be made according to any bW, statement or estimate furnist~ed ot procured trom tde appro- _ prlate public oHice or the party claiming payment without lnquiry Into the accuracy or validlty thereof, and the receipt of aay public officer or psrty in the hands of the Mortgagee shall be conclusive evidence of the valtdlty and amount of ltems ~a ~o pa1d: the Mortgagee shall, at 1ts option, be subrogated to any encumbrance, llen, claim or demand, and to all the righta - ~nd iecurlUes for the payment thereof. pald or dLscharged wlth the principal sum secured hereby or by the Mort~a~ee under tAe provf~ions hereof, and any such submgaUon righta st~all be additlonal and cumulaUve ~ecurtty to thls Mort- i~- = so~~ ~1858 ~ ~ , ~ E - ~ - I 9 _ r.~~ r~ . Pn'C ' 3i ~ ' - _ ~ h~r1% J si -a- c ~ f -."'°vr,•` ~ ~s::; x-?+~ ~W-. . ~ T ''r . . _ . _ ~ . . -t", ?r-'''m,d.s: