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Home My WebLink About0972 , ~ ~ , • 2. Paym~nt ot 1Yx~s and Llsns. Mortgegor shaN pay sll the taxes, assess~nents, tevies, iiabiiities, obligations and ; encumbrances d g,rery ~~.ure now on the Morlgageci Property w that hereafter may be imposed, levied or assessed upon i this Mortgage or the Mortgaged Property or upon ths indebtedness secured hereby. All such payments to be made when ; due and payaWe aa:o~ding to law b~ore thsy become delinquent and befwe any inte~est attaches or any penaily is incurr~d. ` Insotar as any indebtedness is d rec~rd the same shall be ptompdy sati~ed and evidence d such satisiacdon sha~l be given to Moftgagee. , 3. Insuranc~. Mortgagor shall keep the Mortgaged Property and Ihe imptove~nents now existing or hereaftet erected on the Mortgaged Property insured as may be required irom Gme ta dme by Mortgagee against toss by fir~ other hezards t and contingencies in such amounts and for such pariods as may be required by Mortgagea Mortgagor shaA pay prompdy, i when due~ arty premiums on such ir~suranca Ai! insurar~ce shall be carriad with companies approved by Mortgagee and the poiic,y and renewals thereof shall be lield by Mortgagee and have alteched thereir~~loss payabls dauses in ta~ror and in torm ao~eptable to Mortgag~ In the ev~ent d los~ Mortgagor shall give immediate notice by mail to Mortgagee a'hd Mortgagee may make prod d toss ff not made promptly by Mortgagcx Each insurance company concerned is hereby author+zed and directed to make payments for such tass directly to Mortgagee instead d either to Matgagor a Mortgagor and Mortgagee ~ jointly. Insurance proceods a arry part thered may be applied by Mortgagee at its option. after deducting tt~eretrom all its ~ expenses including attorney's fees, either to the ~eduction d the indebtedness hereby secured w ro the restoration or repair d the pra~ty damaged. M«tgagee is neret~yy authorized. at its option. ro s~tle and compromise any daims, awards, damages, rights ot action and proceeds, and any othsr payment or reliet under any insurarx:e policy. tn the ev~ent of foredosure of this Mortgage w other transier of tiUe to the Mortgaged Property in extingu+shment d ths i~?debteiiness secured hereby, all right, titl~ and interest d Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantea Mortgagee may at its option require Mortgagor to deposit with Mortgagee on the first day d each month, in addition to making payments d prinCipal and interest, unal the Agreernent is fully paid, an amount equa! to one-twelfth (1112) of the yearly premiums tor all insurance. Such deposits shaN noi b~ nor be deemed to be, trust funds, but may be commingled with the general funds of Mortgagee, and no interest shali be payaWe in respect thereof. Upon demand by Mortgage~ Mo?tgagar shal! detiver to Mortgagee such addUonal mor~ies as are r~ecessary to mak~e up any deC~cienae,s in the arr?ounts nece~ary to enable Mortgagee to pay such premiums when du~ In the event of default under any d the terms, covenants and condiUons in the Agreement, this Mortgage or any other instrument securing the Agreement to be performed or obsen~ed by Mo~tgagor, Matgagee may apply to the reduc6on d the sums secured hereby, in such manner as Mortgagee shall determine, any amount under this paragraph remaining to Mortgagor's credit arxi any retum premium received from car~ceNation of any insurance policy by Mortgagee upon foredosure oi this Mortgag~ 4. Condemnation. If the Mottgaged PropertY a~Y P~ thereof shall be damaged or taken ihrough a~ndemnation (which term vvher~ used herein shaM irx~ude ary damage or taldn9 by acn? goMerrxr~ntal authoritY or anY otlier authority authorized by the laws of the State of Florida or the United States d America to so damage or tak~ and any transfer by private sale in lieu thereat), either t~rnporarily or permanenUy, the entire indebtedness and other sums secured hereby shall, at the option of Mortgage~, becar~e immediateiy due and payabl~ Mortgagee shall be entided to aq compensation awards. darr~ages, da+ms, rights of action and proCeeds d, or on account d any damage or taFdng