Loading...
HomeMy WebLinkAbout0096 i~uu:.,n~e, an.1 .iny otlirr cu~zrage re~~u:r~d by the n;ort~;a~;r~, un lwrll~u~. ~•ti~;il~le for ~uch b~~aJeuc~cl co~erage - provideci, however, that ,uch insuran~e Ve in an awount suflicient to comply with any co-insurance reyuirements co~•ering saine un~rr the laws of the ~tate of Flonda, an~ provided furtlier that t1~e pe>!icy or policies shall be ~vritten in a eo~npany or comp anirs and through aa agency satisfactory to the Alort- gagee and that said policy ur policies sh;ill be held by the \tortgagee, shall be in a form satisfactory to the ~fortgagee, and shall contain a standard mortgage clause in fa~•or of and in a form acceptable to the \tortgagee; and in the event any sum oE money becomes paysble under any such ~wlicy or policies, the ~1ort~;abee shsll ha~e the option to reeeh•e and apply the same on aecauut of die indebtE~clness hereby seeured, or tope rmit the :1lortgaFor to recc•i~~e and use it, or any part thereof, for other purposes, without thereby wai~ing or impairing any eyuity, 1ien, or right undrr and by ~~i~tue of this murtgabe; and in the r~•ent the :1lortgagor dces ~o[ comply with this co~•enant, the ~lortQugee ~uay place and pay for such insurancr, or any part tiiereof, without wai~•inq or affecting the option to foreclose, or any right hereunder, and tl~e full amount of each aiid erery such payu~re~t sh:ell be immecliately due and payablc, and shal( bear interest from the date thr=eof until paid at the default ;•c:e p:o,;:~ctl i~ said r~ot~ ar,d ~.-,~e.;~e~ wiil~ su:6 iuiru•~t ai~;ui ue arcurrii oy ti,e lien oi ii?is mortgase. Tusurance co~•ennK the peril ot llood dam:~~.~ sh:~ll l~P :ic rr~tu~r.~~l ~h.• lv~~~l Tlis.~.s!e: Y~:,~E~~±:.,.. A:t of 19?3, , us .,..,~,^,:~c.~, and n;ortgagor c~t'rnants 3ri~ igrcc•s tu Cur'iij'i~y in all rrspects «~ith the pro~~isions thereof. 4. Th.~t inortq:i~ee ma~~, at any ti~ne ciurin~; the mortgage term, and in its diccretion, apply for reueH•al of mort?;age guaranty insurance .u~er~u~ the niort~.i~c c•xecuted b~• the undrni~ueii on r~~en date herew•ith, pay the premium due by reason thcre•of, and require repayment l~y thr ~?u<le:;i~;ncd of such amouuts as arc• ad~an:~~cl bp said mortgagee. In the event of failure by the undersibned to repay said amounts to : ~ , . :.:~~.~;a~~c, in~~~,~r ~i~eii i~r tuu.,i~ic•tr~i a uriauii, auu aii pruvisions ot tne note anU mortgage with re};ard to deta~~lt stiatl be appti- c:l l~lr. ~uu t~a~or~to~krr ~thct~bti1c1inusfO11 So1a a~te, inipairment or deterioratiun of said property, or any part thereof, and upon the failtue of the p ~ property in goal condiHon of repair, the 1lortgaqee may demand the immcc3iate rcpair of said bvild- u~cs, or an increase~ in the a~nount of security, or the iinmediate repayment of the debt hereby secured and the failure of the \lortgagor to com- ph• withsai~l dc~inand oE the \fort~;;~ger for u perial of thirty (30) days, shall constitute a breach of this mortgage, and, a? the option of the ~fo~t~:«c~e, i~n~n~~ili;~tely inature ihe rntire aruount of principal and interest hereby secured, and i~nmediately and w~ithout notice, the hlort~agee n~:~~• in>tihite~ p:cxec~diuts to forrclose this mort~a~;e and apply for the appointment of a Receiver, as hereinaFter pro~~idc~cl. ti. 7'u pe•~furni, couipl~• ~vith ancl ;ibide by each and every stipulation, agreement, condition and co~ensnt in said proinisson• notr :ind ~leecl ,~•t forth. I~i the r~rnt tl~r jurisdiction of tl~e l.'. S. District Court shall be im~ok~~cl by or aqainst the ~tort~afior under any of tlir pro~•isions of ths E~~~~I~•«I s:~~~kR~~c~•~~ a~~c, s~,~~h action, ~vht~ther ~~oluntary or im•oluntary on the part o~ the :lfortgagor, shall automaticaUy, w•ithout notice, ac- ~<•le~rate the maturih• of all sumc of money herein described and secured, and the same shall thereupon become due and payaLle forthwith a. fully as if thc said aRGregate su~ns of ~noney w•em originally stipulatecl to be paid on such date. 5. 'I'o dcliti~er to said \tort~;a~ee, on or before Afarch 15th of each year, tax receipts e~tidencing the payment of all IawfuUy imposed tazes (or the pre•cedink calendar year, and to deliver to said 1~iortgagee, receipts evidencing the payment of all liens for puUlic improvemrnts a~thin nin~~ty ( 90 ) days aEtrr the same s}~all br~ome due and payable, and to pay or discharge within ninety ( 90 ) days after due date, any and all r;o~ern~n~•ntal le~•ies that may }x• n~ade on tlie mort~aged property, on this mortgage or note, or in any other way resultinq from the \lortgaRe in~lc~btc~clness secured hy this mort~;a~r; and if this condition be not complied with and performeci, said mortgaFee may pay such sum or sums .