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Home My WebLink About0085 due under this ~lortgage m the fint calendar month fcllowing the e:pending of said suw. Such suins so expended to bear interest at the rate at which iaterest is payable upoA said principal indrbtetiness aad the lien of thu ?lfortYagt shall e:tend to and secure the suuu so eipended together with interest thereon as hereinbeforo provided. 19. At mortgagee's option, together with and in addition to the monthly payment of principal and interest payable undrr the terms of the note secured hereby, Mortgagor shallpa y to Mortgagce each month until said note is fully paid, one-tu•elfth 13 ) of a sum equal to the annual preauum due for fire, e:tended coverage, and other hazard insurance including flood insurance, co~•ering the mortgaged property, plus ta:es a~ asseumeats nezt due on the mortgaged property (all as estimated by :~iortgagee) less aU sums already paid therefor, and to be divided by the numbec af months to elapse prior to the date when sueh ta:es and assessments shall become delinquent. Said sums shall be held by Mortgagee in trust or credited to the principal of the loan. to pay said insurance, ts~es, and assessments and shall be applied on the payment thereof wben due. Any esceas held in tnut by Mortgagee when said loan is paid in Eull shall be paid to Mortgagor, or his aui~na or personal represeatatives. In t5e avent of a default or foreclosure, aaid sums held in tnut may be applied on any costs of damaga sustainec~ in rnnnectioa wit!? the collection of the note secured be~eby whether by suit, forerlosure, or otherwisr. rfortgagee may from time to ame at its~optioa waive. and aher any such waiver, niastate any or all pmvisions hecrof requiring such deposits, by notice to ~lortgagor in writing. Whik any such waiver is in tffect, Mortgagor shall pay t~es, assdstmenb and insurance premiums as herein elsew6ere provided. 20. Mort~ga~gor shall comply with the ~rovisions of any lease, tf this mortgage is on a leasehold. If tbis murtgage is on a condominium unit, mortgagor s6all perfo~m all of mortgagors obligations uoder t6e declaration of condomiaium or master dred, the by-laws and regulatioas ot che eoodominiuan project and eoa~titueat documenb. Mortgagex furt6er covenants that ha and the association responsible for the operation nF ?h. .......i.....f..t..... .,.:1~ .,l..r..~ .11 ..t .,~...a~;.,,,~ _r .L_ _ .1--~-- - •L--- f . . _ -_-_~..__a ~ u~ .:i :.+:u ......wi.C t.1:- w.~ u~.. ' oi:u ~IC u~o Vl/4uViiulLlilll LW Vl the state, and will perform all obligatioos thereunder; and a failure to do so which is not cund withia 30 days after notice given by the 41ort- gagee to the moctgagor and the said auociation shall coaStituta a default under this mortgage. Mortgagor further specifically covenants, but not by way of limitaHon, that he and the auociation will observe all of the pmvisions of said dcclaration of condominium relaeng to insu~ance coverage. 21. I?tortgagor further covenants and agrees that at the request of Mortgagee to furnish a standard termite bond insuring against damage by infestation on the bui{dings now or hereafter locat~d on the mortga¢ed property, in such amounts and terms, and with such company as approved and required by Mortgagee; and in the event Mortgagor does not comply with this covenant :~tortgagee shall have the same rights to obtain saa?e as iaiurance co~rage under covenant 2t3 hcreof. 22. That in the event that this mortgage is givsn to securo a construction loan, failure on the part of the ~tortgagor or the ~tortgagor's contractor, architeet, en~inxrs, or sub-contractors to comply with the terms of the Construction Loan Agreement of e~ en date herewith, which is by reference incorporated hercin, shall, at the option ~ the Mortgagee, constitute a default hereunder. 23. IE the mortgaged premises is other than a oae to four Eamily dwelling. the hiort agor covenants and agrees that he will, not later than thirty (30) days after the end of the fiscal year, fiimish unto the Association a comp~ete and accurate balance sheet and profit and locs statement reflecting the Mortgagors liabilities as well as profit and loss for the fiscal year, and such balance sheet and profit and loss state- ment shall be prepam3 by a certified public accountant ticenced in the State of Florida, and shalt be certified as being correct by such crrti- fic~~l public accountant. 24. If any of the sums of money herein refened to be not promptly and fully paid within thirty ( 30 ) days nest after the same severally become due and payable, or if each and evcry the stipulations, agreements, eonditioas and coveaants of said promissory note and this mort- age, or either, are not duly performed, complied with and abid~d by, the a~ ggregate sum mentioned in said promissory note shall become ~ue and payable forthwith or thereafter at the option of the Mortgagee, as fully and eompletely as if said agRregate sum of money was origi- nally stipulated to be paid on such day, everything in said promisssory note or herein to the contrary notwitlutandinQ. - 23. In the event that the Mortgagor makes payment by check or checks that the riortgagor has failed to properly endo~se, the ~tortqaRor dces hereby appoint the Mortgagee as its attorney-in-fact to supply on behalf of the titortgaAor any and all endo:sements necessary to negotiate said check or checks and the Mortgagor agtees to hold th~ \tortgagee harmless from any liability whatscever for supplying said endorgement. In the event the Mortgagor shall cash a check for the Mo:tcagor and same shall be rehuned for insufficient funds or any other reason w that the Mortgagee is unable to collect its money, thea ffie ~tortgagor hereby authorizes the ~1ort¢aqee to add said sum to the principal balance of this mortgage and said sum shall be secured by seid promissory note and mortgage as thou¢h it was an addiNonal ad~•ance ~~nder the ternu and conditio~s of this mortgage. ' °6. Special provisions: I\ WITNESS WHEAEOF, the said Mortgagor has ezecubed tbis mortgage under seal on the day and/year 6erein firn above writtea. Sicned, se ed and delivered in the presence of: ~ / i ~ ; - - - - ( SEAL ) ! . ~ SKIL i ' ~ , : ; ~ ~ ~ - , ' < < ' S L ~ ~:.x. ~ __~__.:_-z' ~ ( EA ) ; - - - - ~ ' j f / ELIZAB J. SKI ' ~ t E . 1421668 ~ '90 JAN 26 A11 ~ ~tii f p ~ !~E ' ~tt _ _ ~ State af FLARIDA '?0~~~1 X GN . ~ County of MAR`PIN ~ ~ L t! . _ - . ; k - . ~ The foregoing iattrument was aclmowledged bef+are me this 25 daY ~ JAN[JARY • 19 90 , ~ h~ JOHN T. SKILES & EI.IZABETfi J. SKILFS, HIS WIFE 4 9 • r ' ~ f Commission e:pires: _ - _ / ~ ~ ' --n i:,: ~ u_: NOiARY ?UBUG; ST ATfi OF F10i:i.~A A r N PUb~ ~ ~MYCOMM S;ip:~ EXP?RES MqY 13, r~'a, BQNDfD THkU A ~ ~ \otary Seal) GfNi'S NOTARY BRG~~wq~~ ~ . State of ~ ' ` • County of , •r _ r : ; The foregoing inttrument was acla~owledgad before mc tWs day of J ~ 19 ~ f b~' ~ o[ ~ 8 ~ on behalf oE the corpontion. ~ ~ »y COQ1tIlIS3fOD CZpIfCS: ~ - - Notary Fublic t, \otary SeaI1 B~~K 675 Pa~f OV~ h ~ _ „~~~y~, ~ . . . . . ' . ~ ,..<'~.~a~v~~e~~~.-~~"~`_'~.~=;~au ~+'~~"~:ar~~`''~~~'a~'.~~~',~L~~`'~~ _