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Home My WebLink About1185 Mo~+.yaga covenants ano ayrees w~th Mor!gagee as ?o~~ows ~ Compliance with Note and Mortqsge; War~nty of Tltle. Mortgayor s~7a~~ comply w~!h ,~n p~ov~s~ons o~ the Note. tt~~s Mortgage and ot e~ery otnPr ~nstrumen? ser,ar,~g ihe !4~?e. a^d ~romp;~y pay ~o :tcstaag~c t~,2 pr~nc~pai w~tn ~nierest thereon and all other sums requ~red to be pa~~ by Mortgagoc under the Note and pursuant to the p~ov~s~ons ot th~s Mortgage and of every other ~nstrument secunng the t~ote Mortgagor covenants that Mortgagor owns and ~s ~nde~eas~bly se~zed oi the Mortgaged Property ~n fee s~mp!e, that the Mortgaged Preperly ~s hee trom alI encumb?ances except as noted ~n the legal descnpt~on above, that Mortgagor has Iawtul au!honty to convey. mbrtgage and encumbec the same as prw,c4ed by the Mongage. tha? Mortgagee may peaceably and qwetly en~oy the Mortgaged Property, and that Mortgagor wd; deter.d the Mortgaged Property aga~nst the Cla~ms of alt persons whomsoeve~. and that Mortgago? so warrants 2 Payment of Taxea and Liena. Mortgagor shalf pay ail the taxes, a5sessments, iev~es. I~ab~f~t~es, obl~gat~ons and encumbrances of every ~ature now on the Mortgaged Property ~r that hereaf~Qr may be +?.^.posed, !~:•,ed o: assesse~ u,~cn !h~s Mortyage or the Mortgaged Prope~;~• or upon ihe ~ndebtedness secured hereby A1I such payments to be made when due and payab!e accord~ng to law before they become detmquenl and before any ~nterest attaches or any penalty ~s ~ncurred. Insotar as any mdebtedness ~s of record the same shall be promptty sat~sl~ed and ev+dence d such sattistact~on shall be g~ven co Mortgagee 3 Insurance. Mortgagor shali keep the Mortgaged Property and the ~mprovements now ex~sting or hereafter erected cn the h1o!tgaged Property ~nsured as may be requ~red from t~m~ to t~me by Mortgagee aga~nst loss by f~re, other hazards and con;~ngenc~es I~nctud~ng tlood hazards and related occurrences ~n the event any Qort~on d the Mortgaged Property ~s tocated ~n a(lood hazard area as may be ~deni~t~ed f?om t~me io t~me) m such amounis and tor such penods as may be ?equued by Mortgagee Mortgagor shall pay promptly, when due. any prem+ums on such ,nsurance. Atl ~nsurance shall be carried w~ih comparnes approved by Mortgagee and the pol~cy and renewals thereof shall be held by Mortgagee and have attached theseto loss payabie clauses ~n favor and m form acceptabte',o Mortgagee In the event of loss, Mortgagor shall g~ve ~mmed~ate noUce by ma~1 to Mortgagee and M~rtgagee may make proot of loss ~f not made promptly by Mortgagor. Each ~nsurance company co~cerned ~s hereby authonzed and dnected to make payments for sueh loss d~rectly to ~uiortgagee mstead d e~ther to Mortgagor or Mortgagor and Mortgagee 4o~n;ly lnsurance proceeds or any part there~f may be appl~ed by Mortgagee at its opUon, after deduct~ng theretrorn all ~ts exoenses ~nc!ud~ng a!tomey's fees, e~ther to the reducUon ot the ~ndebtedness hereby secured or to the restor3bon or repa~r of the pr~perty damaged Mortgagee ~s hereby authonzed. at ~ts opt~on, to settle and comprom~se any cia~ms awards. damages. r~ghts