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HomeMy WebLinkAbout0029 ot the Mortgagee become immediately due and payable. w[thout notice. end proceedings may be instituted by the Mort- gagee for the recovery thereoi by toreclosure of thls Mortgage. or in any other mu?ner permftted by law as the Mort- gagee msy elect. ~nythtng fn the note or in thls Mortga~e contalned to the ooatrary thereto notwlthstending. Upon fore- closure of this Mortgage, the Mortgagee shell be allowed as a part of the ti?debtednes4 secured hereby. and the Mort- gagor agrees to pay. all coata and expenses incurred in connecUon therewith, including reasoneDle ettorney's iees. cost ot title and tax search and•t3~e extenslon to date of an ebatractof tttle or tiUe policy; and in case atch fonclosure proc~ed- inga are settled before the conaummation thereof or the entry ot iudgmen~ any auch casts snd expenses and other charges so incurred. including a reasonable attorney's fee. shall nevertheless be paid. The Mortgagee or aqy party in in- teres~ Deing the highest bidder. may be a purchaaer at sny forecloaure sale. My electlon by the Mortgagee ss herein pro- vided for may be exercised immedlately upon defaul~ or at any time thereafter. and nothing ahall be construed to be a waiver of such right unless evidenced by an inatrument in writ[ng to that et[ect duly executed by the Mortgagee. The Mortgagor waives all right ot Iwmestead snd exeit~ptia? granted by the ConstltuUon and Lsws o! Florida. AI~'D THE MORTGAGOIi FURTHEB CONVENAN'15 AND AGREFS: 1. To pqy the prtncipat lndebtedness with interest as in the note provlded. To pay monthly unto Ne Mortgagee, 1n addition to and at the Ume and place for each payment ot pdncipal and interest. an instaliment of each of the tollow- ing charges: (e) Taxes and assessinents„ general or special. and all other charges l~vied ~r to be levfed againat the premises. (b) Premiums to become due and payable for. and to renew, the insurance on the premisea aga[nit lan by Sre and such other haurds ca.cualUea and contingencies a~s herein prnvided for or required from Wne to Ume. The amount of the respective monthly tnstalltnents shall be equal to the amount oi the annual respecUve charge next due taa esttmated by the Mortgagee). less all tnstaliments a~ready patd therefor. djvided by the number oi monWy in- stallments tLerefor becoming due not later than one month prlor to the due date oi any such charge snd ahnll be sub- fect to incrPase or decreaae to the extent re9uinrl to create as of a monWy payment date oa the note not leas than one month prtor to the due date of any such charBe. an a~mount sufficient for the psyment thereof when due nnd 'payable. In no event shall the Mortgagee recefvln8 such PaYment be liable tor any interest on any amount paid ~ to it as herein required. and the money ao received may be held with !ts own funds pendlag payment or applicaUon thereof as herein provided. The Mortgagor ahall furntsh unto the Mortgagee at lea~t Stteen days betore the due date an official statement oi the amount of any taues or aaxssments next due. and such Mortgagee shall pay the above charges to the amount of the then unused credlt therefor e~s and when they become severally due and payable. The Mortgagee may. at its optton. pay any oi such chargea when payable. either before or atter they are deW?quea~ without notice. or make advances therefor ia exceas oi the then amount of credit for said charBea. T1?e excess amouat advsnced shall be immediately due and payable to the Mortgagee and shall De aecured as an addtUonal princ[pal aum under this lnstrument and bear the same rate of interest irom date of advancement as ihe prlncipal indebtedness. An otficial recelpt theretor sAall be conclusive evidence of such payment and of the valldity of such chsrges. The Mortgagee may spply credits held by it for the above charges, or any part thereot, on a~ount of any delinquent lnstallmenis ot prindpal or lnterest or any other payments matur[ng or due under this instrument and the amount o[ credit existlng at any time shall be reduced by the t~mount thereof paid or appIIed es heretn pmvided. The amount of the existing credlt hereunder at the tlme oi any transter of the property shall without a~lgnment tliereoi inure to the bene8t ot the successor owner oi the property aad shall be applied under and subject to aU of the provisions hereof. Upon the payment in full of the indebtedness, the amount ot any unused credit ahall be appUed to the payment thereof. The Mortgagee may collect a"iate charge" not to exceed four cents <9c) for each one doAar (i1.00) oi each monthly installment payment required on the note and under this Mortgage whtch is more than H[teen (15) days in arreazs, to cover the extra expense involved in handling dellnquent payments. 