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HomeMy WebLinkAbout2297,.. 'ST. LUCIE COUl~Tt'. F~1 ' Mortgagor al-all pay to tl-o Mortgagoo any amount nece.~sary to I;takc (he deficiency. Such payment shall be made within thirty (30) dAya after wri',ten notice from the ~iortgagge~ stating tl:e araouut of the deficiency, which notice may bc- given by mail. If at any time ills Mortgagor sliall tender to the Liortgngee in necord- ance with the pprovisions ^f the Rote secured hereby, full payment of the entire indebtedness represented thereby, ;he :~ior~gagee shall, in computing the amount of such indebtedness, credit to the account o[ the Mortgagor any credit ba;ance remainin{; under the provisio-is of (a) of said parsggraph ?. If there shall be a defau t under any of the provisions o{ this mortg8~e resulting in a public sale of the premises covered hereby, or if the I~iortgagee Acgwrea the property otherwise after default, the Mortg•~ee si-all apply, at the limo of the commencement of such proceedings or at the time the property is otherwise acquired, the amount then remaining to credit of 111orGg ngor under (a) of paragraph 2 precedint; ns a credit on the interest accrued and unpaid and the balancE to the principRl thou remaining unptud on said note. 4. He will pray all taxes, atcsessnnents, water rates, and other governmental or municipal charges, fines, or impositions, for which provision has no't been made hereinbefore, and in default thereof the Mortgagee may pay the seine; and that he will promptly deliver the official receipts therefor to the Mortgagee. 6. He will permit, commit, or atrfYer no waste, impairment, or deterioration of said property or any part thereof, excrpt reasonable weer and. tear; and in the event of the failure of the Mortgagor to keep the buildings on said prelnines and those to be erected on said'premisea, or improvements thereon, in good repair, the Mortgagee may make such repairs as in its discretion it may deem necessary for the proper preservation thereof, and.the full amount of each and every such payment shall be due and payable thirty (30) days after demand, and shall be secured by the lien of this mortgage. 6. He will pay all and singular tho costs, charges, and expenses, including reasonable lawyer's fees, and costa of abstracts of title, incurred or paid at any time by the Mortgagee bF:cause of the failure on the part of tl-e )\lortgagor promptly and fully to perform the agrcement8 and covenants of said promissoy note and this mortgage, and said costs, charges, stnd expenses shall be i®mediately due and payable and shall be aecumd by the lien of this mortgage, 7. He will continuously maintain hiizard insurance, of such type or types and amounts as :Mortgagee may from time to time require, on the improvements now or hereafter on said premises and except when payment for all such premiums has theretofore been made under (a) of paragraph 2 hereof, ~e will pay promptlyy ~~•hen due'any premmums therefor. All insurance shall be carried in companion approved by I~lortgaAggee and tl-e poli- cies and renewals thereof ahdii be held by Mortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the ;\iortgg~eo. In event of loss ha will give immediate notice by mail to Mortgagee, and Mortgagee may make proof of lo~a if not made promptly by Mortgagor, and each Insurance company concerned Is hereby authorized and directed to make payment for such loss directly to Dlortgagco instead of to Mortgagor and Mortgagee ointly, and the insurance proceeds, or any part thereof, may be applied by :Mort- gagee at its option either to t~e reduction of the indebtedness hereby secured or to the restoration or repair of the property dammed. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extingmshment of the indebtedness secured hereby, a~l right, title, and interest of the Mortgagor In and to any insurance policies thon in force shall pass to the purchaser or granteE;. 8. He will not execute or file of record any instrument which imposes a restriction upon the sAle or aecu- pt.rtcy of the property described herein on the basis of race, color, or creed. 9. If the premises, or any part thereof, be condemned under the power of emutent domain, or acquired for a public use, the damages awarded, the proceeds for the faking of, or the consideration for such Acquisitutn, to the extrnt of the full amount of the remaining unpaid indebtedness secured by this mortgage, err hereby assigned to the \lortgagec, and shall be paid forthwith to said Mortgagee, to be. applied on Accou=:t of the last maturing instailtnents of such indebtedness. 