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8. To perform. canply wit6 aad ablde by a~ch aod every Wpulation, agroeaiea~ coaclitia~ uw covenant ia saict prom~swry note wd deed
at forth.
7. In the event the )urisdlction of the U. S. D~Mct Court s6ap be Invoked by or ~gaiwt tbe Matxagor~~under any of tbe provluau oE ths
Faieral Baakruptcy Act, :udi actiun. whether voluntary or Involuatury on t6epa rt of tl~e Mortga8or, aliaU autoauticaUy. witbout ootice. ao-
cekrato tl~c maturity of all sums of money 6erein described aod ~ecured~ and the same :hall thereupoa bcrar~e dua ud psyabk forthwitl?
u f~Jly as if the said ag~egatc sn~ of money were aiginally Wpdtoed to be paid oo such date.
8. To doliver to sdd Matga~oe4 au a befors Marcb 15tb of o~ch year. taz reoeipts evideacing thepa yment oE all lawfully ia,poaal taia
for the preeediag caleudac year. aad tu delive~ to sald Mo~ee, receipts evidencing tbe p~ya?ent of W lieas for publie improve~n~nts vinthin
ninety (fl0) days after the same shaU become Jue aadpayab , aad to~ay or dtscharge wit}~ta ninety (90) da~s dte~ due data, any and all
go~°cm~:iruta! leti~ies that nu~y be mst~le on the inortgag^_~ Frog~rty. oa mortKage or note, or in tay other way resulting from the I?~ortgage
inclebtedness secund by dus mort}~,age; and if this coaditi~ be not comelied vv~th aud perforu~ed. said mortS88~ ~Y PaY such tum w sums
which shall become part oE the deet urured by thLs moirtgage, aad shaU beu interest at the default rate provided in said promissory note
payable uwuthly unW paid o~ said Aiort~;agae may elect that said mortgago debt thereupon becane due aad payabb forthwith.
U. It is further cor~eaanted and agroed by ssid ptrti~ tLst In the event of R suit beiog iastituted to toreclose this mortBaKe. the I?tortgagee
shall l~e e~tided to apply at any time pe~ding suc6 forecloavre suit to the court having jurisdictioa thereof for the apjKx11D~II1CDt OF a receiver
of all and singular the mortgaged propcrty. and of all tl?e rents, itxomes. pcofib, issues and revenues tLereof, from whatsoever source derived•
and thereupon it is hereby exp~e.ssly covenanted a~xl agreecl that the court shaD forthwith appoint a rooei~er of saicl mortgaged property. al~
and singuWr, ancl of such rrnts, iacomes, profits, iuues anci re~rnue there~, fran whatsoever souroe deirived. with the usual powen and
duties of receivers in like cases; and such appointment shaU be made by such court as a matter of strict rigt?t to tbe 11lortgagee. its successors.
legal rcpresentatives or assifins, and without refercnce to the ade~iuary or inadequacy of t}?e value of tbe property hereby mortgaged. o~ to the
soh~e~~y or insolvency of ll~e ~tortCagor. ancl that such rent, profits. income, issues aad revenues shall be applied by such receiver to the pay-
ment of the mortKage indebteclness. costs and charges. accurding to the order ~ stleh oourt.
10. If a11 0~ any part of !he property or an interest thereia is sald or trancferred by mortgagor without modgagee's prior writteo coatent~
eccluding (a) the creation of a lien or encumbrance sutwnlinate to this mort age, (b) t6e creatioa of a purchase money security interest for
household applianc~c, (c) a transfer by devise or descent, or by operetioa of~w upoa the death of a joint teaant, or (d) the graut of any
leasehold iaterest of thrce years or less uot containing an option to purchase, mortgagee may, at itsop tion, declare aU the sums secuied by
this mortgage to be immed'iately due and payable. Mortgagee shall have waived such aption to accelerate if, prior to thr sale or transfer.
nwrtKag~~e and U~e persoo to whom the property is to be sold or trensfe~red reach aqreemeat in writing that the credit of such person is sat-
isfactory to ~tort~a~ce and dtiat the interest payable on u~e sums secumcl by this mortgage s6all be at such rate as 1ltortgagee shall request.
11. ?hat in the eveat thc premises hereby mortRagecl, or any part tbereof. shall be oa~demaed and taken for public use under the povvcr
of eminent doinain, the Mortga~;ee shall ha~•e the ri;
ht to demand that all damages awarded for the takiog of or damages to said premises
sha11 bc paid to the Mort~aqee up to the amount then unpaid on this mortga~te and at the option of the Mortgagee may be applied upon
the pay~nents last payable theroon.
