HomeMy WebLinkAbout1505 u~.:~~.,:..~~, ~i~.: auy' uti.~i ~u~reasr i~•~~uirr~l b~' the murt~;,~~;e~•. un ~lwz•11;u~;, rL~;iLI~~ for aurh Lruadeneci rncPrage - rrevt+~~1, s~:ti•_•.'e:, L4at
_.:c!i :..s. : be ir .,,~,.,~~~~t ~ulficii•i~t to ruiuph• u~tth any ~~-i~uu:ance re~lwrrn~e~its co~•ering saiuc un~irr dir laus uf tl~r ~tate of Fl~rida,
au~! p~o~.iiir~l furth~~r t}~zt tl~e policy ot policic•s shall be writtrn in a co~npany' or e~n~pai?irs and thtuugh sa agency satisfsctory• to the \!urt-
gagee and th~t suid pulic> ur polici~•s sh:~ll F,c• hrl~! by the \lort~;agee, st~all be in a fom~ satislaetory tu We \lertb~gre, aud shall contain a
stau~lard mort5a~e cl.~u,~• iu f:nor of arnl in a furin accrptahle to the \iort~a~;ee; and in the e~•ent any suui uE money be.mue; p;~}.ible unde~
.iny ~uch policy ur poL~u~s, t}~.~ \tortt;;~~;~•~ shaS! ha~e the opt~an tu receiz-e a=~d a~N2y ilir ~ame on aecuuut ot Uie indrhte~iness t~rrrby ~eeured,
or to~ rinit tf~r \1urt~;:~gur to rrcc•i~r aml u~r it, or ;~ny part thrr~rof, for othc•r purpusrs, without tlter~b)' ~vai~ing or impairiug anp ~yuity, lien,
ur right un~lrr aus by ~irt~u• of thi~ inorttia~;r; an~l in the r~rnt tlie \tart~a~;ur does not comply with this cp~•rnunt, the ~tort};a~;rr uiay place
and pay for ~uch insur,irue, or ar»• p,~rt tlirr:~of, H~itk~out ~~•aicin~; or affretiu~; :h~ optiun to foreclose, or any ri~ht hrrrunder, anil d?e f~~ll amount
of eact~ :iud c~~r~y ,uch pa~iii~~ut shaU l~e i~uni~Yl~atr-h• ~iuc uu~l pa>•able, ~r~~! shall tx~ar iuterrtit fran thr date therrof until p~iJ at tLe deEault
rute pro~i~lr~l iu ~aid nc~tr .~ud fo~rlhrr ~vith su~h interest ~h;?!1 1~e Srettr~Yl by die lien of this mort~;ake. l:~surance co~~rrint; thr prril of flood
~ia~na~~- si~.~l! 6~• ;u rr~~uin•.l by the Nr~ler:il lli~; ~t~~r Yrule~ction Act of 19~3, or as as~ier~drd, an1 nwctgagor co~a•nants ancl agrrrs to co~nply
in all r~~~pc~cts ~vith t.'ic pru~ i.iuus thf•rr~~E.
~fl~,~t n~urt~a~~~e ~u.~~, xt :n~~~ ti;ur d~iriu4 t}u• mort~a~;e tenn, and in its discretion, apph• for rrurK<~l uf mortt~a~;c ~uara~~t~• inuiranc~e
v~rriu, thr ~n~~+t:..,ce r~.•<nte•~l i~~ t1~r a»~l~~r.i~n~•~! on r~rn date her~~~ti~ith, pay the p;emiu~n due by reason tt~cr~nf. ;;nd reyuim rep:~yment
lry t6~~ un~l~•r.i;;nrd of snch :uuunnt~ ;u arr a~l:anc~•~i In• said mortgagre. In the event of failure h~• t~~e undecnsgi~ed to repay said amounts to
:ai~l ~noitcaLC<~. su~•h failuic• ,h.~ll l~e c~,n.icirrr~l ~Irf;~ult, an~l all pro~isinnc of th~• nnte :~nd n2ort~age with rr~;:rd ta d~=fault >t~all i,e appli-
c.~Ll~•.
