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Home My WebLink About2468 Nortgagor covenants ard agrees w~th Mortgagee as follows t Compllance wlth Note and 11Aort~aye; 1Ahrranty of Title. Mortyagor shalt comply w~th a~i p,ov;s~ons of t~~e Note. th;s Mortgage and ot every o!her ~nst~ument secunng the Note, and w~ll promptly pay to Mortgagee the pnnapal w~th ~n~eres? thereon and all other sums requ~red to be pa;d by Mortgaga under the Note and pursuant to the prov~s~ons of th~s Mortgage and of every othar ~nSUument se:.'ur;ng the Note. Mortgagoi covenants that Mortgagor owr,s and ~s ~ndefeas~bly se~zed of the MoRgaged Property ~n fee s~mple, that the Mortgaged Property ~s iree irom all encumbrances except as noted ~n the ieya~ desc, ~pt~on above, that Mortgagor has Iawfui authonty to convey, mortgage a~ id encumber the same as prov~ded by the Mortgage. that Mortgagee may peaceably and qwetly en~oy the Morgaged Property, and that Mortgagor w~ll defend the hlortgage:~ Property aga~nst the cla~ms of a11 persons whomsoever, and that Mortgagor so warrants 2 Payment of Taxes and Liens. Mortgagor shali pay all the taxes, assessments, lev~es. I~ab,ht~es. obl~gat~ons and encumbrances of every nature ncn~ on the Mortgaged Property or that hereatter may be ~mposed. lev~ed or assessed upon !h~s Mortgage or the Mortgaged Property or upon the ~ndebtedness secure~+ hereby All such payments to be made when due and payable accord~ng to law before they become del~nquent and before any ~nterest attaches or any penalty ~s ~ncurred Irsotar as any ~ndebtedness ~s of record the same shall be promptly sat~sf~ed and ev~dence of such saUsfact~on shall be g~ven to Mortgagee. 3. lnsurence. Mortgagor ;hall keep the Mortgaged Property and the ~mprovements row ex~st~ng or hereafter erected t~e 1,'o~~~a~~i; ^r;,Nerty ~r~s~~~~ a5 ~i~ay ~ie rec.;u~reo 1r~m i~rne io f~me ~y t~tortgac~ee aga+n;i ioaS Dy fi~ie, other ~azards and cont~ngenc~es (~nclud~ng fiood hazards and related occurrences ~n the event any port~on oi the Mcrtgaged Property ~s located ~n a flood hazard area as may be ~dent~fied from Ume to Ume) ~n such amounts and for such penods as may be reqwred oy Mortgagee Mortgagor shall pay promptly, when due, any prem~urns on such ~nsurance. All ~nsurance shall be carned w~th comparnes aporoved by Mortgagee and the pol~cy and renewals thereot shall be held by MoRgagee a:xi have attached there;o loss payable ctauses ~n favor and ~n form acceptabte to Mortgagee In the event of loss, Mortgagor shall give ~mmed~ate not~ce by ma~~ to Mortgagee and Mnrtga~ee may make proof d loss ~f no?, made promptly by Mortgagoc Each ~nsurance company concerned ~s hereby author~zed and d~rected to make payments tor such ioss d!rectiy to Mortgagee instead d e~ther to Mortgagor or Mortgagor and Mortgagee ~o~ntly. Insurance proceeds or any part thereof may be appl~ed by Mortgagee at its apt~on, afiter deduchng therefrom all its expenses ~ncluding attorney's fees, e~ther to the reduc6on of the ~ndebtedness hereby secured or to the resrorat~on or repa~r ot the preperty damaged Mortgagee ~s hereby authonzed, at rts opt~on, to settle and comprom~se ary cla~ms. awards, damages. r~ghts of act~on and proceeds. and any otner payment or ret~2f under any msurance pol~cy. In the event of foreclosure o! th~s Mortyage or otner transfer d t~tle to the Mortgaged Property ~n ext~n~wshment of the indebtedness secured hereby, a!I nght. bt!e. and ~nterest of Mortgagor,n and to any insurance polic~es then ~n force shail pass to the purchaser or grantee Mortgagee may at rts opnon reqwre Mortgagor to depos~t ~nnth Mortgagee on the f~rst day of each month, ~n add~t~on to making payments ot pnncipa! and mterest, untd the Note ~s fully pa~d, an amount equal to one-twelfth (1/12) of the yearly prem~Ums fcr all ~nsurance Such deposrts shali not be. nor be deemed to be. trust f~nds, but may be comm~ngled w~ih the general tunds of Mortgagee, and no ~nterest shail be payable m respect thereof. Upon demand by Mortgagee, Mortgagor shail de~~ver to Mortgagee such add~t~onal mornes as are necessary to make up any def~c~enc~es ~n the amounts necessary ~ to enable Mcrt~agee to pay such prem~ums when due in the event of defautt under any of the terms, covenants and cond~t~ons ~n the Note. th~; Mortgage or any other ~nstrument secunng the Note to be performed or observed by Mo!tgagor. Mortgagee may apply to the reduchan o( the sums secured hereby. ~n such manner as Mortgagee sha11 determ~ne, any amount under th~s par~graph rema~rnng to Mortg~gor's credd and any return prem~~m received from canceltat~on of any msurance poi~cy by Mortgagee upon (oreclosure of th~s Mortgage 4 Condemnation. If the Mortgaged Property or any part thereof shall be damaged o! taken