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Home My WebLink About0399 (3. To perforrn, canply with and ablde by each ud every ~ulrtion, agrcv~n~eat. coudit~on and oovenant in Ssld prwnusory uote ar?d de~ set forth. _ 7. In the eveut tho juriuliction ~ the U. S. !~istdet Court s6a11 be iavol•ed by ory~ ainst the Mortgagor~~urnler aay of the provisionc ot ths b'ecleral Ilankn~ptcy Act. such aclio~, whether voluatary or tnvoluntary oa thep~ of t4e I?ton~;agor, shaU automatically. without r,o~ce. ao- celerate the u?aturity of all swus of nwaey heretn described arai sec~ued and tbe same shall thereupon beco~~?e due anci payable forthwit6 u fully ws lf d~e said aggmgate awns of monay wera origlnally ttipulate~ to be paid oa nu;L date. 8. To deliver to sdd Moregagee oo cx befo~b 1?tarcb 15tb of e~ch ycar. tu reaipts evideacing thapayineat of all lawtully imposed tua for the rec.rding calenJar year. ancY to deliver to sald Mort~agee, receipts evldenci~~g tbe p~yn~eat of aU liens for puUlic improvements within niaety ~~0) daya aftec tbe seia~ shall becon~e due and payable. and topa Y~ d~i8e p~Y ~Ys dtcr due Jate, any and all govemmcntal levies t},at may be made oa the mort8aged PropertY. on this mortgage or aote, or in wY o~ way resulting Irom tho i~iortgage indebtedness secured by this mortgage; and if this coodition be not com ed with and performed. wid mu~s~eo may par ~uch rum o~ swns which sliaU become part of t6a debt secured by U?it awrtgage, aod shall ~ intereat at the de(ault rata providod in said promitwry? note p.lyablr monthly until paid or said Moctgagee may e{act that said mortga~e debt tbereupon become due and payabla forthwitb. 9. It is further rnv~nantod wd agreed by aatd putia tl~at ia the event of a~it being instituted to forccla~e thi: modgage, the Moct8a8ee . _ i - „ - . . _ - aua?i ~ ruui~eti iv a~~iy ~a auy uuw y~iwiu~K suu~ i~?tcaauou~o 5uia uw iuo wuii iu.u:g j:uu:::::i;:;w w:::w; c::~ c-r a:_._::_: - of ull aad singular the mortgaged prope~ty. and of all tlie rents, inromes. profits~ isaues aad revenues thereof. fmm w~atsoever source derivc~l~ and thereupon it is herebY expreuly covenanted and ag~aed that t6e ~ou:t shall forthwith appoint a receiver of uW mortga8~ P~~b. ~ and singular. and of such rents. incomes pro[ita, issues and ievenue lhereaf, from whatsoever souroe derived, with die usual powers and duties of receivers in like cases; and suc~ appointment shall be made by ~eb oourt as a matter of strict rig6t to the I~lortgagce, its successors. legal repcesentatives or assiRns, and without reference to the adequacy or inidequary ~ the valua ~ the property hereby mortg,aged, or to the aolvenY or iasoivency of the Mortgagor. and that such rent, profits, incam~ issuea and re~couas:hall be applied by such receiver to the pay- ment of the mortga8e indebtedness. casts and charges, accordIag to the ader af soch oourt. 10. If all or say put of the property or an interest theroin h sold ~ trantferred by mortgagor witlwnt wortga8ea's Prior written consent, i racludin (a) tLe crestion of a lien or ~cumbnnoe subordinate to thism~rtgage, (b) the creatwn of a purchasemonay seeu~ity interest for ho~ applianc~es, (c) a transfer by devise or descent, or by operatioa aE law upon the death ~ a ioint tenant, or (d) the grant of any leasehold iaterest of three yeais or kss not containiug aa optioa to purcLase. agee may. at ib o p t iaa, declare all the sums secural by this mortgage to be immediately due and payabk. Mortgagee shaIl twve waived~~such option to acce lerate if prior to t h e a a l e or t r a a t fer, mortgagoe and the person to whom tl~e property is to be sold o~ trancferred rach agreemaut In writing that t~e credlt of such person is sat- isfactory to Mortgagee aod tbat the Intecest payable on the sam4 secured by this mortgage sball be at such raM aa Mortgagee s6all requost. 11. 'll~at in the eveat the premises hereby mortgaged~ ~ any part tLeroaf. ahaD be co~demned and talcen for public use under the power of eminent domain, tLe I?~ortgagee shall Lave the right to demand that aII damagas awarded for the taking of or dunsges to said premius, shaIl be paid to the Mortgagee up to the amount then unpaid on this matgage and at the option of the Moitsagee may be applied upon the payments last payable Wereon. 