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Home My WebLink About1646 . ; _ ~ ~ ~ ~ _ -~~~..._-----~._..__.u...__~_.~._ _,___-~__..s _ . . - _ , • - _ . _ _ 11. Th+t (n th~ tvent tM pramiia Mr~by moMyp~d, v~ ~ny p~rt ,thKpf. tAdl b~ ccndemn~d ~nd t~k~n iw ~p~blk uM ue+d~r tM powH o} ~minMt dwn~in, . fM A4orlp~pe~ ~hall Mw tM riqh~ ro domM+d rh~t •II d~nuq~t iward~d fw tM.f~kinq o( or damaya ro u~d pr~mim shall b~ Mid to tM Morty~~a up fo ~M ~moun~ _ tMn urp»td on Mi~ monqag~ ~nd ~t tM ovtion of N Mo?rw9+• m+r b. .w~t~d vpon rM paym~nh Inf p~y~bt~ tM.oon. , , 12. TM mwtq~pw binds htm~rt/ no~ to u~ct o~ Wimit :o E~ axied ~~ny new tiuildinys on tM PnmisN Mtitn matpa~d a.ro add to or.:ptrmit to M~dded 1o sny o~ 1M •xi~tinq improv«n~nts tMr~on a msb any chsr+pN a~NHafion~ in s~1d improwm~nri which nuhridiy cMny~ tM um~ or the vs~ rhKeoi, •:.~than fM writt~n <ons~nt of tM M«t9~, snd in tM wem of any vio4~ion a~ttempt to viol~t~ this if7pul~tion thia maty~y~ ~nd ~~I sums ~~cur~d Mnby shill im- . mtfii~ttly b~coen~ dw ~nd tollatibl~ ~1 tM option of tM Mortp~p~• _ . . _ 13. U i~ ~p.c~fiK.lly •p:..d H+ar t~m. is of tM nHnt~ oF Ihi~ coN~~cl sm~ tMt no w~iwr of ~ny ob!iy~tion Mt~und?r o~ oF tM obliy~lion s~cwcd h~~~6y sh~ll any tim~ b~ Mid to b~ • w~iwr of th~ tKm: hir~of u of tM irotrum~n~ ~ecvr~d h~r~by. ~ . . ~ ~ • ' 1<. If for~ctww~ proce~diny~ af ~ny ~cond r.wrtp~~ w ~aond tr~it dNd o~ any junior G~n of any kind should b~ ins~ifvnd, fh~ Mortyases m~v, at iti opt~on, _imm~d;a»ly or tMrNfln decla~~ thi~ morty~p~ ~nd ?M ind~bt~dnK~ i~cured Mr~by du~ u+d pay~bl~ forthwith, ~nd m~y ~t it~ oN+lon Fraeed ~o faecto~~ th~s mutp~p~. - 1S. to th~ •+cf~+t of tM ind~bMdn~~ of tM Mortpapu to th~ Morryape~ dacr~b~d hsrein u secur~d h~reby tM Mor?p~qe~ i• h~rcby subropNSd Io the li~n or litna a~d to t!» ripAf~ of tM own~n +u~d hold~~s tMr~of of •~ch ~nd ~very rtwt~g+Qe ~ien o~ otMr intumbr~nc~ on tM I~nd dVt~ibtd heruin which i~ paid and/w iatisii~d in whol~ o~ in puf out of th~ ptuctdi of Ih~ loan dttcribad hcnin or ucured h~rcby, ~nd tM trspettive leer.s oi se9d .-r:f,^,ay:s. lisnt ir att~r inc~mlxances ~I! t» md th~_ ume ~nd exh' of tMm hereby is pramtd •nd ?h~ll pass ~o and D~ held by the Morlyape~ Mrsin ss secvrity fa tM indeb»dnqi to th~ kbrt~aqe~ htrein desuib~d or hersby iecvred, to th~ sam~_exlen~ that it wwld haw bccn preserv~d •nd wovld have been paased to and besn Mld by th~ Ma~pp~e ~ad it bccn dufy and ~tqolarly ~ssipntd, ti~ni(ared, sN over and d~liwr~d unto tht Mortgaqee by sepant~ de~d of atisi9nment noswithst~ndiny M~ fact th~t th~ »m~ m~y bc _ sa~isf:ed snd canc~lted of r~cad, if beinp tM intenfion of the p~rlies hereto that th• ssm~ witl b~ ~~tit(i~d ~nd uncelled of raord by Sh~ hol3er~ thertof at a sbout tM IEma of the recadin9 of this mwt~Qe. - - - 16. To pay all aod s~ngular the costs, cha:gcs and e:penses, induding lavvyer's fees, reasonably incwred or paid at any tirr~ by the Mortyegee, bsuvN of , the failure of the MoA9ngor to perform, comply with and ebide by each and every the stipulntions, apreements, conditions, and covenanh