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t3. To perform, oornply with and abide by each and every ttipulatbn, agru~:mdnt. cor?dition and oovenaat is said proraivory note and deed
s~;t forth.
7. In the event tbe jurisdiction d the U. S. Ixstrict Court shall be invoked by or against the Mortgagor under say d the provisions d the
Federal Bankruptcy Act. such action, whether voluntary or involuntary m the paw of the Mortgagor. shall automatically. without notice, so-
celerate the nmturity d all sums d nwney herein described and secured, and the same shall thereupon become due sad payabb forthwitL
as fully as $ the said aggregate sums d money were originally stipulated to be paid m such data
8. To deliver to said Mo~age~e, ao nr before 1?farch 15th d each year. tax receipts evidencing the payment d all lawfully imposed toss
for the receding calendar year, and to deliver to said M ee, receipts evideadng the payment d all Ueas four public improvements within
ninety ~90) day: after tbe same shall become due and ppaayable, and to ppaay or disebarge withu? ninety (90) da» after due date, soy and aD
governmental levies that may be made on the matgagod property, on tl~ mortgage or note, or in any other way retailing from the Mortgage
indebtedness secured by this avertggage: and tf this oonditim be not compUed with and performed, sold mortgagee may Pay such sum or sums
which shall become part d the debt secured by this mortgage, and IhaU beu Interest at the default me provided in saW promissory note
payable monthly until paid or IoW Mortgages may elect that said mortgage debt thereupm become due and payabb forthwith.
9. It is further coverwuted and agreed by said parties that fo the event d a arts being instituted to foreclose fhb mortgage, the Mortgagee
shall be entitled to apply at any time pending such foreclosuro suit to the court having jralsdiction thereof for the appwnOrrent d a receiver
of all and singular the awrt8agad property, and d all tbe rents. incomes, Profsta, isues and revenues thereof. from whatsoever source derived•
and tbereupoa it is hereby expressly covenanted sad agreed that the court shall forthwith appoint a receiver d said awrtgaged property, ali
and sin . and d such rents, taco profit; issues and revenue thered. from whatsoever source derived, with the usual powers and
duties receivers in like cases; and such appointment shall be made by arch court as a matter of strict right to the Mortgagee, its successors.
le al representatives or assigns. and without reference to the adequacy ar inadequacy d the value d the p hereby mortgaged, or to the
solveac~ or insolvency d the Mortgagor. and that such rmt, profits, in issues anti revenues shall be a~~ by such receiver to the Pay-
ment of the mortgage indebtedness, costs and charges, according to u'• a ceder d sudr court.
10. if all ~ any part d the property or an interest therein is sdd or transferred by mortgagor without mortgagee's prior written consent,
excluding (a) the creation d a lien m eacumbraaoe subordinate to this wortgage, (b) the creation d a purchase money security interest for
household appliances, (c) a transfer by devise a desomt, or by operatim d 4w upm the death d a ioint tenant, or (d) the grant d any
h~sehoid Interest d three years or less not containing an option to purchase, gee may. at its ophm, docLre all the arms secured by
this mortgage to be immediately due and payable. Mortgagee shall have waived such option to accelerate if prior to the ode or transfer,
mortgagee and the person to whom the Property i+r to be sold or truuferrerl reach agreement is writing that t~re credit d such person is sat-
isfactory to Mortgagee and that the interest payabb m the arrmt secured by this mortgage shall be at such rate as Mortgagee shall request.
11. That is the event the premises hereby mortgaged, or any part thereof, shaD be condemned and taken far public use under the power
of eminent domain, the Mortgagee shall have fire right to demand that aD damages awarded for the taking d or damages to said premise
shall be paid to the Mortgagee up to the amount then unpaid on this aratgage and at the option d the Mortgagee may be applied upm
the payments last payable thereon.
12. 'Ibe mortgagor binds hiauelf not to erect or permit to be erected any new buildings m the premises berein mortgaged or to add to
or permit to be added to any d the existing improvements thereon or make anychaages or alterations in said improvements which materially
charge the aanre or the use thereof, without the written oonseat d the Mortgagee, and is the even! d any violation or attempt to violate this
stipulation this mortgage and all sums secured bereby shall immediately becs~am due and coDa.•h'ble at the optim d the Mortgagee•
13. It is specifically agreed that time tr of the essence d this omtrad and flat no waiver d any ob ' rim hereunder or d the obligatim
secured hereby shall at any time be held to be a waiver d the terms hereof or d the instrrmneat hereby.
14. If foreclaavre p d any second mortgage or second trust deed or anp junior lien d any kind should be instituted the Mort-
gagee may, at its optionn~~tately or thereafter dechsre this mortgage and the indebtedness secured hereby due sad payable fort with, and
may at its option proceed to foreclose this mortgage.
15. To the extent d the indebtedness d the Mortgagor to the gageedescribed herein or secured hereby the Mortgagee is bereby .
subroga~ed to the lien ar liens and to the rights d the owners sad holdeh~R
thereof d each and every lies or other incumbranoe m the '
land described herein which b paid and/or satisfied in whole or in part out d the proceeds d the~bed herein or secured
and the respective liem d said es, hens or other incumbrances shaD be and the same and each d them hereby is preserved and
pass to and be heW by the Mortga~ as sorority for the indebtedness to the Mortgagee herein described or hereby secured, to the same
ezteat that it would have bees preserved end would have bees passed to and bees held by the Mortggaagee b~ad it been duly and regularly
assigned, transferred, set aver and delivered unto the Mortgagee by separate deed d assignment notwithstanding the het that the same may
be satisfied and caaedled d record, it being the intention d the parties hereto that the same rrr~l be satisfeed and cancelled d record by the
holders thered at or about the time d the recording d this arortgage.
