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i•. '!'u Ixrlaun, cwuply wit!? socl ~tbitlo by oe~'i atrl ev~eiY st~pu4tion, ngnYtinrut, co?xlitiw? :uKi co~ru.u~t u? said p~~u?iswry uute u~xl dre~l
~.•t forth.
7. Iu tix: evcat q~c jurixlietau oi d?r U. C. UistriM C:uu~t al+all be iu~ol:~d by w a~a irst Ihe I~fo~tka~or w~cter any of U~e pru~iaiw?s o[ tiw
i'~d~:~al Baakruptcy~ Aet. 14K`I: aciion, ~vlk~tt~r vol+mtary or ii»•ul.intary un !!~~a ri oE t!K Atn~,~Rur, s}?al) auioauticuUy, witt~out rwtice, xa
..•1.•~:~te tl~e uwturity ot nll ~w~r. nw~x:y t~n~ia drxrelx~l uu.l xrured ,uxl U?~: aama aiwl! ~.~icupon becon~o duu a~:l payaLhs [r.rthwith .
lully as it tt~e sakl asgregite sw~u oi owacy Nl`fC Ol1~:1[I$IIy atipul:~t:~ to be paid oa auch ~ta.
±s. To Jeli~rr to aaid I~iu~t_~aAee, ua o~ lxEon~ ~larch lStli o[ each ~Yar, tax rra•ipts e~~ideueing tl~epa
Yl,xat ot rJl laMiully ia~pcuecl tatot
tur :l~c: Frcrediug c:Je~xlar yeur. a~! to deli?~er to s+ki \foetga~~ t cipt? c~idenru~ 1Le gaywent of aU ueas ior publie uup~oveiue~uts witlun
ainetY t901 days aftar tbe same shall ba~ame duo aod payable. 1PaY or dLschar~te wit6ia uiaety (90) days alter due date~ aay aad aU
go.~ernmea•.A1 levi~ tlwt uuy bo made oa tFie -matBnKec1 Prope~tY. oa tkh uartgage or aote. ~ ia eny other way raulting fran tbe MartgaAe
indebteclnes~s securod by t!~ mwt~a : uxl fE this coad;tiou be uot com~lied vvjth aa~l perform~d, said mortgaFee auy W?Y such rum o~ s~sms
K•~ ~ sns
p~ut oE t!?e debt kesa.~ured by thit uiortga!!0. and s6:1~ bea~ interest at tbe dafauh nte p~ovided ia saici pranissory nota
pa~abk n?oathly until paid or ssid !?1on~agee roay r]oct tl~at s~3d mortgage dcbt fhe~eupoo becoa~e dac a~ul payabla forthwith. ~
9. It iu [urthe~ co•~cuantcd anc3 agreed by srtid parties that iet tLa er~at oE a seift being instituted to foreclase this inurtg~ge, t!?a M
sh~ill be ~~atided to a °~'~A~
`~f pply et any time pemling s~ch foredasure suit to the court luving jurisciiction thenof fo~ the appw ntinent of a recc~ver
guL1~ the mortgagcd property, acxl af alt tl~e rcnts. inrnmcs~ ~rofits, iuues sad nvroues thereoE, fn~rn whatwever weucr deriveei•
s,xl lhereupon it ic hereby r~cpreuly covenanteci and akrerd that the court shall forthwith appoint a reeeive~ of said mo~aged propeny, al~
and singular, and of such reos. incames, profits, usutis ancl re~rnue thereuf, fmm wliatsoever source deriva~, with the usuai-powers aad
dutiea of rectiirers in lile r~+es; and sueh appointaK•nt shal! 1?i~ madr by such court as a u~atter of strict rip,ht to th~+ 11lort~er, its succes4ors.
legal representaNves or usiXnx. and witha~t refenncc to the adt~lyary or inade~~uacy of the value of the pmperty hereby mo~tgagal. o~ tu t4?e '
~~!•nt of thelnx~rtr.aee inJebt ~M~~AttCOS~SaIIM~L~Idt SLCI1 rr~t. pratits, inrome, issues anci ret~enacs sl~all be ~ppliexl bp such «rPiver to t}ee paY-
'sc, harRes, according to the order of snc6 caurt.
