Loading...
HomeMy WebLinkAbout1710 ot the Aiort~agee become Immediately due and payable, wlthout notice, and pra~eediugs may be instituted by the Mori- gagee tor the recovery thereof by foreclosure ot this Mortgage, or In any other mannei pern~3tted by lsw as the Tiort- gagee may elect, anything 1n the note or in thls Mortgage contalned to the contrary thernto notwithstanding. Upon tore- closure ot this Mortgage, the Mort~agee ahell be allowed es a part ot the indebtedness secured hereby, and the Dlort- gagor agrees to pay, ali costs and expenses incurred ln connection therewith, jncluding reasonable attorney's fees, cost ot title and tax search and the extension to date ot an abstract ot title or title policy; and in case such torecloaure proceed- ings are settled betore the consummation tAereo! or the entry ot judgment, any such costs snd expenses and other charges so incurred, including a reuonable attorney'a fee, ahall ne~~ertheless be pa1d. The Nlortgagee or sny party in in- terest, bcing the hlghest bidder, may be a purchaser at any foreclosure sale. Any electfon by the Mortgagee as herefn pro- ~•ided tor may be exercLsed lmmedintely upon detault. or at any time thereatter, and nothing shall be constnied to be a wa~~•e~ ot such rigAt unless evtdenced by ar~ instrument in writing to that ettect duty executed by the Mortgngee. The :Hortgagor wai~•es all right ot homestead snd exemption granted by the Constttutton and I.aws o[ Floride. AND 't'~iE ~tORTGAGOR FURTHER CONVENANTS AND ACRF.FS: 1. To pay tf e principal indebtedness wit!? Interest as in the note pra~-idPd. To pay muntNy ur?to the I?lortgagee, in addition to a?nd at the Ume and place tor each peyment of principal and incerest, an install~nent oi each ot the follow- ing chargea: (a) Taxes and assessments, general or specisl, and ell other charges le~:ed or to be le~~led against the pmmtses. ~b> Premiums to become due and payable Lor. and to renew, the insurancr on the premises agalnct loss by Rre and such other ha~ards, casualties and conttngencies as herein provided tor or required trom tlme to Wne. The amount oi the rnspecUve monthly installments shall be eyual to the amount ot !he annual respecttve charge next due las estimated by the Mortgagee), less all instaliments alreadp paid there[or, divided by the number o1 monthly in- atallments therefor Uecoming due not later than one month prior to the due date of eny such charge and shall be sub- fect to increase or decrease to the extent rzyuired to create as ot a monthly payment date on the note not less than one month prtor to the due date of any such charge, an amount suKicient tor the pay-ment thereot when due and payable. In no e~ent shall the Mortgagee recei~~ing such payTnent be liable for any interest on any amount paid to it as herein required, and the money so mceived may be held with its own funds pending payment or ap~lication thereof as here[n pro~~ided. The Mortgagor shall furnish unto the ~iortgagee at leasl flfteen da~•s before the due date an oHicial statement ot the amount ot any taxes or assessments next due, and such Mortgagee shall pay the above charges to the amount of the then unused credit thernfor ac and when they become severally due and payable. The Diortgagee may, at lts option, pay any of such chargec v?~hen payable, either before or after they are delinquent, wtthout notice, or make ad~ances therefor tn exces4 of the then amount ot credit for said charges. The excess amount advanced shall be Immediately due and pa~able to the Tlortgagee and shall be secured as an additiona! principal sum under this instrument and bear the same rnte ot interest irom date ot ad~•ancement as the principal lndebtedness. M oflicial receipt therefor shall be conclusive evidence o[ such payment and ot the validity ot such charges. The Mortgagee r.iay apply credi4t held by it tor the above charges, or any i~att thereot, on account o[ any delinqnent installments o[ principal or interest or any other payments maturing or due under this instniment and the amount o[ credit existing at any time shal! be reduced by the amount thereot paid or applied as herein provided. The amount of the P?cisting credit hereunder at the time of any transter oi the propecty shall K•ithout acsi~;nment thereoi inure to the benefit of the successor owner of the property and shall be applied under and subject to all of the provisians hereot. Upen the payment in tuil of the indebtedness, the amount ot any unused credit shall be applied to the pa}•ment thereot. ~ The ~tortgagee ma~• collect a"late charge" not to exceed [~~ur cent~ ~~ci fur each one dollar (51.00? uf each monthly installment payment re:~uir~d on thr nute and under this Aiortgage w•hich is m~~re than fi[teen (15) days in arrears, to cover the extra expense ~m•ol~•ed ~n handlin~; delinquent yayments. 