HomeMy WebLinkAbout0945 the Mongaged P~operty ~nsured as rnay be requ~red trcm c~-r.e ~o :~Te ~~~rcgagee aga~~s< <oss oy ~~re. otner
hazards and ContingenC~es ~n SuCh amounts and to~ such per:ods as Tay be requ~red by Mongagee. Mongagor
shall pay promptly, when due. any prem~ums cn suc'~ ~nsurar.ce au +n5uranCe sha~! be carr:ea w~th comoan~es
approved by Mortgagee and ;he poi~cy and renewais ~bereof sha~t be ne~d by Mortgagee and nave actached ther~o
loss payabie ciauses in tavor and ~n lorm acceptaC~e ro Mc?~gagee tn tne event of ~oss. Mortgaqor shau give !
immeaiate not~ce by ma~l to Mortgagee and Mortgages ma~ ^•aKe proot of ioss ~I not made promot?y by Mortgagor ~
Each ~ns~,rance company concerned ~s hereby autr,~r~~ea and d~:ecsed to make payments for such ioss d~rece~y
to Mortgagee ~nstead ot e~ther to Mcngagor or 1nor~gagor arci Mertgagee lo~ntly insurance croceeas or 3n~ Odrt
[hereof may be appi~ed by Mortgagee at ;ts oec:on atte~ .".eC,~c; ~g tne~efro:n au ts exeenses nc:ud~^g accr^ev s ~
fees. e~ther to the reducuon of cne ~nCeo~edness +~erec; sec~r~ ~r to tne ~res~crauon or ~eea~r ;ne ~r~~om~
damaged. Mortgagee ~s nereoy autn~r~zecl. at ~ts o~t~cn !0 3e~t:e and ~~mprom~se any c:a~~^s atvares car~ages
~~gnts of acbon and proceeds, and any other payment or rei~et ;,naer any ~ns~rance po~~cy in the event of forec:osure
of th~s MoRgage or other trans(er of t~tie to th~ Mongaged Pro~erty ~n ext~ngwshment of the ~ndebcedness secured
hereby, aii nght, htle, an~ interest of Mor,gago: ~n and ro any ~nsurance po~~c~es then ,n force snau p2ss co tne '
purchaser or grantee. Mortgagee may at ~ts option requue Mortgagor ro deposrt wnh Mortgagee on cne hrsr ~ay
of each month, in add~tiun to making payments of pnnc~pa~ and mterest, unt+l the Note ~s tuily pa+d an amount
equat to one-twe~fth (1r'1Z) of the yeany prem~ums for all msurance. Such depos+ts shall not be. nor be deemed
to be, trust funds, but may be commmgled with the general tunds of Mortgagee, and no ~nterest shat~ be ~ayaoie
in respect thereot. Upon demand by Mortgagee. Mortgagor shai! det~ver !o Mortgagee such adC~t~onai mon~es as
are necess~ry to make up any deficiencies in the amounts necessary to enable Mortg~gee to pay such prem~ums
when due. In the event of defauit under any of the terms. covenants and cond~tbns ,n cne tvate. cn+s Morcgage
or any other insttument secunng the Noce ta be performed or observed by Mongagor, Mortgagee Tay app~y co .
the reduction of the sums secured hereby..in such manner as Mortgagee sha?I de[erm~ne. any arr.aunc .,nder ~n;s
paragraph rema~ning to Mortgagor's credit and any return prem~um rece~ved frpm C3nCe~~Bt~on o~ any ~nsurance
po?~cy by Mortgagee upon foreciosure af th~s Mortgage.
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a. Condemnation. it the Mortgaged Properry or any part re.eof s,.au e amaye,. ~r taken ttircucr c2. a.:or. '
l~rohiCh t2rm wh2n uS@d h2r@f~ Shglt ~ncluCe any damage or !gkinG by ary _CVernrrenta~ 2utrcnry or ary ~I'^e~ d~t^C~'h~ .
authonzed by !he taws of the State of Ftonda or the Unrted Srates of Amer~ca so Ca~^ace ~r ~aKe an~ ar.y ~~a^s'_~ . a~=
saie I~2U tnereot~. e~tner temo0rar;lv Q~;,ermar.ent;y. !he ~r[~re ~rr.eC?~~^?SS ~TC ~.^°r S;,^^S S2L'!.t@C "2rc~•. 5^~ ua. "c .
