HomeMy WebLinkAbout15616. To pa~[orui, axnply witl~ aud abide by dch ~od ev~- Wp~latiou. ~Sr~~ uaxliUOn ~ua cvveaanl in ~Id prom~ssory aote and deal ~
s°t ~O(L}I.
7. In thc eveat the juris~lictiou of tbe U. S. DisMct Cou» i6a11 be tavokod by or sgaiott the Matbagac_uc-~1c~ aoy of the provi:ions oI ths
F'c.lc~al 8ankruptcy Act. sucb actioa. whether voluntary or Involuntary on thep~r~ o[ the I-fortxaBa. st~~!! autanatically. w,thout uut~cv. a~~
~~I~wta tl~e maturity ot aU swns oE aw~ay hereu~ drsiaibed ~aJ secured and the tauie sl-ap thereupoo become due and paYable (aU~with
a~ fully as if the sa~d at;grrgate :uan oE u~oaey were ori8inally stipulat~ to be paid on suc6 dsts.
8. To delivec b aid MortBalCee. ot~ cx betas Afarcb 15t6 of eac~ year, tau receipts evidencing thepa yment of aU IawluUy imposod ta:rs
tor the p~r~.~ding caleadar yeu. and to deliver to said l~ton~agoe. rctieipts eviJencing tbe payment of all lie~ for public iu~provemeats wU1i-w
oi,~ety 14~U) days atter tbe san~e slull bei.~ane due and payabla, and topa y or disct~a~t;e within oinety (fl0) daya Jtrr due da/e. eny a~Kl aU
Kov~~iuncntal lrvirs that uiay be waJr ou tue awrtbuKed pro rtjr. oa this wortgaSa ur aote. o~ in any uthe~ way tcsulting Erau U,e !-fu~tK•rxr
~ndebtedness secured by this mort~age; aad if lhis ca~dition ~ not coaiplieJ with and perfonned, saiJ mort~tagee n~aY WY ~ch sum ur swm
~.vhich s}~all lrrane part of tl~e debt secured by this nartgage, arxl stwU Ix~ar iaterest at the de(ault rate pro~~drel in sakl pwtnissory uute
payable nwnthly until paid or said 111ortyCagee may elect that said mortKago debt thercupon becara due and pay~ibb Eorthwith.
~-. It is f~~~tl~cr covenanted and agrea! by said pa~ties tbat in tLe event of a sutt being iastitntod to foreclose this mortSaSe. the 1-lortgagce
slu~ll be entidecl to apply at any time pendiug such forec:lusure siut to t6e oourt having jurisdietia~ therrof for the appiatment oE a recei~~ec
of all aaJ sinRular the mortgagc~l pmperty. anJ of all the n~~ts. incaucs, ptoit~ ~ssues aad revenues thereof. from whatsoeve~ source derived•
arxl thereupoa it is hereby e:pressly covenantc~l aaJ ag~ced that the cond sl~all Iwtl~with appoint a reoeiver of saiJ narty;ageJ property. al~
and singular, tad of such rcnts. incomes, Pro[its, issues aad revenue the~eof, fto~an wl~atsoever source derived, with tha usual powers aaci
duaes of receivers in Wce cases; and such appointa-ent shall ba madr by such court as a matter of strict riKht to the I-tortgagee. its suctirsaors.
legal rrpresentatives o~ assigns. aad without refecence to t6e ~dequacy or iwdeqoacY oE t1~e value of the praperty hereby mortgaged. or to the
solvenc~ o~ insol~•ency of 1he I-fortgagor, and ttwt such rent, profits. income, istues sod revenues sha11 be apPlied by suc6 receiver to Ihe pay-
ment of lhe mortgage indebtedness. costs and charQes. acconling to the otde~ of suc6 oourt.
i0. If all or aay part of the property or an interest therein Ls sold or irani[en~1 by mort8a8or without mortga~ee's prior written consent,
excludin ( a) the ereation of a lien or encumbrauee sulwrdinata to lhis mort~age, ( b) t6e ereatioa of a purc6ase nwney sec~rity inten~st for
ho~~~cho~ appliances, (c) a trans[er by devise or descent, or by operation oE law opon the death of a ioint teaaat, or (d) thc grant of any
leasehold interest of three ~esrs or kss not containinx an option to purchase, mortgagee may. at itsop tion, declare all d~e su,~u securecl by
this mortAa~.e td be immediately due and payable. I~lortgagee shall have waived snch uption to secelerate if prior to the sale or transEer,
morty;aRce and tt-e person to whom the properiy is to be sold or transfeRad reach agreement in writiag that t~e eteclit of such person is aat-
isfactory to Mortga~ce aral lhat the interest payable on the sums secured by this mortRage shall be at such rate as Atortgagee shall rM~uest.