through condemnat~on (wh~ch term when used here~n shall ~ncluc~e any damage or tak~ng by ary gwemmen?al authonty or any other authority authonzed by the laws of the State ot Flonda or the Un~ted States oi America to so damage o! take, and any transfer by pnvate sale ~n 'i I~eu thereo~. e~ther temporanly o~ permanently. the ~nUre ~ndebtedness and other sums secured hereby shall. at the opt~on i ot Mortgagee, become ~mmed~ate~y due and payable MoRgagee shall be enUtfed to all compensaUOn awards. darrages, cta~ms. nghts of acUOn and proceeds of or on account of any damage or tak~ng through condemnaUen and ~s hereby authonzed. ~ at its op[ion. to commence. appear ~n and pr~secute, in rts own or Mortgagor's name, any ~cUOn or proceeding relahng to any condemnat~on. and to settle or comprom~se any cla~m in connecUon therew~th Ali such compensaUon awards, damages. ~ c!a~ms nghts of acUOr, and proceecis, and any other payments or rehef, and the nght thereto, are hereby ass~gned 'oy Mortgagor ~ ro Mortyagee and Mortgagee after dsduct.rg therefrom ali its expenses ~ncluding attorney's fees may release any mon,es ~ so ~ece~ved by ~t wrthout a`tecnng the ben of th~s Mortgaye or may apply the same ~n such manner as Mortgagee shall dzterm~ne to the reduct~on o` the sums secured hereby and to any prepayment charge prowded ~n ;he No:e. th~s Mortgage or any other ~ns:rument secunrg the No!e Any ba~ance of such mon~es then rema~n~ng shaA be pa~d to Mortgagor Mortgagor agrees to a execute ~uch further ass.gnments or ar.y compensabons. awards, damag2s. Claims. nghts of act;on and proceeds as Mortgagee ~ may reqw,e ~ ~ 5 Care of Mortgaged Property. Mortgagor shafl not remove or demolish any t5li~idirg or other property forming a part ; of the PJlortyaged Property w~thout the wr.tten consert of Mortgagee Mortgagor shali not perm~t, comm~t. or suffer any waste. ; ~mpa~rment or deter~erat~on of the Mortgaged Properiy or any part the~eof, and sha~l keep the same and ~mprovements thereon & ;n good cor,d~Uon and repa~r Mortgagor shall noUfy Mortgagee in wnUng withm five (5) days of arry ~r~ury, da.mage. or ~mpa~rment ~ o' or eccurnny on the Mortgayed Property Morgagee may. ~t Mortgagee's d~scret~on, have the Mortgaged ~roperty ~nspected f at any t+me and Mortgayor shail pay all costs ~ncurred by Mortgagee ~n execuUng such mspect~on. ' 6 Mortgagee's Right to Malce Certain Payments. In the event Mortgagor (a,is to pay or d~scharge the taxes, assessrnents. ~ lev~es. hab,ht~es, obl~gabons and encumbrances. or fiads to keep the Mortgaged Property ~nsured or to del~ver the pohc~es. ° prem~ums pa~d. o~ fa~ls to repa~r the Mortgaged Property as he;e~n agreed. Mortgagee may at ~ts opt~on pay or d~scharge ~ the taxes assessments. lewes. hab~ht~es, a~d obl~gations and encumbrances or any part thereot, to produce and pay for such ~ ~r,surance or to make and pay tor such repa!rs Mortgagee shall have no obhgat~on on ~ts part to determ~ne the vahd~ty or necess!ty o` any payment thereof and any such payment shall not wa~ve or a'fect any opt~on. I~en equ~ty or nght of M~rtgagee ur•der or by v~rtue of th~s Mor,gage The full amount o! each and every such payment stiall be ~mmed~a!ely due and payable and shall ~ar ~nterest from the date thereoi unt,l pa~d at the Default Rate. as here~nafte~ def~ned, and together w~,h such mterest. ;ha~i be secured by the hen ot th~s Mortgage Noth~ng here~~ contamed shaU be construed as reqwnng Mortgagee to advance or exp~nd mon~es for any af tr~e purposes menboned m th~s paragraph 7 payment of Expenses. Mortgagor shall ~;ay aIi the costs. charyos and expe~ses. ~nclud~r~ reasonable attorney s tees whether ~ncurred at tnal or appellate Ievei. d~sbursements and cost of abstracts af t~tfe. ~ncurred or pa~d a; any Ume by t~lortgagee due ro the fa!lure on the part of Mortgagor promptiy and futiy to perform. comply w~th and ab~de by each and every sUpulauon. agreement. r_ord~U~n and covenant of the Note and ihis Mortgage Su~h costs, charges and expenses. shail ~ be ~mmed~ately due and payable. whether or not chere be not~ce demand, attempi to coliect or swt p2r~d~ng The iuli amount r of each and every such payment sha!I bea~ ~nterest trom the date thereof unt~l pa~d at the Default Rate. as here~nafter defined ~ All such costs. charges and expenses so ~ncurred or pa~d toge?her w~th such mterest. shall be secured by the hen of th~; Mortgage ~ ar,d any other instrumenl sec~nng th? Note s 8 After Acquired Rroperty. The hen of ,h~s N~ortyage w~l~ automat~cally attach. w~thou! fu~her act to atl atter acqwred property of whatever k~nd located ~n or on or attachec' to. or used or ~ntended to be used ~n connecbon wrih or ~n the operabon of the Mortgag2d Properi~ ~ ~ ~ ~p~~ I~ PAGE~4V~ . = E i.~~ -