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Home My WebLink About2210 0, R, aDOK 8 15 S T, lU~,I[ couiif;: flA. And the 3aid mortgagor doea heNcy eovenant, promise. and acree to and with l~ gld mortpgoe u follo"'l: FIItST: That said mortgagor will pay to Il&ld mortgagee the note or obligation hereinbefore rdeh-ed to and t~~ inuebt""ln(>~s and interellt evidf'n~ thereby, an" all other luml It!('Ured heNlby eaeh and ."el'J' promptly upoo the day. re~pedively the seme sf'verlllly .beccme duei and will dul)', promptly and tully comply with, keep and perfonn all tbe c~vE'nants and ,agnel'te!ltl In said .no~ or oDlIgatlon ,and In thll mort&'al"l In mann"!r and form all tberem set oat; aDd Wlll not commit or suffer any strip, Impalr:nent, .de.erloratlo~ or watt~. of lAid mortc"aged property, and will pay an cOllts, cLuges, ablltr~t feell, !"rd expenses, Including. attome?, II feell. WhiCh the mortgagee may incur in colleding any su~n hereby s~ured, In {>lIforcmg any covenanta herem contamed o!' in protecting the mortgagee'l aecurity, whether by "U1t or otherWise. SECOSD; go long ll.S any of the indebtedJ.1es!l h!,nby sect!~d sh.l~ remain out.tanding and unpaid, the mortpltor aRT',-e. to k(>E'p m full force and ef\'t'Ct that certam policy or pollCIEI of life insurance and "llrned to tM mortgall'e u coHatHnl ",'curity for the payment of the indebtE'dness secured hereby and to keep said property and improvem~nta In j:('ooo condition and repair, to permit the mortgagee to (>nter upon and inspect said mortglited property to promptly and faitl1fully C{lmply with and obey all laws, rules and omen of every duly eonstituttd goT~mm~ntal authority, and to pay a~ the same become due lind payable all taxes and alIseasmenbl and other charRes that may be levied or asse!lsed upon or alZuinst the said property, or which may be imposed upon the mortgagee in Florida by reason of this mortgaie invut- ment, or upon the mortj:('age or oblij.;ation accompany~ng the nme, or the debt hereby secured, III well as any spedfte mort- ~aj.;e t:lx now or hereafter impose:! by law in Flonrla upon &aId obligation or this mortgage provided that llhould the amount ("If ~uch ~axes, a~~es"ment.~ and other charges paid for the mortgagee under this pan:.graph togethe:- with the interest on the indE'btt'dne~s exce€'d the hij:('hest interest rat€' permitted by law on tLe Indebtednesll, mortgagor llhall not be liAble to pay any of such exce-ss o\'er the highest legal rate; and also- to pay all other debts, obligations or claimll that ma)' become lien" upon or charges against said property, whether for repairs or for improvement. that are now, 1r that may hereafter be made ~her"on, or oth(,rwlse, and not to pemlit any lian to accrue and remain on said property or any part thereof, or on thE' impro\'em('nt.8 upon the same, ,!hich might .take precedence over the lien of this mortgage, and to depoait. with the mortR'aR'ee, all receipts or other satisfactory eVidence of the payment of wes, alIse.llsmenta, chargea, ell1ims and liens of e\'ery nature affecting or which may affect the above de!ICribed property or any part thereof. THIRD: Upon the failuT(> by the mortR'aR'Qr to pay any of llaid taxes or &lISf'8sments as the orne bccomf' due and payable, or the pass,l\j:('e by the State of any 1a~' imposing pllrment of the whole or any port;on of any of the taxc. pr char!!,e" afore~ald upon the mortgagee, or upon the rendenng by any Court of last resort of a decillion that an UlHINtnkinj:(' hy the mortr-n!!,or a!l herein providE'd to pllY taxes, as!lellllments or char~s, as aforesaid. is legally !noperat ;\'e, or in the ('VE'nt of the pa88age of any State or Federal law deducting from the value of lands for the purpose of taxati"n any lien thereon. nr chang-inR' in any way the law8 for the taxation of mort~ges or debts secured by mort- j:('aR'e. or the manner of th(> collection of an~' "uch t!iXl'S sn flS to prejudice or affect