of said promistory note and this decd, or either, snd every such payment shall bear interest from date at the default rats provided i~ said promissory note. 17. WMr? My u++ovnt of maiey te b~ p~id by tM AAwtq~yw to tM Mortqa~ und~r the ferrry Mr~f~ ~1+a1) be in: dtf~vh~it :hould . th~ Mortq~por defevft fn ~ any t~ 1M otMr 'erm~, provisiwu w conditio~u of ~hi~ N4ort9aqe, th~n ~nd in that us~ ~he N1ort9+yN~fl~ll ~h~w tM riphl, t}eout notice to th~ N~wty~flo?, to coltect and receiw from ~ny fe.~nt a FssaN of said mortp~p~d prtmiin the nnq, isiuts and profits af tM rNl aUr~ henby morlq~prd and th~ improvsrrxnr~ th~reon, and fo yivt prop~r nc~ipts ~nd ~cQuin~ncn 1Mrtfw, ~nd ~fter wYin9 ~11 commiss~on~ of ~ny r~nul ~pen? colkc~iny tM_ume, ~nd sny reasonsbl~ atrorney's fm ar.d e!hY r.ecese!ry •x~nf~t incurred in collxtiny sartH, to ~poly th~ procteds of wch collecl~c.nf upon any indebt~dnes~, obliyation w Gab~lity, of tYx Abrlys4or he~eundtr. TM rig~t yrantsd tht Morl9ay~e unds? thi~ par~9~iph sh~U b~ in'eddition to, ~nd sFull not limif w rytrict, ~ny other r~ght a riyAts qranr~d th~ MorlpsQs~ in this Mort9a4e. 18, I( th~ Matp~pws sf the firr» of m.akiny fhis Morty~Q~ u fubs~awnl thsreto tak~ out life insuranc~ dttiqnslin9 tA~ Mxlp~pc~ herein si btnefiti~~y with s company ~pproved by eM hAony+gN w s~si9ns poficies to t}» Mortqa9N fa the purpou of secvrin9 th~ mortpaqe lor~ hereby secured, then th~ 1V1wtq~p~• th~Il ' hive the rigAt to psy my prtmive» atcrviny vndtr iaid policies, and ~II sumt so expended shall b~ +dd~d ~o and b~coerK a p~rt o~ ti:~ principal indebtedr+s?s secured ' by this AAortga~ and sh~ll b~ p+id by th~ MortgaQor to tM Mort4ayee in tweiw eqoal consecutive monrhly insqllmsnb, tM firN monthly initatlment to t~ psid as a p~rf of tnd in addition to tM monthiy p~ymtnt tk• undtt this Mor~yaye in tAe first ulendsr moMh followiny tM e~ptndin9 of said ~um. Such sum.s so expendsd • to 6ear inlerest st tM rsM st which iMerest it paY~bl~ upon wid principal indsbtednns and Ih~ lien of thi~ Mwtqa~ ~hall ealend to snd aecur~ the aum~ so espended ioqe~her with inttrat tMrwn henmbefa~ provid~d. ~ 19. At mortgs;ee's option, toqether with and in edd+'tion •to the monthly psymer.t of principal and interat payable under the terms of the nnte secored - . hereby, Mortgagor shill p~y lo Mwtyagee exh month until said note is fulty paid, onttwelfth (1/12) oF a:vm equal to the annual premivm dw for fire, extended " - covereye, and ofiher hazard inturance includinp flood insvrortte, coveriny the mortysged pro~xrfy, plus tazes and astesaments nexf due on the mwtgafled properfy (all at atimated by Mortflayee) less alf tums already paid there4or, and to be divided by the nvmbe: of rranths to elapse prior to the date whea such taaes and - assessments shall become .ieGnqoent. Snid soms ihall be F.eld by Mortga9ee ~n trust or credired to the principal of the loan, to pay said insurance, taxes, and assessments and shafl be applied on tha paymeM therrof when due. An/ rzcess held in frust by Mort9agee when said loan is paid in fuli ~+all be paid to - Mwtfla4w, or hIs