HomeMy WebLinkAbout1069 2. To leave with the mortgagee during the existence of said notc any abstract of title furnished to the mort-
ga~ee. In the event of any foreclosure s~.le hereund~r the mortgagec~ may deliver such abstract to the purchaser
at such sale and it shall be~ome the property of such purchaser.
3. To pay (a) before the same become delinquent, all taxes, assessinents, water and other charges upon or
against the premises or upon or against this niortgage or said note, levied or asseased in ~larida; and (b) any other
charges, fiens, or encumbrances which shall appear to tx a lien prior to the lien of this mortgage upun the premises
or the buildings ar other fixtures thereon. In de[ault thereof, the mortgagee may, without demand or notice,
either (a) p<<y and discharge the same, or (b) may appear in any action for the enforcement thereof anci defend or
settle the s~irne, and its determination as to the validity, priorit~• and amount thereof shall be binding upon the
mort gagor.
4. 1'o keep suc:h buildings and other fixtures apon the prernises insured against such haxards and in such
amounts as may be r~yuired b~~ the mort~,agee. :~11 policies of insurance and the rene~~~als the.reof shall be written
upon forms and in companies satisfa~tory to the mortgagee, Ue rn.ide ~~ayable, in case of loss, to the mort~l~;ee,
and shall, K•ith pren~iums fully- paid by Che mortgagor, be delivered at lcast hfteen (15) da}~s before the expiration
of any old ~licy, to the mortgagee and held by it. In default thereof, mortgagec ynay procure such insurance
and pa~~ the premiums thereon.
In case of lass, martgagee is authorized and empowered at its option to cc~llect and receive the proceeds from
any such policy, and after deducting frotn such insurance proreeds any expenses incurred by it in the collectiun or
handling thereof, to apply the net proceeds, at its election, either to the restoratiai of the property dama~ed or
as a credit on any portion of the unpaid balance o; s~3id note whether then maiured or to mature in the future.
5. To commit or permit no r,•aste on the premises, to keep the buitdings and other fixtures thereon in ~cxxi
condition and repair, and to Cultiratc and fertilize any improved pasture c,n the premises in a gc~od husf~andlike
manner. In default ther~~of, the mortgagee may at its option remedy any waste or make any repairs and its de-
termination as to the advisability or necessity thereof shall be binding on the mortgagor. The mortgagee is hereby
authori~ed to enter upon and take possession of the premises for such purpc~ses.
6. To pay the mortga~ee, immediately and without demand, all sums which it shail pay or eapend nur~ua~~ t
to the provisions of Paragraphs 3, 4 and 5 above, inciuding cost of any titie evidence and reasonable attorne~~'s
fees, together with interest thereon from date of expenditure until paid at the rate of ten percent (IOcJ~j per
annum, and if not so paid by the mortgagor, all such sums shall be added to the debt and secured hereby.
7. The mortgagee, by any authorized agent or emptoyee, may enter upon and inspect the premises at any
reasonable time.
8. The net proceeds of any judgment, award or settiement in any condemnation or other ~roceedin~ for
an}~ damage to the p~emises, buildings or other firtures thereon, shall be paid to the mortgagee and shali, at its
option, either ~e applied as a credit on any portion of the unpaid balance of said note, w•hether the~a matured
or to mature in the future, or be released to the mortgagor.
9. The mortgagee shal! be subrogated to the lien, notwithstanding its re(case of record, of any prior ~•cnci~r'S
lien, mortgage or ether encumbrance on the premises paid or discharged from the proceeds of s.aid note.
10. `I'he mortgagee, at the request of mortgagor, may from t~me ta ti~e and without notice, gxecute and
deliver partial releases of any part of the premises from the lien of this mortgage without affecting either the
personal liability oE any person liable for the paymentvf said note, or t}re~tien of this moPtgage u~ion the
remainder
of the premises for the full amount of the note then rcmaining unpaid. The rights of any subsequent pur~haser,
of any junior lienholder or of any other person or corporation,in all or any part of the premises shall be subject
to such right of the mortgagee to execute and deliver ~uch partial releases as aforesaid.
11. The entire debt secured hereby shall,: at the election of the mortgagee and w•ithout notice or demand,
become immediatefy due and pa~-able and rhis mortgage may be foreclosed in the event of (a) ariy default in the
pa}~nlent of any installment of principal or interest on said note or in the keeping and perfarrrtance of any of the
covenants ~r a~reements hereunder, nr (b) if the rnort~agor, without first obtaining written consent of the mcrt-
gagee t}~ereto, shali assign the rents or any part thereof, from the premises, or shall consent to the canceilation or
surrender of any lease of the premises or any part thereof, now~ existing or hereafter to be made, and having an
unexpire~' term of one year or more, or shall modify any such lease so as to shorten the unexpired term thereof, or
s~ a~ to decrease the amount of rent E~ayable thereunder, or shall in any other manner impair the ~•alue of the prem-
ises or the security~ of the m~rtbagee for the payment of the debt hereb}~ secured.
12. In the e~~ent of any foreclos~jre hereof---
(a) The mortgagor shall pay all costs and expenses thereof, including the cost of any title evidence and
reasonable attorne}~'s fees, ti~hich sums, if not paid before suit is commenced, shall be added to the
dcbt and secured hereby;
(b) The mortgagee shall w•ithout notice be entitled to the appointment oE a receiver to take charge of the
mort~aged property~, to col(ect the rents, issces and profits therefrom, anel to care for same, ~~•ithout
pro~•ing insolvenc}' or any graunds for extraordinary relief, and the mort~agor hereby con~ents to su~h
appointinent, and such appointment shall be made by t}ie court ha~~in~ jurisdiction thereof as a matter
uf right to the mortga~;ee and w~ithout reference to the adequacy or inadequacy of the security or to the
sol~•enc~• or insolvetic}° of the mortgagor.
13. The transfer of the rents, issues ar~d profits from the premisLS, here;nlbove made, is speci(ic in nature and
irre~•ocable. So long as no default eYists in the payment of said note or in the k~~eF,in~; and performance of mort-
glc~or's co~'enants hereitnrier, the mort~;a~;or rna~~ r_olleCt 1I1(~ retain th~ currentl~~ accruins; rents, issues and profits
as they accr;;c, hut in no event in advance of iheir normai accruai date. In the event, iio~i~ever, of any sucl~ de-
fault, m~rtgagon c~reby e~pressl~~ and irrf:vocabiy autho~ izes and empo~v°ers the mortgaqee, its abents or aktorne}~s,
at its election ancl ~~~ithout notice to mortga~;or, and as the ap~x~inted agent of mort~;a~or, to:
(a) Tal~e immediate possession of and maintain full control and management over the pretz~ises;
(b) Oust tenants for nonpaymc~nt of rent;
{cj I.ease all or any part of the premises on such terms as mortga~ee may deem advisable;
;d; :~take afterations ~r repairs w~hich mortgagee may deem advisable;
(e; RrcE~i~-e all rents and other income from the premises and issue receipts t}~erefor. Out of the amount
or amounts so received, mortgagee shall pay the necessary operating ex~enses, includin~ a reasonable
char~e for mana~ing the property, and shall then apply the net balance remaining in such manner as i~
may in its sole discretion deem advisable upon any sums, advances ~r any other portion c~f the indebted-
ness secured hereby, and then render any overplus tu mortgagor. :~iortgagee shall be accc,untable
only to the extent that such rents and income are actualiy collec:tecl.
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