HomeMy WebLinkAbout1350 2. To pay the inac:bteciiit.~; hereby :secttreci an~l i~rtere3t. therc~on promptl~• on ttie ~ia~•~ specifit~d for the samt~
to become due nnd payable, an~l t~l~so on demand any other inclebte~inc~s that may accrue and become ~iue and pa~~able
to the mortgu~c~ under the terms and pro~~isions of this mortqr~ge;
3. Tc? kc~ep tt~e rnortgageci premises in Roai repair; to neithcr commit nor suffer strip or ~vr~te on the rnart-
gagc~l prcinise~; to obtain the ~~•ritten con~ent of the mortqage~e before demoliahing, removinK or materially eilterin~
:in~• buil~iing, ~tructure or impro~~ement no~ti• ar hereafter i?pon the mort~aged premises or ~fore allo«•ing any such
buildir~R, strueture or improvernent to be demolishecl, remo~~c~ci or materiall,y alterecl; not to ronimit nor 5uffer ~n}~
art b~• ~vhich the ~•:iiun of the niortKflge~1 premi:;es mr~~• be imp~ired; ancl nut to ~~iol:ite nor permit. t}tic~ ~•iolation of any
la«•, b}~-la~ti•, ordin:~nce or contr:ict atTectin~ the mortK~.~ed premises; noG to ~~ioltste n~r stit~er t,tie viol~~tion of ttic: co~•c- :
nants tsnd ~Krc~ements, if any, of record ag~inst t~ e mortgagec3 premises;
To pay before delini{ueut or before any penalt~v for nonpayment attaches ttierM~~ all ta~e~, impositions,
n.~.>e.sments, ~~•ater rates, ~nd charges of e~•er}~ nature and to ~vhome~•er ti.~:,es.~ed ttitit mny now• or }icrrtift.~r be impc~ed,
le~~ied or x.~~es.seci tipon or against the niortgaged premiyes or uny part thereof, or upon the rents, is.~ue,, income or
profits thereof, ~~~hether an~• or all of sxid taxes, asse.~ments or char~e5 t~ le~•ieci dimetly oi• inclirectl~~ or as excise tate5
or as income taxes;
b. 'I'o keep th~ buildiiigs ~ind impro~•ement,s no~~• standin~ or hereafter ereet~~cl upon the mortgagecl premises
uri~l any :~nd all appuratiis, fixtures and eppurtenances no~~- or hr~?•etifter in or xttacheci to saicl htiildinqs or impro~~e-
ments, in,ureel against loss or damage by fire and such other hazflrcls ~.5 the mortAKgee may from time to time rec~uire,
till auch in,ur.ince to be in forms, in companies and in sums (not leas than suffic~ient to ~void any clftim on the part of
2he ir?5urer~ for co-in.urance) satisfactory~ to the mortgagee; tl?at all in~ttranc~~ policie~ shall be hf~l~i b~• t~nd shnli be
for the t>enefit of and fir~t pii}•ub]e in c~e of la~ to the mortga~ee, ancl that at lea~t fiftecn cl~i~~~ before the eKpirution ~
of euch such policy, a ne«- t?nd sufficient polic~• to take the place of the one ~o c~xpiring shall be cieli~~ere~ to the mortr
Ka~ee. "1'lie mort~ngor hereby a-~igtis to the mortgagee all moneya reco~•erable un~ler each such polic}~, and ~grees p
th~~t in the e~~ent oi a loss the timount cnllectecl unaer un;~• polic~• of ;nsur~nce on ~ai~l propert}~ ma1•, xt the option of
the mortgagee, be t~pplied b~• the mortgr~gee upon an,y iudebteclne~ and/or obligation ~ecured hereby an~l in 5uch order
mortgtigee ma~• determinc; or ~id amount c~r an}~ poriion thereof ma~~, a~ the opiion of the mort.gagee, either tye~ u;eci
in replacing, repairing or resturing the impro~•ements pt~riially or totally de5troyE~ci to a condition 5xtitift~ctory to :?aid ~
mortgagee, or be releu~eci tu t.he mottgagor, in either of ~~~hicti e~•er.t~ tlie mort-gx~ec~ shaill not be obli~utecl to see to the ,