~ 'lu p~•:init, cu~uiuit ur .utf~•i uu ~~:i~tr, iiup.~irmrs~t or deteriorati~n of said proprrty, or an~• part thrreo(, an~l upuu thr failurc oE the
uwit~~:«~~r tn k~•~•p th~• L~ii1~!in~, on siii~l pruperty in ~ual rnndition of r~~p~ir. tl~r ~iort~aRee ma}• ~l~•m:md the iii~n~rdi:ite n•pair uf said 6uild-
inc•, ur an i~~cr.•,i,r ii~ tl~r ,ui~uunt c>f s+~cnrih~, or t}te :illllltYlliilP repayment of ti~e drUt hercl~y securc~cl and the failure of tf~~~ ~torts~;~~or to com-
ph ~a-ith s:~icl cle•in;~n~! uf th~• ~l~~rt~:«~~~~ for prri~~l uf tt~i~t~• i30) days, shall constitute a breach of ifiu +nort~a~e, and, at the optiun of the
\tu~t~,itir~~, iinmrili;itrl~• in:iGirt~ th~• ~~ntirc~ :unuunt of princip~l and in[erest ~~ercli~~ securPC~, 8nt~ iu~ntt~iatc~y ancl «'ithout n~tice~, d~e ~1lorth~gee
ru:~y imtitut~~ pr~x~~~•~ii~~t; tv fcn~~~lu~~• tFii~ nturtta~e and apply for the appoint~nc~nt of a Ree~ti~~er, as herein.i[ter prucic;cYl.
h. 1~o p~~~l~~rns. ~~»ui~h~ ~~~it:7 .roil :i{,i~~~~ b}• e.iil~ :tncl ecrr}~ stipulation, agreenzent, corditiun and co~rn:~ut in ,:~i~l {~r~ani.•~~r. uote an~l ~leetl
.~•t forth.
In tl~e r~rn! tLr i{~ris~li~tiun ~~f thr l'. ti. lli+trict Court shall Ue im•ol:cd b~• or a~ainst tlx• ~twt~a~;or »nd~~r ary of tf~r pru~i~iuus of the
F'~•iie~ral liankrupt~ A~ t, such .~ctinn, ~ti•lir•t}u•r ~•uluutai}• or in~•oluntary on tfie part of the \lortgaqur, shall autoni:+tically, ~cithmrt no!im, ac-
cc~lrratr th~~ inatu:ih• af all ~iuuti of n~nney I~c•n•in deseri4>ecl and seeur~~d, and t}ie s:~me shali ihereupon hecoiue due and pacahlc fortl,w;th
a. iull.~ :u if th~• said ae~re~;.itF sams nf ~uunr}~ K•r>~e ori~:nally stipulatcYi to be paid on such date.
ti. 'Co d~~li~rr to ~:iii) \1ortCa~;cr, on or before \tarch 15th of each ~•ear, tax receipts e~•idencinQ the payuient uf all law•fully i~nposecl taxes
fur th: pr~•crdin~ calr•u~{,ir ~•~~ar, :~nd to ele~li~er to said ~fortga~ee, ret~eipts e~•idencing the payment of all licns for public i~npro~~~•mrnts w-ithin
nirn•t~• +~)0) da~•, aftrr the sam~ st~all hc•come ciue and pa}~able, and to pay or discharGe within ninet}• (90) daps after due date, any and all
~u~~~muu•id~l ~e~i<~s that ~nay~ h~• ~nade• on tiie u~c+rt~;:iKeil propcrty, on thi~ n~ort~*x~e or note, or in any other ~vaq resultin~ tr~m thr \lort};a~!e
~n~l~~htc~ilnr.:; mcure~l h}• this uiortta~r, aml if tliis condition be not complied w•it6 and perfomied, said mort~a~ce may pa~• such sum or sums
~til~i~•h ch:ill hrco~ne p;~rt nE th~~ dc~ht ,rc urcd hy this murt~;age, and shall i~ear i~terest at thc default ratr pro~(dfYl i~ti said p~o~,ii~son• note
j~,~c.~hlr inonthl~• ient~l pai,i ~~r ~:iid ~nort~;at;~~e rnay elect thAt Sai<~ moftKa~e debt thereupon become duc• and p,i~•,~hlr fo:th~tith.