thi!! mortgage, then and in any such enT,t the debt hereby "ecured, withont deduction, IIhall, at the option of the mortgagee, becom", immE'diatelv du(> and C'ollpdihl(" notw;th~tand;n:::, anythinR' containE'd in thill mortgage or any law heretofore or hereafter l!nacted. or any judicial d('('i"ion hHet.ofore or hereafter rendered. FOt:RTH: The mortgaj:('or herein further agrees to keep said improvements on the above described property un- cell"illl?]Y in"ured aj:('ainst 10"" by fire, with extf>nded coverage. and if requir.:d, war damagl' to the extent available, in some reliable in~'lrance company or cDmpan;es !tatisfactory t0 the mortgage(> to their full in~urable value, until the indebtedne5s hl'rehy ,e('uren is fully paid; all policie~ to ~ w:-itten in such form as sa ti8factori' to the mortgagee, anJ to contain mo!'t- j:('ag'ee deu<"" sati~factory to the mnrtj:('agee, to be deposited with the mortgaj:('ee, premiums Pllid, and the Iou (If any) to be pnyabll' to the mortgRgee a~' itB intere"t may appear. The mcrtg'agor also aR'l'ee!l to deliver all renewal policies, premiums paid, to thp mortj:('RI'et' nt it" office in the City of N"w York, at least three days l>dore the expiration of the old pollcl ell , In cao(' o~ IM!I and paymE'nt by any insurance company, the amuunt of the insurance money paid shall be applied either on thp indehtednf"ls !lecured hereby or in rebuilding or restoring the damaged property all the mortgagee may elect. FIFTH: And in the event the mortg'agor fails to repair or in.ure .aid property or to deliver the policies, premiums pnid, a. hE'rein agreed, or to pay as the same become due and payable the taxell, all!lellllmenta or charl?;flI which may be a85e5,,('d or imposed as aforesaid, or the liens or claims which may accrue on said property, the mortgal(ee is hl'rcby authorizE'.] at it.. election to repair !laid property and pay for the e08t of such repair!!, to insure said property and pay th.. co~t (If such in~urance. and nl"o to pay ~ll.id taxes, charges, HE'ns and claims, or any part thereof, without said mort- j:('a~ee waivil1R' it" right of foreclo~ure or any otht'r right hereuridn, and the mortlOll'Or hereby agrees to refund on demand the 5um or sums 110 paid, with intert'!lt thereon at the rate of eight per centum per annum, and any and III costs, charges, ab~tract fees, attorney'" fE'es and other expens~ incurred in attempting to coilt'Ct the same or enforce payment ther(>(lf, and thi~ mortgage sba\l stand as security therefor; and any "och 1I11m or sums 110 paid llhall become a part of thE' indebtedne-tl!l hereby secured. SIXTH: And the mortj:('~or does hereby mortpge, transfer, set over and asllijl.'l1 unto the mortgage~ as additional 8ecur:ty for the payment of saId mortR'age indebtedne-tls all of the rent.s, issues. income and profltA from the above ne"c!"ibed property, hereby giving and granting unto the mortgagee a first a11l1 prior lien thereon, and the mortgagor does hereby transfe:o, se. over, allSign, and pledre to the mortgagee all lease-tl now or hereafter p1acE'd upon said mort.- F'aged property or any part thereof ;;.nd do hereby covenant and agree that. in the event of a defsult under any of the covenants nnd provisions of this mortgage, the mortgagee is hereby authorized and empowered to collect and receive all such rer.ts, iS5ues, income and profits due and to become due from any and all tenanta Ulling or occupying said property, or any plirt thereof, and to apply tht' same against the defaulted paymenh. So long al there shall be no default here- under. tnI' mortgJlgor shll\l have the right to co\lect, receive and uae, without aeeo>.mtlng to the mortgagee, any and all ~u('h rents, income and profits derived and to be derived from said property. SEVENTH: But if the mortjl'as;tor shall fall to payor cause w be paid any lluml of prineipal or interest mentioned in 8<1id obligation, acC'ordinR' to the terms thereof, and luch default continue for a period of thirty days, or shall fail tc> keep any policy of life insurance held lUl collateral hereto in full force and effect, or in case of the aetnal or threatened dl'molition or removal of r.ny :'uilding erected upon said property or in the event that the mortgagor !!hall fail to pay ~aid taXE'!'