HomeMy WebLinkAbout0643iu,ur.uK~r, aiKl :~ny otl~er rnverage rcy~ui~! by the ~nortgag~~. oa dwclliugs eligible Eor such broadencd covera~e- provicled. 6owever. that
.~~ch i~-sur~u,c@ be in an annount sufRcient to caup1y wlth wy oo-inturanoe reqatren~eab oovertng iame uuder the Lws oE the State af Fbrida.
.uKl pro~~d~d funher that the poUcy or policies sl-all be written in e canpa~iy or c~~npanies and U-rou~h an agency satisiaMory W the Mort-
_a~~v and that ~.nid po4~~y or policirs shaA bc heW by thc \to~t~agce nnd sl~all bcur a sta~xianl ~cwv Yorlc I-turl~g~~ Cl:iuu: w~ilhuut c~~tribu•
tion, makiuyt lhe laas ander suid policies payabk to tha Mo~~t~agee as its iuterest may appear; and fa the event uny sum of n~or~ey bec~ou-~y
`~a>~able under auy such policy or r~es. tlio \turtgagee st~aU Iwve the option to receive acKl apply the same uo aaY-unt of tlK.• iinlebtedneKs
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I~r~rby s~ti•umd, or to Ix•miit the I~ ort a}~or to rccci~~c und use it. or any part thcreof, fo~ oU~c~ pu~oses~ without thereebx waiving or bnpair-
~n~ auy ~~~uity, licn, or rikht uncier a by virh~ of this mortgage; and tu the eveat the I-tortgagor dooa not can with this ooveaant, the
\lorty;.~~~r u~:ry pIBIY• arx) pay for such i~uuruace, or any part themof, without waivi~~ or afEecting the option to oredose. or any right here-
~~udrr, arnl thc fiill auwunt u( each ~~xi every surh pay~ncnt shaU be iiouxdi:~tcly due aad payable, atxl shall bear iaterest fran the date
tin•naf uutil ~id at tt~e de(uult r.~te providc~l in said ~wte ancl toKether with such int~•n~at sh~ll Ix• s~Y•un~l Ly U~e litm ut this ~nort;.~a•,r. Iwur-
.~~Kr co~i•riuy~ Ihe pi•ri) uf flaxl dauia~e shall be as rrquimci Ly the F~tle~al Disastrr ProhY•tiun ~et of 19T3, or as amencled, and mortgagor
~ n~~~uautc :uxl u~,n~ry tu canply io all rcypcrt~ wilh the provisions Ux~r~v~f.
4. That nwrtgabwe may, at any Ume during the mortgage term~ aad in its discretion. apply for renewal of mortgage gwranty ia~uranoe
~~overinR tl~e mort~;age e~cecuted by 1he w~dersigned on evea date hecewith,ps y the premium dua~y reasoa theroof. and requL~e repaya~eat
I~y the unJersigned ~ such amounts as are advano~i by said mortgagee, ln the event of failure by t6e uudersigned to y aaid anwunb to
.aid mortQagee, such failure shall Ix* rnnsiciemd A(~P~811It, atx) all pro~~xioos of th~ noM ~nd mort~a~e with rcganl to d~ult s}~a11 i~c appli-
caWe.
i. '1'o Ex•nuit. ~Y-nunil ur su[Eer uo H:-st~, impainnent or detcrioratiun of ~iJ prujx•rty, or any ~rt th~•nY-f, a~Nl upwi tl~e failure of t6e
~uom;,~;ur to !a,•p th~ buildin~s on said property in ~ood contlition of n•pair, thc A1ortf;a~;~r may drm:uxl tl~c imnx~cliati~ mpair of wid buiW-
~:~~_s, or an i~e:•n•asi• in the an~ouut oi uYUrity, or thc immediate mpaym~•nt of thi• di~bt heir6y securc~cl utxl Q~e failum of the \tortt~a~;or to rou~-
pl~ ~a•ith s:~id dr~u:unl ~~f ~h~ \lort~;ae~~e [ur :t 1x•ri«I of thirl>• (301 cl:~>•c, sliall n~nstitute a_bmach of this mortXaqe, ancl, at lhe option of tl-e
\lu:l~:u!eY•, inunevli:d~~h• tnalum tl-~• cutim amount of princip;d aixl inten•st hen•by scrunYl, a~Kl im~~le~cliatcly a~xl without rwticr, the Morty;a{;ct~ '
~:,;~~ indito2~` ~fOIYYYIIIII~S to fomclns~ Ihic mo~l~as~r :~rnl apply ~or thr• aPlx-intu~ent u~ :1 I~IYY•i~~i•r, as hen•ina~ter pro~~ic~tYl.
