HomeMy WebLinkAbout0084 u~.ur,~u~e, au.l :u,y otLrr cu~erage re~~uirrd by the murt~;asce, un :iwelLi~~, el~~;~Lle for such broadenecl coverage - prorided, Lowever, that
,uct~ ~nsuranre Le in an auwiint suffic•ient to eomply w~~th any co-insurai~ce re~~uirr~nents eorering s:ui~e under the laws uf t}ie ~tute of Florida,
:~n~l pro~idrd furth~~r that tl~r policy or policies shall be written in a eompany or compaiues and through an agency satisfactory to the ~lort-
Kagee aad that ~aid policy ur polic•irs shull be held by die \fortgagee, shall be in a form satisfactory to the '~lortgagee, and shall contain a
~tandard mortya~e cl~use in f:a~~or of ancl in a fonn acceptable to the \lortgagee; and in the e~~ent any sum of money becomes payable under
:iny ~uch poUcr• or poli~ies, thc \turtgagee shall ha~e tt~e option to recei~~e and apply the same on acc~unt of the indebtedness hrreby secured,
or to~ rmit the \lort~;a~or to recei~e aud use it, or any part thereof, for other purposes, without thereby wai~ing or impairiug any eyuity, lien,
ur right an~lrr and by ~~irtue of this ~nortga~;e; and in the e~•ent the 4lortgagor does ~ot comply w~th this co~•enant, the \1ort~;aKee may place
and pay for such in~iuancr, or any p.irt thereof, without ~~~aivin~; or affectin~; ihe option to foreelose, or any right hereunder, and tl?e full amount
of eact~ and ~•~~rrq ~u~l~ payment shsll be in~mctiiiately due and payable, and snall bear interest fro~n the date diereof until paid at the deEault
r.~te pro~i~leci in sai~i nu?e and togethrr w~it6 surh interest shall be secured hy d~e lien of this mortfiaRe. Insurance co~~ering the peril of flood
~lam~~;e shall {,e a. rr~~iiir~~~t by thr Fr~ieral Disaster Yrotection ~ct of 19i3, or as amended, and mortgagor covenants and abrers to cornply
i~~ all rrspect, with the procisions then~[.
4. ~fhat inurt~:i~~~e ma~~, at auy ti~ne during the mortgaRe term, and in iLs discretion, ap?ly for renew•al Uf mort~;age guaranty ins~uance
~ u~rriu~ thr n~rnt~.~~c t'XfCUIEYI L}' ~}ll' UIICIrr,i4n~~~1 on e~en date here:vith, pay the premium due by reason thereof, and require repayment
i,. the uucl~~ni~;u~•~i of such a~nounts as arr adcanc~•~l b>• said mort~;aAee. ln the event of failure by~ the undersixned to repay said amounts to
>:ii~i ~nort~a~cr, si:ch (ailure sluill t:e considevrc! a ile~tault, and all pro~ isions ot the note and inortgage w~th retiard to delanlt st~all be appli-
..iLlr.
;u~nt~:i~~r~to ~kerp~thet~buil~li~~:sEon siid~~p operiy ~in~good ~ct~ndition~oflrepairStha ~to gaR e may d mand the~i nn ediat~~ c~ i of~saicl bui de
~nr,, or an incrra~e in th~~ a~nuunt of security, or the inunecliate repayment af the debt hereby secured and the failnre of the \fartKagor to com-
F~l> «•ith said drmand of the \lort~:iger Eor u periocl oE thirt~~ ~30) days, shall wnstitute a breach of this mort&age, and, at the option of the
~luitc.~2r~, inunrcliatrly maturr~ the rntire amount of principal and interest hereby secured, and immediately and µ•ithout notice, the ~1ortAagee
n~.n• in.titut~• prcx~eediuts to forc~close thi~ nwrt~;as;e and apply for the appointment of a Receiver, as hereinafter pro~•idcYi.
ts. To p~•ifur~n, cou~ph~ ~a•:th and .ibi~le by e:uh aud every stipulation, agreement, eondition and co~en~nt in sc~id pro~nis~or. notr :inil ~leecl
„•t forth.
