HomeMy WebLinkAbout0046u~,~uau~r, aud auy ut6i•r cuvr~age n.y~uin~l by ttK• ~nort~~g.,e, on dwellin~ ~•li~ible fo~ auc:h broadenrti rovr~a};e - provided. howeve~. t6at
•~~ch i~uurancr 6e in an utnouat sufficient W comp1~ witL a~- ao~ioturanoe re4utr~ts oovetio8 iame uode~ We laws of tbe State oE Fb~ida,
.uKl provid~d hirthrr that U-e poliey or policii~ slu--U ba written ia • e~upruy o~ c~iu{wni~~s urxl thruugh an ugeucy mtuiactury W tlie ~1ori-
~;~~;.~.• cuKl that ~aid poli~ ~ or policies slwU lie hekl Uy u~~ \lurtgugee aiN1 shall lx~:~r o sta,Nlanl \r~ Yo~k ~tony~~;~ti CLiux w~itl~uut c~nt~il,u-
tiun, nu~kiu~ the loss w~e~ said palicirs payal,le to the A1ortgu}~,ee as its intercst may appear, a~xl i~ the evcut any suu~ af ~noi~ey brruu~.~a
~x~~•able ~mder any such policy or poliries, the rlo~tgagre s}~aU t~ave the option to receive ancl apply the saux u~~ acruunt of the i~xlebt~~loiss
u•~rby urun~ci, or to jx•rn~it thc ~tort~;agu~ to nr!•i~~e u~xl use it. or eny pa-t thereof, for otl~er puRxues. witiiout thereby watving or impair-
in~ :in~~ ~vp~ity, licn. o~ ri~ht unde~ ancl by virh~e of this mortgage• and ia the eveat the Moctg,agor doea not comply with thit ooveuant, tbe
\Iu~t:t:~s;~Y• may pl:uv~ nnd pay (or such incurancr, or any part l6ereof, widwut waivirtg o~ aftecting the optiu~ to foreclaae, or any right he~e-
~uid~~r. :uxl tl~e (~J) amaunt of each a~K! e~•ery surh pay~r-mnt s!-aU be immecliately due and payable, snd shall t~str iaterest fra~ the date
t6en uf uutil p:-NI at the delault rnte providecl in srid note and togMher with such interest shall lx~ serun~l I,y• tl~e lien ~-f tliis uwrt~:~ee. I~uur-
.ma~ co~~rriu~; the peril uf Aoacl Jan-ake shaU l~e as mluired Uy d~e Federal Disastrr Protrction Act of 1973, or as aa-encled, ac-d mortgagor
~~~~~•nants arN1 a~n~ to compl}• in all mspcr4+ with the provi+ions ther~wt.
4. 77wt ~nortgagee may. at any tiine during the mortgage tertn. ~nd in its discretiouu. ePP~Y for rec~ewal of mortg age guaranty ituuraaoe
~~overing the mort age e:ecutcd by the undersi~ed oa even date herewith,paY the premium due b reasoa thereof, aad +e4uire repaYmeat
y e
1-y the undersigned of such amounts as are advar.ced by said mortgagee. Ia the event oE failura by unde~si~ed to y said amounts to
said mo~t~a~ee, such failure shall he mncidereci ~ drfa~dt, and aq pro~~i~ione of the r-c~te snd mortRaQe w~th mKanl to d~ult sl-all im appli-
cabk. '
3. To permit, co~umit o~ sufErr uo w•a~tr, impairn~rnt oc deterioratiun of said property, or any part thereof, u~cJ upon the faibue u( the
~uurt~aKor to l•cti~ d~e buildin~s oo said property in ~ood conditioo of repair, the ltortf;aKce mav de~nand the immectiate repair of caid build-
inic, or an incmase in the amount of security, or the immt~cliate repaym ent of the deLt hereby secured arnl the (ailum of the Htortgagor to com-
~~1.• tvith said de~na~xl of the :-tort~;:-K~r [or a ix•rial oE thirty ( 30 ) clays, shall constitute a bmach of d-is mortgage, and, at the option of thr
\IurtLx~;~r, imm~rliati~h• ~natum the i~ntirc amaunt c~f principal and inteuKt hemby sc~cureYl. and immrdiately a~xl witlwut noticY•, the ~tort~agee
u~:~~~ iu~titute prrnYrdint~s to fon~clcKC this mort-~a~;c :u~d apply for lhc appointmcnt of a RiYri~•er, :u hcreinafter pro~~decl.
