Loading...
HomeMy WebLinkAbout1758 oi the MortgRgee become immedlatety due and p~.yable. w[thout notlce, and proccedin~s may be lnstltuted by the Mort- ~a~ee tor tl~e recovery thereot Dy foreclosure ot thls Mortgage, or In any other msnner perrNtted bp law as ths Mort- ~agee mqr elect, an~thta` In the note or in thls MorigsQe ooatalned to the contrary thento notwtthttandins. Upwr fore- cloauce d this Mott~a~e. tbe 11[oetsa~ee sRW be allowed as s pal't oi the IndeDtednas secured Aereby. s~nd tRe Mort- ~agor a~e~s to pay. all co~ts and espen~es incurred 1n connection therewith. including reaaoaable attoraey's iees. cast ot tltle and tax aearch ~nd the extendoa to date ot an abstnet of title or title policy; and 1n caae acl~ ioreclosure proceed- Ings are setUed before the consummadon tliereof or the entry of ~udgment. any auch casts and expenses and other chuges so lacurred. includin~ a se~sor?able ~ttoraey's fee, shall nevertheless be pafd. The Modgagee or arq? psrty !n in• teerst. bein~ We hl~hest bldder, tnay be a purcha+er at any forecloaure sale. My election by the Mortgaeee as hereln pro- vided for msy be exerclaed lnnmedlately upon default, or at any time thereatter. and nothing shall be constived to be a waiver ot such right unless evideACed by an instrument in writing to that eHect duly executed by the Mortgsgee. The MortgaQor wdves all rtght of homestead and enemptlon 6ranted by the ConstltuUon and Laws ot Florlda. AND 'PHE MORTGAGOR FURTFIER CONVENANtS AND AGREFS: 1. To pey the pr[nctpal iadebtedness with intereat as in the note provided. To psy monthly unto the Mortgagee. 1n addlUon to and at the tlrae and place for each pnyment of pdndpal and interest. an installment of each oi the follow- !ng clur~a: . (v Teuces aed a,ssessrnentar general or special. and all other charges levied or to be levied against the premises. (D) Premiums to become due and payable tor. and to renew, the insurance on the premises againat loas by Sre and such other hamtds~ qsualUes and con es as herein pro~~ided tor or requtred irom Wne to time. The amount at the respecttve monthly Installm~shall be equal to the amount of the annual reapective charge next due (aa atimated by the Mortga~ee). leas ell instaWneats already paid therefor. divided by the nua~Der aI monWy !n- stallments therefor becomin~ due not Lter than one manth prlor to the due date oi pny such charge atW shaU be sub- ~ect W lncrerse or decrease to the ezteat rMuLred to create as of a monthly payment date on the note not leas than one ~ month prior to the due date ot any such cAarBe. an an'?ount su~icieat for the psyment thereof when due aad payable. In no e~t shall the Mortgagee receiving such paymel~t be-11a~1e for any-intcrest on eny amount patd to it at herein reqaired~ and t6e money so received m~y be held with its oan funds pending pe~yment or appUcaUon thereoi as hereln pravided. The MortBaBor shalt furntsh unto the Mortgagee at least niteen days before the due date an o~fcLl statement of We amouat oi any texes or as~ssments next due, and such Mortgsgee shall pqy the above charges to the aa~ount oi the tAen unused credit therefor as and when they become ceverallY due ~ payable. The Mortgagee may. at its option. pay any of such charges when payable. either before or aiter they are delinquent. vvlthout nottce. or make advances theretor in paccess oi the then amount oi credit for said charBes. The excess amount advanced shall be lrinmediatety due and peUrable to the Mortgngee and shall be secured as an additbnal prindpel sum under tWs tnstivment end bear the same rste of [aterest irom date of advancement as the principal indebtednesa. An official recNpt therefor ahall be c~clusive evtdence of such payment and of the vel~dity of such chargcs. The Mortgagee may apply credi4 held by it for the above cLaige~ or any pert thereof, on account of any delinquent installmenb of prindpal or lntereat or any other payments maturi~tg or due under this instrument and the amount ot credit existing at anY time shall be reduced by the amount thenwf paid or appl~ed as herein provided. The amount of the existing credit hereunder at the dme oi any tnns[er oi the property shali without assiSnment thereof inure to the bene8t oi the successor owner ot the pmperty and ahall be applied under and subject to all of the provisions hereof. Upon the payment in tull of the indebtedness, the amount of any unused credit shall be applled to the payment thereof. Tbe Mortgagee may collect a"late charge" not to exceed four cents <4c? tor each one doller (i1.00) ot each monthly lnstallaoent payment required on the note and under this. Mortgage which is morn than Sfteen <15) days in arrears, to cOVer tbe eutra expense involved in handling delinquent payments 2 To pay?. when payable, all taxes and assessments, generat or special, water rnnts and ground rents and all other cbarges whatscever levied upon or assessed or placed against the premises, provision for wNch has not been made here- inbefore. and wW promptly deliver the of[icial receipts there[or to the Mortgagee• to likewise pay all taxes. aseeaaments and ot1~r charges. levied upon or assessed, placed or made against this instrurhen~ or the indebtedneas or sny interest oi the Mortgagee tn the premises or the obligations secured hereby, ptovlded that the paymeAt of any suCl? tax assess- ment or charge by the Mortgagor is not rnntrary to iaw or wouia not ~suit in tne psvmens of an uniawiul raie of inier- - est on tRe lndebtedness hereby secured. In the e~•ent of the passage atter the date of this inatrument o1 anq Lw of the State. or subdivLtion thereot, wherein the premises are situated, creating or pmviding for any tax, assessment or charge whicA by Ute above proviso is not to be paid by the Mortgagor, the indebtedness secured hereby together with interest due tDereon~ ahall, at the option of the Mortgagee, become immediately due and payable, and in the event payment Were- I of b not made forthwith, the Mortgagee may take o~ cause to be taken such action or proceeding as may be taken here- tmdet 1n the case of any other default in the payment of the indebtedness. ! 