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Home My WebLink About0205 • 2. To pay the indebtetln~ hereby eecurec! and interest thereon promptly an th~ days fix,erified for the ~ame to become due and payable, and also on demand any other indebtedness Lhat may accrue and ber.~me due and payable to the mortqagee under the terms and provisions of this mortgage; 3. To keep the mortgage~ premises in goai repair; to neither cammit nar suffer strip or ~vx~te on the mort- gag~ci premisea; to obtau~ the written con~ent of the mortqagee before demoliahing, remo~ing ~r materially alterin~ any building, structure or improvement now ur hereafter upon the mortgaged premiaes or before altowing any ~ntch building, structure or improvement to be demolished, rernoved or materially altereci; not to commit nor suffer any act by which the ~•alue of tlie mortg~ge~i premise;~ may be impaired; and not to ~•iolate nor permit• the violstion af any ; la«•, by-1aw, orciinance or contract affectinR the mortgaged premises; not to violate nor suffer the vi~lation of the cove- nants tinci a{Sreeinenty, if any, of record against the mortgaged premi~; To pay before delinquent or before $ny penalty for nonpayment attaches therFto all taxes, impoeitions, a.s.~essments, water rate~, and charges of every nature and to whomevPr assesseci that may no~r• or hereafter be impased, le~•ied or eRSessed upon or against the mortgaged premises or any part thereof, or ugon the rents, iss~ies, income or profits thereof, whet~her any or a11 oi said t~es, t~seessments or charges be le~~ied directly or indirectly or as excise taKes or ~ income taxes; 5. To keep the ~uiidings and improvements no~v standing or hereafter erecteci upon the mortgt~ed premises and any and all apparatus, fixtures anc! appurtenances now or hereafter in or attached to fisid buildings or improve- ments, insureci against !oss or dam~ge by fire and such other hazards r~.s the mortgagee may from time to time require, all ~uch insurance t~o be in forms~ in companies and in sums (not less than sufficient to avuid any claim on the part of the insurers for co-insurance) satisfactory ta the mortgagee; that all insurance policies ~hall be held by and shall be ~ for the benefit of and hrst payable in case of loes to the rnortgagee, and that ~t le~st fifteen d~ys before the expiration of ez~ch such policy, a ne~c and sufficient policy to take the place of ihe one so expiring sha,ii be delivered to the mort- gagee. The mortgagor hereby assigns to the mortgt~gee alI moneys recoverable under each such policy~, anc~ agrees ti~at in the e~°ent ~f a loss the arnount collected under any poliey of insuranre on said property may, at the option of the nl~~rigagee, ~€~ppiied by the mortgagee upon any in~ebtedne~u ani!/or obligati~n aet;iire~~ hereby and in such order as mortgagee may determine; or said amount or any portion thereof ma,y, at the option of the mortgagee, either be used in replacing, repairing or restoring the improvements ~arti~,ll~~ or totally destroye~i to a conditiou satisf~ctory to said mortgagee, or be relEaseci to the mortgagor, in either of ~~hich erents the mortgagee shall not be obligatecl to see to ttie proper application thereof; nor shall the amount so relea.ged or useci be deemed a payment on any indebtedness secured hereby. The mortgagor hereby appoints the mortgagee attorney irrevocable of the mart~agor to assign each such policy in the event of the ioreclasure of this mortgage; G. To pay all Qums, the failure to pay srhich ma~• result in the acquisition of ti lien prior to the ]ien of this tnortgage, before such a prior lien ma}• attach; 7. 'I'hxi upon failure to comply ti~~ith the prececlinq co~~enant or with an~~ of ttie co~~enants ~n<1 agreements t?.5 to pati•ment af taxes, impositiona, ~.