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Home My WebLink About0300 . I 1 . ' t8tate oi Fiorida doasmantary e~t,~mpe in the ~moeuit re4utre~l by law e~e atYixad to the original oi the loregoing note ~ snd eat~celled pttrsuant to law.) ; i And ehall du~ prompUy and ful~j? periorm, dischaige, execute, ettect~ complete t~r?d ooanply with a~d ablde by . 1 ea~h uad every ths e~IpulaUons, e~greemente, condtt~ape and c,oveneutts o,t sald pramtssory note nnd ot thia mortgage, then thlar mort~agc and tha eetate hereby are8te~ahall oeaee and be null and vold. ' Md the Mortgagc?r oovcnant~ and agroes to and wlth the Mortgage0 aa~ fallowe: i . f 1. He will pay tha prlnclpal and interest and the va rtoue and sundry auma ot money pe~yshle by virtue o! salcl , promlasory note and thla mortgage promptly on the deys the same become due and lie will promptty perform ewd coin- p~j? a~ith each and eveay other oovenant and agreement in eatd pmmfasory note and mo~g~ge. Iie will pay the taxGS, aaees~nenta~ Ievies, llabilitiea obUg~atlons and incumbrancaa ot every nature and klnd now on said deecribed property~ or that hereatter may L>e imposed, autfered~ pleced~ levied or aadea9ed thereo~n, or that ' hec~aalter may be lavfed or aae~.~ci upon thie mortgage or the indebtednes,s eecured hereby, when due and payable axord. ~ • tng to law~ before tltey b~oome deUnquent, and beforaany interest attaches or any penalty ie incurred; and in eo fsr as ~u~y thereof ia of t+ecard 4ba samo ehaU ba promptly eatlatied and discharged oi rec4rd and the ortginal otildal document evidencing euch eatisiactian and diacharge ahall ba placed in the handr~ ot satd Mortgagee v~9thin ten daye next atter pay- I : tnaat~ Tlse covenanta arxl sgreamenta in this pa~ph ahall not be applicable to the taxe~ and as4essments which are ' ~ ~~paW out oi the tunda depoalted with the Mor es under the terms af garagraph 4 0! theee oovenenta snd agree- ; ' • S. Iie wW keep the tmprovementa r~ow exl8king or hereafter erected an the mortgagal pmperty inaured againet leee by llre t~nd other he~arde caaualtiea and conUngencles in such nmouata and ior ~uch perioclus as may be required by Mortgagoe. All insurance sha{1 be carried in cam ~ - shall ba he2d by Mo P~~ approved by Moriga,gee and the policiee and renawala thereoi f rigagee and bave sttacbed Lhereto loae payable clausea in tsvor of and iu form acceptsble to the ]~tortgagee. In event oi loss he will give immediate notice by mail to Mortgagee sa~ Mortg~ge~ may make proof o! ioaa ' ' ii not mada prompUy by Mortgagor, and each lnsursnce oomgaqy concerned is ~ereby autbariud aAd direeted to malce ' ~ payment for euch loss directly to Mortgagee instead oi to Mortgag+or and Mort~,,agee iolntly, uxi the inauranoe proceeda~ ; or any part ihereoi. may be appUed by Mortgagee at !te opt[on etther to the reduatt~n o! the indebtednes~s hereby ee- . F cund or to the restoration or r~pair o! the property damaged. In event ot forecloeuro o! this mortgage or other transfer ! o! title to the mortgaged property in extinguishment oi the indebtedaess eecure~d hereby~ all rlght, title and intereat ot t~e t~ Martgngor ln and to any inqurance poiictes then ia torce shatl pe~ss to the purchaser or greritea. = 4. Sn order more full to rotect the securi of thls mo ~ Y P th tY rtgege~ the Mortgagor, ~Bether with and in addlUon to :a the monthly paymenta under the terms af the note secured hereby~ ott the itrst day ot esch moath an8 until esid note ia luAy pa#d, ahsll pay to fhe Mortgagee an intitalment of the taxea aisd essesements next to became due agalnat the raort- Baged premiaes, and an instalment o! premiuma next to become c~ue on insurance polides required by the Mort~ = . ~uch instaknents ehall be equai rtspective2y to such taxes and assessrnents and inqurance premiums, all a+d estimafeda by the Mortgagee, less all sums already paid thereon, divided by the nwnbor o! maaittsa that are to elapae betoro oae month prior tn the date when such taxes and aa;essment~ and fnaurance premiums will bec;oine due. Said instalmente shatl be • heId by the Mortgagee in trust to pay auch taxe$ and as9essmenta anci insurance premiums. All paymenta made under the . ~ ' terma of thlg paragraph and under the note becure~i hereby ahall be added tog+ether and the aggregate atnount thereo! a shall be paid by the Mortgagor W a eingle payment each month to be appUed by the Mortgagee in payment ot the itemr~ • ~ and in the order lollowing: (a) tases and easessme.nta, aad insurance prr.rNtu?sa; (b) interest on the note eecurod