~•hi~•h sh~ll becorr~c part of the debt serured by this mort~age, and shall bear interest at the default rate pro~•ided in said promisson• note p:~~~ahlr mouthh• until paid or caicl ~nortRa~;ee may elect that said mortga~e debt thereupon become dve and payablP forthw-ith. 4). It is furtlier cocena~iti•d and .~~;recd b}• said parties that in the event of a suit heing instituted to foreclose this mortgaKe, the \tortgagee uf?,Il~ancl~~tiiq~ ular~tiP~rio~rtf;; krd~p~~roperty,~ and of all the~rents,sincome~1eprofits,hssuesand r~eve n thereof ~from wt~.~stoe~cr source ~~i~r ancl t1~e~rr;ipen it is },erehy e~pressl~• coven~ nted and agreed that the court shall forthw~th appoint a recei~•er of said mort};aRed property, all and ~ir~cidar, and of s~uh rents, incomes, profits, issues and revenue thereof, from whatsoever source derived, with the usual pow~ers and ~luti~•~ ~f recci~i~rs in like cases and such appointment shall be made by such court as a matter of strict right to the \tort~;aQee, its successors, l~~~al rrpre~sentati~es or assi~ms, and w~ithout reference to the adequacy or inadequacy of the value of the property hereby mortKaged, or to the ~ohrncy or insola~ency of the ~tortga~or, and tl~at such rent, p:ofits, income, issues and revenues shall be applied by such recei~•er to the pay- ~nent of the morF~age indebteclness, costs and charges, according to the order of such court. 10. If all or any part of the property or a lefial or equitable interest therein is sold or transferred by mortga~or without mortgagee's prior ~critten consent, irtcludin~ but not limiteci to the execution of an agreement for deed, but euludinq (a) the creation of a lien or encum- hrancF su}~ordinate to thic mortcage. (b) the creation of a purchase money security interest for household appliances, (c) a hansfer by <1~~~•ise ~r descent, or by operation of law upon the death of a joint tenant, or ( d) the grant of any leasehold interest of three years or less not containinG an option t~ purc•has~, mortgaQee may, at its op6on, declare all the sums secured by this mortgaKe to be immediatelv due and payahle. Aiorts;a~;ee shall ha~•e wai~•ed such option to accelerate if, prior to the sale or transfer, mortgagee and the person to whom the property is to be sold or transferrecl reach a~:reement in writin~; that the credit of such person is satisfactory to I?iortgagee and that the interest payable on the sums secured bv this mortc~age sha11 be at such rate as ~iortgagee shall request. If Mortgagee has wai~~ed the option to accelerate pro- ' ~ideci in this paragraph, and if \tortgagor's successor in interest has executed a written assumption agree~nent accepted in writinc by Jtort- ' ~agee, Mortgagee shall release \tortgagor from all obliRations under this mortgage and the note secured hereby. ! 11. 1'hat in the e~•ent the premises hereby mortQaged, or any part thereof, shall be condemned and taken for public use under the power i ~~f c~~ninent c~omain, the \tortqa~;ee shall have the ri~ht to demand that all damages awarded for the taking of or damages to said premises ` ~hall be paid to the :llortKaqee up to the amount then unpaid on this mortfia~e and at the option of the titortRaQee may be applied upon ~ the payments last payable thereon. ! 1?. The mortQaeor binds himself not to erect or permit to be erected any new buildings on the premises hetein mortga~ed or to add to ~ ~~r permit to h~ adde•d to any of the ezisting improvements thereon or make any changes or alterations in said improvements which materially ~ < han~,e the sanm or the use thereof, without the writtcn consent of the biortRaRee, and in the event of any violation or attempt to violate thu j ~t~p~ilation this mortLagP and all sums secured hereby shall immediately become due and collectible at the option of the Mortgagee. i3. It is specif:cally agreed that time is of the essence of this contract. The failure of the MortgaRor in one or more instances to insist upon strict perforn~,inc~ or ubsen~ance of one or more of the covenants or conditions hereaf, or to ezercise any remedy, pri~zlege or option herein t onferred upon or resen~ed to the '~tortqagor, shalt not operate or be construed as a relinquishment or waiver for the future of such covenant E or condition or of the right to enforce the same or to ezercise sueh privilefie, option, or remedy, but the same shall continue in full foree and [ ~~ff~•ct. Thc recript by t}~e ~tortR:,fiee oE a monthly payment or payments or of any other payment required to be made by the ~tortAagor, or ~ any part thereof, shall not be a waiver of any other additional payments or amounts then due, nor