The URL can be used to link to this page

Home My WebLink About0032 . ~ - G. 7'o pcrform. comply with aad abicle by o4d? and avery ttipu4tion. agrc~en~ent. conJitioa and cu~ciwnl in said proiuwu~y uutc and deecl srt forth. 7. In thc event the juris$ictiou oi the U. S. District Court shall be invukecl by or against tl?e I?lortgagor~~wxier any of the pro~~isio~u oE the r'ecieral 13anl:ruptcy Act. such action~ wl~ether voluntas~r or invole~ntary on thapa rt of the Mort~agor, shall sutanatically. without cwtice, so- cx•ivrate d?e a~aturity of nll sunu of nwn~y herein described a~xl scrurod arxl U~e same shall thereapon become due and payablo fotthwith zu fully as if tt~e said ap,gregate sunu of money were originally stipulatet~ to be paid oa such data. 8. To deliver to sstid Mortgagee, an or before \tarch 15th of each year, tax receipts evidencing thepa yinent of all lawfully imposed ta~ces for the prececling calendar year, auJ to deliver to said Mortgagee, reeeipts eviJencin8 ~ PaYu~ent of all lieus for publie improveweuts within ~ ninetr lt0) d.ys after th~ saa~e shall beoome due and Qayable, and to pay a dL~c6arse with~n ai~et~? (90) days dter due date. any~ and all ' govemmental levies d~at may ba mada on the matgaged P~opertY. aa tlds mortgage or aote. or In any other way resulting from the Murtga8e indebtedoess securod by this~ortgage; sod tf t!?ia oa?dition be not complied with and pedomx~cl. atid mortga8ee maY PaY such mm or ~rns whic~ s6a11 becou~e pait ~f the debt ~c~ad by tl~S mortgaga, and ahall bear iaterest at the defauh nte provided in said promicso~y note pa.•able inonthly until paid or said I~tortgagoe may elect that said mortgage debt t6ereupon become due and payable forthwith. 9. lt is further covenaated and agreed by said pulles that ia tbe eveat of a suit being irutituted to foreclose thu mortgage, the Mortgagee shall be entided to apply at any tune pending such foroclosure suit to the oourt having juriuiiction thereof for tl~e appointment of a receiver ~ of aU and singulai the mortgaged ~roperty. siid of all the mnts. in^omcs, profiits, iu~ies and revenues thereof, from whatsoever sourcc derived• 4 and thrreupon it ic hereby expressly covenanted and agreetl that the court shall Eorthwith appoint a reoeiver of said mortgaged pmperty. al~ ~ and singular. and of such rents, incomes, profits, issues and re~•cnue thereof, from whatsoever source derived. with the asual powers and ~ cluties ~ receivers in Uke cases; a~xl such appoint~nent shall t,e madc by such court as a matter of strict right to the Mortqagee, its svecesson. y legal regresentaNves or assiAas, and without referec~ce to the ade~~uacy or inadecluacy oE the value oE the property hereby mortgaged, or to the sol~~ency or insol~•ency of thc Mortgagor, and that such rent, profits, income, issues and revenues shall be appliecl by such reteiver to the pay- ment of the iuortFtaRe inckbtedn~. costs au.l charges, accordiog to the order of suc6 oourt. 10. U all or any part oE the properfy or an intemst therein is sold or transferred by mottgagor without mortgagee's prior written rnasent, ~ ezcluding ( a) the creation of a lien or encumbranoe subordialte to this mos! ~c, ( b) the creation of a purrhase money securiry interest for : household appliances, ( c) a transfer by derise or descrnt, or by o~peration of ~w upon the death of a joint lenant, or ( d) the grant of any i leasehold interest of three years or less not containing an option to purchase, nwrtga$ee may, at itsop tioa, declare sIl the sumc seeured by this mort~age to be immediately due and payable. blortKagee sha11 have wai~~ed such option to acceelerate if. prior to the sale or trancfer, ~nortga~ee and the person to whom the property is to be sokl or transfernd reach agreement in wriHng that the cmciit of such perwn is sat- icfactory to MortgaRee and ihat the interest payabk on the snms securecl by this moriga~e shall he at such rate u 1?~ortg~agee shaA request. 11. That in the event thc premices hereby mortgaged, or any part thenrof, shaA be condemned ami tal:eo for public use under the power of c~ninent dom:+i~, ihe Mortga~cc shall have the riRht to demand that all damaRes awarded for the taking of or damaqes to said premises shall be paid to the Mort?~aRec up to the amo~mt then unpaid on this mort~age and at the option of the I?tortRaRee may D@ S~lit'[~ upcm the pay~nenlc last payable thereon. 