12. The modlcagor binds himself not to erect or permit to be erected any new buildings on the premises herein mortgagecl or to add to
or pemut to be added to any of the esisting improvements thereon oc make any d~an~es or alteratioro in saicl improvements which materially
chanRe the same or the use thereoE, without the written comcat of the Mortgagee. and it~ tLe eveat of any violation or attempt to violate thu
stip~Jation this mortgage and all sums secvred hereby ahall immediately become due and oollectibk at the option of the Mortgagee.
13. lt is spec~ifically agre~d that time is of ~he essence-oE this rnatract and that no waiver ~ any oLligation hereunder or oE the obligation
srcurcd hereby shall at any time he held tQ be a v~ai.seF of the tertns hereof or of the Lutrument secured hereby.
14. If foreclosure proceedings of aay second mortgage or second tnut deed or junior lie~ of a~ry kind should be instiruted, the Mort-
gaRec may, at its option, iminediately or theresfter dedare this mortgage and the ind~tedness secured hereby due and payahk forthwith, and
may at ~cs or~ion procced co forecloae chts morcgage.
15. '1'o the eztent of the udebtedness of the Mortgagor to the lliortgagee described herein or secured hereby the Mortgagee is hereby
subro~ated to the liea or lieas and to the rig6ts of the owcers and holders thereof of each and every mort8age lien or otl~er incumbrance on the
land described herein which is paid and/or satisfied in whok or in part out of tbe proceeds of the ban described herein or secured hereby
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1 1 be and the same and each of them hereb
y is preserved and st~al~
pass to and be held by the MortRagee 6erein as security for the indebtedness to the Mortp~
agee herein described or hereby secure~l, to the same
e:tent that it would ha~•e been presen•ed and would have been passed w and been held by the MortRaqee had it been dnly and reqularly
assifined, transfemd, set over and delivered unto tLe Mortgagee by separate deed of assignment notwithstanding the fact that the samc may
be satisfied and cancell•d of record, it being the intention of the parties hereto that the same will be satisfied and cancelled of record by the
holdeis thereoE at or about the time of tLe recording of this mortgage.
18. To pay aU and sin~ilar the costs, cbarges and ezpenses. including law~eis fees. reasonably incurred or paid at any time by the ~fort-
qatcee, because of the failure of the Mort~agor to~e
dorm, complY with and abicie by each and every the stipulations, ageements, conditions,
anci covenants of caid promissory note and thLc deed, or either, and every sucL p~yment shaU bear interest from date at the default rate pro-
vided in said promissory note.
~ 17. When any amount ofmo~y to be paid by the Mortga~or to the Mortgagee under the ternu hereoE shaD be in default, or shouW the
~ Afortgagor default in any of the other temns, provisions or conditioiu of thLs Mortgage, then and in that cace the MortAagee shall have the
ou
E rip,ht, K~thout notice to the Iliort~;agor, to coDect a~d receive from any tenant or lessoe of said awrtgaged premises the rents, issues and
6 profits of the real estate hereby mortfiage~d and the improvements thereon, and to pve pro~er receipts and acqnittances therefor, and after
pa}n nR a11 commissions of any rental agent rnllectinR the same, and any reasonabk attorney s fees and other necessary ~pec~ses incurred in
~ collecting same to apply the proceecls of snch collectiont uport~ any indebtedness, oblip,ation or liability. of the Mortgagor hereunder. Tbe
rip,F~t granted t~e Mortp,agee under this paragraph shaD be in addition to, and shaD not limit or restrict, any other right or dghts Rranted the
~ r~ortAagee in this Mortgaqe.