Ic. 'fu ~x•~(unu. r~ni~pl~• ~~•itl~ :~u•1 :~I~i;l~• b~ e:-ch :~u~l ~•vr:y .tipulation. :tgnrm~•nt. ~Yi~Nlitiun .u~d cov~•n:~nt iu >:~i~I prun~i+~nn• nnt~• :u~d d~ti~cl
.ct fort6.
:. {u th.• ~•~~•ut th•• jwixlictiun ut tl~~• l~. S. Vi.lrict Court sl-aII be iu~'ur~rl by or akau4:1 t6r \tu~t,u~ur uudr~ :mp ui d-~• pruvisiuns of t6e
1:•~I~ ral R.~nkniplc~ :1ct, ~urh a~ti~in. ~+~hrthi•~ c~,l~mtan~ or imol~u~tary on tl~e• part of the \tort~a}:or, shall autuin:3tiiwDy, Nilhout noticY•, ae-
~•dor:di• ti~~~ maturil}• of all sum~ o( wont~y h~•rt•in d~•cc:ilxKl a~Nl secort~l, a~~d tl~~• wmc shall thcrcupon Iw^c»nx• duc and payaLle fortl~~vith
.~, tulh :~s if the• s:-id :~~~n•};:~t~• sau~s o( IUUIIf•)' N'('f1• uri~iually slipul:ttivl to 1x• paid on surl~ d:~te. -
ti. To de~li~i•r to said :1lortka~;er, on or l~efom ~tan•h ISth of each ~•car, taa recripts e~~dencinK the ~yu~cnt of all 1aw~fully irnpuutil tues
I~~r tlu• pr.YYVlink cak~u~lar yeaz, and to d~~li~cr to said \tortKaK~ti•, nreipts cvidcncinR the payment of a~liens [or public improvements within
i~in~•h- l~xl) days c.ftt`f II1C 4'11111' tiI18~I INY'OO1C d~~c a~x1 pay.~Ll~, and to~ ~y or discharge within ninety (~~ daYS 3f~C~ (IUC (I3~C, any and aU
;u~~•nnn~•ntal 1~•~~i~y that ~uay lie m:~d~ un thr nn~rt~aK«l prc-~crly. on U~is ux-ri~a~;e or nolP, or in any other way :csultin~ fro~n the \IortKaKe
~;~~leLt~tiltx~.~ .i•c:aiYl !.}~ this n~urtK.~~;e; :-tKl if t6is ~Yin~lition l~e uot compli~d with and pedormed, said mortgager. may pay such sum or s~uns
~c6i~•6 shall lxY~om~ part of the debt ~ecvrecl by this roortRage, and shall Lear interest at the default rate provid~til in s:iiJ promia-u~ry not~
~~.~~:~1~1.~ muntlda• i~nti) p:~id or said mort~c~~ee may ~l~ct that said mort~a~;e debt themupon 1~ecome due and pa}•a{~le forthwith.
