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8. To perform, canply with and abide by each and Bray stipdatlon, agreement, conditroa and covenant In said prornrswry note and deed
:e< forth.
7, la the event the jurisdiction of the U. S. District Court shall be invoked by or inst the MortKagor~~under any of the provisions of the
Federal Bankruptcy Act, such action, whether voluntary a involuntary oa the pad of the I?tortgagor, sLaU sutomaticaUy, wrtlrart uutice, ao-
celeste the uwturity of all sums of rrrorrey heroin described acrd secured and the same shall thereupon become due and payable forthwith
as fully as if the said aggregate sums of money wem originally atipulate~ to be paid oo such date.
8. To deliver eo acid Mortgagee oo cx before Mare6 15th of each year, tax re~.•eipts evidencing the payment of all lawfully imposed taxes
for the prt.•t,•eding calrrrdar year, anti to deliver to said Mortgagee, receipts evideacirrg the payment of all Iferu for public iruprovrurruts within
ninety (i)0) days alter the sears shall become due and payable, and to pay or discharge within ninety (90) days after due date, any and all
tio+•enuueutal levies that sexy lrr made on the mortgaged p rty, oa u mortgage or note, or in any other way resulting from the I?tortgabe
inJebtrclrreas secured by this mort ¦age; and if this condition l,e not complied with and perfomred, said mortgagee may pay such sum or iu» u
which shall become part of the de~t secured by this mortgage, arrcl sl?aU bear interest at the default rate provided in said promissory note
payable monthly until paid or said Mortgagee may elect that said mortgage debt lheinupon become due aril payable forthwith.
q. It is hrrther covenanted and agreed by said partks that in the event of a suit being instituted to foreclose this mortgage, the Mortgagee
shall be entitled to apply at any time pending such forrrlosum suit to the court having jurisdiction thereof for the appperindnent of a receiver
of all and singular fire mortgaged property, and of all the n•nt,, incou,es, profits, issues and revenues thereof, from whatsoever source derivcd•
and thereupon it is hereby expressly covenanted aril agreed that the court shall forthwith appoint a receiver of said mortgaged properly, all
and singular, arrcl of such rents, irreoures, proiits, issues arrcl revenue thereof, from whatsoever source deriveel, with the usual powers and
duties of receivers in like cases; and such appointment shall Ire sleds by such court as a matter of strict right to the 1lfortgagee, its successors,
Ic}g,al representatives or assigns, and without reference to Ure adeciuacy or inadequacy of the value of the property hereby mortgaged. or to the
solvent or insolvency of the Mortgagor, and that such real, profits, income, issues and revenues shall be applied by such receiver to the pay-
ment of the mortgage indebtedness, costs and a•harges, accosting to the order of such court.
10. If all or any part of the property or an interest theinin is sold or traruferted by mortgagor without mortgagee's prior written consent,
excluding (a) the creation of a lien or encumbrance subordinate to this mortgage, (b) the creation of a purchase money security interest for
household appliances, (c) a transfer by devise or descent, or by operation of law upon the death of a joint tenant, or (d) the grant of arry
lr•asrhokl interest of three yyears or less not containing an option to purchase, mortga ee may, at its option, declam all fire sums secured by
this ,mortgage. to Frc imnxKliately due and payable. Mortgagee shall have waived such option to accelerate if, prior to the sale or trarrsfcr,
mortgagee and tier person to whom the property is to be sold or transferred reach agreement in writing that the credit of such person is sat-
isfactory to Mortgagee and that the interest payable on the sums secured by this mortgage shall be at such rate as Mortgagee shall request.
11. That in the event the premises hereby mortgaged. or any part thereof, shall be condemned and taken for public use under the power
of eminent domain, the 1?tortgagee shall ha+c the right to demand that all damages awarded for the taking of or damages to said premises
shall be paid to the 1lfortgager up to the amount then unpaid on this mortgage and at the option of the ]lortgagee may be applied upon
flee payments last payable thereon.
