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Home My WebLink About2480 Mortgagoi covenar~ts and agrees w~th Mortyagee as foilows t Compliance with Note and Mortgage; Warranty of Title. Mo+tyagor shan comp~y w~!h al~ prov,s:ons ot the N~!e. th~s Mortgage and of every other ~n;uument secunng !he Note. and w~ll p?omptly pay to Mortgagee the pi~nc~pal w~th ~nterest thereon and all othe~ su~ns requ~red to be pa~d by Mortgagor under the Note and pu~suani ro the prov~s~ons of th~s Mortgage and ot eve?y othe< <nstrurnent secur~ng the Note Mortgagor covenants mat Mor?gagor owns and ~s mdeteas~bly se~zed of the Mortgage~ Property m fee s~mple that the Mortgaged Property ~s tree +~om ail erx;umbrances except as noted m the !egal descnpUOn above, that Mortgagor has Iawtul authonty ro convey. mbrtgage and encur*mber the same as prov~ded by the Mortgage. that Mortgagee may peace2bty anq qu~etly en~oy the Mortgaged Property, and that Mortgagor w~11 defend the Mortgaged Property aga~nst the cla~ms ot alt persons whomsoever, and that Ivtortgago~ so warrants 2 Payment of Texes and liena. Mortgagor sha~t pay a!i the taxe~, assessments. levses, +.~ab~~SUes, obhgat~ons and encumDrances of every nature now on the Mortgaged Properiy ~r that hereafter may be ~mposed, lev~ed or assessed upon th~s Mortgage or the Mortgaged Prope~;y or upon the ~ndebtedness sec~red hereby All suct~ payments to be made when due and payab~e accord~ng !o law before they become del~nquent and before any ~nterest attaches or any penalty is ~ncurred. 4nsofa~ as any ~ndebtedness ~s of record the same sha?1 be promptly sat~st~ed and ev~dence of such sat~sfact~on shall be g~ven to Mortgagee. 3 ins~rance. Mortgago~ shatl keep ;he MoRyaged Property and the ~mprovements now ex~st~ng or hereatter erected on the Mortgaged Property ~nsured as may be requ~red from t~me to t~me by Mortgagee aga~nst loss by ~~re, o!her hazards and cont~ngenc~es (mciud~ng tlood hazards and re~ated occurrences in the even? any port~on ot the Mortgaged Property ~s located in a flood hazard area as may be ~dentfied from t~me to t~me) m such amounts and for such per~ods as may be reqwred by Mor,gagee. Mortgagor shati pay promptty, when due, any prem~ums on such ~nsurance All insurance shaU be carr~ed w~th compan~es approved by Mortgagee and the pol~cy and renewals thereot shall be hefd by Mortgagee and have attached thereto loss payabie clauses ?n tawr and m form acceptable to Mortqagee In the event ot loss, Mortgagoa shal! g~ve ~mmed~ate nobce by ma~l to Mortgagee and M~rtgagee may make proof of loss ~f not made promptly by Mortgagor. Each ~nsurance compa~y concemed ~s hereby author~zed and d~rected to make payments for sueh loss d~rectly to Mortgagee ~nstead d e~ther to Mortgagor or Mortgagor and Mortgagee ~o~ntly Insurance proceeds or any part thereof may be a~pl~ed by Mortgagee at ~ts opt~on, after deduct~ng therefrom a!4 ~ts expenses mcludmg ariorney's fees, e~ther io the reductson of the mdebtedness hereby sec~red or to the restorat~on or repa~r o! the preperty damaged Mo~tgagee ~s hereby authonzed. at ~ts option, to settle and comprom~se any c~a~ms. awards. damages, r~ghts of act~on and proceeds, and any