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6. To perform, comply with and abide by each and every stipulation, agreement, condition and covenant in said promissory note and deed
set forth.
7. In We event the jurisdiction of the U. S. District Conti shall be invoked by or against the Mortgagor under any of the provisions of the
Federal Bankruptcy AM, such action, whether voluntary or involuntary on the of the Mortgagor, shall automatically, without rwtice. so-
celeste the maturity of all sums of mocey herein described and secured and the sane :ball thereupon become due and payable forthwith
as fully as if the said aggregate sums of money were originally stipulated to be' paid oo such date.
8. To deliver to utd Mortgagee o0 or before I?tarch 15th of each year, tax receipts evidencing the payment of all lawfully Imposed to:es
for the preceding calendar year, an~ to deliver to said Mortggagee, receipts evidendng the payment of all Uens for public improvements within
ninety (!0) days after the same shall become rice and payablle, and to y or discharge within ninety (90) days after due date, an and all
governmental levies that may be made oa the mortgaged property, on this mortgage or mete, or in any other way resulting fran the Mortgage
indebtedness secured by this mortgage; and iE this condition be not tom ed with and performed. said mortgagee rosy Pay such sum or sums
which shall become part of tbe debt secured by this mortgage, and shall interest at the default rate provided io said promissory note
payable monthly until paid or said Mortgagee may elect that said mortgage debt thereupon become due and payable forthwith.
9. It is further covenanted and agreed by said parties that in the event ~ a suit being instituted to foreclose this mortgage, the I.iortgagee
sha'.1 ba entitled to apply at any time pending such foreclosure suit to the court having jurisdiction thereof for the appointment of a receiver
of all and singular the mortgaged property, and of all the rents, incomes, profits, issues and revenues thereof, from whatsoever source derived•
and thereupon tt is hereby expressly covenanted arxi agreed that the court shall forthwith appoint a receiver of said mortgaged Property, a)i
and singular, and of such rents, incomes profits, issues and revenge thereof, from whatsoever source derived, with the usual powers and
duties of receivers in like cases; and suer appointment shall be made by such court as a matter of strict right to the Mortgagee, its successors,
leggal representatives or assigns, and without reference to the adequacy or inadequacy of the value of the property hereby mortgaged, or to the
solvency 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 indebtedness, coats and charges, according to the order of such court.
10. If all or any part of the property or an interest therein b sold or trantfenred by mortgagor without mortgagee's prior written consent,
excludin (a) the creation of a lien or encumbrance subordinate to this mortgage, (b) the creation of a purchase money security interest for
househo~ 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 any
leasehold interest oP three years or less not rnntaining an option to purchase, mo may, at its apti~, declare all the sums secured by
this nwrtgage to be immediately due and payable. Mortgagee shall have waivedoption to accelerate if prior to the sale or transfer,
mortgagee and the person to whom the property is to be sold or transferred reach agreement in writing that t~re 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, ahaII be condemned and taken for public use under the power
of eminent domain, the Mortgagee shall have tbe right to demand that all damages awarded for the taking of or damages to said premises
shall be paid to the Mortgagee up to the amount then unpaid on this mortgage and at the option of the Mortgagee may be applied upon
the payments last payabb thereon:
12.. The wortgagor binds 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 ~e~ or alterations in said improvements which materially
change the same or the use thereof, without the written consent of the Mortgagee, and in the event of any violation or attempt to violate this
stipulation this mortgage and all sums secured hereby shall immediately became due and ooDectible 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 ob ' ation hereunder or of tbe obligation
secured hereby shall at any time be held to be a waiver of the terms hereof or of the instrument hereby.
14. If foreclosure proceedings of any second mortgage or second trust deed or a, junior lien of any Idnd 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 extent of the indebtedness of the Mortgagor w the Mortga described herein or secured hereby the Mortgaggee is hereby
subrogated to the lien or liens and to the rights of the owners and holders thereof ~ each and every mortgaggee lies or other incumbsrrce on tbe
land described herein which is paid and/or satisfied in whole or in part out of the proceeds of the ban deescribed herein or secured hereby
and the respective liens ~ said mortgages, liens or other incumbrances shall be and the same and each of them hereby is preserved and shalt
pass to and be held by the Mortgagce herein as security for the indebtedness to the Mo~tg~~ee herein described or hereby secured, to the same
extent that it would have been preserved and would have been to and been held by the Mortggaagee bad it been duly and regularly
assigned, traaderred, set over and delivered unto the Mortgagee bsepante deed of assignment notwidutanding tbe fact that the same may
be satisfied and cancelled of record, it being the intention of the parties hereto that the same will be satadied and cancelled of record by the
holders thereof at or about tbe time of the recording of this mortgage.
~ 18. To pay all and singnbu the costs, charges and expenses. including lawyer's fees, reasonably incurred or~a~d at any time by the Mort-
~ gagee, because of the failure of the Mortgagor to worm, comply with and abide by each and every the stipnlatrons, agreements, conditions,
and covenants of said promissory note and this deed, or either, and every such Payment shall bear inten>at from date at the defauh rate pro-
vided in said promissory note.
