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e. To perform, comply with and sbkie by each and every stipalatbn, agreement, condition and covenant in said pranussory note and deed
set forth.
T. In the cveat the jurisdiction of the U. S. DlsMet Court shall be invoked by or last the Motgagor under any of the provisions of the
Federal 13adcruptcy Act, such action. whether voluntary or involuntary on the part of the Mortgagor. shall automatically, without notice, no-
celeste the maturity of aD nuns of money herein described and secured and tLe same shall theroupon booome due and payable forthwith
as fully as iE the said aggregate nuns of money were originally stipulatteedd to be paid ai streh data
8. To deUver to said M ao or before I?Iarcb 15th of each year, tax reodpta evidencing the payaieat of all lawfully imposed to:es
for the calendar year-, and to deUtror to said Mo ee, receipts evidencing the payment of alt Ueas for pubUc improvements within
ninety 90~ )days after the same shad become due and payarb~and to pay or discharge within ninety (90) days after due date, any and all
govemmeatal levies that may be made on the mortgaged psperty. as this mortgage or rwte, or in any other way resulting froa? the Mortgage
indebtedness second by this mortgage; and if this ooadition be not con ed with and performed, said mortgagee may Pay ~ sum or sums
which shall become part of the debt secured by this mortgage, and shall interest at the default rate provided in said promissory note
payable monthly until paid or said Mortgagee may elect that said mortgage debt thereupon become due sad payabb forthwith.
9. It is further ooveaanted and agreed by said parties that in the event of s suit being Instituted to foreclose this mortgage, the Mortgagee
shall be entitled to apply at any time pending such foredasure suit to the court having juriadicttoa thereof for the appointment of a receiver
of all and singular the mortgaged ,and of all the rents, incomes, Profits Issues and revenues thereof, from whatsoever source derived•
and thereupon it is hereby expnrsvemanted and agreed that the court r6aU forthwith appoint a receiver of said mortgaged property. all .
and ,and of such rents, ~co~, profits, issues and revenue thereof, fray whatsoever source derived, with the usual powers and
duties receivers in Uke cases; .and chsu appointment shall be made by arch court as a matter of strict right to the Mortgagee, its successors,
legal representati~~es or assigns, and without reference to the adequacy or inadequacy of the value ~ the prqrerty hereby mortgaged, or to the
solvency or insolvency of the Mortgagor, and that such rent, profits, incomg issues and revearrea shaD be applied by such receiver to the pay-
ment of the mortgage indebtedness, costs and charges, aocordir?g to the ceder of loch court.
10. If all ar any part of the property or an interest therein is sold or transferred by mortgagor without mortgagee's Prig written consent,
ercludin (a) the creation of a lien or cumbrance subordinate to this mortgage, (b) the creation of a gurchase security interest for
househo~ appliances, (c) a transfer by devise a descent, otr by operation of Lw upon the death of a joint teaantd) the grant of soy
leasehold interest of three y or less not containing an option to purrhaae, gee may, at its option, decare all the sums secured by
this mortgage to be immediately due and payable. Mortgagee sLaIl have waivednsrrch option to accelerate if prior to the :ale or transfer,
mortgagee and the person to whom the Property is to be solo or transferred reach agreement in writing that tie credit of such person is sat- .
isfactory to Mortgagee and that the interest payable on the sums secured by this mortgage shaIl be at such rate as Mortgagee shall request. !
11. That in the event the premises hereby mortgaged, or nay part thereof, shaII be condemned and taken for pubUc use under the power
of eminent domain, the Mortgagee sha11 have the right to demand that all damages awarded for the taking of ~ damages to said premises
shall be paid to the Mortgagee up to the amount then unpaid an this mortgage and at the option of the Mortgagee may be appUed upm
the payments last payable thereon. -
12. The mortgagor binds himself not to erect or permit to be erected any new buildings-oa the premises herein mortgaged or to add to
or permit to be added to any of the existing improvements thereon or awke any~an~ or alterations in said improvements which materially
charggee the same or the use thereof, without the written rnaseat of the Mortgages and in the etreat of any vioLtion or attempt to violate this
stipulation this mortgage and all sums secrired hereby shall iamediately became d±ue and collectible at the optiaa of the Mortgagee.
13. It is specifically agreed that time is of the essence of this contract and that ao waiver of sa)r ligation herermder or of the obligatiao
secured hereby shall at any time be held to be a waiver of the terms hereof a of the instrument seemed hereby. .
14. If foreclasum proceedings of any second mortgage or second trust dead or an junior Uen of any kind should be instituted,. the Mort-
gagee may, at its option, immediately or thereafter .declare this mortgage and the indebtedness secured hereby due and payable forthwith, and
may at its option proceed to foreclose this mortgage.
15. To the erteat of the indebtedr~ss ~ the Mortgagor to the ivi,ra~~described herein or secured hereby the Mortrtggaaggee is hereby
subrogated to the Uen or lien and to the rights of the owners and holders of-each and every mortgage lien or other incumbrance on the
land described herein which is paid and/or satisfied in whole: or in part out of the proceeds ~ the loan described herein or secured
and the respective Uens of said mortgages, Uers or other incumbranoes shall be and the same and each of them hereby is preserved ard~
pass to and be held by the Mortgagee herein as senuity for the indebted~ss to the Mo~t~ ee herein described or hereby sec+rred, to the same -
extent that it would have been .preserved and would have hoer to and been held ~iy the Mort~gee had it been duly and regularly
assigned. transferred, set over and delivered unto the Mortgageesepante deed of assignment nett 'thstanding the hct that the same may
be satisfied and cancelled of record, it being ibe intention of the parties Lento that the same wiII be satisfied and cancelled of record by the
holders thereof at or about the time of the recording of this mortgage.