11 ;: is ~urtL~•r ro~~~~~.tutcYl au~~ a~nnvl Ly .,~i~~ partii•x that in t~-~• e~•~•~t of :1 suit fx~in~ iiutituhYl to forc,~osc t~~is n~rt~;a~c, tjtc \lortx:lge•c
.h.Jl IM ~~utid~r) to appl~• at am time pe~idiny~ suc1~ fortrlosure suit to the court ha~ting jurixliction d~er~~f (or the appointment of a r~ri~'er
ut .~I! :~u:l ~io~ielnr thc• i~n~rt~.e~~Yl pro~N~rty, :~utl of all the rentc. incY~mec, pmfi~c. iccues and m~•enuex thereo(. fmm wi~atsoecer vitirtt de•rim•ecl;
:~nil th~•n•u~m it `.s h~•mby~ ~~quc~sl~~ ro~•rnai:ted and aRreecl that the eouK sLall fortL•.vi:h appoint a mcriver oi said mort};a}teYl pro~rty, aD
:uNl .i.u•nlar, ;uid of tincL fCl~tti, IM'0111P5, ~:ofic+, i..t,~ a~Kl rrvenue thereof, from whatux•~•~~ sourcr dem•eel, with the usual po~t~c•rs ancl
~luti~•> uf n~cri~:•n in li~~e~ i.iw•.- .uxl ~uch appointun•nt shall 1-e made by ~uch rnurt as a nu~tter of stric•t rit;}~t to the \iort~a~~~e, its succrssors,
l+•~_:d ei•prrw ntc~ti~.•s or as,i:.ma, and ~a~thout micmnce to the adeV~uacy or inaderp~acy oE the ~•alue of the pmperty hereby mortAaged, or to the
.nh~•:~c~• or iusnh~~•ncy of the I~tort¢aRor, ancl th:d sueh rent, profits, inco-ne, issu~K and m~rnues shall he applicYl by such recria•er to the pa}'-
nu•nt of th~ mur;cagc indebtcYlnc~s~, ca+ts ancl char~es, acYrrclin~ to the onlr~ of such court.
10. (( all or :uiy pa~t of dze pro~x•rt}• ur a lt~~~al o~ c ~uitabl~• interest therein is so~ or tra~~sfrrred by ~norts;a~or ~vitl~out nwrtka~ee's prior
~~~ritt~•n co~~cent, includin~~ but n~~t liwiteYl to thc ~xec:ution of an agreement for deed, but e=cludin~ iaj the crcation of a lien ur encum-
{~~.~ncr s~ilxinliuat~ to tl-is mort;;agc•, f 6} tlii• crc~ation uf a purrhase n~~-~e}• seeurity interest for household appli:incrs, (e) a transfer hy
~li~~i~~• nr d~ac~e•nt, or by o~nlion of law• upon U~e death of a joint teaant, or (d) the ~rant of an~.leasehold intemst of thrcr years or less not
~ nut:~inin~ :m option to purchas~•, mortRaK~ ~na~-, at its option, dcrlare all t}-e sums securecl by lhis nx~rt{~aKe to he immrdiately due and
P~~>"~~f~~~'• ~~~rtK~~fi~'e shall ha~~e ~~~ai~-c~cl such option to accrler.~te if, prior to the sale or trans~er, mortRageP and the person b whom the propcrty
ic to be sold or tsancferrrd mach a~reement in writim~ that the cmdit oF such perwn is satisfactory to I~lortga~ee and that d-e interewt payaole
~~n the swnc securecl by this mort:~aee shall Ik• at ~uch ratr as \tortqa~r shaD reyu~~st. IE Atortt~aKCC has waived the option to accelerate pro-
~-ided in this parafiraph, and if !~1ort~agor's suctr.sor in interest has C%M'U~(YI a tvritten assumption atLreement accepterl in writin~ h}• \lort-
e:i~~r. ~tortqaKee• sha11 mleasr \tortkaQor from aU ohli~,ations uncl~r this mort~aqe ancl the note securecl hereby.
I I. T6at in the e~•ent the premises hercby nx~rtAaRecl, or any part themof, shall he condemnecl and taken for public use under the power
~~f ~•mincnt elnmain, the \tortga~ee shall ha~r the rip,ht to demand that :Jl damaQes aw-arded for the taNntt of or damaRes to said premises
.h~ll l~e p~id to the 11ortRaRee up to the amonnt then ~~npaid on this nx~rts;a~e ancl at the option of thr \tortuaKcr may {K applir~) ~~pon
th~• }-ayments last payabk thereon.