11. That in ihe event the premises hereLy mort~aged. o~ any part thereof. st~all be condemned and takea for public use under the power
oF ~mincnt domai~, the I~fort~aeee shall liave the ri1;ht to dem.lnd that sll damages awarcled for the taking ~ or damages to said premises
sh~ll be paid to the I-iortgagee up, to the amount then unpaid on this mortgage and at the option of the I~tortgagee may be applied upai
th~• payments last payable t6ereon.
IZ. The nwrty,agor binds hinueU not to erect or pern~it to be erected any new buildia~c on the premises herein mortgagecl or to add to
or pennit to ix added to any of the existing improvements tLe~on or make any chan a or alterations in said improvements which materiaUy
change tt~e saine or the usc thereof, wilhout dic written rnnsent of the Mortgagee an~ ia the event of any violation or attempt to violate this
~t;pulatio~ this mortRa~e and all sunu secured hereby shall immediately becoa~e ~iie and oollectibk at the option of the I-iortgagee.
13. It is specifically agreed that time is of the essence of this contrad and that no waiver of any obligation hereunder or of the obligation
.rcured hereby shall at any timr be lield to be a wai.~er of the ternu hereof or of the i~tcument securecl hereby.
14. lf foreclaaure proeerclinKs o[ any second mort~a}~e or secpnd tr,ust deed or any junior Uen of any Icind should be inctituted, the 11iat-
~a~:ee nwy, at its option, imn~iately or thereaEter declare this mortgage and t}-e indebtcdness scc~~red hereby due and payable forthwith, aod
may at its optioa proceed to foreclose this mortgage.
15. To thc extent of the indebtcdncss of lhe \tortgagor to the I1tortpatsee desc~ibed herein or sec:ured hereby the ~lodgagee is hereby
ubrop,ated to the lien or liens and to the rights of the oW~ners and holclers Wereof of each end every mortgagc L'en or other incumbrance on the
land dESCri}xd herein v-liich is paid and/or satisfied in whole ur in part out of the proc~ecds of lhe loan described herein or securecl hereby
and t4-e respeMi~r liens of s~id ~nortKa •es, liens'o~ olher inc~unbrances shall E-e and the same and each of tliem hereby is preserved and shal~
pass to anJ be heW by Ihe \iortRaKee ~emin ac security for lhe inclebtedness to the MortgaRee }-erein described or hereby sec~ reJ, to tl~e same
~>ttent tiiat it w~ould have Ixrn presrrv~rl arvl a~ould have txcn p~sed to and been held by the MortyCagce had it been dWy and re~;ulady
.~c~i~ n~d, transferr~d. set o~•er and cleli~~ered unto t{-e 1ltortgagce by sepuate deecl of assiqnment notwithstandinq the fact that the same ma~-
be satisfircl and cancell~~ o( recortl. it hein~ tbe intention of the parties hereto that the same wiU be satisfied and cancelled of record by the
hoWers t}-errof at or about the time of the recorJinK of this mwtp,aqe.
16. To pay all aad sinquLlr the costs, charqes and eupenses; includinq lawyers fees, reaconably incurred or paid at any time by the Atort-
~acce, 1-e~ause of the (ailure of the iltortKaKor to per[orm, comply wit6 and abide hy each and every the stipulations. agreements, rnnditions,
and co~•enants of said protnissory note anV this deed, or either, and cvery such payment shall bear interest from date at the de(ault rate pro-
~~idril in said promissory note.
~~ 17. ~Vhen any amount of money~ to be paid by the I-tortgagor to the I-fortRa~ee under the temu hereof s6all be in default, or should thc
; ~fort~;aKor default in any of the other termc. provisions or conditions of this ~tortgage, then and in that case the Alort agee sl~all ha~~e the
ri~ht, without notice to the ~tort~agor~ to rnllect and receive from any teaant or lessee of said mortgaged premises ~ reots. iss~ies and
profits of the real estate hereby nwrtRaged and the improvementt therean, and to give pro~er receipts and ac~uittances therefor, ancl after
pavins: all rnmmissioat of any rental agent collectin~G the same, aad any reasona~le attomey s fees and other t~eccssary e:penses incnrrecl in
' ~ o1l~~ctinK same, to apply the procee~ls of such collections upon any indebtedness, obligation or liability, of the 1-iortgagor 6ereur~der. The
~~ ~icld tiruntecl the I-iort~aqce under tt~is paragraph shall be in addition to, and shall not limit or restrict, any other right or rights granted the
4 \tort~;a~ee in this Mortgage.