10. If all or any put of che prupercy or an intercxt therein is solil or traas(erreci by morlRaKer without morigagee~s prior written consen.,
rxcludin (a) the creation of a lien or encwnbranee sul~ordinate to this mort~Ca ge. (b) the creation of a purcj~se nwne se~,urity iateKSt fos
h~~ueho~ appiianee~, f e) a tra~ufer by de~tise or dcscen., or by operation of law upou the death of a joiat tenant. cK (~d) the grant of any
le~c.•h~1 inlerrst of thrce ~•rars or k~ not cont~inin; •rn option to purchase ~nortga~ee may, at itsop tzon, decla~e all the suma secured by
this nx~rt~;a~c to lx~ immeJiately due an~t paya6k. \iady~a~ce shall havr K-aiecd such option to acteMrate if, prior ta the sale ar lransfer,
~„or:~a.ee arxi lfie prrson to whom the propcrty is to be sokl or tratuferred n~ach agreem~
nt in writing that the credit of such perwn is sat-
i~F:ic~twy to 1lortga~ee and thnt the interat payable on thP sums secumd h~ this mortRa~c_ shall he at such raie as ~iartgagee shall rec;uat,
! 1. That i~~ tLe e~vnt the premises herel,y cwrtgaFed, or any part thcn~of, sha[! be condrmned and takrn for pubiic ~ue uncier the powrr
o.` ~?nineat domain, thr ~tort~J;;er ch:tll hacc the right to drmand that a1) damages awarded for the takiaR oE or darua~rs to said gmmises
sh~ll M paid to the Aiori?~a1~ee up io ti~r amasnt tlxn unpait~ ots th~c :norl,arr au~ at the ogticx+ oi t}.P I?Inrfeaetw. ~nav t?e aPplirtl upop
th~• pa~•mentc lut payabk thereon. -
l2. Th•~ mort~;a~or bicxls him~clf n.~t to errr; or permit to ?K~ e:arted any new buildings on the preinises herein nx?rtRugrc! or to a~Ii) t~
o' prnnit to I~c addeci to any of the e~ostin~ iwpro.~ements tLe~ean or make any chs+nqes or alteratioas ia said impro~~ements which materiall~•
~•~~.:u~,+c the can~e or tlie use thercof, without the wriui•u ccxuent of the MortRaqee, aml in the eecnt of any violation or attempt to violate ti:is `
~tipulation thi.c mortt;a~e a~xl all ~ums securer) hemby sha11 imrr,ediately h~~c~ome due aixl collectible at the option oE the ~iort~agPe. ~
1•~. It ic s~rifira~}y agree~c! tf~at ti»~c is ~f thc es~cncc oi this contraM and ihat no waiver of any o64Ration herchindcr or of the obli~ation i
~ eer~Y) hcrch~• shal) at am• timc Ix~ heki en IlC A W.11~'P[ Of C~LP tP~IR; }iCfCpF pP pf ~}1P 1[1StR1lMJL SCC11Ip'Cl I1CIC~)y. '
J9. lf fomck~.ure prtxreclins~ oE eny scro~Nl ur~rt}s~e ~r second tnut deed or anp ~um~or lirn of any kiocl shonld ?~e institutRl, the I?lo~t_ ~
us~,ir inap. at its option. imm~~diately o: therrafter ci~rL•~re t1~is n~ort~aga and th,e ~rS!-3..
~ sc~u:~i !:asr!~y dcze w:r? i~:l's~:~x. far!~::r'th, s:td
may at its ~+ption procec~d to forecl~ th~~ mort~rc~.
15." To the ectent of tler Ifi(~eZ~(ti~M~SS Ol !~u• \}ori~;~~;or to tl:e ~Iort~;::Ete dacribed herein or securecl hereby ttZe I~lorty~attee is hereby
+ubrafrate~i to the lien or lienc and to the rights of thc ownerc and holden t}~ereoE of each anci eve.ry ~nat~;age lien ~r other incumt,rance on the
lancl dcsrrihed herein v~•i?ich ic paict a~d/er satisficd in whole or in p:.rt oid of the proeerds of the 1a~n descrilx~d herein or secured hFreF,y
an3 the n~specti~r liciu of s:iid ~uortgafiec. lieru or other incun~hranr.s shall be and the same and each of them hereby is pnsen•ed arnl shal~
~ass to and hr hekl by the \~ort~a~ee hemin as security for tF?e i~rle6teclness to the Afort~atcee hemin described or hereby securecl, to the same
~~xtent that it w~o~~kl hati~ tx~cr~ p?csenrd ancl would have heen ~asced to and been hekl by the I?tortRaRee had it been duly and re~ularly
ic~ciRned, traacferml, set o~•ei and drlivenYl unto the »ort~,a~er b> separate deecl of ~ssignrt?ent rx?lwithsta•xling tbe faet that the same ittay
t~ satisfied anci cancriied of recorci, it bein~ the intention of the paries her+eto that the samr will be satisfied and carrceDed of n~conl hy the
hnklcrs t?r.~rmf at or a2~ut the time of the recor~iinK of this mortgage. • .
