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HomeMy WebLinkAbout1338 ~, :... ~ "'~.;.~..~-~~.._-_. '-.- -.....----....,,- _.l _ Q:t: 58 !Yl5 b:~ i~.~l)J " , I. 'S T i IICI[ CUIN'l' Y 'll t. . ~ . '-... ....' f J ~, R. ........:-.......-.-.. -..-..-..- - _. - .. .. PROVIDED ALW A Y8. and thee pruenta are upon thelle expr:lss conditions, that it Mortgagor shall promptly pay to Mortgagee one (~l__certaln promluory not________., even date h~l'ewlth, made bY_n__.9_!~ ~~_ ~IOH1'_ and D. VICTOR KNIGIf1' payable to the order of Mortgagee.:.a C/c. Mr. N. S. B. Alexander, 1368 Whitacre Drive, Clearwater, ,Florida, in principal sum of $53,037.00, to~ther with interest thereon from March 11, 1963, at the, rate of siX percent {6%) per annwn, snid prinoipal sum and :1nterest to be payable in installments on the dates and in the amounts as follows, namely: Principal payable :1n five (5) equal successive annual installments of Ten Thousand Six Hundred Seven and 40/100 Dollars ($10,607.40) each, plus interest at the rate of six percent (~) p&r annum on the principal balance rema1.ning from time to time unpaid, payable annually, the first installment of principal, plus acorued interest, to be due and payable on or before one (I) year after date, and a like installment of principal, plus accrued interest, to be due on the same date of each succeeding year thereafter. And until full PIl:vm61\~ ther~f, or any extenslona or renewals thereof. In whole or In part, and payment of all ether Indebted- neu or liability that may become due or owing hereunder and lIecured hereby, ahall faithfully and promptly comply with and ~rform each and every other. cov~ant and provillion herein on the part of Mortgagor to be complied with and performed, the;) thesE: presents shall be void. And Mortgagor hereby covenants Il.!l follows: To pay, with Interest. said note and ar exten.slons or renewals thereof, In whole or In put, and all other Indebtedness or liability hereby secured, however created or evidenced, promptly when the same r~spectlvely becorr,es due; to pay and/or d18charge any other amount..,. indebtedness and/or liability that may In the future become due. owing or outstand- ing from Mortgagor to Mortgagee, however the same may be or may have b.?('n contractei J<vicleJl.~d St!...Jlccrued~ and that this mortgage shall secure 1\11 such amounts. Indebtedness and/or liability to the extent of $-2..1., UJ.l.. UU ,in addition to aU other amounts due ~r to become due hereunder as here!.'1 svecified; to pay all taxes and aue..sments le\'led or assessed upon !>!lId property before the same become delinquent, and in no event to permit sald property, or any part thereof, to be sold tor non-payment of t&xes or assessmenl8; to keep aa1d property in good repair and to permit, commit or lI\Jffer no w8.llte, Impair- ment or detel1oralion thereof; to comply strlctly with all laWII and governmental regullllions and rulell affecting s::!1 yroperty or Ita o~rntlon; to pay all taxes that may be levied or a8SeME'd on thill mortgage or the moneys lIecured hereby, provided that In no event shall the amount paid on account of lIuch taJces, together with the Interest paid on the Indebtedne8ll secured' hereby, exceed the maximum Interest rate allowed. by la.w; to permit no mechan!c'lI or other lielUl arl&ng either by contract or by law, wlllch- might be prior !n lien to'the Uen hereof, to be created or rest upon all or any part of. a.foresaid premises or property for ten days without the same being plo.!d or releaaed, and diacharge of said premiaes and property therefrom procured; and to pay all COBb! and ~ Incurred' or ptild by Mortgagee In collecting the moneys hereby secured or b enforcing or protecting the rlghb and security of the Mortgagee hereunder, Including re.MOnable attorneYlI1 fees, In the event said mortgage and nutp or other evidence at llabUlty be placed In the hands of an attorney for collection, Mortgagor further covenants to keep the buUdlngs, structures and other Improvements now or hereafter erected or placed on the premises and