The URL can be used to link to this page

Home My WebLink About0330 . ~ ~ t ' Mortgagor covenants and agrees w~th Mortgagee as idlows. t Complianc~ wtth Not~ ~nd Mortqaq~; Warranty of TitN. Mortgagor shall comply w~tn all prov~s~ons of the Note. th~s Mortgage and d every other ~nstrumern secunng the Note, and v+nil promptly pay to Mortgagee the pnnc~pal w~th ~nterest thereon and au other sums requ~red to be pa~d by Mortgaga under the Note and pursuant to the prov~s~ons of th~s Mortgage and d every othe~ mstrument secunng the Note. Mortgagor covenants that Mortgagor owns and ~s ~ndeteas~bly se~zed ot the MortgAggd Property ,n (ee s~mple, that the Mortgaged Property ~s tree irom all encumbrar~es except as noted m Ihe ?egal descnpt~on abov~e, that Mortgaga has Iawiul authoriry to cornrey, mortgage and encumber the same as prw~ded by the Mortgage, ;hat Mortgagee may peaceabiy and qwetly en~oy the Mortgaged Property, and that Mortgagor ~nnll defend the Mortgaged Property aga~nst the cta+ms of ~I. p~csons whomsoever, and that Mortgagor so warrants 2 Payment of Tixes and Llens. Mort~agar sha~i pay all the taxes. assessmenis, lev~es. I~abal~t~es, obl~gat~ons and encumbrances ot every nature now on the Mortgaged Property or ihat hereafter may be ~mposed, tewed or assessed upon th~s Mortgage or the Mortgaged Prope~ty or upon the ~ndebteciness secured hereby All such payments to be made when due and payable accord+ng to law before they t~ecome del~nquent and before any ~nterest attaches or any penalty is ~nCUrred. Insofar as any ~ndebtedness ~s d record the same shail be promptiy sat~sf~ed and ev~dence ot such sat~slaction shall be g~ven to Mortgagee. 3 Insurance. Mortgagor shall keep the Mortgaged Property and the ~mprrnrements now ex~st~ng or hereafter erected on the Mortgaged Property ~nsured as may be requ~red from t~me to t~me by Mortgagee aga~nst loss by f~re, other hazards and conbngenc~es (~nciudmg (lood hazards and re~ated occurrences m the event any pornon of the Mortgaged Property ~s located ~n a ilood hazard ar~a as may be ~denbf~ed trom Ume to Ume) m such amounts and for such penods as may be reqwred by Mortgagee. Mortgagor shall pay promptly, when due, any prem~ums on such ~nsuranCe. Ali ~nsuranCe shall be carr~ed w~th comparnes appro~red by Mortgagee and the pol~cy and renewals thereof shall be held by Mortgagee and have attached thereto loss payable clauses m fawr and ~n torm acceptable to Mortgagee In the event o( loss. Mortgagor shall g~ve ~mmed~ate not~ce by ma~l to Mortgagee and M~rtgagee may make proof d ioss ~f not made pranptly by Mortgagor. Each msurance company concerned ~s hereby authon2ed and d~rected to make payments for such loss d+recty to Mortgagee ~nstead d e+ther to Mortgagor or Mortgagor and Mortgagee p~ntly. Insurance proceeds or any part thereof may be appl~ed by Mortgagee at ~ts opt~on, after deductmg theretrom all ~ts expenses mclud~n~ attorney's fees. e~ther to the reduct~on ot the ~ndebtedness hereby secured or fo the resto~aUOn or repa~r of the pr~perty damaged Mortgagee ~s hereCy authonzed, at ds opt~on. to settle and comprom~se any cia+ms. awards. damages. nghts of act~on and proceeds, and ar?y