IR. To pay all and sin},nilar the cncts, char~tes ancl er+enses, incfudin~ la~v~ er's fres, reasonably incurred or paid at am ti~nr by the :
LaL~r, becauce of tlie failure of the \IortqaKor to perform, comply v?ith an~l abicie hy each and ev~ery the stipulatiw~c, agteements, co:=:°tions, 3
arxi co.rnaots of said prtxnissory iu~te :,nd this deeYl, or either, ancl e~rry such payment shall bear interest from date at the default rate pro- f
~ icled in said promissory note.
17. When any amount ofmoocy to 1~e paid by thc \tortRagor to the \toKpaRee wKler the tertns hereof sl~all be in default, or should the
~iortAat[or clefault in an~• af the other ternu, pro~~isians or randitiouc of thic lfortKa~qt, there and in that case the Mort agee shall bave the
riRht, withw~t notice to the ~tortKagor, to cnllect and rea-ei~-e from any tenant or Iessee ~ said tnortgaged pre~nises ~ mnts, issues and
profits of the mal estate herebp ~nortRaged and the improver~~rnts thereon, atd to gi~~e p receipts and aa~uittances therefor, usd after
~avinc all c~or.~miaicun of any rental agent culIeitinR the sanx , a~xl anv r^atonabk atttt
s~fees and other necessary etpenses incurred in
collectin~ same. to apply the proceeds of such collectioas apon a~p inilebtedness, obliRation or lisbility, of the ll9ortgagor herp~u~der. T!~
ri•,tbt Rrantcd thc ltorttCagee uad~r this pa:agraph shall l~c in addition to: antl sha11 oot limit ar r~-trict, any pther ri~tht or riRhts Aranted t}~
\i~~-t~a~~ew in thic ~iort~aae_
lt+. if the ~(ortgagors at the time of n:akin~; this ~tortQaxe or subse~uent thereto take oat life ~nsuranre devRoatinR the A:ortgagee herein ;
t. ixneficiary Nith a rnmprany appm~ed by the ~tnrtRaAec ~:~r assigns poGcies to the Mortqagee fot the purpose af securing the mortga~;e baa
h~*ebv vr~veYl. then the ~~ortRsrter sha1) ha~r. the riAht to pay any premium acerning undec said policies, and all su~ns so e:pencieci shaR be
addecl to ancl i~co~ne a~rt nf the principa1 indebtedness secumcl liy this 11ortKage cnd xhall be p aid b
y the Mort g
a Aor to t}te !1lo
r t g
a g
e r
in ~HYI~'P. P(j113~ CAILSECUt1YC monthjy inctaliments, the first mont}ily iastallment to be paid as a part of anrl in addition to die mo~nth}y payrnent
c
ciue under this ~~nrtRafi~ ~n the first calenda~ ~nonth follow-inA the espeixlin~ of said sum. Svch sums so ezgended to bear intrrest at the rate
a, wl~ich inte:est is payable upon said principal indPhtcdnr~ss arxl ~i?e lien of this Mort~{aRe shaII extenct to and secure the sumt so e~pc-nded
toc~ther weth inte-c~st therc~on as her~einhefore pro~iJed.
i9. :tt mortgaQee's optioo, toJEether with and in additiori to the monthly ~ayment of principal and interestp yabM_ unclcr the tertiu of the
~~o:r se•curr~cl he~eM•, \IortAa±tor shall zy to ~iort¢a~cee eaeh mcx~th ~natil sai~ note is fuDy paid, a~e-twelfth (1/I2) of a sum eqw11 to the '
anni~al.pmmium d~m ior fim. cxtend~.~overa¢e, ancl other ha~aRi insurance incirulinR t~o~ocl insurance, coverin~ the mortAaKPd property.