constituting a part of the mortgage security constantly Insured against all loss or damage by fire In a . . none Dum not bss than $ ---. and agalI\8t I'll loss or damage by tornado or windstorm In a sum of not less than $ none in Insuran~ companies lIalla.factory to Mortgagee (but Mortgagee shall not be liable for the Insolvency or IrresponslblUty of any such companies). and to promptly pay all premlUr.18 for such insurB..1:ce, the pollc;es representing which shall be deUvered to and held by Mortgagee as additional security for the payment of the indebted- ncss and liability security hereby. _....11 Sumll recoverable on Itlly such Insurance policies shall be marie payable to Mortgagee by a loss payable clause satl!l!actory to Mortgagee, to be ..ttached to such policies. In the event any such Insurance policy sha.11 expire during the life hereof, Mortgagor agrees to procure and pay for renewal thereof, with the above .requirements, replac- Ing such expired policy, and deposit the same with Mortgag~e, together with I'el:lelpl8 l!hO\~1ng payment In full of premiums therefor, ten days prior to the explra~on date of such policy. In case :>f 1088 Mortgagee is hereby authorized to adjust and lIet- tle any claim under allY such policy and Mortgagee Is authorlz:ed to collect and receipt for any such Insurance money and to apply the same, at Mortgagee's opinion, In reduction of the IndebtedneBl! hero!by secured. whether due or not. or to allow Mortgagor to use lIUch Insurance money, or any part thereof, in repairing the damage or restoring the Improvements or other property without affecting the lien hereof for the full amount secured hereby. It Is furUler covenanted that Mortgagee may (but shall not be obligated l'O to do) advance money that should have been paid by MortgE.go!' hereunder in order to protec~ the lienor lIecurity hereof, and MortgfLgor agrees without dem~ to forthwith repay such moneys, which amount shall bear Interest from the date so advanc.ed until paid at the rate oL per cent. per annum and shall be conaldered as 80 much additional Indebtedness secured hereby; but no payment by Mort- gagee of any such moneys shall be deemed a wslver of :Mortgagee's right to declare the principal sum due hereunder by reason of the default o!' violation of Mortgagor In any of his covenants hereunder. Mortgagor further covenanl8 that granting any extenlllon or extensions of the lime of payment of any part or all of the total IndebtedneS3 or liability secured hereby, or taking other or ac1dltlonal security for payment thereof, shall not affect this mortgage or the rights of :Mortgagee hereunder. or operate as a release {rum any liability upon any parl of the indebt- edness hereby secured, under any covenant herein contained. It Is hlrther covellllnted and rna.de of the essence hereof that In Case of default far five days In the performance of any of the covenants hel'eln or. ~!! ~"rt of Mortgagor, then It shall be .optlonal with Mortgagee to consider all unmatured Indebt- edness or liability secured hereby, and accrued Interest thereon, as ImmeOLa.tely due and payable. v..ithout demand and with- out notice or declaration of aald option, and Mortgagee shall ha\'e the right fcrthwith to Institute proceedlng~ to enforce the c911eetlon of all moneYII secured hereby and/or to foreclose the lien herrof. It III further IJtipulated and agreed by and between the parties that the Mortgagee shall baNe the right to exe~cise any option or privilege herein given or reserved and to enforce any duty of the Mortgagor at any time without further or other notice r~ardlesl! of any prior waiver by Mortgagee or default of Mortgagot or delay by Mortgagee in exercising any right, option, or prlvilege or enforcing such duty of Mortgagor, anli no waiver by Mortgagee of default of Mortgago: nor delay of Mortgagee in exerellJlng any right. privilege, or option or In enforcing any duty of Mortgagor llhall be deemed, held. or con- rtrued to be a waiver of any of the termll or provisions of thil! mort'gage or of any subsequent default. '~ "