12. Thc mortRagor bincls hi~nsclf not to crect or pennit to l~e erectecl any new buildings on the premises hemin mort~;aqecl or to add to
~,haFn~e~tl~e came~aoa he uce ythereofe with~ ut the Nritt~cunseut o( d~e .l1 rtAaA and in theterent o ny~ a~alion or att~ pt to violatte tl~
.tipulrticm thi. nwrt~aAe and aD snnu setured hemh~• shaU immediately become dne and colkctible at the option of tl~e Mortgagce.
13. It is specifically agreed that time is of the essenm of thit contract. 77ie iailure of the I-tortgaRor in one or more instancrs to insist upon
.t~ict per(om~ance or obsen•ancr of one or more of the co~~enantc or conditions hereof, or to e:ercise any remedy, pm~lcy~e or option herein
~~nferred upon or resen~ecl to the Alortaagor, shall not operate or be eonstniecl az a relinquishment or waiver for the future of sueh co~enant
or eonditicx~ or of the riRht to enforce the sxme or to exen:ise such privileRe,op tion, or remedt•, but the same shall continue in full force and
~•ffert. The reccipt by d~e \1nrtRagee of a nwnthly payment or payments or of any other payment required to be tnade by the \1ortKa}~or, o-r
:iny part thereof, shall not be a waiver of any other additiooal payments or amounts tben due, nor shaD such receipt, though with knowl-
~Ylee of the hreach of any covenant or c»Mlition hereof, operate as or be deemed to be a waiver of snch breach. I~o waiver by the I~fortgagee
of any of the pmvisioas hereof or any of the ~lortstaccr's riKhts. remedics, privileKes or options hereuncler shall be deemed to ha~~e lx•en
madc anles~ madc hy the Mortgagee in vvriting.
14. If (oreclosnre proceeding,t of any second mortgage or second trast dce~l or an}~ junior lic~n of any kirxl sf~ould t~e iactitutecl, thc ~tort-
Aa~ee may, at its option, immediately or theteafter deelare this mortga~;F~ arxl the inclebtcclness secanYl hereby due and payabk forthwith, and
ma~• at it, a~tion procred M foreclose this mort~age.
13_ ?o the extent of the indebteclness o! tM~ ~fortKa~;or to the ~tortKa~ee descri}x~d herein or secured hcreby the \tortRa~re is hereby
~nbroKatecl to the lien or liens ancl to the ri~;hts of the owners ar-cl holders thereof of each and e~~ery mort~ay;e lien or other incuml'rance on the
land described herein which is paid arxl/or satisfircl in whole or in part out of the procec~is of the laln described he~cin or secamd hereby,
.~ncl ~hc respecti~r li~~nti of s.~id ~nort~a~es, li~~ns or otLer incumbrances shall l~e and the same and each of them h~reb~• is pr<:sen•eci and s!,.~ll
pass to .-r~d be held by the !~fort~aAee herein as security for the indebtedness to the ~iortRaRee hemin describecl or hereby secumcl, to the same
~•~tcnt tfiat it v~•ould ha~-~ M~en pn~c~r~•~YI and ~~•ould ha~~e }xrn pa.~x•d to and been held i>y the Jtortqagce Lad it lx~en dul}' and re~,~darl>•
:~~-:~nrd. trancfermcl, set ~~~•Fr and ~leli~~emd nnto the !11ort~aR~r hy separate dcrd of assi~nment notwithstandinc the faet that the sa~ne• ma}•
IM sa~tisfirel and cancrllr•d of mcord, it }x~ing the intention of the parties hereto that ihe same w~ll }x~ satisfied arxl canm11~Y1 of rt~cY~r~l by the
h~~lders thereof at or a{x-ut the :ime of the recordinR of this mortgage.
