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HomeMy WebLinkAbout2308~RRK 4 337 "' ~~} s• TO HAVE AND ?O HOLD the above dwc~dbed pr+operti Hato the Mcctgatgee ~ocewraslb~~ . The Mortgagor hereby covesxaab with the N that the h~~aLW6ocltl- wJl. ~ absolub and tae simple title to said ~ropoctr, and ban lnli paw~c aed b ~Y~ and a~tgage the same; that ig shall ~ ]awful at aaT ttma h~nadlK p~ooablT ®d q~tlTT b oatR apon.l~~. hold, and enjoy acid ps+operty, and every part thasroE; that said pcopestp is fne and discharged froMV all Wm+l• encumbranoss, and cladau of nay ldad, inclndtnq fazes sad asseasaeats :e~ospt as beraaa aobd. alai that t3ri Mortgagea hereby fully waramtis taato the Moclgagea the title t9 said paopee<tt and will deiaad the same against the lawful claims and demands o[ all petcsoos wboanaonnz. . PROVIDED ALWAYS. sad these pressab are on these express ooaditf~oms, that whe~nas the l~Ial'tgagvr is indebted to the Mortgagee by virtrri of a vestaia promissory Note. of even date herewith. made by the Mostgagm sad payable to the cadet of the Mortgages in the pciadpal sum of - -~~"F~ ~~~ AND NO/100 ($25,.000.00) - - - - - - - - - - - - --- - - --* - ems, with inteseat thereon, all~payabls as paavlded in sold Note, is lawful money of the United $fates of AauaLca. NOW. TT~REFOAE, if the Mortgagor shall tulip pal said Note, oc any ezbnsiorrs ar renewals thereof sad shall tulle pap all other indebtedness or liability that map become due sad owing hereuadea sad secured heze- by, sad shall faithfully and P~Pdy ~P1Y with sad Perform each sad eveap other covenant and provWon herein on the part of the Mortgagor to be complied with and perfoamsd, then these preseab shall be void and released at the expense of the Mortgagoa, otheawLe to remain is full farce sad effect. AND the Mortgagor doss hereby ezpaesslp covens nt sad ogres: 1. To pay the Note he etnbefore referred to, according to the tenor thereof, and We interest thereon promptly as the same shall become dne. 2. To pay all fazes, aase:sments sad public char es already levied or assessed or that mq hereafter bs levied or as- sessed upon or against said Lad and premises or any personal property herein coavged, when due and payable according to law, before they become delinquent, sad before any interest or penalty shall attach. To deliver to the Mort- gagee, on or before Parch let of each year, to reoeip~t~ evidencing the payment of all such tares far the preceding calendar year. and to deliver to the Mortgagor receipts evidencing the payment of all liens for public improvements within ninety (po) days after the same shall become due sad payable, and to and discharge within ninety (00) days after due date any and all governmental levies that may be made on the mortgaged pmperb. S. To permit. commit, or suffer no waste, Lnpairment or deterlontion of said property or any part thereof, and upon the failure of the Mortgagor to keeQ We buildings on said property in good condition of repair, the Mortgages may demand the immediate repair of acid buildings. or an increase in the amount of security or the immediate payment of the debt hereby secured, and the failure of the Mortgagor to comply with said demand of tie Mortgagee. toe a period of thirty (90) days, shall constitute a breach of this mortgage, and at the option of the Mortgagee. immediately mature tbs entire amount of principal and interest hereby secured, and We Mortgagee immedia and without notice may institute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as~inafter provided. 4. To keep the balldiags and all equipmeat and personal p now or hereafter on acid premises covered by this mortgage insured against loss by fire and windstorm or other cepun a sum or same sufficient to g[ve full protection to the Mortgagee, but in no event is a sum leas than the unpaid prladP+~ ascurcd by this mortgage. Provided, however, that such insurance be in amouab sufficient to comply with any co- ce regniremeats covering same under the laws of the State of Florida, and provided further that the polld or policies shall be written in a compagy or companies and through an envy satisfactory to the Mortgagee. and that said W or policies shall bs held br the Mortgagee and shall bear a standard New York Mortgagee Clause without contribution making the loos under said policies payable to the Mortgagee as his interest may appear. It is agreed that in case the buildings on said real estate are destroyed or ed by fire, windstorm, or by any other casualty against which insurance shall have been req~~red by the Mortgagee thee. we Yertgagee shall have the right to apply the insurance proceeds in payment of the debt secured hereby. either in whole or is part. and whether then due or not. or to require the imprmrements to be repaired or replaced. either partly or entirely. by We use of said p_oceeda, the unpaid portion of the loan to remain in force. Any wch proceeds held >» the Mortgagee for repairs or replacements shall be so held without payment or allowance of interest. 