HomeMy WebLinkAbout0922Q.R. 2 J~~
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AND the said Mortgagor hereby covenant s and agree s
1. To pay all and singular the principal and interest and other
sums of money payable by virtue of said promissory note and this deed,
or either,promptly and on the days respectively the same severally become
due.
2. To pay alI and singular the taxes, levies, liabilities,
oblicsations, and encumbrances of every nature heretofore or hereafter
imposed~,placed, levied and assessed on said described property, each
and every, and if the same be not promptly paid the said Mortgagee s may
at any time pay the same without waiving or affecting the option Lu
foreclose or any right hereunder, and the amount of every payment so
made shall bear interest from the date thereof at the rate which said note
bears and shall be secured by the lien of this mortgage; the Mortgagor
agrees to furnish to the Mortgagees prior to April of each year receipts
for all ad valorem taxes paid by the Mortgagor
3. To pay all and singular the costs, charges and expenses,
including lawyer's fees, reasonably incurred or paid at any time by said
Mortgagee s because of the failure on the part of the said Mortgagor
to perform, comply with and abide by each and every the stipulations,
agreements, conditions and covenants of said note and this deed, or
either, and the amount of every such payment shall bear interest from
date at the rate which saki ndtc : e4re and a~?a? ? b° eec~~= ed tir",' *~=° ? { ei~
of chips ,i~rtgay'e.
4. To keep the buildings-now or hereafter on said land insured
against loss by fire in a sum not less than the amount of this mortgage
from time to time outstanding and unpaid, and insured against loss by
windstorm in such amount that the insured will not be a co-insurer under
the terms of the policy or policies in a company or companies to be
approved by Mortgagees and the policy or policies held by and payable
to said Mortgagees and, in the event any sum of money becomes payable
under such policy or policies, the Mortgagee shall have the option to
•receive and apply the same on account of the obligation hereby secured or
to permit the Mortgagor to receive and use it, or any part thereof,
for other purposes, without thereby waiving or impairing any equity,
lien, or right under or by virtue of this mortgage, and may place and
pay for such insurance or any part thereof without waiving or affecting
the option to foreclose or any right hereunder, and the amount of each
and every such payment shall bear interest from date at the rate which
said note bears and shall be secured by the lien of this mortgage.
5. To permit, commit or suffer no waste, impairment or deterioration
of said property or any part thereof.
6. To perform, comply with and abide by each and every the
stipulations, agreements, conditions and covenants in said promissory
note ands in time deed seL i~irli.
7. If any of said sums of money herein referred to be not promptly
and fully paid within thirty days next after the same severally become
due and payable, or if each and every the other stipulations, agreements,
conditions and covenants of said promissory note and this deed, or either,
are not duly performed, complied with and abided by, the said aggregate
sum mentioned in said note then remaining unpaid, with accrued interest
and all other soma secured hereby shall become due and payable forthwith
or thereafter at the option of the Mortgagees as fully and complete'y
as if the maid soma were originally stipulated to be paid on such day,
anything is-said praaissory note or herein to the contrary notwithstanding.
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