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HomeMy WebLinkAbout0628 ot the I~iortgagee Eecome lmmediately due and payable. wltAout notice, and p~viceed'eu~s may De tnsUtuted by tl~e ~iort- gagee tor the recovery t!?ereot b~ forecloaure ot thts Mort~age, or in uny other mnnner permitted by law as che I?iort- gagee may elect. anytNag ta the note or in thls Mortgs~e cor.Wned to thE contrary thernio notwithsta:.ding. Upon lore- closure o[ this Mortgage, tAe Mortga~ee ahall be allowed as a part oi ihe indebtedresE secured hereby. end the Mort- Q~g~r ~g~s ~o pa~,~ all casts as~d expenses Incurred in connectlon therewith. including masonsble ettorney'g tees, cost ot title and tax search and the extension to dste ot ar? abstcact ot title or tiUe pollcy: nnd in case such forecl.uur'e proceed- jngs are settled betore the consummation thereoi or the >ntry et iudgme~t, any such cvsts end expenses and other charges so incurred. lneluding s reesot?able attorney'a tee. shall neve~ lDele~ be patd. The Diorlgagee or any party tn In- teres~ being the higheat bidder. may be s purchaser at any toreclosi+re sale. Any election by the Mortgagee 4a !?erein pro- vided tor may be exer..ised immediately upo~ detault. os at any time thercaiter, and nothing shail be' construed to be s waiver ot such right unles4 evldenced by an instrument in writing to that eftFCt dulp executed by the Mortgagee. The - Mortgagor waives all dgt?t oi homestead sad exempttoa grsnted by the Constitution and I.aws o! Flortda. AND THE MOli'PGAGOR b'URTHEA CONVE.'~TAI~'TS AND AG2tEFS: - l. To pay the principal indebtedness with interest as ia the note provlded. To pay monthly unto the Murtgagee, • ~ 1n additi~n to and at the time and place for each paYment of principal and interest, an tnstnllment of each ot the follow- ing cht?rges: (a) Taxes and assessmeats. general or special, and all other charges le~•ied or to be leeied ngainst the premises. tb) Premiums to become due and payable tor, and to renea, the insucance on the premises against loss by Bre and such other t~azards. a~sualties and contingencles as he[ein prn~ided for or required fmm time to Wne. The amount of the respecUve montt~ly tnstallments shall be equal to the amount ot the annual respective charge next due las estimated by the Mortgagee). less all instaliments alrean~ paid theretor, divided by the number of m~nthl~ in- ataliments therefor becoming due r.ot later than one moafh pdar to the due date of any such charge and shall be sub- ject to increase or decrease to the extent required to c~eate as ot a monthly paym2nt date on the note not less tha?n o~e month prior to the due date oi any such charge, an am~unt suHicient tor the payment thereot when due and payable. In no event snall the Mortgagee recei~ing such pnyment be liable for any Intem~t on any amo!~nt paid to it as hemin required, an~ the money so recei~ed may be held with its own funds pending pay-ment or apptication thereo[ es herein provided. The Dfortgagor shall furnish unto the riortgagee at least Blteen da~s betore the due ~lete an ogicial statement oi the amount of any taxes or assessments next due. and such Mortgagee shali pay the abo~ e charges to the arr.ount of the then unused cc~edit therefor as tu~d when they become severally due and payable_ The 1?iortgagee may, at its optlon. pay any of such charges wl?en payabte, either before or after they are delinquent, without noUce, or make advances therefor in excess ot the then amount ot credit for said charges. The excess amount advance3 shall De tmmedtately due a.~d payable to the i~iortgagee and ahalt be secured as an additional pe•Incipal sum under this instrument and bear the same rate cf iaterest irom date ot ad~ancement as ihe principal lndebtedness. M official receipt the~efor shall be conclusi~e evidence of such payment and of~ the ~~slidity ot such charges. The Mortgagee may apply credits Aeld by it for the above charges, or any part thereof, on account of any delinquent installments ot principal or interest or any other payments maturing or due under this iactrument and the amount of credit existing at any time shall be reduced by the amount thereof paid or applied as herein provided. The amnunt of :he cxisting credit hereunder at the time of any transter of the property shall without assignment therPOt inura to the bene6t of the successor owner of the property and shall be applied under and subfect to all of the p~o~•isions t?erc~,f_ tipon thc pa3ment in [ull of the indebtedness, the amount o[ any unused credit shall be upplied to the }~a~•ment thereot. The I?tortgagee may colk~ct a~'late charg~~' not to exceed fuur cent~ (~c? for each one doliar (51.00) of each monthly insteliment payment reyuired ~~n thc~ note and under this ~iortkage which is more than ritteen (15! days in arrears, to co~er the extra expense ~n~•~~1~-c~ in handlint: delinquent paymFnt~. 2. To pay. ~+hen payable, a?1 taxes and a~essments, gere~ ral u.- s~ec~al. K•ater rents and ground rents and all other c}~argea whatsoF:vtr le~•ied u~n or ~.ssesscd or placed against the premises, pro~•ision for which has not been made hete- inbetore, and will promptly deli~•cr the ofticial re.riE~ts therefor to the '?iortgaRee; to likewise pay all titxes, assessmenis and other charges, levied upon or as.e~seci. , laced or made a~;a~nst this instrument, or the indebtedness or any interest of the Mortgagee in the premi~es or the ubligations secured hrreb}•, pro~•ided that the payment of any such tax assess- ment or charge by the ~1~~rtgagor is nat ~~ntran- to law or ~•ould not rnsult in the pavment of an unlawtul rate of inter- est on the [ndebtedness hereby secured. In the r~ent of the passage after the date of this instrument oi any iaw ot the StAte, oc subdi~~ition thereof, w•herein the pr~•r.3ises a.