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Home My WebLink About0672ull nR~eements belween the 111oriR:~gor :~nr1 MortgaRee rci:~tinR to inxur:~n~~e, now ~~xistinR o~ hercatter m:~de, ahall he in writi~R and ahull be ~ ~~nrt ot this mortK:+Re ngreement ua tully as thouRh w~t totth vc~lw~tim herein a~nd +hr~ll govern bolh partiea herelo nnd lhei~ sun•esvors and usaigns. No lien urx-o :~ny ot ~~id ~x-lii•iea of insumncc o~ u~x~n any rntund or return premium whi~h may be ~-ayable on Ihe c:~m~elli~tion o~ termin:~tinn Ihercuf, shall be Riven to uther Ihan the Mortgagee, except bv proper endoraement affixed to sui•h ~~olic•y und appmvcrl by MortRaRee. F ni•h ~x~li~•y o( insurance ahall hnxe affixecl thereto a Sta~darc) MortRaRee Clai~ve ti~Y•eplable to the MnrIK:~R~~e, makinR adl lo.tiv or lo.lsex unde~ such policy ~~iynble to ti~e Morig:~~ee :+s its interest muy up~xa~. ln the evenl uny sum or aums n( muney F-emme ~u~yt~ble thernunder the Mortgagee shall h:~ve the option to receive s~nd a~~ply Ihe w~me on :u~v~unt ot the in~lebtednewa hemby securnd, or to permit Ihe Mortgs~gar lo receive und use it, or any~ ~~:~rt Iherc~f, withoul ther~y wuivioR or im{~:~irinR any equity, lien or right under .+nd by virtue ot this mortR:~Re. In event ot lo.tiR or physit•:~I~ d:~m:~Re to the mortR~~R~ prope~ty !he ~lortg.~gor ah.ill Qive i~nmc~cliate notice ther~-( by muil to the MortR:iRi~ ~~nd the ]11ortR:~Ree m:~y m:~ke proot ot.loss it the ~me is not mnde prompUy by the Mortg.~gor. In ev~nt ot (urcr•losure o( lhis m~rtRaRe or other trnnster of tide to the mortgs~ged pmperty in extinguishment ot the indebtednc~4 ~•urc~ herehy, aU right, tiUe :~nd inter eat ot the MortgaRor in and lo :iny insumnce ~x~lieies then in tome shaU ~~:~c4 to the pun•huser o~ RmMee. l)pon any de~aull thereof, the MortR~Ree may Ibul without ob1iR:~tion on ils ~-arl lo do w-) plair i~sunm~r on ~u~•h huildinRs ~nd pay the premium and charRe such sum:e w- ~~;~id ~o the h1oNRagor :~nd sui•h xums ot money :x~ ~~;iid sh~dl tx:~r interc~l trom lhe date of ~~ymenl at Ihe highest legal r:~te. 4. That all sums of money ~-:~id or cauxcYl to i~e ~-:~id hy the h1ortgaRcr undcr Ihe Ierma o( Ihis morfR:~g~ and herein s~xrifi~ally pmvidecl (or, :~~d including any ex~~enai~s ineurrcKl by the M~~rIR:~Rcr in ~o1lErtinn ot the sum ur•urc~l by fhi~ morlgage, shall be covercYl by the lien of this m~~rtgage, the a:~me :~a the sums of money repreuMcY1 by the note which this mo~tRaRe aecures. 5. To permit, commit or cuRer no w:~ste, im~wirment or deterioration o( w~id prn~~erly, or any ~k~rt thereof, and upon the tailure of the IVIortRaRor to keep the buildinAs on s:~id pm~~crty in R~xwi condifion of re~wir, the Mortgagee may demand the immecliate re~~nir ot said buildings, or ~n inrrease in the :~mount of ~•urity, or ihe immeciiate re~ay- menl o[ the debi hereby secured, and the failure ot !he MortRaRor to iY-mply with s~id demand ot the Mortgngee tor n period of 6tleen ll5) days sh:+ll ennstitute ~ breach of this mortgaRe, and, at the optian ot the MorlRaRee, immediately mature lhe entire un{~.~id princi~~:il :~nd interest hereby sn•ured, and the I~1ortR:~Rer m:ry, without notiir, institute pm- ceedings to [oreclo~ this mortgage, :~nd apply tur the ap~~ointmenl ot a re.river, :~s h~mina(ler pmvidcYl. 6. That the Mortg~Ror hereby Pn,mi~es, i»venant~ and aRrc~ to ~,:~y the sums ot mone•y :~nd iMcrest as mentionec! in a~id promis~ory note, toRether with ~ny and all other sums jusUy du~ :~nd ~.winR the MortRagee by the term.4 therein, and secured to he ~~aid as statecl therein pmmptly when due. It de(aull gh:dl Iw made in the ~~:~yment uf the s:iid surns o[ money or any ~xirl thereot :~s providc~ in the s:~id notr ur this mortK:~R~, or it the inlerest that m.~y bei~me due thereon or any part thereo[ sh:dl Me in default :md uo~~:~id (or a a~~:~cr ot fi(teen 115) da~ys, or should the MorlgaAor breach or fail to rnmply with any other coven:mt or aRreement on the ~-:~rt ot lhe MortRagor to be irmplird with lin those cases in which fhe option ot the TlortRaRee ot :ureleratio~ is not Mherwice exprescly ~imvidcYf herein) and such brea~•h or non-compliance ~-ontinue in existenir tor :~ s~~:ur of fifteen 1151 days, then and (rom theni•eforth, at the option of the Mortgagor, the whole ot s:~id principa) sum expm.su~! in c~id note, toRether with aU Mher sums therein as vrel) as herein provided for, shall become immediately due and ~u~yable. without notice to the w~id MortRagor. 