12. The mortgagor binds himcelf not to ereet or permit to be erected any ncw buildings on the premises hecein mort8a8ed or to add to or permit to be added to aay of the eztsting impmvements the~+eon ar malce a~ es or alterations in said improvements which materially ati change the same or the use thereof, without the written consent of the Modgagee an in the event of any violation or attempt to violate this stipulation this mortgage and all sums secured hereby shap immediately become ~ue and colloetibk at tLe opKon ~ the Mortgagee. - 13. It is specifically agreed tLat time is d the essenoe of thfs oontract and that no waiver af soy obli Hon hereunder or of tbe obligati~ secured hereby shall at any time be 6eW to be a waiver of the temit hereof or af the lashvmmt hereby. 14. If foreclosure proc~iinngs of any second mortgage or second trust deed or anp funior lien of anY kind a6o~ld be i~ituted, the Mort- ' gabee may. at its o~ption, immcd'~ate}y or t}?ereafter declare this mortgage and the indebtedness sacured hereby due and payabk fort6with, and may at its option procecd to foreclose this mortgage. 15. To the ertent of tbe indebtedness of the Mortgagor to the described Lerein or aecured hereby the Mortgagee is hereby subrogateci to the lien ~ lieat and to tLe rights of the mvne~s and hdde~n#~ of eac~ andavery~rtgag~ lien or other incumbrance oa tLe land described herein which Ls paid and/or satisfied ia whole or in part ont oE the praoeais of t~e loan desaibed herein or secured here~by, and the re.snective liws ~ said aw ges, lie~ or other incumbranoes ahaIl be and the same and ac6 of them hereby is preserved and s6aII pass to and be 6e1d by the Mortgag~ee~herein as aecurity for the indebtedneas to ihe Mo~rtgagee Lerein described or hereby secured. w the same eztent that it v~auld have beeu presernd and wa+ild have been to and been heid by che Morc gee had it been duly and regularly wa~ d ~ assisned, transferred, sec over and dellvered unco che MortBagee separate deed af a+agnment notwith+tanding the fecc that the aan,e may be sacuf;ed aod caaoelled of record, tt be;nR the inceneoa oE the pardies he~e~o chac che s~me a?~II be aa~sf~ed and canoeIIed of rocord by tLe holders thereof at or about tLe ticne of tha reoording of this mortgage. 18. To pay ell and singular tbe oosts, charga and e:peases, induding lawyer s foea, reasooabl~? iac~rred~ at ~ny time by the MoR- gagee, because of the failure of the Mortgagor t~o~e rform~ cam~y with and abide by each and evary? the hoai. apeements, aonditions, and covenants ~ aaid promisso~Y oote nnd this deed, or either, ind every such paymeat shaD bear interest fram date at the defauh rate pro- vided in said promissory note. ' 17. ~ Wt~ena~ amo~nt ofwoney to be paid 1~Y tLe Matga~r to t6e Mottgagee ~mdtr t6e t~erum 6ereof shaII be in defauk. or shonW the ' Mortgagor defadt in any of the other teimt, p»visia~s or c~onditioas of this Ma~tgage, tbea and in that case the Matgagee s6aII 6ave the i right, wlthart notioe to the ModBeSo*, to oouect and receiv~e fmm any tenant or lestee af uui mortgaged premiaea tl~e rents. iasnes sod profitr of the real estate hereby mortgaged and the improvwients thereon. and to g[ve proFer reoeipts and aaluittanoes therefor, and aftet pay_ ing all commissioas of aay renht agent coUect~,g the same. and any rwombk attarney ~ fees and otber n~ry e~e~s incurred in collect~nq same, to apply the proceeds af s~ch collectiaas upon anp inde obllgation or tiabilitY, af the Mortgagor hereunder. 7be I right gaated tha Mortgagee under this paragraph ahaII be in additioa bo,~t~D not $mft or ratrlct. anY other ri~tt or dghts granted the ' Mortp,agee in thit Mortgage. 18. If the Mo~igagrns at tbe time af malring this Mo~tgage or~g nent thereto 4ke art life ins~uanoe de.sigoating the Matgagec herein as beneficiary with a company approved bx the MortS,aBee or assi~ac Poudes to the Mortgage~e for the puTpose of ~uin8 the gag e ~1o4n here~y t6ta the M~rtgagee shaT! bive tLe right to pay~yp remium aaxuiog ~mder sdd policies, And all s~s so a~pend~rted sLaII be = added to~ a part of tbe fndebtednas iecured bY thla Matgage and shall be paid by the Mort8a8~ to the Mm~tgagee ~ in t~velveeq ual oonsec~ive manthly ~~~a1s. ~e fint mondily ina~t to be paid as a part of and in a~i~on to the monthly gaymeat ' due under thts Mo~tgage in the &at cakndar moath foIlowing tLeap ~ af said sam. Such su~ so e:pended to bear interest at the nte ~ at which interrst is payabb upon said principal indebt~ and the lien this Mortgage thall ~d to and sewr~ the sumi su ~p~ded ~ toget}?er with intecest thereon as hereInbefore pmvided. 