HomeMy WebLinkAbout0763 ?O H\~ f\\U IO H(~1 l) thr ,.~mr. t~~~cthrr H.~h thr trnr~urnt,. hrrr.l;~.~mcut. en.1 ~ppunrn~n;r., uniu thr \1.,rt~.~gcr. ~n irr ,inirlr
A`U thr \i~~ii.a~~~! d„r, r~errh> :.~~ru~nt wnh thr \t~~r~.e~et iha~ hr i, in.lclre.~bh .ri~:~J ul ,~id I.~iu1 ~n ter.im~lt. tha~ hr hs. tuil {~~,~~rr enJ L~~tiil
r ~chi io ~i~n~r> ,.ud Lin~ ~n•tr~ .ur~~!r a, al~,rr,aid: that ~t .h.ill be la~~tui lur thc ~lortga~rr ai all un~r. ~ra:rahh :~n.l yuirih tu rntrr upon, h~~IJ. u::up> anJ
~n~.n .aid IanJ. ihat ,.~i.1 land i. Ircr Iri~nti ,~I! rn;umhran:c,: tha~ hr H III fll:l'wC,u.h turiher a..ure;~.r. iu p~~~tr:i ihr lrr.impk u~ic ~u lau~ in ~hc \t.~rt
~'.s~tr a, tna~ rr.t.~,n~hl~ hr rryuueJ: !hat hr .1ur. hrrrM t ill~ ~~.u~dnt thr titlr tu .aid len~1 end Nill drfrn~ thr.ame e..fin.t Iht lawtul ~laim. ~~f :tll ptr..~n.
h.~;n.~~r~ ~ r
1'RO\'ll)E l). ,\I \\:~l ti, ~hat it thr \1utt.a.~~r ~hall {~a~ uutu thr \furtvegtt an~ balan:r due un a:rrta~n t ywt~ l inr ut i rrJu ~\grri~mrni
i" ~.rrrmrnt"1 hrtwrrn \1~,rtRa.,~r an.f \i.,ng~~eti• hich u~r:urel b~ th~. 11~~r~ga~r but ~ hhh hai~nrr thall not e~:eed ih~ amuunt ,rt tunh ~n thr ~urcg~~in~:
~~uurr a.l~an:c rr~~~ i.i.~n, an,1 ,halt prumpth prrturm. ~~~mph Huh. and ahi~r hy ra:h and r~er~ ihr.upulati~m,, agrrrmrm,, :unduiun.. anJ :u~rnant. uF
,,,iJ -lgrrrmen~ an~ ~~f thi. dcZJ, [htn ~hr c+tatr htrrh> :rrateJ .hall .ea,e and br niJl and ~uid.
-\\D :hr \1urt~a~ur .fur, hrrrh~ :u~rriant ar..1 a~rrr:
L Tu pa> 311 an.i.ingular thr pnnripa~ an~ in~rrc.i an~ uther .um, ul m~~ne> pa~ahlr hy ~ inur ul,aid Agreemrn~ and ;hi. murtgagr. ur rithrr. prumptl~ un
~hr rr,~e:~i~ei~. ~hr ,ame ,r~rrally ~ume :1ur
Tu pa~ all and .ingu!ar thr ta~r~, a,.e~,mrni~, le~ ir., liahilihr;, uhliga!ion, and encumbcanct. ul e~en nature un ti.~id dr,criheu pro~+rrt~ rarh and r~ery
~.hrn due and pa~able ai:ord~n~ ti~ taN, brlurr thr~ be.ome drlinyuznt, and it ~hr tiamr,hall not t+~ promptl> paid ihr ~tortgager ma~ at an~ time rither
h.tort or after delinyuen~y pa~ thr +ame ~uhuut Nai~ mg or a(fe~ting Ihe optiun tu foretlo~e, or an> right hereundtr, and e~ery pa>ment ~o madr ehall brar
uitrrc~t frum the datr thrreul at the rate pro~ided in said Agrtement.
