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set: forth. form, Damply alth anti abide by catch and evsq Wpdation. agreement, ooodiaon and atvenaat is safd promtssoty note anti deed
7. la the event the jurisdiction of the U. S. 1)Lstrict Court shall be invoked by as last the Mortgagor _twder nay of the provtsfon: of the
Federal Bankruptcy Act, such action, whether voluntary tx involuntary on the part of the Mortgagor, shall auto~maticaUy, without nonce, as
celeste the maturity of all sums oaf money herein described and secured, and the :ame shall thereupon become dtw and payabb fotthwitb
as fully a: if the sakl aggregate sums of money were originally stipulated to be paid on sucL date.
8. To deliver to said Mortgagee. ao nT before March 15th of each year, tors receipts evidencing the payment of all lawfully imposed taxes
for the preceding calendar year, anti w deliver to said Mortgagee, receipts evidencing the payment of all liens for public improvements within
ninety (fl0) days after the same ahaU becoune due and payable and to pay or discharge within ninety (90) days titer due date, any and all
govenunental levies that may be made on the mortgaged p rty, on this mortgage or rate, or in any other way resulting from the I?fortgage
indebtedness secured by this mortgage: and if this condiaoa 1?e rat complied with and performed, said mortgagee maY pay such sum or suau
which shall become part of the debt secured by this mortgage, and shall bear interest at the default ate provided in said promissory note
pa>•able monthly until paid or said Mortgagee may elect that said mortgage debt thereupon become due and payable forthwith.
It is further covenanted and agreed by Bald parties that is the event of a suit being instituted to foreclose this mortgage, the Mortgagee
shall be entitled to apply at any time periling such foreclosure suit to the court having jurisdiction thereof for tho appointment of a receiver
of all and singular the mortgaged property, and of all the nuts, incourc•s, profits, atsues and revenues thereof, from whatsoever source elerivecl•
and thereupon it is hereby expressly covenanted and agreed that the court shall forthwith appoint a receiver of saiel mortgaged property, all
and singular, and of such rents, incomes, profits, issues anel revenue thereof, from whatsoever source derived, with the wual powers and
duties of receivers in like cases; and such appointment shall be made by such court as a matter of strict right to the Mortgagee, its successors,
legal representatives or assigns, and without reference to the adequacy or inadequacy of the value of the prope 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
meat of the mortgage indebtedness, costs and charges, according to the order of such court.
10. if all or any part of the property or an interest therein it sold or transferred by mortgagor without mortgagee's prior written consent,
e:cludin}~ (a) the creation of a lien or encumbsnce subordinate to this wortgage, (b) the creation'of a purchase nwney security interest for
household appliances, (c) a isnsfer by devise or destwnt, or by opestion of law upon the death of a joint tenant, or (d) the gent of any
leasehold interest of three years or less not rnntaining an option to purchase, mortgagee may, at its oopption, declare all the sums secured by
this nartgage to be immediately due and payable. Mortgagee shall have waived such option to acceleste iF prior to the sale or tsnsfer,
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-
isfaMory to Mortgagee and that the interest payable on the swru secured by this mortgage shall be at such ate as Mortgagee shall request.
11. That in the evrnt the premises hereby mortgaged, or any part thereof, shall be rnrdemned and taken for public use under the power
of eminent domain, the Mortgaiee shall have the right to dernaud that all damages awarded for the taking of or damages to said premises
shall be paid to the Mortgagee up to dre amount then unpaid oa this mortgage aril at the option ~ the Mortgagee may be applied upon
the payments last payable thereon.
12. The mortgagor 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 changes or altestioas in said improvements which materially
change the same or the use thereof, without the written consent of the Mortgagce, and in the event of any violation or attempt to violate this
stipulation this mortgage and all sums secured hereby shall immediately become due and collertibk at the option of the Mortgagee.
13. It is specifically agreed that time is of the essence of this conic act and that no waiver of any ol,li ~ oeeb ereurxler or of the obligati
secured hereby shall at any time be held to be a waiver of the terms hereof or of the instrument seen y.
l4. If foreclosure proceeclin of any second mortgage of second trust deed or anp junior lien of any kind should be instituted, the \tort-
Ra:;ee 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 ~ the Mortgagor to the Mortggogee described herein or secured hereby the Siortgaggee is hereby
subrogated to the lien or liens and to the rights of the owners and holders Wereof of each and every mortgage lien or other incumbsnce on the
land described herein which is paid and/or satisfied in whole or in part out of the proceeds of the loan described herein or secured• hereby
and the respective liens of said mortgages, liens or other incumbnnces shall be and the same and each of them hereby is preserved and shall
pass to and be held by the Mortgagee herein as security for the indebtedness to the Mortgagee herein described or hereby secured, to the same
extent that it would have been preserved and would have been passed to and bees held by the I?tortgagee had it been duly and regularly
assi•ned, tsnsfernd, set over and delivered unto the 1ltortgagee by separate deed of assignment notwithstanding the fact that the same may
lee satisfied and cancelid 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 about the time of the recording of this mortgage.
1(3. To pay all and singular the costs, charges and expenses, including lawyer
s fees, reasonably incurred or paid at any time by the Mort-
i gagee, because of the failure of the Mortgagor to perform, rnmply with and abide by each and every the stipulations, agreements, conditioac,
and covenants of said promissory note and this deed, or either, and every such payment shall bear interest from date at the default rate pro-
~~clecl in said. promissory note.