19. At uwrtgagee a uQaon, to~r vrfth wd ia ~di~oO to ~e monthlypt ymeat of~ p~d~l and interestp~ yabk nnder the terms of the ~ note secured hecebY, Mortgagor pay to Mortgagea each manth until aaid note is fu?Y _paid. aoo-twdith (1/12) of a snmeq ual to the ~ annual premium due for fire, atended coverage, and other ha~rd insaranoe including tlood insurance. oovering the mortgaged PropertY. ~ plus ta:es ar~d assessuients ne:t due on the mort8a8~ P (aII as estimated by MartSaSee) le~ all s~ims sUeady paid therefor, aad to be divided by the number of mont}u to elapae prior to the dat~en snch tazes and a~enb shall become delinquent. Said sums shaD be ~ held by Mortgagee in tru,t or credited to the principal of the lonn, to PaY said insuranoe, tues. aud ~nents and al~aD be appiied on tLe pa ereof when 'vea. In~the~even tof a dehult~or onclaau~ , said su~ held in tr~ust may be applied own any Moo~s ~ 8~*damages sustained ~ in conr~ection with the oolleetion aE the notc secured hereby whether by snit, fora~~asure, or othervvise. Mortgagee may from time to time at ~ its~option waive, and after any sncb wai.~er,~~reinctate any or aIl provisioro bereof *anutrin8 s~ch depoaits, by notioe w Mortgagor tn wrtting. ~ «'hile anY such waiver tt in effect,. Martgagor shall pay tues, a~ssmenb ud inwranoe prani~ as herefn elsevvhere pravided. ~ 20. Mort~ga_gor shall comply with the provisioas of any leate, if this mo~tgage ii on a leasehold. If this mortgage ia on a ooadomininm ~mit, _ mortgagor shaD perEorm all oE martgago~s obligation~ nnder the declaration oF aondomidum or maater deed, the by-laws and regalatloai af ' the condominium project and constituent docarnents. Mortgagor further oovenanb that be and the as~oaiationrespons~bk far the operation ~ of the oondominium wiD observe all of the pmvlsioas of the ssW declarattoo, and a~? ~rnendmenb therebo. and of tbe (`.ondominium law ef the state, and will perform ail obli~atioas thereunder• and a fail~ue to do so wbich is not cured within 30 da~s aker notioe given bq the Mat- qagee to the mortftagor and the said assoclation s6al~coastitute a defauk under thb mortgaga Mortgagor fiirther specificaUy coveoants, bat not ' by way aE limieadon, that he ana the association w~ obaerve ~11 oE the ptovtsiom af atd dedaration of oondomintum relating to insuranoe ~ ooverage. . ; . 21. Martgagor further covenanb and agrces that at the request of Mortgagee to furntsh a standard termite bond Inturing agaiast damage ~ by infestation on the buildings now or hereafter located on the mo~t8a8ed Property . in ~ch amaunts and terms, and with such campany aa ' gPProved and require~ by Mortgagee: and in the event Mortgagor dcei not oomply with thts aovenant Martgagee ahaII have the same rights to obtain same as insurance ooverage +uider caveaaat 4t3 he~eof. ~ 22. That in the event that this uartgage is given to aecare a coiutnbcHon ~fallure on the pa~t af the I?tortgagor or the MortAagor's cootraMor, architect. enpjneers, or sub-contraMors to comp}y with the terms oE Coashvction Laan liAgr~ee~ent of even clate herevvith, ~ which is by reEerence incorpnrated herein, shall, at tLe option oE the M ortgagee, coostitute a defa~ilt here ~ad 23. If the uwrtgaged premises is other than a one to fonr family dweiling, the Modgagar oovenants and agees that he will, not later ; than thirty (30) days after the end of the fiscal year furnish unto the Association a camplece and accurate balanoe sheet and profit and Ioss . statement re(lectiog the Mortgagor s liabilities as wel~ as proFit and loss for ths fiscc~ll year, and snch balance aheet and profit and laas state- ° ment shaU be prepared by a certified public aocountant lioensed in the State of F7orida, and s6a11 be certified as being correct by auch certl- ~ fied public aooountant. U k~~~ ~ n~ ~ ~ $flG+! :a7~ J a ; ; _ - _ > ~ ~ , : ~ -~z . _ . ~4~~~"'3o-~'"°` . i~~,~" ~ . d ' ~ _ ,f