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HomeMy WebLinkAbout2647 . w. . . :~.1' . ~ ~ ~ . . , o[ tAe bfortgagee become immediately due and payable. without notice, and proceedings may be instlluted by the Mort- gagee for the recovery thereot by foreclosure of this Mortgrge, or 1n any other manner permitied by law es thz Mort- gagee may etect, anything in the note or in thb Mortgage contalned to the contrary themto notwithstandtng. Upon tore• closure ot this Mortgage, the Mortgagee shall be ullowed ss a pttrt of the indebtedness secured hereby, and the Diori- gngor agrees to pay, all costs end expenses incurred in oonnectlon therewtth, lncluding reasoneble attorney's fees, cost ot titte nnd tax seanh and the extension to date ot un abstract ot title or tltle poltcy;' and in case such toreclosure proceed- ings erP settled betore the consummation thereoi or t1:e entry oi judgment, any such cosLs and expenses and other charges w incurred, including a reasonable attorney's fee, shall nevertheless be paid. The Alortgagee pr any pacty in in- terest, being the highest bidder, may be a purchaser at sny foreclosurn sF?le. Any election by the Mortgagee as herein pro- vided tor may be exerctsed lmmediately upon detault. or st any time thereafter, and nothing shall be construed to be s waiver ot such right unless evidenced by an instrument in writing to that eftect duly executed by the Mortgagee_ The Mortgagor waives all right of homestead aad exemption gcante~ by the Constitution and Laws ol Florida. AND THE biORTGAGOR FURTHER CONVENANTS AND AGREES: 1. To pay the principal indebtedness with interest as in the note provided. To pay monthly unto the Mortgagee, in addilion to and at the time and place tor each payment ot principal and i~~terest, an installment of each of the foltow- ing charges: (a) Ta~ces and ass~ssments, general or speclal, and ali other charges le~~ied or to be levied against the premises. lb) Premiums to become due and payabte for, and to renew, the insurance on the prnmises against loss by flre and such other ha~ards, casualties and contingencies as here[n pro~~ided tor or reyuired Irom Ume to time. The amount ot the respectiv~ monthly installments shall be ec~ual to the amount of the annual respective cherge nest due (as estimated by the Mortgagee), less all installments already paid theretor, di~ided by the number ot monthly in- atallments therefor becomin8 due not later than one month prlor to the due date of any such charge and shall be sub- ject to increase or decrease to the extent required to create as of a monthiy payment date on the note notless than one month prior to the due date of any such charge, an amount suHicient for the payment thereof when due and payable. In no e~•ent shall the :~iortgagee recei~•ing such payment be liable for any interest on any amount paid to it as herein required, and the money so mcei~•ed may be held with i:s own funds pending payment or application thereof as herein provided. The Mortgagor sF?all turnish unto the Diortgagee at least Stteen days before the due date an oHicial statement oi the amount of any tuxes oc asse~rnenis next due, and such blortgagee shall pay the abo~ e charges to the amount ot the then unused credit therefor as and w•hen they become severally due and payable. The Diortgagee may. at its option, pay any of such charges v?•hen paya6le, either before or aiter they are delinquent, without notlce, or make advances themfor in excess of the then amount of credit for said charges. The excess amount advanced shall be immedlately due a,~d payable to the lfortga~ee and shali be secured as an additional principal sum under this Instrument and bear the same rate o[ interest fmm date of adeancement as the principal indebtedness. An oHicial receipt therefor shall be conclusive evidence of such ~~ayment and of the ~•atidity ot such charges. The Diortgagee may apply credits held by it for the abo~e charges, or any part thereot, on account ot any del(nquent installments of principal or lntecest or any other payments ~ maturing or due under this instrument and the amount of credit existing at any time shal! be reduced by the amount thereof paid or applied as hrrcin provided. The amount of the existing credtt hereunder at the time of any trnnster ot the property shall Kithout assiknment thereof inure to the benefit of the successor owner of the property and sha]1 be applied under and subject to ull ot the pro~•i;ions hereof. Upon the payment in full ot the indzbtedness, the amount of any unused credit shall be applied to the ~~a.•mcnt thereof. The Morlgagee ma~• colleci a~'late char~;~" not Lo exceed fuur cent. !4c~ tuY .~ach one doilar (S1.0(1) ot each monthly tnstallment payment rM~uirc•d un the :iote and under this Diortga~e which i~ r.u>re than fifteen (151 days in arrears, to cover the extra expensc ~m~olced in handlin~; dciinquent payrn~nts. 2. To pay, vvhen payable, a31 tax~•s and aarssmcnts, Rene~ral ur s~xrial, N~ater rents and ground rents and all other charges whatsce~•er le~•ied upon ur ~ stic•ssed or Nlaced a~ainsc the premises, pro~•ision f~r which has not been made here- inbe[ore, and will premptl~~ deli~rr tne offici:il receipts theret~~r to the M~>rtgagee; to likewise pay all taxes, assessments and other charges, levied upon or assessed. placed or made a~:ainst tRis instrument, or the indebtedness or any Interest oi the Mortgagee in the premeses or the ubli~;at:ons secured hrrcby, pro~~ided that the payment ot any suCh tax assess- F ment or charge by the ~Iortga~;ur