` 18_ If U~e \(ortKagors at d~e time of making this I-lortgage or subs-qucnt thereto take out liFe insurance designating il~e \tortp,agee herein
~ ic t~eneficiary K•ith a company approvecl by the \tortRagee or assigns poL'cies to the MoRy,aAce (or the purpose of securin~ the mortgage loan
h~•rcby srcnrecl, then the :11ort~a~ce shall have the ri~ht to pay any prrmi~un acrruing under said policies, and all sums so eapencled sha11 be
~ a~l~led to arN) Ix~mme a part of the principaI inclebtedness secumcl l~y this I-tortqage and shal) be paid by the Mortgagor to t6e ?~toriiCaRee
~ ~+~ tK•eh•e e~ ual rnnsecutive monthly installments, the first nx~ntWy installment to be paid as a part of and in addition to the monthly payment
clue urnler t~is AtortLat~e in the lirst calendar month follmving the e~ending af said sum. Such surnt so e:pencied to besr interrst at the rate
j at which interest is payable upon said principal inclebtedneu and thr lien of this Mortgage shall eztend to and secvre the sums so e:pended
tocethcr with interest thereon as hereinbefore provided.
19. At mortga~ee's ~tion, to~ether with and in addfdon to the uw~thlYpa yment uf principal and interestpa yabk under the terms of the
note securrd hereby, Mortgagor shall p~v to riortt~agee each month ~mtil said note it fullp pa~id. one-twelkh (1/12) of a sum ual to the
re
annual premium due for fire, e:tendecl~cmerage, und other_ha~ard iacurance includinq flood i~rance, coveriaK !he nwrtgag property.
plus ta~rs and assessmeou ne:t due on the mortgaAod property (all ac estimated by Atortgagee) less all s~mc nlrcady pai~l therefor. aad to be
di~~id«i by the numl~er of months to elapse prior to the date wl~en such ta:ea and as~sments shaU F~ecort~e delinq~t Said s~ms shall be
~ held by rlortgagee in tnut or creditec) to die principal of the loan, to pay said iasurwce, t~es, and aaessments and shaU be applied on the
payment thereof when due. Any e:cess heW in tnut by 11~ortgagee when said loan is paid in fWl shaD be paid to Mortzagor, or his assigns.
g or persona) representatives. In the event of a default or forocbsure, said sums hdd in Uust may be applied on any costs of damages s~utained
~ in connection with the collection of the note secured 6ereby whether by suit forodosure. or otherwise. MortRagee may from time to time at
f its option waive, and after any such waiver, reinstate any or all provisioas ~ereof reqtrirln8 such deposits. by notice to ~iortgagor in writing.
i ~t'hile any such w-aiver is in effect, Alortgagor s6a11 pay tues, assessmQ-b and it~snrtnce premiu~ as heretn elsewbece provided.
' ~0. !-tortQaeor shall comply with the pmvisions of any lease, if this mortg~ge is oo a lease6old. If this martgage i~ on a oondominium unit
~ mort~~or shall pedorm s11 oF mortqagors obligations under the declaratioa of ooodamininm or master deed, the hy-laws and regulatio~u o~
~ the condominium project and oautituent docnments. 1liort~agor further oovenants th~t he and the sssa,~iaHonr~po~ ibk for the operation
' of the aondomininm will observe aD of the provisiaas of the said declaratioo and any amendments thereto. and of tlie Conclominium law of
~ the state, and will perform aD obligattons thereunder; and a faflure to do w w~ich is not cvred within 30 ~da~s aher ootice gfven by the I-tort-
e.~eee tn the mortfCaRor and the saiJ as~ciation sha11 constitute a defa~ under this mortgage Mortgagor fnrtl~er specifically covenants, but not
by way of limi~ation. that he and the associaHon a-iIl observe all d the provisians of said declaraHon oE condominium relaHng to insnrance
coveraqe.
~ 21. Martgagor further ao~venants and agre~s that at the roquest of Mortp,aRee to furnish s staodard termite bood insuring a damage
~ by infestation on the bufWings now or hereaher located oo the mort8~8~ P . in such amounts aad temu. and with compwy as
~ approved and required by !lfortgaAee: and in the event Mortp,agor does not ~ with this covenant Mo~tgagee s6a11 have tLe ~u righb
to oblain same as iasurance ooverage ~ader oovenaM ~3 6ereof.
~ 32. That in the eveot that thLs mortga8e is givw to secure a coastn~etloe ben (ailure oo tbe part of t6e MortgaRm or the Mortgagors
contractor. architect, enRineers, or sab-oootncto*s to comply with the temit of t~e Constn~tion L.ovo AAreement of even date herewith.
f which is by reference incorporated herein, shau at the option of the M ortp,~gee, ooastttnte a defaWt 6ereunder.
F
23. If the mortgaged pcemises it other than a one to four family dwcllinA, the ~tort agor covenants and aqrees that 6e will, not Iater ~
than thjrty (30) days after the md of the Eiscal ycar fun~ish unto U~e Assoc3ation a camp~e and acrurate balanoe sheet and profit ancl laas
statement nfleMing the Mortgagor's liabilities as wcl~ as profit and loss for tbe fiscal year, and sucb balance sbeet and pro[it and bu state-
ment shaD be prepared by a cettiEied public acco~mtanl l~censed in the State of F1orida, and s6a11 be «rtifiecl as being correct by snch certi-
~ F~~ pu~ .~~. ~,K 347 PA~f 155~ ~~
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