HomeMy WebLinkAbout0009e. To perform, comply with and abide by each dad every atipolatba agrcematt. wndrttoa arw ouvenant in said pomway Dots and deed
set forth.
T. In the event the jurisdiction of the U. S. I)Lttrict Court shall bs invoked by a the M under soy d the govisioot of the
Federal Bankruptcy Act, such action, whether vduntary a iovduntary os the of the I-torigaga. shall autotsaticalty, without w,tias, as
relrrato tiro maturity of all sums of tr-oney herein described and secured and the tame shall thereupon become dun sod payable forthwiBt
as fully n if the said aggregate tunas of money were originally stipuLtert to be paid oo such date.
8. To deliver to raid Mortgagee. oo tk before March 15th aE each year, tax reoeipb avidesNog the payment of all lawfully imposod lases
for the preceding calendar year, and to deliver to said Mortgagee, receatpts evidencing the payment of all Lens kr public improvements within
runcty (i10) days after the acme shall become due and payable. and to pay or discharge w+ithiu wnety (90) daYt after due date. wy and all
govrrnaxatal levies that pray Ire made on the mortgaged p rty, an Wit mortgage or note, or is any other way resulting trau the 1-durtgagr
indebtedness secured by this ~o~t~age; and lE this caKiitioa be not complkd with and perfaaned, said aroryeagce maY t?aY such sum or surer
which shall Ix~eome part a( the debt securr+d by this mortgage, and shall tear interest at the defauk me pro~•irlyd in said prwnissory note
payable aronthly until paid or said Mortgagee may elect that said aortggge debt thereupon lreconte due and payable forthwith.
9. It B furUrcr covenanted next agreed by said partks that In tbs event of a suit being iastituDed to foreclose this mortgage, the Mortgagee
shall be entitled to apply at any time pending such foreclosuro suit to the court having jtufsdiction thereof for the appomtmdtt of a receiver
of all and singular the mortgaged y, and of all rho rents, incomes, prof~sts, issues arx! revenue thereof, fran w ah tsoever source derived•
next therexrpun it is hereby expr~tcoveaanted and agreed that the court sha0 forthwith appoint a reoeiveY of said mortgaged property, ad
and sIa ,and of such rents. i profits, issues and revenue thereof. from whatsotver source derived, with the usual pourers and
duties teeeivers in like cases; ~ appointment shaD be trade by such court ss a matter of strict right to the Mortgagee; its srsocessors,
Ic representatives or assigns, and without reference to the adequacy a Wadegoacy of the valise of the ~ope~y hereby atortgagexl, or to the
vency or insolvency of the Mortgagor. and that such rent, profits, income, issna and revenues :haD beptpplied by sneL receiver to the pay-
ment of the mortgage inrkbtechress, coats and charges, according to the order of such oomrt. .
1Q if all or any part of the property ~ an iatereat therein is add or tretnferred by mortgagor without mortgagees prior written coaseat,-
e:dudin~{ (a) the creation of a lien or errcumbnnoe subordinate to this atortgage~~ (b) the creation of a purcbtse looney sentdty interest for
household appliances, (c) a transfer by devise or descent, or by operation of law upon the death of a joint tenant, ar (d) the grant of ury
leasehold interest of thnx ye or less not rnntaining an option to purrha:e, gag~et may, at its option, declare aD the swus secured by
this mortgage to be irnnrediately due and payable. Mortgagee shall have waived~suc6 option to aooeknte if prior to the sale or transfer,
mortgagee and the person to whom the Property is to be sold or transferred resrh agreement in writing that t~te cmdit of such person is sat-
isfactory to I-fortgagce next that the interest payahk on the ewers secured by this mortgage shall be at such rate as 1-fortgagce dull 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 Mortgagee shall have dte 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 pa~lrrents last payable thereon.