In the r~~•nt tlu~ jurisdiction of the l'. S. District Court shall be in~~okrd by or against the \tartgas~or under an~• of dir pro~isio~is of the
F~~~lrra! B:~nkruptc~• :1ct, such action, ~vhethe~r ~oluntary• or i?»~oluntary on the part of the'~lortgagor, shall automatically, a~ithout noticr, ae-
~~~I~•r.~tr ti~e maturit}~ of all sum, of inoner hert•in described and securt•d, and the same shall thereupon bernme due and payablc forthwith
lully :u if the .aid a~~re~;ate suins of money w~ere oriKinally stipulatc•cl to be paid on such date.
ti. 'Co drl~~cr to sa~ci \tort~;afiee, on or before rtarch 15th of each year, ta~; receipts evidencing the payment of all law~fully imposed tanes
f~,r t1~r prrcc~clin~ calen~l:~r yrar, and to deli~•er to said ~tortgagee, reeeipts evidencing the pa~nnent of all liens for public impro~~ements within
n~nt~ty ( JO) clays after the same shall become ciue and payable, and to pay or discharge within ninety (90) days after due date, any and all
~u~rrnm~•ntal le~ irs t6at ma}~ he made on die mort~Gaged property, on d~is mortgaFe or note, or in any other way resultinG from the ~lortRage
in<lehte~lnes. tircured bt• this mc~rt4a~e; and if this condition be not complied with and pedormed, said mortgagee may pay such sum or sums
,~lii~~h shall hecome part of the debt secured by this mort~;age, and shall bear interest at the default rate pro~•ided in said promisson• note
P.~~ ahlr mrnithl~• ~mtil paicl or said mertga~ee cnay elect that said mortga~e debt thereupon become due and payablP forthw~th.
41. It ic fiirtl~c•r cucc°n:iut~~~l ;in~l a~reecl b}' said partic~s that in the e~•ent of a suit being instituted to foreclose this martga~;e, the \tort};agee
.ts;ill l,~• ~~ntitlt•:t ti~ appl~~ at any ti~ne pe~din~ such foreclosure suit to ti~e court ha~•ing jurisdiction thereof for tt~e appointux~nt of a recei~•er
~~f :ill ancl .in~t~il.ir th~~ n;ort};a~rcl roperty, ai~d of all the rents, incomes, profits, issues and re~•enues thereof, from w}iatsce~•er source deri~•ed;
aucl t6en•~~pon it is hrrehv express~y covenantecl and agreed that the court shall forthwith appoint a recei~•er of said mortKaRc~tl properiy, all
un~l ,in~ular. and of such rents, iaco~nes, profits, issues and re~•enue thereof, from whatsoever souree derived, w~th the usual powers and
~luti~ s uf rec~i. e~rs in like casc~s; and sucl~ ap~x,intment shall be made by such court as a matter of strict ri~eht to the 1tort~;aKee, its successors,
1~•cal rc•prc~s~~ntati.~f•s or assi~,ms, and «•ithout reEerence to the adequacy or inadequacy of 4he value of the property hereby mortKaged, or to the
>ol~rncy ur insul~~~ncy of the \iortka~or, and diat such rent, p:ofits, income, issues and revenues shall be applied by such recei~•er to the pay-
~n~•nt of the inortqage indebtedness, costs and charges, accordin~ to the order of such court.