12. The mortgagor hinds himself not to erect or permit to be erected any new buildings on the premises herein mortgaged or to add to
or permit to be added to any of the existing improvements thereon or make any changes or alterations in said improvements which materially ' t
change tlrc• same or the use thereof, without the written consent of the Mortgagee, and in the event of any violation ar attempt to violate thic
,tipnlation tl?is mortgage and all sums secured hereby shall immediately become dire and collectible at the option of the I?tortgagee.
13. it is specifically agreed that tune is of the esserrcr of this coot, act and that no waiver of any ol,li ration hereunder or of Ure obligation
secured hereby Shall at any tiuw be held to I,e a waiver of the temu hereof or of the irutrument secure hereby.
l4. If foreclosure proceedings of any second mortgage or second tnrst deed or an junior lien of any kind should be instituted, the \tort-
¢a,rr rnay, at its option, immediately or thereafter declare this mortgage and the indebtedness secured hereby due and payable forthwith, and
miry at its option proceed to foreclose this mortgage.
i5. To the extent of the indebtedness of the Mortgagor to the Mortgagee described herein or secured hereby the Mortgaggee is hereby
:ubrogatccl to the lien or liens and to the rights of the owners sod holders thereof of each and every mortga a lien or other encumbrance on the
laml described herein which is paid and/or satisfied in whole or in part out of the proceeds of the loan described herein or secured herel,y
anti the respective liens of said mortgages, lieru or other incumbrances shall be and the same and each of them hereby is preserved and shalj
pass to and be held by the Mortgagee herein az security for the indebtedness to the Aortgagee herein described or hereby secured, to the same
extent that it would have been preserved and xvould have been passed to aril been held by the Iliortgagee had it been duly and regularly
a,si.^.r,c•ci, transferred, set over anti delivered unto the Mortgagee by separate deed of assignment notwithstanding the fact that the same may
be satisfied and cancell_-d of recortl, it being the intention of the parties hereto that the same will be satisfied and cancelled of recrrd by the
helclers thereof at or about the tune of the recording of this mortgage.
I(i. 7•u pay all and singular the costs, charges and expenses, including lawyers fees, reasonably incurred or paid at any time by the Mort-
:*a~.:e~•, becau,e of the failure of the llfortgagor to perform, comply with and abide by each and every the stipulations, agreements, conditions,
an,l coc••nants of said promisurry note :end this deed, or either, and every such payment shall bear interest from date at the default rate pro-
+:~lr•c1 in said promissory note.
I?. \\'hr•n an am»unt of messy to be paid by the ]lortgagor to the 5ortgagee under the terms hereof shall he in default, or sl?ould the
\tr,rt~:rs!ur rle•fault in any of the other temps, previsions or conrlitiuns of this Mortgage, then and in that case Qre 111ortga¢rr shall ha.e the
i ricirt, ++•ithout notice to the \lort,agor, to collect and receive from any tenant or lessee of said mortgaged premises the mots, issues and
profits of the real estate hereby mortgaged and the improvements thereon, and to give proffer receipts and acquittances therefor, and alter
i payim, all commissions of any rental agent collecting lire same, and any reasonable attorneys fees and other necessary expenses incurred in
E cnllr•cting same, to apply the proceeds of such collections upon an indebtedness, obligation or liability, of the Mortgagor hereunder. The
ri~,ht };ranted the Mortgagee antler this paragraph shall be in addition to, and shall not limit or restrict, any other right or rights granted the
s \tort,attee in this Mortgage.
~ Ile. If the Mort~,;agors at the time of making this Mortgage or subs.-,guest thereto take out life innrrarrce designating the Mortgagee herein
ac Ix•neficiary with a company approved by the Mortgagee or assig»s policies to the Mortgagee for the purpose of securing the mortgage loan
~ h,~-r•hv secured. then the 1ltortgaQce shall have the right to pay any ppinmium aeertring under said policies, and all sums so expended shall be
ac1,IeYl to anti lxcome a part of the principal indebtedness secured by this 1lfortgage and shall be paid by the Mortgagor to the Mortgagee
i,~ t.+•elve er ual consecutive monthly installments, the first monthly installment to be paid as a part of and in addition to the monthly payment
doe under t~is lMortgaee in the first calendar month following the ezpendin of said sum. Such sums so expended to bear interest at the rate
at which interest is payable upon said principal indebtedness and the lien this Mortgage shall eztend to and secure the sums so expended
t~
nether with interest thereon as hereinlrefore pro~tided.
