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Home My WebLink About0375 ' S ~ ~ . • i ~ i . • i o! the Mortgagee become lmmxeitntely due and peyeble~ wlthout notice~ nnd proreedinga may be Lnstituted by the Mort• ~ $egee tor the recovery thereoi by foreclosure of thls Mortgage~ or in i?ny other mannar permltted by law e~s the A+Tort- gag~e may elect~ anything in the nata ar !n thle Mortgage contalned to the contrary thereto notwithstanding, Upon fore- ' closure of thls Mortgege~ the Mortgagee ahall be allowed as a part af the lndebtedness secured hereby~ nnd the Mort- ; gagor agrees to pt?y~ nll costs ar~d expenses incurred in connecUon thezewlth. lncluding reasonable attorney's fee~, cost ot ~ Utle and tax search and the extenalon to dnte of an abstract of tttla or Litle policy; and in ce~se such Loreclosure proceed- ings are settled before the consummatlon thereo2 or the entry oi iudgment~ any such costs and expenses and other ~ charges so tncureed. including a ree~sonable attorney's tee, ahall n~vertheless be pafd. The Mortgagee or any party in !n• 1 L~rest~ being ihe highest bidder, may be a purchaser at any foreclosure sale. My election by the Mortgagee ss h~reln pra ? vlded for may be exerclsed lmmedietely upon detsult, ar at eny tlme thereaiter, and nothing shall be construed Lo be a f waiver of such right uNess evidenceci by an instrument in wrlting to that effect duly executed by the Mortgagee. `the 1 Mortgagor walves all right oi homestead and exemption grnnted by the Constttutlon and Lawa oi Florlda. ` i AND THE MORTGAGOR FURTHER CONVENANTS~AND AGREES: t 1. To pay the princtpal indebtedness with interest as !n the note provlded. To pay monthly unto the Mortgagee, i fn addltlon to and at the tlme and place far each payment ot principal and lnterest, an lnstallment oi each oi the follow- i 1ng charges: f (e) Taxes and assessments, general or special, end all other charges tevled or to be levled agalnst the premises. (b) Premiums to become due and payable for~ and to renew~ the insurance on the premises agatnst loss by Sre and 1 such other hazards, casuslUes and contingencies as heretn provided for or required lrom tlme to time. ~ The amount ot the respectlve monthly inatallmenta shall be equal to the amount oi the ennual respectlve charge next due (as estimnted by the Mortgagee)~ less all instalUnents already paid therefor~ divlded by the number oi monthly in- , statlments therefor bezomin~ due not later than one month prlor to the due dnte of any auch charge end ahall be sub- ! jec t to l nc r e a s e o r d e c r e a s e t o t h e e x t e n t r e q u t r e d t o c r e a t e a s o i a m o n t h l y p a y m e n t d s t e o n t he no t e no t Iess t heui one ; month prtor to the due dnte oi eny such cherge~ an nmount suffictent for the payment thereoi when due and payable. In na event ahe11 the Mortgagee receiving such payment be llable !or any Lnterest on ~ny nmount pald to !t aa herein ~ ' requtred, nnd the money so recefved may be held vrlth 1is own funds pendtng p~?yment or appllcatlon thenwt as hereln ~ provided, The Mortgagor shall furnlah unto ths Mortgagee at le~st 8tteen days before the due date an olliclnl atatement ~ o! lhe unount oi nny taxea or asaesaments next due. and auch Mortgagee shnll pay the above charges to the amount ot ! the then unused ccedlt therefor as and when they become severally due and peynble. The Morigagee may~ at its option, s pay any ot such charges when payable. either before or aiter they are c~ellnquent~ wlthaut notice~ or make advances + therefor in exceas oi the then amount ot credlt for sald charges. The excesa amount advanced shal! be immedtatety due i e~nd payable to the Mortg~gee and shalt ba serured ns an