i0. lf all or any part of the property or a lefial or equitable interest thercin is sold or transfened by mortga~or without mortgagee's prior
~+rittrn consent, int~h~din~; hnt not limited to the ezccution of an agreement for deeci, but exeludinQ (a) the creation of a lien or encum-
I ~ranct° su~~orcjin:tte to thi~ mortcat~e, ( b) the creation oE a purchase money security interest for household appliances, ( c) a transfer hy
<l<•~ ice ~r deccc~nt, or hy operation of law upon the death of a joint tenant, or ( d) the Rrant of any leasehold i:~terest of three years or less not
~ ~~ntainin~ an optiun to purchacr•, inortFaQee may, at its option, declare all the sums secured by this mortRaKe to be immediately due and
payable. ,itort~;a~ee shall ha~~e wai~•ed such option to accelerate if, prior to the sale or transfer, mortgagee and the person to K~hom the property
is to be sold or transferred reach agreement in writin~; that the credit of such person is satisfactory to Atortgagee and that the interest payable
on the sums secured by this mort~age shall be at st~ch rate as Jiortgagee shall request. If Mortgagee has waived the option to accelerate pro-
'i ~~ded in this paragraph, and if \Sortgagoi s successor in interest has executed a written assumption agreement accepted in writinfi by ~iort-
4 ~agee, I~~ortgagee shall release ~tortgagor from all obliqations under this mortgage and the note secured hereby.
~ 11. That in thc e~~ent the premises hereby morteaged, or any part thereof, sha11 be condemned and taken for public use under the power
~ u: c•~ninent domain, the \tort~ay;ee shall have the riAht to demand that all damages aw•arded for the takin~ of or damages to said premi~es
~hall be paid to the \tortKaQee up to the amount then unpaid on this mortgage and at the option of the \1ortAa~ee may be applied upon
~ !h~ payments last payable thereon.
j 1?. The mortQacor binds himself not to erect or permit to be erected any new buildings on the premises herein mortRaRed or to add to
f ~~r penttit to h~ add~•d to any of the existinG improvements thereon or make any changes or alterations in said improvements which materially
F , h;~n~r the same or the use thcreof, w•id~out the wTitten consent of the ~1ortRaRee, and in the event of any ~iolation or attempt to violate this
j ~ttpulation this mortcaeP and all sums secured hereby shall immediately become due and collectible at the option of the Mortgagee.
13. It is specifically aRreecl that time is of the essence of this contract. The failure of the MorEgaRor in one or more instances to insist upfln
E ~trict performance• ur ub,en•ance of one or more of the co~•enants or conditions hereof, or to ezercise any remedy, pm~ileqe or option hercin
cunferred upon or rese:~ed to d~e lfortRagor, shall not operate or be construed as a relinquishment or waiver for the future of such covenant
~ or condition or of the riuht to enforce t}ie same or to ezercise such privile~;e, option, or remedy, but the same shall continue in full force and
! f ff~~ct. 7 he receipt by the ~torty;a~eee of a monthly payment or payments or of any other payrrtent required to be made by the '~tortRaqor, or
~ am~ part thereof, shall not be a waiver of any other additional payments or amounts then due, nor shall such receipt, thouFh with knowl-
~ ~-<l~e oE the breach of am• covenant or condi:ion hereof, operate as or be deemed to be a w•aiver of such breach. tio wai~•er by the '~tortgaRee
g ~f any of the pro~~sions hereof or any of the Mortgagee's rights, remedies, privileAes or options hereunder shall be deemed to ha~•e been
~ ;~ade• i~nless made by the Mortgagee in writing.
` 14. If #oreclosure proceedinRs oE any second mortgage or second tri~st deed or any junior lien of anv kind should be instituted, the ~tort-
; c~a~ee may, at its opHon, immediately or thereaher declare this mortga~;e and the indebtedness secured hereb}~ diie and payable forthwith, and
~~~:~y~ at its op!ion proceQCi to forectose this mort~age.