5. Ia the event the lien of thL mortgage is accepted as a secondary or interior lien, subordinate and subiect to any prior mortgage lien or other encumb:aace, the Mortgagors covenant and awe to keep all of such prior mortgage liens and other encumbrances in good standing and to perform, comply wiW and abide bx each and every the stl tioas, agreements. conditions and covenants contained is the agreement evWencing such Drlor liens and will not t such prior liens or mortgages to become in default and will promptly pay any indebtedness secured by such Prior' liens and mortgagee before the same become delinquent, and in the event the Mortgagors shall fail so to do, then such failure shall constitute a default is this mortgage in the same manner and to the acme extent as it there were a de[ault in the terms and conditions of this mortgage. or the note secured hereby. a. Should the Mortgagor fail to make payment of any fazes, aasesamenb or public c~~tes before they become do- linquent, or before any interest or penalty shall attach, or of any insurance premiums or cruet charges p4able by the Mortgagor, or should the Mortgagor fail to make payment of any principal or interest aecure~l by any mortgage or lien prior to the lien of this mortgage before the acme become delinquent, rhea the Mortgagee may make p~ymeats of the same, and also may redeem said premises from taz sale without any obligation to inquire tyro the validigr of such fazes. ascesaments and to sales (the receipts of the proper officers being conclusive evidence of th valldiU and amount (hereof). Ia case of such payments by the Mortgagee. the Mortgagor agrees to reimburse the Mortgagee on demand, and the amounU ao paid, with interest thereon at the rate of ten per cent per annum shall be added to and become part Of the debt secured by ere presents without waiver of aannyy iight ar from breach of any of a covenants, and for such payments, with interest as aforesaid, the premises herelnbefore described, as well as the Mortgagor, shall be bound to the same ezteat that they are bound for the payment of the note herein described. 7. That any sums which shall not be paid when due, whether principal, interest, or money poring for advancements oy the holder purauaat to the terms of this Mortgage, shall bear interest at a rate of ten per cent per annum. ti. That in the event that said Note L pLced in the hands of sn attorney for collection, or in case the Mortgagee shall become a party either as pLintiii or as defendant in any suit or legal ding in relation to the property described or We lien created herein, or for the recovery or protection of said indeb ess, the Mortgagor wlll repay on demand all costs and expenses arising therefrom. including reasonable attorneys fees, with interest thereon at the rate of ten per cent per annum until paid, all of which soma. it unpaid. shW be added to and become a Part of the debt secured by these presents. 9. That the Mortgagee, without notice. may agree with nay ply obligated on aaido ~ of the indebhedn~eas aecureed est is the security described herein, to renew or extend the time for payment of any put hereby, without in any way affecting either fhb lien hereof or the liability of aqy other party 10. That it default be made in the payment of nay installment of said Note, whether of principal or interest, or in the performance of of the covenants contained is this Mortgage, sad any ono or more of such defaults shall have eontinned for a period of t~~a all~s or mon, or upon the happening of any other event which according to the terms of this Mortgage or said Note entitle th~epholder to accelerate the dne date of Bald Note, then the whole unpaid principal sum in acid Note geed to b°oi~such event refetteli toe at the option oiatlra of aid Note become daechanpd payable ~vi~th- time niter the Lappeniag out notice or demand, anything herein or in said Note to the contrary notwitbstaading, and no omission on the part of the holder to ezereiee such option when entitled so to do shaII be ooaatrsied as a waiver' ei such right. 11. Aa additional and collateral security for the payment of acid Note, the Mw pt got sad,0u to the Mortgages all the rents. issues, profits, and income of the real estate and p~ra~na~ p ~~~~above described from the date of this i tastrvment until the debt hereby secured shall be paid is full, with me right b~ rece"° the same and apply them to said Note or other iadabtadaeas owing on account thereof niter default is the oonditloas ther'eot. -~- .~ - ~ _ .