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Home My WebLink About1535 Mortgaga covanants and ag~ees wtth Mortgagee as fdiwvs: . t Compllu?c~ rrith NoM and M~t~a~; Warranty of Titls. Mortgagor st~atl comply w~th all prov~s~ons o1 the Note. th~s Mortgage and d every other ~nstrucnent secur~ng the Note, and w~fl promptly pay to Mortgagee the pr~nc~pal w~th mterest thereon and all other sums required to be pa~d by Mortgagor under the Note and pursuant to the prov~s~ons of th~s Mortgage and of every other instrument secunng (he Note. Mortgagor covenants that Mortgagor owns and ~s ~ndefess~bly se~zed of tne Mortgaged Property in fee s~mple,•that~the Mortgaged Property ~s iree from all encumbrances except as noted ~n the ~egal descnpbon abau~e~ thatM4rtgagon c~'~ lawfu~ author~ty to conNe~r, mortgage and e~cumber the sarne as prowded by the Mortgage, that Mortgagee may peaceably and qwetly en~oy the Mortgaged Property, and that Mortgagor w~ll defend the Mortgaged Property against the claims of all- persons whomsoever, and that Mortgagor so warrants. 2. Payment of Taxes and Llens. Mortgagor shall pay all the taxes, assessments, levies, I~ab~l~t~es, obl~gat~ons and encumbrances ol every nature now on the Mortgaged Property or that hereatter may be ~mposed, tev~ed or assessed upon th~s Mortgage or the Mortgaged Property or upon the indebtedness secured hereby. All such payments to be made when due and payable accordmg to law betore they become del~nquent and before any interest attaches or any penalty ~s incurred. Insofar as any ~ndebtedness ~s of reCOrd the same shall be promptly sat~sf~ed and evidence d such sat~sfact~on shall be given to Mortgagee 3. inwrance. Mortgagor shall keep the Mortgaged Property and the improvements now ex~st~ng or hereafter erected on the Mortgaged Property ~nsured as may be requ~red trom t~me to time by MoRgagee aga~nst loss by fire, other hazards and contingencies (+ncluding iloo~ hazards and related occurrences m the event any portion d the Mortgaged Property ~s located m a ftood hazard area as may be identi(ied trom t~me to t~me) in such amounts and (or such periods as may be requ+red by Mortgagee. Mortgagor shall pay promptly, when due, any premiums on such ~nsurance. All insurance shall be carried ~nnth companies ap~xoved by Mortgagee and the pol~cy and renewals thered shall be held by Mortgagee and have attached thereto loss payable c~auses ~n tavor and in form acceptable to Mortgagee. In the event of loss. Mortgagor shall give immed~ate not~ce by ma~l to Mortgagee and Mortgagee may make proof of loss it not made promptly by Mo!tgagor. Each msurance company concerned ~s hereby authonzed and d~rected to make payments fa such loss d:recth~ to MoRgagee instead d e~ther to Mortgagor or Mortgagor and Mortgagee jantly. Insurance proceeds or any part thereot may be appl~ed by Mortgagee at its option, after deducting therefrom al1 its expenses including attorney's fees, either to the reduction oi the ~ndebtedness hereby secured or ro the restoration or repair of the property damaged. Mortgagee ~s hereby authonzed, at ~ts option, to settle and compromise any cla~ms, awards, damages. rights of act~on and proceeds, and any other payment or rel~ef under any ~nsurance policy. In the ev~eni d foreclosure d this Mortgage or other transfer d title to the Mortgaged Property m ext~ngwshment d the indebtedness secured hereby, ali nght, title, and ~nterest d Mortgagor in and to any insurance pol~C~es then in force shall pass to the purchaser or grantee Mortgagee may at ~ts opiion require Mortgagor to deposit with Mnric,}ac~ee on the f~rst day d each month, ir~ addit`on to mak~ng payments of pnnc~pal and interest, unt~l the Note is fully paid, an amount equal to one-twelfth (1/12) of the yearly prem~ums for alI ~nsurance. Such depos~ts shall not be, nor be deemed to be, trust funds, but may be commingled with the general funds ot AAortgagee, and no mterest shall be payable in respect thereof. Upon demand by Mortgagee, Mortgagor shall de6ver to Mortgagee such add~t~onal mornes as are necessary to make up any defic~enc~es ~n the amounts necessary to enable Mortgagee to pay such prem~ums when due. In the event d default under any d the terms, covenants and cond~t~ons ~n the Note, this Mortgage or any other ~nsirument secunng the Note to be performed or observed by Mortgagor, Mortgagee may apply to the reduction o{ the sums secured hereby, m such manner as Mortgagee shall determ~ne, any arnount under th~s paragraph rema~nmg to Mortgagor's cred~t and any return prem~um received from cancellation o( any ~nsurance policy by Mortgagee upon toreclosure of this Mortgage. 