17. When aarr~ryy amount of money in be paM by the Mortgagor to the Mortgagee under the terms hereof shaIl be in default, or should the
Iliortgagor defadt in any of the other ternrs, prevurons or conditions of this Mortgage, then and in that case the Mortgagee shall have the
right, without notice to the Iiiortgagor, 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 acgnittanoes therefor, and after
Pa aD commissions of any rental agent ooDecting the same, and any reasonable attorneys foes and other necessary expenses incurred in
ecting same, to apply the proceeds of such oollectrons upon an indebtedness obligation or liability, of the Mortgagor hereunder. The
right granted the Mortgagee under this Paragraph shaII be in addition to. and tlSaD not limit m restrict, any other right or rights granted the
Mortgagee in this Mortgage.
18. If the Mortgagors at the time of making this 1?iortgage or user thereto taloe out life insurance designating the Mortgagee herein
as beneficiary with a company sPPro~ by the Mortgagee or assigoscies to the Mortgagee for the purpose of securing the mortgage ban
hereby se+cared then the Mortgagee shall have the right to pay an remium axruing ender said Policies, and aIl sums so expended shall be
added to and ~ecome a part of -the princr~al indebtedness secured by this Mortgage and shall be paid by the Mortgagor to the Mortgagee
in twelve ual consecutive monthly installments, tbe first monthly installment to be paid as a part of and in addition to the monthly Payment
due under
t~rs' Mortgage in the first calendar month following the e~per of said sum. Such sums so experded to bear interest at the rate
at which interest is payable upon said prindpal indebtedness anti the lies this Mortgage shall extend to and secure the sums so expended
together with interest thereon as herelnbefore provided.
19. At mortgagee's option, t with and in addition iD the monthly payment of rindpal and interest payable under the terms of the
note secured hereby, Mortgagorpay to Mortgagee each month until said note is n~y pard, one-twelfth (1/12) of a sum equal to the
annual premium tine for fire, extended coverage, and other hazard iruorance includinfg flood insurance, covering the mortgaged Property.
plus taxes and assessments next due on the mortgaged p (aII as estimated by Mortgagee) less all sum already Paid therefor, and to be
divided by the number of months to elapse prior to the datro
eewhen such tares and assessments shall become delinquent. Said sums shaII be
held by Mortgagee in trust or credited to the principal of tbe loan, to pay said insurance, tares, and assessments and shall be applied on the
payment therN when due. Amr excess held in trust by Mortggaagee when said ban is paid in fuD shall be paid to Mortgagor, or his asstgns,
or personal representatives. In the event of a default or foreclosure, said sums held in teat may be applied on any costs of damages sustained
in connection with the collection of the rwte secured hereby whether by suit, foreclosure, or otherwise. Mortgagee may from time to time at
iGc lion waive, and after any such waiver, reirutate any or aD provisions hereof requiring such deposits, by notice to Mortga or in writing.
While any such waiver is in effect, Mortgagor shall pay tares, assessments and insurance premiums as herein elsewhere ped. -
20. Mort~ga~gor shaD comply with the ~rovicions of any lease, if this mortgage is on a leasehold. If this mortgage is oa a condominium unit,
mortgagor shall perform aII of mortgagors obligations ender the declaration of condominium or master deed, the by.-laws and regulations of
the condominium project and constituent documents. Mortgagor further canrenants that he and the association responsible for the operation
of the condominium will observe all of the provisions of the said declaration and any amendments thereto. and of the Condominium law of
the state, and will perform all obligations thereunder; and a failure to do so w~ich is not cured within 30 days after notice given by the Mort-
gagte to the mortgagor and the said association shall constitute a defauk under this mortgage. Mortgagor further specifically covenants, but not
by way of limitation, that he and the association will observe all of the provisions of said declaration of oondominirun relating to insurance
coverage.
21. Mortgagor further covenants and agrees that at the request of Mortgagee to famish a standard termite bond insuring against damage
by infestation on the buildings now or hereafter 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 with this covenant Mortgagee shall have the same rights
to obtain same as insusnce oovesge under covenant #3 hereof.
22. That in the event that this mortgage is given to secure a const ruction ban, failure on the part of the Mortgagor or the Mortgagor's
contractor, architect, engineers, or sub-contactors to comply with the terms of the Construction Laan AAggrreement of even date herewith,
which is by reference incorporated herein, shall, at the option of the Mortgagee, constitute a default herermder.
23. If the mortgaged premises is other than a one to four family dweDing, the Mortgagor covenants and agrees that he will, not later
than thirty (30) days after the end of the fiscal year furnish unto the Association a complete and actuate balance sheet and profit and bas
statement reflecting the 1ltortgagors liabilities as we1~ as profit and lord for the fiscal year, and such balance sheet and profit and lass state-
ment shall be prepared by a certified public accountant licensed in the State of Fbrida, and shall be certified as being correct by such certi-
fled public sooounta~. ntt nom] _ . _ ~ A A A