~essments, ~;~xter rates and charges, rnaking of regair:~ or maintenanee of insur- ance us aforesaid, the mortgagee, ~r•jthout prejudice to any rights gi~~en under subsequent para~r~~phs herein, may make ad~~ances to perfarm the same in behalf of the mort.gagor, and the mortga~or hereby agrees to repa~• all sums so ad~•anced in his behalf, on demand, s;ith interest frotr~ the dt~te ad~•anre~l at the rate of eight per centum per annum, and all sums so ad~•ttnce~i, ~rith interest as t~foresaid, ~hall be immectiately due and payable und be secureci hereby, ha~•ing the benefit af the lien hereby created, and of its priority, but. no sucti ud~~ances shall be deemec! to relieve the mortgagor from any c~efauit hereunder or ianpair any right or remeciy consequent thereon, and the esercise of the right. to make advances granted in this paragraph shall be opt'sonal n~ith the mortgagee and not obligatory, and the mortgagee ~hall not in any cnse be liable to the mortgagor for failure to eserci~e an~• such right; 8. That the mortgagee shall be subrogateci for furt}ier secnrity to the lien, although released of record, of any anrl ali encumbrauces paid out of the procc~ds of the loan secured by this mortgsge; " 9. That, ~~•hile there is no default in the performance or observance of ~ri}- of the cu~•en2nt5 or agreements lierein contain~.~ci, the mortgagur shall ha~•e the pri~~iiege of callecting ancl receiainq all rents accn?ing under leasew or contracts of tenancy for the mortgaged premiyes or any part thereof; t0. That, if r~n~~ aciion or proceeciing be commenced (escepting <in xetion to foreclose this mortgage or to collect ttie debt hereb~• secured), to ~ti•hich action or proceeding the mortgagee is made a~ part~~ by~ rea.son of the exe- ctat.ion of this mortgage or the note «•hieh it secures, or in ~chich the mortgagee cieems it necessary to defend in order to uphold the lien of this mortgage or the priority thereof or po~.~ession of said mortgagccl premises, all sums paid or incurred by the rrlortgt~gee for counsel fee:; and other expenses in such ziction or prareding shall be repaid 'oy the mort- ~agor, together «•ith interest thereon from date of pa~ment by the mortga~ee, at tl~c rate of eigiit per centum per annum, and all su:h s~ims nnd the interest thereon shail be immecliatety clue and pa~~abte a,nd be tiecured hereby, hac°ing 1he benefit of the iien herebr• createcl and of its priarity; 11. 'I'hat an~~ and ull a«-arcls heretofore made xnd here~fter to Fie ma~ie by t-he City of ~ort Pierce or any municipal, routity, State or fecleral autharities to the pre.sent and all subsequent ou-ner~, of t}~e premises co~•ered by thi~ mortgag~, incluclin~ any a~card or a~ti•ards ~shether for a taking of title to, po~se~.sion of, or ~ny int.erest in, the mortgagecl premises or any~ pari thereof and any a~~~ard or a~~•ards recei~•ed for damage5 sustaineci oy the mortgage~l premises or an~~ part ther~~vf or for any ciiange or changes uf Arsde of streets aPfecting said ~~remi~es, :~re hereby assi~med to the mortgagee; and tl~e rnortgagee, at its option, i~ here~y authorizecl, clirected and empotir•erecl to collect and receive the proceed5 Of RIIti' BItC}1 ~~;'ard or a~~-arcls from the authorities making t}ie same anii to gi~~e proper receipts anc~ acquit- ~ ~ t: Tl('P5 therefor, and to upp(~• the s~me to~~-ard t}~e pa~~tnent of the amount oc~~ing on ac~caunt of the m~rtgage debt, ~ ~ nat~ti~ithstanding the fact thL~t the arizount oa•ing o? account of the mortgage ciebt mu~• uot be then c~ue ~.nd payable; and ttie rnortgago: fiemt~~• co~~enants and agrc~e~ to antl ti?•ith the tnortgagee, upon 7•equest by the rnort.gagee, ;;o make, exec•ute ancl deli~~er anti- ancl all ,~ssignrnents ancl other in5tnzments sufficient for the purpase of a..55igning the zforesaid a~~~zird or a«•ards to the mort~ag;~c free, cleur and dischargecl of any and f~ll encum}~runces of an}• kin~l or nature «~hat- ~oe~•er; 12. Th~t ~n~• failurf~ tu exei•cise any right hereuncler ~hall not constitute nor t;e construed a.~ a n•ai~~er of that ri~ht nt any~ fiitiire time; t3. 'That this mvrtgFLgE: creates a continuing lien to wecure tGe full and fina; payment of the det~t herebv secured ~ and all other obligution3 impased ?ieret~~• and t~ereafter ari~ing. ~ `C1~`', if the pa~~ment~ are made as provide~.l and all the foregoing co~•enants ancl agreement.s are performed anel observecl, thi~ mortgagc~ shall be null and ~•oid and 4ha11 be relea.secl at the ca~t of the mortgagor, which ca~t the mortgagar aqre~~ to p~y; but upon any default in the payment of the indebtetlness hereb~ secured or of any instalt- ment thereoi or oi intere~t ±ht:rean, as they- ~e~•c~raily- become due, or upon ~ny default in the ~rformance or ob~er~~atice ~~~K~.~~ c,~