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HomeMy WebLinkAbout2227accuunt tu puy su~•h ~•h:~~K~'~ r-'h~•n due shall IK• ~u~id hy Aiurtg:~~;or tu Murlg:~K~~• un d~•muud. I(. by n~:~u~n ul :~ny d~•I:u~ll hy Mortgagor und~•r :~ny pnn~ision ui this 111urIK:~Ke, Alurtg:~K~ti~ dei•I:~n~ a~ll suma e~•umd heml-y tu I~e duc• :~nd ~-:~ya~bli•. AturlR:+g~~ m~~y then up~-ly :~m ru~~i.~ ~~ w~~~i a~yc,unt aR:~i~~+t th~- ~•ntim indrht~~ln~~c, ~uy•un~cl h~•reby. Th~• ~nlun•e:~bility u( the cuvenanix rel:Uing to 1:-x~ae. :~wr~:.co~enl~ and insumnir premiums herein otherwisr linividetl shall nol i-e :~tfei•teKl ex:•epl in.w~fa~ as those ubliguti~~ns ht~~~e Ir~rn mel hy i•omplia~~•e wilh thi~ ~K~r.~Kn~ph. MorIK.~Kc~ nu~y Irom time to limr al its uption w•ai~r, und u(ter any su~•h M:~iver ~einslate, uny ur all pn~vis~o~u hr~ro( n~uirinR su~•h dN{~usits, I~y notii•e lu A1ortK:~Kur in vvriUng. ~Vhile :~oy :+u~•h wa~i~•~•~ is in ~•tf~~•l. MorlR:~gu~ tih.~ll ~W~y tus~w, :~~:w•s+menls :ind in+ur:~n~r ~,rcmiua~x :~ti h~~min rlsewhere pw~•idecl. d. 7'o prompUy ~-:ry all tax~w und :~sse..uu•nt. a~w:cwrl ur I~;vird under vnd b~• virtu~• ol :u-y st:iti•, I~vl~•r.d. ur mw~i~•i~r.~l laK• ur n•gul:~tion hema~te~ ~~:~a+~rl, aK:~ins! A1urtKaKiY• u~-un th~s A1orlKaKN ur th~• debt hemby s~~~•unYl, ur u~x,n its interest under th~s A9ortg:ig~•. 1-rovid~~cl however. that Ihe tot:~l :unuunl su p.~id (or any ~uch t:~x~y {-unu:~nt to Ih~s ~-:~r:~~;ra~~h tu~~•th ~•r with th~• interest puy:~hla• un viid indebt~Klw:s~ sls~ll nut ex~•~v~l thr hikh.•st L•~wful r.di• ol ~nten•st ~n Flurid:~ :wd E~ru~•~d~•d furth~•r that in the e~~•M o( thi• ~~:~+~:~ge uf any su~•h I:+w or n•gul:itiun im~-usinK :~ l:~z ur :i+~ti.•.smi•nt :~1;:uns1 ,\1urIK:~R~r• u~-- un thiti 11orfKaK~• ur ~h~• di~bt ur•unrl her.•by, that th~• enhn~ indi•I,d~vln~•s.. w•~•urwl hy Ihi. Alurlkak~~ .hall Ih~•fPU~NHI iN• ~•ume imm~luU~•ly due and ~w~yablr at lh~~ optiun u( MorttiuKcr•- 5. '1'o k~r~- the l~turtKaK~~ci i'n~~xrty insurc~l aK:unst I~~ti~: ur damaRe I~y (in•, :u~d all ~x•nls ~n+un•~1 aK:un.t by :~n cx- t.