(; 'fu p:,r(u:~n. ~oiuply ~vith :in:l :~Lid~• 1~}• i•.ich :unl ~~c~•r~~ stipulatiou. :1{:flY71N'O~, inrHlition :~ud i~o~rn:~ut in v~id pruuiisson• nM~• :~cHl dirtl
.~•t forth.
:. in tln• i••.rut tt~e juri.ulictiun uF tl+~• t'. S. 1)istrict (:~-urt s6a11 I~e inwk~yl Ly or u;;ainst l6~• \tu~t~;.i~ur under auy of d~e pruvi.iu~u oE t6e
f'~ ~!• :d B::ukn~pti•.• .lct. ~nch actiun. ~~•6~t-~~•r ~•ubmtary or iei~•oluutary on thi•~a -t oF the \1ort~a};trr, shal) auto~naticall)•. ~rithout reotim. ac-
~„~•r.dc th.• tnatarit~• uf :dl suins of ~no~x~y h~•n~in d~:cc:rilxrl a~N) .l'tY'OfIYI. :lO(~ ~I~c s:~mc SIIIIII ~F11`MII(lOO IKY'OIOP tlyc• ancl payahle forthwith
.~, h~lh• :is if th~~ .:iid a~;~;reKati• sun~.c ~~( moiK~y wer~~ ori~;inally stip~d:iteti) to IM paid on sucl~ date.
ti. '1'0 ~lrli~rr to s:-id I~lortgagee, on or 1-eEore ~tarch 15th of each year, t:u mctiipls evidencinK thepa y~nent of all lawfully imposed tazes
I1/1 C'q' pI/YYY~ID}; Cl~~•udar y~~ar, und to deli~~~v to said ~talKa~;cr, rercipts e~~idenriuK the pay~nent of all Ueac [or public improvcments within
n~rn;. (~K11 da~~ aR~~r tlie ..vu~~ shal) IHYnnx~ due anci payabk, ancl top.~y or disch:~rKe within ninety (90) days after due date, any and all
cuc~•nwH•ntcd le~•i~s t6at uk-y Ix made on th~• n~rly;aK~~l Pr~ertY, on tl~is nK~rtKake or nd~, or in any other way resultinK from tl~e ~lort~age
in~l~•l~t~~clui~ .~runYl by tl-is mort~;a;:c; and if tl~is cunelition be not complicYl w•ith and pedom~eci. said mortgay;ee may pay such sum or swns
.vhic6 shall l~ecnux~ E~.~rt of Ihe debt secured by this nart~;age, and shall hear int~mst at the default rate pro~~idecl in said promissor?• note
i> iti.ihl~~ n-onlL•1.• ~~ntil paid ~r said mortKatiee ~nay elec•t that said mort~a~;e debt themupon becrnne due and payabk forthwith. ,,,
4. It is f~~rthcf (y)\Pt1:111I1YI a~Kl :~~;re~Yl b~• said parti~~s th:~t in thc• 6\'l'OI OF .9 SUII I)PIO~ 1RS~ItUIfY~ t0 FO((YtIUSP ~~IIS OlO11}:a};C~the Ztortgagce
.L:JI lK• entitkYl to apply at any time petxlin~; surh ft-mclosttre suit to tl~~ court ha~ink jurisdiciion t}~n~f for the appoiutmcnt o( a meeiver
~~f aU and siu~ndar thi• ~uurt~;aX~YI property, x~xl of all Q~e rc•nts, inconMS, prolits, i.ssucs arxl re~em~es thi•reof, fm~n wF~atsoe~•er u-urce dem•ed;
:~nd th~•mu~x-n it is h~•reby ~~~pr~sly co~rnantc~cl and aKreed that the eanrt shall forthwilh appoint a recrirer of saiel mortga~rcl pr~~rt}•, all
:~rKl sin~;ular, arxl of such mnts, inc~omes, pmfits, i~cues a~xl m~~~nue themof, from whatsoe~rr sourcr. deri~ecl, with the ~uua) powers and
~luti~~, oi r~ri~•erc in li~:r ra+e~; aiKl sucL ap(x~int~n~nt shall l~e made by such court as a matter of strict ri~Ght to the I-tort};a~m, its successors,
1~-cal rr•pn~.cntativ~~ or acsis,ms, mx1 without refemn~r to the ade.~uacy or ir-adequacy of the valuc of the p~ hereby mortQaqed, or to the
.olvi•:n~y or iuu~l~•~~~xy of the I-1ortKaRor, arxl that such rent, pro(its, income, issu~s anci revem~~s sh~l) he appli bv such receiver to the pay-
urt•nt of tM~ mortqage indel-teclnec:, cnstc and cbarKes, accordin~ to the ord~r of such crourt.
