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HomeMy WebLinkAbout0640 ot the Mortgagec ~ecome lmmediately due and paysble, wtthout notice. and pro~eedings may be 1nsUtuted by the Mort- gagee for the cecovcri thenwt by forecloaure oi this Mortga~e. o~ irt any othec manner permttted by l~w ss tAe Mort- gagee may eleM. anrthln~ lR the note or in thls Mort~e rnatained to the conlrary thereto notwithstan3tn~. Upo~ tore- closure of this Mortga~e. tl~e Most~aQee shall be a:loveed as a paR of tbe inde~tedness secured hereby. ond tRa Mort- ~gor ugrees to pay. aU costs and e~enaes lncurred in connecUon therewith. lncluding reasonaDle attorney's fees. cost ot title aad tax search and the exteasion to date of se~ ebstract ot tltle or Utle policy; and case such toreclosure proceed- ings are settled betore the consummation thereot or the entry ut iudgmen~ any su.:1i costs and expenaes and other charges so incurred, Including s reasoaable ~ttorney's fee, shall nevertlelzss be paid. The 1?iortge~gee or aWr party in !n- teres~ being the righest bidder, may De a purchsser at my foreciosure sale. Any election by the Mortga~ee as ixeretn pro- vided tor may be exenLsed lmniediately upon defsult. or at any dme thereatter, e~d not!?ing shall be construed to be a wai~~z ci such right unless ev'-denced by sn instrument in writing to tt~~t exect duly executed by the Mor4gagee. The Aiartgagor v?•af~es all r[ght of homestead end exemptlot? Branted Gy the Constitution and Lavrs of Florlda. AND THE MORTCACOA FURTHER CONVENANIS AND AGREES: 1. To pay the princlpal iadebtedne~ with interest as [n the note provided. To pay montNy unto the Mortgagee. 1n addlUon to and at the Ume and place for each payment ot principal and interest, an installment ot each o1 the toltow- ing eharges: ta) Taxes and assessments. genernl or special. aad all otAer charges le~ied or to be levied ngainst the premises. lb) Premiums to bernme due and payable for. and to renev~. the lnsurance on the premises against loss by Sre and such other harards. casualUes nnd contingencies as herein pro~•ided tor or requlred from Wne to Wnr. The amount ot the respective monthty instailments shall he equsl to the amount of the annual respective charge next due (as estimated by the Mortgagee). lest all installments already paid therpfor, dh•ided by the number oi monthly In- staliments therefor betiroming due not leter than one month prior to the due dete of an,y auch charSe and shall be sub- *ct to [ncreasz or decrease to the extent requlred to create as of a monthly payment date on the note not less lhaa one month prlor to the due dste oi any such cherge, an amount suHicient for the payment thereof when due and payable. In no event shall the Mortgagee receiving such payment be liabte for eny interest on any amount paid to it at herein required, and the money so received may be held with iLs own funds pending pay~rr?ent or appllcation thereof as herein pro~hded. The 1?tortgagor shall turntsh unto ihe Diortgagee at least fl[teen days before the due date an oHtciai statement of the amount of nny iaxes or assessments next due, and such Mortgagee shall pay the above charges to the amount of the then unu.ged credit therefor as and when they become severally due end payable. The Mortgagee may, at its optlon, pay any ot.such charges when payable, either before or after they are delinquent, without notice, or make advances theretor ia excess of the then amount ot credit for said charges. The excess amount advanced shnll be lmmedlately due and payablA to the biortgxgce and shall t,e secured as an additional principal sum under this instrument and bear the same rate ot interest irom date ot ad~•ancement as the pfincipal indebte.iness. An ot[icial receipt therefor shall be conclusive evidence ot such payment and oi the ~alidity of such charges. The Mortgagee may app~v credits t?eld by ft for the above charges, or any pacf. theseof, on acrnunt of as?y deltnquent lnstallments oi principal or fnterest or any other payments maturing or d~e undcr this instrument and the amount o[ credit existing at anY time shall be reduced by the amount thereot paid or applied as :?rrein provided_ The amount ot the rxis:ing credit hereunder at the time ot any transfer ot the property shall withuut assiKnment thereof inu;e to the benefit ot the successor owner ot the property and shall be applied under and subject to alt of the provisions hercot. Upon the payment in full ot the indebtedness, the amount of any unused credit shall be applied to the E~a.mcnt thereof. The Diortgagee may collect a"late charge~' not to exceed four cents (4c~ [or each one dollar <51.00) ot each monthly installment payment n+~uircd nn the nate and under this ~iortgage ~vhich is more than fltteen <15) days fn arrears, to cover the extra expense :n~~ol~ed in handlin~ dclinquent payments. 2. To pay, when payable, all taxrs and :ts.ticssmcnts, general or spe.:ial, water rnnts and ground rents and all other eharge3 whatsoe~'er le~-ied up~n or asses~ed or placecl against the premises, pro~•ision for which hns not been made here- Inbefore, and v~ill pro~npU} deli~•er the oftici:il receipts theref~~r to the Dtortgagee; to likewise pay all taxes, assesctr?ents and other charges, le~•ied upon or ~ssessed, placed or made a~;ainst this instrument, or the indebtedness or any interest of the Mortgagee in the pm:nises or the obligatictns sf'cured hrreby, pro~•ided tRat the payment of any such tax assess- ment or charge by the ~tortgagor is not c~~ntrar}• to law or w~uuld not result in the pavment of an unlawful tate of inter- est on the indebtedness hereby secured. In the~ e~enc ot the pas~ge a[ter the date o[ this instrument ot any law ot the State, or subdivision thernot, wherein the ~~re•m?