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Home My WebLink About0952 : ~ . . . ~ : . x,~~,}il ~ . ~ 2. Paym~nt ot T~ucsa a~d ~l~a. Mortgasor shat~ pay aN che taxes, as~saments, levie~ Gabi~i6as, obligation~ and : encumbrances d evsry nature naw on the Mortgaged Propery or ihat hereafter may be imposed, leviad or assessed upon this Mortgage or the Maigaged Property or upon tl~e indebtedness secured hereby. Atl such payments to be made when - due and payable according to 1$w belore they become delinquent and belore any intere~ attaches ot any penalty is incur~ed. Insda~ as any indebtedness is d ~ecord the sarr~e st?aq be prompHy saUsfied and evidence d such sadsfaction shall be giv~en to Mortgagea 3. insuranc~. Mortgagor shatl kaep the Mortgaged Property and the improvements now existing or hereafter erected on the Mortgaged Property insared as may be required tram time to tirne by Mo?tgagee against loss by fir~ other hazards ~nd contingenciss in such amounts and for such periods as may be requi~ed by Mortgage~ Mortgagor shail pay promptly, when du~ any ptemiums on such insurance~ Afl insu~ar~ce shall be carried with companies approved by Mortgagee and the policy and renewats thereot sha11 be held by Mortgagee and have attacheti thereto loss payat~le dauses in favor and in torm ~ ~acceptable to Mortgage~ In the event d loss, Mortgagor shal! giwe immediate ~otice by ma+1 to Mtxigagee and Mortgagee may make proof d loss il not made promptlyy by Martgagoc Each insurance company concerned is hereby authorized and directed to make payments for such loss ctirectly to Mortgagee instead d~ to Mortgagor or Mortgagor and Mortgagee joinqy. Insurance prxeeds or arry part thereot may be applied by Mortgagee at its option. ~ter declucting thereFrom all its expe~se's including attorney's fees, either to the reducGon d the indebtedness hereby Secured ot to the restoration or ~epair a me property damagea. Mortgagee is r,ereay autho?iaed. ac its op6ion, ro.seme and oomprornise any a~rns, a,nrards, damages, ri9hts of acdon and proceeds, aRd any other payment or reliet under any ir~rarx;e policy. In the ev~ent d foredosure d this Mortgage or other transler of tiUs to ihe Mortgagecl Property i~ extingu'ishment d the indebtedness sec;ured hereby, all right, tiU~ and interest d Mortgago? in and to arry ir~surance policies then in (orce shall pass to the purchaser or grantee. Mortgagee may at its option require Mortgagot to deposit witti Mortgagee on the fir5t day ot each mQnth, in addition to making payrnents ~ d principal and interest, unGl the Agreement is futly paid, an amwnt equat to one-tw~eifth (1/12) of the yearty prem+ums ior all insurance. Such depasits shall ?tot bet nor be deemed to b~ tryst tunds, but may be commingled wiih the general funds . d Mortgage~ and no interest ~?all be payable in respect thered. Upon demand by Mortga~ Mortgagor shall cleliver to iNortgagee such adc~tional monies as are nece~ary to make up any def'~cienaes in the arnounts nec~ssary to enable Mort9agee to pay such premiums when due. ln the event ot delauft under any d the ierms, covenants and c~nditions in the Agreement. this Matgage or arry other ir~stnjment securing the Agreement to be performed or observ~ed by Mortgagor, Mortgagee may _ appiy to the reduction d the sums secured hereby, in such manner as Morigag~e shaN deteimin~ any amount under this paragraph remaining to Matgagor's credit and any retum premium receiv~ed trom cancellation d any insurance policy by Mortgagee upon toreclosure d this Mottgage. 4. Condemnatlon. If the Mortgaged Property or any part thered shall be damaged or ~aken through condemnation (which term when used herein shaR indude arry damage or takin9 b'f~ ~N 9~ef~ ~ a~Y ~~~Y authoriaed by the laws of the Stato of Florida or the Uruted ~States d America to so damage or tak~e4 and any transfer by private sate in . Iieu thereof), either temporarily or permanenby, the entire indebtedness and other sums secured hereby shall, at the option d MoRgage~ became immedatety due arxJ payabl~ Morigagee shaN be ~r~led to aN canpensation awards, darnages, da~ms. rights d action and proceeds d, w on account d any damage