It is furtLe~r iuc~•u:~ut~•~1 :u~~l as~m~•~l 1~\" 511~~ p,iftlPS that in the e~ent of a suit fx~inK institutecl to forecloct~ this ~nu~t~a~e, th~~ \tort};a~;ce
~Lall Lr cntitl~~d u~ apph• at am• tin;e p~ndisr, sucfi toreciosure suit to tiie court ha~•ing jurisdiction there~f for thc a>~uiutui~•nt ~f a rc~~Y~i~•er
uf :iil :~u~i >iir;ul.~r th~• ~~~urt~;:~~rd prup<•rt~-. :iud of all thr rents, income;, profits, icsues and re~•~nties thc•reoE, fru~s~ •.~•~~:tt~ek~~t•r s~~urcr dt•ri~ed;
:,rnl tl~c•ri~upon it is }~cre~h~~ e~pre,~h• co~~t~nant~~d and aKreed thtd the court shall forthw~th appoint a recei~•er of ~aid tnnrt~a~;rd pruperh~, all
,~nd >in~ul:ir, ;incl uf sn~h rt~ntc, incu:nrs, profits, issues and revenue ti~emof, from whatsoe~•er scurce cleri~~e~, with the usual pow•ers and
~luti~ . nf re•. ~•i~e•rs in Iikr cas<~s and >uch appuinhnent sh:?11 he made h.~ such court as a matter uf strict richt to the \torts;.ieee, its s~iccrssors,
I~•~al rcpre~ce~utati~~•s ar atisitim, :u~~i ~s•ithout r~•ference to the adP~~uacy or inade~~nacy af the ~•alue of the propc~rty hereb}• mort~aged, or to the
~~~l~rnc}• nr insuhi~ncy ~f the \1ortK~~or, and tLat su:.•h rent, p;ofits, income, issu~~s and re~~e:~ues shall t~e apptied by~ such recr°i~•er to the pay-
' ~ne~t~t af th~ ~uurtc;aGe indebtedness, co~ts and char~es, ~ecordin.~ to the order of such court.
1{i. IF alj or am~ part of the propc•rty cir a lc•~!al or erluitable intere,t therein is sold or transfe~red by mortea~or w~ith~~ut inort~acee~'s prior
rittt•n cantient, incl~t~lin~ hiit unt Uniitecl t~ the ore~cutiot~ of an agreement foT d~l, but exdudinG ( a) the creatic~n oi a lien or encum-
I~ranc;~ suhurdiu:~te to thi~ rncirtLa~e, ( b) the creation of a pnrchase rnonPy s~curit}• interest for housc hol~l aQpliaucE~s, i c} a transfrr by
iu• or de~ce~ut, or hy ope•ration of l:~w upon the death of a joint tenant, or ( d 1 die t;rant of any lcasehol~l i:iterrst of threc ~•ear. or less not
: nntainin¢ :in option to purcha~«•, ~nort~;aue~ ma}•, at its option, declare all ehe sums sec~uecl by this mort~a~*r to br- ~nimr~cliateh• due and
payahle. '~tort~a~:ee sliall ha~•e~ ~•ai~~d such eption to accelt~rate if, prior to the sale or transfer, mortAagee anil the pers~n to w•hom the~ property
is to be sold or trancferred reach at;ree~ne~it in w•ritin~ t}iat the credit of such persor~ is satisfactory to rlortga~ce and :hat th~ inter~~st papable
on the sums secured bv this rnorteatie shall he at such rate as ~iortgagtx shall reqaest. If btort4~4ee has w•ai~~ed the option to acce,i~rate pro-
~-ideci in this paragraph, and if \tortgaqor's successor in interest has executed a written assumption a~reement accepted in writiu~; by ~tort-
.a~ee, I~tortgagee shall release \tortgigor fron~ all oblieations under thic mort~;age and t}~e note securecl hF•reb>•.
