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HomeMy WebLinkAbout0938 ~ ~ f . ~ , { ' E F ot the Mo~a~ee become immediately due and payable. without notlce, and proceedings may be instltutcd sy the ~ort- ~ee for the recoverY thereo[ by foreclosure ot thb Mort~a~e. or In any other manner permltted bp Lw ~s the Mort- ~ ~aQee msy elect, anythtng In the note or tn thfa Mortga~e contalned to the contnry thereto notwitNtaadL~. Upon fore- ~ cloaure ot tAls MoKga~e. the Mort~a~ee sh~li be ailowM ~ a part af the indebtedness secured 1?ercby. and the ~Sort- - ~agor agrees to pay. all costs and expenses incurnd In connecUon therewith. including reaaonable attorney's fea. cost o[ ~ tlUe and tax search and the extensloa to date of an abstract of tttle or tltle pollcy; and in caae such forecloatre proceed- ings are settled betore the consummation thereot or the entry ot iudgmen~ any such costa and expenses and other chuges so ~curred. including a reawnable attorney's fee, shall neveriheless be paid. The MoKgagee or aay pacty 1n in- ~ terest. being the higheat bWder. may be ~ purcl~wsee at any fot~e..i~-ure saie. Any eiect3ar? by tbe Riartgs~ ss hrretn pro- vided for may be exercimed lmmedlately upon default, or at any dme thereatter, and nothing shall be constiued to be a wdver ot such right uNess evidenced by an instrument in wrtt[ng to that efiect duly executed by the Mortgsgee. The Mortgagor walves all right oi lwmestea~d ~nd exemptioa Snnted by tAe ConsUtutlon sad Laws ot Flodda. AND THE MOATGAGOR FURTHEA CONVENAN75 AND AGREFS: 2. Y~~r^~ +Waeh*..~.~..53 ~u intPrPat as in the note ~mvided_ To oay monthl9 unto the MortBaBee. ia addltioa to and at the Wne snd placti for esch psyment ot princtpal and interest. aci installment oL escA o~ the follovv- 1n~ char~ea: ~ <a) Taxes and as~essments~ gener~l or special, and all other charges le~ ted or to be levied a~ainst the premises. (p) premlums to become due and payable for. and to renew, the insurance on the premiaea agalast loaa by Sre and such uther haiaids~ casualties and coatingencies aa herein pro~•ided for or required irom time to time. The emount of the respective monthly instaWnents shall De equal to the amount of the annual respectlve charge next ~ due (as estimated by the Mortgagee)~ leaa all installments already paid therefor, divided by We number ot monthly in- =tall~nents ~*pior becoming due n9t lwter than one mmth prlor to the due date of any such chatge and shalt be sub- t ~ect to increase or decrease to the extent required to create as ot a month~y payment date on the note notlefs than oae ~ month pdor to the due date of any such charge, an amount suHicient for the payment thereof when dlie arid p8yabie. 4 In no event shall the Mortgagee receivin~ sucR payment be liable tor any interest on any amount pald to It as herein ~ requlred, and the money so received may be held with its own funds pending psyment or appllcsUon thereoi as herein pmvided. The Mortgagor shall turnish unto the Mortgagee at least flfteen days betore the due date an official statement of the unonnt of any taxes or astessments next due. and such Mortgagee shall pay the above chasges to the amoant of the th~ unused credit therefor as and when they become severally due aad payable. The Mortgagee mqy. at its optlon. pqy any oi such charges when payable. either before or atter they are delinquent. without notice. or make advances therPior in exces of the then amount of credit tor said char8es. The excess amount advanced shall be linmedLtely due and paqable to the Mortgngee and shall be secured as an additional pr[ndpal sum under this instrument and bear the same ~ rate of taterest icom date of advancement as the principal indebtedness. M official recelpt tBerefor ahall be conclusive ~ ev(dence of auch payment and oi the validity of such charges- The Mortgagee may apply cred[ts held Dy it for the above cha~ges. or any part thereo[, on account of any delinquent installments ot prindpal or intereat or any other payments ~ maturing or due under this instniment and the amount oi credit existing at anY time shall be reduced by the amount thereof paid or applied as herein provided. The amount of the existing credit hereunder a*_ the time of any tranater oi the property shall without assignment thereof Inure to the bene6t of the successor owner of the property and sMll be applled under and subject to all of the provistons hereof. Upon the payment in~ full of the indebtedness, the amount of any unused credit shall be applied to the payment thereof. . The Mortgagee may collect a"late charge" not to exceed four cents <4c) fot' each one dollar <=1.00) of each monthly installment paYment required on the note and under this Mortgage which is more than 8fteen (15) days in arcears, to cover the extra expense involved in handling delinquent payments. 2 To pay. when payable, all taxcs and assessments, general or special, water renta and gmund renta and all other charges whatacever levied upon or assessed or placed against the premises, provision for whlch haa not been made here- inbefose, and wAl promptly deli~er the oHicial receipts thern[or to the Mortgagee; to likewlse pay all taxes, aa~es~enta ~ and other charges. levied upon or assessed, ptaced or mude against this instn~ment, or the indebtedness or any interest of the Mortgagee in the premises or the obligations secured hereby, provided that the payment oi any wch tax aasess- ment or charge by the Mortgagor is not rnntrary to law or would not result in the pevment of an unlawful rate of Inter- est on the lndebtedness hereby secured. In the e.