! or asses"ments or said premiums of msurance all the &ame ehall severany become due and payable, without demand or notice, or fail to perform any other act or thing in said note or herein required of or sgreed by said mort- gagor to be done. the entire indcbtednellll hereby secured !!hal1 thereupon become due !!nd payable and this mortR'a&~ subject t,) foreclosure, at the option of the mortgagee. EIGHiH: In case thi~ mortgaR'e be foreclo!!ed by a suit In equity and the mortgaged premises be sold to satidy a dt'crpe of foreclosure, the proceeds of such "ale shall be appliPd lUl'follows: FirAt, to the expenses incurred hereunder, incl\11lin;:: n rell~onable attQrneY'8 fee for lIuch sendces as may be neces!I!l.ry for the collection of said indebtE'dness and thE' fort'r1n-<!1T"(> of this mortR'aR'e; lIe.:-ond, tc the payment of what~ver sum or sums the I'lort{l'.'J\gee may bave paid or becomc liable to PRY in carrying out the terms and stipulations of this mortgage. together with interest thereon; and finally to thp payment and satisfaction of !'laid note_ The balance, if any, shall, unless the Court de<:ree otherwllle, be paid mto the Tf!j:('istry !)f the Court having jurisdiction (,f llaid foreclosure suit, to abide the further order of saM Cou~. :'\1 ~TH: The mortj:('agor hereby waives all rij:('ht of homestead and exemptionl under the COTUltituUon and Laws of FIr.rid,,; and agrees that the note or oblij:('ation hereinbefore described and this mortgage are to be construed accord in,; to the law" of the State of Floridr., where the same are executed. TE~TH: That, in the event that at the beginninll: oi or at any time ~ndin" any lull. upon this mo~age, or to fon-close it, or to r<>form it, and/,)r to enforce payment of any claims hereun...er, Aid mortgagee Ihall apply to the eourt ha\'in~ juri!!diction thereof for the appointment of a receiver. luch eourt Ihall forthwith appoint a reeeiver of ptJd mortJ::nj:('ed prf)~rty all and singular, inclurlinR' all and singular the rents, income, profttA, i!ltu~ Ilnd revenues from whatE'\"t'r snUTce df'rived, each and ev~ry of whkh is hereby mortpged li.s if llpe<:iftcJllly !let torill anrl described in the R'l'anling nnd habt>ndum clauses hereof, and lIuch receiver llhall havl\ all the broad and effective functions and powr-rl! In any wi<e ('ntru~ted by a C{lurt to a receiver, and lIuch appointment llhaI: be made by stich eourt as an admitted equity an,1 a mattf'r of ab80lute rijl'ht to Mid mortf.1lgf'e, and without reierence to .1:1e ll.deQu8Cl or inadequacy of the value of the propt'T"ty mortgaged or to the sulvency OJ' insolvency of girl mort~gol'll aud/or 0 the defendanl'l, and that such rent', profi'~, inC'ome, issues and revenues shall be applied by !luch re<'eiven aecvrdiDg to the lien and/or equity of said m()rtK'iIC~ and the practic~ of ~uch court. EL E\'ESTH: That the mortgagee mr y releue for .nch eonslderation, or none, u It may lequire, any portion of the alx,V(' (lescrihe(llnnd without. as to the remainder of the security. in any wise impairing or affecting the lier: and prioritiE's herein provid(>d for the mortralree compared to any lubordinate lienholder. TWELfTH: That this indentuTe and obligation shall be and remain in full forr:e and efft'et and in no wise be imp"jr(>{i until the actual payment to" the morts;t.g~ of all lumll llecured hereby, and that in ~ase of a 8A1e or t.,rnnsfer of any of the m0rtj:('f<:ted property or in c&.lle of any agreement extending the time or modifying the termll d! payment oE'rein recite.~ or in case any part or parb of the mortgaged prope>ty are released from the lItn of tbla mortgr.ge, --~ " <>. " ..- -