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• ' . - . ~ s...r w~...w~ ..v.. .~or.~ ...i~ s.v..,~.~ ~+.v~..v ~.r• ~v rv.h..~~v • ...w.y~y~ •~.v ~~ry:~ ~~w ~~~7 ~f~yV~n~~Mn1 l-t ~ w1C~~'rN. ~ .
A11~iM(Itf pfOVldtd
a, 1a pqr(~t; ,4 comply Mri~ht ebide by euh end every ~dpuleti«+, •greamenL cond~i~o~ a~d covtnsni ~n s~id promiisay ~olt •nd dcsd se~ iorth.
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, 7.~ In !he evcni ~M (vriidict:on of ?h• U.S. D~~~rtct Court ~h~ll ba invoktd by or •p~'.nst tM Mortq~9et vnder any of Mt provi~fons ot tM Fsderal 6~nk•
' nrptcy Ac1, ~~tih aciion, whetAer vol~ntary w~nvolvntsry on th• psrt o( ~he Mor~9~ga, thall ?utome?iully, without rotic~, ~c<sbr~fs ~h~ mat~rity of •II wmi
of money here~n dstcribed and secured, and tAe ~+me thell ~I+troupon bccom• d~.b •nd pAyib!~ to~thwirh •s f~liy ai if tM ~aid tpq:cgi~: iv~n+ o( mo~ey w~r~
wi9?nally fttpulal~d to be paid on such dete.
8. To daliver fo aeid Mort9aae~, on w bsf~r• March iSth.of esch ye~~, ~aa receiph eviden:•lnp the paymenl of ell I~wfuily Imposed fs~ts for ~he prxed~n9
calenda~ ytai, an~i io delivar to iatd Nbr~ps9ee, ret~~y+3~ evid~nciny the payrrKnt ol all li~nf (w publit Improvemtnti withi~ nintty (90) dey~ aFter tT» sime ~hall
become do~ end pay~bl~, and to wY or dfscharQs within nin~ty (40) deyi ai?er dvt datt, any snd •II govemmen?al leviot ih~t m~y M mach on the mortgaged
prope~ry, on th~s mortfl~9• or note, u in arty ~~Mr w~y rewU~nQ from ths hbrrqaae indebltdness iacured by th~~ morty~ge; +nd if rhii cond~t~on be no~ comdl~.1
with snd per(ormed, uid mortyarn may pay iuch s~m or svm~ whtch ~1+all becom~ put o( Ihs deb~ iecur~d by this mo~lyeps, and ihall bear inter~~t u ths defaul~
:a!r gr~vic~ in ~:id promitso~y not~ paYibk monthly vn~il paid or taid MwtpspN rruy Nect th~t s~id mortpa,~ debt thereupon becoms du~ and p~yabl• tor~A-
with.
9. I! i~ IVf~I1K tONf1i.1l~ ~nd ayrHd by ~itd partin ~Mf !n tM ~v~nt oi a'wN b~in9 tn~~itut~d ~o fw~ilos• tAi• mwlpeqi. tM Mortpipt+ sh~lt D~ ~ntitl~+d lo
~pqh ~1 ~ny Nm~ pa+dnq ~~d+ fa~clawa svit to tM cowt hlvlrtp Ivri~diction ~~~rtoi fa tha sppoinim~:» ol a ru~(wr of ~II and ~input~r tM mortp~p~d p~o~+ty.
~nd of ~II t~ nnM, inca~~, protib, fawt ~nd rw~+wi ~h~~~of, trom wh~tw~wr ~wru d~rir~di Md MfTIVpO•1 it Ii hs+~by •:pry~ly cov~n+nud and ~ynad
d.st tM eowt ~l+all faehwi~h sapoTnt ~ r~e~ivrr of uid ma~p+9~d P+M~«Y. •II ~nd ~~n9u1~~, •nd of ~~eh r~nb, inean~~. P~~fi~~, invH tnd r~wno• tha~of, fiben
• wMliowx ~own daiwd, with tM vw~l powtn ~nd dvti„ o( rec~iwn ln lik• casei; and wth ~ppo~ntn»nt ~h~tl 1» m~da by ~uch coun • m1ttH oi strid r~9h~
lo M~ MortqapN, th ~vccs?ion, I~qal rprn~nt~tiv„ or ~~si9ni, snd without r~hr~nc• to tM ~d~CUxY a in~d~qwcy of tM vdw ot-tM propany Mr~by morty~y~d.
