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Home My WebLink About2089 _ )1 • a QDDITIONA~ PROVISIONS 4. Mo~1po~~ As S~c~r~ilr. Thia Mortga~c is eive~ to secure prompt payment to Lender of the sum stated i~ the first pa~a~aph ot this Mortgage. plus tnterest, according to the terms ot a promissorY note made or Qu~ranteed br MortQagor to Lender d~ted the same date as this lyortgage, and any extensions, re~ewola or modi[ications, and any additioa:l sums loaoed by Lender to ~1ortRagor stated to be secured by this MortQage, plus i~.lerest (all called lhe "Note"),and ihe perform~nce ot all covenants, conditions and aQreeme~ts contained in this VortgaQe, aed to the exte~t not prohibited bp I~w costs and e:penses ot coltection or enforcement. It No~tQoeor pays the Note, or causes it to be paid, according to fts terms. and m~kes dl other payme~ts ~ed per(orma •It other tertas, conditlons, covenants, a~d egreements contained in this Mort~age and the Note, then this Mo~tgaQe ceasec ~~d is vo1d. S. Tox~s. To the extent not paid to Le~der v:~der § 7(~j. Mortga~or shall pay De(ore they become deli~quent all taxes, assessments_ and other ch~rges which may be levfed or ssseased aga?nst the Property. or ag~inst Lender upon lhia MortQage or the Note o~ other debt secu?sd bp this Mo~tQage, or upon Leader's interest in the Property. u~d deliver to Lender receipts showing timely payme~t. 6. Insu~mc~. Mortgagor aAalt keep the Impwvements on the Propecty insured •Q~inst direct loss or damage occasioned by fire. exte~ded coverage perils and such other hasa~ds as Lendr? may ~equire. throuQh inaurers opproved by I.ender. in amouats. without co- ~nsurance, not less than the uapaid bal~nce of the Note or t6e tull replacement value, wl~ichever is less, and ahall pay the premiums when due. The policies shall contaio the sta~dard mortgage clause in tavor ot Le~der and. unless Lcnder otherwise agrees in writing, the ~r~ginal of ell poticies coverir~g the Property shall be deposited with Lender. Mortgagor shall promptly give notice ot loss to insura~ce ~~~mpanies and Leoder. Atl proceeds trom such insurance shall be applied. at Lender's option, to tM installmeets ot the Note in the in• ~~rse order of the'v maturities (without penaity Eor Mepayment) or to the restoration o[ the improvements on the Property. ~In the event ot f.xeclosure of this Mortgage or other transter of title to the Property, in e:tinguishment o( the indebtedness secured herrby, all right, titte, and interest o[ Mortgago~ i~ and to any insurance theo in force shall pass to the purchaser or ~antee. 7, Mortga9or's Cov~nmfs. Mortgagor covenants: . (a) Eserow. To pay Lende~ suf~ic~et~t tunds at such times os Lender desi~ates, to pay (1) the estimated annual real estate taxes and assessments on the Property. (2) all ptoperly insurance premiums when due. and (3) i( payme~ts owed under the Note are gupra~teed by mortgage gu~ra~qr insurance, the premiums necessacy to pay for such insurance. Upo~ demand, Moctgagot shall pay Lender sucfr additional sums as are necessary to pay ffiese items ir? [ull when due. Lender shail apply ihese amounls aqainst lh~ taxes, assessme~ts and insurance premiums when due. Escrowed [unds may be cammi~gled with Lender's generai funds and no interest wilt be paid on them; (b) Condition ond Repait. To keep the Property in good and ten~ntable condition and repair, e~d to restore or replace dam+sged or destroyed improvements a~d (ixtures; (c) Liens. To keep fhe Property tree irom tiens and encumbrances supetior to the lien of this MortgaQe; (d) woste. Not to commit waste or permit waste to be committed upon Ihe Property; (e) Converonce. Not to sell, assign, leasP, mwtgage, convey or olherwise transter any legal o~ equilaLle interest in all or part o! the Property, or permit the same to occur without the prior written consenl of Lender and, without notice tu Mortgagor, Lender mey deal with any transteree as to his interest in the same manner as with Mortgagor, without in any way discha~ging the liability ot Mortgagur hereuader or upoo the Note hereby secured; (n Alterotion or Removol. Not to remove, demolish or materially alter any part of the Property, without Lender's prior wrilten conseot, except Mortgagor may.remove a(izture, provided the fixture is promptly replaced with another fixtum of at least equal utilily; Condemnation. To pay to Lender all compensalion ?eceived tor the taking of the Property, or any part, by condemnation pro- ceedings (including payments in compromise of condemnation proceedings), and all compensation received as damages [or injury to the Propetty, or any part. The compensation shall be applied in such manner as Lender determines to rebuilding of lhe Property or to instailments of the Note in the inverse order ot their maturities (without penalty for prepayment); (h) Ordino~ces; Inspeeeion. To comply with all laws, ordinances and regulations affecting the Property. Lender and its authw rized representatives may enter the Property ot reasooable times to inspect il and, ai iender's optio~, repair or restore it; (i) Subrogation. 