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HomeMy WebLinkAbout0208 ~ . . ~ 2. To pqj? the indebtedaees hereby eecured and intereet tbee+eon prompt~y on tbe dqya specified ior t~ee eame to become due snd pq,ye?We, iu?d siso on demead uny ot6er Indebtedaees Lhat m~y~accrne and become due iund pqy~?ble to the mortssgee under the terms and proviei~a of this mort6age: , 3. To keep the mortgaged piraniees in good repsir; to neithes connmit nor eulier sirip or wa~te oa the mort- gsged premieee; to obtsin the writtca coaeent of the mortqagee before demoliahing, removing or materially sltering f uny buitding~ etructure or improvemenL now or hereattcr upon the mortgaged premisee or before aUowing any euch ~ building, structure or improvement to be demolisAed~ removed or materi~lly sltered; not to commit nor euRer any sct by which the value of the mortgageci premisea mey be impaired; and not to violate nor permit the violatian of eny law, by-law, ordiaaace or contract agecting f,he mortgaged premises; not f,o violate nor suRer the violation d the cove- . nants and agreement,s~ if any~ of record againat the mortgsged premiees; . 4. To pay before delinquent or before any penalty for nonpayment atte?ches thereto all taxes, impoaitiana~ ` ase~sments~ water rates, and charges of every nature aud to whomever as~sed that may now or hereafter be impoeed. - ' levied or aeae~ed upon or againat the mortgaged prerauaes or say psrt thereof, or upon the renta, issues, income or ` : pmfita thereof, whether any or all of said taxee, assessmenta or charges be levied directly or indirectly or as exciee taxee ~ or ae income taxes; . ~ - 5. To keep the buiidings and improvements now etanding or hereafter erected upon the mortgaged premiees ~ and any and all apparatus, 6xtures and appurtenancea now or hereafter in or attached to eaid buildinga or unprove- menta, insurEd against loss or damage by fire and such other hasarde as the mortgagee may from time to time require, ~ all such insurance to be in forms, in companiee and iti sums (not less than sufTicient to avoid any claim on the part of s , the ineurere for co-insurance) eatiafactory to the mortgagee; that all ineurance policies shall be held by and shall be f for the bene&t ~ and Srst payable in csse of loes to the mortgagee~ and that at least fifteen days before the expiration of esch auch policy, a new and su~cient policy to take the place of the one so expiring ahall be delivered to the mor~ gsgee. The mortgagor hereby a9signs to the mortgagee all moneya recoverable under each such policy, and agreea . . that in the event of a loss the amount collected under any policy of insurance on said property msy, at the option of . the mortgag~ee, be applied by the mortgagee upon any indebtedness and/or obligation secured hereby and in such order , . as mortgagee may determine; or said amount or eny portion thereof may, at the option of the mortgagera, either be u~ed - in replacing, repairing or reetoring the irnpmvementa pe?rtially or totally _destroyed to a condition satisfactory to said ' mortgagee, or be released to the mortgagor, in either of which events the mortgagee shall not be obligated to eee to the h ~ proper application thereof; nor shall the amount so released or ueed be deemed a payment on any indebtedness eecured hereby. The mortgagor hereby appoints the mortgagee attorney irrevocable of the mortgagor to s,ssiga each such policy in the event of the foreclosure of this mortgage; 6. To pay all sume~ the failure to pay which may rESUIt in the acquiaition of 81ien prior to the lien of this ` mortgage, before such a prior lien may attach; 7. That upon failure to comply with the prec~eding covenant or with any of the covenante and agreements ~ as to payment of taxes, impositions, ass~sments, water rates and chargee, making of repaira or msintenance of insur- . ance as aforesaid~ the raort~sgee, without prejudice to any rights given under subaequent paragraphs herein~ may make advancea to pedorm the sanne in behalf of the mortgagor, and the mortgagor hereby ap+eeA to repay all sums so advanoed in his behalf, on demand, with interest from the date advanced at the rate of eight per centum per annum~ and all