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Home My WebLink About1447 9. 'ifie Mo~t~a~tee tnar. ~t its oplio~. snd withwt wsivio~ iRs riRM M accelerate the indebtednets1+et~eb~ xcun~ ~~o twecbse the same. paY ei~he~ brfo~e or afee~ deli~quencr anr « atl d ~hose cen•in oblesacwns .aquired br iAe cem~s 1tieW to be pr b the MwtRa~ tor ~he P~oe~ce~on oE ~he aan~ase se~,uar o~ tor ~I?~ ~olkc~wn ot ihe ?~debcd~ess hc~cb~r secvred. All :~ms so ad~~~c~d « pad br ths Mon~aRee s1uU be cha~~ed into the matsase sccouot and btroa~e sa ~nteRnl paR the~cof. wb~ect iA sll ~K~ccts to the tern~s. co~d~tio~a~ ~nd covenaat: of the aloresaid p~omis~ no~c. and Ihis matsase. u~uUy and to tk ssme estent as thou~h a paR d the ori inat ~~~lebtedoeu ~.~denced by asid awe ux! securcd by this mo~t are, eaceptins, hovreve?, lhat uid wms shal! be ~epsid to ti~e Mo~t~a~:e~orthwith upoa its J~mand a~?d be in add~tan to the regula? mont~y instslla~ents pwvided br tlk aw~tRa~e note. 10. That the sbst~act o~ abst~acts d tille cove~in~ the mu~t1 ~a~ed propeAy shal) at ap tima. durin~ the liie d this mo~tRa~e, remain ,n ~he posses~ion of the Mort aRee and in evrnt of the forecbsurc d lAn nwrtRaRe o~ olhe~ transler d tNk to lhe mwlgsged ptope~tr to the \1oNga~ee all ~ght. titk an~interest of the Mo~tgagor in and to anr wch abst~xts of tNk sAal) pass lo the puchaser or grantce. I1. That no waiver o( aoy covenant herein or o( the obtigatian secured he~eby ahall at any time he~eaftr~ be held to be s vraive~ d tl~e temu he~eof or d the iwte sccured he~eby. 1?. Thst io arde~ to accekatc the maturity of the indebtedne.s hereby secured because o[ the [ailurc of the Mo~1Ra~~ eo ~r •~r ~ ~sussment, liab~lity, obligatioo or encumb~anct upon said p~opertY u h-cein proviJed, N shaU not be neceuary ~~rquis~te t t the Mataaaee shall Rnt p~y the same. 13. To the eatmt o( the indebtednes~ o( ~he Mon~a~u to e!?e Mo~eRa~ee described he~ein or secured he~ebr. the MortgaRee is 1?ereby wbr~ated to the lirn or liens arn1 to the riRhts of the ownea aoJ holckn thereof of each and every aa~tK~Be, lieo or other incumbrance o0 ~h~• Lu~d descnt~eJ he~ein which ic paid snd/or satisGed. in whok a~ in pa~t, out of the procreds o~ the loan described he~ein o~ ac~vted he~eby ~nd thc re~pe~trve liens a( said moit![aRes. liens or o1he~ incumb?aeces. ahaR be and the same and each d them hereby isprex rved and shal~ p.~.~ to and I~e held by Ihe A1oARaRre haein u securitx ~[or the inckMeJnesc to the MortgaRre he~ein descrihed ot herebp xcund. to the :.~mr ratent that ~t would have been preserved and w•ouW have bee~ pn.ed to anJ been held bq the AtwtRa~ee h~d it been duly anJ rey~ula~ a..~Kna~l, tr~m(r~rcd. sel over, and dcGvered unto lhe 1?1oR~aRee by x{~nte dred of a~vgnment, notwith~ta~ulinR the fact that the ume may be ~atis6eJ :?ncl cancrlkd o[ nonrd, and AotwNlutaoding Ihat the pa~hea herrto contemplate tl~t the same w~U be ~atufied and cancelkd of rrconl by the holJers the~eof at nr about the tune of tAe recordinR d this monAa~te. ll. (t am of thr ouu~s of monry hertin re(rr~rd to 1?e not ~KOm{Kly ~nd fully {?aid Nithin tweoty-five ~'2~1 da~s aext after d~e s~tae >rv~ rally cotu~ due and ~ayrble. o~ if each n~ld cvery the stipul~tion~~ a6rermrnls. condiliuns and coven~nts of ~aid Exumissor~ note and this ~uurt6a~tr or rithrr, are not duly perfo~med, cumplied Nith and abided by. the a6~ce6ate rum