I(i. The \1ort~aLOr will pay or n•imL-usx• th~• \Iurt;~a;C~'~~ for all rea+on.~hlt: attom~•~'s fcrs, rnstc and c•xpcnsc~s p:~id or incn:tcd b~• thr
\IortftaKcr in am• acfion, proce~Ylin~ ur ditpute of any kind, wh~ther on appeal or not, in which the \foriQauee is mad~ a part}' or ap~•ars
ac pariy plaintiff or defenclant a(fFCtin~ the note, this mort•„aR~, ~tortc;aqr-r or th~ mortqa~ed prc~ertr•, in~ludin~ Lut not limit~Yl to th~ fom-
~ IocorF ur uth~~ ~nforcrment of this mort~a~e, any condemnation action im•oh•ins th~ mortFa~ecl property, any aMion to protect the ~eevrity
l~t~n•n(, or ~m• ~nxreelin~ in pnwate or bankniptcy~; and any sach an~a~r~tspa id or incurnd by the ~tortRa~ee shall be addecl to the in-
~1~•Lt~ dn~•~c. sLall l.rar int~•r~-ct at th~ d~fault rate speeifieci in th~ nM~• from date of pay-ment, and shall }x~ scrnmd by the li~n of this mort-
,,r:~ .
~-. 1,L:~•.. ...,.. :: ,.c ... ••~- :n !x ~;...:! t.• :!: 1fo:!:.. S;e :-;^ ~te-!ca;;~r !:n:~~r thr terr.!s Itrrrn[ shal! 1~ in d~fa+ilt, nr chm~k~ the~
\I~:rt~~:~cor dr(aiilt in any uf t;~c ~~ih~r tenns,'~ roti~isinns or conditions of this I-1ort~aRe, then and in lhat case d~e 11ortKasee shaU hs~~c the
:i~ht. ..-itlu~nt nutice to thr ~tort~a~or, to rnllFrt arxl mcci~•e from any tcnant or lc~c.ur of said mortgagccl premiscs the rents, issue~s and
pr~~(ih of Ih~• r~al c~tat~• h~mhy mort~taq<YI a~d th~ improvements ther~•on, and to Ri~•e propPr reecipts ancl acY~uittancrs themior, and after
pa~ in~ al) co~nmi~cion~ of any mntal alqent collectint~ the sanK•, ar-~l any masnnable attomey's fe~ ancl otlier necrssary experaes incurred in
~~,ll.~~ tis~e sanr~, to apph• t6c pr~xrctils of such rnllectioac upon any inde~l~tccinc~ss, ohliRation or liability, of the ~iortRagor hereunder. The
riiht ~•rantMl th~• \iortea~r~ nrul~~~ this paracraph chall Ix~ in addicion tn. ancl ~hall not limit or restrict, any other riRht or rip,hts Qranted the
~~,.- ..,~~t~~•, in thi~ ~1~rtt;a~c-
If .Ir~ ~t~~rt•1a¢urti :tt th~~ tiir.~ nl ~nakine this \tort~:aRr cuh~.e~p~~~nt th~•r~to tal~e out lifr iusuraner desic~oatin~ tl~e ~tortKagee hen•in
.~. L: n}•(i~ ian isith a~ rnnpana- app~o~~Y) h~ tL~ ~tort~:~~;ir or azsikns polici~~~ to the ~iortga~ec for the purpc~se of sechuiug the mort~aRe loan
1~• ~. 1.~• ~• r.=~nti1. th~•n th~~ \tortstae~r .L.ill ha~r thr rit;ht la pay .~ny premium acrntin~ ~~nder s:iid polic•iPS, arxl al) si~ms so expetxlecl shall lr•
.~~1,1~-~l t~~ :~ro1 lr~oun• c~ p:~rt ~~f t1i~~ princi~~al in~l~~}rt~~In~•c~ sccurrt~ ~iy this \Iort~:a~c arx) shall lre aid by the \lortgaRor to the-~iortgaget.
in hn~h~ cY~ual consFC•uti~r tnonlhh• inst:il~m~~ntc. Ihr {irct ~nonthly inst:-ll~n~~nt to Fx~ paid as a pad clition to thc thly pa}ment
g!}(~(• ~'~~iC ~lli