~ w to tM wlvtncy u in~oM~ncy of Ms Maf~4or. ind thaf ~uch r~nt, pre(ih. tncorn~, tuw~ and nrenues ~halt !y sppli~d by •ucA ~~c~iwr to tM R+ym~ni ot H+~
; mortpay~ ind~bt~dne~~, cwh ~nd sMrQ~, xcordinp ro tM ad~r of ~uch courl. "
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10. If all or eny part of rhe property or an interes~ therein ii iold or transferred by nwrt9sgor wlthout mort9d4~+~~ P?~o+ W~~~ttn ca+~~~~, •xcludinq tM
~ crsation oi a lien or encumbr~ntt wbord;r.ste to th~s morlp+9~, (b) th~ cre+~ion oi a p+:rchais mon~y security in~erest fo~ howchold ~sppli~nc~+, (c) ~ ir~n;fer by
f devise or dtscent, o~ by operalio~ of law upon the dts~h oi s joiot tenant, or (d) tT~ 9rant of any leas~hold intsro~t of thrce y+ui a tess not conteininq an option
fo purchu~, mortQap~ may, at i~s oplion, d~chrs ali +M wms iecur~d by this mortp~q~ to b~ immed~+t~ly due •nd payable. Morlqaqee shatl hare w~ived ivch
option to eccele~atQ if, prior to the salo or transfer, mert9aqee and the Wrson to whom the proRaely is ~o be ~o!d er tr~nsfsnsd reach aqretrrKnl in writiny~
{ that the cndit of svch puion ~s satisFadory to Mcr19a9ta a~d ?hat ~ho iNSrest pay~bte en the sums secwcd by th~~ mortga9e ihall be al s~ch rafs as Mortge~ta
CE shall reqvtft.
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~ 11. That in tM evenf tM pr«nis~s Mr~by mortysp~d, w ~ny pa:~ tANwf, ~f+~ll M condemn~d •nd f~IcM fa p~bGe us~ ~+n~ M+~ Pevv~ oI ~mina+~ dom~in,
i 1M Morty~qe~ ~MII Mve N» ri9hf to d~m~~d tMt ~11 d~m~pa award~d fa tM Hkinp ol a damay~l fo said p+smisN shall L~ P~id to M~ lNatpayM vP ro tM amoun~
~ tMn unp~td on thi~ matpsp~ and •t tf+e option ot tM Ma~paye~ n+ay b~ +DAli~d upon tM p~Ymenh la~ pay+b{~ tlw~wn. , .
1Y. iM mwt9~4or b~nds hire~~tf nor to u~et w p~rmit ~o b~ ~r~et~d snY r»w buitd~nqs on th~ W~mi~a Mnin rtwrtqa~d or to ~dd to a pt~mit to b~ ~dd?d
~ to •nY ~~~xf~tiny improwm~nls tMr~on w rrak~ any cMnya o~ ~Im~t~on~ ln ~+id improvem~nh which m~tHi~lly ch~e~p~ tM wme a rM ~st ~wi, without
~ tM writtM c«+~nt of tM MatpapN, snd in tM ~v+nt of ~ny violation Or alt~mpl fo vi01~t~ ~hi~ st~pvl~tiov? tht~ maipp+ ind ~tl ~um~ stcvrtd Mr~by sh~ll im-
nwdiHtly Mcon» dw +nd coll~c~ible N 1M oDtion oi tM Matq~pN.
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~ 13. lt fi ~p~cif~ully ~prKd tMt firew If O~ 1M K/MC~ Of tl~if COf1UK1 u+d thal r.o w~iver of any ob!ip~lion hetwndvt M of 1M obliytlion Ncvred Mrtby th~lt s~ ~ny
x tim~ b~ Mld ro b~ a w~tvtr of tM tam~ F+erwf w oI tM~ imtr~m~n~ ~ecw~d hsnby. , i__ _
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> 14. ~f tor~closun pru~~di~qa oi u+y i~cond mortyap~ or Hcond truit dMd or ~ny 1un7or lien of any kt~d shauld b~ inNitu»d, tM Matp~Se~ m~y, a~ i» op!ion.