~ I l. Th,zt in the c~~ent the premises herrby m~~rt~aqed, or any part thercof, shali be condemned and taken for public use under the power
~ r~nin~~nt domain, the itort~a~ee shall ha~~e the ri~;ht to demand that all damaces au-arded for the takin~ of or damages to said premises
~ ~hall he paici to tht~ \(~rtgaqec up tn ihe amrnint then unp:tid on this mort};a~e and at the option of the ~tort~at;ce may he applir~cl upon
ti~«~ paprnrnfc last payable thrreon.
i
; 1_'. Tfie inortua~or hinds himself nnt to erect or pe~Rnit to be erectcd any new huildings on the premises herein mortc;aRed or to add to
{ ~~r pt~nnit to b~~ adelt•cl to any of tl~e f•sistin~ impro~•ernents thereon or make any changes or alterations in said impro~•ements which materially
< < I~:~r.~r the~ sa;nf~ ur the uce Lhc•re~~f, .a~itt~o~~t the a•r~tt~~n consent of the Aiortka~ee, anc~ in the event of anv ~iolation or attempt eo violate this
~ ~t;~~nlation thi, fnurtcae~ anel all sums secured hereb>• s}iall immediately become due and coUecrible at the option of the '~tortqagee.
~ 13. It is sprcifically artreed that time is of the essc nce of this ccntract. The failure of the ;~iort~agor in one or n~ore in~tances to insist upon
~~rict prrforin;~na• or uh.Fnancr of one or morc~ of thr covenants or conditions hereof, or to eaercise any remedy, pri~-ile~;c or option herein
r ~ onferrec] L~pon or resc•;n~~c~ to the \tortca~or, shall not op~rate or be construed as a relinyuishment or wai~•er for the futaire of such co~-enant
P ~~r condition or oE the ri~6t to rnforce tl~n same or to exercise such pri~•ileKe, optian, or remed}•, but the same shall continue in full force and
~ ~ ff~•ct. The rcc.•ipt b}• the :~tort~a~:ee of a monthly payrnent or payments or of any other payTnent re~~uired to t~ made bv ihe ltortRa¢or, or
~ .~r~v part thereof, shall not be a~ti•aiver of any other additional payments ~r amounts then due, nor sfiall such receipt, though with knowl-
E r~lec~ of the breach of am~ co~~enant or conditic~n hereof, operate as or be deemed to be a waiver of such hreach. \o wai~~er bv the ~tortgagee
~ any af the pro~~cions hercof or any of ihe ?~tortgagee's rights, remedies, privile~es or options hercunder shall be deemcil ta ha~~e bern
~ ; ~clc~ ~inless ruade by the ;liortgagee in writing.
14. If foreclosure procecdin~s oE any second mortgage or second trust deecl or anv juni~r lien oE am~ k[ad c4~~u1~1 h~ instit~rtcd, the \tort-
f na~ee may, at its op6on, immediately or thereafter declare this mortga~,~~ and the inde}~tedness securecl h~~~eh~• du~ aud pa~:ahle forthwith, and
~ at its option proceed to foreclose this mort~8ge.
1S. To th~~ ~•ztent of th~• indi•htt~ilne;s of the \tost~a~;or to the \1ortLa~;ee described herein or se~cured he•rch}~ the ~1ort~;~Kce is hereby
` ~~i}>roe~ab~cl t~r th~~ lie~n or lif•n~ an~i t~ thr richtc ~f th~~ ok-ners and holders thereof of each an~l P~~erv mortcace li~~n or uthrr ir.cuml~ra~~cr on the
~ land descrihrcl h~r~•in which i. Paie1 an~U~~r s.itic4ieci in whoie or in part out of the proceeds af the la:m dc•scri}uYl Lrre•in or sc~cure~d hrreby,
~n~I tli~ re•.p~•cti~•~~ li~•n~ t~f s;!ie{ nu~rh,at~~•.. lirn~ or other incumbrances chall be anc? the same and each nf tf~rm iit~rrh~• is prect~n~ed anci shall
~,ac~ to and Ir<• hel<l ln• the \tort~a~ee herein as securiiv for the indebt~•dness to the'~tortea~;ee herein descrihed or he;e{~y secure>d, to the same
~~ztent that it ~~~uulcl ha~•r bE~en pres~n~•d ar.d would ha~•e been passed to and bc~en held by th~ ~iortQaqce had it hecn duly an:l reRularly
~ ,~~sicn~•d, tran~f~~rre•cl, sr~t o.~e~r and ~ieli~~r•re•<l tmto the Mortca~ee by separate de~d of assienment notw:chstandin¢ the Eact that the same may
g h~ tatis(ir~l and cancelleil of r~c~rd, it hr~ine the inter.tion of the partiFS h~reto that the same w~ll he ~atisfird and cancelled of record by the
h~,l~lers tht~reof at or ahout thr time nf thc rcrnrdinQ of this mortgage.