oiher payment or rel~ef under any ~nsurance po4~cy. In itie ever~i of foreclosure ol tn~s Mortyage or other transfer ot t~tle to the Mortgaged Property ~n ext~r~gu~shment d the mdebtedness secured hereby. all r~ght t~tle, and ~nterest of Mortgagor ~n and to any ~nsuran:,e po~~c~es then ~n force shall pass to the purchaser o~ grantee Mortgagee may at ~ts opt~on reqwre Mortgago~ to depos+t w~th Mortgagee on the I~rst day of each month. ~n add~t~on to mak~ng paym~nts of pnnc~~al and ~nterest. unt4; the Note +s tuily pa~d. an amo~nt equal to one-tweifth (ttt2) ot the yearly prem~ums tor ali ~nsurance Such depos~ts shall not be. nor be deemed to be. trust (unds. but may be comm~ngled w~th the general funds of Mo:tgayee. and no ~nterest sha~~ be payable ~n resp.°ct thereof Upon demand by Mortgagee. Mortgagor sha~l de~~ver to Mortgagee su~h add~t~ona! mon,es as are necessary ta make up any def~aenc~es +n !he amounts necessary ?o enable Mortgagee to Fay such prem~ums when due In the event of r~efault under any of the terms, cove~ants and cond~t~ons ~n the Note. th~s Mortgage o{ any other ,nstrumen? secunng the Note to be performed or observed by Mortgagoc Mortgagee may appty to the reduct~on of the sums sec;ured hereby, ~n such manner as Mortgagee shall determ,ne any amount under ' th~s paragraph rema~n~ng to Mortgago~'s cred~t and any re!um prem~um r~;e~ved from canceilat~on of any ~nsurance pol~cy by ~,~ortgagee upon foreclos~re of th~s Mortgage 4 Condemnation. If the Mortgaged Property or any part thereof shall be damaged or taken thrcugh condemnat~on (.vh~ch term when used here~n shail ~nc~ude any damage or takmg t~~r an~ grivernmental authonty or any other au?hr~nry authonzed by the laws of the State of Fionda or the Urnted States ot Ame~~ca to so dam2ge or take. and any transfer by prn~ate sale ~n f I!eu thereof). e~the! temporardy or permanently. the ~nt+re ~ndebtedness ar,d other sUms secured hereby shali, at the opbon ~ o~ Mortgagee. become ~mmed~atety due and payab!e Mr~rtgagee shali be ent~tled to ail compens~t~on awards. damages. cla~ms. ~ nghts of act~on and prc~ceeds of. o~ on account of any damage or tak~ng through condemnaUon a~d +s hereby author~zed. ~ at ~ts opbon. to commence. appear ~n and prosecu?e. ~n ~ts own or Mortgayor's r.ame. any act~on or proceedmg reiabny ro ~ any condemnat~on and to set?ie or comprom se any c!a~m ~n connechon therew~th Ail such compensaUOn awarcls. damages. ~ c!a~ms. r~ghts of act~on and proce2ds and any ether paymen?s or rei~ef. and the nght thereto. are hereby ass~gnec3 by Mortgagc~ ; !o Mortgagee and Mortgagee after deducbny the~efrom al! ~ts expenses ~nctud;ng attor~ey's tees may release any mon~es ; so rece~ved by ~t vnthout a~f~cung the hen o~ th~s Mortgage or may apply the same such manner as Mortgagee shali determ~ne. 