sums so advanced, with interest as aforesaid, shall be imme~iately due and payable and be eecured hereby, ; , having the bene6t of the lien hereby created, and of its priority~ but no such advance$ sSaU be deemed ta relieve the ~ mortgagor from any default hereunder or impair sny right or t+emedy consequent thereon, and the exerciee of the right to make advaaces granted in thia paragraph shaU 6e optional with the mortgagee and not obli$atory, and the mortgagee ; shall not in any case be liable to the mortgagor for failure to exercise any such right; - ; ; 8. That the mortgagee shall be subrogated for further security to the lien, although relea~ed of record, of any ' and sU encumbrances paid out of the proceeds of the loan secured by this mortgage; ~ 9. That, while there is no default in the performance or obeervance of any of the covenante or agreemente . j herein contained, the mortgagor sha11 have the privilege of collecting and receiving all renta accruing under les.~s or' - ' contracta of tenar,cy for the mortgagecl premisea or any part thereof; ` ~ 10. That~ if any action or proceeding be commenced (excepting an action to forecloee this mortga~e or to i`- ~ collect the debt hereby secured), to which action or proceeding the mortgagee ia made a party by resson of the exe-; , ij cution of this mortgage or the note which it securee, or in which the mortgagee deems it nec~ary to defend in order,: - to nphold the lien of thie mortgage or the priority thereof or po~ession of eaid mortgaged preanises, all sums paid or ~ r: 1 i . incurred by the mortgagee for counsel fces and other expenses in euch action or proceeding shall be r~paid by t1?e mort- gagor, tagether with interest thereon from date of payment by the mottgagee, at the rste of eight per centum per ~ annum, and all such sums and the interest thereon shall be immediately due and payable and be secured hereby, having the beneSt of the lien hereby crested and of its priority; ~ - 11. That any and all awards heretofore made and hereafter to be made by the City of Fort Pierce * or any municipal, county~ stste or fe~eral authorities to the preaent and all sub~equent owners of the premi~ea coveted by this mortgage, including any award or awarde whether for a taking of title to, poa~ession of, or any interest in, the " - mortgaged premiees or any part thereof and any award or awarda reoeive~ for damag~es sustained by the mortgaged premiees or any part thereof or for any change or changes of grade of streeta at'ffecting said premises, are hereby aasigned to the mortgagee; and the mortgagee, at its option, is hereby suthorised, directed and empowered to collect and receive the proceeda of any such award or awards fro~p the suthorities making the same and to give proper receipts snd acquit- ~ tances therefor, and to apply t6e same toward the payment of the amount owing on account of t6e mortg,age debt, notwithstsnding the fact that tbe m ~nt owing on account of the mortgage debt may not be then due and payable; and the mortgaRor hereby cove* and agrees to and with the mortgagee, upon request by the mortgagee, to tnake, <<, , execute and deliver any and a~ gnments and other instrumenta ufficient for the purpose of assigning the aforesaid award or awards to the mortga~ free, clear and di9charged of any and all encumbrances of any kind or nature wha~ ` - t .~:V~~ ~ _ ' 12. 1'hat any failure to ~•~rrciee any right hereunder shall not conatitute nor be construed as a~vaiver of tha6 ~ right at any future time; ; 13, That this mortgage c. :t~ a continuing lien to eecure the full and final payment of the debt hereby aecured sud ail other obligations impaeed ~:reby and hereafter arising. NO~fii~ ~ 16. S88 tcIDBR AITACE~D. . PaY~enta are made as provided aad all the'foregoing covenante and agreements are petformed : ' aad obeerved~ this mortgage shsll be null and void and shall be releaeed st the cost af the mortgagor, which cast the ~ mo~t6aB«' K~ ~ P+?Y; but upon any default in the payment of the indebtednese hereby eecured or at sny inst~all- i' ment t6ereof or of interest thereon, as they eeverally become due. oc upon any default in the pertormanoe or obeervanoe - : &,RR ~~c,~~t~ r . - _ . . _ _ _ _ -