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Home My WebLink About1671 ~ tn~s !~~ur!yaye or the Nole co~~ll~cts .v~th a~,pi~cable ~e~. such co ~tlict shall not affect o~ner aro~~s~o~s ot ir.~s rYio<<~a9e o~ ~nz rvoce ~n~cn ;:an r,~ r,~ven eYicct .4+thou! the confi~ct~ng proti~sion, and to th~s er.d th2 prorsions of this Mortgage and the tvule are deciared to be severable As used , '~E?f@~fl, -~CO$!$ , @x~~~15@S di1lJ ~~dltU~~1Cy5 ~er5~~ IfiLiUlyC dll Su+T~S tu the 8xte~'it itOt N~Ghiuited Gy dpyiiCauiE ~aw o~ +~m~ted r,ere;n. ~ 14 Borrower's Copy. Borrower shall be turn~shed a conlormed copy of the Note and of this Mortgage at ihe t~me of execution or after ~ rp~prdation h2r@O~ t5 Rehabilitation Loan Agreement. E3orrower shall tulf~ll all of Borrowefs obl~gat~ons un~ier any home rehab~i~tat~on, Improvement. ; ~epair, or otner toan agreement which Borrower enters ~nto v~~th Lender Lender, at Lender s opLon, may requ~re Borrower to execute and del~ver to , Lcnder. ~n a form acceptabie to Lender, an ass~gnment ot any rights, cla~ms or defenses which Bonower may have against parhes ~sho suDply ; abor, matenals or serv~ces ~n connechon with ~mprovements made to the Property. i' i 16. Transter of ihe Property. N 8oirower se1ls or transfers alt or any part of the Property or an interesl th~re~n, exclud~ng (a) tt~~e creation ~ ,~f a l~e~i or encumbrance subord~nale to th~s Morigage. (b1 a trar}sfer by devise, descent. or by operaGon ~f ~aw upon the death of a ~omt tenant. or ~ci the grant of any leasenold mterest ef three years or less not coMaining an option Io purchase, Borrower shall cause to be submitted information ~equ~red Gy Lender to evaluate the transferee as ~I a new loan were be~ng ma~e to the transferee. Borrower w~ll contmue to be obl~gated ur,der the ; Note and th~s Mortgage unless Lender releases Borrower in wrlt~ng If Lender, on the bas~s of any ~nformat~on obta~ned regarding the trans(eree. reasonably determ~nes that Lender's securrty may be im~ , ~~a~red. or that there ~s an unacceptable I~kel~hood of a breach of any covenant, or agreement in this Mortgage, or if the req~~red intormation ~s not subm~tted. Lender may declare all of the sums secured by th~s Nlortgage to be immediately due and payable. If Lender exerc~ses such option to ac~ celerate. Lender s~all ma~l Borro~ver not~ce of acceleraUOn In accorda~ce with paragraph 12 hereof. Such noUCe shall provide a period of not less than 30 days irom the date the notice is mailed or detlvered wlthin whfch Borrower may pay the sums declared due. If Burrower fails to pay such ~ums pnor to the exp~rahon of such perod. Lender may. w~thout further not~ce or demand or. Borrower. ~nvoke any remed~es permitted by paragraph 17 hereof. 17 EveMs of Detault; Acceleration. It ~s further covenanied and made of the essence hereof lhat ~n the event tha! 6orro•.v~r becomes ~ ub~ect to banhruptcy proceed~nGs. or ~s 45 or more days del~nquer.t ~n the mak~ng of any payment due to Lender unCer the Nole or th~s Mortyage. ~ the Preperty is not insured as requ~red here~n or it Borrower is in d~!ault under the Sernor Mortgage or Sen~or titortgage fVote. or ~f Lender learr~s ~~~:+t a~~y representat~on or sarranty b~; 6orru;.er reqwred by ;he Note was talse at the t~me rt was made. or Borrcwer records and sends to Lende~ a ~.~t~ce l~m~hng future advances under th~c Mortgage pursuant to Sect~on 697.04f 1f1b1 of the Fiorida Statutes. then Lerder may. a! ~tsopt~on. declare t'~c enhre outstandmg baiance ovnng un~er tf~e Note and th~s Mortgaye due and payable w~thout not~ce or demand. and Mort~agee shall have tne ~~i;ht +rnmed~ately to ~nst~tute proceed~ng~ to entorce !he collect~on of all moneys secu~ed hereby and~or to foreclose the i~en hereof t8. Borrower's Right to Reinstate. Notw~thstand~ng Lender's acceterat~on oi the sums secured by this Mortgage due to Borro~ver's c~reach. Borrower shalt have the nght to have any proceed~ngs begun by Lender to enforce this Mortgage d~scontinued at any t~me pnor to eMry o! a ;udgmem enforc+ng th~s Mortgage ~f: (al Borrower pays Lender all surt~s which would be then due under this Mortgage and ;he Nole had no ac- .eierat~on cccurred: Ib) Borrower cures alt breaches of any other covenants or agreemems of Borrower conta~ned ~n this M~~tgage; Ic1 Borrower i .