through condemnation and is hereby authorized, at its option. to comme~ appear in and prosecute~ in its oa+rn or Mortgagor's nam~ any action or proceeding relating to any condemnation, and to settle or compromise any daim in connection therewith. All such compensation awards, damages, daims, rights d action and proceeds, and arry other ~ayments or reliei, and the right thetet0. are heieby assigned by Mort9agor to Mortgagee and Mortgagee after deduc6ng tt~eretrom all its expenses inctuding attorney's fee.s may release any monies so reCeiv~ed by it witho~rt atter,ting the lien d this Mortgage or may apply 4he same i~ such manner as Matgagee sh~l dete~min~ to the reduction d ihe sums secured he?eby and ta arry prepayment charge pravided in the Agreement, this Mortgage or any dher instrument securing the AgreemeM. Arry balanoe d such monies then re~nair~ng shaH be paid to Mortgagor. Mortgagor agrees to execute such furiher assigcxnents or any compensations, awards, damages, claims, rights of action and proceeds as Mortgagee may requira 5. Caro of Mort9agad Prnperty. Mortgagor sha11 not rernove or demdish any building or other property forming a part d the Mortgaged Property without the written conseM d Mcxtgagea Mortgagor shall not permit. commit, or sufter arry wast~, - impaimnent or deterioration d tloe Mortgaged Property or any part thered. and sha!! keep the sam.e and improvements thereon in good conciition and repair. Mortgagor sha{I nodfy Mortgagee in writing within tnre days of arry damage, or impaimnent 04 the Mortgaged Property. Mortgagee may, at Mortgagee's dscre6on, have the Mortgaged Property inspected at any time and Mortgagor shaN pay all costs incurred by Mortga~e in executing such inspection. - 6~ Moryeqss's Ri~ht to Maloe CerWn Payrnents. In tlie euent Mortgagor tai4.s to pay or discharge the ta~ae~~ a~nents. levies, Iiabil"~ies, obligations and encumb?ances, or (ails to keep the Mortgaged Property insured or to deliver the policies, premiums paid. or fails to repair the Mortgaged Property as herein agreed, Mort9agee may at its option pay or d+scharge the taxes, assessmenis. Ievies. liabiliGes, and obligaUons and encumbrances a any part thered, to produce and pay for such ~ insurance or b make and pay for such repairs. Mortgagee shaN hav~e no obliga6on on its part to determine the valid~ty or necessity ot ary payment thereof and any such payment shall not waiv~e or afiect any op6on, I'~en equity or right d Mortgagee under or by viRue d this Mortgage~ The full amount d each anci every such payment shalf be immediately due and payabte and shall bear interest from the date thereot ur~it paid at tl~e De(ault Rete~ as herein~ter define~d, and togetl~er w~th such irKerest, sha!! be secured by the lien d this Mortgag~ Nothing herein containsd st~all be construed as r~uiring Mortgagee to advance or expend monies ta au~y of the purpo~es mentioned in this paragraph. 7. Paymettt of Experisea. Mortgagor shaA pay all the cosls, charges and expenses, induding reasonable attorney's • fees, disbursements and cost d abstracts d 6tle; incurred or paid at any tirr~e by Mortgagee due to the failure ori the part d Mort9~ P~~PtiY and fully to perform. comply with_and abide by each and every stipulaGon. a9reemeM. condition and coaenartt d the Agreement and this Mortgaga Suclt costs, charges and expenses, sha~ be immediatety due and payaW~ whether or not there be ~oticet demand, attempt to cotlect or suit pending. The full amount d each and ewery such payment ~ st~p bear interest trom the date tFteteoi ur~il paid at ihe Oelauh R~~ as h~einaftef d~ned. AA s~x~t costs, Giarges and expe~es so incurred or paid together with such interesl, shall be secured by the lien d this Mortgage and any other ir~strument securing ~ the Agreement. 8~ AfGar Acqulrod Property. The lien d this Mortgage wiH automaticatly attach, without further P.ct, to all after acquired property of whate~rer kind located in or on, or attached ta or used or intended to be used in connectior? wiii~ or in the opera6on d the AAortgaged Property. N ptevioits ed~6on3 are obo0kye 110221 Rev Nov 86 (09N) BoaK 54~ PACE 965 . . _ - i:~ ~ : ~ - s~ - - - -