2. To pay. when payable. sll taxes and assessments, general or special, water rents and ground renLs and all other charges whatsoever levied upon or a~sed or placed against the premfaes, provision for whlch has not been made here- 3nbefore. and will pmmpUy deliver the oHicial receipts theretor to the Mortgagee; to likewise pay ell taxes. assess~nents and other chargea. levted upon or assessed. placed or made against this instrument, or the Indebtednesa or any tnterest of the Mortgagee in the premimea or the obligatlons secured hereby. provided that the p~yment of any auch tax assess- ment or charge by the Mortgagor is not contrary to law or would not result In the pavment oi en unlawtui rate of inter- est on the indebtedness hereby secured. In ttie event of the passage after the date oi thLs inatrument of eny law of the State. or subdivision thereof. wherein the premises are situated, creating or pmv[ding for any tax. asseasment or charge which by the above proviso is not to be paid by the Mortgagor, the indebtedness aecured hereby together with interesi due thereon, shall. at tlte option of the Mortgagee, become immedlately due and payable, and In the event pqymeat fhere- ~ of b not tnade forthwith, the Mortgagee may take or cause to be taken such aMion or proceeding as may be taken herP- ! under 1n the case oi any other default in the payment oi the indebtedness. I 3. To keep Lhe buildinga and additions thereto on or hereafter erected or placed upon the land lnsut^ed against loss ; by fire and auch other hazards, casualUes and rnntingeirctes. including war damagea it at any time a atate ot war eadsts or ~ it appears to the holder of the note that war is imminen~ and in such amounts and for such perlods, as maq be required irom time to time by the Mortgagee, and to pay promptly when d~e all premiums on such insurance, provLsion for pay- ment of which has not been made hereinbefore. The policies of insurance shall have loss payable provLdona acceptable to ~ the Mortgagee and shall be deHvered to and held by the Mortgagee, or as it may direct, until thls Mortgage is satistied. Renewal policies of insurance, premiums for whtch have been fully paid, are to be itlrNshed to the Mortgagee at least niteen days prlor to the exptration date of the insurance thereby reneared. The tawrance ahall be wrttten in companies ~ appmved by the Mortgagee; ie: no event shail the Mortgagee be held responsiWe for failure to pay for anq insttrance written or for any loss or damage growing out oi a detect in any pollcy or growing out of any failure of any insurance ~ company to pay for any lass or dsmage [nsured against. In the event of loss the Mortgagor ahall give immediate notice ~ by mail to the Mortgagee who may make proof of loss if not made pmmpUy by the Mortgagor; each insurance compar?y concerned is. hereby suthorized and directed to make payment for loss direcUy to the Mortgagee instead of to the Mort- gagor and the Mortgagee joinUy; fhe insurance proceeds. or any part thereof. may be appl[ed by the Mortgagee, at its option, to the expenses, it any, incurred by it in the collecUon thereof. to the reduction of the indebtedneas hereby se- cured, to the restoration or repair of the property damaged, or released to the Morigagor without liability upon the Mort- gagee for such release. All pollcles ot insurance are hereby assigned to the Mortgagee as additlonal securlty for the pay- ment of the sums and interest secured hereby; in the event ot foreclosure of thls Mortgage or other transter of tltlo to the premLses in extingufahment oi the indebtedness, all rlght, title and Interest of the Mortgagor in and to any insurance policies then in force shall paas to the puirhaser or grantee. ~ 4. To rnmplete within a reasonable time any building or buildings now or at any time in the process of erectton upon ~ tLe land and to promptly repair, restore or rebulld any bullding or improvements now or hereafter on the land whlch ~ may become damaged or be destmyed. and not oommft or permit to be done or exiat mi or aboat the prEmises anything ~ whereby the premises shall become lesa valu4bie• ta rnmply with all laws. rules, regulaUons, or oMinances oi anq gwern- ~ mental agenry and not violate or permit the violation aa to the premise.4 of any bullding or use restrictions; to keep the ~ land and impmvementa thereon iree irom mechaniNs and materlalmen's liens and will not autler any 11en auperlor to the lten created by thLs insttument to attach to or be enforced against the premL9es. ~ S. I[ detault De made in the payment of taxes, as~srnents, liens. clafms, Insurance premluma or any other charge ~ whatscever. or any part thereof. or in the performance of any act, to be pald or per[ormed by the Mort~agor nnder the pmvidons hereof, the Mortgagee may, at ib option, make payment thereoi or pedorm any act requfred oi the Mortgagor in any form or manner deemed expedlent and pay any other sum that is necessary to pmtect the secudtq ot thLs instru- ment• trie amounts so peld. arlth interest thereon from the date of such payment at the saine rate aa borne by the pr~n- ~ cipal indebtedness, shall be assea~ed as an additlonal lten on the premises and shall be added to aad beoome a part ot the lndebtedness secured hereby and be Immediately due and payable to the Mortgagee. My payment hereby authorized to be made by the Mortgagee may be made according to any bW. statement or estimate furn~hed or procured from the appro- ~ prlate public office or the party clsimSng payment without fnquiry into the accuracy or vWdlty thereot. ufd the reoelpt o! any pubHc oIDoer or party in the hands oi the Mortgagee shall be conclusive evi8ence ot tlie valtdity aad amount oi item~ ? io paid: the Mortgagee shall, at its opUon, be subrogated to any encumbrence, lle~, clalm or demand, ~nd to W tbe rl~bts ~ and sccudtlea for the nt thereoi, patd or discharged wlth the rlnci ° under tlte pravlsioas hereof. aad any such subrogation dghU stutl be ed~dldoaal and tumulaW~e ~ecudti th4 Mort s~• . U R ~ ~ BOOK PAG£ ~ ~ „ . : ~ ~ :N : ~ , ~`"t"y~.~'~v ~~rn~r`"~' - .i 'p ' x y~ f.~#`a~~se _ . ~ .:~9E'~~~~.r~ . , _ .