~ays all reasonable expenses ~ncurred by Lender ~r enforcing the covenants and agreements af Borrower contained ~n this Mortgage. and ~n en- rc.rc~ng Lender s remed~es as prov~ded in paragraph 17 hereof, ~nclud~ng, but not I~m~ted to, reasonabie attorneys' fees and court costs: and (dl Bor- ::•:er takes such achon as ! ender may reasonably require to assure that the I~en of this Mortgag2. Lender's mterest ~n the Property and Borrower s ~ bi~gat~on to pay the sums secured by thls Mortgage shall continue un~mpa~red. Upon such payme~t and cure by Borrower, th~s Mortgage and the ~ ~t~gat~ons secured hereDy shall remain in full force and e((ect as ~f no acceleratlon had occur+ed. 19 Assignment of Rents; Appointment ot Receiver. As add~honal security hereunder, Borrower hereby assigns to Lender tre rents of ?re Prcperty, provided that Borrowe~ shall, prior to acceleration under paragraph t7 hereo! or abandonment of tne Property. have the rlght to col- •~r~t and reta~n such rents as they become due and payable. Under acceleration under parag!aph 17 hereof or abandonment o! the Property. Lender shall h,e ent~tled to have a rece~ve~ appo~nted by a ~ ourt to enter upon. take possess~on of and ma~age the Property and to collect the rents of the Porperty mc!udfng those past c+ue. Atl rents col I ~ _ cted by the rece~ver shall be applted (irst to payment of the costs of management of the Property and co!lection of rents. includi~g, but nut lim~ted f : rece~ver s fees. prem~ums on rece~ver s bonds and rPasonable attorneys' fees. and then to the sums secured by this Mortgage. The receiver ~ ~nal! be I~able to account only for those renis actually rece~ved. ~ ' 20. Attorneys' Fees. As used ~n th~s Mortgage and ~n the Note. "attorneys' fees sha!I inciude attorneys' fees. if any. wh~ch may be ` :::arded by appellate court. i 4 2t Fuiure Advances. Any sum or sums advanced by the then ho?der of the Note to the then owner ot the Property at ar.y time w~th~n E ~::enty ~20) years from the date of th~s Mortgage. vnth interest thereon at the rate agreed up~n at the time of each addltionai loan or advance. ~v~ll _,~nsUtute a portion of. be equally secured w~th, and have the same pr~onty as ihe indebtedness secured hereby and be sub~ect to a!I cf the terms ~ ~nd provisions of this Mortgage. whether or not such additional loan or advance is evidenced by a promisso; y note of the Borrowars and whether or ~ ~~~ci ~dent~hed by a recital that It ~s secured by thls Mortgage: provided . h~wever. ,he aggregate amount of principat ~ndebtedness outstanding a? ~ a^y one hme and secured by thls Mortgage sha!I not exceed an amount equal to tw~ce the original principal surn of the Note. The provisions of th~s ~ Paragraph appty regardless ot whether any such advance is character~zed as obligatory or opiional: but noth~ng conta~ned ~n this Paragraph by Uelf obi!gates Lender ,o make any additional loans or advances. 6 ~ 22 Interest Rate Limitation. Nolvr~ths?andmg a~y prov~s~on of th~s Nlortgage or the Note to the contrary, the parties intend that no pro ~ .>~on of tn~s Mortyage o+ the Note be mterpreted. construed. appl~ed or enforced so as to perm~t or reqwre ,he parment or collect~on ef interest in ~ ~cess of the maR~mum rate as hereafter may tre permitted Dy the 1av: appl+cable to th~s transact~on ~the Max;mum Perm~tted Rate 1 It. ho~rlever. ~ +~~y such ~rov~s~on ~s so ~nte~preted. censtrued. applied or enforced. then the parties ~n;end i~l that such pro~ns~on automat~cally shall be retormed s` nunc pro tunc so as to requ~re payment only of mt~rest at the Max~mum Permitted Rate. and li~! ;f the holder of th~s Note has recewed mteres! ~ ;~yrnents ~n excess of such Max~mum Perrr~~tted Rate. that the amount of such ezcess b~ cred~ted nunc pro tune m reduchon of the p~~ncipal ~ +~~~cunt of th~s obt~Gahon toyether v:~th ~nterest at sucn hlax~mum Pe~m~tted Rate ~ RE~UEST FOR NOTICE OF DEFAULT AND FORECLOSURE UNDER SENIOR MORTGAGE Bcrrov;er and ! enCer request ttie holde~ of !he Sen~or Mortgage to g~v~ Not~ce to Lenoer, at Lender's add~ess set forth on page one of this '.tortgage. of any deta~~t under the Senior Mortgage and of any sale or other foreclosurQ action. IN WITNESS YJHERE OF. Borrower has executed th~s hlortgage. ~ i ~ € r ~ Y ~ F 7 `s BOGK615 PACE~U?1 - - - - , ~.~,v. ~z~~ ~ ~ ' ~.,~o~ - _ ~k~