of act~on and proceeds. an~+ any other payment or rehef under any ~nsurance po6cy. In the event d foreclosure d th~s Mortgage a other transier o? Utle to the Mortgaged Property ~n ext~ngu~shment d the mdebtedness secured hereby, atl r;ght t4tle. and +nte~est of Mortgagor m and to any ~nsurance pol~c~es ihen m force shall pass to the purchaser or grantee Mortgagee may at ~ts opUon reqwre Mortgagor ro depos~t w~th Mortgagee on the f~rst day of each mor.th, ,n add~Uon to making payments of pnncipal and interest. unt~i ,he Note ~s tuAy pa~d, an amount equal to one-hvelfth (1~12) of the yearly p~em~ums for all ~nsu~ance Such de;~os+ts shali not be nor be deemed to be, trust funds. but may be comm~ngled w~th the qene~al tunds of ~,~ortgagee and no ~nterest shaC be payable ~n resp2ct thereof Upon demand by Mortgagee. Mortgagor snall de!+ver to Mortgagee such add~t~ona~ mon~es as are necessary to make up ary deF~c~enc~es ~n the amo~nts necessary ?O ena~g MOf~CaBCq~ t0 DaV SUCh D!@R1iUR1S whP.n C1~iP. ~n ihP ~;Qnt pf ~lofg~~lt ~~~~n! y~~ flf ~he ,e;fi~S. C^v1%rc~ ~8~25 ai itj COfld~l~"vi the No'e th~s Mortgage ~r any o?her ~ns,rument secunng the Note to be performed or observed by MoRgagor. Mortgagee may appfy to the reduct~o~ of the s~~ms sec;ured he~eby. ~n such manner as Mortgagee snall determme. any amoun; under ~,^.~s paragraph rema~rnnq to hlortgagor s cted~t and any return prem~um rece~ved from cancellat~on of any insurance pohcy by Martgagee upon tore:,!osure o! th~s Mo~tgage 4 Condemnation. ~f the Mortgaged Property or any part thereoi shall be damaged or taken thrpugh condemnat~on ,;,n,,~h term when ~sed r.erem shai! ~nc~ude arnr damage or tak+ng by any gavera~men,al authonty or arry o;her author~ty authonzed by the ia~+vs o' the State of Fionda or the Un,ted States of Amenca to so damage or take, and any transfer by o«vate sale ~n i~eu thereoi). e~t~er temporar~ly or perrr~nently, the ~n?~re ~ndebtedness and other sums secured hereby shail. at the apt~on o` Mortgagee became ~mmed atety due and payabie Mortgagee shall be enUited ;o ali compensat~un awards. damages. c~a;ms. ~ g'~ts of act~on and p+oceeds a` or on acccunt of any damage or tak~ng through ~ondemnaUOn and ~s he!eby auihonzed. at ~ts opbon to c~mmence appear ~n a~,d a~esecu?e +n ,ts own or Moftgago~'s name any act~on or proceeci~ng re~aUrg to a~y c~nder'nati0n and to se'?~e o~ Comprom:se a~y c~a~m ~n ~onnechon therewdh AU such c~mpens8t~on awasds. damages i c!a~ms r~gh~s oi act~o~ and prpC~ds and any other paymenrs or re~~ef. and the r~ght thereto. are hereby ass~gned by Mor~ago~ •r• Mortgagee and Mortgagee a`ter deduchng ;here`rom a~~ ~ts expenses ~nclud~ng attorney's fees may release any mon~es ;o recen~ed by w~t~out at~e~.t~ng the ~~e~ of tn~s M~r,gaqe or may apply the same such manner as MaRgagee shall determ,ne. ~he ~eduG',O~ ot !he sums secured hefeby a~d to any ~renayment charge prov~aed ~n !he Note tfis MoRgage or any other ~strument secu~mg the No?e Ary ba~ance ot ;uch mon~es then rema~n~ng sha!I be pa~d to Mortgagor hAortgagor agrees to ~•x~~u?e suc~ f u^.he~ assq~~~~:ents o~ a~~; compe~s-~' ons a,va~ds damag2s c~a~ms r~ghts of acUOn and Groceeds as Mortgagee ~ ~ '?ay requ~re ~ 5 Care of Mortgaged Property. Mortgagor ~ha' not remove or demol~sh any budd~ng o~ othPr property form~ng a paR ~ ±he Martyaged P~operty ~v~tnou! the wntten consent ot Morgagee Mortgagor shat! no! perm~t, comm~t. or suffer any waste. e ~,pa+rmen~ os deter~o~at;on o' the Morgaged Property or any part the~eof, and shail keep the same and ~mpr~~ements thereon ~ n good co~d~?