-c situated, creating or pro~•iding for an~ tax, asseavnent or charge ' which by the above pro~•iso is not tn be paid b~• the 'liortgagor, the ~ndeMednesc secUred hereb~ together with interest due I thereon, shall, at the option of the ~Sortgage~e. become imr.iedsateiy due and pa}•able, and in the e~ent payment there- ot Is not made forthwith, the blortbagee ma~• 'ake or cause to ~c takrn such action or proceeding as ma~ be taken here- ~ under in tt:e case of any other defauit in ihe payment ot the indebtedness. ~ 3. To keep the buildings and additiens thereto on or hereafter rrected or placed upon the land insured against loss by fire and such other hazarls, casualties and contingertcies. including v?ar damages if at any time a state oi ~rar exists or it appears to the holder o[ ihe note that ~car is imn:ir.ent, an3 in such amounts ar.~ for such periods, as may be required fmm time to time by the ~fortgagee. and to nay prompUy ~a hc•n due all premiums on such insurance, provision for pay- ment of which has not been made hereiqbefure_ TFe policiesof insurance shall ha~•e los~ payable pro~isi~na acceptable to the ~fortgagee and shall be deli~•ere~l to and held by the Hortgagce. or as it may direct, until this biortgage is satisfied. Renewal policies of insarance, premiums for which ha~e bee~ tully paid, are to De turnist~ed to the Mortgagee at least Siteen days prdor to the expiration date of the insurance thereby renev?ed. The insurance shall be written in companIes appru~e3 by the Atortgagee; in no event shall the '.Hortgagee be held respvnsibte for failure to pay for any insurance written or tor any luss or damaEe growing c~ut of a de[ect in any policy or grov?tng out ot any failurn ot any insurance company to pay tor any loss or damage insured against. I~ the e~ent of loss the Morigagor shall gi~•e im;:~ediate r_ntice by mail .o the Diorigagee vvho may make proot ot loss i[ not made promptly by the .*.tortgagor; each insurance company cortterned is hereby authorized and directed to make payment tor loss directiy to the ~iortgagee instead ot to the I?fort- gagor and the biortgagee jointly: the insurance proceeds, or any part thereot, may be applied by the ~iortgagee, et its option, to the expenses, it any, incurred by it in the collection thereo[, to the reductidn of the indebtednes~ hereby se- cured, to the restoration or repair ot the p:opert~ damaged, or released to the :Vlorigagor v~ithout 13ability upon the rtort- gagee for such release. All policies oi insurance ace hereby assigned to thP `iurtgagee as additional securfty tor the pay- ment ot the sums ana interest secured hereby; in the e~ent of (oreclosure ot this btortgage or other transter ot titiQ to the premises in extinguishment ut the indebtedness, all right, title and interest ot the Mottgagor in and to any tnsurance policies then in force shall pass to the purchaser o~ grantee. 9. To complete within a reasonable time anl building or buildings now or at any time in the process ot erPCtion upon the land and to promptly repair, restore or rebuild any building or imQrovements now or hereafter on the land which mny become dunaged or be destroyed. and not commit or permit to be done or exist on or about the premises anything whereby the premises shall bernrne less valu8ble; to comply w ith all laws, rules, regulation~ or ordirsances of any gavern- mental agency and not ~iolate or permit the riolation az Lo the premises of any building or tise restrictions; to keep the ~ land and lmprovements thereon free trom mechanic's and metPrialmen's liens and ~rill not suffer any lien supertor to the ~ lten created by this instrument to tsttach to or be enforced against the premises. 5. If detault Oe made in the payment ot taxes, assessrnents. lieas. claims, insurance premiums or any other charge ~ whatsoe.wer, or any psrt thereaf, or in the performance ot any act, to be pald or per[ormed by the Mortgagor under the pmvisions henot, the Mortgagee mey, at its option, make payment thereuf or perform any act requfted o: the ~fortgagor in any form or manner deemed expedient and pay any other sum thst is necessary to protect the seeudty of thls lnstru- ment: the amounls so pai~, with interes? thereon from the date oi such pay-ment at the same rate as borne by the prin- cipal Indebtednea shall be assesRed as an additional lien on the pre:nises and shall be added to and become a part of the lndebtedness secured hereby and be immediately due and payabie to the ??icctgagee: My payment hereby authorired to be maae by the Mortgagee mey be made according :o any bil1. statement or estimale [urnished or ~rxured trom the nppro- ptiste public ~8ice or the party claim[ng payment without inquiry inta !he accuracy or valldity Lhereof, and the receipt of ~ any public officer or perty in the hands of the Mortgagee shali be conclusive e~idence ~i the ~nltdity and amount of items so paid: the Mortgagee shall, at 1ts option, be subrogated to any encumbrance, 2ien, claim ar demand, an8 to all the rtghts ~ and secudties for the paymeat thereol, petd or discharged wlth the pr.nclpal sum sec~~red hereby or bq the Morigagee : z under ttfe provWons hereof, and any such rubmgatton rigAts shall be additional and cumulativP securitq to t2~fs Mort- Y~• ~pwc FAGE V~p _ _ =v.~- - m~ { 6V~ -S " z . .n~._ ~ . : _