addltlonail prineSpal aum under thL instrument and bear the same ; rate of interest irom date of advancement as the prlnclpal lndebtedness. M officlsl recetpt theretor shnll be conelusive t evldence oi such payment snd o! the valldity o! such chargea The Morigege~ may apply credits held by it for the above ~ ~ charges, or any part thereol~ on accouni oi any deUnquent installmenb ot prlncipal or lnterest or e~ny other payments maturing or due under thLs lnstzvment and the emount ot credit exlsUng at any tlme shall be reduce~ by the amount i thereoi pnid or applled as hereln prnvided. The amount of the exlsting ecrdit hereunder at tha time oi any transtrr,oi the ~ property shall wlthout asslgnmeut thereoi inure to the bene9t at the successor owner o! ths property nnd ahall be epplted _ under iund sub~ect to all ot the provi~tons hereof. Upon the payment !n full oi the indebtednese~ the amount of any 1 t:r?used credit ahall be applied to the payment thereof. ~ ; The Mortgagee may collect a'7ate che~rge" not to exceed four cents (4c) tot eech one dollar (i1.00) oi each monthly ~ insta]lment payment requlred on the note and under this Mortgage whtch is more than atteen (1S) deys !n nrrears. to ; cover the extra expense involved !n handling dellnquent p~?yments. ~ 2. To pay~ when payable~ nll tsxe~.~?nd assessments, general or spec)nl, water rents and gmund nnts end all other ~ charges whetsoever levled upon or essessed or placed agninst the premises, pmvision ior which has not been made here- f inbefore~ nnd will promptly dellver the o~icial recelpts therefor to the Mortgngee; to llkewl~c psy edll t~ces. asseasmenta i and other chargea, levled upon or assessed. ptaced or made a~ainst this lnstru~ent, or the Indebtedness or any interesi o! ~ ihe ?riortgagee in tha premises or the obUgat[ona secuted hereby~ provided that the payment oi any such tax usse~- + tnent or charge by the Mortgagor is not contrary to law or would nat result in the psyment of en unlawful rate o! inter- ~ ~ est on the tndebtedneas hernby secured. In the event oi the passage after the date oi this lnatrument of any iaw o! the . ~ State, or subdivlslon thereof. whereln the premises are situated. creating or providing for any tax~ esa~sment or chsrge ~ - whlch by the above pmvLso la not to be pald by the Mortgmgor, the [ndebtedness aecuced hereby together with lnterest due ' ` thereon. shatl, at the optlon ot the Mortgagee, become immediately due and payable, and in the event payment there- ~ ~ ` oi b not mnde torthwith, the Mortgagee may take or cause to be taken such eMlon or proceFding as may be taken here• i ut?der 1n the case oi any other defautt in the payment oi the lndebtedness. , ' 3. To keep the bulldtngs and addltlons thec~to on or hereafter erecied or placed upon the lt~nd lnsured againat loss ~ by tlre and such other hazards, casualUes end contingertcies, including war damages if at any tlme a state oi war exists or ~ it appeais to the holder nt the note that war is imminent, and !n such emounts and for such period,s~ as may be required fmm lime to time by the Mortgsgee. and ta pay prompUy when due all premfums an suc1~ inaurence, provision for pay- ~ ment of which has not been mede heretnbetore. The pollctes ot insurance she~U have loss pqyable provfsions acceptable to ~ • the Mortgagee and shall be delivered to and held by the Mortgagee~ or es it may dtrect, untit Lhis Mortgage Is satlstied. ; Rcnewal pol[cles of lnsuran~, premlums !or which have been fuAy pa[d, sre to be furniahed to the Mortgagee at least E Stteen days prior to the explration date oi the lnsurence thereby renewed. Ths insuraaoe ahall be written ia companies approved by the Mortgagee; in no event shall the Mortgagee