~ 1~. To t6e c~~tent of thr~ indebtedness of the ~fortgaKOr to the Jtortt;afiee described herein or secured hrreby the itortgaqee is hereby
R ~~~hroealyd t~ th~• li<~n or li~ns arzd to ihP ri~hts ~f the oµ~ners and holders thefeof of each and everv mort~a~c lEen or oth~r ir.cumhrance on the
~ land descrihc~d h~rci~ ~vhich is p;iid ancl/or satisfied in whole or in part out of the proceeds of t4ie loan drscri~xY~ }~rrt•in or secured hereby,
,~nd th~ rr.prcti~•e~ ]irn•. ~~f saiel mort~aceL, licns or other incumbtances shall be and the same and each of tht~m iu~rrhv is presen~~d and shall
~ j,ass to and l,e~ held b~~ the ~tortQaRee herein as security for the indebtr~dness to the :~1ortRa~ee herein described or hereby secured, to the same
~~~tent that it w•ould ha~~e been presen~ed and wouid have been passed to and been held by the A3ortQagee had it been duly and reRularly
.+ti~ienc~d, transferrFd, set o~~rr :~nd deli~•ered unto the Morteagee by separate deed of assi~nment notwithstandinfi the fact that the same may
}~f~ ~ati~fif~d and canc~lled of rFCOrd, it hein~ the intention oE the parti~s hereto that the same will be satisfic~d and cancelled of record by the
hol~lers thFreof at or about the time of ihe recording of this mortgage.
16. The \fortgagor w~ll pay or reimburse tt~e ~iortga~ee for aIl reasonable attorney's fees, costs ard eapenses paid or incurred by the A1ort-
t;a~ee in any~ action, proceeding or dispute of any kind, whether on app eal or not, in which the ;lfortgagee is served with legal process, is made
a party or appears as party plaintiff or defendant affectin[ the note, this mortgage, I~iortqagor or the mortgaged property, including but not
]imit~~d to the foreclosure or other enforcement of this mortgaKe, any eondemnaHon action invol~~nR the mortKaged property, any action to
profect the srcurity hPrcof, or anv proceeding in probate or hankruptcy; and any such amounts paid or incurred by the \tort~aRee shall be
addect to the indebtedness, shall hear interest at the default rate speciEied in the note from da!e of payment, and shall be secured by the lien
~f this mortgage.
~
` l~. ~~'hf~n ;~m~ anuiunt nf m~mrv to I~c paicl by ~he \tort~astor to the ~fortcaqee under the terms hereof shail Ue in default, or should the
~ ~1o~t~acor defanlt in any ~f tl~e t~ther tenm, pro~'isic~ns or conditions of this ?~tortgaQe, then and in that case the '.~tortgagee shall have the
~ ; riLht. ~-.•ith~~nt nc~tice to thr \tortuator, to collect and rece~~•e from any tenant or lesse~ of said mort~agecl premises the rents, issues and
~ ~~rc~`its of t't~~~ rr;il c•.t.it<• h~reh~~ morttaced anrl thc irnpm~•ements thereon, and to Aive proper receipts and ac~uittances therzfor, and after
~ x ~~:~~ine; all com;~~istinn~ o{ ;im~ r~•ntal a::f~nt c~ll~ctin~ th~ same, and any reasonable attome,v's fees and other necessary ezpenses incurred in
:~~II<•ctin ~ s;~;n~, tc~ ;i~ph• th~ , rocecdc of such collections upon any ind~bteclness, obligation or liability, oi the ~torty;agor hereunder. The
> richt firantr~cl thc~ ~tortzacer• iindrr this pirar,raph shall be in addition to. ar.cl shall not limit or restrict, any other riqht or rip,hts granted the
' \S~irtea~~~~• in t~iis ~1ort,:~CF.
iS. if th~~ \i~~.ttac~>r. at the tim~ of r;~akin~ 2his '.1lortgaAe subsequent thereto take out life insurance designating the'~fortgagee herein
i,~•n~~(ici;~n Hith a c~,tnp:~ny appro.~~~d hy the \fort,aLee or assigns policies t~ the MortgaQee for the pur~wsc of securing the mortQaQe loan
i~~ r~•h~~ «~c~~r~ ~l. th~•n tl~e \tort~a::c~ shall ha~~e thc rieht to pay any premium accruing under said policies, and all sums so expended shall be
~~l~lr~l t~~ ;~~i~l c~~~~~• a~iart of tl«~ principai inclPhteclness secured by this ~lforteaQe and shall be paid by the 1'Iortgagor to the Mortgagee
in tw~e~l~~ e~~ual rons~cut~~c monthlp installments, the first monthly installment to be paid as a part of and in additian to the month}y payment
`~a~~as~U~~~-~ '
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