~es are situated, creating or pmviding tor any tax, assessment or charge i which by the above pror•iso is not to t~e {~id b}• the ~iortgagor, the indebtedness secured hereby together with interest due I thereon. shall, at lhe option of the ~tortga~;ee, becomc im~nediately ~ue and payable, end in the event payTnent there- of [a ncst made forthwith, the Mortgagee ma~ takP or cause to be taken such action or proceeding as may be taken here- under 1n the case of any other de[ault in the payment of the indebtedness_ 3. To keep the buildings and additions thereto on ~r h~•reatter erected or placed upon the land insur~d against loss by fire and svch other hazar~c, casualties and contingerccies, including wer damages it at any time a state ot war exists or it appears Lo the holder ot the note that war is imminent. and in such amcunts and tor such periods, as may be required from time to tz~ ~e by the biortgagee, and to pay promptly when ~ue all premiums on such insurance, pcovision tor pay- ment ot which hat not been made hereinbeforn. The policies of insurance shall have loss payable provLsions acceptable to the ~iortgagee and shall Le deli~ered to and hcid by the btortgagee, or as it may direct, untSl thls Mortgage is satisfied. Renewa! policies of insurance, premiums tor which ha~•e_ been tully paid, are to be furnished to the Mortgagee at least S[teen days prior to the expiration date of the insurance thereby renewed. The insurance shall be written In companies ~ approved by the Aiartgagee: in no e~-ent shall the 2?Iortgagee be held responsible for faiiure to pay for any insurance written or for any loss or dama~e growing out ot a de[ect in any policy or growing out ot any failure ot ary insurance company to pay for anp loss or damage insurnd againct_ In the e~•ent ~f loss the Mortgagor si~all give immediate notice by mail to the Mortgagee who may makr proof of loss i[ not made ;.romptly by the Atartgagor: each insurance company concerned is. hereby authorized and directed to make payment for loss directly to the Mortgagee instead of to the I.dort- gagor and the Mortgagee jointly; the insurance prucceds, or any part thereof, may be applied by the Mortgagee, at its 8~L30B, Lo the expen..Ges, if eny, ineurred b~ it in the coUection thereof, to the reduction of the indebtednesg hereby se- cured, to the restoration or repair of the propert~ damaged, or released to the Mortgagor without liability upon the 11iort- gagee for such release. All policies oE insurance are heceby assigned to the :~tortgagee as additional security for the pay- ment of the sums and iRterest secured hereby; in the e~•ent ot [oreclosure of thia Mortgage or other trar~sfer ot titla to the premises in extinguishme.st ot the indebtedness, all tight, title and interest of the Morigagor in and to any insurence policies iinen in torce shall pass to the purchaser or grantee. 4. To rnmplete within a reasonable time ar_y building or buildings now or at any time in the process of erection upon We land and to promptly repair, restore or rebuild any building or improvemenLs now or hereaiter on the land which may become damaged or be destroyed. and not rnmmit or permft to be done or e~cist on or about the premLses anythtng whereby the premises shall become les4 valuable: to comply with all laws, rules, reguletions, or otdinances of any govern- mental agency and not ~-iulate or permit the violation as io the premises of any building or use restricdons; to keep the ~ land and impmvements thereon free from mechanic's and materialmen's liens and wiil not su:ter •:ny lien supertor to the lien created Dy thia inst!vment to attacA to or be entorced against the prnmises 5. It detault be made in the psyment of taxes, asses.vnents. liens, claims, insueance premiums or any other charge ~ whatsoe.wer, or any part thereot, or in the performance of any acL, to be paid or performed by the Mortgagor under the ~ pmvWons hereof, the Mert~agee may, at its option, make payment themof or perform any act required of the Mortgagor ~ in any form or manner deemed expedient and pay any other sum that is necessary to protect the seruritq of thls instru- ` ment• the amounts so paid. with interest thereon from the date ot such payment at the same rate aa borne by the prin- ~ cipal indebtednefa, shall be assesaed as an additional llEn on the premises and shall be add~d to and become a part of the - lndebtedne~ secured he: eby and be immediately due and payable to the Mortgagee. Any payment hereby authori~d to be made by the Mortgagee may be made accr.rding to any bW, statpment or estimate furnlshed or prorured trom the appro- ~ prfate public oHice or the party cLaiming payment w[thout lnquiry into the accuracy or vdldlty thereof. and Ne receipt af any public officer or party in tne hands of the Mortgagee ahall be conclusive evidence et the ~~alidity end amoant oL ittms io pa[d- the Mortgagee shali, at 1ts optfon, be subrogated to =iny encumbrance, lten, claim os demand, and to all the rights end securlUes for the payment thereoi, paid or discharged with the principal sum secured hereby or hy the M~rt~agee ~ under tNe provWons hereof. and any such submgation dghN shall be additional and cumuLtive ~ecudt7? to tbfs Mort- ~ ~o~K2~1 ~c~ 640 ~ ~ ~ . ~ a - - - - -R _ _ _ ~ ' 4 ~ . . . ~ n_~_ F' ~ . . , i~u~ ~ ry?:'~