2. To pay, w•hen payabte, all tax~~s and :tssessmcnts. Kene~ral ur sF~ecial, w•ater rents and ground rents and all other charges whatsoe~~er le~-ied upun ur assessed or plared against thc premises, iuo~•ision tor which has not been made here- inbefore, and K~ill prompth~ dcli~•er the o(ficial rc~cc•i,~ts therefur to the ~lor[gagee; to likewsse pay all taxes, assessments and other chnrges, le~~ied~upon or asse.:c~. placeci ar made a~;a~nst thtis instrument, or the indebtedness or any interest of the Aiortgagee in the pren:ises or the ubligatiuns s~~cured hrreb~•, pro~•idc~l that the payment ot eny such tax 8ssess- ment or charge by the ~i~~rtgagor is not c~~ntran• to !aw• or would not r~sult in the pavment ot an unlawful rate of inter- est on the indebtedness hereby secured. In the ~~.ent ot the pastiage atter the date ot this instrument of any law of the State. or subdi~•ision ther~o[, w•herein the {~r~•mises are situatecl, cre~ting or pro~~iding for an~• tax, assessment or charge which by the above pro~•iso is not to be I~aid b~• the ~Sortgagor, the indPbtedness secured hereby together with interest due thereon, shall, at the option of the ~I~rtgagee, hecomc~ immediately due and payable, and in the e~•ent payment there- of is not made forthwith, the ~tortgagee ma~~ tak~ ur cause to fic~ taken such a~tion or proceeding as may be taken here- I under in the caae ot any other de[auit in the payment of the indebtedness. ; 3. To keep the buildings and additions thereto on ur hereafter erected or placed upon the :and insured against loss by fire and such other hazards, casuaities and continRertcies, including v~-ar damages if at any time a state ot war exists or ~ it appears to the holder ot the note ihat war is imminent, and in such amounts and for such periods, as may be reyuired ~ fmm time to time by the ~tortgagee, and tn pay promptly when due all premiums on such insurance, pro~•ision [or pay- ! ment of which has not been made hereinbeft~m. The policies of insurance shall ha~•e loss payable pro~•isions acceptable to f the ~Iortgagee and shall be deti~•ered to and Aeld by the :4fortgagee, or as [t may direct, until this Mortgage fs satisfied. Renewai policies of insurance, premiums for K•hich ha~~e been [utly paid, are to be furnished to the bfortgagee at least ~ 8fteen days prior to the expiration date ot the insurance thereby renex•e<l. The insurance ahall be written in compantes ~ appmeed by the ~lortgagee; in no e~~ent shall the :~tortgagee be heid responsible for failure to pay for any insurance ~ written or tor an}- luss or damap,e growing out ot a defect in any policy or grow ing out of any failure ot any insurance € company to pay [or any loss or damage insured against. In the e~ent ot less the Diortgagor shall gi~•e immediate notice ~ by mail to the btortgagee ~•ho may make proot uf loss i[ not made promptly by the rtortgagor; each insurance company cuncerned is hereby authorized and directed to make payment for l~s~ directly to the biortgagee instead of to the Mort- gagor and the I?tortgagee jointiy; the insurance proceeds, or any part thereof, may be_applied by the Mortgagee, at iis option, to the expenses, it any, incurred by it in the collection thereof, to the reduction of the Indebtedness hereby se- cured, to the restoration or rcpair of the prormrt~ dama~ed, or released to the biortgagor without liability upon the ~iort- gagee for such release. All policies ot insurance are hereby assigned to the :~tortgagee as additional securlty for the pay- ment ot the sums and interest secumd hereby; in the e~•ent ot foreclosure o[ this ~tortgage or other transter of tiUo to the premises in extingu[shment of the indebtedness, all right, title and interest ot the bTortgagor in and to any insurance ~ policies then in torce shall pass to the Qurchaser or grantee. ~ ~ 9. To complete within a reasonable time any buitding or buildings nuw• or at any time in the process of erection upon tbe land and to promptly repair, restore or re6uild any building or improvements now or hereafter on the land which ~ may become damaged or be destroyed, and not commit or permit to be done or exist on or about the premises anything ~ whereby the premises shall become less valuable; to comply with atl laws, rules, regulations, or ordinances ot any govern- ~ mentgl agency and not violate or permit the ~-iolation as to the premis~~s of any building or use restricUons; to keep the t land and improvements thereon free from mechanic's and materialmen's iiens and will not suffer any lien superior to the lien crnated by this Irtstrument to attach tn or be enforced against the prnmises 5. If detautt be made in the pa~•ment of taxes, assessments, liens, claims, insurance premiums or any other charge ~ wha~scever, or any part thereof, or in the perlormance o[ any act, to be paid or pertormed by the Mortgagor under the ~ provWons hereot, the Mortgagee may, at its option, make payment thereot or peKorm any act requlred oL the biortgagor ~ In any form or manner deemed expedient and pay any other sum that is necessary to pratect the seeurity ot thls Instru- t~ ment; the amounta so paid, with Interest thereo~ from the date ot such paymcnt at the same rate as borne by the prln- ~ clpal indebtedness, shall be assessed as an addiUonal lien on the premises and shall be added to and become a part of the ~ fndebtedness secured hereby and be immediately due and payable to the Mort a ee. M g g y payment hereby authorized to be made by the Mortgagee may be made according to any bW, statement or estimate furnlshed or procured from the appro- ~ prlate public otfice or the party claiming payment without inquiry into the accuracy or ~•alldity thereot, and the receipt oi any public oflicer or party in the hands of the Mortgagee shnll be conclusi~•e evidence of the validity and amount ot Itemi ~ w patd: the Mortgagee shall, at lts option, be subrogated to any encumbrance, llen, dalm or demund, and to all the rlghts and securities [or the payment thereof, paid or discharged with the pnnclpal surn aecured hereby or by the Mortangee ~ under tAe pmvWons hereof, and any such subrogetlon rlghts shall be additionel and cumulatlve iecurlty to Ws Mort- ~ gsge. - ~ ~ R ~0~ ~~f 9?2 $coK203 ~1~1~ b00K ~ z~: ~ ~ ~ ~ , ~ ~ ~ ~ ~