Loading...
HomeMy WebLinkAbout0240 ot the blortgagee become immediately due and payable, without notice, and procec~iugs muy be insUtuted by the Mort- gagee for the recovery tnereof by foreclosure of thts Mortgsge, or in any ~ther manner permitted by lew as the Aiort- gagee may elect. anylNng tn the note or in thls Mortgage contained to the contrary thereto notwithstanding. Upo~ fore- closure of this Mortgage, the Mortgagee shall be allowed as a part of the indebtedness secured hereby. and the Mort- gagor agrees to pay. all costs and expenses incurred in connection tnerewtth, including reasonable attorney'~ tees, cost oi utle and tax search and the extension to date ot an abstractot title or title policy; and [n case such toreclosure proc~ed- ing~ are settled betore the consummation thereot or the entry o[ jud~ment, any such costs and expenses and other charges so incurred, including a reasonable attorney's tee, shalt ne~ertlielesi be patd. The Mortgagee or any party in in- terest, being the hlgheat Didder. may be a purchaser at any foreclusure sale. Any election by the Mortgagee es heretn pro- ~~ided for msy De exer0ised immediately upon detault, or at any time thereafter, and nothing shall be construed to be s waiver of such cight unless evidenced by ar? Instrument ln wrlting to that egect duly executed by the Mortgagee. The Diortgagor waives all right of homestead and exemption granted by the Constitution and Laws ot Florida. AND THE MORTGAGOR FURTHER CONVENANTS AND AGRF.FS: l. To pay the principal Indebtedness wlth interest as 1n the note pro~•ided. To pay monthly unto the Mortgagee, in additton to and et the time and place tor each payment o[ principal snd inLerest, an lnstallment of each of the follow- ing charges: (sl Taxes and ascessments, general or specfal, and all other charges le~•ied or to be le~•ied against the premises. (b) Premiums to bernme due snd payable for, and to renew, the in~~~rance on the premises against loss by 8re and such other hazac~ds, ca~sualties and contingeneles as hereln pro~•ided tor or required trom time to time. The amount of the mspectlve monthly installments shall be equal to the amount of the annuel respecUve charge next due (as esttmated by the Mortgagee), less all installments already paid therefor, divided by the number of montt?ly in- atallments therefor becoming due not later than one month prlor to the due dete oi any such charge and shall be sub- ject to increase or decreaae to the extent required to create as ot a monthly payment date on the note not less thea one month prior to the due date of nny sucl? charge, an amount sutticlent tor the payment thereof when due and payable. In no event shall the Morigagee receiving such payment.Qe liable Sor any interest on any amount pald to it as herein required, and the money so recei~ed may be held with Its own funds pending payment or apalication thereof as herein provided. The Mortgagor shall Lurnish unto the Diortgagee at least Stteen days betore the due date an oHicial statement of the amount oi any taxes or as~essments next due, and such Mortgagee shall pay the abo~•e charges to the amount of the then unused credit themfor as and when they become severally due and payabie. The Diortgagee may, at its option, ~r pay any~oi such charges N•hen payable, either befom or atter they are del(nquent, without notice, or make advances thPrnfor in excess of the then amount ot credit for said charges. The excess amount advanced shall be immediately due a.:1 payable to the !?tortgngee and shall be secured as an additional principal sum under this instrument and bear the same rate of interest from date of ad~•ancement as t2~e principal indebtedness. An oHic[al receipt therefor shall be conclusive evidence of such ~~ayment and o[ the validity of such charges- The Mortgagee may apply credits held by it tor the above charges, or any part thereot, on account oi any deltnquent installments ot princlpal or lnterest or any other payments maturing or due under this instniment and the ameunt o[ credit existing at any time shall be reduced by the amount theceot paid or applicd as herein pro~ided. The amount et the existing credit hereunder at the time of any trans[er ot the pmperty shall without a~iRnment thereot inure to the benefit of the successor owner ot the property and shall be applied under and subject to all o[ the pro~•isions hereot. C+?~on thc• Nayment in tull of ihe indebtedness, the amount of any unused credit shall be applied to the pa.•ment thereot. The Mortgagee ma}• collc~ct a"late charkc" not to exceed (~~ur c~nts (~c~ tor rarh one dullar (E1.00) of each monthly installment payment re~gu~rcd un thc~ note and under this ltort~age ~+•hich is mor•~ than fitteen (15? days in arreais, to co~er the extra expensc ,n~•ohe•d ~r. handlink delinquent paymentc. 2. To pay, when payable, all taxrs and a,sessnicnts, gcn~ral ur sperial. k•ater rrnts and ground rents and all other eharges whatsoe~'er lecied upon or acsessecf or placed against tlie premises, pro~•isiun for which has not been made here- inbefore, and trill promptl~• delicer the offici:il rerei{~ts therefur tu the btortgagee; to likew'~se pay all taxes, assessments end otner chaiges, levied upon or assesced. plamd or made akainst this instrument, or the indebtedness or any interest ot Ne Mortgagee in the premises or the ahligatinns s!•curcd h~~reb}-, pro~•ided that the payment of any such tax as5ess- - ment or charge by the ~Iurtga~;or is n~~t r.~ntrar.