•ent of the passage after the date ot this instrument of at~y law of the 3tate. or subdivision thereof, whPrein the premises are situated, creating or providtng for any tax, ass~ment or charge which bq the above pmviso is not to be paid by the Mortgagor, the indebtedness secured hereby together with iaterest due thereon, shall. st the option oi the ~tortgagee, become immediately due and payable, and in the event payment there- of is not made forthwith, the Mortgagee may take or cause to be taken such action or proceeding as may be taken here- ~ under ln the cate of any other default in the payment of the indebtedness. ~ 3. To keep the buildings an~ additions thereto on or herea[ter erected or placed upon the land inst~red againat loss j by fire and such other hazards, casnalties and contingencies, inctuding war damages it at any time 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 periods. as roay be required irom Wne to time by the Mortgagee, and to pay promptly when due all premiums on such Insurance, provision for pay- ment of which haa not been made hereinbefore. The policies of insurance shall have loas psyable provlslor~ acceptable to the Mortgagee and shall be del[vered to and heid by the Mortgagee, or as It may direct, unW thls Mortgage is satisged. Renewal pollcies of insurance, premiums tor which have been tully paid, are to be furnished to the Mortgagee at least nfteen days prior to the expiration date of the insurance thereby renewed. The lnsurance shaII be written ln companies approved by the Mortgagee: in no e~ent shall the Mortgagee be held responsible for failure to pay for any insurance vvrttten or for any loss or damage growing out of a defect in any poUcy or growing out of any tailure of any insurance compsny to pay for any loss or damage insured against. In the event oi loas the Mortgagor shall give immediate notice by mail to the Mortgagee who may make proof of loss if not made promptty by the Mortgsgor; each insurance rnmpany ooncerned ia.hereby suthorized and directed to make payment for los. direcUy to the Mortgagee instead of to the Mort- gagor and the Mortgagee joinUy; the insurance proceeds. or any part thereof, may 6e applled by the Mortgagee. at ita option, to.the expenses, it any. incurred by it in ihe collection thereof, to the reduction of the indebtedness hereby se- cured. to the restoration or repair ot the property damaged, or released to the Mortgagor without llablllty upon the Mort- gagee tor such releame. All polictes of [nsurance are herebq assigned W the Mortgagee as addiUonal securlty for the pay- ment of the sums and interest aecured hereby; in the event of foreclosurr of this Mortgage or other trenater of tltlo to the premises in exUngutshment ot the indebtedness, all right, title and interest of the Mortgagor in and to any it~wrance polldes then in force shall pass to the purchaser or grantee. 4. To complete within a reasonable time any building or buildings now or at any time it? the process of erectton upon the land and to promptly repair, restore or rebuild any building or impmvementa now or hereafter on the land whicL may beoome dam~ged or be deatroyed, and not commit or permit to be done or euist on or sbout tAe prembes anythin~ wherebq the premises shall become less valuaY,le; to cqmply with all laws, rules, regulatfons, or ordinances of any govera- ~ menCal agencq and not violate or permit the vialation as to the premises of any buflding or use restrtctlom; to keep the o"~ land and improvements thereon free from mechanic's and materialmen's llens and wlll not auffer any Hen superior to the ~ 11en created by thla instrument to attach to or be entorced against the premises S. Ii default De made in the payment ot taxes. assessments, llens, claims, insurance premlums or any other charge whatsoever. or any part thereof. or in the performance of any act, to be paid or pedormed by the Morteagor ~wder the ~ provldons hrreof, the Mortgagee may, at ita option, malce payment thereof or pertorru sny act requircd ot the Mortgagor s~ in any lorm or manner deemed expedient and pay aey other sum that b necessary to protect the secudty ot thls instzv- ment; the amounts so paid. with faterest thereon from the date of such payment at the aame nte as borne by the prin- c1pa1 indebtedneas. stuli be asseszed as an addiUonal lien on the premises and shall be added to aad beoome a part of tbe fndeDtedneas secured herebq and be immediately due and psyable to the Mortgagee. My payment hereby aut6orlxed to be made by the Mortgagee may be made acc~ording to anp bW. statement or estimate furnW~ed or pmcured irom tbe appro- prlate publlc office or the party claiming payment without laquiry tnW the accuracy or valldisy thereo[. and the reoeipt M - aay public o~oer or party In the hands oi the Mortgagee shsll be conclusive evidence oi the valldlq? uW amount of item~ w patd• the Mortgagee ahall. at its opUon, be subrogated to any encumbrsnce, llen, claim or demuid. and to al! the ri~,ht~ aud ~ecurlUes for the payment thereoi. pald ~ discharged with the princiPal sum iecured hereby or bY the Mort~ee nnder Ule provWons hereof. and any such abm$aUon righta ihall be addidonal and eumuLtive ~ecusity to tbfs 1[ort- . b~~~. P~~f ~ - _ , ~ ~ _ d~= ; F - a