mnntioaed in ~aid promi~.,ory aote or otherMifr -~•~•ured l~r.rrby sball beco~ne due a~d W~able toc~hNith or therea(te~ at the option of lhe 111ortRa~teq as fuU~ and ~on~plrtely as i( said aFR~r~ ~atr sum of muney was ori6itwlly stipulated to be paid on such day, auythin6 in said pro~uiswry aute or hetrin ~o tl~e contrary aotwith~wn~lina. 15. ln the event of the accekntioo d Ihis mo~tgaae and the note socured he~ by reason oE a,~r d~ra„Ic c1~~, apr ~d a~d unearned intcrest, in e:cess d the kgal rate af interest to the date d enEorcemn+t orpa ymmt, shaD thereupon be rdunded M the mo~t8sgor ~utomatically by the crcditinX of same a~iinst the sums then due, but such credit shall not curc or waive the defauk oecasianina sooeleratioo. 16.( a)]n o~dcr to morc fully protect fhe scavrity of thr MatR-iRe, and ta acsurc the MaiRa/,wr s complianre with cYrvenants 3 and 8 hered. the INortRagee msy ai any t~me reqwre thst the Mortga~. toRN~~ ~th, and in addNioa to. the monthlr p~YmeMs w~der the teruas of the rwte seeureJ he?eby, until the saiJ note ic fully paiJ, will p~r to the MatRaRee the follawinR ~ums: A wm equal to the ati~aated ~nnual tua and aaeasme~ts ne:t due on the mort~aRed pmpertY, plus the Premiu~ t~st will nest I~ccane due and parabk ~ policies of fi~e .nd dhet haurd insurance coverin~ the mo~tRaReil properly (all x~ rstunateJ br lhe MortRagce. and of which the MwtKaKo~ i+ noti&d). kss all suma alrcady paid there%u, payable moothly, iu equivaknt portiom Jivide~cl hy the number of mrntFu to rlapse befcMe a?e mooth prior u to the date whrn such prcmiums, ta:a and z..easments wiU ome Jeiinqurnt, .ixh .um. to hn c~ld by N1cxtKaKK ~n twt to pay aaid premiums, tuts and saaessn~ents. ( b)'il~e a~~ate d the amounts payabk pursuant ta sul?-para~aph ( a l. anJ those payabk oo t1?e note seeured herebY. shall be paid in a singk paya~ent each moeth, to be applird to the (dlowi~ iteaa~ io the order atate~l: 1. Tues, asseuments, 6rc and other hazarJ inwrance prem~ums: 11. Interest oa the note secuml herebr: and lll. Amo~te=ation oE the prinripal of said note. ( c) My de6cierxy in the artaun! of ~aid a~rr~atr mund?IY paYmrnt .hall. unleas m~~k Rood by cl~e Martaago~ ~eh~ ?S ilays (ollowin~ its due date, conatitute an evcnt of ~kfault under thi. mnrt~abc. 1T. If the tota! ~f !he ~?ayment~ mack by the 1?1ort~a~?r unde~ ( a 1 of p.~ra~;~aph 18 prereJing shall e:ceed the amount of yments a actually made by Ihe MortRa~ee for taRec a~x1 acsescment., and incura~eti• premiumc, a. the ease may be such e:eess shall be crcdit on sub- ~ayments to be msde hy the I?1ortKaRor fo~ ~uch it~m.. 1~. M~wevrr, .uch mrmthly payment~ ahall not be suA'icient to pay such items when the came shall become due and pay~ble, then the MoAKakiu ah+ll I+aY to the Mort~a~ec any amount oeeessary to make up the ele6c:ency. Such payment shall be rtude v~ithin 30 days a~ter wrilten nolice from tht MortRaAtt. ~tatinR the amounf af. the de6ciency, which not~ce mar br Riven bY mail. IF, at any time the 1?1ortRaRor ahaU tender the P1ortKay~ee, in aca~nlance with the prm?isions of the note se~vrcd herebr,,~ull . payment oF the eohrc ~ndebtcdnea~ rep~eaented thrreby, the 41nrt~a~re ~hall. ~n a?mputin~e the atncwnt of such iadebtednaa. creJit to the a~~ount of the MortgaQOr an~• credit habnce rema~mnR undrr thr pmvi.~on. of (a1 uf aa~d narakraph 16. !f thtre ahall be a deiault under an.