~roper upplication thereof; nor sh:?11 the amount so relc:a.~ed or usecl be ~3cemc~! u pxy~meut on any indebteclnes~ securecl
hereb}•. 'I'he mortgag~r hereby appaints the mortgagee attorne~• irre~~a~nble of the mortgugor to a.~sign eurh such
p~~lic~• in the e~~ent of the foreclo~ure of thi~ mortgage;
li. To pa~~ ail sucn~, the ffl:lw~e to pay «hich m:iy result in the ~icyui~ition of <z l;eu ~rior to t.he lien of this ~
~
murt~a~e, before suc•h u pr;or lien ma~~ tittach;
7. `I'liat upon failt~re to comply «~ith the prececiin~ c~u~-enntit or ~rit.h ttn~• ~af the cu~•er.:int, an:l a~r~ements
ll~ i(1 ~)Li\'R1fll~ Uf tR\P~, impu5ition~, SS.~iE~yITlPlli~~ ~~~xter rtites .Lilf~ ('tlill'~t~, illnking oi 1'C~~il['ti ur m:~intenl3ltt~e of insur- ~
.ince ~~.5 afore~aid, the mort~xgee, ~~~ithuut prejudice to an~• riqhts git•en under subsequent pxrugraph5 nerein, may
Ill:iiiE~ acl~~r~nces to periorm the same iii behalf of the mortga~or, and the mortg~~~r hereb~• a;ree, tu repa~~ ~Lll sums
so :icl~~anceci i~i hi:. betialf, on cle:~innd, «•ith interest frorn i}?e date ad~•ancecl at the rate of ciqht pex cer.tum per annum,
~in~l all st:ms ~o ad~~ance:i, ~citli intere;t t?~ afore~aid, slisll be immecliatel~• ciue unci pa~•xble :?nd be securecl herebv,
h:i~•ing thc: benefit of the lien hereb~~ created, an~l of its priorit}•, but no such nd~•ance, shall be deemecl to reiie~•e the
mort~agor from an}~ clefault hereunder r~r impair aii}~ right or remE~cly con~equent thereon, t~na the exc~rci:se of the ri~ht.
tu make :~d~•ances grantec! in thi5 ~;~irngraph stiall be optional «•itii the mortgagee ancl not obligatory~, an~l thc: mortgugee
~hall not in ~in~• ca~e be liable to the mortgaqor for failure to esercise an~• ~uch right;
8. "1'hat t}ie niortg~~.~ee 5t~all be subrogatecl for further 5eettrit}~ to the li~ri, altl?<~ugii rele~~~.c>el of reeorcl, of an}-
.in~i ~iil encttrnbru.ice~ paid otit of the proceecls of the loati ~ecurecl }~y this mortKa~e;
9. 'l'hat, ~~-hile there is no defn~ilt in the perfurmance or ob~er~•anc~e of ~n~• of the cocenants or agreements
herein contained, the mortg~igor 5hai1 hu~~e tlif~ ~ri~•ilege oI collecting und re<•ei~•inK zall rc~nts ~cc•riting uuder leases or
~~ontrac•t, of tenan~~~~ for tl~e mortgagecl premises or an~• g:~rt tliereof;
10. 'l~hat, if an~• action ur proceeding be commenc~ed !excepting an ~sction to foreclo~e this mortgage or to
~•oll~~c•t thE~ debt heret~~~ 5ec~umei), to ~~•hieh a,etion or proeeeding the mortq~zgee i5 mtide a part~• b~~ rc<~.~on of the exe-
c~ution c~f thi~ mort~~ge or the notc: ~shic•h it secure~, or in ~~~hich the mortgas;ee ~leems it nece~~ar~~ to clefend in order
to uphoid the lien af thi~ mor~g~~Ke: or thc priorit~~ tt~ereof or ~o~.;e~~ion of ~aid murtga~ecl premises, all 5urr2s paicl or
in~•urrc~d b~• the mortgagee fur counsel fee~ a~d other expen~es in ~uch .u•tion or pruceerling ~hall be repaid hv the mort-
s~;u~ur, tv~{ether ~sith interest thereon fram ciate of pa~•ment b~• the m~~rtq~i~;ce, <?t the rate of eight per centum per
,inntim, und all 5uch Surns an~l tt?e interest thercon ~1?all kre immeciiatelti• due un~l p~s~•able and be ~ectirecl hereb~~, ha~•ing
tht~ henefit of the li~n hereb}~ ~~reated ~~ncl oi its priority;