optroR of 1Aorigagee. become ;mmec~ate!y Cue anC payac!e. 1~?cr.cagee s^a~ ~e ~rc•~~ec a~s ~c^-~e^sa~ ~ ~::a•~;
Camages cia~ms. r~gnts of act~on and ~r~ceeos of. or on acco~nt of any camage o~ ~a~c~ng~~r~~~n corCe^^^ar.;:~ a~• ~;1~~~a^ ;
authonzed. at ~ts ept;on. to commence. appear ~n and prosecute ~n ~ts own or h,~~rc~_aycr s^a!~e a.^.y ac~~e~ ~ ~!-ce~c^^
relating to dny condemratien, and to settle or comprom~se ~ry c~a~m m connect~on therew~tn AH suc!~ ceT~@^Sdi C~ 3:'. ~r~s s
damages. cla~ms. nghcs of act~on and proceeds. and any other payments ~r re?~et. and the r~gnt ;nerero. are r~ereoy ass;c^ec ~y
Mortgagor to Mortgaqee and Mortgagee after deduct+ng tneretrorn au ~ts expenses ~rc~uc~r.g a~te~~e~~ s'ees rati ~e±ease a^y ~
monfes so rece~ved by it w~thout affed~ng the lien of th~s Mortgage o~ may appty tne same +n sucn :nar.ner as ~~'cr.~a~ee s~a: ,
a determ~ne. ro ine ~eCucUOn of the sums secu~ed hereby anC to any orecayme~t ctiarge orov~ce~ ^ t^e Ne~e s':':;^ ~~ce ~ ~
s any other ;rstrUment seCUnng the No;e Any oalarce Of suCh mprnes ~~en •er~a~~+rg ;na~~ :.e ca~c ~:'•c~~ca:~~ -~acc• ~
agrees ;o execui2 suCh further asS~gnments or any compensat~cns. awarCS. ~amaces C:ei~S ~~C^tS 0.` 3C: ;.r. ~r~ ~c_
as ~tongagee may requ,re. v
5. Caro of Mortgaged Property~ Utortgagor shail not remCve cr demo~~sn any Ou~~d~nr~ pr C[hgf prCCem; `c~^-~rc a ~a~t
ot tne Mortgaged Property w~mout tne wnrten cansent of Mortqagee. Mortgago~ snau not oerm~t. comm~c .;r s~rer arv .ti~as;e.
imoairment or oeter~oration of the Mo~?gageci Property or 2ny part thereof. and sna~i ~ceec the sar^e and ;mcrover^e~ts ~r•Erecr. ~
~n g0od Condihon and repdir Mcrtgagur ;t~an nat~fy Mortgagee m~r~nting w~t!~~n !ive ~ 5~ Ceys of any ~amag~ .r ^~ca~~-~e^!
'ne Mor!gage~ ?rccerry ~no~tgagee may. at ',Acngagee s d~scret~on. r.ave the !~^cr,gacea Prcoe^.y :rsNec~e~ a~ ar~, • Te a- ~
1Aortgagor snan oay an cos~s ~ncurreo by ~Aortgagee ~n exe~ut,ng s~cn mscec:~cr.
6 Mortgagee's Right to Make Certain Psyments. ~n ;he evert ~.tcr';aycr ~a~~s ~c ~ay :,r ~:sc^a~~e
assessmen~s. ,ev~es. +~ao~ht~es. coi}cat~ons and enc~m~rances or ~a~~s co ~ceec'^e!~tcrgacea P-oce~t~ ~su-e~ • ~ ~e , a--~~
~c~~C~es. premwms pa~~. or ~a~~s ca reca~r ~ne .'Nortgagea Procerrr as here+n acreed. `Acrtgacee Tay z! ~s ~c~ ~a~ ~
a~scnarge ~re taxes. assessmen!s. iev~es. sab~~rt,es. and obligat~ons and encumorances or any oart ~~efeci ~c ~-cc;.:;e aro
pay far such ~nsurance or ;o make ana pay for s~ct~ repa~rs. Mortgagee shau nave no obhgat~or on .ts oarc ~c ~~~er^.-~r,e ~`^e
vaiid~ry or necessity of ary payment thereof an~ any such payment shaU not wa~ve or a~tect any oot,on. '~en ~u.:y ~r • gnt of
~tortgagee un~er or py v~rtue ~f m~s ~Aortgaga. The `uii amount of each and e~~ery sucn payment s~ai? be ~~^^~eC~a}e~•: ~~e ar~
oayaole and sna~l cear nterpst ~rem t~e tlate'.r12!B0~ unt~! ca~d at tne Detauit aate 35 he!~~^aRQ! ~e' ^e~ a~^~ ~-~e~~2~ .