'o the reduct:on o' the sums secured hereby ar.d to any preRayment charge prov,ded ~n tl,e Note. th~s Mortgage or any other ~~srument secunng the Note Any balance o~ such mornes then rema~nmg shaN be pa~d to AAortgagor Mo~tgagor agrees to •~xecute such fuRher ~ss+gnme~~s or any compensa! cns. awards. damagzs. cla~ms. nghts of aci~on ar,d proceeds as Mortgagee f •~?ay requi~e ~ 5 Care of Mortgaged Property. Mor?gagor ;ha~~ not remove a~ demoitish any bui~d~ng or ott~e~ property torm:ng a part [ of the Mortyaged Property w~thout the wn!ten consent of Mor;gagee Mor,gagor shall not perm~t, commd. or suffer any waste. € ~mpa~rment or detenorat~on of the Mortgaged Property o! any part thereof. and shatl keep the same and ~mprovements thereon i m go„-~ci condition and r~pair Mortgagor shail nonfy Ulortgagee ~n wrt~ng v,~th~n f~ve (5) days of any ~n~ury. damage, or ~mpa~rment ¢ cf or occu~nng on.the Mortgaged Property Mortgagee may. at Mortgagee's d~scret~on, have the Mortgaged Property ~ns~ected ~ at any t~me and Mo~tgagor shall pay all cos!s ~ncusred by Mortgagee ~n execubng such mspecbon. ~ 6 Mortgagee's Right to Make Certa+n Payments. In the event Mortgagor Sa}Is to pay or d~scharge the taxes. assessments. : ~ I2v~es. I~ab;i~t~es, ob!igat~ons and enc;.~mbrances or fa~is ?o keep the Mortgaged Property ~nsured or ta del,ver tr,e pol:c~es. prem~ums pa~d. or fa~~s to repa.r the b1ortgaged Property as herem agreed Mortgagee may at ~ts ophon pay or d~scharge ~ ihe taxes. assessments lev~es, I~ab~i~t~es. and obi~gat,ons and encumbrances or any part thereof, to produce and pay for sucn ~ ,nsurance or to make and pay ior sucr~ repa~rs P~IortgageE shal! have no obhgat~on on ~ts part to determ~ne the val~d~ty or necess~iy of any payment tnereof and any such payment shall not wa~ve o~ a!fect any opt+on. I~en eqwty or r~ght of Mortgagee ' under or by v~rtue of th~s Mortgage The full amount of each and every such payme~t sha4! be timmed~ately due and payable . ard shal! bear ~nierest from the date thereof urt~i pa~d at the Default Raie, as here:nafter deimed. and toge!her w~th such ~~terest. shali be secured by the i~en of th~s Mortgage Noth~ng here~n conta~ned sha;l be cor.strued as requ~nng Mortgagee to advance or expend mornes f~r any of the purposes ment~oned ~n th~s pa~agraph 7 Payment ot Expenses. Mortgagor shal~ pay a~l the costs. charges and exper~ses. ~nduci~ng reasonab,e attorney s fees whether ~ncurred at tnal or appe!late Ieve!. d~sburseme~ts and cost oi abstracts of t~tle. ~ncurred or pa~d at any t+me by P~tortgagee ~'ue tc~ the ?a~(u~e or the part o( Mortyagof promptly and fu~iy to pertcrm. comply w+th and ab~de by each and every sUpulahon. agre2men~, cond~bon a~d covenant of ?he No!e and th~s Mortgage Such costs. cha~ges and expenses. shaN ~ be ~mmed~ately due and payab~e, whether or not there be noUce demand, attempt to colfect or su~t pend~ng The full amount ` ot each ~nd every ;uch paymen! shaii bear mterest from ihe date thereel uni~l pa~d at the Default Rate. as hereinatter ~ef~ned AII such costs charges and expenses so ;ncurred o~ pa~d !ogether v~~th ;uch ~nterest. shall tw secured by the i~en of th~s Mortgage and any othe! ~nstrument secunng the Note 8 After Acquired P~operty. The l~en o' th+s Mortgage w~It automat~ca~~y altach ,r~~thou. ~unhe~ act. ro a~~ atter acqu~red : property of whateve~ k~nd tocated m er on. o~ attached to. or used or ~nte~ded to be used ~n connect~pn ~ruih oc.,n ihe operat~on ~,1 ;he ~'o~tgaged oropertY ~ . BooK 675 PAGf ~480 L; ' ~~~4_ '.r.~ , an.a_~o x ..n. ..~^uv r. = ra ....a _52xw~~ S1