Il~. If all or an~• part of d~c propc+ty or a 1~;;~1 or e:~uilabl~• interest tFKmin is solJ or traru[erred by morttiay~or wilhout rrart~aKee's prior ~
~ ritt~•n consent, includin~ but not limitcd to t6e exeY•ution of an agreetnent for deetl, but excludin{~ ( a) the cmatirn~ of a lien or encum-
I•rancr. sulM~rdinate to this nwrt~;agr, (b) the creation oE a purchase monry seeurity interest for lwiueholcl applianees, (e) a transfer by
~l~•~ i•e• or d~~sn~nt, o~ by opcration of law upon the death of a joint tenant, or ( d) the ~rant of any lrasehoW intrrest of three years or less not
~rmtaininR an option to purchase, ~nortgaA~r may, at its option, declare al) the sums secumd by this mort~Gaqe to be immediatcly due and
p:-~•ahle. \fortga~ce shall have wai~rd such option to accelrrate if, prior to the sak or transFer, mortRagee and d~e persan to whan the property
is to be sold or trancfernd reach aKreement in writin~ t6at the eredit af such person is satisfaetory to 1ltortgafiee and that lhe interest payrLle
~~n thc suinc seeurecl by this mort~aRe shal) be at such rate az 11ortKa~~e shall request. If \tortKaKee has waiceci the option to accelerate pro-
~ idcrl in this paraRraph, and if A~urtRagor's surcesu~r in interest has executeYl a~vritten assumption al{reement accc~ted in writing hy \tort-
~,ay;ce, ~lortpaAec shall mtease 4tortKaAor from a11 obli~ationt ~nxl~r this nwrttaqe :~rNl the note srcured hemby.
1 I. That in the e~•ent the premises herrby mortp,aQc~, or any part thercof, shall be corxlemned and taken for public use uncler the power
u( e•r~incnt dainain, the A1ortQagee shall have the rip,ht to der.uand that all dama¢es a~varded for the takin~ d or damaAes to said premises ~
.h311 be paid to the Mo~tQagee up to t~ amount then nnpaid on this mortKa~e and at thr option of the 11ortKaQee may }-e applird upon
tl~r paymentc lazt payable th~reon. _
1-2. Tlie mortKagor bincls himself ~x~t to crect or pennit to be esectrcl any new 6uiklinRs o~ the premises herein mortRaged or to add to
ur pcrmit to be aJded to any of the e~isting imprmrments thereon or make any changes or alterations in said improvements which materially
rhan~;c the same or the use thercof, withoat the written consent of the Mortgagee, and in the e~~ent of any vialaGoa or attempt to violate this
.tipulation this mortgaQe and all sams securccl hereby sha8 immediately become doe and collectibk at the aQtion of the Mortgagee.
13. It is spec:ifically agreed that time is of the essence of this contract. 77ie failure d the Nortgagor in one or more instanc~es to insist upon
.trict perfomiance or olxen~ancr of o~ or more of the rnvenants or cooditions hereof, or to ezercise any remedy privileRe or option herein
conferted upcui or reserved to the Atortga gor, shall not operate or be eonstnxd az a relinquishment or waiver for t~e future of such rnvenant
or condition or of the right to enforce the same or. to excreise such pri~ikRe,op tion, or mmedy, but the same s}wll continue in full force and
~•ffect. The receipt by d~e NortRagee of a monthly~pa yment or payments or of any otherpa yment requimcl to be made by tt-e ~tortga or, or ~..
any part tl~ereoE, shall not be a waiver d any other additioaal payrncnts or amounts theu due, nor shall such reccipt, thauqh with ~-
c~c1~e of the breach of any covenant or cor~lition hereo(, aperate as or be deemed to be a waiver of such breach. No waiver by the Mortgagee
of any of the prmisions hereof or any of the MortKa¢ec s riAhts, remcdics, privileKes or opfions herenndcr shal) be deemed to have bcen
made unless made by the Mortgagee in writing. -
14. If forecbsure proceedinps of any secood mortgage or fecon~l tmct derd or an~• inninr licn o( any kincl slwulJ Ix instituteJ, the Nort-
qaQee may, at ifs optioo, ~unedIately or thereafter declare this mortga~;e and the indcbtedncs.c sccurcd hercby due and payable forthwith, and
~~~ay at its option prooeed to foreclase this mortpge.