18. To pay all sad singular the coats, charges and expenses. iaduding lawyer's fees, reasonably incurred or paid at eery time by the Mort-
gagee, because of the faihue of the M to~erform, comply with and abide by each and every the snpuTatiaat, amenments, conditions, .
and eovensnts of said promissory note a~ d or dther, and every arch payment shaD bear interest from date at the default Hite pro-
vided in said promissory note.
17. When eery amount of in be paid by the M to the Mortgagee under the terms hereof stall be is dehuk, or should the
Mortgagor default in any of tbe other terms, pprovisions or conditions of this Mortgage, the and in thit cane the Mortgagee shall Lave the
right, without notice to the Mortgagor, to coIIeet and receive from any tenant or lessee of said mortgaged premises the rents, issues and
I profits of the real estate Lereby mortgaged and the improvements thereon, s~ to give proffer receipts and aognittances therefor, and after .
paymg all commissions of a~ rental agent ooliecting the same, and any reaaooable attornry s fees and other neeenary expenses incurred in
i coll~ciing same, to apply the proceeds of such collections upon anp indebtedness,obligatioa or Uability, of the Mortgagor hereunder. The
right granted the Mortgagee under this paragraph shall be in additton Lo, and shaII not Umit or restrict, any other right or rights granted the
Mortgagee in this Mortgage. -
18. If the Mortgagors at the time of making this Mortgage or uent thereto take aft life insarmoe designating the Mortgagee herein
as beneficiary with a nompany approved by the Mortgagee or assigasdes to the Mortgagee for the purpose of securing the gage ban
hereby then tLe Mortgagee stall have the riglrt to Pay an reminm accruing under said poUcies, and all sums so e:)p~~rlMed shaII be
added to
amend
~ieoome s part of the priors Indebtedness secured by tLb Mostgage and sbaII be paid by tLe Mortgagor to the Mortgagee
;n twelve equal eoasecutive monthly ts, the first monthly in:taDmeat to be psW as a part of and in addition to the monthly psY~t
due under this Mortgage in the first calendar month foDovving the apeadinag of said s®. Such sums so mpended to bear interest at the rate
at which interest is payable span said prindpal indebtedness and the Ilea of this Mortgage sLaII ertend to and secure the suss so e:penelod
together with interest thereon as hereinbefore provided.
19. At mortgagee
s option, t with and is addition to the monthly payment of rincipal and interest payable: under the terms of the
note secured benby, Mortgagoros all pay to Mortgage each month until acid note is fully .paid, are-twelfth (1/12) of a error equal to the
annual premium due for fire, extended coverage, and other hazard insurance including flood insurance, covering the mortgagged Property,
plus taxes and assessrents nett due on tLe mortgaged p (aII as estimated by Mortgagee) less all sum shandy Paid therefor, and to be
divided by the number of months to elapse prior to the des arch taus sad its shall become delinquent. Said sums stall be
held by Mortgagce in trust or credited to the principal of the loan, to pay said insurance, tares, and assessments and shaD be applied on the
payment thereof when due. Any excess held in trust by Mortgagee when said ban is paid in fnII shaD be paid to Mortgagor, or his
or personal representatives. In the event of a default ar foreclosure, said arms Leld in trust may be apph'ed on any coats of damages stmrta
in connection with the collection of the note secured hereby whether by salt, foredosun, or othervrise. Mortgagee may from tune to time at
its oopption waive, and after any sort waiver, reinstate any or all provisions hereof requiring such deposits, by notice to Mortgagor in writing.
R'hile any such waiver is in effect, Mortgagor shall pay fazes, a~ssments and iasruanex premiums as herein elsewhere provided.
20. Mortgagor sLaD comply with the ~rovisiors of a~ lease, if this mortgage is on a leasehold. If this mortgage is on a condominium unity -
mortgagor shall perform all of mortgagors obligations under the declaraion of condominium or master deed, the by-laws and regulations of
the condominium project and constituent documents. Mortgagor further covenants that he and the association resporsrble for the operation
of the condominium wiD observe aII of the provisions of the said declaration, and a~ amendments thereto, and of the Condominium law of
the state, and will perform all obligations thereunder; and a failure to do so which is not cured within 30 days after notice given by tLe Mort-
gagee to tbe mortgagor and the said association stall rnastitute a default under this mortgage. Mortgagor further specifically covenants, brat not
by way of limitation, that he and the association wi11 observe aII of the provisions of said declaration of condominium .relating to insurance
coverage.
21. Mortgagor further covenants and agrees that at the request of Mortgagee to furnish a standard termite hoed insrrring agasst damage
by infestation on the buildings now or Lereafter located on the mortgaged Property, in such amounts. and terms, and with such company as
approved and required by Mortgagee; and in the event Mortgagor does not comply witL this covenant Mortgagee shall Lave the same rights
to obtain same as insurance coverage under covenant ~3 hereof.
22. That in the event that this mortgage is given to secure a construction ban failure a? the part of the lliortgagor or the I?fortgagor's
rnntractor, architect, engineers, or sub-contractors to comply with the terns of tyre Constrrrction Loan AAgge~ t of even date LerewitL,
which tr by reference incorporated herein, shall, at tLe option of the Mortgagee, constitute a default hereunder~n
23. If the mortgaged premises is other than a one to four family dwelling, the Mortgagor covenants and agues that he will, not later
than thirty (30) days after the end of the fiscal year funush unto the Assodation a complete and accurate balance sheet and profit aryl bas
statement reflecting the Mortgagorrs liabilities as well as profit and loss for the fiscal ,and such balance sleet and profit and bas state-
ment shall be prepared by a certified public aooountant licensed in the State of Fbrida~and stall be certified as being correct by arch certi-
fied public aooouata~.
dt101Ic~.0 PAGF ~~GJ