i; not c~~ntra»~ to law or wouid not result in the pavment of an unlawful rate of inter- t ' est on the indebtedne~ henby securt~cf. In the ,•~~nt ot the passage at.er the date of this instrument of any lav~ of the State, or subdi~~ision thereof, K~herein thc~ ~~r~mises are situated, creating or pro~~iding for any lax, assessment or charge ; which by the above pro~•iso is not to b~ paid b~- the ~iortgagor, the indebtedness secured hereby together wtth interest due thereon, shall, at the option of ihc ~IorigciFee, t>ecomc immediately due and payatle, and in the event pa~~nent there- ; oi is not made forthwith, the ~tortgage~• ma~• tak~ ur cause to be taken such action or proceeding as may be taken here- ~ under in the case of an~• other detault in the pa~-ment of the indebtedness_ j • f 3. To keep the buildings and additii~ns theretu on or hereafter erected or placed upon the land insured against loss ~ ~ by tim and such oiher hazard.~, casualties an~i cuntingertcies, including war damages if at any time a state of -war exists or ` { it appears to the hclder of the note that w•ar is imminent, and in such amounts and for such petiods, as may be requlred ~ from time to time by the ;iurtgagee: ~.nd t~ pay promptly wh~n due all prerniums on such insurance, pmvIsion for pay- ment of K•hich has nut bern made hereinbef~u-e. The policies of insurance shall ha~•e loss payable pto~•isions acceptable to ' ~ the ~iortgagee and shall be deli~•ered to and held by the btortgagee, or as it may direct, until this Mortgage is satisiied. r ~ ~tenewal policies of insurance, premiums for which hace been tully paid, are to be furnished to the Mortgagee at least Sfteen deys prior to the expiration date of the insurance thereby renewed. The tnsurance shall be wrltten in companies R approved by the ~iortgagee: in no e~•ent shall the biurtgagee be held responsible for failure to pay for any insurance ~ written or for any los; or damage grow ing out of a defect in any policy or growing out oi any fallure of any insurance ~ company to pa}• for any loss or damage insured again~t. In the e~~ent of loss the ~fortgagor sheil gi~•e immediate notice by mail to the Mortgagee who may make proof of loss if not made promptly by the ltortgagor; each insurance company concerned is hereby authorized and directed to make payment for loss directly to the ~Iortgagee lnstead of to the Diort- gagor and the Mortgagee jointly; the insurance proceeds, or any part thereof, may be applied by the Mortgagee, at its option, to the expenses, it any, incurred by it in the collection thereot, to the redvction ot the indebtedness hereby se- ^ured, to the restoration or repair of the property damaged, or released to the Diortgagor without liabillty upon the Mort- gagee for such release. Alt policies of insurance are hereby assigned to the Dlortgagee as additional security for the pay- ~ ment of the sums and interest secured hereby; in the e~~ent of foreclosure ot this Mortgage or cther transter o! titlo to the * ~ premLces in extinguishment of the indebtedness, all right, title and interest of the Mortgagor in and to any it~surance policles then in force shall pass to the purchaser or grantee_ 4. To complete within a reasonable time any building orbuildings noa• or at any time in the process of erectlon upon ~ t6e land and to promptly repair, restore or rebuild any building or improvements now or hereafter on the land which ~ may become damaged or be destroyed, and not commit or pecmit to be done or exist on or about the premises anything whereby the premises shall become less ~•aluable; to comply with all laws, tules, regulations. or ordinances oL 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 from me~hanic's and materialmen's liens and will not suf[er any lien superlor to the - lien created by this instrument to attach to or be enforced egainst the premises. ~ 5. I[ detault ~e made in the payment ot taxes, assessments, liens, ctaims, insurance premiums or any other charge ~ what,wever. or any part thereof, or in the pertormance of any act, to be paid or performed by the 2viortgagor under the ~ provWons hereof, the Mortgagee may, at iLs opiion, make payment thereof or perform any act requfn~d of the 1?tortgagor ~ !n any form or manner deemed expedient and pay any other sum that is necessary to protect the securlty of this lnstru- ~ ment; the amounts so paid, wlth Interest thernon from the date ot such payment at the same rate as borne by the prin- ~ cipel tndebtedness, shall be asses~ed as an additlonal lien on the premises and shall be added to and become a pert of the = indebtedness secured hereby and be immedlately due and payable to the biortgagee. Any payment hereby authorised to be ~ made by the Mortgagee may be made according to any bW, statement or estimate furntshed or procured fmm the appro- F~ prlate public ogice or the party claiming payment without lnquiry into the accuracy or valldity thereof, and the reeeipt of ~ any public ~~cer or party in the hands of the Mortgagee shall be conclusi~•e evidence ot the validity and amount ot item~ ~ ~o d: the Mortgagee shall, et fts o tlon, be suDr pat p ogated to any encumbrance, llen, claim or demand, and to all the rtghts ~ and securitles for the payment thereot, paid or diacharged with the principal sum secured hereby or by the Mort~a~ee ~ under tAe provislons hereof, and any such aubmgaUon rights shall be addttional nnd cumulative ~ecurlly to tbls Mort- ~ B~Be. ~ 6~~8 1~6t~rV~ ~p ~ • x - i -~/1:/~.1 d00K ~.VO ~tGE ~ ~ ~ . ~ - ~ - , T - ~ ~ ~ ~ ~