hereby; . , and (c) amortlzaUon of the rinct i a constitute a detautt under tt s mar~ of said note. Any deficiency in the ameunt at euch aggregate monthIy payment shaU - i ~ dePosited b the Mort ~e. tiVhen sueh taxee~ aasesamenta and insurance premiume lsll due, it the amounte Y gagor for auch purpoaes are not sutticies~t to pay tdid t~cea. asseas~nente and inaurance premiums, ' , as the caae may be. then due. the Martgagor will pay to the Mortgagee auch deficiency immedlatety. When such taxea, ~ ~ assesa?nent9 and insurance premiums faU due, i! the amounts deposlted by tha Mortgagor tor such pur~oae~ exceed the ` • arno~mta due for such taxes. asses~mment,g and insurance pt~emlums, the excess may, in tha citscretton ot the Mortgagee, ba applied on aubsequent monthty paymenta to be mede by !he Mortgagor. In the eveat ot default under this mortgaga ~ anY unexPended funds in tt~e hand~ o! the Mortgagse deposite3 by the Mortgagor to meet the obUgatioz~a of taxes, aasess- . ments and insurance premiume shall be applied by the Mortgagee upan the tndebtedness hereby eecur~d, in the foltowing order: (a) interest on advences made by the Mortgagee; (b) advances made Dy the Mortgagee; (c) interest on the prin- , cipal; and (d) ttse prindpal debt hereby secured. When any such ta~ces~ asee~nents or insurance premiums fall due the Mortgagor will promptly obtain and de1[ver to the Mortgagee etatements with respect thereto, The Mortgagee may ool. . lect a"late charge" equal to 4g'o oa any monthly instalment paid more than 15 daya after the due data thereon. 6. He will permit, commik or sufier no w~te, impairment or deterioratton of eaid propertq or any pert thereof. In the event ot the laUure o! the Mortgsgor to keep tbe buildings on eaid premises sad thoae to be erected an said prein- laee, or improvements~thereon, in good repair. the Mortgagee may make such repatrs res in h1a dl8cretien he may deem . j . necessary for tt?e pmpar preservation thereof, 6. He wiA PsY al1 ancl singular the costt~, chargea and expenses, including reesonable attorney's feea~ cost vf ab~ stract~ oi Utle and tit]e searc.hes incurred or peld at any tlme by the Mortgagee becauae of the taiiur~e ou the part o1 the Mortgagar promptly aad tully to puform the agreement9 snd covenanta ot sald note and thia mortgage~ and eaid costa, ~ charBes and expenses shall be immediately due and payable and shail be eecured by the llen a! thia mort,gage~ and evch expendltures ahall draw interest at thg rate oi eight per centum per annum. 7. That (a) in the event oi any breach of thia mortgage or detault oa the part pf the Martgagar~ or (b) ia the event any of said euma o! money hereia reterred ta be not pr~mptty ancl fully gaid without demand or nottoe, ar (c) ia , the event tha sUpulati~a. agreements. oondtU~e and covensnts o! oatd note and thls mo ~ rtgage are not duly. P~P~ , and fully per[ormecl, then in either or ewy auch event~ the said aggregate sum mentloned in sald note then remaining un- patd~ with lntereat accrued to that time. sad stt moneys aecured hereby shall become dne and payable torthwith, or ther~ after. at !he o tion of said Mo c ~ tated to be p ss !uUy and completely aa it s~l of the said suma ol money were originally stipu- ; patd on such day, anything in saW note or in thts mortgage to the oontrary notwithstandtr?g; and theret~~son ~ . or thereafter~ at the opUon ot said Mortgagee, without notice or demaixl, suit at law or in ui it all moneya secured hereby had matured prior to ita inat[tution. ~ ty' ~y ~ p~~ ~ . ( 8. The Mortgagee may~ at any tirae while ~ sutt la~ p ending to loreciose or to retorm th18 mortgage~ or to enforca ~ = any cla~rns arising hereunder, apply to the caurt having jurlsdiction thereoi tar the appointment of a receiver, and euch court ehall forthwith appolnt a receiver ot the premisea and all other property cwvered hereby~ fa~tuding ai1 and singular ~ the income~ pmrita~ rente~ issues arid revenuea tr~cn whaUwer source Gerived, and surh receiver st~ail have ail the broad and eifecUve tunetions aad Pewera in anywiae entrueted by a court to e receivar~ and such appointment sha,U be made by such court aa an admltted equity and a matter ot atysohite right to ,eald l~o shaU ~ 9unep ar inadequacq of tba value ot tha PrapertY mortgaged or W the sotv aad wlthout reterEnce to tha ada- dafendanta. and wch income, profttA, rwta, faeues and revenues absll be applie~d by auc~h v~ eia~ ~~~as~ or t2te this mortgage aud tha pre~ttce af such oourt~ ~nB to the itea o! i . ) • ~ B~J~ic ~~ci i~~~e~~~ _