1 L 'I'hat un}~ ancl ull an~arcl~ heretufore made and hereaiter t~~ be maeie t,~• the C'ity~ of FQrt Pierce.
„r ~iu~~ m~iniripal, c•o~.~nt~~, ~tate or federal authorities to the pre~ent ancl all ::ub~ec~uent o~~~ners of the premi~es co~-ered
h~• thi~ mortK:iqe, inc•tudin~ an~~ a~card or a~~•ards ~~•hether for a taking uf title to, po~.~es.~ion ~f, or finy interest in, the
r7~~>rtKa~ed ~>remi~e~ or ~in~• part tlzereoi an~l fin~• a«•ard or a«-ards rec~ei:~ed tor clama~c~, su~taine~3 by t}ie mortgaged
}~i~f~mi,e5 or an~~ part ti~~~reof or for any ~•han~e or chfinges of ~rade of streets aH'ecting aaid premises, are }iereb}~ assigneci
t~~ th~ murtga~eE~; an~l the mort~agee, at it~ uption, is hereb~~ a.uthorized, ciirected and empo~z•ered to collect und receive
t},c~ ~~rcx~f•ed~ of un~• ~tic~h an~ar<1 ~r zi«-a:cls from the ~uthorities makiriK thc~ :~ame uncl to gi~~e prop~r receipts and acqtiit-
tuncc~~ thc~refor, an~i to aippl.: the same to«~.~rd the ~~zi~•rnent of the ~,rnount ~7~.~ina on ac~count of ttie ?nortgi~,ge clebt,
~iot~ritl~-tan~linK the f<<et tlirit t}ie timotint o«-iitg on aecount of the mortgage debt ma~- not be then clue and payable;
uncl the~ mort~a~r~r h~~ret~ti• c~~•enants itnd .igrces to an~l n•ith the mortgagee, t~pun reqite~t b~• the mort~ugee, ta make,
c~rE~eute anct ~lf~li~~er fin~• <in~l all :~.,.,i~nment, an,l other in~trument. ~uf~ic•ient for the pttrpr»e c~f a:;sigaing thr aforesaid
;i~ti~ur~l or u~~~arcis tu thc~ murt~agE~e fr~~e, clear and ciiscti~nrge~i of an}• und all encumbran<•es of an~• kind or nature «•hat-
~~x~~•c~r:
1'?. `I'h:tt ~n~• fui;ur~~ t~~ c~zcrri~e .uiy ri~}:t li~~rc~un~~er ~h~sll not ~~on~titute nor be constrtted as a«'ai~~er of that
ri~h[ .st un~• future time;
13. "1'hxt thi5 mortg<i~e ~~reates u c~~ntinuin~ lien t~~ ~ecure thc full arul final pa~~ment ot the clebt hereb~• ~ecured
an~i uil other ubligations impv~ed herel~~• :incl hereafter uri.in~;.
~()1l', ii the pu~~cnent~ .ire ma~ie pro~•idf~d and all thE~ ioregoinK co~•enants and agreernent~ ~re performed
an~l oh~~r~•ett, thi; mort~{agc• ~hull be null :inii ~~oid and ~hall be rele~G~ed ~t the co~t of the morigagor, «•hich ca~t the
mortgaq~~r a~ree, to ~:.i~•; })tlt L1p011 an~- default in the pa~~ment ofi the indebtednet5 hereb~• :>ecured or of any instali-
me~nt thereul or uf i~tc~re5t thc~reun, a~ thc•~~ ~e~-c~rall}• become di~e, or tipvn un}~ clefault in thc~ perfermance or ~bser~~ance
~ n~~~t~~~ i~V