s. immedi+?~IY u fMtHfiH d~clar~ thi~ mort9a~ +nd tF.~ ind~bt~dn~a saured Mreby dw ~nd ~Y+bb foNfiwith, u~d msy ~t +t~ optlo~ p-«eed to fw~clo~ thii
~ mat9~9~• •
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~ - _ )S. To th~ ~altnt ot t++~ tndebNdn~s~ of tM lAat~pa to fM Mortqaqe~ d~scrib~d Mrein a~ s~cvr~d Mr*by M» Mortp~ye~ i~ tmeby fubroga~ed lo the li~n a
li~ns ~nd to ti» riphb of tM own~rs ~nd holden tfureof of •~ch •id ~v~ry rnorlgay~ lisn or otMr incumbranc~ on d++ (and dacrib~d Mnin whitA tt p+id ~ndlot
~E~ ' satis{i~d in whol~ ot in parf out of th~ proceods ot tM Iwn descr~bed herein w•~cured h~rrby~ ~nd th~ resp~ctiw litna ot said mortyayes, Gcns w ott+er incvmbr~ncc~
t aMll ~nd tM_ sa~r.~ ~nd ~ach of them hereby i: prsssnsd and ih~ll pas~ to and ba h~ld by rhe Mort9~ges henin ai sr, ity fw tM incl~b~~dness to tf».MwIg+9M
~ Mnin dsscrib~d on c~rnby secur~d, to th~ sam• ~xtent that it would have betn prc~erv~d and ;would havt Mtn ws»d to ao! been Mld by th~ Nbrtp~y~t hed it bttn
~ duFy and np~hrty ~~~ipned, trani4rr~d, s~f ovsr and dsliver~d uNO th~ Mortqaqe~ by seD~r~te de~d of ~asiynm.~nt notwitAst~nd~ny ih~ fs,i fhat th~ s~rt» may bc
sitisSied ~nd canc~lled of r~cord, it beiny tM inttntion of th~ puliet hersto ~hN ~he sam~ will M s~tiffi~d and unc~lld of r~cord by eh~ holderj thereof at or ~bout
~ - tM t~m~ of th~ rccadin9 of this mortyaq*. , - ' ' .
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~ 16. To pay all snd sin9uler the costs, chsrges and eapenses, inc:vdirg lawyer's fees, reaso~ably incurred or paid at any time by the Mortga9ee, betavse of
~ th~ failvre of tfi~ JNort9ago~ to RNiorm, compty with and abide by exh and every the stipvlations, aqreert~snb, conditions, and covsnanri of sa7d promi~sory
~ note snd thi: deed, w eith~r, and _svery such paymenl shall benr interesf fra~n date at th~ default rat~ provid~d in uid promissory rate.
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~ - 17. Wh~n ~ny ~*iovnt oF morny fo M pai~ by tM Mortqper to tM Matya~ undv tfu terms Mreof sh~11 be In d~i~t~lt, w sho~~ld tM 1Vbrt9a~or d~i~ult in
~ ~ny'of tM ofMr terew, provisiaru u condifioro of this lVlottpp~, th~n and in th~~ cis~ ihe Malqaye~ sh~ll Mv~ tM riyht, witFwut not~ce to th~ Matgaflor, to
collect ~nd rec~iw iran ~ny Nnant w lesae~ of uid morty~qed pren+ises th~ r~nt~, isives ~nd protits cf tM nN e~tat• Mr~by martya9ed snd sM improvsrt+t~b
; thereon, and fo 9~w W~ r~c~ipls ~nd ~cquin~nc„ th~r~fa, •nd after p~yin9 all commise~oni of sny renul ~qenf colltctin9 'M same, and ~ny re~sonrble a~to~n~y's
= fres ~nd oth~r necnsary ~:p~nsts incvrrtd in coll~cliny um~, ro ~pply tht procecds ot avch colkctiw~a upon ~ny ind~b»dnsss. obGpaNon or liabili~y, of tAe
t Nbrtp~qw hercvnd~r. TM riyht qr~nted ths Morl~qw ~nd~r tfiii p~ryr~ph shall be in addition ro. ~nd s!»I! nol limit w restrid, sny otMt riqht or riqhts 9~~n1~d
- th• NbrtpapN in thi~ Mlorty~~. ~ _
~ 18. If tS.~ Mort9aport N th~ tirn~ of ma4iriy this Mwt9+9~ a ~vbs~qv~nt th~~eto tak• out lif~ insvranc~ desiynal7nfl tM Mu1Wpe+ Merein as *~eneficipy with s
~ company aDWovrd by tM IVbrsqsLw w n~i9rts polici~~ to tM Nbrlgs9e~ (a th• pwpo~e of securiny tM mortp+g~ Iwn h~rtby ~~evrrd, th~e th~ Mottqapt~ ?hall
i have th~ riyht to pay aehr pr~mivm xcrvin9 unda aaid policin, ~nd a11 sums so eipend~d shatl b~ add~d ro md b~com~ a psrt of tM printipal indebttdntss secvrtd
~ by this Mwtyap~ sn0 sMll be p~id by th~ Mortq~po~ to th~ Mortya4es in twelv~ eqwl comautive monthly installmentt. 1M tinl mo~thly inst~llm~nt to b~ paid ~s s
part oi md in, sddition to tM moethly p~ymHt~l dw under thit NSortya~ in tht first ulendar month iollowinp tM eapendiny of s~id ~urr.. Such •omt so expendtd
to bear inteu:l st th~ rsN at wfirch im~res~ is paysbt• upon said princip~l ind~b~~dn~ss and th~.Gsn of tfiis Mort9~~ fhatl e:ter+d to ~nd sacur~ f! t svm~ ~o e:pended
~ toqether with interat tFxr~on ~s herambvfor~ proridtd. ' _ '
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~ 19. At mwtqayee's opticn, toyather witir and in additim to the mor.ihly payment of principat and inte:est payable under fhe terms of the note secured
~ hersby, Mortga9or shall pay to N4orf9agee eech month until uid nots is fvlly paid, onatwelfth (1/12) of a sum equai tc Me annua! prem?um 3ue fu fire, e:tendcd
coversge, and othe~ hazard insurance includinq flood inwrancs, coveriny the mortqa9ed properfy, plus ta:es and assessmeori ne~t dva on Fhe mort9aged propcrfy
r (ell es sstimatr~ by Mwtgagee) less all ivms s!ready paid fhere{w, and to be divided by the nombcr of months to elapse pr;or ta tha date whtn fv_ch taxes and
- assessments shall bPcome deli~~~cnt. Said sums shall be held by Mortgages in trust or uedited to si,e Gr~r,cipa~ c: tFa lea~, to ~ay ta~d ~nsu.ance, texes, ard.