other payment or ret~et under any msurance pol~cy. in ihe event ot toreciosure d th~s Mortgage or other transfer d t~Ue to the Mortgaged Property ~n ext~ngwshment d the ~ndebiedr~ess - secured hereby, ali nght, t~tle, and ~nterest ot Mortgagor m and to any ~nsurance pdre~es then m t~rce shall pass to the purchaser or grantee Mortgagee may at ~ts opt~on reqwre Mortgagor to depost w~th Mortgagee on the f~rst day d each month, m add+t~on to mak~ng payments of pnnc~pal and mterest, unbl the Note ~s (ully pa~d, an amouni equal to one-twetfth (1/12) d the yearly prem~ums tor ail msurance Such depos~ts shall not be. nor be deemed to be, trust tunds. but may be comm~ngled w~th the I genera! tunds ot Mortgagee. and no ~nterest shal! be payabie m respect thereof. Upon demand by Mortgagee. Mortgagor ff shaf! del~ver to Mortgagee such add~Uonal r~on~es as are necessary to make up arnr defiaenc~es m the amounts necessary i to enable hlort a ee to a such remwms when due In the eveni of de~auit unde? a d the terms. crn,~enants anri cond+U ns 9 9 P Y P ~y o i ~n ?he Note. th~s Mortgage or any other ~nstrument securmg the tVote to be performed or observed by Mortgagor. Mortgagee may apply to the reduct~on of the sums secured hereby. ~n such manner as Mortgagee shall determ~ne. any amount under tn~s paragraph rema~rnng to Mortgagor's credrt and any ret~m prem~um rece~ved fram canceliauon of any ~nsurance polFcy by Mortgagee upon !orec!osure of th~s Mortgage. ~ 4 Condemnation. i( the Mortgaged Property or any part thereof shall be damaged or taken through condemnat~on (wh~ch te~m wt~en used here~n shali ~nctude arry damage a ta?ang try any governmenta author~ry or any othef authonty authonzed by the law5 af the State o' Fior~da or the Urnted States of Amenca to so dan~age or take. and any transfer by pnvate sale ~n I~eu thereo~. e~iher tem~rar~~y o~ permanentiy. the ~nUre ~ndebtedness and other sums secured hereby shall, at the opt~on o! Mortgagee. become ~mmeci~ate~y due ana payable Mortgagee shali be ent~tied to all c~mpensat~on awards. damages, cla~ms. ~ ~ nghts o} act~on anci proceeds o!. or on account ~f any damage or takmg through condemnat~on and ~s he!eby authonzed. at ~ts opt~on. to commence. appear ~n and prosecute. m ~ts own or titortgagor s name. any act~on or proceed;ng relabng to a^y condemnat-on and to settie o! comprom~se any cia~m ~n connect~on therewrth. AI! such compensat~on awards, damages. ~ cia~ms r~gh,s o' acGCn and proceeds and any other payme~ts or rel~ef. and the r~ght thereto. are hereby ass~gned by Mortgagor ~ ~o Mortgagee and Mortgagee after aed~ct;~g theret~om all ~ts expenses ~nclud~ng attorney's fees may release any mornes ~ so r~e:ved t7y ~t w~thout affect~ng ihe !~en ot th,s MoRgage o~ may apply the same ~n such manner as Mortgagee shall deterrr;+~e. to the reduct~on of the sums secureri hereby and to any prepayment charge prov~ded +n the Note. th~s Mortgage or any other ; ;nstrumen' secunng ±he Note Any bata~ce ot such mon,es then rema~n~ng shali be pa~d to Mortgagor Mortgagor agrees to ~ ~ exec:,te such fu~her ass~g~~~ents or am,• compensat~ons awards. damag2s. cia~ms. nghts of act~on and proceeds as Mortgagee F r''ay requ'`e ~ 5 Care of Mortgaged Pr~operty. Mo^gagor shaU not remove or demoi~sh any bu~id~ng or other property forming a part o' t~e Mortyaged P!oper,y w~thout the wr;ten consent of Mortgagee Mortgagor shall not perm~t. commrt. or suffer any waste. ~ ~mparment or deter~aa!