shall such receipt, thouRh with knowl- ; c-dfie of the hreach of am~ covenant or condition hereof, operate as or be deemed to be a waiver of such breach. tio waiver by the Atortgagee ~ nf any of the provisions hereof or any of the Mortgagee's rights, remedies, privileRes ar options hereunder shall be deemed to have been ~ r~ade unless made by the Mortgagee in writing, ~ 14. If foredosure proceedinAs of any second mortgage or second trust deed or any junior lien of anv kind should be instituted, the ~tort- r ~*a~ee may, at its opHon, immediately or thereafter declare this mortga~;e and the indebtedness secured hereby due and payable forthwith, and ~u;i~• at its op!ion proceed to foreclose this mortQage. g li. To the e~tent oE th~ indcbtedness of the \fortgaRor to the ~tort~a~ee descrii~ed herein or secured hereby the ~iortgauee is hereby ~ ~~il~roc~ate~d t~ the~ lie~n or li~~nc and to the richts of the aw~ners and holders thereof of each and e~•ery mortcaee lien or ~the•r incumbrance on the ~ ]and descrihed L•~rein ~vhich is paid and/or satisfied in whole or in part out of the proceeds of the loan described h~rein or secured hereby, s ,ind th~ re~p~~cti~•~ lir~,t of said mort~:aees, liens or other incumbrances chall be and the same and each of them i~ereb~• is presen•ecl and shall ~ pacs to and 1>r held by thr !11ort~agee herein as security for the indebt~dness to the MortRagee herein describecl or hereby secured, to the same ~ f~ztent that it w•oi~ld ha~•e been presen•ed and woiild have been passed to and been held by the I~tortgagee had it beer. duly and reAularly ' assiene~cl, transferred, set o~•er and ~ielicered vnto the MortRagee by separate deed of assignment not~c~thstanding the fact that the same may hr satisiie~d and canc~lled of record, it hein~ the intention of the parties hereto that the same will be satisfied and cancelled of recosd by the iin~c~rrs th~reof at or about the time of the recording of this mortgage. 16. The '~tortgagor will pay or reimburse the Hiortgagee for all reasonable attomey's fees, costs and eapenses pai3 or incurred by the Mort- ~:a~ee in any acti.nn, proceeding or dispute of any kind, whether on appeal or not, in which the 11lortgagee is served with legal process, is made a parcy or appears as part}~ plaintiff or defendant affectin~ the note, this mortgage, Mortgagor or the mortga~ed proFerty, includir,g but not lirnited to the foreclosure or other enforcement of this mortga~e, any condemnation action invol~znQ the mortgaged property, any action to protect the security hereoF, or am- proceeding in probate or hankruptcy; and any such amounts paid or incurred by the riort~aRee shall be r~,~ added to the indebtedness, shall hear interest at the default rate specified in the note from date of payment, and shall be secured by the lien ~ ~f this mortgage. a 1 ~~'hc~n am~ anwunt of m<~ncv to l~e paicl by the ~tort¢auor to the ~tort~agee under the terms hereof shall be in default, or should the ~ '.icntcas;or defa~,lt in any of the other Lenns, pro~~isions or conditions of this ~tort~aQe, then and in that case the '.~tortgagee shall have the ~ riciit, «ith~;nt nntice to the• \to~La,or, to coliect and recei~•e Erom any tenant or lessee of said mortQaged premises the rents, issues and ~ ~~r~~~its of thr r~•al ~.tat~ h~reby morttaeeil an~l thc improvements ihereon, and to Rive proper receipts and acquittances therefor, and after ~ ~»yinq all commisainns of any r~•ntal aeFnt cc.llectinq the same, and any reasonable attorney's fees and other necessary eapenses incurred in ~ ;~~lirctin~ c:un~, to aT~piy th~ proceeds of such collections upon any indebtedness. obligation or liability, of the ~1ortRa~or hereunder. The ; richt firantr<I th~~ \tort•;aee<> und~r this para~raph shall be in addiE~on to, and shall not limit or restrict, any other riqht or rig,hts granted the ' " \ltirtL.i.t'r• in tliis ~1ort,a~c~. , f,~:~ 1R. IF th~ ~t~~rtca~oi. at the timc of makins; this ~tortAage subsequent thereto take out life insurance designating the Mortgagee herein - ~ ;~t h~nF•(ician• ~ritl~ a cnmpany appro~•cd !iy the ~tort~a~ee or assigns policies to the 1liortgagee for the purpose of securing the mortRage loan I,~~r~~}n~ securecl. tli~n thP ~i~rtu,~~:e~ shall ha~~e the riQht to pay any premium aceruing under said policies, and all sums so expended shall be .,-lri~rl t~ ancl }~~crn~~~~ a Part of th~• principal indrhtednecs secured by this !ltori~aRe and shall be paid by the ,\iortgagor to the Mortgagee in taeh~e equal con.~cu!i~•F mor.Ehh~ ir.stallments, the first mont}ily installment to be paid as a parE of and in addition to the monthly payment - > :w - - -,~;v' 'SY-~ p',-' 1 si:, .