- assesiments and shall be appl:ed on the paYment thercof when due. Any e:cesi held in trvit by t~tortgagee when said loan is paid in fvll shill be paid to
f.brt~aqa, er his assigns, or personal representetiva. In the event cf a deFault or foralosu`e, said sums held in trv~1 may ba appGed on any costa of damaqee
~ s~it~9ned in connection with the collectior. of the no~e secvred hereby whether by sv~t, fwtclosure, u othervvise. IYlwtgagre may frorts tirt+e to time at it, op-
~ - tia~ waive, and aftn any svch waivei, reinstate any or all provisions hereof rtqviriny ~vch deposits, br notice to MwT9a9er in writinp. Whil~ ~ny :~ch waiver
~ is in effM; Mortga9or sha11 pay taxp, assessments ar.d incurancb premivms as hcrein elsewhere prorided. -
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' 20, Mort4a4or shall compfy with the provisior.s of any tesse, if this mortysqe is on a leauhold. ~f fhis mwryage is on a con~om~nivm unit,- morrgagor_sh~ll
~ perform all of inertgagor's obtiqations under the declaralicn ~f condominium or msster deed, the by-lews and rcy~~lations of Ihe condominium projcct and con-
stituent doc~mmt:. Mort9ay:,r fursher covenants that he and the assxialion responsible for the operat~on of the condorrunium will observe a!1 of the provisions
~ of th~ said declaration, and any a~r,trrlmetvs tbereto~ and of the Condominium-law of the state, and will perform all obligations t r artd~p f~ilv~e to do
w which is not cvrKi within 30 ~ays aiter not~cc g".ven by Me mortgagee to the mert9a9or and Ihe said association s al~ nstit~e~def yader this morty~qe. '
Mertgiyw further specificaliy covenants, Sut not by way of limitation, that he and rhe ~ssxiation will observe sl~~h~~ovisiorts of se~d declaretion of coedo-
~ minivm relstinq to +nswance cover~qe. ~ - . ~ _
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' Zl. Ntortgegor furrher cevenants and agrees that at t~e reqvest of kbrtgagee to Surnish a stendard termite bo~d,insurieg ~gainsf dam~e 6y in(csta:ion on
~ the build'+ngs now _or hereaft~r located on the mortflaged properry, :n auch amounts and tams, sr,d with svch company as.rpproVed and _reqvirrt! by Mwtga9ee:
•nd in iha event Mutgagor does not comply with this cwenant Mo.tgagee shafl have the same righfs to obta~n same ~d insuruxe, cmrs~ags 9 under covenanl
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~ - #3 hsroof. . _ `-L . _ _
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~ Y2. Thst in the event th~t tfiis morlgage is 9~~rn to secure a constructirn ban, failvre on the part of the AM1ortgaqor w th4 ~aitya~w'si~+trsctnr, archite:t,
eng:rmers, or svb-contractws ro comply w+th the terms of r}.e Constroctien Loan Agrecrrxnt of even date herewith, whi:h is by teference incwporated Ferein, shall,
- .+.+~;n+ of :he Murioawe, constitut~ a ckf~vlt hereunder.
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I~ 23. If the mMqcy~d pramises is other th~n s ax to tax famity dwdliny, tMe Monya4w covensnti ~nd sgrets tha~ F» will, not I~ter than fh~rry (30) dsys
'i ` sfter tfis end of tM fiscal yea?, fvmish unto tF» Associatio~ s complete and xcwate balsrxe sF+e~t snd profit and loss :tetement roflecting tfie AAwtyayor's lio
b+lities ss well as profit md los~ fa tha fiscal year, md svch belsnce sheet and profit and bsi statenent shill b~ prepared by s certifiM publit +ccountant li-
~ cerned in tM Sqte of Florid~, s~d shell be nrtifi~d u F.einy correct by sud~ ceriifi~d pubfic ~awnt~nt.
~ _ ~ OR~ ~
~ ~ 800K ~4U PACE~~~g
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