~on a~d reoa r Mortyago~ sha~~ not~ty Mangac~ee ~n wnt~ng w~thrn f,ve (5) days of any mJury. damage. or ~mpa~rmert ; c` or occwnng on the P~Aortgageu ProGerty Mortgag~ may at Mortgagee's d~screbo~. have the Mortgaged Property +nspecced ` a• any t~me ~^d Mortgagc~ shaii pay a~~ costs ~ncu~red by Mortgagee ~n exec:i:hng such ~nspection 6 Mortgagee's Right to Make Certain Payments. in rhe e,~ent tilortgagor fa~ls to pay or d~scha~ge the taxes assessments ~ ~ev;es i~ab~~'~es obi~gat;ons and encumb~a~ces o~ ~a is to keep the Mortgaged Proper+,y ~nsured a to dei!ver the pohc~es £ prem~ums pa~d or ta~~s to ~epa!r ihe MO~*:gaged Property as here:n ayreed MortgagEe may at ds ophon pay or d~scha~ge t the [axes assessments tev,es !~ab~hr,+es a~d ob!~~~t~ons and 2ncumbrances or any part thereof, to produce and pay for such ~ nsu~ance or tG make anci pay for such repa~~s Mo~tgagee shau have no obhgat~on on +ts part to determ,ne the valtidity or necess~ty of any payme~t thereo! and any such paymen! snai~ no? vra~ve or aff~~ any opt~on I~en equ~ty or nght of Mortgagee under or by v~rtue o! th~s Mortgage The'u!! amoun? o` eac.h and eve~y such payment shall be ~mmed~ately due and payable and shaii bear mte~es? f~om the da?e ihe~eo' ,~n;~! pa d at tne De}au!t Rate. as here~~afte~ def~ned and !ogetner w~th such ~n,erest. sha~~ be secured by'r!e ~ en o` th~s Mor?gage Noth;ng ~ere n conta~ned shal' ~ construed as reGu~nng Martgagee to advar,ce o~ exoend mon~es fpr any o! the pu~noses men?~oned th~s pa~agr2ph ' 7 Payment ot Expenses. Mcrtgagor shau oay ai~ the costs ct~arges and expenses !nctud~ng reasonabie attorrey s fees whemer ~ncurred at tna! o~ appe!~ate ~eve~ d~sbursements anti cost ot abstracts of btle ~ncurred cr pa~~d at any hme by p,~~rtgagee due ?o the ta~iure on the part of Mo~tgago~ oromp'I~• and !u!ly to perfo~m compiy w~th and ab~de by each and every st~puiat~on ag~eement condRion and covenart o! the Nc!e and th~s Mortgage S~ch costs charges and expenses. shail ~ be ~mmed~a?efy due a~d payab±e whether o~ ~o' ~he~e be nohce demand. attemp; to collect or su~t pend~ng The fuii amount ~ o" earh and eve~y such payment sha!i bea~ +~teres~ trom t+~e da?e tne,Eat unt+~ pa~d at the Default Rate as here~nafter dei~ned ~ A!i SUCh CGS?S. Chd~gE'S 2~d @x~nSf'S SO ~!~CU~~@d C~ ~a Cf (O~E'ihe! ~v~?h SUCh ~r~terest s~a!~. be secured by the +~@`1 Of Ih;s Mort~age ; a~d any o'he~ ~ns?rumen! secunr,g ?h~ Note ~ 8 After Acquired Property. The ben o! th~s Mor,gage w~i! ~utor-~at~ca~~y a'tach w~lhOUi fUnhBr aCt to ai~ afte~ acqu~red o~ooerty o~ whateve~ kmd !ocated ~r. or on or a;racned t~ or ~,sed or ,n'e~~~ied ro be used co^~ect~o~ w~tn o~ ;n r.he operat~on of ;he hlo~tqaged Pro~e~?y ; ' BG~K ; ~r. - ~ ~