17. \\'hcn any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof shall be in default, or shmdd the
Mortgagor default in any of the other temu, provisions or conditions of this 1lfortgage, then and in that case the Mortgagee shall have the
right, without notice to the ~tortc*.agor, to collect and receive from any tenant or lessee of said mortgaged premises the rents, iaues and
profits of the real estate hereby mortgaged and the improvements thereon, and to give proffer receipts and acquittances therefor, and after
pa ng all rnmmissioac of any rental agent collecting the same, anti any reasonable attorneys fees and other necessary experues incurred in
collecting same, to apply the proceeds of such collections upon any indebtedness obligation or .liability, of the Mortgagor hereunder. The
right granted the Mortgagee under this paragsp6 shall be in addition to, and s~all not limit or restrict, any other right or rights granted the
~lortgage~e in this Mortgage.
18. If the Mortgagors at the time of making this Mortgage or snbsx~uent thereto take out life iruusrrce designating the Mortgagee herein
as Ix•neficiary with a company approved by the Mortgagee or assigac po 'eies to the Mortgagee for the purpose of securing the mortgage loan
beech soured, then the 1lfortgagee shall have the right to pay any premium accruing under said policies, and all sums so expended sh~l•be
added to and Ix•come a part of the princ~ip.~) indebtedness secured by this Mortgage and shall be paid by the :?trtgagor to the Mortgagee
in twelve eY) nal consecutive monthly installments, the first monthly installment to be pakl as a part of and in addition to the monthly payment
due under this I?tortgage in the first calendar murrth'following tl~e expending of said sum. Such sums so expended to bear interest at the ate
at which interest is payable upon said principal indebtedness and the lien of this Mortgage ahaD eztend W and secure the sums so expended
together with interest thereon as hereinbefore provided.
19. At mortgagee's option, together with aril in addition to the monthly payment of rincipai and interest payable under the terms of the
note secured hereby, 1liortgagor shall pay to Mortgagee each month until said cwte is fully paid, ace-twelfth (1/12) of a sum equal to the
snnua) premium due for fire, extended covesge, and other hazard insurance including flood insusnce, covering the mortgaged property,
plus tacos and assessments nert tine on the mortgaged property (ail as estimated by Mortgagee) less all sums already paid therefor, and to be
divided by the number of months to elapse prior to the date when such tares and assessments shall become delinquent. Said sums shall be
held by I?tortgagee io trust or credited to the principal of the loan, to pay said insrrrarrce, fazes, and assessments and shall be applied on the
payment thereof when due. Any excess heW in trust by Mortggaagee when said ban ~ paid in full shall be paid to Mortgagor, or his assigns,
or personal representatives. In the event of a default or foreclosure, said sums held in trust may be applied on any costs of damages sustained
in connection with the rnllection of the note secured hereby whether by suit, foreclosure, or otherwise. Mortgagee may from time to time at
its option waive, and after am such waiver, reinstate any or all provisions hereof requiring such depaaits, by notice to Mortgagor in writing.
i \\'hi a any such waiver is in effect, Mortgagor shall pay lases, assessments and irrsnrance premiums as herein elsewhere provided.
t
20. Mortgagor shall comply with the Qrovisions of any lease, if this mortgagge is on a leasehold. If this mortgage is on a condominium unit
mortgagor shall perform all of mortgagors obligations under the dcclastia, of ooodominium or master deed, the by-laws and regulations of
the condominium project and constituent documents. !~fortcagor further covenants that be and the association responsible for the operation
of the condominium will observe all of the provisionu of the said declastioo and a~ amendments thereto, and of the Condominium law of
x the state, and will perform a0 obigations tbereuncler• and a failure to do so which is not cured within 30 desys aher notice given by the Mort-
ga¢ee to the mortgagor and the said association shall constitute a default under this mortgage Mortgagor further specificaDy covenants, but not
by way of limitation, that he and the association will observe all of the provisions of said declastion of condominium relating to insurance
6 rnvesge.
21. Mortgagor further covenants and agrees that at the request of I?fortgagee to furnish ~ standard termite bond insuring agarntt damage
by infestation on the buildings now or hereafter located on the mortgaged property, is such iirnounts and terms, and with such company as
approved and required by Mortgagee; and in the event 1lfortgagor does not comply with this eovenanE Mortgagee shall Gave the same rights
! to obtain same as insurance oovesge under covenant tt3 hereof. •
22. That in the event that this mortgage is given to sctivre a construction ban, hilure on the park of the Mortga or or the I?fortgagors
contractor, architect, engineers, or sub-contractors to comply with 'the terms of the Constriction L~oan Aggreement ~ even date herewith,
~ which is by reference iricorposted herein, shall, at the option of the 11f ortgagea, oonstltute a defauh bererinder.
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 aher the end of the fiscal year furnish unto the Associati a complete and aavste balance sheet and profit and bas
i statement reflecting the Mortgagors liabilities as wel~ as profit and bss for the fiscal yt'ar, and such balance sheet and profit and loss state-
ment shall be prepared by a certified public accountant lioeased in the State of Florida, and shall be certified as being oorred by such certi-
fled public accountant. E•
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. _ ~ - - 330 Pa~E x.524 _ _