18. To pay all and singular fire Dogs, charges sad eaperrses, including lawyer's fees, rtasooably incurred or paid at any time by the Mort-
gagee, because d the failure d the M~ w perform, comply with and abide by each and every the stiPnlatioas, agreements, conditions.
and covenants d said promissory note deed, or ,and every arch payment shall bear interest from date at the default rate pro-
~~ded in said promiaory note.
17. \Nlren say amamt d in be paid by the M~gor to the Mortgages Hader the tears tiered Ihall be in default, or should the
Mortgagor default in any d the other terms, or cmditiooa of this Mortgage, shoo and in that case the M~t~gee shall have the
fight, withart notice to lire Mortgagor. too eo? ct and receive from any tenant or lessee d said mortgaged premises the rests, issues sad
profits d the real estate hereby mortgaged and the improvements thereon, and to give proFer receipts and aogrrittanoes therefor, and after
pa all commissions d any rectal agent collecting the same, and any reasonable attornry s fees and other aeo~sary expenses incurred in
g same to apply the proceeds d such coDections upon an~Y in obligation or 11ab0ity, d the Mortgagor hereunder. The
fight granted t~e Mortgagee under this paragraph shall be In addition
todu~ not Umit or restrict, any other right or rights granted the
Mortgagee in this Mortgage.
18. If the Mortgagors at the time d malting this Mortgage or ueat thereto •tabe oat life insurance designating the Mortgages herein
~ as beneficiary with a nompany approved ~y the Mortgagee or assIgas~ to the M far the purpose d securing the mortgageloan
be then the Mortgagee shaII have the right to pay any nmium ~cruing render said policies, and aD sons so expended shaII be
~ added to
amend
~ieoome a part d the prm' a~1 indebtedness secured this Mortgage and shaII be paid by the Mortgagor to the Mortgagee
in twelve equal consecutive mmthly indents, the $rst monthly iastaDment to be paid as a part d and in addition to the monthly payment
due under this Mortgage in the first calendar mmth folbwing the carp d said arm. Such sums so expended to bear interest at the me
at which Interest is payable upon said principal indebtedness a~ the ilea this Mortgage shall extend to and searre the sums so e:peaded
together with interest therem as hereinbefore provided.
19. At mortgagce's option, together with and io addition to the monthly d riadpal and interest payable under the terms d the
l note secured hereby. Mortgagor shaD pay to Mortgagee each month until is fu~? paid, Doe-twelfth (1/12) d a sum to the
annual premium drre.for fire, eztended coverage, and other harard insurance incl~~ tbod insurance, covering the mortgaged property.
plus tares and assessments nest due on the arart®aged P ~r (aII as estimated by mortgagee) less all sums aUeady paid therefor and to be
divided by the number d mmths to elapse prior to the datro
a whoa such tares and a:semnents shall become delinquent. Said sums shall be
held by Mortgagee in taut or credited to the principal of the loan, to pay said insurance, taxes, and assessments and shall be applied m the
payment thereof when due. Aay excess held in trust by Mortgagee when said loan b paid in fall shaII be paid to Mortgagor, or his assn,
or personal representatives. In the event d a dehuh or foreclosure. said suns held in trust may be applied on any costs d damages sustained
in connectim widr the collection d the note secured hereby whether by snit, foredoaure, or otherwise. Mortgagee may from time to time at
its option waive, and after any such waiver, reinstate any or all provisions hereof requiring such deposits. by notice to Mortgagor in writing.
While any arch waiver h in effect, Mortgagor shall pay taxes, assessments and insurance premiums as herein elsewhere provided.
20. Mortgagor shall comply with the provisions d a~ lease, if this wortgage 6 m a leasehoid.lf this mortgage is oa a condominium u~
- mortgagor shaD perform aIl of mortgagors obligations ender the declarattm of ooodomidum or master deed, the by-Eves and regnlatians of
- the condominium project and constituent documents. Mortgagor further ocivenanb that he a~ the assodatioa responu'ble for the opentim
_4 of the condominium will observe all d the provisions d the said declar~t~, and say amendments thereto, and of the Condominium hw d
the state. and will perform all obligations thereunder and a failure to do so whic•L is not cared within 30 desys after notice given by the Mat-
{ gagee to the mortgagor and the said association sbai~ constitute a defauk ender this arortgage. Mortgagor farther apeci$caliy covenants, bat not
by way d limitatim, that be and the associatim will observe ail d the provisions d said ,eclaratlm d emdominium relating to insurance
z OOVCr'age.
$ 21. Mortgagor further covenants and agrees that at tbe request of Mortgagee to furnish a standard termite hood insuring ag~~~t damage
by infestation on the buildings now or hereafter Located m the mortgaged p , is such amounts and terns. and with such company as
approved and required by Mortgagee; and is the event Mortgagor does not comply with this covenant Mortgagee shall have the same rights
to obtain same as insurance coverage under oaveasnt !t3 hexed.
22. That in the event that this mortgage is given to secure a construction failure 9n the part d the Mortgagor or the Mortgagor's
contractor, architect, engineers, or sub-cantractocs to comply with the terms d Com~trnetion I.osn Agr~t of even date herewith,
which is by reference incorporated herein, shall, at the option d the Mortgagee, constitute a default hereunder.
23. If the mortgaged premises tr other than a one to four family dwelling, the I?iorrttggaagar covenants and agrees that be will, not later
than thirty (30) days after the end of the fiscal year furnish unto the Associatim a compete and accurate balance sheet and profit and Lose
statement reflecting the Mortgagors liabilities as wel~ as profit and loss for the fiscal year, and such balance sheet and profit and loss state-
meet shall be prepared by a certified public aeoountant licensed in the State d Fbrida, and shall be certified as being correct by such certi• -
fied public aooountant.
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