19. :\t mortgagee
s option, together with and in addition to the monthly payment of pnncipal and interest payable under the terms of the
note secured hereby, Mortgagor shall pay to Mortgagee each month until said note is fully. paid, one-twelfth (1/12) of a sum ec ua1 to the
annual premium due for fire, extended coverage, and other ha-rard insurance including flood insurance, covering the mortgage property,
pins taxes and assessments nert due on the mortgaged property (all as estimated by 1ltortgagee) less all sums already paid therefor, and to he
rli+~ided by the number of months to elapse prior to the date when such taxes and assessments shall become delinquent. Said sums shall be
hr•Id by ;.Mortgagee in tout or credited to the principal of the loan, to pay said insurance, fazes, and assessments and shall be applied on the
pavrnent thereof when doe. Any excess held in tout by Mortggaagee when said lean is paid in full shall be paid to Mortgagor, or his assigru,
or personal representatives. In the event of a default or foreclosuin, said sums held in trust may be applied on any costs of damages sustained
in connection with the collection of the note secured hereby whether by suit foreclosrin, or otherwise. Mortgagee may from time to time at
it, option +caive, and after any such waiver, reinstate any or all provisions ~rereof inquiring such deposits, by notice to Mortgagor in writing.
c ~l•hi a any such waiver is in effect, Mortgagor shall pay fazes, assessments and insurance premiums as herein elsewhere provided.
?0. 1\tortfiagor shall comply with the Provisions of any lease, if this mortgage is on a leasehold. If this mortgage is on a condominium unit,
~ mr,rteagor shall perform all of mortgagors obligations under the declaration of condominium or master deed, the by-laws and regulations of
the condominium project and constituent documents. 1\fortLagor firrther covenants that he and the association responsible for the operation
j u' the condominium +vi11 observe all of the prbx~sions of the said declaration and arry amendments thereto, and of the Condominium law of
th,• state, and will perform all obligations thereunder; and a failure to do so w~rich is not cured within 30 days after notice given by the Mort-
$ eases to the mortgagor and the said association shall constitute a clefauk under this mortgage. 1lfortgagor further specifically rnvenants, but not
by way of limitation, that he and the association will observe all of the provisions of said declaretion of condominium relating to insurance
i coverage.
21. Mortgagor further covenants and agrees that at the request of llfortgagee to famish a standard termite bond insuring agairut damage
i by infestation on the buildings noxv or hereafter located on the mortgaged property, in such amounts and terms, and with such company as
approved and required by Mortgagee; and in fire event !1lortgas:or does not comply with this eoverrant Mortgagee shall have the same righb
to obtain same as insurance coverage under covenant s~3 hereof.
23. That in the event that this mortgage is given to secure a construction loan. failure on the part of the Mortgagor or the Mortgagor's
rnntractor, architect, engineers, or sub-contractors to comply with the temu of the Constmction Loan Agreercent of even date herewith,
~•hich is by inference incorporated herein, shall, at the option of the Mortgagee, constitute a default heinunder.
23. If the mortgaged premises is other than a oce to four family dwelling, the I?tortgagor covenants and agrees that he will, not Later
than thirty (301 days after the en•l of the fiscal year, famish unto the Association a complete and accurate balance sheet and pmfit and lass
,t:rtement reflecting the Mortgagors liabilities as well as profit and loss for the fiscal year, and such balance sheet and profit acrd loss state-
ment shall be prepared by a certified public accountant liceased in the State of Fbrida, and shall be certified as F,eing correct by such certi-
Pied public accountant. C~
ann~.1~I l acre ~ `i"1xJ