7. Th~t in case it should bec•ome nee•cKx~ry to place this mortRaRe and th~ n~ite sec•ured hereby or either of them, in th hands of an attorney for mllection, the w~id ~tortRaKor i•ovenants :~nd aRrc~ with lhe MortRaRee to ~uiy all costa, charges and expenses ot such cnllertion, in~•Iud~nQ rr.~w-nable :~tlorn~y's fPCS whMhrr rn11EV•t~K1 by (oreclo,ure nr otherw~se. 8. That, in the event any suit is brouRht u~x~n this mortRnRe, wheth~r to fore~•lose it, to retorm it, ur ot:~erwise, and/or to entorce paymenl ot :~ny elaim hereunder, thP MortR:~Rcr m:~y a~~{-ly to :iny court havinR juriscfic-tion thereoi for the appointment of a receiver of s:~id mortRa~ed pro~~erty, JS N'CII as the inrnme, profits, issues ared revenu~ thereof, and the said income, profits, isgue.r and revenu~s are hert•by mortRagcrf as it s~~•ificall~ set (orth and dew•ribcYl in the granting and habendum c•lauses hereof, and such rereiver shall h.~ve all the broad :~nd eBcrtive tunctions and pow•ers in any wise entrusted by a rnurt to a receiver, and surh ap~~intment sh:ill Fx~ ma~1e hy such rnurt as an admitted equity and a matter ot absolute riRht in the ~iortRaRcr, :~nd withaut referenrn to the adequ:~~y or inadequacy of the value o( the property mortgaged, or to lhe solvency or ins~~lvency of the MorlRaRor and/or the de(pnd:~nt and such rents, pmfits. income: issues and revenues shall 6e applied by the recriver a~mrclinR to the lien and/or equity of this mortRaRe and the practice ot such court. :~nd such apix~iMment ot rereiver shall t~e without noti~•e to :iny obliRor hereunder_ 9_ The Mortgagor hereby waives ~11 riRhts of homestead and exemption Rranted by.-the ('onstitution and I~ws ot Florida_ It is s~•i6cally aRreed that time is o( the e~senc~ ~n this irontract and that nii waiver by the 111ortgagee of any obligation hereunder ~r of the obliRalion secured hereby shall at any lime therea(ter be held to be a waiver of the terms hereot or o( the obligalion serurecl hereby- 10. That in the event that this mortgaRe be Riven to sec•ure a ~Y~nstructi~n (u.in, tailure on the ~k~rt of the 111ort- gagors or their contractors to rnmplete said huildinR in accord~nee with Construction I.oan Agreement, ot even date herewith, or to build s:iid construetion in a~•cordance with pt:ins and s~~ecifications ftlerl with the MortRagee, shall con- stitute a bre~ch o( this mortgage, and, at the option ot the MorRagee, immecliately mature the entire amount ot princi- pal and interest hereby secured and the MortR:~Ree may immediately institute prrx•eedinRs to (oreclose this mortgage. 11. It foreclosure proceedinRs ot any sec»nd mortQ:~Re ~r second trust deerl or any junior lien of any kind should be instituted, the Mortgagee may, at its option immediately or thereatter declare this mortR:~Re and the indetx~lness secured hereby due and payable. 12. That in the event the premis~ hereby mort~:~RcYf, or any ~~:~rt therchf, shall be rnndemncYl and taken for publi~ use under the power of eminent dom:~in, the MortRaRee shall have the riRht to demand that all damaRes awarded (or the takinR o( or damaRes to said premises sh:~ll be p:iid to lhe 111ortgaRee, up to lhe amount then unp:+id on this mort- gage and the obliRation securecl hereby :~nd m:~y t-e ~pplieci upe-n the {~:~yments I:~st ~x~yable under lhis mortgage and the obliRalion secured hereby. 13. 7'hat installments. ~x~yable under the termc here~f :~nd the note securc~f hereby. not ~-aid w•hen due, ghall t-r subjec•t, after fiReen I151 days from the date thereo(, to, and it ig :~Rrec~1 A1ortRaRee sh:ill rnlle~•t thereon :~nd therew•ith, a"late charRe" in the amount of four i~er ~~ent 14',';,- of the iovtallment due u~~n e.~ch suc•h delinquent installment, and such "late charges" are secured by Ihe lien hereof. E -on to the pur~wses therent inso(ar as the s:ime shall 1-e su(ficient, 111ortRaRor shall, in a s o principal and interest as stated in the oriRinal note i• r-o es ~v-urc~ herebyl providecl to be m~de. ~~ay a monthly sum and ~ - w•e f 11/12) of lhe c~timated :~nnua) taxes, a~.geaaments and inaurance pre- ~ ' P ~.. ~ 8~~~346 P~CE ~~Q ~