18. If the I?lortRagors st the time af making this Atortgage or subs_yueat thereto take out life innuance designating the Mortp,a~ee herein
as beneficiary with a chmpany approvecl by the biortgaqee or assigns policies to the Moctga~ee for the purpose of sec~uing the mort~a~ee ban
hcrehy secured. then the I?iortQaqee s6a11 have the riKh~ to pay any premium aocruing nnder said policies, and all sumt so expeaded shall be
added to and become a part of the prinnpa1 indebtedness secured by this Mort~Cage and ahall be paid by the Asorlgagur !o thc :~iortgasee
in twelvee~ ual consecvtive month}y initallments, the first monthly installu~cnt to he paid as a part of and in addition to the monthly payment
d~e under th~s 1ltodga~e in the first calendar mooth following the expendtn}~ of said sum. Such sums so ~pended to bear interest at the rate
at which interest ii payable upon said principal iodebtedness ancl the lien of this Mortgage s6a0 atend to and secure the sumt so e:pended
toRether with interest thereon as hereinbefore piovided. ,
19. At mortp,agee's aption, together with and in addition to the monthlypa yment of nnc~pal and interestpa
yabk under the tern~a of the
note secured hereby, MortAagor shallpa y to MortRagee each month until said noh isfu~y pa~id, one-tvrelhh (1/12) of a sumeq nal to the
annusl premium due for fire. eztended covereRe, and other ha~ard iiuurance induding flood insurance, oovering the uw~rtp,aged Prope ~
plus taxes and a~ssments ne:t doe on the mortKat{ed PcopertY (aD as estimated by Mortgagee) kss ail sums already paid therefor, and to
divided by the number of months to elapse prior to the date when such ~es and assessment~ shall become delinquent. Said sums shaD be
held by I?1ortQagee in trost or credited to the pTincipal of the loan, to pay saW 6uurance, tues. and assessments and shaA be applied on the
PaYmsmt thereof wl~en dne. My exoess held in tnut by MortFAKee when safd ban is paid in fWl shal) be pafd to Mortgagor, or his assilgas.
or personal representatives. In t6e event of a default or fore~cbsure, sald su~ held in tr~ut may be spplied on any casts ef damages su~ined
in connection with the collection of the note secured herehy whether by snii foredaaure, or otherwise. Mortgaqee may from time to tiv~e at
itcop tion waive, and after aay such waiver, re[nstate any or aD provisiau ~ereof requiring such deposits, by notice to Mortgaqor in writing.
~ ~Vhilr any such waiver is in effect, Mort~,agor shall pay tues, assessments and iasuraooe premiums as herein elsewhere provided.
20. MortgaQOr shall comply with the ptovisions of any lease, if this mmtg~ e is on a kasehold. If t6is mortRaqe is oo a ca~dominium unit
~ mort~a~or shal) pedorm all of mortp,agors obligatlons under the declaratian ~ ooodominium or master deed, the by-laws and maulations o~
~ the conciominium proiect and cotutituent doruments. Mortqagor h~rther covenanb that 6e and tLe sssociatloaresponsibk for the eperstion -
of the condominium wiU ohserve aIl of the provisiom of t6e said dcclaratiao and any ameodments thereto. and of the Condominium law of
~ the state, and wiD perform aD obli~catioas thereunder; and a fail~ue to do so w~Ich is aot c+sred within 30 da~s after ratice given by the Mort-
aa¢ee to the rrMrtgaKOr and the said association shal) constitute a defau~ nnder thtt mort~a~e MortgaRor further specifically covenants. but not ~
~ hy wny of limitation, that he and the association will observe dl of t1~e provisiaos of said deciaration of oonciominium rdatlnR to insunnce y
~ coveraRe.
~ 21. Mortgagor further covenants aad aKrees that at the request of MortKagee to fnmLsh a standard termite bood i~rinR aqainst damage
by infestation on the buildings now or hereaker located ~ the mottKaged property, in s~ch amounts and temu, aod with such company as
~ approved and rer~uired by Atortgagee: and in the event Mbrtgagor daes not comply wtth this covenant MortRagee shaD hav~e the aame rig~b
te obtain sanw ss insurance cavenSe under cavena~ ~3 beeeof.
22. That in tl~e evcnt that t}us mortgaste is given to secure a constn~ction loan. failure an the part of the Mortgapor or the Mortgagorr
contractor, architect, enpjneen, or sub-cantractors to comply with the terms of the Constniction L.oan reement of even date herevvith,
~vhich is by refere~e incorporated herein, shall, at the option of the Mortqagee, oo~nstlh~te a deladt ~er.
23. If the mortgaged premises is other than a one to four fami}y dwellinA, the Mort~cagor owenanb and aRrees that he will, not later
than thirty (:i0) days after the end of the fiscal year fumLsh unto the Asaoriation a camp]ete and ~ocurete balance sheet and profit and ]oss
statemcnt refkcting the Mortgagor
s liabilities as wel~ as proEit and bss for the fis~cal~ea r, and suc6 balance sheet and profit and 1a6s statc-
meat shall be prepared by a certified public aocountant Ucensed in the State of Florida, and sha1) be certifted as being corract by s~ch certi-
fied ublic accamtant.
p s~m:2~ ~?cf 4?~ .
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