~ of 1hc provi~ans of this mort~a~e rrsultmy~ in a judK~ial ..de of the pr~mi.rs ,~pvern! heteby, or if the 111ott~a~ee acquires the property r~therwi~e after deiault, the 1?1odRa~ee shall apply at the turK ~ the rwnmencement of auch pmcee~JinKs, ~x at the time the-property is ntherwise ac~uired. the amount thrn remaininR to crcdit of 1ltortgaeor uodrr l a) d pangraph 16 preceding, aa a rredit on the intereat accnxd and unpaid and the balance oE the principal then rcmainin~ unpa~l on saicl note. 18. That in tAe rvcnt the ownerchip of aaid propeAy or any part fherenf Fxa?mes vested in a pena~ othet than the MortRa~.'[he '~lorty~a~ee may, without notice to the Mortsa~;or. ~kal with .urh suetie~W?r ~x .ucceswn in intereat wilh rcference to tltii mort~aAe and the ~1rht hereby secured in the ~ame manner as with Ihe i?1nrt~;~Kor, aRd may torhear to ~ue or may t:tend t~mc for paymrnt d the debt, seeured thereby. without dischar~ing or in any way alFectiog the liability oF the Mottga~or hereunder or upon the debt hereby atcared- j l9. Tha~t this mortgaRe also secures the payment o[ and includes all future, or [urther ad~•ances as shaU be made by the E m~~rtg:~~ee herein or its successars or assiRns, to or for the benefit of the mo_rtgagors, or their heirs, personal representatives, or I a~signs, w~thin ten years from ihe date hereof, to the same extent :ts if such future ad~•ances were m:~de on the date of the e:e- ~ .~~~;~n tbis m~rfeage. The total amount of indebtedness that may be secured by this mortgage may decrease or incrn.-~se irom i t~me to time, hut thP total un~?aid balanre so secured at any one time shall not exceed tKice the principal sum set forth in p.zra- ~ ^r:~ph 25 belovr, together «~ith interest thereon and any :~nd all disbursements made by the mortgagee (or the ~~yment of tases, ~ l~•~•i.~s or insurance on the property ~-overed by the iien ot this mortQaRe•with interest on such di~~ursements at the rate specified in the note referrecl to in this mortKage, and for re~sonable attornec s fees and court costs incurred in the collection of any or all ~ ~~f surh sums ot money. Such f~rther or future advanres shall be ~a•holly optional v~ilh the morfg~gee, and the same shall bear ~nteresf at the same rate as s~~ccified in the note mterred to herein, unless said interest r~te shall be modified by subsequent ~ :i~rc~ment_ . 20. That if at any time wh~k this mortRage is in drhult tl~c mort~;~Xe+1 PtiPrrtY sha~~ br abanda~ed• "i~yteJ a kft una:trnded the ~lnrtgaQee, ~f in ~t. discretion such steps arc neces~ary (or the pmtitition oF t:x property, s1?all have the ri~ht, pawer and authority st its r~pt~~n to enter u~wn the property and to xaure came by chang~ng lock~ thrrcon. to ~uint a~xl rcpair ~uch p~emiaes, and to place signs thereon nntify~n~ that it has takcn possrssion o( the p~emi~es arul it may also pla~r ~iRn+ thereon offering to ~rll the premixa subject to its ac~quisitipn ~~F hde thereto by torecbsure proceedings or otherw~se. and any such action by ti~e MortRa~ee Z~ de.cnbed above shall not be deemed to 6e a treap.u~ or tre~passrs or unlawful detainer upun .uch premi~es. Al) wma paid o~ advanred by the !?lortgaQee in the protection of the mortQaged premises u herein Rrovided shall be charRed i~to the murt~a~e acrount and brcomt an inte~n) part thereof, mbiect in all respects to the terms, conddans anc! covenants af the a(oresaid promissory note, aod thi. vwrtRaRe, u fully and to the same eiterit as though a part af tt~e onR~n~l indebtednesx evideneed by said note and aecvred by this m~xtleaAe. eaceot~ng, however. that said sums shall be rcpaid to the ~t~rt~a¢ec f~rthwith upon its demand and be ip additio~ to the re~,wlar monthly installments provided by the moRga~e note. . 