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HomeMy WebLinkAbout0864 . . (9tate o! Florida dociunent~auy ~tamps ir~ the amount ra4ufrocl by lew are aiYixecl t~o the ortginal o! the ioregoicig note and c.~acelled pur»uant to law.) And ehall duly ~romptly and fuAy peMortn, dischargo, execute~ etiect, oomplete end comply with snd abide by ~ each and every the s~tputatlons, agreemante, cundlUona and covenants ot aald pmml~sory noie end o! thls mortgage, then thls mortgage and ths e~tate hereby created ehall cease and be null and void. ` And tha biortgagor o~venante and agc~eea to and with tho Mortgagea ea fol2owe; , 2. He will pay the principal and tnterest and the va rlou$ and aundry aums oi money payable by Wrtue of aafQ promlasory note and thla mortgage promptly on the daya the same became due and he will prompUy pertorm and aom• ' ply with each and evary other covenant and agreement !n aaid promisaory note snd raortg~e. ; ~ 9. He will pay the taxes~ aase.~nente, levies, liabllltlee~ obllgation~ and incumbrances ot every nature sad k1ns1 ~ i now on said described property, or that hereafter may be imposed~ sutPered, placed~ levied or as~eesed therean, or that ! I het+eafter may be levied or asses.ged upon this mortgage or the indebtedness eecured hereby, when due and payable aooord. f ing to law~ before they become dalinquent, and betore s~y lnterest attaches or nny penalty Le incurred; and in so tat as ~ ea~y thereof ia of re~cArd the same ahall be p~mpUy eatistled snd discharged o! record and tho origtnal oiticial document ' ~ evidencing euch saUatactlon and discharge ahall be placed in the hands o! aaid Mortgagee withln ten daya next atter pay- ~ ' ment, Zhe oovena.nta and agreementa In thfa paragraPh shatl nat be appllcable to trie :axes and sasessmeate which are ~ , to be pald out ot the husds depoetted wlth the Mortgagee under the tem?s oi paragraph 4 af these aovenants and agree- } tuemts. ~ ; ~ ~ ~ . . , a. Fie w1U keep Ltee lmpmvemente now exlsUng or hereatter erected on the mortgaged property inaured against ~ lo~s by lire ea?d other hasnrda caeunlttee and oontingencles !n such amounta nnd !or auch periods ae may be required by ]rtortgagee. All instu~ance eha~t be carried in companiee approved by Mortgagee and the pollcies an@ renewals thereo! ahall be held by Mortgsgee and have attachec] thereto loss payable elauaes in tavor of and la form acceptable to tha : Mortgagee. In event oi loss he will gtva immediate notlce by mail to Mortgagre~ utiA Mo may tr.ake proot of loas if not made promptiy by Mortgsgor. and each Inaurance campany concerned 18 hereby a~rized and directed ta make • payment for such lose directly to Mortgagee inetead of to Mortga,gor and Mortgs~gee ~ointly~ an~l the ineurance proceeda, or any part thereot. may be applied by Mortgagee at ite opUon either to the reducUon o! ttte indebtednese hereby ae- . cured or to the restoraUon or repalr ol the pmperty damaged. In event o! foreclosure of th19 mortgage or other tranafer r. o! titla to the mortgaged pmperty in extingulshment oi the indebtedneas aecured hereby~ all right, title and intereat of the ~ortgagor tn and to any insurance pol[ciea then in torce shall pass to the purchaser or grantee. . 4. In arder more fully to protect the eecurity of this mortgage, the Mortgagor,toge ther with emd in addition to the monthly payment,s under tha tera~a of the note eecured hereby~ on the itrat day ot eacfi month ana tintll asid note ls fu11y pald, shall pay to the Mortg~agee an instalment oi the t~ces a~ aaseasa~ent,y npct to become due egainet the mort~ gaged premie~s, and an in~tatment of premium~ next to become dua on insurance polidea requtred by the Mortgagee. - _ Such Instalmenta ehalt be equal respectively to such taxes and assessmente and insurance prrmiums, all as eattmated by tha Mortgagee, less all arums atready pafd thereon, dlvided bq the number oi mantl~ that are to elapse before ane month prior to tha dats when such taxes and ~sseasmente and inaurance premiums wiil beoome due, 14atd instalments shall be hetd by the Mortgagee in tivst to p~y auch tsxes and as~ments and insuranee premiume. All paym~nta made under tha tern~s o! this paragraph and under tha note eecured hereby ehall be adsied together and the aggregate amot~nt therooi ahall be patd by the Mortgagor in a eingie payrnent cach month to be spplled by tha ~+iortgagee in payment at the it,erae ~ and ln the order follorving: (a) ta~cea and aasesffinents, and ln~nuance premiurt~a; (b) intereat on the note aecured hereby; ' and (c) amort[zation o! the prtncipal