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Home My WebLink About1964 ..-.-_ ...~ ~ ......._~........... __~.....__" ._.____........__... ~__'- ~~............~,.......-..-...........................,..,........:~.-~ .;._.._ ._..............~......~_-~.__.._....;_..1......__~_.4....__....._ ....~._,.... ~ ~. Thi! mortgage is ~ however, subject to the foUowing covenmts. conditions and Igreements: t1]:~ FIR~l: That the mortgagor hereby I~ and covenants to pay the interest and princip~.l herl':by secured promptiy when due an~ if default be,made in Iny put thereof, or in the payment of any other monies hereby secured, tnen the same shaU, WIthout demand If mortgagee shall elect. become '-\ie J.l1d p-yableat once and the mortgage may be foreclosed in Ute manner provided by law. SECOND: TIut the mortgagor agrees to pay IS the same become due and payable all taxes, a;sessment$, and other charges imposed by l...w (including ditch, canal, reservoir, or other WAter charges, taxes, or il.SSessments) upon ;lid premises or any put theceol including the mortgagee's interest therein and upon th;s mortgage or the note or indebtedness secured hereby, provided that should the amounts paid fOf the mortgagee under this li"'ragraph for such taxes, assessments and other charges together with the interest on the indebtedness exceed the highest mterest rate permitted by law on the iode~'(dness then owing. mortgasor shall not be liable to pay any of such excess over the highest lawful rate. In the event of the passage. after the date hereof, of any law by the State of Florida.. deducting from the value of land for the purpo;c of tlOOltion any lien thereon or changing in any way the existing laws for the taxation of mortgages or debts secured by mort. gage for state or tocal purposes, or the manner of the collection of any such taxes, so as to affect this mortgage, the holder of this mortgage and of the d'ebt which it secures, shall have the right to give six (6) months' written notice to the owner of said land requiring the payment of the entire indebtedness secured hereby, and it is hereby agreed that if such notice be given the said indebtedness shall become due, and roUa.'"tible at the expiration of said six (6) months, THIRD: That the mortgagor agrees to pay all other debts that are now or may become liens upon or charges agai[\5t said premises. and not to permit any lien of any kind to accrue and remain on said premises, or the Improvements thereon, which mi$ht take precedence over the lien of this mortgage. The mortgagor further agrees not to cr~te any lien on said premises Junior hereto unless the person entitled to the benefits thereof shall have agreed that the tim~ for the payment of the indebtedness hereby secured and the manner and amdunt of payment thereof and the benefits of the sCX1lnty afforded hereby may, without consent of such person and without any obligation to give notice of wy kind thereto, be extended, reextended. accelerated. suspended and refunded on any ter~ whatsoever v.:ithout in any manner affecting the priority of the lien hereby created IS security for the payment of the indebtedness secured hereby or any obligation substituted therefor or issued to refund same, FOURTII: That the JnOrtgagor agreei ,to keep sai~ premises and imClrovea;nents thereon in good condition and repair and not to ~omrnit or suffer waste the~f; .0 oper~te ~ll lands, w~ether rmprov~d pastures, orchards: grazing, timber, or crop lands, an a good and husbandmanlake rru.nner an accordance wlth'accepted pClnclples of sound agncultural and forestry practices j to take all reasonable precautions to control wind and water erosion j to fertilize improved pastures, if any, where 'necessary tl) maintain a good stand of desirable ~rasses; to protect orchards and timber, if any, by reasonable precautions against loss or damage ':>y fire including th~ mamtenance of appropriate fire break~; and neither to remove nor permit the removal of any timber, buildings, oil, gas, mineral, stone, rock, clay, fertilizer, gravel or top soil without the prior writ~en consent of the mortgagee. The mortgagee shall have the right to inspect the mortgaged propert)' at such reasonable times and intervals as the mortgasee may desire, to determine, the mortgagor's compliance with the covenants qlntained in any clause of this mortgage. FIFTII: 'lbat the mortgagor agrees to procure, maintain and deliver, premiums paid, to the mortgagee polici{" of insurance against such hazards on the buildings now or hereafter located on said premises as the mortgagee may from time to time require, in such companies and in such amount and form and with such loss papble clauses as shall be s;ltisfac. tory to the mortgagee, The mortgagee is authorized to assi,~n and deliver said policies to any purchaser of this mortgage or to the purchaser of. said premises at any foreclosure sale. In event of loss the mortgagee is expressly authorized and em- powered to settle or compromise claims under said policies, and the proceeds from said policies as well as any other policies procured by the mortgagor shall be paid to the mortgagee who at its sole discretion may apply same or any part thereof on account of the indebte.:lness secured bereby whether or not then due and payable, or may apply the same or any part thereof towards the alteration, reconstruction or repair of said buildings, either to the portion damaged or an)' other portIOn thereDf, or rdease same to the mortgagor, Such application <>,r release shall not cure or wai\'e any default or notice of default here- under or invalidate any act done pursuant to such notIce. SIXTH: 'lbat in the event the mortgagor shall fail to procure, maintain and deliver the insurance policies, premiums prepaid, or to pay, as the same become due and nayable, any tax or assessment imposed by hw upon said premises or any part thereof, or, the n~te, or indebtedness secured hereby, or to pay any lien, claim or charge against such premis~s which might take precedence over the lien of this mortgage or to comply with the provisions of paragraph Fouith hereof, the mortgagee may, without notice or_ qe1I1f!QcL jQSYt.e_afl1.9t th~ 'p~i1dJQY .J.!lq .P~- Y1~ _cost of su_cl! in}l,!ran,c~ .a~4 pay any of - said taxes, assessments, liens, daims and charges, or any part thereof, or red::ean from the sale of said premises for any taxes or assessments (irregub.rities in the levy or imposition of any tax or assessment being expressly waiveJ), or redeem from the sale of said premises resulting from the enforcement of any such lien, claim or charge, or expend such sums as may be necessary to correct the failure of the mortgagor to comply with the provisions of said paragraph Fourth. and the mortgagor hereby agrees immediately to repay to the mortgagee, without notice or demand, any sums so p.liJ with interest thereon at the same rate as sp<Xified in the note secured hereby ~n tile principal thereof after default and maturity, anll all sums paid by the mortgagee with interest shall become a put' ot. the indebtedness secured hereb)', and in default of immedia:e repayment thereof by the mortgagor the whole indebtedness secured hereby shall at the option of the mortg.lgee become due and payable forthwith without notice. SIXTH-A: In the event tnat themortgaged,p'r~mises, or any portion thereof, be sold or conveyed prior to the time the indeb~dfi9sD secured hereby shall hay, been paid in full, then the entire indebtedness secured by this mortgage shall, at the option of the mortgagor, b~come,que'and p~able. SIXTH-B: So long as mortgagor is not in default under this mortgage or note secured hereby~ mortgagee agrees to release from this lien a lot 165 feet square with dwel,ling theJ:'eon situate at NW corner of Parcel II upon (1) payment of $3~ 000.00 to bp applled on last maturing installment of mortgage debt~ (2) furnishing of plat of survey of lot being released, and (3) the payment of a $30.00 service charge. > . ~ ~ .. . _.!: ' . r