or taking through condemnation and is hereby authorized, _ at its op~on, to comrnence, appear in and prosecut~ in its a+vn or Mortgagor's nam~ arry ac6on or proceeding relating to any condemnation, and to settle or canpromise any daim in connection therewith. All such compensaGon awards, damages. claims, rights d action and proceeds, and ary other payments or relid, and the right thereto: are hereby assigned by Mortgagor to Mortgagee and Mortgagee after deducting therelrom aN +ts e~cperxses inGuding attaney's tees may release any monies so received by it without ~feC6ng the tien d this Mortgage or maY aPP~Y the same in such manner as Mortgagee slta~N determ?n~ to the reduation ~ the sums secured hereby and to any prepa~m~ent chauge prarided in the Agreement, this Mqrtgage or , ary dher instrument securing the Agreerr?ent. Any balance d such monies then re~n~rrng sh~l be paid to Mortgagor. Mortgagor agrees to execute such further assignments or any compensations, awards, damages, daims, rights d actian and proceeds as Mortgagee may require. 5. Cam of Mortsa~td Pnop~rty. Mortgagor shali not remov~e or demdist? any buitd+ng or dher prcperty form,ng a part d the Mortgaged Property without the written consent d Mortgage~ Matgagor shall nd permit, commit, or suffer any waste, . impairment or deteriaation d the Mortgaged Property or any part thereof, and shall keep the same and improtirements thereon in good condition and repair. Mortgagor shall notify Mcxtgagee in writing with9n five (5~ days d any damage, or impairment d the Mortgaged Property. Mortgagee may, at Mortgagee's discretion, have the Mortgaged PropeRy inspecfed at arry 6me and Mortgagor shall pay all costs ir~curred by Mortgagee in executing such inspection. 6 Mo+ywgse's ~M 1~ Maba~ CertYn t~symst~ts. !n U?e euu~eM Mortgagor fails b pay or dsd~arge the taxes. a~e~„ levies, liabilities, obtiga6ons and encumbrances, ar faits to keep the Mortgaged Property insured or to deliver the pdicies, premiums paid, or iails to repair ths Mortgaged Property as herein agreed, Mortgagee may at its option pay or discharge the taxes, assessrnents, levie;s„ liabilities, and obligations and encumbrances or any part thereof, to produce and pay (a such - insurance or to make and pay for such repairs. Mortgagee shatl have no obligation on its part to detertnine the validiry or necessity d any payment thereof and any such payment shall not waive or aftect any option, lien equity or right of Mortgagee under or by virtue ~f this Mortgage. The fuU amount of each and ewery such payment shall be immediately due and payable and shaN bear interest from ths date ttiereat ur~il paid at the pefault Rate~ as hereinafte~ defined, and.together with such interest. shal be secured by the lien d th~s Mortgag~ Nothing herein cordained shall be construed as requiring Mcxtgagee to advance or expend monies for any d the purposes merNioned in this paragraph. 7. P~ymeM ot Expenses. MoRgagcx shall pay a!I the costs, charges and expenses, including reasonabie attorney's tees, disbursements and cost d abstracts d dde, incurred or paid at any time by Martgagee due to the tailure on the part d Matgagor promptly and fully to periom?, comply with and abide by each and e~rery stiputation, agreement, condiGon and covenant of the Agreerrtent and this MoRgage. Such casis, charges and expenses, shall be immediately due and payable, whether w not there be n~otic~ demand, attempl to colleci a suit pending. The full amount oF each and every such payment sha~A bear interest from the date thereot urml paid at the Delautt Rat~ as hereina~ter defined. AN such costs. charges and expenses so inCUrred ot paid together with such interest, shall be secured by the lien ot this Mo~tgage and any other insUument securing the AAreemerlt. a Afler llequlrod Property. The lien of this Mortgage will au!omatically att~h, without further act, to a!I after acquired property d whatever kind located in or on, or attached ta, or used or intended to be used in conr~ecGon with or in the opera6on ot the Mortgaged Property. . i' ~ AY Pre+nous edbor~s are o0edete tt422s ~ t~ov 86 (09p? goaK 5W PdGE 951 . . . , . , . .,y . . ~ ~ - - _ _ -