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Home My WebLink About0275 l;. 7'u prrlunn, a,inply with aAd aLidn by each aad every Wpulation, ey;r~ti•wrnt, ~tiu~liliuu anU cv~ru.~ut ~n said promwory uutc :u~J Jcfxl set (u~li~. 7. In t!?e• cvcut It~c jurisJiction of lhe U. S. Uistrict Court thall be tn~okcrl by or ~gai~~st ihc I?~ort~;ni~~or w~dnr any ol t}~e provuiuiu o( t1?e Prderal liankrupt~y Act, suc~ u~tiun, whalher volunlnry or involuntary oo tl~epa rt oE tlro Mu~t~s~y;ur, slwll aulu~+wUc;ally, witl?out uutice, ao a•leryta U~r. iuuturity of all ruu~s of mouey l?erein dexrilxd apd set:urrcl uxl tt~e same dal) ttirrrupon I~cx.omo due atxl payoble (ortLwlth ks fuUy es if li~ suid a~r~•N:?le aw~u of ma~ey ware origiually sUpulatrc~ to be pajd oo such dale. 8. To deliver to atd Martgagc+e oo ~x hefore Afarc6 1Sth af e~ch year, tez rt~~eipb cvldencing tLepa yment o( all l:?wfully imposed t~ea f~r lhe piccr~liug c~leudur year. an~ to deL'ver to said rlod ~~agew~ recriptt evideucing d~e pnymrnt oE aU licns for puLlic in~prove~ucnts widua nin~:tY (YO) days after the suwe sball bec~nw duo and payai,le, s~x1 topa y or dischargo within ainety (fl0) days aJte~ duo dato. any arxl all Kovemmcnlal leviea thal may ba maJo on die u,vrtgaged piupn~ty, oa tt?Is nwrtgage or note. or in nny othe~ way reaulting iran llw Mort~age in:lebtedness securcd by t1~is mort?;xge; and IF this eorxiitian t~e not comQliod with arnl per(orawd. a.~id u~ortgagee may pay such :urn w sunns w~hich s6u1) becou~e part oE tlie deLt secw~d by this ~nortb~ge~ a~ ah•rU t~ear interrst at the de[ault rute provided iu aaid pmwissory aote p:~pabic uwnthly uutil paid or said Mortgagee may elect d~at aaiJ uwrtgnge debt thercupoa l~ec.»me due w~d payable forthwith. 9. ]t is further covenantecl and agreed br wkl parties that In tLe eveat of a suit beiag instituted to toreclose thls mortgage, the Mortgagoe shnU l,e eutitled to apply at any time pcndin~; such (oreclasure tuIt to lhe court haviug jurisdiction thereof for the a pointment o( a rec~iver ec • of all anJ sinti~uls~r the mortqaK~~l proprrly, and o[ all d~ reuts. incY~rncs~ pro[its iasues and revenucs thereof. irom w tweve~ wurce derivctl- anJ t}?rnupon it is liereby cuprcxsly coveaanted ~nd agreed lhat the court st?al~ foril~with appoint a roceiver of said mortgaqed property. al~ encl sinKular, and of surh ~ents, incomes, profits, is~ues aiK1 revenue then.~of. from wlwtsoever souroe derived. with the usual powers and duties of receivers in like cases; nnd such appointment shall t?e maJe by suc6 court ss a mattcr of strict right to the Mort~a~;ce, its sucti~es~oa. legal repnxr~tativcs or assiKnc. aiul without refere~ce to U~e ade+~uacy or in~clequacy af the value of the property hemby nwrtgaKed, or to the solve~~cy or insolveney of the rlort~;agor. ancl tliat such rent~ profits. Income. issues and revenues siw11 i,e applied by sucn rccei~cr iv U~ m~•nt ~,f the mort~„a8e indcl~tedness, costs anJ ct~arges. actiwniing to the order af sucb oourt. 10. 1f all or any part of the property or an interest t6erein Lt sold or transferml by morlgaAor witlwut mortgagees prior writtei~ coiuent, ridudiug (a) d~c creatia~ of a lien or encumbra~we subordina?e to this mort~age, (b) ihe cr~ation of a purchase money security iate~est for houschokl appl;ances, (c) a transfer by devise or desoeat, or by operatioa of law upc~n the dead~ of a Joint tenant. or (d) the grant o[ any lcasehold interest of three years or less not containing an oplion to purchase, mortgagee may, at ibop tioo. declaro all the sums secured by this inortga};e to be inuncdiately due nnci payable. Moirtgagee shall have waived sudi optia~ lo accelerate if prior to the anle or transfer. . mort~agec ancl the person to whoin the p~uperty is to l~c sold or transferrod rach agreement in writing diat t~e credit of such person is sat- isfactory to Mo~tgagre and lhat the interest payable on the sums sa,,,rod by tWs mortgage fhall be at such rate as Mort~aKee st,all rcquest. 11. Tl~at in the e~~cat the preu~ises 6ereby mortgaged, or any part thereof. shall bc eoademned and taken for public usP urxler the power oF eminent domain, the Mortgagee shall have t}?e dght to demand that all damages awardeJ Eor the taking of or damages ro said premises •haU I~e paid to the 1?