~on of the Mortgaged Property or any part thereof, and shail keep the same and ~mprovements thereon ~ ~n g~ cond~UOn and repa!r Mortgagor s~:a!~ not~fy Mortgagee m wr~t~ng Wdh~n f~v~e (5) days d any m1ury, damage, or ~mpa:rment o' o• occu~~ ng or the Mortga~ed Property Mongagee may. at Mortgagee's d~scret~on, have the Mortgaged Property ~nspected a~ a^y ~•me and Mortgagor shali pay ai! costs ~ncurred by Mortgagee ~n exerut~ng such ~nspect~on ~ 6 Mortgagee's RigM to IMake Certain Payments. !n the e,~ni Mortgagor fa~ls to pay or d~scharge the taxes. assessrnents ~ev~es. t~ab~~+bes. obhga~~ons and encumbrances. or fa~ls to keep the Mortgaged Property ~nsured or ro del,ver the pol~c~es. p~em!ums pa~d. or ta~ls ta repa;r the Mortgaged Property as here~n agreed, Mortgagee may at ~ts opt~on pay or d~scha~ge ~ ~ne taxes assessmen~s ~ev,es. i~ab!i~t~es and obl.gattons ard enc~mbrances or any part tnereof, to produce and pay lor such ~~su~ance or to mak~ and Day !or SuCh repa~rs Mortgagee shafl have no ob!~gat.on on ~ts part to determ~ne the val,d~ty o~ necess?y o` any payment tnereof and an1~ such payment shali not wa~ve o? aNect any opbor. I~en equ!t~~ er nght of Ulortyayee ~~~de~ o* oy v~r?ue o' 1!~~s Mu!tgage The fu~i amount of each and every such payment sha!i be ~mmed~a!e1y due and payable and shaii bear ~n?eresi trom the date thereot unbl pad at the Detau~t Rate. as t~ere~nafter defined. and together w~th such ;nterest. s~~ali be secured by the'~en of th~s Mongage Noth;ng here~n conta~ne~d st~alt be co~strued as requmng Mortgagee ro advance expend mornes for any o' tne purposes menhoned :n th~s paragraph 7 Payment of Expenaes. Mortgagor s'~ai; pay a~~ the costs. charqes and exc~enses. ~ndud+nq reasonab!e attomey's fees whethe~ ~ncurred at tna: or appeliate ievel d~sbursements and cost of abstracts of i~tie. mcurreci o~ paid at any Ume by tilortgagee d~e to the ta~iure on the part ot Mortgago~ promptiy ~nd ful!y to perform. compiy w~th and ab~de by each and - every s?Epu~abor~ ag~eement conc~~bon and covenan± o~ the No?e and th~s Mo~tgaye Such cosis. charges and expenses. shail € ~e ;mmed~dtely due ard payable whether or not the~e be ~otEce demand. attempt to ~oliect or su~t pend~ng The full amount ~ o` eacr and every sucn payment sha+! hear :nrerest trom the date thereof ~~nr~i ~a;d at the Defautt Rate. as here~nafter det~ned _ At~ such cc~sts cha~ges and expenses ~ ~nc,u~reci o{ pa~d together ur,th sucn ~nte~est sha~t be ~ecured by the i~en c~f ,h~s Mortgage q ane any othe~ ~~strument secur~ng fhe No!e i 8 ARer Aequired Property. The i~en of ?h~s tilot'gaGe w~i~ au±omat~ca~t`~ at?ach. N1;ehous !urther act. to ail a~te~ acqu~red pro[~e~t ~ o! whateve! k~nd icx;ate~~i ~ or ~n attac!~ed ?o o~ used o~ ~n!ended !o he ~sed in ConneCt,on w~th or ~n the ope~at~Un •:-,c. tij~~rt~~aCJ?C1 Prr,nt~ri~i g~~~~ P~IK ~ ~ . - x _ - _ ~ - ..u ~3~.:~• °`£'%~~'~~i°~~~~ a."~'~~~~~y~~-