•ndrd ~•uc.•r.~K~• ~•ndors~•ment, and tiu~•h olh~~r ritiks :~nd ~N•rils ar Mor~K:~K~~c• in ets diti~•mtion m:~y nY~iun• 7'h~~ ~H~li~•y ur ~N~li~•ic~: o( surh insur:~n~•t• wh:~ll t~ in the form in ~;rner:il i~rc~ trom lim~• tu iimr i~ thi• loc:~lity in v~hi~•h Ih~• A1ort~;:~KiY1 t'ro~H~r(}• i~ situ:N~r1. shall IM• in su~•h anwunl as A1ortK:+Kiy~. m:ry ma+un:d~ly~ n~~uin•, shall IH• ~s.tiuwl by :~ ~•um~r.~ny or ~~umpan~~w :ippn~virl by ~1ort~;aK~Y•, and vhaU ~•ot~l:un :~ st:~nd:~rd mortKaKiY• i•laus~• ~:ith (~~+s payahle tu T1ort~;aKtv~. ~~'hi~n- i•~e~ n~~wn•cl 1~~• ~lurtKa~;~~•, wc•h {N~li~~i~•+, ~Fcill In• di•li~~•n~! irum~~liatrly to .~nd h~•Id h~ Morty;aR~•~~. Any and :JI :+m~~unt+ nY•riv~yl b~• ;11urtK:~xw~ uudrr :~ny u( sui•h EH~Ii~•ii:t tnaY 1K• apphtYl by \lurtg:~Kiy un th~• indi~bti•Jn~~s+ uK•un~1 h~•mby in su~•h manurr as \1orlKaK~Y• may, in its vul~• d~w•mtiun, el~•i•1 or, at th~~ optiun ot Morl~;aKe•i•, thc entir~• amount s~~ n~~•e~c~ti1 ur any {~art th~•nY-f may IM mlrasc~cl. N~•ilhi•r thi• appli~.diun nor the n•!~•au~ ot any su~•h :~muunts shnll ~•un• or w:~ive :~ny dc•tault. lt~wn ex~•n•isr of the ~w~wc•r u! s:~l~~ Ki~•~m in Ihis \1ortK:tKe or ~~th~~r :u•qui~ition n( thr 111orIK:~Ki~1 Pro~x~rty ur uny part th~•n•- of h~~ AlorigaR~~, +u~•h ~N,li~•i~w sh:~ll iati~u~m• the :~i~~lut~• pn~~x~rh• o( 111ortg:iKE•.•. ~i. To fir5t ubtain Ih~• w~itti~n ~•unu•nt uf ~1ort{;aRiti•, surh ~•uns~•ut tu ih• kr.~nl~vl or withhrld :~t thr .ul~• d~~•n•t~un nf ~turtK:~KcY~, I~t•(om lal n•ino~~inR or drmulishinK :~n}• huildinK nuw• ur h~~n:~lt~~r ~•n•~•tiYi on thr ~,n•nu+~•s, Ih- :Jtrrin~; th~• :~rr:inK~~mc•n(. dcsiKn ur stnu•tur:+l ~•har:u•tE~r thrrrof. Irl makinK any n•E~:~irs whi~•h im~uh•r thi• rrmu~:J uI stru~•tur.~l ~~:~rts nr the ex~wsun• of th~ interior o( tiu~•h buildinQ t~~ the i•lem~•nts. Idl ~•uttinK or rc•movinR or ~x•rmittinR fhc• ~•uttinR ~~nd r~~- mo~:~l n( a~v tn~~s or limtx~r on the~ 111ortK:~KcY1 Pnqx~rty. Ic~l mmo~•~nK or ex~•hanKinK any tanRihlt• ~N~rM~nal pro~x~rly whioh is {r.