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Home My WebLink About2819 , r w ~ , . due and payable accordir.g to law before they become dehnquent and before any interes? attaches or any penalry is incurred ~7sotar as any indebtedness ~s o( record the same shall be Rromptty satis(~ed and ev+dence ot such sattisfact+on shafl be given to Mortgagee 3. Insurance. Mortgagor shal! keep the Mortgaged Property and the +mprovements now exist~ng or hereafter erected on the Mortgaged Prope~y insured as may be required trom time to time by Mortgagee against loss by f~re, other hazards and cont~ngenc~es (includ~ng ilood hazards and related occurrences m the event any port~on d the Mortgaged Property ~s located in a ftood hazard area as may be idenUfied irom time to time) in such amounts and to? such penods as may be reqwred by Mortgagee. Mortgagor shalt pay promptly, when due, any premiums on such ~nsurance. All msurance sha11 be carneci with companies approwed by Mortgagee and the polic,y and renewals th~reof shall be held by MoRgagee a~d have attached thereto ioss payable ctauses in fav~or and in form acceptabte to Mort9agee. In the eVent d toss, Mortgaga shall g~ve immediate notice by mal to Mortgagee and Mortgagee may make proof d loss rf not made promptly by lNortgagoc Each insurance company concernecf is hereby authaued and d+rected to make payments for such toss d~rectly to Mortgagee mstead d eith2r to Mortgaga or Mortgagor and Moctgagee jointly. lnsurance proceeds or any paR thered may be applied by Mortgagee at its option, after deduCting there(rOm all its expenses inCluding attorney's feeS, eith2r to the [eduCtion d the indebtedness heret7y Secured or to the restoration or repair of the praperty damaged. Mortgagee is hereby authonzed, at its option, to settle and compromise any Gaims, awards, damages. rights d action and proceeds, and any other payment or rel~el under any inss~rance policy. {n tfie event of foredosure d this Mortgage or od?er transier d title ro the Mortgaged Property in extinguishrnes~t d the indebtedr~ess secured hereby. aN nght. title, and interest oE Mortgagor in and to any insurar?ce odicies then in tom.,R shaq ~ss ±o ihe ~!~h3C°_• or grante~ Mortgagee may at its option require Mortgagor to deposit w+th Mortgagee on the fi~st day d each month, in add+t?on to ma{ung payments d principal and interest, until the Note is fully paid, an amount equaf to one-twelfth ~t/12) of the yea~ly premiums for al! insurance Such deposits shaJl not be, nor be deemed to b~ trust funds, twt may be comm~ngled with the generat funds d Mortgage~ and no interest shall be payable in respect thered. Upon demand by Mortgage~ Mortgagor shall de4iver to Mortgagee surh addltionai rnonies as are necessary to make up any deticiencies in the amounts necessary to enable Mortgagee to pay such premiums when due. In the e~rent of de4au4t under arry d the terms. caenants and cond~tions in the Note, this Mortgage or any other instrument securing the Note to be performed or abserved by Mortgagor. Mortgagee may apply to the reducUon d the sums secured hereby, in such mannet as Mortgagee shall determine, arry amount under this paragraph remaining to Mortgagor's credit and any retum premium receiv+eci from cancellation of any ins~rance po~~cy by Mortgagee upon ioreclosure of this Mortgag~ 4. Condemnation. ff the Mortgaged Property or any part thereof shall be damaged or taken through condemnaUon (wh~ct? term when used heresn shatt ~ndude any darn~~ge or takin9 br~+ aM 9averrxneMal auttxxdY a any other autho~ty authorized by the laws of the State of Fbrida or the United States of Ame~ca to so damage or take, and any transfer by pnvate safe in I~eu ihereof), e~ther temporarily a permanentty, the enUre irsdebtedness and other se~ms secured hereby shall, at ihe option d Mortgage~ become immed~ately due and payabie. Mortgagee shall be enti~ed to all compensabon avrards: damages. daims, rights d action and Froceeds ol, or on account of any damage or taking through condemnation and is hereby authorized, at ;ts optian, to commence, appear in and prosecute, in its own or Mortgagcr's name, any action or proceeding relating to a~y condemnation, and to se;tte o~ comprom~se any cia~m ;n connec.t~on theretivith. AU such compensation awards, damages. claims, rights d action ar~d proceeds, and any oiher payments or rel~ef, and the right thereto, are hereby assigned ~y Mortgagor