asfig~s, or personal representatives. tn the event of a defaule or foreclosure, sa~d s~~IST`held in trvst may ?x applied on any costs of damagea _ ~ :ustained in connzctia~ with the collection of the note secvred hrreby whet~er by suit, foreclosure, or otherwise. Mortgagee may from time to time at ifs op- tion waive, and after any such waiver, rtiriytate any or all provisions htreof requi~iny s~ch-d¢posits, by notice to Mwtqagor in writiny. Wnile any such wsivlr ~ is in effett, Mortgaflor shall pay Uzes, as~essmMh and inwrsnce premiums es herein elsewhere provided. :i ~ - . _ - - . ' ~ - . . ~i ip. Mortgaqu ih~l) comply with iF.e provisions of sny lease, if this mortgaqe is on s leasehold. If this mortgage is on a cor.dominium unit, mortg5gor shall Wd petform all of mortgtga's obligatiuns under the declaration of <ondominivm or maiter deed, the by-laws and reg~lations of the condominium projKl and con- ~ C7 stihxnt docvmcnts. Morrgapor fur~her covenants that he and the assxiarion respons~b:e for rh~ operation of the condomi~ivm wili observe all of the provisions . , x~ of ~he snid dedaration, and any amendmmts therero, and of the Con~'ominivm !aw of the atare, and.will per{orm atl obiigar;o~s therevnder, and a failvre to do j~~ so which is not cvr~ w:rh;n 30 days siter notice givcn by the mortgagee to the martqaqar cnd the snid a:sociarion sha? const~tute a defautt vnder this mo•tga9e. Nbrtgagot fu?ther sperifKally covenan~s, but not by way of Gm;ution, thst he and the assxiation will observe all af the provmons of sa7d dcclsration of condo- ' ~ minivm relaTinq fo insvr~nce cover~qe. - - - - ~ . _ ' ~ 21. Mortgagor further covmant: and ~grees ~hat at the reqvat of Mortsagee ro_furni:h a standard termite bor+d insuring ayainst damage by infeitation on ~ ~1 tl~e l,viid~ngs now. or hereafter Ixated on the mort~e9r! Propery, in svch amount: and terms, and w~th such company ai approved and reqvired by Nbrt4a9K: ~ and in the evmt Mort9a9or does not comply ~vith this covsnant AAortgagee shall have the same rights to obtain same as insuronce coveraye under covenant ~ ~3 hereof. _ _ - 22.. Thst in the event that th~s mortgage if 9iven to secvre s conitructioo ioan, faiture on the part of the hbrtgagor w the Mort9agor's conYador, architect, en9ineers, w subtontrxtas to coa.,ily with tM te~ms of the Constnidion loan Agreemsm of even date herewith, which is by tefcrence incorpwated hero~n, shall, ~ _ at the oplion of the Martyagee, constitute a defaolt .hereunda_ 23. If the mortgeqed ptemiies it other than a one ~o fovr femily dwellin9. the Horiga9w covenants and ayr~es that he will, not la4er than tfiirty (30) days ~ aHer the end of the fiscal yea~, fvm~sh voto the /~SS«istion a complete-an!1 accurate bahnce sheet and profit and loss statemcnt rtflKfing the A1lortya,~ors lia- bilitie~ as well as profie snd loss for the fixsti yoar, snd tuch tytance shett and profiit and loss~ staterr+cnt shall be prepared by a c2rtified pvblic acawntant IF ~ censed in Me StsM of Flctida, and shall bs certified ~s bcin9 carett Lyr such cerfified pvblit mounTanf. - ~ ' .