~ort~agee up to the amount then unpald on this mortgage and at the optio~ of tl~e Mortgagee may l?e appliecl upon thc paynients last payable thereon. l2. The mortgagor birxls hLnself not to erect or pernut to be eroctecl any new twildings on the premises herein awrtgaqed or t~~ sdd lo or pcnnit to he added to any of the e:istin~ improvements t6eroon or make any chan~{es or alterations in saiJ improvements wh~ch materially ct~:,u~e the sa~ne or the usc thereof, without the written consent of the Mortgagee and In the event of any violation or attempt to violate this stipulrtion this mortKa~~e and all sums sexuretl herehy shall immediately become ~ue arnl collectibk at the option of the Mortgagee. 13. It is speci(ically agreecl that time is of the essence of thts contract ~nd that no waiver of eny obli ation hereunder or of the obliKation x•cnrcYl hereby shall at aoy time be held to be a waiver of du terrru hereof or of the inttrtunent ~ hereby. 14. lf foreclosure proceedings of any second mortgage or serond tnut deed ~ anY junior lien o~ any kind should be inctituted, d~e Mort- qa~;ce ~nay, et its oQtion~ immedwtely or thereafter declare this mortgage and the indebtedness secured he~eby due ancl payable forth~vith. and may at its option proceed lo foreclose this mortgage. ecu sub o~ated t~o the lient or liem and to the rights of o~wcegrs and hoklea ~~in or ~ecured hereby the Mortga ee is hereby d dch aodevery mortgage lien or wher incum~rance on tbe land described herein which is paid and/or satisfied in whole or in part out of the prooaeds of the losn deacribed herein or secured hereby and the respective lieus of said morttsages, lfEas or othtr incu~nbrances a1u11 be ~nd the same and each d them hereby Ls preserved and shal~ pass to and be 6eld by the Mortgagee herein as tecurity tor the indebtedness to the Mo~rt~agce herein described or hereby socured, to the same eztent that it would have been preserved and would have been passed to and been 6eld by the Mort~a gee had Jt been duly and requlady assiRoed, tranderred, set over and delivered unto the Mortgagee by aepnrace deed of asigmnent notwitlutanciing tLe faM that the same may be satisfied aad cancelled of reoord, it bei~?g the intention of the parties hereto that th~ same wW be satisfied and cancelled of record by tLe 6olders thereof at or abont the tlme af the reoording of tWs wortgage. 18. To pay all ud stngular the cads. charges and mpenses, Including !aw~er's fea, reasonsbly incurred or at any time by the Mort- v,agee, because of the failure of the Mortgagor w rform, complp wit6 aod abide by each and every the atip~~ons, a~eements, oon~litioiu. u er:•i covenants of said promissory note and thls d . or either. aod evcry such payment thall bear iaterest from date at the default rate pro- vidc~cl in said promistory note. ' 17. When any unouat ofma~ey to be patd by the Mortga~or t~ the Martgagee uader the terms 6ereoE ~all be in default, or s6onW t6e ~I Rinrtqagor default in any of the other term~, prrvisions or conditions of thls Mortgage. theu and In that cue tLe Mortgagea shall have t6e riKht, wlthont notice W the I?lortgagor, to oollect and receive from any tenant or lessee af aaid mort~ged prunises We renb. is~es and profits of the real estate 6ereby mortgaged and the Improvemenb thereoo, and to give p reoeipts and aoquittanoa therefor. and aker PayioS a11 oomm~ssions of any rental agent rnllectinR the same. and any reaaouabk att ~ fees and oti~er neceasary eipeasa incurred in . collecting aame to apply the prooceds d such oollec~ticrns npon anp indebtedness obligaHon or liab[lity, of the Mortgagor hereunder. The ~Kht grauted t~e Mortp,agee under this paragrap6 shaIl be In addition to, and s~aU not limlt or restrict, any other dght or rights granted the Mort~{agee in t6is Mortgege. E ~ lii. If dic Mortgagors at the time of uuking this Mortgage or t thereto tike out L'fe insunnce decignating tbe Mortgagee herein as beneficiary with a oompany approved by the Mortgagee or asai~~d~d to t6e Mort~gee for t6e purpose of sec~ring the mortgage ~b~an i hereby secured then the Mortgagee s}ull have the dg6t to pay anp reu~ium aocruing ~mder uid policies. and all soms w e:perxled shaD be f added to and ~ecome a part of the prind~J indebtedness secured in twelvee~ ual contecutlve mon 1fmen b, t~e Eirst rrwn Mortgage and s6a11 be paid by tbe Mortgngor to the Modgagea ~ duc under this Mortgage in the fir~st «~1~ endar ma~th followin theye~ eadlng of sald ~ Suc6~su~ o~ ia addidoa to d~e monthlY PoY~ent S p e:pended to bear interest at the rate I at which interest is paysbk upon said principal Ir~debtedness and the lim of this Mortgage shaD ezteod to and secvre the sums so e:pended ~ to~ether with interat thereot~ as 6ereinbefore provi~led. 19. At mortgagce i option, togeth~~er with ~nd in additbn to the monthlypa yment of~ pdncipal and interatpa yable uncler the tem?s of the ~ notc p red hereby. INortqagor shall pay to Mortgagee each month until saW note it fully _paid, onatwelhh ( l/12) of a sum eyual to the annuat remium dne for fire, eztencled coverage, and other hazard incuranoe includin flood inauranoe, coverin~ the mort~;aged property pIus ta~ces and assessments nest due on the mortq~ge~ property (all as estimated by Mortgagee) less aU sums already p~id therefor, and to be ~ c~i~~ded by the mimber of months to eJapse pdor to the date when such t~es and as~essmenb shall becorne delinquent. Said aums shatl be ~ held by 1lfortqa$ce in trust or credited to the principal of the loan, to pay satd tnsura~e, t~es, ancl assessments and s6all be applied on the payment thereof when due. Any ezoess held in tnist by MortgaRee whea taId ban b paid in full s}wD be paid to Mortgagor. or hts assiRns a or persoaal representatives_ In d~e event of a deEsult or foreclosure, sald surro held in tnut may be appliecl on any oosts of damages sustaIne~ € in connection with the collection of the note secured hereby whether by suit, foreclosure, or otherwise. Morty,agee may from time to time at ~ its ~?ption waive, and after any such waiver~ relnstate any or all provisions bereof requiring such deposifa,-by ootjce to Mortga qor in writjng. ~ ~t'hile any such waiver ts in effect, Mortgagor s1~aA pay ta~s, assessments and insurar~oe premiums u herein elsewbere provided. ~ 20. Mortqa or ahall oomply with the ~rovisions of any lease, if this mortgage ia on a lease6old. If thia mortgage is on a condominfum tmit, mortp,agor aha~ perform al) of mortqagor s d~ligaHoni urider the declaratlon of aadorniniwn or master deod, tLe by-laws and regulaHaos of ' the conclaninium project and coastituent documenb. Mortgagor further oaveoants that he and the associaHonresporuible for the operati~ of the oondominium wilf observe all of the provisioos of the said declantion and ury ameadments thereto, and d t6e Condominium law oE ~ - the state, and will perform al) obliKations thereunder• and a fail~ue to do so w~ic6 B aot cnred within 30 days after nottoe gtven by the Mort- ~ 43q~ mortAagor and fhe said asfociation ahalf consHtute a clefauk unckr this mortgage. Mortqagor fiuther speeifically cm~enanta. but not ~ by way of limitation, that he and the auoclation will obaerve all of the provislorb d s~Id declaraHan of o~ndomldum relaUnq to iiuuranoe I ~ a~verage. F, ~ 21. MortgaRor further covenants and aqrees that at the re~uesc of Mo~s~aRee co fumW, . standard cetm~ce ba,d i~~tnA against damage ~ by infestation on the bulldin~s now or 6ereafter locate~ on the modKaBed P~ope*tY. tn n~ch amounb and temn, and witb sunc ~ompany as approved arxl requlrad by Mortp,aqee; and in the event Mortgagor dces not oomply with this covenant Morty,agee shaU have the same righta ~ to obtain same as insurunce ooverage under covenant ~t3 bereof. ~ 22. That in the e~~ent that this mortgage B gl~•en to secure a constnicUon ban hilure on the put af tbe Afortga or or the I?io~tgagor's ~ contractor, architect, engineers, or sub-contracton to comply wifh t6e temu of t~ie Constructlon I.oan A~ree~ne t~ even date herewith, ~ ~vhich i~ by reterence incorporatcd hercin, shall, at the option of the Mortgagee. constitute a default hercunder. ~ ~ ^3. I( thc mortqaged prernjses 1s other than a one to four family dvrellintt. the l~tortgagor covenanb and agrces that he will, not later ; U~an thirty (30) days after the enJ of the fiscal year himish unto the Association a compkte and accurate I,alance sheet and profit ancl loss ~ st:~tement reflectinR die I~~ortgagor's liabilitica as we~ as profit erxl loss for the fiscal year, end such balancc sheet and profit and kxs statc- ° u~Pnt shall be prepared by a certified pnblic socountant lioeased in tbe State of Flodda. and shaU be certified as being correct by such certi- ~ ~i~yl public aooouotant. . ~ r'~kx 2~6 `~~E 275 . _ _ S : ~ . ~ °-.rs~'S~C % 3,S ~a,.,~ ~ £..~w'+". : ''~p`~'~ ~ _ .a . ~ ~ .n . ~~LG)T-~~~ _