12. The mortgagor binds 6inuedf nut to erect or permit to be erected any new buildings on the premises herein mortgaged or to add to
or penult to Ire added to any of the ezisting improvements thereon or make any dum~es ar aheralion in said improverttenb which materiaDy
change the same or the use thereof, without the written consent of the Martgag~e, 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 oolkctibk at the optiat of the Mortgagee.
13. It is specifically agreed that time is of the essence of this contract dad drat rto waiver of any obligation hereunder or of the obligation
secured hereby shall at any tune be held to be a waiver of the terms hereof or of the inshnment secured hereby.
14. If foreclosure proceedin of any second mortgage or second trust deed or ay junior Next of any kind should be institutedi the Most-
' gagee may. at its option, immediately or thereafter declare this mortgage and the indaebtedrtas secured hereby due and payable forthwith, and
may at its rprtion proceed to foreclose this mortgage. _
15. To the extent of the indebtedness of the Mortgagor to the Mortgagee _described herein or secwed hereby the 1-lo~rttg~ag~ee is hereby
+ubrogated to the lien or liens and to the rights of the owners and holders thereof of each and every mortga lien or other utcrrmbnrrce en the
land described herein which is paid and/or satisfied in whole or in part art of the proceeds of the loan described herein or secured hereby
oral the respective lieru of said mortgages, liens or other incumbrances shall be and the same and call of them hereby is presen-ed and shah
pass to and be held by the 1lfortgagce herein as security for the indebtedness to the Mortgagee herevr described or hereby secured, to the same
extent that it would have been presenYxl and would have been passed to and been held by the Mortgagee had it been duly and regularly.
asci};ned, traruferred, set over and delivered unto flee Mortgagce 6y separate deed of assignment notwithstanding the fact that the same may
be satisfied and canceU~d of record, it being the intentiar of the parties hereto that the same wiD be satisfieJ and cancelled of record by the
holders Wcreof at or about the time of the rewrding of this mortgage.
18. To pay all and singular the costs, charges and expenses, induding L s fees, reasonably incurred or paid at nay time by the htort-
~ Qagee. Irec:ruse of the failure of the Mortgagor to perform, comply with and abide by each and every the stipulatior-s, agreements, comiitrons,
and covenants of said promissory note acrd this deed, or either, aril every such payment shall bear interest from date at the default rate pro-
' r~~1~) in .sand pramissary note.
~', t1. 1\'hen any aanount of marry to be paid by the Mortgagor to the Mortgagee under the terms hereof shall l,e in default, or sbouW the
~ Mortgagor default in any of the other terms, previsions or conditions of this 1lfortgage, then and is that case cfie alortgager sf,a12 have the
right, without notice to the I-fortgagor, 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 Bee improvements thereon, and to give pro~er receipts and acgnittarrces therefor, erect after
paying all commissions of any rental agent collecting the same, and any reasonable attorneys fees acrd other necti•ssary e:penscs incurrecd in
~•o leering same, to apply the proceeds of such collections upon anY indebtedness, obligation or liability, of We 1lfortgagor hereunder. The
right granted the lliortgagee under this paragraph shall be in addition >o. and shaD not limit or restrict, any other right or rights granted Bee
\forigagee in this Mortgage.
18. If the Mortgagors at the time of making this Mortgage or guent thereto take oat life iracurance designating the Afortgagce herein
as beneficiary with a company approved by the I-fortgagce or assigrass~policies to the Mortgagee for the purpose of securing ~rtgage loam
h~•rc•bv secured, then the Mortgagee shall have the right to pay anx premium accruing order said policies, and all sums so edd shhall be
added to and become a part of the prinn'aal indebtedness senrred by this Mortgage and shall be paid by the 1-tortgagor to the rtnrt¢aeee
in twelve er) real rnnSecrttive monthly insta~llj"ments, the first monthly instalhrrent to be paid as a part of and in addition to the mont}dy payment
due under this Jfortt;afe-in the first calendar month following the espendmg of said sum. Such sums so a:pencled to bear interest at the rate
at which interest is payable upon said principal indebtedness and the lien of this Mortgage shall ertend to and secure tbe sums so rspertded
~ tos:ether with interest thereon as hereinbefore provided.