^1~u taxeK and assessments neut dne on the morteaged praperty (all ac estiinatc~i by I?iortqati!•e~ lecs all sums already pai~l t6erefor, and to be
rii~~i~ied hy th~ mimber of mtmthc to eiapse prior to the clate when s~xh tazes artd assessrnents sh.~il beco~ne delirn~nent_ Sald sums shall he
held hy Aiort¢a~ee ;n irust or credite+d to t~e prin.-ipal of thc loan, to pay said insurance, tazes, and assessments and shall bc applicd on the
oaymrnt ther!Y?f when due. :1r.y ezeess h~l~i in trn~. hy ~tortea¢cr whrn said loan is paid in full shall I~e paid to ~[ortFaQor, or hit acsiRni,
or perx?naf rnpresentativex. In the e~rnt of a defawt ar forerb~cure, said sumc hrlr! in truct may be app]ied ~n any coats of damagrs sustained
ii~ rnnnrctinn with the coll~rtion t,f the ncite seceir~ ik~rehy vrhether Ly suit, foreclosure, or othenvise. 1?1ortRaRee may from timr to time at
it~
~tion ~+•~ivP, ancl :~fte~r am• sucfi wai~•er, minstate any or aj1 provisions j~ermf rerluirin3 sueh deposits, by notioe to 3fortXa¢or in writin~t.
11'),i ^ a~n• sach ~ra;trr is in effrct. ~~nrt~a¢nr shai) pay iazes. a~-:;^+Ants and it?surance premiums as he:ein elsewhere prm~ided.
2(/. ?~lortqa¢or chali rnrnj~l~- with the ~m~~~ionc oi ~ny le~aase, ii this mortqas~e is on a le.lsehold. If this modRaRe is on a condominium unit,
roortuacor si?all ry_•rform a11 of mort~at;ors ouli~ations urKaer the declar,~tion of c.?nclominium or master deed, the by-laws anti re~ilati~s of
t;cP crirxlomii~inm project and rnnstituent clocuments. \(ort~a~or ~urther eovena~ts that he and the as_caciatior: n~
nsibie ~nr t}?e operatinn i
o~ th~ cnndominium w;)1 ~~}.serve ail ef I:ie provisions of th~: sai.I (IPC~RiaiiOtl, and any ame:~cl?nen~ themto, arxl of the Condominiurn law of
thc c;~te, anrl will yr-r{o:rn all aSli~atimu therc~md~r; anci a failurP to do u~ which is rat cmred witl;in :SO days after natice gi~-en by ihe Mort
c>:~~.r i~ t!+e n}rntra¢or aml th-• v~9~i a~ux~iatian s1~a11 cunstitute a c~cfa~~~ ~?ncier this mort~a¢e. MortFtaAOr furiher specifically rnvenants, 1wt not
hy w-ay ~ limitaticm, that he arxl the associah:on wiI{ ehsenY• all of the provisions Qf said dec:laration of con~lamini:im mlatinR to irsara~ce
:Y~~•eralqe- i
Ll. ?11ortAaqor fnrther ~~-~ants anc~ a~?ees th^.t aC the rc^R~u•st of ?!(ortCaRee to fnmish a starxlard lennite bwid inssirin~ a~ain~t ~~amage
~
i~y i~~f~~ctatio» on the hu~:d~.~~s now ot hereafter l~x_~tcxi on the mcrtRaged Property. in sua~ ama.ats anc~ temu, aud v~ith such compans• as
appro~-~1 arx! r+v~nired Ly ~1ort¢astPe; and in tbe event ~torts~aqor dces not camply with tbLc covenant ~iortqaRee shail ha~e the same rirt~'•ts ~
to ~~biain 57fi1P. $S I~1Cll?'dMY! rnveraAe urttier eovenat,t it3 here.a~f. ~
?Z. That in the -•^Pnt diat lhis mort.¢a~ee is ~i~•en to scruw a cnnst ruction loan, faelurc im the part of thi~ \(oriKat~Cr or the \iortKagn,'s
e nniractor, arehitPCt, •~eers, or s»b-contractors to comply with the tenns oF the Corstnx~tion Loan Afir:ement of even ciate herewitt~,
~~~hich =c hy rcfen : ce .~.xatc~3lie.rein, shail, at ihe ontioo ef the MortqaRee, constitute a default hemunder.
M3. tf thc~ mortRa~eci ~remises is other than a one to four family dwel~i~F, ihr ~iort~agor co~-enants and aK~ ~~at !ie r~~ll, no! ~trr '
than sl?irty (:,0) days after the rrid of tt~e Fiscal y~ar, fumich u;..~ the Associaann a comple;e. arxl accwrate bal:tnce sheet and profit and k~ss
~tatemcnt mfk~ctinR the \io:~F;aqors liab'sliries as we'.1 as profit and loss for the fiscal yeat, and such batxnce shcrt and p;ofit arud loss sta.tr-
ment shall h.~ prepared by a certificd public aoco~mia:~t lieerw~d in ;be St3te of ilorida, aud shaL be certifiecl as beinQ correct b} such certi-
fied pnbiir ar.~oamtant.
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