4. Condemnation. If the Mortgaged Property or any part thereof shall be damaged or taken through condemnat~on (wh~ch term when used here,n shail mclude any damage or tak~ng by any govemmental author~ty or any oiher authonty author~zed by the laws ot the State of Flor~da or the United States of Amer~ca to so damage or take, and any transfer by private sale ~n heu thereof), either temporanly or permanently, the ~nUre indebtedness and other sums secured hereby shall, at the opi~on of Mortgagee, become ~mmed~ately due and payable Mortgagee shall be ent~tled to a11 compensation arnrards, damages, da~ms. nghts of act~on and proceeds of. or on account of any damage or taking through condemnat~on and ~s hereby authonzed, at ~ts opUOn. to commence, appear m and prosecute, in its own or Mortgagor's name, any acUOn or proceeding relating to any condemnat~on, and to settle or comprom~se arry cla~m ~n connect~on therew~th. All such compensation awards, damages, ' cla~ms. nghts ot acUon and proceeds, anci any other payments or rel~ef, and the r~ght thereto, are hereby ass~gned by Mortgagor ~ to Mortgagee and Mortgagee after deductmg thereirom all ~ts expenses includ~ng attorney's fees may release any monies ! so rece~ved by ~t w~thoui aifect~ng the I~en of this Mortgage or may apply the same ~n such manner as Mortgagee sha?I determ~ne, ' to the reduct~on of the sums secured hereby and to any prepayment charge prov~ded in the Note, this Mortgage or any other ~nstrument secunng the Ncte Any balance of such mornes then rema~n~ng shall be pa~d to Mortgagor. Mortgagor agrees to i execute such further ass~gnments or any compensat~ons, awrards, damages, cta~ms, nghts d~t~on and proceeds as Mortgagee ~ may requ~re. ~ 5. Care of Mortgaged Property. Mortgagar shall not remove or demot~sh any bu~ld~ng or other property form~ng a part of the Mortgaged Property w~thout the wntten consent of Mortgagee. Mortgagor shall not perm~t, commit, or sufier any waste. ~ ~mpa~rment or detenoraUon d the Mortgaged Property or ary part thereof, and shall keep the same and improvements thereon in good conddion and repa~c Mortgagor shall notrfy Mortgagee m wnbng rnnthm five (5) days of any mjury, damag~ or ~mpa~rment ~ of or occurnng on the Mortgaged Property. Mortgagee may, at Mortgagee s discreUon, have the Mortgaged Property mspected ~ at any t~me and Mortgagor shall pay all costs ~ncurred by Mo~tgagee m execut~ng such mspection. ~ 6 Mortgagee's Right to Make Certafn Payments. In the event Mortgagor iails to pay or d~scharge the taxes, assessrnents, lev~es. hab~I~t~es, obl~gat~ons and encumbrances, or fa~ls to keep the Mortgaged Property insured or to del~ver the pol~cies. prem~ums pa~d, or la~ls to repair the Mortgaged Property as herein agreed, Mortgagee may at its opt~on pay or d~scharge ~ the taxes. assessmerts, lev~es. I~ab~6ties, and~obl~gations and encumbrances or any part thereot, to produce and pay for such ~ ~nsurance or to make and pay for such repairs. Mortgagee shall have no obl~gaUon on its part to determ~ne the valid~ty or € necessR of a a ment thereof and an such a ment shall not waive or aftect an o Uon, hen E Y ~Y P Y Y P y y p equity or right of Mortgagee under or by v~rtue of th~s Mortgage. The full amount of each and every such payment shall be ~mmed~ately due and payable and shall bear ~nterest from the date thereof until pa~d at the Default Rate, as here~nafter defined, and together v~nth such ~nteres;. shail be secured by the t~en of this Mortgage. Nothing here~n conta~ned shali be construed as requiring Mortgagee to advance o! expend mornes for any ot the purposes mentioned ~n th~s paragraph. 7. Payment of Expenses. Mortgagor shall pay a~f the cosis, charges and expenses. ~nclud+ng reasonable attorney's fees whether ~ncurred at tnal or appellate leve~. d~sbursements and cost of abstracts o( title, ~ncurred or pa~d at any t~me by MortgageP due to the fa+lure o~ the part of Mortgagor promptiy and tully to perform, comply with and ab~de by each and ~ every st~pulaUOn, agreement, condmon and covenant of the Note and this MoRgage Such costs. charges and expenses, shal? k t~e ~mmed~ately due and payable, whether or not there be noUce, demand. attempt to cdlect or swt pend~ng. The full amount ~ of each and every such payment shall bear mterest (rom the date thereof unUl pa~d at the Defa~lt Rate, as heremafter def+ned. ~ All such costs, charges and expenses so ~ncurred or pa~d together wnth such ~r,terest, shali be secured by the I~en d th~s Mortgage and any other ~nstrument secunng ihe Note. ~ 8 ARer Acquirad Property. The I~en of th~s Mortgage w~li automabcally aMach, w~thout further act, fo all after acqu~red ~ property of whatever k~nd located ~n or on, or attached to, cr used or ~ntended to be used ~n connecUOn w~th or ~n the operat~on ; of the Mortgaged Property b . r . ~ • ~ - ~ ` BooK 674 P~~r,E 1535 ~ . l. . _ . . : . , _ ,x~ _ _ .~r~~.~-5.-0'~.' ~y`-`~-s. '*s'~ ~i.'~~~.~~vaa° 3Y~~~ i~~~_:c:~.as"5£.~T.%~~."~~.~7~