3. To ?rrp the bwlding: anJ all eyu~pmrnt and prnu~al prupert~ now or hrreafter an SaW premises, co~errd by this mortgage, inwred in a sum at least
r~ual to the unpaid balan:r of thi+ morigage, m~luding fire, flood, euended co.erage, ~anda6lm, maliciou~ m~c.hie(, and an~ other ~o.rragr rc~uirc~f b~• thz
m~~rtgager, ati to pro~xrtieti othtr than dNellmg~, and fire, floud, ertended co~erage, +Fxrial-form othrr-prrilc incurance, and any other co~erage required bp
; hr mor~~rager, on dwrllingti rligible for w.h broadrncYl :o~eragr - pro~idrd, howe~zr, that such insurance be in an amoun[ sufficient to rompl~ with an~ ro-
~n.uran~e reyuirement~ ~o~enng tiam; under the IaNS of the Statr of Florida, and pro~idrd further that the poticy or policies shall be w ri~ten in a companp or
.~~mpaniet and through an agency .ati~fartor~ tu the ~tortgage~ and that ta~d polic) or policies shall be held by the ~tortgaget, shall be in a(orm satisfactory
the \tort~aeee, and thal! rontain a ti~andard mor~gagr elaute in fa.or of and in a form acceptable ~o ihe lfortgagee; and in the e~ent any sum of mone~•
h~;omr. pa>ahle under am w:h polic~ or policiec, ~he ~1or~gagee,hall ha~e the option to re~ei~e and apph• the camz on account of the indebtedness htreby
~r~ured, or to permit the \lortgagor ta recei~e and u,e it, or an~ part thereo(, for other purposes, with~ut thercby wai~ing or impairing anp equity, lien, or
nghi under and b~ ~irtue of thi~ mungage: and in thr r.ent the \lortgagor dces not ~omply Nith thi~ ro~ena~t, the Mortgagee may place and pay for such in-
~urance, or anc pan therruf, w ithout wai~ ing or alfe~ting the option ~o foreclose, or any right hereunder, and the full amount of each and e~ery wch payment
,hell be immediatel~ due and payable, and .hall bear interc~t from ~he date therm( until paid at ~he detauh rate pro~:ided in said Agreement and togeiher with
.uch interru chatl be ~e.ured b~ the lien uf [hi~ mongage. f nwran.e co~enng the p:ril of flood damage shall be as rrquired by the Federal Disaster Protection
~.i uf 19~3, or ac amended, and mortgaeor co~enantti and agrerc to complp in atl respects with the pro~isions thereof.
a. That mortcagee ma~, at an~~ tfine dunng the mortgage term, and in its dlccretion, apply for renewai of mortgage guaramy inwran:e co~ering the mort-
z.~ge e~e.utrci b~ the undertignrd on e~en date hereNith, ps~ the premium due by reason thereof, and require repayment by the undrnigned of such amounts
are ad~anced by tiaid mortgagee. In the e~ent of faiiure by the undersigned io repay said amounts to said mor[gagee, such failure shalt be considered a
,iefault, and all pro~is~ons of the AKreemrnt and mortgage with regard to default shall be applicable.
5. To permit, commit or suffer no µaste, imFairment or deterioration of said p:opertp, or any part Ihereof, and upon the failure of the mortgagor to keep
~ hr huilding~ on ~aid propert~ in good condition of repair, the ~lortgager ma}~ demand the immediate repair of said buildings, or an increase in ~he amount of
.:urit~, or thc immediate repa~ ment u~ the debt hrreh~ ;e.ured a+~u ~i~c ia~iurc ui iiic tt~rtgagor t~ ~ompiy w ith said demand of the \tortgagee for a period
,~i thirn 130) da>s, ~hall ~onuitate a brea~h o( this mortgsge, and, at ihe option of ihe \lortgagee, immediatel~~ mature the entire amount of principal and in-
~ere.t hrr~by se~ured, and immedia~ei~ and N nnout notice, the ~lortgagre may institute proceedings to foreclou thi~ martgage and apply for the appointment
,~t a Rt~ei~er, as hrreinafter pro.ided.
6. To perform, comph with and abide b~ each and e~ery ctipulation, agreement, condition and co.enan~ in said Agreement and derd sel forth.
In the e.ent the juri;di~tion of the U. S. Distri:~ Court shall be imoked by or against the ~tortgagor under any of the pro~isions o( the Federal BanA-
r:;r!~~ Act, su.h action, whether coluntary or imoluntar~ on the part of the ~tortgagor, shall automati.ally, without noti:e, accelerate the maturily of all
~um, of mone~ herein dc~cribed and .ecured, and the same chall thereupon becomr due and pa}~able fonhwith as full~ as if the said aggregate sums of mone~
~.:re originally stipulated to be paid on cuch date.