~H uf Ih~• ~tortK:~KiY1 1'ru~x~~ty. ur If 1~•nlt~nn~; ~nl~~ ur m~Nl~fyin~; :u~y I~:~w , o( th~• ~turtK:~KwI Pru~N•rtp. ?. "1'o m:~int:~in ih~~ ~1ortK:~K~v1 Yru~K~rly in K~NKI ~•un~h~ion :ind mEr.ur. in+•IudinK but nut li~n~t~ti) to th:• ~n:~kinK oi su~•h nyr.urs a. ~1ortKaKiY• may (rum tim~• t~~ timf• drlt•rmini~ lo IM n~•i•~•~~~ry (or the pn-s~•n:~tion o( thc~ titortKaK~~1 f'rn~x•rh• and lu nuf i•ommit or ~K•rmit any ~aslr fhi~n~~(. K'I~u ~•umply ~ailh :~11 law~, urd~n:~m~~•., n•RULdiuns, i~o~~•n:inl~. ~•un~l~t~un~ and n•~Incl~~~nti :~Ur•~•t~ny~ th~• \1i~rtk:~{;w1 }'ro~N•rty. :~nd nut tu suUi•r ur ~N•rmit :~n~• ~wlalwn thi~ny~(. 4 1) \1urtK:~Kur I:~ils tu p:i~• :u~y ~~l:um. lu•re ur i•n~~umhr.~n~•~• whi~•h i. ~u~N•n~~r t~~ this ~1nrtKak~•, ur ~h~•n +lui~. :~n~- t:~x ur a.w~~..m~•nt ur uisuran~•r pnmuum_ ur tu k~•e•~~ fh~• ~turt~;:~Rwi Yru~x•rty ~n rrp:ur. nr shaU ~•omnut ~~r ~H~nnit H:~tit~•, or i( th~~rn tx~ i•umm~•ni•eNl any :u•tiun or pnN•irylinK :~Ifiti•t~nK th~• \1ortK:~K~~1 Yru~w•rt~• ur thi• title thr~n•to, ur th~• inlemst n( ~iortK:~Rt'~• then•in. ~n~•IudinK. but nol limit~vl f~~, ~~~ni~~•nt dum:~~n and i~ankruptry ~~r m~~rR:~nir.+lion pnNVrd-n~;x. lhi•n ~1ortK:l~;kY', .it its uption, mae• ~r.~y s:ud i•I:+im, li~•n. ~•nrumhran~•~•. lax, a+,r~..~n~•nt ~~r ~~mm~um, with riKht u( ;ubruxation th~•mundrr, m:iy m:~kt~ su~•h n•p:~irs :~nd t.~kF~ .u~•h sti•ps :i. it d~~~~mx ad~~s:~blr tu pmc~•nt ur ~•un• sui•h ~+•asti~, :~nd m:~y ap{k~ar in :~ny tiuch .ictinn ur ~~nH•.~.~1~nK :~nd ret:iin ~•uunu•I Ifi~•rein. and tak~~ surh :~i~tiun th~~re~n :~s \1ort~akw• dt~~ms ad- . ~ ::::::--_ ...~ . ..-,i.. ...~....;...••. ~is:~ble, and fur :u~y of su~•t~ {~urEr~sc•s i~iunKaK~r ~n:~y :ui..un .• ~u~ n .o~u. ... .~~.,:..-~_ .r.. ,.F .. . ;;:;t:, ~::::::^.. .. _ . ferw .+nd other items ut ~•x~w~nx• ac rt~I~K•n-s ni•~•~:c,:~r~'. ~1urtKakw• ~h:~ll IN• thi~ sule• ~udKr o( th~• 1~•K:~lih•. ~~alidity and ~-riuritp u( anv sui•h ~~laim. li~•n, ~•ni•umhr:u~~•e, t:u. asst:ti.tim~~nt :~nd ~~n•miutn :~ud ~~( th~• amuunt n~~rt•~.:~ry tu Ix• paid in ,:~ti~l:~i•Uun thi~rruf. ~1urtKaKiK~ .h:~ll not IK~ ht•Id ar~-uw~lahl~• f~~r any d~•la~• ~n m::k~s~~; an~• .u~-h ~r.