12. The nx?dgagor binds himself not to ereet or pennit to l~e errc~teci any new buildings on the premises herein mortRaRecl or to adil to ; or pern~it to l~e added to any of the e:isting improvements there~ or make any chanRes or alterations in said improvements which materially : chanqe the same or the use thereof. without ihe writien consent of the MortAaSee, und in the event of any violation or attempt to violate thic re ; stipulation this mortQa~e and all sums secured hereby shall immediately bc~come due and colk~ctible at the option of the 1ltortKagee. = i 13. It u specifical}y agreeci that time is of the essence of this contract and that no waiver of any obli~ation hereunder or of the obliKation .trurecl hemby shall at any time be held to be a waiver of the terms hereof or of the instrument secured hereby. !4. !f foreclosure proceedin~s of any second mortga~;e or second tnut deed w any junior lien of aoy kirKl should 6e institut~yl, the Mort- Ka};~*e may, at its option, immedistely or thereafter decLlre this mortgaRe and the indebtedness serured hereby due and payable fort~with, and m~y at its option procced to foreclc~se this mortp,aqe. l5. To the eztent of thc inclebtedness of thc \fort~a,or to the ~[ort~;aXee described herein or sec:ured hereby the rfortgaqec is hereby subro~ated to the licn or lie~u and to the rip,hts oE the owners and holdcrs thereof of each and every mortRage liea or other incumbrance on the land described herein which is paid and/or satisfied in whole or in part out of the proceeds of the loan descril~ed herein or secumd hereby and ihe respecKive liens of said mortgaRes, liens or other incutnbrances shall be ancl the same and each of them hereby is preserved-and shali ' pa_cc to aad he held by the MortAa~ee herein as security for the inclebteclness to the MortRal¢ee herein described or hereby secured, to the same ~ ~a extent that it W~ouW have been pmserved and would !?ave been passed to and been held by the I?iortNCaKee had it been duly and req~larly assig~xd, transferred, set over and deli~•ered unto the ~iortga~ee by ~parate deed of assignmeat notwit}utanding the faM that the same may be satisfied and cancelled af record, it beinfi the intention oE the parties hemto that the same wi11 be satisfied and ca~elled of record by the hoklers therrof at or aba~t the time of the reconiinR of this mortgaKe. i ' 16. To pay all and sin~~lar the eostc, charges anc! eTpenses, ineludin~ law er s fees, reasonably incurted or paid at a~y t ne Ly the \~ort- ` ' KaAee, becattce of the failure of ihe ~ltorttcaGor topc rform, comply with anc! abide by each and every the stipulations, aRreements, conditionc, i and co~rnants of said promissory note and this decd, or either, and e~~ery such ~yment shal) l~ear interesi from date at the default rate pro- „ded in said promissory note. j 17_ ~Vhen any amount of to bc paid by the Aiortgagor to the ~iortgagee under the terms hereof shall be in default, or should the ' \turt~aRor default in any oE th~er tertnc, provisions or conditions of thit MortgaRe, then and in that case the biodgagee shaU have the , riAht, without notice to the ~tod~;agor, to rnllect and receive from any tenant or lessee of said mortgaKed premises the rents, issues and profits of ihe real estate hereby mortgaged and the improveinents thereon, and to ppve pro~er receipts and acquittances therefor, and after payinfi all commissionc of any rental agent collecting the sarrk•, arxl any reasonable attorney s fees and other necessary ~penses inrurred in collertinR same, to apply die procee.~ds of such rnilections upon anv indebtedness, obliRation w liability, of the 1liortgagor hereunder. The , riqht Rranteci the ltort~aRcx nndFr this parafiraph shall l~c in adc~ition to, and shall n~ limit or restrict, any other right or rights ~ranted the \tort~a,Pe in this ~toriscasce. 18. If thP 111ortAagors at the time oE makin~ this ZiortRage or subsequent thereto take out life insurance desiqnating the 1lioitgagee herein t, beneficiary with a rnmpany approved by the ~tortftaqee or assi~s policies to the Modgagee for the purpose of securinQ the mortga~e loan hcreby secured, then the I?1ort~aRee shall h:.ve the rig,ht to pay any premium accruing under said policies, and all sums so e:peTxied shall be added to and hecome a part of the princ~ipa1 indehtedness secared by this ~ltortp.age and shall be paid by the 11~ortqagor to the 11~odgagee in twehr em~al consecutive monthly installments, the first monthly installment to be paid ac ?