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e. To pferfoem, comp~r rvtth and abWe by each and every atlgthtion, agreement. condition and covenant in said promrssory note and deed
set Forth.
7, la the event the jurisdiction of the U. 3. District Court shall be invoked by or a inst the Mortgagor under any of the provisiow of the
Federal Bankruptcy Act. such action. whether voluntary a involuntary on the Qpaart of the Mortgagor, shall automatically. without ratic~e, as
celeste the araturity of all rums of money herein described and secured' and the stiue shall thereupon become due and payable forthwith
as fully as U the said aggregate sums of money were originally. stipulates to be paid on such date.
8. To deliver to aid Mortgagee. oa or before March 15th of each year, tar receipts evidencing the payrcent of all lawfully Imposed tares
for the preceding calendar year, and to deliver to said Mort ~agce, receipts evidencing the payment oI all liens for public Improvements within
ninety (y0) dais alter the same shall become due and payab~, and to pay or disclwrge within nicety (410) day: after dun date, any and all
Ko~emurrntal levies that may be made on the nwrtgagecl property, on this mortgage or note, or to any other way resulting from the I?lortgatc
indebtedness secured by this mrortgage; anti if this condition l,e not complied with and performed, said mortgagee maY paY such sum or sums
which shall become part of the debbt secured by this mortgage, anti shall bear interest at the default rate provided 'in said promissory note
>at,le monthly urrtJ pant or saki 1?tortgagw uwy rleii that said uK,rtgage debt thereulwrr becon~a dun and payable forthwith.
41. It $ further covenanted and agreed by said parties that in the event of a suit being Instituted to foreclose this mortgage. the Mortgagee
shall he entitled to apply at any time pending such foreclosure suit to the court having jurisdiction thereof [or the appintnrent of a receiver
of all and singular the mortgegedr gryoprrty, ant! of a!! the n•nt~, irxytnN•s, profits issues atxl revenues thereof, fmm whatsoever snores rierivecl• i
noel thereupon it is hereby ezp essl covenanted and agreed that the court shal~i forthwith appoint a receiver of said mortgaged property, alt }
and singular, and of such rents, incomes, profits, issues and revenue thereof, from whatsoever source derived, with the usual powers and
~utics of rrrcisers in like rases; and such appointment shall nad~ by such cac;rt as a natter of strict ri~i to the 5'.art~^re, its su:ressors,
le~al representatives or assigns, sad without reference to the ade<lrracy or inadequacy of the value of the properly hereby mortgaged, or to the
so vency or insolvency of the Mortgagor, and that such rent, profits, income, issues and revenues shall be applied by such receiver to the pay-
ment of the mortgage imlebtedness, costs and charges, according to the order of such court.
10. if all or any part of the property or an interest therein is sold or transferred 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 pint tenant, or (d) the grant of any
leasehold interest of three years or less not containing am option.to purchase, mortgagee may, at its option, declare all the scans secured by
this nrortga~ee to be immediately due and payable. Mortgagee shall have waived such option to accelerate if, prior to the sale or trarssfer, ;
rnort~agee and the 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 Afortgagce and drat the interest payable on the sums secured by this mortgage shall be at such rate as 1?fortgagce shall request.
11. That in the event the premises hereby mortgaged, or any part thereof, shall be rnndemned and taken for public use under the power
of e,ninent domain, the Mortgagee shall have the right to demand that all damages awarded for the taking of or damages to said premises ;
shall be paid to the Mortgaece up to the amount then unpaid on this mortgage and at ~r`~- ~ >Vortgagee may be applied upon
the payments lazt payable thereon.
12. The mortgagor binds himself not to erect or permit to l,e erected any new buildings on the premises herein mortgaged or to add to
or permit to be added to any of the ezisting improvements thereon or make any changes or alterations in said improvements which materially a
change the carne or the use thereof, without the written consent of the 1lfortgagce, and in the event of any violation or attempt to violate this 1
stipulation this mortgage and all sums secured hereby shall immediately become due and collectible at the option of the Mortgagee.
13. It is specifically agreed that time is of the essence of this contract and that no waiver of any ol,li radon hereunder or of the obligation 3
secured hereby shall at any time be held to be a waiver of the. terms hereof or of the irutnrment hereby.
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14. If foreclosure proceedings of any second mortgage or secorrcl tract deed or any junior lien of any kind should be instituted, the Mort- (
Ka~ce may, at its option, imm rately or thereafter declare this mortgage and the indebtedness secured hereby due and payable forthwith, and -
may at its option proceed io foreclose this mortgage.
15. To the extent of the indebtedness of the t?lortgagor to the Mortgagee described herein or secured hereby the Mortgagee is hereby
cubrngatecl to the lien or liens and to the rights of the owners and holders thereof of each and every mortgage lien or other incumbrance on the
land described herein which tr paid and/or satisfied in whole or in part out of the proceeds of the loan described herein or secured hereby s
and the respective liens of said mortgages, liens or other incumbrances shall be and the same and each of them hereby is preserved and shalt s
pass to and be held by the Mortgagee herein az security for the indebtedness to the 1lfortgagce herein described or hereby secured, to the carne sc
extent that it would have keen preserved anti would have been-passed to and been held by the 1lfortgagee had it been duly and regularly
assiLUed, transferred, set over acrd delivered unto the Mortgagee by separate deed of assignment notwithstanding the fact that the same may
Fx• satisfied and cancelled of record, it being the intention of the parties hereto that the same will be satisfied and cancelled of record by the
holders thereof at or abort the time of the recording of this mortgage.