16. The ~fortgagor w~ll pay or reirnbtirse the !~fortgaQee for all reasonable attomey's fees, casts and e~penses paid or incurreci by the',ltort-
ea~ee in any action, proceediae or dispute of any kind, wiiet},er on appeal or nat, in which the !lfortgac;ee is sen~~c1 Kith legal process, is made
' a party or aQpearc as part}' plainti{f or defendant affectins; the note, this mortqage, ifortga~or or the mortRaRed property, includin~ but nat
limitc•d to thc for~clowre or other enforce•mert of this rnortgaKe, any condemnation action in~•ol~~~Q the mortKaQecl property, any action to
proteet the s~~curity her~of, or ~m• proc<~eding in probate or hankruptcy; and any such amounts paid oT incurred by the btort~a~ee shall be
arlded to th~ indebtcdness, shall hear interest at the c~efa»it rate spec'sfied in the nate from date of payment, and shall be secured by the lien
' nf this mortgage.
! 1~'hf•n an}• a~n~,nnt nf m~~n~~v tn L~~ pai~1 hy the \tortta~or to th~ \torteaKee under the terms hereof shall be in deEault, or shoujd the
\t~~tttacor il~~(a~~lt in an~~ of th<~ ~~tficr t~rr~~s, pro~'i~i~mc ~r conditions nf this ~tertRaRe, th~n and in that ca.ce thc 11ortQa~ce shall have the
~i~ht. ~~ith~~nt n~~ticF t~ th~~ ~fnrtLa~,nr, 1~ c~l~ect and recei~~F from any tenant nr lestee of saic~ mort~agee~ premisPS ii~e rents, issues and
S ~~-~~fits r~f th~~ re•,~1 c•.tate• {~rrr}~t• ntort~~at~~l ;tn~l the impro~~ements therron. and to ~i~•e proper r~ceipts and ac~~uittances thcrr[or, and aCter
4 ;~v~ in~ a!1 cominis5inr,c of :~m n ntal a~~~nt c~~ilc~ctint, th~~ c~mi~, ancl anv r~~asonal~l<• attomev s fees an:l other necessary expenses incurred in
~w ~~11r•ctin~ c;~,n~, t~~ :~~,ph• th~ procr-ei't~ of cn~h collections npon an}~:nd~};t~~lne•ss, obli~ation nr liability, of the ~torts;a~or hereundes. The
~ ri~~ht firante,~l the \i~rt_,c~~~~ un~l~r this p,~,-a,raph sh;~U L~~ in addition to. ancl shall not limit or restrict, any other riqht or ri~h~s granted the
€ \t~r.tCaer•e~ in tliie \1ort~ace•.
j~ I!i. If thr• \lnrtcaenr~ at th~ tin:~~ ~f in:iki~~~ ihis ~tortxa~;e subse~iuent theret~ take out ]ife insurance designatinR the ~lortgagee herein
l~~~n.~fic~,in• ~~ith a c•rnn ~in i ro.,~~l I,~ thc :tor~acce or assi Lcies to the I~tort aqee fot the u se of securin the mortAa~{e loan
1 . c~ 5'~rP ~P~~'~ R. n mo g
i;- ~~~tn~ sF~cu:c•~1, tt~~~n tt~~ \tnrt~;:«;rt• shall ha~~~ thi~ ris;ht to pay any premium accruing under said policies, and all sums so ezpendecl shall be
~~l~ie~~ tn an~l h~~cn~n~ a part nf th^ prin~~ipal inclr}rte~lness si~cured by this ~tortQa~e and shall be paid hy the ~tortgaRor to the !~iortgagee
' ,r, t~c~~he~ e~~u~l c~ns~cnti~~~ mont}~ly installm~nts, ,he iirst montl~ly installment to be paid as a part of and in addition to :he monthly payznen!
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