11~at the Lender is hereby subrogated to the lien of any mortgage or other lien discharged, in whole,or in part, by the proceeds ot the Note. ~ 8. Authoritp of Lender to Periorm for Mbrtgogor. It Mortgagor [ails to perform any o~ ortgagor's duties set [orth in this YoRgage, Lender may perform the duties or cause them to be pertormed. including without limitation sign Mortgagor's name or paying any amount s~ required, and the cost shatl be due on demand and secured by this Mortgage, bearing interest a a per year, computed from the date of expenditure by Lender to the date o! payment by I~iortgagor. - 9, Delinquenry Charge. I[ an installment owed unda the Note is not paid on or before the lOth d~ after ils due date, Lender may collect a delinquency charge computed at the rate ot 12%. per year on the unpaid amount o( the installment from the due date until paid. 10. Defoult; Accelerotion; Remedies. If, (a) there is a tailure to malce a payment under theNotewhen due and such detault continues t~r a penod of ten days, (b) Mortgagor fails timely to observt or pertorm any of lNortgagor's covenants contained in this Mortgage, (c) any r~~presentation or wa~ranty made in this mortgage or otherwise to induce I.ender to extend cr~dit to Mortgagor is (alse in any material rrspect when made, or (d) Mortgagor or a surety for the Note dies, ceases to e:ist or becomes insotvent or the subject ot bankruptcy or other insolvency proceedings, the Note will, at the option of Lender and without notice, which is hereby waived, be payable immediately, ~,nd Lender may collect the same in a suit at !aw or by foreclosure ot this Mortgage by action or advertisement or by the e:ercise of any other remedy available at lavm or equity. ' ~ ~ 11. woiver. Leader may waive any default without waiving any other subsequent or prior default by Mortgagor. 's i 12. Power of Sale. In the event of foreclosure, Lender may setl the Property at public sale and execute and deliver lo the purchasers ~ d~~rds of conveyance pursuant to statute. ~ 13_ Receiver. Upon the commencement or during the pendency of an action to foreclose this Mortgage, or enforce any other remedies ~ of Lender under it. without regard to the adequacy or inadequacy o[ ihe Property as security [or the Note, the court may appoint a receiver ~ the Property (including homestead interest) without bond, and may empower !~a receiver to take possession ot the Property and collect ~ the rents, issues and profits of the Property and e:ercise such other powers as the court may grant until the confirmatiun of sale,and may ~ order the rCnts, issues and profits. when so collected, to be held and applied as the court may direct. 14. Foroclosure 1Mithout Deficiency Judgment. Mortgagor agrees to the provisions of § 27d.101, VFis. Stats., as amended, permitting i.ender, upon waiving the right to judgment for de[iciency, to hold the (oreclosure sale of real estateof 3 acres or less 6 months atter a foreclosure judgment is entered. lt. Expenses. To the extent not prahibited by law, Mortgagor shall pay all reasonable costs and ezpenses, including w~lhout limita- ~ tion, attorneys' [ees and expenses of obtaining title evidence, inturred by Lender in toreclosing this Mortgage. 16. Severobility. Invalidity or unen[aceability of any provision ot this Mortgage shaltnot aftect the validity or enforceability o( any ~ther provision. 17. _Successors ond Assignz. The oDligatio~s oi all Mortgagors are joint and several. This ~lortgage benefits Lender, its successors and assigns, and binds Mortqagor(s) and their respedive he"vs, personat representatives, successors and assigns. ~ ~ ~ N ~ f p 1?MO R~~. . ~ ~~~~?t;1E C011 T~ ~ ~ ~ pGE~ ~t Qp{}~ ~,i~ . c~ERK ~aiFitO rw~~ . ~ ~ ~ECOAO ' ~ ~ ~ t~ 3 isPN 1 ~ ~ - ~ 29~~ ABSTRACT 8c TITLE CORPORATIONt ~ O R ~ O' FLORIDA ~ BQOK Pl~6f 205 5. 2ND ST. P. O. BOX 3696 ~ ~ ' FORT PIERCE. FLORIDA ~ ` : ~