o! said note. Any detidency tn the amount af such aggregate mont2ily payinent ahall . caasstitute a default under thls mortgage, When ~ch taxes, aasessment~ and lnsuraace Premlurns lall due, if the anwunta ` ' depoaited by the Mortgagor for euch purposes are nat eutticient to paq ae~fd taxea, asseaament,~ and insurance pramiuma~ , as the case may be. thea due, tha Mortgagor will pay to the Mortga,gee ~uch defirlency immediately, VVhen auch taxea, ~ assesarnenta snd insurance premlurr~ fali due, it the amounts deposlted by tha Mortgagor !or such purpoaes exceed the , amounta due for such taxe~, assessments and in~urance pr~niwns. the encess may~ in the diacretion of the Mortgagee~ be appited on r;ubsequent monthly pqymente to be msc2e by the Mortgagor. In the event o! delault under this mortgage . sny unexpended fursda in the hands o! the Mortgagee depoalted by the MorLgagor to meet the obligations o! taxes, as.~ess. ~ ! ments and insurance premluma ehali be applted by the Mortgagee upon the indebtednesa hereby secured, in the tollowing ' order: (a) lntereat on advances made by the Mortgagee; (b) advances made by the biortgagee; (c) intereat on the prln- ~ dpal; and (d) the principal debt heroby eecured. When any such taxes~ asseasments or insurauce premlurns lall due the Mortgagor wiU promptiy obtain +and dellver to the Mortgagee statemcnts wlth respect thereto, Tbe Mortgagee may col- lect a"late charge" equal to 4g'o an any naouthly instalment pald inore tban 15 daya stter the due date thereon, ~ 6. He will Permlt, commit~ or suft~r Ao waste, impairment or deterfosatlon ot sald pmperty or any part ~t. , In the event ot the tatlure ot the adort,gagor to ksep the bulldinge on said premise~ aud thoee tA be erected a¢~ aaid prem_ isea. or improvementa thereun, in good rePair~ the Mortgagee may make such repatra as in his dLscretlon he may deem nec~sary for the pmper prese.rvatton thenwf. 6. He wW pay all arW singular the cjosta, ~rBes and expenses, including ressonable attorney'a fees, coat oP sb- ~ stracts o! Utle and title aearche~ incurred or paid at anq ttme by the Mortgag~ae because of the tsilure on the Mortgagor pramptly an@ tully to pertorm the agt~eements anrl covenante oi said note and th1.s mo ~ ct the rtgage~ atW $aid c~ste, ~ ~ charges and expenees shall be immediately due and payable and ahall be aecured by the llen ot thia mortgage~ and euch e~cpendlturea shalt draw interest at the rate of etght per cea~tum per aaneun. • ~ ` 7. That (a) in the event of any breach ot this mortgage or default on the part of the Mortg^agor~ or (b) !n the a event any of said si,uns of money berein reterred to be not promptly and lt~lty patd wlthout demered or notlce, or (e) ia the event ths at(pulattons, agreemente, oondiUona and oovenants o! said noto and thls mottgage are nat dulY~ ~P~Y and lully performed, then in either or any such event~ the said aggregate aum mentionecl in e~ld note +.hen reu~ing ua- paid, with intereat accrued to that time, and aU moneya secured hereby shal! become due and pAyable torthwith, or Wara . atter~ at the option oi said Mortgagee, oa fully and completely as i! a{1 of the said aum$ oi money were orlgtnally ettpu- ' lated to be patd on such day~ anyt.hing in said note or in this mortgage to the contrary notwithatanding; and ttiereupon or thereaiter, at the opUon of said Mortgagee~ wtthout notlce or demand, suit at law or W equity, may be pmsecuted 8a it all moneys secured hereby had matured prior to iko institaUon. i' 8. The Mortgagee may, at any time while a suit is pending to toreclose or to reform this mortgxge or to entorco ~ any claims ar[sing hereunder, apply to the court having jurisdict[on thereoi for the appointment of a recetver~ and euch 1! court ahall lorthwith appoint a receiver oi the pr~nlsea and aU other property covered hereby, Irsciudtng atl and atngular ' tbe inc~me, pmifta, rents~ iaeues and ravenues irom rvhataver eource derfved, and such recelver ahall have all the broad and etfecttve funotton~ ~nA powers in a n y w i a e entrus t e d by a court to s recefver. and such appointrnent shall be aiade by such oottrt ae an ttdmitted equtty and a matter of etbsotute right to eald Mortgagee. and withaut reterence to the ade- qttacy or inadequacy oi ttsn value o1 t~e property mortgaged or to•the eolvency or insolve.ncy ui aaid Mortgsgo~r oa~ the ~ oa defendanta. sad such income. Protit~. re.nta, issuea and reveaues shall be applied by euch reoeiver Aocording to the liea at ttiia mortgage snd the precttce at such co~ut. ~ , ' . . ~ i ~ ~ ~ ~ ~ R,,~~ 104 ~~c.E264 _ ~ .