HomeMy WebLinkAbout2149
CHARLES E. BECHT
GEORGE il. BARRS
ATTOUlIYS AT lAW
ST. UIOf COUNTY lANK IlOG.
fOU 'lIlC1. fLORID.'
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THIS IS A BALLOON H)RTGAGE
and shall perform, conply \vith and abide by each and ('very the
, agreements, stipulations, condifuns, and covenants thereof, and
of this mortgage, then this mortgage and the estate hereby creat-
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ed. shall cease, determine and be nu~l and void. I
AND the mortgagor hereby further covenants and agrees to pay
promptly when due the principal and interest and other sums of
money provided for in said note and this mortgage, or either; to
pay all and singuJ.ar the taxes, assessments, levies, liabilities,
and encumbrances of every nature on said property; to permit,
commit or suffer no waste, impairment or deterioration of said
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land or the improvements thereon at any time; to ~eep the build-
ings now or hereafter on said land fully insured in a sum of not
less than FORTY-FIVE THOUSAND AND NO/lOa ($45,000.00) DOLlARS
In a company or companies acceptable to the mortgagee, the
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policyl
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or policies to be held by, and payable to, said mortgagee, and
~n the event any sum of money becomes payable by virtue of such
insurance the mortgagee shall have the right to receive
the same to the indebtedness hereby secured, accounting to the
mortgagor for any surplus; to pay all costs, charges, and expense,
including lawyer's fees and title searches, reasonably insurred
or paid by the mortgagee because of the failure of the mortgagor
to promptly and fully comply with the agreements, stipulations,
conditions and covenants of Said note and this mortgage, or eithe
to perform, comply with and abide by each and every the agreement ,
stipulations, condi~ions and covenants set forth in said note and
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II this mortgage
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or either.
In the event the mortgagor fails to pay
when due any tax, assessment, insurance premi~m or other sum of
money payable by virtue of said note and this mortgage, or either,
the mortgagee may pay the same, without waiving or affecting the
option to foreclose or any other right hereunder, and all such
payments shall bear interest from date thel'eof at the highest la\>l
ful rate then allowed by the laws of the State of Florida.
The parties hereto covenant and agree that any transfer of