5. To delner tn caid \toneacee, on or before ~tarch I Sth of ra;h ~rar, tas re.eipts e~idencing the pa~ment of all lawfully imposed tate; for the preceding
:alendar ~ear, and tu deli~er to said ~tortgagee, receipts etiidrncing the payment of all liens for public impro~ements within ninety ~90) days after the same
~hall become due and pa~able, and to pa~ or discharge w i[hm ninetp ~90) days after due date, any ar.d all go~ernmental le.ies that may be made on the mort-
eaged property, on this mortga¢e or Agreement or in an~ other wa~• reculting from the ;4lortgage indebtedness secured b~• this mortgage; and if this condition
h~ not :ompGed H ith and per(ormed, said mortgaeee ma~ pa~• such ~um or sums w hich shall becort:e part of the debt cecured b~~ this mortgage, and shall bear
~~e:ett at the default rate procided in ,aid Agreement papable monthi~ until paid or said mortgagee may elect that said mortgage debt thereupon become due
,~r,~i pa~able (onhHith.
9. It is further co~enanted and agreed b~ caid parue~ that in the esent of a suit being instituted to foreclose thic mortgagz, she Alortgagee shatl be entitled to
~ppl~ at am time pending wrh foreclosure wit to the court ha.ing jurisdiction thereof for the appointment of a receiver of all and singular the mortgaged
~n~perty, and of all the rent5, income~, prohts, issues and re~enues thereof, from whatsoe~er source derived; and thereupon it is hereby expressly co~enanted
' ,~nd agreed that the iourt Shall ~orth..ith appoint a re~ei~er of said mortgaged propertq, all and singular, and of such rents, incomes, profits, issues and
I retienue ~hereof, from wha[toe~er tource deri~ed, µi?h the usual powerc and duties of recei~ers in like cases; and such appointment shall be made by such
i ~~~un ac a mauer of ttrict right to the lfortgauee, it~ sucec~co~s, legal representatives or assigns, and without referenee to the adequaey or inadequaey of the
~ ~ a!ue of the pro~rt~ hereoy mortgaged, or to the sol.enc} or incol~ency of the :~tortgagor, and that such rent, profits, income, issues and re~•enues shall be
k ~~+~+lied by such recei~er to ehe payment of the mortgage indebtedness, costs and charga, according to the order of wch court.
~ 10. If all or an~ part of the property or a legal or equitable interrst therein is coW or transferred by mortgagor without mongagee's prior written consent,
' r._luding bw not limiteJ to the ececution of an agreement (or deed, but excluding Ia1 the creation of a lien or encumbrance subordinate to this mortgage, (b)
•he crratian of a purcha,e mone~ te:urit~ intere.t ior househoW appliances, Ic?a transfer b}• deviseor descent, or bp operation of law upon the death of a joint
f ~enant, ur (d) the grant of am leacehold interest of three years or less not containing an option to purchase, mortgagee may, at its option, dr.lare all the sums
~ ~ecurrd b~ this morteage to be ~mmediateh due and payable. ~lortgagee shall ha~e wai~ed such option to accelerate if, prior to the sale or transfer, mangagee
f and the person to w hom the property i. to be told or trans(erred reach agreement in writing that the credit of such person is satisfactory to 1lortgagee and that
che interest payablr on the iumc seiured b~ thi~ mortgage shall be at such ra[e as 1lortgagee shall request. If Mortgagee has wai~ed the optior~ to accelerate
; ro.ided in this paragraph, and if \lortga¢or's successor in in[erc~t ha~ erecuted a written assumption agreement accepted in writing by Mortgagee. !11ort-
~ ~,teee shall releate \tort¢agor from aU obligation~ under this mortgaee and the .Agreement secured hereby~.
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z I 1 That in the e~ent the premiceti hereb~ mortgaged, or any pan thereof, shall be condemneci and taken for public use under the power of eminent domain,
' ;i~: ~to:tgag~e shall ha.e the right to demand that all damages zwarded for the [aking of or damages to said premises shall be paid to the \lortgagee up to the
~ .3muunt then unpaid on thi~ mortgage and at the option of the ~tortgager ma~• be app6ed upon the pa~me~ts last pa~•abk thereon.
° 1?. The mortgag~r binds himself not to erect or permit to he erected any new buildings on the premises herein mortgaged or to add to or permit to be added
~ an~ of the eristing irtspro~ements thereon or make anc changes or alterations in said impro~ements which materially change the same or the ase thereof,
r ~ihout the w ritcen consent of the ~tortgagee, and in the e.ent of any~ ~ iolation or attempt io violate ths stipulation this mongage and all sums secured herebp
~ ~hall immediatel~• become due and collectible at the o~tion of Ihe ~lortgagee.