sucti mterest. sna~~ oe securea oy 'he ~en ~f tr~~s ~~ortgage. Noth~ng nere~n conta~reci snan :,e ~~nst~:,e~ zs •x;,:r~ny
UoRgagee to advance or expend mornes for any af the purooses ment~oneq ~n thss paragraph
7 Payment of Expsnses. Mortgagor shait pav aN the costs. charges and exoenses. ~ndudmg ~easenaole attane~, s
~ees. disoursements and cost of atrstracts of t,tle. mcurreci ~r paid at any t~me by Mortgagee due to the fa~lure or tre oart c!
Vlortgagor promptly and tuuy to pecform. compy w~th and ab~de by each and every soauiauon. agreement. con~~t~en anC
covenant of the Note and this Mortgage. Such c~sts. charges and expenses. shail be ~mmed~ateiy due and oayabie. wnetr.er or
r,ot there be neace. demand. attempc to conect or su~t pen0ing. The fun amourt of each and every sucn oaymer.e ;rai~ ~Aar
~nterest from the date shereot unt~l pa~d at cne Jefauit Rate. as rere~nafter cefired AiI s~Ch costs. cnarges and sxcerses so
mcurred or pa~d togetrer w~th such ~nceresc. snaft oe secur~d by the ~~en ot tn~s'~c7yage ar.a any atner r,str~ment ;ec~r:r.c c^e
Note '
8. Aher Acquirsd Propsrt~r. T~?e i+e~ of rr,s hlortgage wai au[omat~ca~~y artacn N~tnout further act. ~o a!~ aiter acou~reC
arcperry of wnatever k~nd iocated ~n or on, or attached to. o~ used cr ~ntended to be used ~n connect~on with or ;n tr.e ece~ae~cn
of tne Mortgaged Property
9 Additional Documents. ~t a;• :,mes ;h~s "~lortgage :s ~n ef+ea. ~aon h~tc.^.yagee s rec::es~. ~'c~tcagor ;;+~n ma?ce. ,
execuee and pe!~ver ~r ~ause ;e ~e ^~ace. ~xec;.te~ and oei~ve~ed ;o "~crtgagee ard. ~,vrere aocrc~~~ate s~a~~ cause ~o be
~ecorded or filed anC ?rereafter to ~e ~e•~ec~rCed o~ ref:~ed at sucn t~me ar.0 ~n SuCh ;,!aces as snai; ce aee^~eC ces:ratiie oy ~
~tortgaCee any ano au sucn 'unner Tcrtgages. ;nstruments of tur,^er assurance. certrt~cates art~ ;,cher ~ocumsnrs as •
AAortgagee may cons,der necessary or des:rable crder roe~+eci::ate. c~r.^p;e~e eniar~e. pertect. er;o ccn?mue anC creserve
cne oCi+qat~ons o~ 1~~or.~aco~ ~nCer ~he yo:e an~?!~~s'.~cr.~aye a~c a~i other r.Siru!rer,!S se~ur•nC the Nc;e anc ttie ~~e ~ o; trns
~~ACrtgage as a',rsc ano N~~C! ign ~~Ln aii 'ne ti~ortcayec ?•oee~y ~.;coc ary `a~:;;r~ ~y Vott_aocc ~o ao se. ~tergagee Tay
make.8xecute. ~eWrC:'~~e. ~e-~ec~rd. ;,r •e~~!e ar.y a~~ ail ;~ch r"!Orty^dC25. 'n5ir;;mer,s. ^er,;`~^ace; anC Coc:.Tencs `~r ar:C,n
the name of Mortgagcr ~tor?gagor ~ereo~r rre~ccaoiy ao~c~n;~ `•~cr~yaeee age^c ana ar,~r%ey-~~~-;ac~ ;,r Viertgagcr ~e ~:o a~~
00~498 P~ 94~ .
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