HomeMy WebLinkAbout0945 2 Payment of Taxes and Liens. Mortyayor sha~i ~>ay all thc taxes. assessments iev~es I~ib;~,~es oir:yat,o~~s r~nc~
~n.^,an;brances o~ every n<~ture no~.v on the Mcrtgayed PioE~erty or that hereafter rnay t~e ~mposed. tev~ed or ~~ssesseci upon
?h~s h4ortgage or the Mortgaged Properry or uF>on the ~ndebtedness securc>d heret~y Ali such payments to t;e ~~,ade v.hen
due and payat~le accor~~~rq to la:v hefore ;hey baconie del;nquent and before any ~nterest attaches or any penaitv ~s ~r~cuned
Inso`ar as an; ~ndebtedress ~s of record the san~e shatl be promptiy sat~sf~ed and ev~dence o! such sat~sEa~t~on shai! be r~~ven
?o Mortgagee
3 Insurance. ~1~ortgagor shall i;eep the Mortgaged Property and the ~mpro~.~emerns no.v ex~st~ny or hereaiter erec?ed
on the Mortgaged Propeity msured as rnay be reqwred irom t.rne to bme by Mortgayee aga~nst !oss by hre other hazariis
and contingenc.es ~n such amounts and ior s~~ch per~oUs as may be reqwred by Mortgagee tilortyago~ shall ~,ay promp,ly.
when due. any premiums on such ~nsurance Aii ~nsuiance shall be carried w~?h comparnes approved by blortgayee and the
pot~cy and renev,a~s thereof shall be held by Mortgagee and have attached thereto loss payable clauses ~n iavor and ~n form
acceptable to Mortgagee In the eveni ~f loss. Mortgagor sha~i give ~mmed:ate noUCe by ma~l to Mortgagee and Mortgagee
rr~ay make proot o! (oss +t not made promptly by ~Jlortgagor Each ~nsurance company concerned ~s hereby a~nhonzed and
d~rected ,o make payments for such loss d~rectly to Mortgagee instead ot e~,ther ,o Mortgayor or Mortgayor and Mortgagee
;o~ntly Insurance proceeds or any part ?hereo! may be apphed Ly PAortgagee at ~ts opUOn. after d2duct~ng therefrom ai1 its
expenses ~ncJud~r~g attomey's fees. e~ther to the reduct~on of the ~ndebtedness hereby sec~,red ar to the restorabon or repau
o! the property damayed Mortgagee ~s hereby author~zed. at rts opt+on, to ssttle and comprom~se any cla~ms, a.~ards. damages.
nc~hts ot acbon and proceeds, and any other payment or ret~ei under any :nsurance poi~cy in the event of toreclosure of th~s
tilortgage or other transfer of t~tle to the Mortgaged Propeity in extingu~shment of the ~ndebtedness secured hereby, a!I right.
t~tle. and mterest of Mortgagor ~r, and to any insurance poLcies then in torce shat! pass to the purchaser or grantee Mortgagee
rnay at ~ts option requ~re Mortgagor to depos~t v:rth Mortg3gee on the f~rst day ef each month. ~n add~tion to making payments
of pnnc~pal and ~r.~erest. unt+l the Agreement ~s fully pa~d. an amount equal to cne•tweifth (tl12) of the yearly prem~ums for
ali ~nsurance. Such depos~ts sha11 not be. nor be deemed to be. trust iunds, but may be comm~ngled w~tn the general t~nds
of Mortgagee. and no ~nterest shall he payab!e m respect thereof Upon demand by Mortgagee, Mortyagor shali del~ver to
Mortgagee such acid t~onai mon,es as are necessary ro make ~,p ary dei~c~enc~es m the amounts necessary !o enable Mortgagee
to pay sucP~ prem~ums ~vhen due In the even; o! de`ault under any ot Ihe terms, covenants and cor,d.t~ons m the Agreemen?.
?h~s P~lortgage or any o?her ~nstrument JE'CUfI(!g the Agree~r:enr to be performed or observed Ly Mortgagor Mortgage-e may
apply to the ~educt~on ot the sums secured hereby ,n such m3nner as Mortgagee sh311 determine. an f amount unde~ th~s
paragraph rema~n~ng t~ (VMortgagor's cred~t and any re!urn prem~um rece~ved from canceliat~o~ of any ~nsurance pol~cy by
~:lortgagee upon Ioreciosure cf th~s Mortgage
4. Condemnation. If the Mortgaged Property or any part tnereo! shai~ b° damage~ cr taken through condemnat~on
(.vh ch !erm ~.vhen used here~n shat~ ~rciud~ any damage er taking by any govemrrentai authonty or any other authonty authonzeo
by the !aws of the Sta?e of Flonda or the Un;ted S?ates of Amerca to so damage or take. and ar~y transfer by private sale ~n
i~eu tt~ereof). e~ther temporaniy or permanently. the ent~re mdebtedness and other sums secured hereby shall, at the opUOn
of P~lortgagee. become ;rr!med;ately due and payab!e MoRgagee shaif be enU?led to a!I compensat~on awards; darnages. cia,ms.
rghts of acbon and proceeds of, or on account of any damage or taking through condemnaUOn and ~s hereby authonzed.
at ~ts op'.~on. to commence. appear ~n and prosecute. m~ts o.vn or Mortgagor's na;re. any ac?~on or proceed~rg relabng to
any condemnation. 8nd to Settie or comDromise any da~m ~n connec?~on therew!th Ali such compensat~on awards. damages.
da ms nqhts of act~on and proceeds. and any ether payments o~ rei~ef. and the nght thereto. are hereby assgned by Mortgagor
to Mortgagee and Mortgagee afte: deduct~ng tt~erefrom all ~ts expenses ~nciuding attorney's fees may release any mon~es
~I so rece~ved tr~r ~t vr~thcut aflect~ng the i~en o! :h~s Mo!tgage o~ may ap~ty tne same ~n such manner as Mortgagee shalt determ;ne.
