HomeMy WebLinkAbout1314 2. "Co p~y the in~lebtc~li:e.~, hereby ~ecurc~i r~n~i intereHt thereun promptly on tlie da~~, ~pi~•itit:d for the 5xme
to i~ecome due and pA~~ablc:, and Also oii demand any other ir?debte~ine~ that may accrue ancl become due arid pa~•ablr~
to t}ie mortKrigee uncler the terms atyd Fro~~isions of this mortgage;
3. To keep the mort~ftigeci premises in gocxl repair; to neither commit. nor ~ui'fcr ~trip or ~~•tw~te on t}?t~ mort-
gage~l prernises; to obtain the ~ti'ritten cun.~eut of the mortga~ee before demoli~hin~, remo~~ing or m:iteri:tlly fllterinq
an~~ buildin~, stntcture or iniprorement no~~• or hereafter upon the mortgageci premise5 or txfure allo«~ing an}• such
building, stnicture or impro~~ement to be demolished, remo~~ecl or materially altered; not to commit tic~r sut~fer ttny
act 63~ ~vhieh the ~•tilue of ttie mortg:?geci premises ma}~ be impaire~cl; an~i not t~ ~•iolate n~~r ~rmii, the vi~lation ot ~n~•
la~v, by-la~~•, ordinance or cortract affectin~ the mortgageci p;c;mise~; not to ~~iolate nor sut~'er the ~~iolation r~f the core-
nant, nnd agrc~ments, if an~•, of record against the mortgi~ged premi~~;
To pa~~ before ~ielinyuent ur before ai~y penalt~ fnr nonpayment attuc~ht~s there~to atl tax~~, impositions,
~..~es.srncnt~, ~~~ater r~tes, and charges of e~•ery nature and to ~~'home~'er 5.ve~.sed thflt m~~~• no~~~ or hereaft.er be imposed,
]e~•ied or ~i+5c~.~ u~on or t~gainst the tnortKage~i premises or an~- part thereof, or upon th<~ rents, i~,ue~, incon.e or
prafit~ thereof, ~~+•hether an~• ar all of said taYes, a,sse:~smeiits or char~es be le~~ieci directl}~ or in~lirectl~• +~r tt~ escise taxes
or a~~ income tt~se~;
5. "I'o keep t??e bt~ildiuR~ ~inc~ impro~~ements non- standing c~r hereafter erected tipon the naort~.iged premise~
ancl an~~ .lilt~ :ill :apparatus, Fl\LUifS tlTlij tl~~Ul'~fT1k1IlCE'3 llOW or hereafter in or ~ttfichecl ±o ~xi~i buildin~5 or impro~•e-
ment~, insureci against lo~ or damage b~• fire :ind such other hazards a.5 the mo*tqaAee muy from time to time require,
ftil such in~urance to be in forms, in companies and in st~ms (not less than sufficient to n~•oid nn~~ cl:iim on the pf?rt of
tiie in•urers for co-in~ur~nce) satisfactor~~ to the mort~agee; that z.ll insurtince policie~ shall C)C ~lE'lci tind St111~I hP
for tlie benefit of an~t tirst pa~•able in ci~se of los.~: to the mor±gagc~e, and that ~tt le:~.~t fifteen da~~~ befori the expiration
uf e:~ch :~uch polic~~•, ~ ne~~• and sufficient polic~' co take the place of the one >o expiring ~li~ll be deli~~erE~l t.o the mort-
ga~E~~. '1'he murt~agor }iereb~• as5igns tu the m~rtgagee t~ll mone~'s rrccn•ert~hlE: tincier eacti surh polic~~, and t?grees
that in the e~•ent of a lo.» the timuunt collecteci under any polic}~ of in~tutincc~ on sai~l propert~~ ma~•, at the option of
the mortgugec, be applic~l b~• the mortgagee upon an~~ inclebtedne.~.~ un~!or o~lig~,tion secured hereby ~ind in 5uch order
a~ moi•tgagee ina~• ~let~rmine; or ~aici amount or anz• portion ttie: ~of mtd~•, at the opti~n of the mortg:zgee, either be used
