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Home My WebLink About0935 ~ due udder this Mostgage in the fint caleodar month lollowing theesp ending of said sum. Such sutns w expended to beu interest nt the rate ~ at whlch inte~est Is payable upon sald principal indebtedneu and We liep of this 1?loct~age shall e:tend to and secure the sums so e~ended ' together with interat ehereoa as hercinbefore provided, ~ 19. At mortgagee s optioa, toget-h_er with and in addition W tbe monthly paymeat of principai aad interest payable under tha terms of the note secured hereby, MoKgagor sdaUpa y to Mort~Qee each moneh uoUl uid aote it fully paid, oue-twelfth (1/.12) of a sum equal to the auctual p~emium due for fire, esteaded coveage, and othe~ huard iosurance Iacluding flood iaturance, covering the mortgaged property, plus tua ~nd auessmeats nert due on tbe mongaged prope~jr (all ~s estimated by bioKgsgee) leu au sums already paid thercfor. aad to be d3vided by tbe aumber of moat~ W alapae Drior W the dste wben such tanes and ~ssessmenb sh~ll become delinquent. Said sums shall bc hald by Mortgagee in tnut or creditcd to t6e principal of t6e loan. w pay sstd tnsurance~ tues~ and assessmeats aud s~a!! be applicd oa the payu?eat thaieoE w6en due. Any ~oeW 6eW ia trust by Mo:tga~ee when said loan is paid ia full shall be paid co Mortgagor. or 6is aui~s or peisorul repc+ereatatives. Ia tbe event oE a default or forecloauro, aid sum: held in Crust auy be applied on aay costs oE damages sustainec; in connation with the collectioa of tds note secured hereby wbetber by suit, Eorectosure, or othecwise. Mortgagee may from time to time at itsop tloa waive~ and after aay tuch walver, reiaitate aay or all provisioas hereof requLin~ such depoaits. by notice to Mortgagor in writing. While any ~uch w~iver is in effect, Mort~gor ~ull pay 4sa. wessmeab ancl iasuraace premiums u he~ein etsewbere providad. 20. Mort~ga~gor shall comp~y wttb the ~mvt~ions of aay lease, if this mo~tg~ge is on a leuehold. IE this mortgage is oa a condominium uoit, mongagor i6a11 par~orm ~11 of mo~tpQor i obUgattow uader tbe dectaradon of ooodominium or muter deed, tbe bylaws aod regulatioas o! tha caodaamiaium proJect and oooitltueat docu~menb. Mortgs~a fu~ther coveaants tLat 6e ~ad the auoctation re:pomtble for the operation of the oondominlum wW obsarn all oE the pcovisiow of the ~id declaration and sny unersdmeats thereto. and of ehe Coadomic~ium' law of the state. and will pedorm alt obligations therouader; and a fallute W du so wb3ch is not cwed withtn 30 days aEter notice given by the Mort- gagee to the martgagor and tbe said astodation sh~ll constltute a default undec this mortgage. Mortgagor Eurther specifically covenants, but not by way of UmitaHon, that he and the associaHon will observe all of the provisions of said declaratton of condominium relating to insurance coverage. _ . 21. Moctgagor further rnveaants and agrees that at the roquest of Moctgagee to furnI3b a'st3adard termite bond insuring agaiast damage by infestntion on the buildings now or hereafter locatcd on the mgRga¢ed property, tn such amouats and temu, and .vith such company ~s approved and required by Moitgagee; and in the e.went Mortgagor does not comply with this rnveaant Mortgagee shall have the same rights to obtain same as iosurance coverage under covenant ~3 hereof. 22. That in the event that tbis mortg~ge is given to secure a conttcuction lwn, failure o~ the part of the Mo~tgagor or the ~fortgagor's contractor, architect, enaineen. or sub-eontracton to comply with the term~ of the ConttrucHon Loan Agreement of e~•en date hercwith, which is by refennee incorponted hercin, shall, at the optioa of the MoKgagce, constitute a default hereunder. 23. lf tht mortgaged premises is othsr than a oae to four Eamlly dwelling, the Mortgagor coveaants and agrees that Ae will, not later than thirty (30) days aker the end of the fiscal ytar, fumish unt the Association ~ complete aad pccurate balxnce sheet a~d proEit and loss statement nf~ecting tha Mortgagors ltnbilitles at well as profit and lou for the fiscal year, and such balance sheet aod profit and loss state- ment shall be prepared by a eertified public accountant lictnsed in the State of Florida, and s6all be cectified as being correct by such certi- ficKl publIc accountant. 24. If any of the sums of money 6erein referred to be aot promptly and fully paid within thirty (30) days neat after the same se~•erally become due and payable or if each and every the stipulations, agreenients, conditioat and covenwts of said promissory note aad this mort- gage, or either, are aot ~uly performed, comptied with and abided hy, the a~ggregate sum mentioned in saId promissory note shall become due and p~yable forthwith or thercafter at the option of the Mortgagee, as fully and completely as if said agAregate sum of money was origi- nally stipulated to be paid on such day, everything in said ptomiuory note or herein to the contrary notwithstandina. 2a. In the eveot~ that t6e Mortgagor makes payment by ehxk or checks that the ~tortgagor has failed to properl}~ endorse, the \lortqagor does hereby appoint khe Mortgagee u its attorney-in-fact to supply on behalE of the biortgaAor any and aU endorsements necessary to neqotiate said cherk or checks and the Mortgagor agrea to hold the \tortgagee hartnless from any liabilicv whatsoever for suppiying said endorsement. In tha event the Mortgagor shall cash a check for the Mo:tFagor and same s~aIl be retw~ned for insufficient funds or any other reasoa so that the Mortgagee is unabk to collect its money, then the Mortgagor hereby suthorizes the ~tortstagee to add said sum to the prineipal balance of this unortgage and said sum shail be securod by said promissory note and mortgage as though it was an addiNonal ad~•ance under the temu and eondttlons of thi~ mortgage. 28. Sperial provisiom: ~ tN WlTNESS WHEREOF, tbe uki Modgagor h~s esecuLed tl~is mortgage under seal on t6e day and/ycar herein Srst above written. Si~n , and de1[vered in the prdeaee of: ~ ~ ---~~1 ; - - ----2--------~-------- - ~ ~ MICNAEL DEAN LANE ~....e~R~~° ~~/j'[/~~ : ~ ( ) _ - - SEAL TERESA ANNE LANE I I ! State of FLORIDA ~ ~Ah' ~ ST. LUCIE ~ 'I'he foregoing instrument was aclmowledgad beEore me tLts 18th •March . 19 88, bY MICHAEL DEAN LANE AND TERESA ANNE LANE, his w f I ~fy Commtsiion a~pfres~ ~ ~ ~ ~ . ~b _ ~ S Florida at Large ~ ( ~otary Sea1) ~~01"7~ seace of Coanty of % The foregoing instrument was ackq~fvledsed bedom me t~s day oE MAR 2i P 3:46 . 19 . l,` - u,d a[ by • 1~ F~; on behalf of tbe corport~3oo' . , ~ l) _ ~ r~ My Commission ~ptro~s - " S i . ~ ± ~ , ; . ! . . , - ~ , ~ ~ ~ ~ f^ : . 8oox 579 P~G~ 933 . . . . 7, . , . ~ Notary Public ~ (Notary Seal) ' . , - _ - ~