HomeMy WebLinkAbout1720 issuac~cc of ~uc;~ ::~licfes the ••:ortqayor wi21 de2iver tha same and all r~ne~~als
. ' thcrcof to th~ r~ar~gagce and wiZl also deliver to thQ t:ortgayee recei~Cs'for
the pre.~niu.~s p~id thereon. Any policies fuznished taortg~gee shall becoc~e its
pro?~rty in th< even~ Mortga~ee U~caaes the owner of said pre:nises by foreclo-
sure or otherarise. The I~o: tqaqee is hereby author~zed and e;npoaered, at its
optio:~, to adjust or canpro~ise any loss under any insurance polic~es on the
premfses, and to•collect a-?d receive the procpeds from arty such policy or
polics~s. Each i~nsura.~ce cc..~pany is hereby authorfzed and directcd to r~ake ,
. paycient `or all such lasses directly to the Mortqaqee, instead of to,thc t4ort
qa3or and kortgaqee jointly.~2n case of loss under any such policy or po2icies
of insuranc_, the rlortgagee may apply the net p~oceeds to the payment of the
~indebtedness s~cu;ed.hereby. . . ~
• . .
. . ~ . . .
~ 51. The I~iortqagee may, at its option, and without waiviag its riqht to acce2e-
rate the indebtedaess hereby sectired ~nd to foreclose the same, pay either .
before or after delineuency ar.y or all of those certai.n o3ligations required by
the tezms hereof to be paid by the Mortgagor for the protection .of the niortqage •
_ security or for the collection of the indebtedness hereby secured. All sua~s
so advanced or paid by the Hortqaqee shall be charqed into the mortgaqe account, ~
and every paycaent so raade shall bear intezest from the date thereo£ at the rate -
of - . 14.75~ per annwn, subject in all resp~cts to the terra~as, -
conditions and covenants of• the aforesaid Promissory Note, and this riolrtqage, -
as fu3ly and to ths sa~e extent as thouqh a part of the oriqinal indebted.zess
evidenced-by said Note and secured by this Mortqaqe, excepting, ho~ever, that
said sua~s shall be repaid to ~he Mortgagee within fi~teen (15) days a£ter d~-
mand by Alortqaqee. to Mortgagor for said payment. ~ . ~ . _
52. This instruatent also creates a security.interest in.favor of Mort~qaqee .
under the Florida IIniform Commercial Code arid Mortqaqee shall also have all
rights and remedies of a secured party under the Folorida Uniforoa Co~aerci.al ~
- Code, and withou~,li.mitation upon or in d ogation of the rights and rea~edies ~
created under and accorded t~ortqagee by ~s Mortgage pursuant to the co~n ~
-law or any other lacas of the State of Florida or of any other jurisdiction, ~ ~
it beinq understood that the rights and remedies of Mortgaqee under the F2ora.da
Uniform Conmertial Code shall be cuatulative and in additi.on- to alI the riqhts '
and remedies of Mortgagee arisinq-under the coa~on:law.or any other laws of-t2ie ~
State-of Florida or of any othex jurisdiction. . • - t
,
i
i
I
I
i
Initials:
~
w
. ~
r
r
I
i
; 800K ~1~ PAGE ~ ~
:
;
~ 6ooK 2~4 F~~~ i~'19
6AW OFFICEl. G01JR~NON • COIJRSNON. FORTY-FIRfT iTREiT OFFICE. POST OFFICE BOX 2047. MIAMI BLACN. FL.ORtDA 5.111Q
; _f ~
. ~ . - ' _ =
• ~ z;- . .~.~3r~„<~