- to law or w•ould not result in the pavment of an unlawful rate of inter- est on the indebtedness hereby secur~~d. In the c~ent of the p:~.s,age atter the date ot this instrument oi any law of the State, or subdi~ision thereof, w•herein the prernises are situated, treating or providmg for any tax, assessment or charge which by the above proeiso is not to be paid bc the tifortgagor, the indPbtedness secured hereby together with interest due Nereon, shall, at the option of the ~Iortgager, becui~ie immediately~ due and payable, and in the e~•ent payment there- of 1s not made forthwith, the l~tort~;ake~ ma}- tak~ or cause t.; be taken such action or proceeding as may be taken here- under in the case of any other defauit :n the pa~-ment uf the indebtedness. , i 3. T~ ::°ep the buildi~gs and additiort thereto on or hereafter erected or placed upon the land insured against loss by tire and such other hazards, casualties and c~~ntin;;ertcies, including u•ar damages it at any time a state ot war esists or ~ it appears to the holder ot the note that w•ar i~ imn~inent, and in such amounis and tor such periods, as may be required ~ from time to time by the ~fortqagee, and to pay prompUy wh~•n due ail premiums on such insurance, provision tor pay- ; ment of which has not been made hereinbefure. The policies ut insurance shall have loss payable provisions acceptable to ; ihe ASortgagee and shali be deli~-ered to and held by the ~tortgagee, or as it may direct, until this 111ortgage is satistied. ~ Renewal policies of insurance, premiums for w•hich ha~~e been fully paid, are to be furnished to the biortgagee at least 8iteen days prior to the expiration date of the insurance thereby renewed. The insurance shall be written in companies K appro~ed by the :~Iortgagee; in no eti~ent shall the :~Iurtgagee be held responsible for fai[ure to pay for any insurance z written or tor any luss or damage gro~ing out of u detect in any ~~olicy or growing out ot any tailure of any insurance ~ company to pay for any luss or damage insure~: against. In thc e~•ent ot loss the biortgagor shall gi~~e immediate notice by mail to the biortgagee ~a•ho may make proof of loas if not made promptiy hy the :~iortgagor; each insurance company ~ concerned is hereby authorized and directed to make payment for ioss direcily to the Aiortgagee instead of to the Mort- ~ gagor and the Diortgagee jointly; the insurance proceeds, or any part thereof, may be applied b}• the ~iortgagee, et its option, to the expenses, it any, incurred by it in the collection thereof, t~ the reduction of the indebtedness hereby se- r.ured. to the restoration or repair ~f the pro~~ert}• damaged, or reteased to the 1lortgagor without liabiiity upon the 111ort- ~ gagee for such release. All policies ot insurance are hereby as.cigned to the blortgagee as additional security for the pay- ~ ment of the sums and interest secured hereby-; in the e~•ent of foreclosure of this tiiortgage or other transfer of titlo to the ~ premises in extinguishment ot the indebtedna~, all right, title and interest of the Atortgagor in and to any inaucance ~ policies then in force shall pass to the pumhaser or grantee. ~ 4. To complete within a reasonable time any buildin~ or huildings now or at any time in the process ot erectlon upon ~ the land and to promptly repair, restore or rebuild an}• building or improvements nok• or hereatter on the land which ~ may become dan-.aged or be destroyed, and not commit or permit to be done or exist on or aboui the premises anything ~ whereby the premises shall become less ~•aluable; to comply w•ith all law•s, rules, rnFulattons. or ordlnances of any govern- ; mental agency and not violate or permit the violation ~ts to the premises of any huilding ~r use restrictions; to keep the ~ land and improvements thereon free from mechanic's and materialmen's liens and w~ill not suff~r any lien superior to the ~ lien created by this Irtstrument to attach to ~r be cntorced against the premises. S_ I[ deiault be made in the payment ot taxes, assessmenis, liens, claims, insuranee premiums or any other charge whaLSOever,' or any part thereof, or in the periormance ot any act, to be pafd or performed by ihe Mortgagor under the provisions hereot, t1~e Mortgagee may, at its option, make payment thereof or perform any act required ot the Mor~gagor ~ in any form or manner deemed expedient and pay any other sum that is necessary to protect the security of this instn~- ment; the amounts so paid, with interest thereon from the date of such paymE nt at the same rate es borne by the prin- ~ cipal Indebtedness, shall be ascessed as an additional lien on the prnmises and shall be added to and become a part of the fndebtedness secured hereby and be immediately due and payable to the Ttoctgaqee. Any payment hereby authorized to be ;y made by the Mortgagee may be made according to any bW, statement or estimate furnlshed or procured irom the appro- s:; prfate public oKice or the party claimjng payznent without inquiry into the accuracy or ~•alidlty thereot, and the receipt oi eny public officer or party in the hands of the Mortgagee shall be conclusi~•e e~ idence of the validity and amount of items ° so pafd: the ~tortgagee shall, at its option, be subrogated to any encumbrance, Ilen, claim or demand, and to a11 the rlghts and securltles for the payment thereot, pnSd or discharged wlth the principal sum secured hereby or by tRe Mortgagee under tlte provWons hereot, and any such aubrogatlon rights shall De addltional nnd cumulattve security to thfa Mort• ~ gage. ~ ° R z1fl PacE 24~ ~ooK 2f ~ ~F ~ ~ ' q i ~ ~t_a's~s,,.Ys~+-.'~.a^tC~~`a.~~~&°'~ ~'N.~'r'.~4~_.~ . _ _ s-.~ >;=ai"t£'~