15. To the eztent of the indebtednecs of the'~tortgaKor to the ~tortKaKee Jescril~ed herein or secured hereby the ~tortRagee « Lereby
~ubroRated to the lien or licns arxl to the ri~hts of the owners and holders thereof of each and every nwrt~aQe lien or Mhcr incumbrrucr on the
land described 6erein which is paid and/or satisficcl in vehole or in part ait of the proceeds of the loan descri}~ed herein or securcd herehy,
:~nd ihe respecti~•e liens of said mort-;at;cs, liras or other incumhrances shaU be and the same and eaeh of them hemhy is prcserved ancl shall
pass to arnl be held by the MortKagee herein at aecurity for the indebtedness to the liortjtaQee herein Jescril~ecl or hereby sec~~red, to the samc
~•~t~•nt that it woul~l ha~~e l~n pmse•n-cYl ancl woukl have }xrn pasu~d to and been held by the ~tortfiagee had it 1-een duly anci re~darly
:~csit~ne~cl, trar~sferrecl, set m•er arn1 d•~li~rreYl imto th~ ~tort~aRec hy separate dcYxl of assi~nment notwithstandin~: tbe fact ihat the sam~ may
Ix• satisfird and ranc~ellc~l of recorci, it beinQ the intention of the particK hemto that the same will be saticfied anci cancelled of rc~-rd by ihc•
holdcrs thcmaf at or about the time of the recordinR of this mortgage.
I(i. Tha 1lortka~or wil) pay or mimLurx• lh~~ \fort;~aqee for all rcasonable atlorncy~ s fccs, rnstc and expensc~s paid or incurred by tlu~
\IortKa~ee in am action, prareciinK or dispute of any kind, whether on appeal or not, in which the ~tort~aKee is made a partv or app•ars
as party plaintiff or defenclant affectinR the note, this mortQaQe, ltort~aKor or thc mortqaAcd propcrh•, includinR Lut rai limitec~ to the fom-
~~lrnum or olher enforcrment of this mortKa~e, any corxle~nnation aMion im•oh~nQ the mortRaA~cl property, any action to protfrt the security •
hi~ny-f, or a~y ~rncY~rclin;~ in pro}-ate or banln~ptcy; ancl any such a~nounts patd or ineurmd by the ~tortRaRee shall be added to the in-
~1~•bterln~•cc, shall I~~ar int~r~t at th~ defank ratP speciFiecl in the not~• from date of payment, arxi shall he urured by th~ lirn of this mort-
~,~c<•.
~.-. ~th~•n :un• amunnt ~~f mon<w• to M paid hy th~ ~1ort~a~+o- to the ~foriKaRec uncler the t~rms hereof shall be in default, or s6ould the
\lurt;::r_or defar.lt in any nf the other temu, provaions or conclitionc of t6is 1lfortt,aRe, then ancl in d~at case the Mort~.ager shall have the
ri:~ht, ~~•ith~~at notice to the 11ort~{attor, to collrct ancl mceivc from any tenant or ksur of said mort~aged pmmiscc the rents, issues and
~ir~~fit. ~f fh~ real e~statc hemby mortAaKcr1 and the improvementc thereon, ancl to gjve proper receipts arx) acv~uittances tl~erefor, and after
pay~inK al) cn+nmissions of any mntal aRent collec-inu the same, ancl any reasonaUle attomey's fees arxl other t~ecessary cKpenses incumed in
~.~llt•c:in+~ can~~, to apply the procrc~ls of sunc ~olleMions upon any indebtedncss, obligation or liability, of the Alurtgagor hereunder. 'll~e
ri~•ht s•r~r~trd th~ 1~ortua{C~'e und~r this p.~tra~raph shall be in addition to, and shall not limit or mctrict, any ath~r rip,ht or riy,hb ~rarited the
\tu-.~~:~r~~• in this ~liortga~;~.
'S. 1~ th+• \!~~•!•ruKuis at the tim~~ of makin~ this ~turtc;aQe snLte;~pu•nt th~n•to take out life insurancr dc~si~:natinR the ~tortgaQee hemin
a+ i~r~~e•(i~~i~ry K•ith a company appro~~~d !~~• the ~1ortRa~er ur :~.aiKns polici~~s to tl~e Mortgagee for the p~trpose of securing the mort~age loan
h~•~,•L~• ,•~curcJ. thrn th~ ~forti>a~~r shall ha~r Ih~ right to pay any premium acrn~ing under said polirics, and all snrtu so ezpencled sha11 be
:~~!~l,~el !o a:xl l,ccvim^ a p:irt nf tl~~ principal indcbte~lnrss sc~thveYl by this ~torty~a~e ancl shall he ~id by the ~lortgaAar to the `lortgagee
in h~•~1r~ M~ual ~on~ec•~~ti~~ monthly installnxrots, thc first monthly i~utallmrnt to be paid a ~~ancl in to the monthly paymeot
B.'1~1K~~`t0 P#GE ~~
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