~,art nf anci in additicm to the moathly pavment due under this ~tortRaee in the fi:st calendar manth followinR the expendinq of said sum. Such sumt so ezpended to bear interest at ihe rate at whieh interest is payable upon said prineipal indebtedness ancl the lien of this MortgaAe shall extend to and scrure the sums so t:pended tc~ether with intere.ct thereon as hereinbefore provided. 19. At mort~aAee s option, together with and in addition to the monthly payment of principal anci interest payable ~inder t6e ternu of the note securecl hereby, 1ltorteascor shall pav to ~iortuaRee each n~onth until said note is fully paid, one-twelfth (1/12) of a sum er~ual to the annual premium due for fire, extended coveraqe, and other haTard insurance includinQ floo~i insurance, coverin~ the mortgaAed property, pliu tazes and assessments next dne on the mortRaged property ( all a~ esti~natecl by Mortp~agee) ]ess all surrss already paid tAerefor, and to be di~~i~le~l by the numher of months to elapse prior to thc date w•hen surh t:uces and asse~nents shall become delinquent. Saki surr~s shall be held by AlortgaQee in trust or creclited to the principal of the loan, to pay said insurance, tazes, and assessments and shal) be applied on the payment thereof whcn duP. Any escess held in trust by \iortza~ee when said loan is paid in full shall be paid to ~iortQagor, or his assiRns, • or personal repnsentatives. In the event of a default or foreclocnre, sai~l sums held in trust may be applied on any cbsts of damages sustained ~ in connPCtion with the collfrtion of the"notP secnred herehy whrther }:y suit, foreclosure, or otherwise. Morts[aRee may from time to Nme at itc option W11~"P, and after any such ~~:~icer, minstate any or aU pro~isions hereaf requirinR such deposits, by notice to 1ltortRaqor in writinR. x ~l'hilP sn.~ snch ~~~ai~•cr i~ in ef:crt, ~iort~a¢or shall pay ta~PS, ~ssessments and insurance premiums as herein elsewhere provided. 20. Mort¢aKOr shall rnmply v~~th the Qma~~ions of any lease, if this mortQaQe is on a leasehold. If this mortqaRe is on a condominiuro ~t, mortRaAor shall perform all of mortQagprs oUligationc-unJer the declaration of condominium or master deed, the by-laws and reEtulations of the coriclominium project and constituent documents. I?tort~aycor further covenants that he and the acaociation res~ nsible for the operation ~ of ihe rnndominium will ohserve all of the provisions of the said declaration, and any amendments thereto. and of the Condominium law of ~ the state, and wiD perform all obliAations thereunder and a failure to do so which is noi cured within 30 days after notice Ri~•en by the Mort- ~ ca¢cr, t:i the mortQauor and the S~id acsociation shall constitute a defauk under this morttCaRe. Mortl~caagor further specific~ally covenants, but not ~ hy way of limitation. that he and the acs~ciation wi1! obser~~e all of the provi~iont of said declaration of condominiom relatin¢ to incurance ~ <nv~rage. , ~ 21. 'ltortRa~or fnrthFr covenants and a~ereex that at the rcRuest of MortRagee to fumish a standard termite twnd insurinR aqainst damage hy infestation on the buildin~s now or hereafter located on the mortgaged property, in such amounts and temu, and with snch company as approvcd and rec~ezired by \tortAaqee; and in the Pvent AiortfiaRor dces not comply with thit covenant MortQaRee shall have the same riAht~ ~ to obtain same as insurnncw coveraRe under covenant ~3 hereof. ~2. 'I'hat in the event that this mortqagP is ~i~•cn to secure a const ruction loan, failure on the part of the !1(ortRaRor or the Mortgaqor s ~ ontractor, architect, enRineers, or sub-contractors to comply with the temu of the Constmction Loan AQreement oi even date herewith, ,~•hich is by reference incorporatecl hemin, shall, at ihe option of the M ortRaqee, constitute a de(ault hereunder. ?3. IE the mort~La~ecl premiscs ic other than a one to four family dwcllinQ, the I~iortgaqor covenants and agrees that hc will, not later thau thirty (30) days after the end of the fiscal year, furnish unto the Association a complete and aecurate balance sheet ancl profit and ]oss ~ ~tatement reflertinR the Mortgagor's liabilitics as wrll as profit and loss for the fiscal yea~, and such balance sheet and profit and loss statc- m~nt shall F~e pmparcxl by a oertifi~) rublie acconntant licEmsed in the State of F7orida, and shall be certified as beinx correct by such certi- ~ fied public accountant. r~ r ~ . E-:~ ~54 ~A~:~ 32 ~ ~ _ - - ~ - ~ -