iii replacing, repuii•ing or restori?ig the improti•ements partinll~~ or totall~• de~tro~•~.~c~ to a candition sati~factor~~ to stii~i
mort~aqee, or be relezise~i to the mortgagor, in either of ~shich e. ents the niortga~ee shall not be obli~ated to see to the
proper r;pplicution thereof; nor shall t}ie ainount su rele~sed or usecl be ~icemecl a payment on any indebteciness ~ecured
hereby. Thc: mortgugor hE~reb~• appoints the mortgagee uttorne}~ irre~•aubli uf the mortga~ix to :i:5ign each such
polic~~ in the e~•ent of the foreclosure of this mortgage;
(i. 1b ~~a~• till ~uins, the failure io px~• ~~'}iich mu~~ re~ult in tiie acc~ui5ition of x lieti prior to thc lien of this
~uc~rtg<ig~, beforf~ such :i pri~r lien nia~• attuch:
Thtit upon fnihire to compl}• ~ti•ith the prececiinn co~~en:,nt. ur ~~ith a?n~• ot' thf~ c•o~~enunt~ ~ind u~reement,~
u~ tu pa~-ment of tfixes, impo~ition., a»+e~m~nts, «~at~ r rfite~ find ~har~es, makin~ of rep~ir~ or maintenance of insur-
an~•e :i~ aforc~~aid, t}~e IllUl'tg,ligE'E', «'ith~ut prejuciice to an~• right~ gi~•en under ~ub,equent p~tr3Krf?ph~ herein, mat•
make ail~~unce~ to perform the same in behalf of the mort~tigor, :inel the mort~a~or 1?ereby~ u~;ree~ to repay ~11 surns
~u :ui~~ancecl in hia t~ehalf, on ciem<inci, ~~•ith interest ~rom the ~late ~cl~~uneecl i~t the r~ite. of eight per centum per annum,
and all ~um~ ~u fld~•~inced, ~~~ith intere~t xs afc~re~siil, shall be immecliztelti• due ancl p:i~~able und be ~eeured hereby,
tia~~ing the benefit +~f ttie lien i~ere~y creuted, ~ncl of its priorit~~, but no suct? ad~•ar.ces shfill br deemeci t~ relie~~e the
rnurtga~*or irom ~nti• clefuult heret~nder or impair ~n~~ rig}it or remc,~l~~ c•onsequent thereon, ancl the exc~rci~e of the right
to muke ad~•ar.c~es grante~l in this paragraph shall be optiontil ~~~itl? thc mortg<~~;ee and not obliqutnr~•, an~I the mortgagee
~hci]1 ~tot in .tn~~ case be liablc to the mort~a~or for failtire to e~erci=E~ an~~ ~uc~h ri~tit ;
g. "I'hat the mortg+.i~ee ~hall be ~ubru;ated for furthc~r ,ectirit~~ to ttie lien, ulthough relea~c~l of recor~l, of fln~•
:in~l all enct~mbrance~ p:~ici oiit af tiie pra•ee~ls of ttie loari securc~~i hy ttiis m~~rt~;aK~;
9. 'fhat, ~;hilE, tliere i~ no defatilt in tlie performtinct~ or o}~~er~•~i~ce of an~• of th~ c~o~~enant5 or a~;reements
lu~r~ in eontained, t}ic~ tiiort~agor 5hall ha~~~ t}ie pri~~ilege of ~~ollc~etin~ .incl i•c~r~i~•in~; all rc~ni~ aeeruin~ uncier lea:=cs or f
~•ontra~~ts of ten.inc~• for tlie niortga~ecl prc•n?i~e~ or anV p:ert thereof; F
10. "I'hnt, if an~~ tlction or proeee~3in~ be t•ommen~E~~l !c~ceptin~ un action to foreclo~e thi~ mortgage or to ~
roll~~c•t the cleht hc~reh~~ ~ecured), to ~+-hich action or procEedin~ the mort~~?gee i~ macle a pact}• }n• rc~~.5on of the exe-
<•utioti ~f thi~ mortg,~ge or the n~~te ~ctiic}i it sect~re5, ~~r in ~~-hich thE~ rttort~agee ~ieerns it nece»ar~~ to defend in c~rd~r
to uphol~i the lien of ttu, murtg~l~e or the priorit}• ±tiereof or po~•e~~ion of •ai~l mort~ageci premi~e~, all ~ums pai~l or