~~mrn~, ~•hi~•h dclay rna}• n•sull ~n an~' aJ~Ltiun:~l ~nti•rrst, ~•~~stti, ~•harKrc, ~•x~N~nsi•ti ur ~dhrrKi.~• 1(1. \turt{;:~Ror ~+il{ ~~ay to \1orl~:ay;~r. imnu•~fi:d.•h :~nd ~ith~~ut ~I~•mand. all .ums u( tnunry ad~an~~•d by :11urt~;:1~;/Y• fo pruti•i•t th~• ~~~•unh• hi~r~•uf ~~ursuant t~. th~s ~lurty~akr. inrlu~iink :~II ~~~~~I._ n:~•~~n:~hl~• :~tturni•~~~s (tr•s :~nd nth~•r it~•ms o( ~~x~K•nu•, tu~;i~th~r ~~ith inti•rest un .•at•h .u~•h :nl~am~~•~ni•nt :d th~~ h~kh~•st I:~wful r:N~• ~~f int~~rr~l ~„•r :~nnum in th~~ tit:~lt• of Flnrid.~. :ind r~ll surh sums an~1 inf~•n•.t th~•r~•~~n .hall Iti~ s~•~~unYi h~v~•h~ I1 All sum. i~f nium•~• .~•run•d h~•r~~hv ~h:~ll Ih• ~~:~~:~hl~• K~thnul :~nc n•li~•1 Nh.it~•~e•r Ir~~m :~n}• ~:~tuat~nn ur :i~~~~r:eist• rn~•nl I:n+. 1'L. I( dt•t:wlt IK• m:~d~~ in ~r.n•nu•nt nf an} inslalnu•ut u( ~~nm•i~r.~l ur inte~rr~t nf th~• \~~t~• ur an~~ ~r.~rt th~•r~•oi ~~h~•n du~~, ur ~n ~-:~ymc•nt. ~ht•n du~•, or :~ny utht~r ,u~n n~•~•un•d h~~re•b~•. or ~n ~-e•r(urnu~nci• ut :im• uf \1urtK:~~or'c ~~b1iR:~tions, ~-o~•~•n- :int:; ~-r:~kn~•n~t~nts hrrt~un~lt~r, :iU nf thi• ind~•htt•dne•>~ si~~•unYi ht•r~•!~y sh:~ll f~c~~•~~in~• and IK• ~mm~•di:~ti•h• dut and {r.~yahl~• ai th~~ ~~~rtinn u( '~1ort~7~$IY•, H'IIFII/UI nut~~-i• or d~~niand whi~ h an• h~•reb~' ~•xpm.sly ~+:~icr•d. ~n ~chi~•h ~•~•rnt ~1ortK:~kiy~ may a~:nl itsf•I( ut :~11 ri~;htti :~nd rrm~•di~•s. at L•~w ur ~n ~~e~u~t~•. :~n~) Ihis \tortK:~ki• m:~~• IK• forEti•lu..vi N ith :ill ri~ht~ a~d r~•me~dit~ :d(un1i~! te~• th~• L•~~+s of Florid:~ :~nd \1~~rtK:~Knr shall p:iy all i•osts. ~•h:~rKf'ti :~nd ~~x~h•itiu~s thrr~vif, ~n~•h~d~nK :~ re:~s~~n:~bl~~ atturnNy's fE~•. ~n~•ludink :~II surh ~•usts. ~~zEN~ns~-+ :~nd :~U~~rn~•e'x (r~•s I~~r :~m• r~~tri:~l, rF~h~•annR ur ap~K•alti '1'h~~ indrLt~Ylnc~.v uti•un•d h~•n•tr~- shall iN:~r inti~rest at tht~ hikht~st I:~wful r.+t~• uf ~ntt•n•,t ~N•r annum in th~• ti~ate ot Flonda (rum :~nd :dte•r th~~ d:~tE• u( am~ su~•h :leL•~uit ~d AtortKaKor. 