2;. That in ~he event the premixs hercby mortRagrcl. or any part thereof. ~hall be c~andemned and taken forpu blic use under the pnwer of eminent domain, the MortRaRee shall have the rig~t to requirc that aU damaRa ava~uded Eor tF~e taking oF or dartuge to said premises shall be paid to .he 1?iortgagce, nd to e:ceed Ihe then unpaid balance o( -this tre~rtgage and the note secvred hereby and at the ~ o~!io~ of the Mort~gce may be applied upa~ the paymrnt or paymentc last payabk herton. 22. To further xcure paytnent of the indeMedneu of the ~tort~aRor to the I?1ort~agee, the A1ortRagor does hereby sell, usiRn, tnnsfa ~ rnd Yt over unto tht !~lortga~ee all of the nnts, issues anJ pro6tc of thc mortgaQed premixs, and this assignment shall become aprralive upon any dtfault beinR made by the I?tortgagor under tht term~ o( tfiis mortRaRe or IM note securcd hereby, and sball rcmain in ful! force and ~ ~ Yrct so bnR u any dr(ault continuea fo e:ist in the making d any of the paymen!s or the performance d any of the eoveoants oE this mort- - Fa~e or the note secvred hereby, and the Mortgagee shall have the riRht tn enter upon the prem~ses and colkct same directly from penons in E~ossession. That if this Mortgage secures a commercial loan, the 1lfortgagor agrees to furnish to We Moctgagee within thirty days ~~f the end of each fiscal year a siatement of operating income and eapenses reflectiag the operation of the faciLty encumbered by ~aid l~tortgage for the past fiscal year, such operating statement to be prepared in form and manner as is customarily employed by f'torida accountants for such purposes. 23. ff thi~ moRgaqe be for Ihe purpose of financinR co~?st~uction or ~mprovemeots upon the pmperty descnbcd in panaraph 27 below the Co~sttuction Lwn ARreernent betw~cen the p~rtics of eve~ date !?erer?nth ia hrreby made a part of tbis mortgage by re(errnce as tho~gh fully set forth l~ercin. ~ - 24_ Shauld 111ort~agor, or any oth~r person acquiring title to the real estate encumbeted hereby, transfer said title, or should same be transterred by opention o( l~w, then at the t~me of any such transfer or iransters btortgaRee at ils option and in ita sole discretion, shall ha~•e the right to incre:ise the rate of interest prescribed in ~id Premissory note to the rate ~ahich ~fortgagee shall then be charging on new mortgaRe loans sec:ured by real estate similar to ihat encumbered hereby.~ Any sl~ch in~rease m interest rate shall be et(eclive as of ihe f~rst day of the month next tollowing lhe date of any such tronsfer of title_ ~nv such incre.-ise in interest rate shall be e(fcrl~cl either lhrou~h an increa~ in tlre term of the loan or a chanRe in ihe monlhlv ~nctallment t~•~>•ment under the xiid promissorp note, or twth. at the oPtion of the A1orlKa~ee. Su~h in~mased nte shall he bindin~ ~~~K~n the suc~•essor in tiUe and upon all sut?~cequent transterees. and upon 11'Iort~aRor. \fortRaRee shall have the right to effect °~~K229 PACE1446 pACE 'I1V0 : z.., ~ ;~3 = - - - - - - - - ~ ~ ~ ~ ,ia, - ~ _ ~ ~ _ ' ~ryr~ x: . _ ~ -