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HomeMy WebLinkAbout0833 ot the blortgagee become imn~ediately due and payable, wtthout notice, and proceediug~ mby be instituled by the Mott- gagee for the recovery thereof by foreclosure of this Mortgage, or in any other manner permilted by law as the rlort- gagee may elect. a~~ytNng 1n the note or in this Diortgage contained to the contrary themto notwlthstandtng. Upon fore- closurn ot this Mortgage, the Mortgagee shall be aUowed as a part ot the indebtedness secured ??ereby, atzd the rlort- gagor agrees to pay, elt casts and expenses incurred in consiection therewith, including rnusonable attorney's fees, cost o1 title and tax search and tRe extens3on to date of an abstract of t[tle or title poltcy; and in case such Loreelosure proceed- ings are settled betore the consummation thereot or the entry ot judgment, any such costs and expenses and other charges so incurred, induding a masonable attorney'a fee, shall nevertheless be paid. The Dtortgagee or any party in in- terest, being the highest bidder. may be a purchaser at any forerlosure snle. Any election by the'Hortgagee as herein pro- vided tor may be exercised Immediately upon defeult, or at any tlme thereatter, and nuthing shall be construed to be a waiver ot such r3ght uniess evidenced by ai~ lnstrument in v~riting to that efiect duly executed by the Mortgagee. The ~tortgagor wni~•es all r3ght of homestead and exemption granted by the Constitution and Laws of Florlda. AhD THE DiOR'1'CAGOR FURTHER COIVVENAiVT'S AND AGREES: 1. To pay the principal Indebteclness w~ith interest as in the note pro~•ided. To puy monthly unto the Diortgagee, in addition to and at the time and place for each payment ot principal and irit~rest, an insteliment ot each of the tollovv- ing charges: ta) Taxes and assESSments, general or special, e~nd ell other charges le~~ied or to be le~•ied against the ptemises. . (b) Premiums to become due and pa.yable for, and to renew, the insurance on the premises against loss by flre and such other ha~ards, ceisualties and contingencies as hernin pro~•ided for ar rn<;uired from time to time. The amount of the respective monthly instailments shall be equai to the amount ot the annual respective charge next due (as estimated by the Mortgagee), less all installments already paid theretor, di~•ided by the number ot monthly in- stallments therefor becoming due not later than one month prlor to the due date ot any such charge and shall be sub- ject to tncrease or decrnase to the extent requfred to create as uf a monthly payment date on the note not less than one month prior to the due date oi any such charge, an amount su[ticient for the payment thereot when due and payable. In no e~-ent shall the Mortgagee receiving such payment be liable for any interest on any amount pald to it as herein required, and the money so rccei~•ed may be held wtth its own funds pending payment or application theteot as herein provided. The Mortgagor shall furnish unto tt~e Diortgagee at least Btteen days betore the due date an official statement oi the amount of any taxes or assessments next due, and such Mortgagee shell pay the abo~~e charges to the amount oi the then unused credit therefor a~ and w•hen they become severally due and payaLle. The ~tortgagee may, at its option, pay any oi such charges w•hen payable, either betore or after they are delinquent, vrithout notice, or make advances theretor in excess ot the then amount ot credit for safd charges. The excess amount advanced shail be immediately due a.id payable to the 1lortgaKee and shali be secured ns an additional principal sum under this instrument and bear the same rate o[ interest trom date of ad~•ancement as the principal Indebtednest. An ofticial receipt therefor shall be conclusive evidence ot such ~~ayment and of the ~-atidity oi such charges. The Aiortgagee may apply credits held by it for the abo~•e charges, or an~ part themof, on account of any delim~uent installtnents ot principal or interest or any other payments matucing ur due under tt~is instrucnent and the amount ot credit existing at any time shali be reduced by the amount thereof ~aid or applicd as hrrein proviaed. The amount of the existing credit hereunder at the time of any transfer of the propecty shall without asciknment thereof inure to the benefit of the successor owner of the property and shali be applied under and subject to all ot the pro~•i~ions hereot. Upon the Na3•ment in tull of the indebtedness, the amount of any unused credit shall be applicd to the payment thereof. The riortgagee m~~• culieci a":ate rharkr" not to excec~ f~~ur cents ~4c? ior each an~• dollar (E1.Q01 of each monthly lnstallment payment requircd ~~n tLc• note and under this hlort~a~e which is t:~~~re than fiiteen (15t days in arrears, to cover the extra expencc ,ncuh•ed in hand:in~; delinquent paym~~nis. 2. To pay. Khen payable, a:i tux~•s and a~.rssmenis, Reneral ur ~pccial, ~cater rents and g.-ound rents and all other charges whatsce~'er le~•ied upon or : c,esccd cr ~,iared against Uie premisc~s, pro~•ision for which has not been made here- inbefoce, and will prempt~~~ delircr the ofiiciaf re~eif~ts themfvr to tne tii~~rt~;agee; to likewise pay all taxes, assessments and other charges, levied upon or :tsses~rd, {~laced or made at;ainst this instrument, or the indebtedness or any interest oi the Mortgagee in the prem"t.ses or the ublikafiuns s~curcd h.