~ I?. l~ is cpc~~Eicalh agreed that time is of the essence of this contract. The fadure of the ~tortgagor in one or more instances to insist upon strict perform-
~ :~n~r nr oh+enan~e o! one or more of the co~enants or conditions hereof, or to e~ereise any remed~•, pricilege or option herein conferred uport or resened ro
'he ~tortgacor, shall not operate or be construed as a rehnquishment or waicer for Ihe future af such co~enant or condition or of the right to enforce the same
~ •~r <<~ erercice ~.uch pri~ileee, opiion, or remedy, but the same shaU continue in full force and effect. The receipt b~• the Mortgagee ot a month{y payment or
~ G,:,>mentt or o~ an~ other pa~ment required to be made by the Murtgagor, or anp pan thereof, shall not be a.cai.er of any other additional payments or
: ,mounts then due, nor shal) wch receipt, ihou¢h with knoµ ledge of the breach of an} co~enant or condi~ion hereof, operate as or be deemed to be a~aiver of
,.,:n hreach. No waicer b} the ~longagee o[ am o( the pro~isions hereof or an~ of the `lortgagee's rights, remedies, pri~ ileges or options hereunder shall be
~ lcemed to ha~e been made unles~ made by the ~tortgagee in wri!ing.
3: 1~3. If fore.lo~ure proceedings of any ,econd mortgage or second trust deed or any junior lien of any kind Should be instituted, the hlortgagee ma~~, at its
~~non, immediately or thereafter declare this mortgage and the indeMedne~ti secured he~eby due and payable forthNith, and may at its option proceed to
~:~re~lose this mongage.
I 5. Ta the e~tent of the indeh~edrie« o( the ~tortgagor to the ~tortgagee describe~ herein or ;ecured hereby the ~lortgagee is hereby subrogated to the lier.
, ~r litns and to the rights of the oµnert and holderc thereof of each and e~ery mortgage lien or other incumbrance on the {and describcd herein which is paid
~nd or tia[isfied in w hole or in part out uf the proreeds of the loan described herein or secured hereby, and the respecti~ e liens of said mongages, liens or other
;r~,umhrances chall be and the tame and each of them hereby is presened and shall pass ro and be held by the tilortgagee herein as security for the indebtedness
~a cfic ~iortgagee herein de~cribrd or herefiy- seaued, co che same cxtrnt that it wouki ha~e been precer. ed and N ould ha~ e been passed to and heen held bq ~he
~lortgagee had it been duly and regularl~ assigned, trancferred, set o~er and deli.ered unto the ~lortgagee br separate deed of assignment notwithstarding the
:.i~~ ~hat the same may be ~ati,fied and cancelled of record, it being the intention of the partiec hereto that tne same will be satisfied and cancelled of record by
;he holders thereot at or about the timr of the recording of this mortgage.
16. The ~tortgagor w i!I pa~ or reimburse the ~lortgagee for aU reasonabte a[torney's fees, co~ts and expenses paid or incurred by the !~tortgagee in any ac-
s ~;on. proceeding or dispute of anp kind, whether on appeal or not, in uhKh the `lortgagee i~ sened with Iegal process, is made a part}• or appears as party
, laintiff or de(endant affe~-ting the Agreement, thit mortgage, ~tortgagor or the mortgaged property, including but not limited to the fareclosure or other en-
ti r~~r.ement of this mortgage, an} condemnation action imol~ ing the mortgaged property, am~ action to protect the security hereof, ar any proceeding in pro-
h.ire or bankruptc}: and an} tiuch amountc paid or incurred by the Mortgagce sha11 be added te the indebtedness, shall bear interest at the default rate specified
~ n the Agreement from date of pa}ment, and sh21i be secured b}• the lien of this mortgage.
17. 1~'hen an} amount of snone~ to be paid h} the ~longagor to the ~lortgagce unde: the termc hereof shall be in dc(ault, or shouid the Mortgagor de(auli
- ;r any of the other termt, pro~ ision~ or ~ondrtions o( this ~tortgage, then and in that case the !~lortgagee shalf have the right, whhout notice to the Mortgagor.
~ollect and recei~ e from any~ ienant or lectiee of sa~d martgaged premises Ihe rents, issues and profitc of the real estate hercby mortgaged and the improve-
rn~nts thereon, and to gi.e proper receipct and a.yuittanres therefor, and after paying all commissions of any rental ageni collecting the same, and any reason-
ahle attorne~'c fees and o:Fer necestar~ er~en~e~ incurred in collecting same, to apply tne proceeds of such collection~ upon any indebtedness, obligation or
;~.~hilsh~, of the ~tortgagor tiereunder. The right eranted the ~tortgagee under this ~+aragraph thall be in addihon to, and chall not limi~ or restrict, any other
r:eht or nght~ granted the ~lortga~ee In thi~ '~lortga¢e.
",^UTNEASTEAN ~QQ~ ~75 PACE
= T 261
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