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HomeMy WebLinkAbout0957 . _ _ ~ s . N~001M? P~? NsuN ~f~d (~YMU~s ar~ hs~rty moiipp~~! as M ap~dfiqMy Nt Mrth ~nd dMOr16~d fn M~ W~ntinp and hab~Mlu~l AItuM~ h~l~ and wch ~~Aall hav~ aM tM bno~d and Mhctiw functb~a and po~s in any wi~ entnat~d by a oouR to • noNwr. and wch appotnbn~nt shaH br m~d~ by Nrdi oourt as an admitt~d pWty ~nd ~ nWtK of ab~olute ~ht M the Mort~psw , a~d wicnout rM.nno. to a~..d.vwc~? « M.d.qu.cy a ene vaw. a tn. prop.mr m«q.o.d or co ens .o~wnc~? « traohrenc.y a ths Mortp~por and/or tM dst~nt and wch nM~ ProHt~ tnpwn~ issusa and row~ues ahNl bs appUsd by ths nosiver aocordlrp to the li~sn and/or equity cf this mortpape and th~ Practios of such court and such appointms~t of roosivsr shall bs without notk:e co any oafpor nsround.~ NIIrTFk The Mort~a~ hsreby waMes all ~hta of homestead and exemption ~ranted by ths Constitution and laws of ~ Florida It is speciflcaly a~resd that time is of ths ssaenc:e in this contract and that no waive~ by ths Mortpa~ee of any obliyation ' hemunder or of the oblipatbn secured hereby shall at any tims thereaftsr be held to be a waiver of the tem~s hereof or of the oblipation secured heroby. TENTFt H aq or any part of the abovs desc~ibed propsrty or an Interest Merein is sold or transfeRed by the Mortya~~ or his suxeasa in interest without the Moirtpa~ee's prio? w~itten conaent, exdudinp (a) the creation of a lien or encumbrance subordinate to Mis mort~aapa (b1 the creation of a purchase money aetw~ity interest tor household appliance4 (q a transfer by devise,, descent or by operation of law upon ths death of a joint tanant, or the ~rant of any leasehold interest of three yeara or leas not contelninp an optio~ to purchase~ the MortyBpee may, at the Mort~ayee's optio~ declare alt the sums BeCU~ed by ihis mortga~e to be immediatey due and payable. The Mort~apee shall have waived such optbn to aocelerate N. prior to the sale or tranafer. the Mort~ee and the person to whom the above-deac~ibed property is to be aotd or transfeRed reach agreement in writ- ing that the. credlt of such person is satisfactory to the Mat~ee and that the interest payaWe o~ the sums secu~ed by this - mortgeqe shaii be et such rate as the Mortya~ee shall request ELEVENTH: If forecbsure proceedin~s of any second mortgage or second trust deed or any junior le(n of any kind shauld be instituted the Mortgagee may. at its option immediatey or thereafter dedare this mortgage and the indebtedness secured here- by due and payabla TWELFTI~ That in the event tAe premises hereby mortya~ed„ or aoy part thereof.~shall be condem~ed and taken for public : use under the power of eminent domai~ the Mortyagee shall have the ri~ht to demand that all damages awerded tor the taking ' of o~ dama~ea to said premises ahall be psid to the Mortgaqee. up to the amount then unpaid on Mis mo~tgage and the obligation secured nereby and may be applied upon tne payments lasc psyable under tnis morcgafle a~d tne owigation securea nereby. THIRTEENTH: That installments` payabls u~der the temns hereof and the note secured he~eby. not paid when due, shall be subject. after fiReen (15) days hom the due date thereof. tq and ft is agreed. Mortgagee shall collect thereon and therewith, a"late charge` in the amount of tour per cent (4%) of the installment due upon each such delinquent installment, and such "late chargeg' are secured by the lien hereoE = FOURTEENTFk Without impairing the obligations of Mortgagor contained in paragraphs SECOND, THIRD and FOURTH hereof, and for application to the purposes thereof insofar as the same shall be sufficien~ Mortgagor shal~ in additiort to the monthly payments of principal and interest as stated in the original note (and in the note or notes secured hereb~ provided to be made, pay a monthiy sum and amount equal to one-twelfth (1/12) of the estimated annual taxea~ assessments and insurance ~ premiums upon the reai estate security, as the amount thereof is determined from time to time by the Mortgage~ FIFTEENTH: That the Mortgagor shall fumish annually, at the request of the Mortgagee, financial statements in form and certified in a manner satisfactory to the Mortgage~ _ i SIXTEENTH: This mortgage secures an existing indebtedness and also secures sny and all renewals and extensions of the ~ promissory note referred to herein and secu~ed hereby. and ail installments thereof, and also any~other note which may have been I or may hereafter be g'n+en to the Mortgagee by the Mortgagor, and any other indebtedness of the Mortgagor to the Mortgage~ and this mortgage is also intended to be and is a mortgage to secure payment"of any and a!I future or additional advances made by Me Mortgagee at its option to the Mortgagor, or his successor in titl~, for any purpose, to the same extent as if such future or additlonal advances were made on the date of the execution of this mortgage4 although there may be no advance made at the time of the execution of this matgage and althouph there may be no indebtedness outstanding at the time any adva~ce is made. All such advances are to be made within twenty years from the date of this matgag~ or within such lesser period of time as may be provided hereafter by law as a pre-requisit for the sufficiency of actuai notice or record notice of the option of future or addi- tional advances as against the rights of creditors or subsequent purchasers for valuable consideration The total indebtedness se- cured by this mongage may decrease or increase from time to tim~, but the total unpafd balance so secured at any one time shall - not exceed s maximum princtpal amount of THIRTY-TWO THOUSAND SEVEN HUNDRED FORTY-TWO AND 50/100 DOLLARS ~s32,742.50-- , plus interest thereor~ and any disbursement made for the payment of taxes, levies or insurance on the property covered by the lien of this mortgag~ with interest on such disbursementa • SEVENTEENTH: This mortgage is subject to all the terms of a ~ Construction Loan Agreement, of even date, the same as if said Agreement were set out herein in full. ~ , ~ i ~ . 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