10. The Aortgagee may, At any time pEnding a suit upon this mortgage apply to the court 1-AVing jurisdic- tion thereof for the appointment of a receiver; and such court shall tort -a-it~I appoint R receiver of the premises covered hereb}• all and singular, including all and singular the income, profits, issues, and revenues front «-hxt- eversource derived, each and every of which, it bring expressly understood, is hereby mortgaged As if specificnll}• set forth and described in the granting and habendum clauses hereof. Such appoinUnent shall be made by such court as an admitted equity and A matter of Absolute right to said Mortgagee, and ayithout reference to. the adequacy or inadequacy of the value of the property morlgaged or to the solvency or insolvency of caul Mortgagor or the defendants. Sucll rents, profits, Income, issues, and revenges shall be applied by such receiver according to 'the lien of this mortgRge and the practice of auc•h court. In the event of any default on the port of the Mortgagor hereunder, the ~lortgAgor agrees tb pay to the ~lortgAgee on demand As a reasonable monthly rental for the premises An amount At leASL equivalent to one-twelfth (fig) of the Aggregate of the twelve monthl~• installments payallle in the then currant year plus the Actual Amount of the assns taxes, Assessments, ~yater rates, and insurance premiums for such year not covered by the aforesaid monthly payments. 11. In the event of any breach of this mortgage or default on the part of the ~tortgRgor, or in the event. that any of said sums of money herein referred to be not promptly and fully paid According to the tenor he.eof, or in the event that each and every the stipulations, agreements, conditions, and covenants of Rid note and this mortgage, are not dui}•, promptly, and fully performed or if the Mortgagor be Adjudicated bankrupt ar made defendant in A bankruptcy or receivership proceedings; then in either or anv such event, the saki Aggre- gate sum mentioned in said note then remaining unpaid, with interest accrued to that timr, and All mono}• secured hereby, shall become duo And payable orthw•ith, or thereafter, at the option of said Mort Agee, As frilly An.•i completely As if all the said sums of money were originally stipulated to be paid on such c~Ay, any- thing insaid note or in this mortgage to the contrary notwithstanding; and thereupon or thereafter, At the option of said ~fortgAgee, without notice or demand, awt at law or in equit,>;, ma •~be prosecuted As if Rll moneys secured hernbv hAd matured prior to its institution. The ?iortgagee may foreclose this mortgage, A~ to t{te amount sa deciared due And payAblc, and the said premises shall be sold to satisfy And pay the same tol;etiter with costs, expenses, and Allowances. In case of partiAl !oreclo5ure of this mortgRge, the mortgaged premise; sl-All be sold subject to the continuing lien of this mortgage for the amount of the debt not then due And unpaid. In such cASe the provisions of this paragraph play again be availed of thereafter from time to lisle by- the Mortgagee. 12. No waiver of Rny covenant herein or of the obligation secured hereby shall At Rny time thereafter be held to be a waiver of the terms hereof or of the note secured here by. 13. The lien of this instrument shall remain in toll force And et'ect daring Rny postponement or estcnsion of the time of payment of the indebtedness or any pa. thereof sect,~•' hereby. t4. This I,tortgage is given to secure the purchA_ae money, or a part thereof, of the lAnds herein described and is executed And delivered contemporamously with the deed therefor. 15. If the lortgagor default in Anyof the covenants er Agreements contained herein, or in said note, then the ?llortga~ee mAy perform the same, and all expenditures (including reASOnAble Rttornet's fees)•made by the :ltortga ee' ih so loins shall draw interest At the rate prayided for in the princ•ipel indebtedness, And sl-nll be repavAb~e thirty (30) days After demand, And, together with interest end costs accrued thereon, shall be sectir~d by tjtis mortgage. . tG. Upon the request of the Mortgagee the ;~iortgRgor shall execute and deliver a supplemental note or notes for the Qum or sofas advanced by the lortgagee for the alteration, modernisation, improvement, main- tenance, or repair of said premises, for taxes or Asscsgmeitts against the same Anci for Any other purpose Atitl-or- ised hereunder. Said note or notes shall be aecur~d herei?y on a parity with and As fully as If the advance evidenced thereby were included :n the note first described abovH. SAid supplemental Hate or notc~ shall bear ~~~; r. ' -..