HomeMy WebLinkAbout2229If Mortflapee exercises such optfon to accele~ate, MoNpaflee shall mail Mon9aflor ~otice ol accelsratfon by deposili~q
said letter in the United States Mail, postage prepaid. to the followinp address:
3100 Fruitt Road ~ 208G, Pvrt St. Iucie, F1a. 33452
Such notice shall provide a pe~iod ot not Isss than lhiNy (30) days trom the dats ths notice {a mailsd~ within which Mortpa~or
may pay the sum dectared due. lf Monga~or fails to pay such sums prlor to the expiration of auch po~iod, the loa~- shail b~ In
deiault and Monpepee may, without iurther notice or demand on Morlpagor, invoke any remediea as provided tor he~ein upon
the event af default.
Any waiver of any payment under the Note or Monflape at any_time ahali not, al any other time, be taken to bs a waiv~r of
the terms of the Note or Mortgage, and the acceptance of payme~ts upon said indebtedness ahaN not conatituts a waivK of
the option of the Mortgagee to accelerate the indebtedness as provided for herefn.
12. If a conveyance should be made by the Mongagor of the premises herein described. or any part thereof~ and should
the grantee o~ any subsequent g-antee under said conveyance, who has assumed the mortpa~e and Indebtedness. b~ in
delault by vinue of a breach of any of the provisions of this Mortpage or the provisions af any aaaumption ayreement witA tM
Mort~a~ee. whether or not said assumption agreement modified the terms of the mortsa9a and indebtedneas~ then and
theretore. the Mortgagor hereby consents to assumption and the provisions sf any assumption a~reement with ths Mort~a~N.
and to any modifications of the te~ms ar provisions of the mortgape and indebtedness occasioned by said aaaumption apna
ment and does further hereby grant the Mortgagee the ~ight ta grant extensions of time to aaid 4rantee without ~oliticalion of~ -
without the consent of, and without atfecting the liabitity of the originai Monflaflor, or any subsequent MortQa~or.
13. When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof shsll bs in default.
or should the Mortgagor default in any of the other terms, provisions or conditions of this Mortflspe, ihen in that case ihe Mwt-
gagee shall have the right, without notice to the Mortgagor, to col{ect and receive from any tenant or tessee of said mortqa~ed
premises the rents, issues and profits of the real estate hereby mortgaged and the imp~ovement thereon, and to 9ive proper
receipts and acquittances the~efor, atter paying all commissions oi any rental agent collectinp the same~ and any reasonable
attorneys' fees and other necessary expenses incurred in collecting same, to apply the proceeds ot such collection upon any
indebtedness, obligation or liability; of the Mongagor hereunder. Tt~e right granted the Mortgapee under this parayraph shail
be in addition to, and shall not limit or restrict, any other right or rights granted the Mo~t~agee in this Mo~tga~e.
14. That in the event the premises hereby mortgaged, or any part thereof, shatl be condemned and taken for puDlic uss
under the power of eminent domain, the Mortgagee shall have the right to demand that all damages awarded for the takinq of o~
damages to said premises shall be paid to the Mortgagee up to ihe amount then unpaid on this Mort~age and at the option of
the Mortgagee may be applied upon the payments last payable thereon. -
15. The Mortgagor binds himself not to erect or permit to be erected any new buildi~ys on the premisea herein mortflafled
or to add to or permit to be added to any of the existing improvements thereon or make any changes or alterations in safd im-
provements which materialiy change the same or ihe use thereoi, without the written consent of the Mort~aqee. and in the
event oi any violation or attempt to violate this stipulation this Mortgage and all sums secured hereby shalt immediately
become due and coliectible at the option ot the Mortgagee_
16. It is specifically agreed that time is of the essence of this contract and that no waiver of any obligation hereunder or ot
the obligation secured hereby shall at any time be held to be a waiver o( the terms hereof or of the instrument secu~ed hareby.
17. If toreclosure proceedings of any second mortgage or second trust deed or any junior lie~ oi any kind should be inati-
tuted, the Mortgagee may, at +ts option, immediately or thereafter declare this Mortgage and the indebtedness secured hereby
due and payabfe forthwith, and may at its option proceed to fo~eclose this Mortgage.
18. To the extent Of the indebtedness oi the Mortgagor to the Mortgagee described herein or secured hereby tf~e Mort-
gagee is hereby subrogated to the lien or liens and to the rights of the owners and holders thereof of each and every mortflaye
lien or other encumbrance on the land described herein which is paid andlor satisfied in whote 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 encumbrancea shall be
and the same and each of them hereby is preserved and shall pass to and be held by ttte Mortgagee hecein as security for the +n-
debtedness to the Mongagee herein described or he~eby secured, ta the same extent that it would have been presensd and
woutd have been passed to and been hefd by the Mortgagee had it been duly and regularly assigned, transter~ed. set over and
delivered unto the Mortgagee by separate deed oi assignme~t notwiths+anding the fact that the same may be satistied and
cancelled of record, it being the intention of the parties hereto that the same will be satisfied and cancelled of reCOtd by ttU9
holders thereof at or about the time of the recording of this Mortgage.
19. To pay a!1 and singular the costs, charges and expenses, including lawyer's fees, reasonably incurred or paid at any
t~me by the Mortgagee, because ot the failure of the Mortgagor to perform, compty with and abide by each and every the
stipulations, agreements, conditions, and covenants o( the Note and this deed, or either, and every such paymer-ts shall bear
;nterest from date at the same ~ate as the mortgage nate. -,~
IN WITNESS WHEREOF, the said Mortgagor hereunto sets his hand and seal this the day and year first above written.
Sign d, sealed, and detivered in the presence of:
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:
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R. RAPP
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rt. Lot~-rrA x~ ' ~`~'
(SEAL)
(SEAL)
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