incurrE~d b~• the mortgagee for cuunsel fees an~l other e~pen~e:~ in ~uch uction or pro~~ee~aing ~l~all be rep~ii~i hy~ the mort- s~
~;,i~~;rn•, tc~~;ethf~r ~~~it}i ~ntrre:~t thc~re0i1 fl~om clate af ~>u~~ment 1~~~ th~~ mortK~i~;«, a~t t1i~ ratc~ ~,i ei~ht per i~entum per ~
,inuum, .?n<l all ~uch 5ums ~in~i the intere~t thereun sh~ill hE~ ;mmecii~tE~l~• due .in~l pa~~ahle and be ~e<~uretl hereb~-, ha~•in~
thc~ l,ene(it ot the li~~~? herch~~ c~eated and of its priorit~~;
11. '1'hat cin~• iin~i .~ll a~car~l~ heretofore m~,~l~~ zind }~erenftt~r tu be m~~~k~ b~~ thc Cit~• of Fort ~ierce
r~r .u~~~ municipal, c•uttnt}•, ~t~ite or fedc~r..l authorities to ttie pre~ent an~l zill ~,iY~se~~nent on~rter~ oE the ~~remi~e~ c~o~•erec~
t}ii~ tiic,rtgu~;c•, itic•lu~?in~; un~~ u~~~arcl or <s~~~ards n'hether for a takinK af title te, po~ses~ion of, or an}~ intere~t in, the
rnurt~a~~~l prc~r~ii~c~, or r~n~• p.~rt therec~f :incl any a«~ard or a~ti'~irci, rerei~~ecl for damage:: sustaineri b~~ the mortgagerl
premi~e~ or an~~ part ih~~re~~f or for ~in~• charge nr c~hanges ~~f ~ra~le of ~treets:~ffectin~ s€ii~l premi~e~, tire hereby assigned
tn the mort~;uHE~F~; anil the mort~<ig~e, art it~ uEstion, i~ tu~reby auth~~rizE~ri, ~lire~~te~l ~nci empo~ti•ererl to collect and receive
ihE~ pro~~t~t~ii~ of un~• ~urh :«ti'ar~l ~~r a«~artl: from the :ittt'r~oritie, niakiu~ th~~• ,:i~7~c~ anrl to gi~'e pr~~per rcceipt~ ~~ncl acyuit-
ian~•E~~ thE•ret'ar, an~( tu appl~• the ~arue to~~~nr~l the pu~•r~ient of th~~ umount o~t'in~; un uz•count of the ntortga~e debt,
nut~cith~tanclin~ the i.ii~t thut tiie amount o~~~inK on t~reouut of the niort~uge clebt ni~t}• not bc tlien ~lue an<,1 payable;
un~l !hc~ mortg.thnn c~~rE~}~~• ~•u~•cntint~ ancl a~;rc~e.~ lv .inci S:It~l IIIE rilUCtf;a~ee, t~pon rer~uc~t b~• t}ie mort~ugef~, to make,
~~xF~~•i~te un~l ~leli~•er xn~• .in~l .~ll ,is~i~nment~ an~l other i:i~trttment, suffi~~it•nt ior thc }iurpo~~~~ of <~.~.~igning the afore~:~id
~t«~ar~l or .i~ti~ur~i~ tu th~~ n~un~t~;u~;c~e fr~~E~, ~•lt~;Lr and ~ii,ctiar~e~l of xn~• anti ail c~ncum}_irnnrE~S of a:~v kin~l or nature ~~•hat-
~a•~•~~r:
1'?. "1'~iat an}- j:~ilur~~ t~~ c~~~r~•i~f~ ati~~ ri~;tit hrrt~unii~~r ~h:~ll not cor~ytitutc r~~>r t~e ~•unstn~c~d ~i~ ~i ~~'ait•er c~f that
r~i~t:t ut .in}• ftitur<~ tictie;
13. '1'h<it thi~ murt~ake ~•reate~ <•untinuin~; lien t~~ ~crurE• thc~ full sn~l tina! pt~~•ment uf thc• ~IE~t,t~ }~eret~~~ serurzd
i~usl all t,ihc•r o}~li~:~tivr~s ir~~pci;e~l herr_~h~~ anrl h~~rntif?<~r uri~in~.
.AU«', if thc~ pati'ment~ are maclE~ ~es ~yrot•idc~:l ttt;d ull tha~ furi~K~~in~ c«~•Finants an<I ttgrc•emr~nt5 are performed
:in~l ~;b~~en•~~<1, thi~ m~~rt~a~;e ~hall l~c null an~l ~~ui~l .~nd ~hull i~~ release~l at the c~rit of the mortg~gor, which cost the
n;~n~tg,iK<~r ~~~rt~r~~ t~~ p:iti•; t~~it upvn nn~• ciefault in the pa~•ment of ttie ind~~bteclne~~ liereby ~eeured or of any in~tail-
mF~nt thc~re~uf r~r uf intr~rc•:~t ih~~r~~~~n, a.~ thE~:' _~~~'~~rall~• 1>f~c~~tnr ~iu~~, or u~~on an~• ci~~fault in the perfurm:snce or ob.~ervance
BUUK~~ - ~