•reby, pro~ided that the pay~ment of any such tax 8ssesS- ment or charge by the ~lortgagor is nut c~~ntrat~• to law or ~•ould not result in the pavment oi an unlawful rate of inter- est on the indebtednes~ her~~by securecl. In thc• c•~ent of the pas~age after the ~iate of this instrument of any law of the State, or subdirision thereof, w•herein th~ {~re enises are situatcd, creating or pro~•iding for any tax, assessmeni or charge which by the above prociso is not to be paid by- the ~tortgagor, the ind~btedneas secured hereb~~ together with interest due ' thereon, shall, at 1he option of thc ~lorty;aFee, bec~~me immediately due and pa}•able, and in the event payment there- ~j of is not made forthwith, the :~iortga~;ee ma~ take ur cause to bc taken such actiun or proceeding as may be taken here- E under in the case of any othec defauit in the pa}•ment oi the indebtednrss. ~ 3. To keep the buildings and additiotts ihereto ~,n or hereafter erected ur placed u{.on the land insured against loss ~ by tire and such other hazards, casuaitirs an~i rontingertcies, including w•ar damages if at any tirne a state of war exists or i it appears to the hclder of the note that war is imminenf, and in such amour.ts and tor such periods, as may be required ~ irom time to time bp the 1Sortgagee, and to pa}' prompUy whF~n due all premiums on such insurance, provision tor pay- ~ ment of which has nut been made hereinbet<ur. The policics of insurance shali ha~~e toss payable pro~~isions acceptable to the ~tortgagee and shall be deli~•ered t~ and heid by the Dtortgagee, or as it map direct, until this Dtortgage is satisfied. Renewal policies ot insurance, premiums for which ha~•e been tully paid, are to be furnished to the Mortgagee at least Siteen days prior to the expiration date oi the insurance thereby renev~ed. The insurance shall be written in companies appro~~ed by the tito~tgagee; in no e~~ent shall the ':lforigagee be held responsible for failure to pay for any insurance written or for any luss or dama~e growing out of a defect in any policy or growing out ot any failure of any insurance ~ company to pay [or any loss or damage insured a~ainst. In th~~ e~•ent ot loss the hiortgagor sha11 give immediate notice by mail to the Dlortgagee who ma}• make proof of loss it not made prompUy by the tiiortgagor; each insurance company concerned is hereby authorized and directed to make payment for loss directiy to the Aiortgagee instead oi to the biort- gagor and the Mortgagee joinily; ihe insurance proceeds, or any part thereot, may be applied by the D3ortgagee, at its option, to the expenses, i[ any~, incurred b3~ it in the collection thereof, to the reduciion of the indebtedness hereby se- rured, to the restoration or repair of the propert~• damaged, or released to the Mortgagor without liability upon the blort- gagee for such release. All policies of insurance are hereby~assigned to the lfortgagee as additional securtty for the pay- ment of the sums and interest secumd hereby; in the event of foreclosure ot this Mortgage or other transter of title to the premises in extinguishment of the indebtedness, ail right, tltle and interest ot the hiortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. - 9. To complete within a reasonable time any building or buildings noa• or at any time in the process of erection upon the land and to promptly repair, reslore or rebuild any building or improvements now or hereafter on the land wMch ~ may become damaged or be destroyed, and not comrrilt or permit to be done or exist on or about the premises anything whereby the premises shall become less ~•aluable; to comply wich ail laws, rules, mgulations, or ordinances of any govern- mental_ agency and not violate or permit the violation as to the premises of any building or use restricUons; to keep the land and improvements thereon free trom mechanic's and materialmen's liens and will not sufter any lien superior to the ~ lien created by this instrument to attach to or be enforced against the premises. 5_ I[ detault be made in the payment ot taxes, assessments, liens, claims, insurance premiums or any other charge whatsocver, or any part thereof, or in the periormance ot any act, to be paid or pertormed by the Mortgagor under the provWons hereot, the Mortgagee may, at its option, make payment thereoi or peKorm any act requtred of Lhe biortgagor ~ in aoy form or mannec deemed expedient and pay any other sum that is necessary to protect the secudty oi this lnstru- ~ ment; the amounts so paid, w~ith 3nterest thereon from the date ot such payment at the same rate as borne by the prin- clpal tndebtedness, shall be assessed as an additional lien on the premises and shall be added to and become e pert of the ~ indebtedness secured hereby and be immediately due and payable to the :?tortgagee. My payment hereby authorized to be ~ made by the Mongagee may be made according Lo any bW, statement or estimate turnLshed or procured trom the appro- prlate public o~ce or the party claiming payment without inquiry into the accurary or validltp thereof, and the receipt of any public officer or party in the hands of the Mortgagee shall be conclusi~•e evidence of the validity snd amount of items ~o paid; the Mortgagee shall, at Its option, be submgated to any encumbrance, lten, claim or demand, and to all the rlghts ~ and aecurlUes for the payment thereof, pald or discherged wlth the principal sum secured hereby or by the biortgagee ~ under tAe provWons bereof, and any such subrogation rights shall be addltlonal and cumulative tecudFy+ to this Mort- gage. ~ ? c~p Q~ DUOI( ~VO P~4CE c~W ~ ~ ~r; ~ ; ~ : ~ ~ ~ ~z-~;.~~~ ~ : a~. ~ ~V . ~ . ~ - - ,._~.~,-~°~f~~ ~ - - ,