3. To keep the buildings and additions thereto on or hereatter erected or placed upon the land iatured against loss by ~re and such other hazards, casualties and contingertcies, including war damages if at any tlme a state oi war exists or it appears to the holder of the note that war is imminent, and in such amounts and for such perbds. as may be requ[red trom time to time by the Mortgagee, and to pay promptly when due all premiums on such lnsurance. provWon for pay- ment of which has not been made hereinbetore. The pvlicies ot insurance shall have loss. payable pmvWons acoeptable to the Mortgagee and shall be delivered to and held by the Mortgagee. or as it may direct, untq thls Mortgage is satisHed. Renewal po8cies of insurance. premiums for which have been fully paid, are to be turnished to the Mortgagce at least niteen days prior to the expiration date of the insurance thereby renewed. Tbe lnsurance ahall be wrlttm in compani~s appmved by the Mortgagee: tn no event shall the Mortgagee be held responsible for fsilure to pay for any insuranae wrltten or for any lost or damage growing out of a defect in any poUcy or gmwing out of any failure of anq insurance company to pay for any lass or demage insured against. In the event of loss the Mortgagor shall give luuriedtate notice by mail to the Mortgagee who may make proo[ of loss ii not made pmmptly by the Mortgagor; each lnsuranoe company ooncerned is_hereby authorized and directed to make payment for loss directly to the Moctgagee Instead oi to the Mort- ~agor and the Mortgagee joinUy; the insurance Proceeds. or any part thereot. may be appl[ed by the Mortgagee. at 1ta option. to the expenses, it any. incurred by it in the collection thereof, to the reduction of the Indebtednds hereby se- cut+ed. to the restoration or repair ot the pmpecty damaged, or released to the Mortgagor w~ithout llability upon the •Mort- gagee for such release. All poBdes of inaurance are hereby assigned to the Mortgagee as additional secudty for We pay- ment oi the suans and interest secured hereby; in the event ot foreclosare of this Mortgage or otl~er tr~fsier o! tltla to the premises In eath~guist~ment o[ the lndebtedness, sll right, tltle and interest of the Mortgagor in and to any fnatrance policks thea in force shail pass to the purchaser or grantee. 4. To oo~nplete aithin a reasonable tlme any building or buildings now or at any time in the pt~ooess of erecUon upotf t6e land and to promptly repair. restore or mbulld any building or impmvemenfs now or hereafter on tt~e land wl~lch me?~r pecome d~m~g~r1 or be destroyed, a~ not commft or permit to be done or ezist oa or ~batt the premisa anythtng whereby the premisea shall become lea valuable• to comply with al! lawa, rules. regulatlons, or ordinsnoa of any gavern- „ mentd a~tnc~r and not violate or permit the violatlon eh to the premiees of any bullding or uae restrictioos; to keep the land and improvemes~fs thereon iree irom mechanic's and materialmen's llens and wW not saffer aqy Hen supetior to the ifen created by this instrument to attach to or be enforced against the premises S. It deiatilt De made in the payment-o[ taxes, a~menta, llens, claims, insurance premiums or any other charge whatsoever, or any part thereot, or in the pertormance ot any act. to be patd or pedormed by the Mort~agor under tLe , provWotts Les+eof~ tl~e Mort~agee maq, at its option. make payment thereoi or perform any act requfred o[ the Mortga~ar la any fosm ~ manner deemed expedient and pay any other sum that 1s necessary to protect tLe securlty oi W1s instru- mtnt; tde unounts so patd, ar[th [nterest thereon irom the date ot such payment at t6e :ame rate ~s Dorne b}? tLe ptin- dpal fndebtednea~. sball be as~es~ed ~ an addittonal llea on the premjses and shall be added to aad beooa~e a part at the ladebtednes secured hereDy and be immediately due and payable to the Mortgagee• My payment hereb~ autbori~ed to be made by the ldortg~gee may be made according to at~y bW. statement or eatimate furnished or procured trcm the appro- 0~~ Publie offiae or the P~'~7 ~nB W3'mer?t wftlaut lnquiry into the accuracy or valldttp thereo~ ~ad tDe reoefpt o! any publk o~cer or psrty in the h~nds ot the Mortgagee sl~all be conclusive evtdence of tbe validitp and amount ot iteau~ ~o Pdd: the l[ortpsee sba11. at its optlon, be wDrogated to any encumbrance. 11en. clalm ar demand, aud to all tbe tl~hts and ~ec~dtles fae the pa~aient thereol. Pald oc disr]~ar~ed with Ne princiPal snm ~ecured hereb~ or bp th~ Yortp~ee nnder tne pravirons l~ereo~ and mr wch subrogatbn rtghts ahail be additlonal and cumuLWe ~ecuslt~ to ibb l[ort- Ps~- 60oK~~ PAGE~ 1 ~ 1