19. At mortgagee s option, together with and in addition to the monthly payment of p and interest under the teraas of the
note secured hereby, Mortgagor shall pay to Mortgagee each month until said note is 6ufY one-tvvedfW 1/12) of a sum erlual to trite
snnual premium due for fire, extended cmenge, and other hamrd insurance including fioooodd ~msuranoe, ooveritut the nwrtg~a_geedd property,
ph~c taxes and assessments next dire on the mortgaged Property (all as estimated by Mortgagee) Iess aD some already paid therefor. and to be
di.•ided by the number of months to elapse prior to the date when such taxes and assessments skald become delingneat. Said sums shall be
held by Mortgagee in trust or credited to the principal of the loan, to pay said iawranoG tares, and a and sbaA be a
payment thereof when due. Any excess held in toast by 11fort gee when said loan is pplied on the
ggaa paid in fnll_shail be paid to Mort„agor, or his assigns,
or personal representatives. In the event of a defauh or forer4oaure, said sums held in trust may be_applied an any costs of damages sustained
in connection with the collection of the note secured hereby whether by srdt~~Kedoatre, or otherwise. Mortgagee may from time to time at
its option waive, and after any such waiver, reinstate auy or aII provisions regoiriog such deposits, by notice to Mortgagor m writing.
While any such waiver is in effect. Mortgagor shall pay taxes, assessments and inaranoe prend~s as heroin ebew6ere provided.
~ "_0. 1lnrtgagor shall comply with the Qrovisions of any lease, if this m~rtg~ge is on • leasehold. U this mortgage is os a oosdominirmt noit,
i mortgagor shall perform all of mortgagors obligations under the dedaration d ooodomidnm or master deed, the by-Lars and rrguktions of
the condominium project and constituent docrarrerrts. Mortgagor farther ooveaartb that he and the association raponu'bk for the operation
of the condominium well observe a~ of the provision of the said declaration, and asry amendments thereto, and Doff the Godomvamrt Lw of
the state, and will perform all obligatioro thereunder; and a failure to do so which fs Dot cared within 30 days after mtioe givau by the Mat_
ea¢ec to the mortgagor and the said association shall constitute a default under this Mortgagor fnrtber spetifiaDy eovenanb, but rant
by way of limitation. that he and the association wiD observe all of the provision of zs dcdaration of eoridomirrhmt
coverage. rrlathrg to inmranee
21. Mortgagor further covenants and agrees that at the request of Mortgagee to frunish a standard termite Good insrrrisg damage
by infestation on the buildings now or hereafter located oo the mortgaged property, in sncb amormts and terms, and with
approved and required by Mortgagee; and In the event Mortgagor does not oar-ply with thi: covenant Mortgagee shall Gave the 'ygbts
to obtain same as insurance coverage under owenaM *3 hereof.
° 22. That in the event that this mortgage is gfvea to secure a construction failure en the part of the M or the Mortgagors
contactor, architect, engineers. or sub~oaMctors to comply with the terror of the Caostroctfao I.oan_ /-greeaseat of evert date berewrith,
which is by reference incorporated herein, shall, at the option of the Mortgagee, oontitute a defanh hereunder.
23. If the mortgaged premises is other than a one to four family dwelling, the Mortga cavertatafs and agrees that be well, not Lter
than thirty (30) days after the end of the fiscal year furnish unto the Association a ooarplete and aocarate baLnee sheet and profit and loss
statement reflecting the Mortgagor: liabilities as wel~ as profit and loss fa tbe f~iscal_year.and such baLnoe sheet and profit and lose state-
' merit skald be prepared by a certified public accountant lieerrsed io the State of Florida, and shaD be certified as being correct by snob eerti-
fled public aooouataM.
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800 J`t4 PaGf
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