1t th~• I~M~• pru~•i~1~~s t~~r in~t:J~n~•nl p:~ymrnts, thi~ ~tort~~:~Rer mnc, at ils uphun. ~•oll~•t a I:+te• ~~harKt` 0111 M P7C1'fYYI ~N'O ~rntc f~~r ~:i~~h un~~ do~lar nnt ~r.ud fn th~~ ~lortkaKw• Kh~•n du~~. t~~ r~~~mhuru~ th~• ~tortKaKe~f~ for ~•x~K•n.~~~c ~n ~•uli:ti IinK :u~d ~~•n•i~•inR Ku~•h incf:ilm~•nt ~r.~Ymrnt~ l:i I( d~•(;w11 IK• m:ul~• in ~r.~ymt•~~t. ~h~•n dui•. of any ~n~l~•ht~~d~u~..~ w~~•un=d h~•re•h~•. nr in FN~rfnrman~~e~ n( :~ny u( ~l~~rt~;a~;~~r's nhliKatiun~, ~•uc~•n:~nts or aKny~nu~nt h~~n~und~•r Ia1 ?~lorlka~;t~~ ~s :~uth~xinY1 :~t any hm~•. ~~~thout nuti~•v. ~n ti.; s~~lt~ d~Wn•tiun tu e~nti~r uEHrn and lakf• ~nr.u~~.~~un u( th~• 1f~~rtK:~~;~Y1 F'ro~n•rty ur an~ ~~arh thrrruf. to ~N~rtorm :iny :u~tc A1~~rt~;:~K~•e dcti•ms n~~•c+~:iry or ~~m~N•r tu ~~onsen~~ th~• se~~-urity and to ~•ollec•t :~nd r~vf•i~~ :~I) rtve~., ~~.u~~s and pro(it. thrn~d, in~•Iud~nR thuse ~r.~st du~• as wc•II :~c th~~w~ a~rruinR Ih~-n a(ter. :~nd 11~1 \1nrtKaK~r ~hall IK• ~~ntitlF~cl, as :~ matt~•r ~~t strirt ri~;ht. w•~thouf notiir :+nd i•xp:~rt~•. :~nd M~ith~~ut rrK:~rd to th~• .:~l.~r ~~r •x•~•upan~•~• ot Iht~ .iy~urity. or th~• vol~~~•n~•~- n( !~1orIK:~Kor. ~~r th~• ad~~c~ua~•>• of the ~1ortK~+R~•d Ym{Mrty a~ sc'~•urity tor thf• 1`ntc~, to ha~•~• a rr~•eicrr ,~pExiinte•d to ~•nf~~r u~Krn :~nd takc• ~N~+u•~.~inn uf IhP A1ortQ:+K~~c1 Pm~-rrty, ~'oll~ct Ihc~ r~nt5 :ind prnfitx thrrefrom :~r.~: :~pply thf ~:~mE~ as th~• ~•~urt m:~y dim~-t, su~-h rM-~ivFr t~~ h:i~•t~ :~U the~ riRhtc and {x-K~rrs ~-ermitt~~d under the laws of Flonda. (n ~•~the•r su~•h ~:~ru~. ~1or1K:~Qe~ or Ihe r~~i•t•i~•rr m:~y also take {x~~.x:~.rion of, :~nd lur thF•~u• pur~ww~s use. :~ny and all ~~•r•~~nal pru~~crty whi~•h is :~ pari of th~• ~1ort~;aK~r1 Yro~Mrty :~nd ux•d I~y A1ortK:iR~~r ~n ~h~~ mMal ur 1~•atiinR th~~rc~( or any part th~re~L 'fhF .•z~x~nse~ IincludinQ rcK•~ivPr's (tr~s, ~•ounsel fecw, ~•~~ts and aRFnt~ti ~•um~x•ns:~lion) incurred pursuani to thP ~x-wery hrrein ~~ont:~~nrd sha0 I~e secured h~mt,y. A1ortK.iK~ ~hall la(ter pa}•m~•nt of all ~osts and expen~ in~orrc~il , ~ z ~ -2- ^~~;x:3~9 F~~~~t~`~26 ~ ~_: ~