~ to the reduct~on of the sums secured hereby and tn any prepayment charge prov~ded ~n !he Agreemen!. th~s Mortgage or
( any o',her ~ns~rumen; secur~ng the Agreeme~~' .Any ba!ance o! such monies If!en rema!n~ng shai! k;e pa:d to P/~ortgagor Mortgagor
I ag~ees to execute such further ass!gnrnen , or any compensahons a~vards. damages. cia~ms. nghis of acbon and proceeds
~ as tvlortgagee may requ~re.
5 Care of Mortgaged Property. P~tortgayor sha!I no? remove or demo'~sh any bu~!d~ng or other proper?y form;ng a Fart
o! ihe Mortgaged Property w~thout the wntier consent of P,~ortyagee Mortgagor shall not ~ermit. commrt, or sufi!er any v.aste.
~mpa~rmen! or dster~orat~on o( the Mortgaged Property or any part thereof, and shaii keep the same and improvemen?s thereon
~n good cond~tion and repa~+ Mortgagor shall not;fy Mortyagee in vrrrt~ng ov~th~n f~ve (5) days of any damage or impa:rmen;
o! tne hlortgaged Property Mortgayee may. at Mortgagee's d~scret~on, have tne Mortgaged Property inspected at any t!me
anC Mortgagor shal~ pay a!! cos?s mcurred by Mortgagee in exec~~bng such ~nspechon
6 Mortgagee's Right to Make Certain Payments. In the event Mor,gagor ta~is to pay cr d~schar,e the tares. assessments.
!ev~es. I~ab,ht~es. ob!~gations and encumbrances. or !a~is to keep the Mor!gageci Property msured or to de,~ver the pol~c~es.
prem~ums paid. or !a~ls to repa,r tne Mortgayed Property as here~n agreed. Mortyagee may at ~ts op'~on pay or d~scharge
rne taxes. assessments. lev~es. !~ab,iibes, and obl~gat~ons and encumbrances o~ any part thereof. to produce and pay for such
~nsurance or to make ar,d pay for such repa~rs Mortgagee sha~~ have r,o obhgat~on on ~ts part ±o de'erm~ne the va';d~ty or
~ecess~t~ o! any payment thereof and any s~3ch payment shal! not wa~ve or affect any opt~on. !~en equ~ry or r~ght of Mortgagee
urder or by :!r?ue et t~~s Mortgage The full amoun? of each and e~•~ery such paymenr sha!i be :mmed~ately due and payabie
~r,d shatt bear ~n!erest irom the date thereoi untd pa~d at the Detau~t Rate, as here~nafter def~ned. and ?ogether ~:rth such ~nterest
sha~l be secured by the t~en of th,s Mortgage Noth~ng here~n contamed shall b~ cons!rued as ~equ~rmg Mo;tgagee to advance
or expend mon,es to~ any of the purposes ment~oned ~n th;s pa{agraph. j
7 Payment of Expenses. Mortgagor shal! pay al! the costs. chafges and expense~ inC~uding r~asonabie a'tomey s i
'ees d~sbursements and cost of abstracts of btle. ~ncurred or pa,d at an, hme by Mortgagee due to ihe fa~lure on the part '
,f P.1or,gagor promptfy and fuliy to periorm. comp!y w~th and ab;de by each and every shpulabon, agreement. cond~?ior and '
colenan? of the Agr~~me~t and th~s Mortgage Such costs. charges and expenses shali be immed,ately due and payabie. ~
;,he?her or not there be notice. dema~d. atte~?ni to callect or suit pend~rg The fuil amount oi each and every such payment
sha!I bear ~nterest fr~m the da?e tne~eo! ur,:l pa:d a? the De'au~t Rate. as here~na`ter dEf~ne~ Ail sucn costs, charges and expenses ~
so ~ncurred or pa:d tegetr~er :~r!?h such ~nr.erest. ;t~a~i be secured by the i~en o! this Mortgage and any ether ~nstrument secur~ng ~
?he Agreement a
~ 8 After Acquired Property. Tr,e ;~~n o` 'ris MOrtg3~.~~ i~ ~lu?Om~?:C3'iy dttaCh. :v~thOUt fu~tf,.er ~C•, io ~~I 8t',~' %~Cqii~~Cd
Drp~F~ft~ Of `::h3?BVBf ki!1C1 IG~~I°C1 ;,'1 Q' Of~. 0' %~??a~ r!ed iQ O~ USnrj pr ;fl?P'ldnd f0 f?E' li5@C1 Ifi COf1neCL0'1 Wiih Cf ~he ODeIB?'.Oil ~
of ih~ P~iortgayecf ProE;~riy ~
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