be held responsib2e for failure to pay tor auiy insuranee ~ written or for any ]oss or damage growing out ot a defect !n any policy or growing out of eu~y fallure oi any lnsurance campnny to pay for any loss or damnge insured against. Tn the event of loss the Mortgagor shsll gtve lmmtdlate noUce ~ by mail to the Mortgagee who may make proof of loss if not made prnmptly by the Mortgngor; esch Insurance companq t eoncerned is.hereby authorized and dlrected to make payment for loss direcUy to the Mortgagee instead of to the Mort- ; gagor and the Mortgagee iointly; the insurance proceeda~ or any part thereai, may be applied by the Mortgagee, at its option, Lo the expenses~ it any. incurred by it in the collection thereoi, to the reductton oi the indebtednas hercby se- cured, to the restoraUon or repair of the property damaged, or released to the Martgagor without llnbiiity upon the Mort- ~ ! gagee tor such release. All pollcles of Lnsuranee are hereby ass[gned to the Martgagee as sddltlon~l security for the pay- ment oi the sums and lntereat aecurecl hereby; in the event ot foreclosure of this Mortgage or other transfer oL Utla to ih~ ~ premises in extinguiahment ot the indzbtedness, all right, tttle and lnterest oi the Mortgagor !n and to any inaurance poltcies then in force ahall pass to the purchaaer or grantee. ~ 4. To complete within s reawnabte time any building or buUdings now or At any .time in the proc:eas at ereetton upon ~ tbe land and to promptly repaSr, reatore or rebulld any bullding or impmvements now or hereatter ou the laad whicb msy become damaged or be destroyed~ aad not commlt or permit to be done or e~dst on or about the premises anythin~ ~ whereby the premtses shatt become Iesa.valuable; to comply with all lnwa~ rules, regulaUons. or ordinarices oi any go~vern- ~ mental e?gency and not vlolate or permit the vlolatlon aa to the premises oi nny bullding or uae restrictions; to kaep th~e ~ lnnd and Improvements thereon iree trom mechanic'a end materialmen's tiens and wW not sulCer any lien supertor to the llen cree?ted by thL instrument to sttach to or be e~~forced agelnst the premtiss, 5. II deisult ba made in the payment oi taxes, as4easments, llens, cl~fms, lasurancx prrmlum~ ar at~y ather char~e f whatsoever~ or any part thereof, or in the periormance ot any nct, to be pald or peKormed by the Mortgsgor under the provVions hereoi, the Mort~a~ee may~ st its optlon, make payment themot or perlorm any a~t requlr+ed ot #he Mort~a~vt ip any tosm or mnnner deemed expedient and psy any other sum that la necessaty to protert the seettdqr of thL~ instru. ~ ment; the unounts so paid. with intereat thereon irom the dete of such psyment at the saata rate ~s borna by the prta. cipal indebtedness, shall be as~ssed ss an addltlonal llen oa the premise~ and shall be added to arM become a p~rt oi the ladebtedneas ~ecund hereby And be la~mediately due and payable to the Mortgagee. Mr paymep~ bereb,y iuwor~ed to be i mnde by tt~e Morteagee may be made acrording to any bili~ statement or eatimate furnished or procured iro~a tlse e~ppro. I prtste publle oaice or tbe party clalr~nfng pAyment wlthout inqutry into the ~ecurac~r or valldit~r thereo~ e~ad the recript oi ~ ~ny publlc otticer oc party in Lhe handa of the Mortgegee sbatl be conclustve evidence ot tbe ve~lidih asd am~u~t oi iteno~ ~o paid: the Morteegee shali. at its optton~ be a~brogated to any encumbrance. llee~. elatm ,or d~muW, ud tp ~11 the ri~hy t a»d aecurittes for the payment Rhereot, patd or dtsshergecl rrith the prlncipal sum secured hereby or br tl~e Mort~ea + under tAe pr+av~fdosu~ hereot~ uad aay such submgatlon ri~hb ahall be sdditlonal ~nd aumuk~tive ncurll~ to this Mort- t~• . ~~RK ~03 j~~E~~~