16. 7'o pay all and sin£rrlar the casts, charges and ezpcnses, including 1a ers fees, reasonably incurred or paid at any time by the I?lort-
ga~cr, bcc:ruse of the failure of the Mortgagor to perform, comply with and abide by each and every the stipulations, agreements, conditions, s
and covenants of said promissory note and this deed, or either, and every such payment shall bear interest fry date at the default rate pro- d
widest in said promissory note.
I' 1 «'hc•n any amount of money to be paid by the Mortgagor to the I+fortgagce under the terms hereof shall be in default, or should the
~torteagor do-fault in any of the r,ther terms, provisions or conditions of this I?fortgaRe, then ar,d in that case the Mortgagee shall have the
~ ris;ht, without notice to the \fortrafior, to collect and receive from any tenant or lessee of said mortgaged premises the rents, issues and
profits of the real estate hereby mortgaged and the improvements thereon, and to give proffer receipts and acquittances therefor, anti after ,
p;,vinti; all commissions of any rental agent collecting the same, and any r+eazonable attorneys fees and other necessary Pzpenses incurred in
I c oilcrting same, to apply the proceeds of such collections upon an indebtedness, obligation or liability, of the I?tortgagQr hereunder. The j
ri•,ht Kranted the 1lfortgagce under this paragraph shall be in addition to, and shall not limit or restrict, any other right or rights granted the
j ~fort~agee in this 1?fortgage.
1S. If the Mortgagors at the time of making this 1?lortgage or su uent thereto take ont life insurance designating the Mortgagee herein
I ac lwneficiarv with a company approved by the Mortgagee or assigrs policies to the Mortgagee for the purpose of securing the mortgage loan s
hc•mbv secured. then the 1lfortgagce shall have the right to pay any ppremium accruing under said policies, and all sums so expended shall be
added to acrd become a part of the principal indebtedness secured by this Mortgage arnl shall be paid by the Mortgagor to the \iortgagee
in t.relve er real consecutive monthly installments, the first monthly installment to be paid as a part of and in addition to the monthly payment
due orrclPr tic Aortgage in the first calendar month following the exper,diag of said sum. Such sums so ezpended to bear interest at lbe rate
at which interest is payable upon said principal indebtedness and the lien of this Mortgage shall ez<end to and secure the sums so ezpended
to.ether with interest thereon as hereinl,efore provided.
r 19. At mortgagee's option, together with and in addition to the monthly payment of rvrcipal and interest payable under the terms of the
uotr secured hereby, Mortgagor shall pay to ,frtgagee each month until said note is fully. paxi orre-twelfth (1/12) of a sum equal to the
annual premium due for fire, eztended coverage, and other hazard insurance including flood insurance, covering the mortgaged property,
r plus taxes and assessments nett due on the mortgaged property fall as estimated by Mortgagee) less all sums already paid therefor, and to be
° divided by the number of mont!•.r to elapse prior to the date when such tares -and assessments shall become delinquent. Said sums shall be
held by Mortgagee in trust or credited to the principal of the lean, to pay said irurance, tares, and assessments and shall be applied on the
payment thereof when due. Any excess held in trust by Mortgages when said loan is paid Io fall shall be paid to MortKagor, or his assigns,
or personal representatives. In the event of a default or foreclosure, said snms 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 foreclosure, or otherwise. Mortgagee may from time to time at
r its c~p~ion waive, and after any such waiver, reinstate any or all provisions ~ereof requiring such deposits, by notice to Mortgagor in writing.
t~"bile any such waiver u in effect, Mortgagor shall pey fazes, assessments and insurance premiums as herein elsewhere provided.
?4. I?tortfiagor shall comph• with the Qrovisions of any lease, if this mortgage is on a leasehold. If this mortgage is on a corrclominimn unit
4 mortgagor shall perform all of mortgagors obligations under the declaration of condominium or master deed, the by-laws and regulations o>~
the condominium project and constituent documents. Mortgagor firrther covenants that he and the association r~esporisible for the operation
of the condominium will observe all of the provisions of the said declaration and anx amendments thereto, and of the Condominium law of
~ the state, and will perform all obligations thereonder• and a failure to do so w~ich is not cured within 30 days after notice given by the Mort-
gagee to the mortgacor and the said association sha11'constitute adefault under this mortga~ce. Mortgagor further specifically covenants, but not
by way of limitation, that 6e and the association will observe all of the provisions of said declaratwn of condominium relating to insurance
s coverage.
21. Mortgagor further covenants and agrees that at the request of Mortgagce to furnish a standard termite bond insuring against damage
by infestation on the buildings now or hereafter located on the mortgaged property, in such amounts acrd terms, and with such company az
appmved and required by Mortgagee; and in the event I?fortgay;or does not oanply with this covenant Mortgagee shall have the same rights
to obtain. same as insurance coverage under covenant ~3 her+eof. .
22. That in the event that this mortgage is given to secure a coruYructiam loan, failure ao the part of the Mortgagor or the Mortgagors
contractor, architect, engineers, or subcontractors to comply with the temLS of sire Construction Loan A regiment of even date herewith,
.which is by reference incorporated herein, shall, at the option of the Mortgagee, ooastitute a default hereunder.
23. If the mortgaged premises is other than a one to feu family dwellfnR, the Mort~~aagot covenants and agrees that he will, not later
ttran thirty t 30) days after the end of the fiscal year furnish unto the Association a complete and accurate balance sheet and profit and loss
statement reflecting the Mortgagors liabilities as wel~ as profit and loss for the fiscal year, and Such balance sheet acrd profit and lass state-
ment shall be prepared by a certified public aooountant licensed th the State of Florida, and shall be certlffed as being correct by such certi-
fied public aocamhM. ~J
Grt~.l/ / ~ DIf~C