I~ to Mortgagee and Mortgagee after deduct~ng therefrom all its expenses in~clud~ng attorney's fees may release any monies ~ so rece+ved by ~t without affecting the lien d this Mortgage or may a~ply the same in such manner as Mortgagee shal! d2termine, ~ to ,he reduction of the sums secured hereby and to any prepayment charge prrnnded in the Note, this Mortgage or any other insirument secu!ing the Note. Any balance d such monies then remaining sha11 be paid to Mortgagor Mo~tgagor agrees ro s execute such further ass~gnments ~r arry compensat~ons, awards, damages, cla~ms, nghts of act+on and proceeds as Mortgagee may reqwre. i 5. Care oi Mortgaged Property Mortgagor shall not remove or demo!~sh any bu~ld~ng ar other property form~ng a part f of the MoR~aged Property w~thout the wntten consent af Mortgagee. Mortgagor shall not perm~t, commit, or suffer any waste. j ~mpa~rment os detenorat:on of the Mortgaged Property or any part fhereof. and sha!1 keep the same and ~mprarements thereon ! !n good cond~t~on and repair. Mortgagor shaf{ nobfy Mortgag~e ~n wribng wn!hin f~ve (5j days oi arry ~n~ury, cfamag~ or ~mpa~rment of or occurr~ng on tne Mortgagpd Pr~perty. Mortgagee may. at Mortga~ee's discret~on, have the Mortyageci PropeRy inspected ~ a! any t~me and Mortgagor shall pay a1f costs mcurred by Mortgagee in executmg such ~nspecUOn. 6 Mortgagee's Right to Make Certain Payments. In the event Morr.gagor fa~ts ?o pav or ~~scharge !he taxes. 3ssessments. `P ~ev~es. hat~u~ues. obh~aUOns and encumbrances o~ fads to keep the Mortgaged Property insured or ;o d°iiY@! the pol~c~es. ~ premiums paid, or fa~ls to repair the IMortgaged Property as here~n agreed, Mortgagee may at its ophon pay os d~scharge i <.he'ax~ s assessmen,s. lev~es. 1~ab~l~bes. and oU~~gai;ons and enc~mbrarces or a~y part thereof. to prcduce and pay for such insurance or t~ make and pay for such ~epa~rs Mortgagee st~a14 have no o5l~gabon on ~ts part to determ~ne the val~d~ty or ~ necess~ry pf ar~ parment ?~ereot anb an~~ suCr~ pavment shal! not wa~ve or affert ~ny nnt,~n !~an pr~_ut ~ nr r~~ht n{ Mnrt~Yy?~ t unde! cr py v~~tue ~1 !h,s Mortyage 1"he (uli amount a~ each and every ;ucn payment shal~ be ~mmed~ateiy due and payable anc~ ;na,! bea~ n'.erest tror, ;ne date thereo~ ur~t~~ pa~d at the D~faul: Race. as here~~~after def r,ed. ~~d toge!her ,~-~?h such ~nte~es? i SY'34' 7° SE'.CU~@d J~ it'E ~~E'n Of i!ti5 MO!'Q2g8 ~10!h~ ;g here~n ccrta~~ i~C Shall :it; :Of1S~~U°d aS ~eGu~r~nU Mc~t(~a~Pr? to a~vance ; or excend mc~~es fo~ a~!y oi t~e purpc>ses r~~e,~'~o~~ed m?h.s paragraph 7 Payment oS Expenses. Mortgagor sha!~ pay aif the custs. ct~arge; a: ~d ex~;en;es ~nciUd;ng reaso^at; e attorney ~ '~2S '.~,hc:ihe~ ~nCUrf~d 3? tl~31 S(~~'.~d:2 +~~'e{, diS~U~SelYlE:~tS and COSt Of dk}S;f3CiS O` !'~,f? t~1CL'~'E'd 'J' ~?~~O 8; any i^'C bV t~ior.~ayee d~.:e ?o the fa~lure on ihe part Gf Mer;gagor promptiy and !uny te per!~rm. ceR~p~y ~•.~tn a1~ abde by each a~~ evary st ;;uia~ on, agreemen'. cond~r:~~ ard covena ~t of ihe ~+o'e arU r~~~s !~lo~fgage Su~~~ costs. charges a~d expenses sha'~ be r^me,:~a'ely r~,;~ and payaG:e. wi~etner e~ ro? t~.ere be not~:.e oemar;d. atterr p? b co~~ecr or su~t pend~ng Tt~e tu;! ar~aunt o` ~3ct, ar.d e~e~y s:.ch payn~en? ;~alf bear ~nle~est f~oT t"e r~ate ?hereo` u~bl pa d at ~he ~efaul+ P,ate. as he~e~r~~ iter Ce`~ned such costs. charges and expenses so ~~asrfed or p~ d tcget~er :r~tt~ s~eh +n;e~es~ sha~~ be secured ir~ ?he ~~en o1 ~r,~s Mcrtgage and any Cther instrument secur~ng ?he ~do;e 8 After Acquired Property. The !~en of ih~s F~"o~tgage v,:!t autOm3UCd'ly e(?aCr~ tr;ou! `un<<e{ act a<< a~ter acqu~~ecs property of wha'e~.er k.nd !x :!eC ~n or ,nn. or atrarhed ;o or used or ~nten~ed ?o be used ~n co~inec'. cn v, ih or ~n the cperat~on o` tne Mortgayed Pro~erty n. ~.w ~~:tl.Z::s°i: ii^w^uii~ci~~s. ai; i~iTiGS ii iij iviu~~d:~C ~ t! t•iit~ : tJFJUfI MUI;C~dC~t'G S lM~lif?S' MO'1~.?.(~;~f 5~?c~l! fT?3ke EX2i.iJtf; and def~ver or cau=e to be r~~ade. exea~ted and de~~ve~ed to Mor±qagee and. ~~vheTe apprtl~R~te snali ca~se to c~e recorded o~''e~ a~1d th~e3';e~ to be se secafded or ~el~led at such: b~E~ a~~d ,r: s~_,~h p':ac,es as shai+. be dc~erned hesiiable ~y MO~iC~a~~e ~~i~+ ~i~ StiCn fUr:hC' nl~)':C~2~°5 '~iStrUfTlBf!l5 Of 'Urths-• :iSS'.,'~~:Cg, cc~i~ttcates and o!+~e{ docur,~ents as Mo~tg8~e2 tna'y' BaoK 615 ~±cf~$,~~ ~ . ~ . . G~s, . „ ~ ; ~~5.~~~~~5~`~i~%.Fi_~l.