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Home My WebLink About1641 2. To pay the indebted.ne~a hereby eecured end intereet therean promptly on the days epecified for the ~ame to become due and payable, and aleo on demand any other indebtedne~e that may acerue and become dse and payable to the mortgagee under the terme and proviaions of ~his mortgage; 3. To k~ep the mortgaged pretxtieem in good repsir; to neither commit nor aiiffer strip ar waste oti thP mort- gaged premises; to abti??in the ~a~ritten conse~at a~' the mortqagee before :iemoliehing, t~em~ving or materiatly ,~lt~ring any building, etructure or impmvement now or here~fter upon the mortgaged premis9es or befare allowing any such building, atructure or improvement to be demolished, removed or materially ultered; not ta commit nar auf~er any act by whiet: the value af the mortgageti premises may be impaired; and not to violat.e nor permit the violation of any law, by-law, ordinance or contract affecLiug the mortgaged premises;'not to violate nor aufter the violation of the cove- nants and agreements, if any, of record aga.inet the mortgaged premises; To pay before delinquent or before any penalty for nonpayment attaches thereto sll taxes, impositions, asse~unenta, water rates, and charRes of every nature and to whomever a~d that may uow or hereafter be impo~eci, le~~ied or assea9ed upon or against the morLgaged premises or any part thereof, or upon the renta, isaues, income or profits thereof, whether any or all of said tares, asses.4cnents ur charges be Ievied directly or indirectly or as c~eise t.axes or as uxcome taaces; 5. To keep the buildings anct impror•ement8 noK~ standing or hereafter erectedl upon the mortgaged ptemises and arsy and all apparatus, fixtures and appurtenances now or hereafter in or attacheti to said buildings or improve- ments, insured against loss or damage by fire and such other hasards as the martg~gee may from time to time require, all auch insurance to be in forma, in eompanies and in ~uma (not less than aufficient to a~oid any claim on the part of the insurers for ro-insurance) $atiefactory to the mortgagee; that all insurance policies sha.ll be held by and shal! be for the benefit of and firyt payable in cas+e of losa to the martgagee, snd that at least fifteen days E~efore the expiration of cach such policy, a new anci su~cient policy to take the place of the one so expiring shall be delivered to the mort- gagee. The mortgagor hereby asaigns to the mortgagee all moneye recoverable under each such policy, and agrees thAt in the event of a toss the amaunt collected under any poliiy of insurance on said property may, at the option of the mortgsgee, be applied by the mortgagee upon any indebtedness and/or obligation secured heteby and in such order as mortgagee may det+ermine; or said $mount nr any portion thereof may, at the option of the mortgagee, either be used in replacing, repairing or re~toriag the improvements p~rtially or toLall,y destroyed to a condition satisfactoty to stud mortgagee, or be released ta the mortgggor, in either of which events the mortgagee shall not be ob~igatecl to see to the proper application thereof ; nor shall the amount so relear~ed or used be deemed a payment on any indebtedness secured hereby. The mortgagor hereby appointa the mortgagee attomey irrevocable of the mortgagor ta ~ign each such policy in the e~•ent of the forecIosure of this mortgage; o. To pay alt sums, the failure to pay whi~h may result in the acquisition of ~ lien prior to the lien of this mortgage, before such s prior lien may attach; 7. That upon ia~la~re to comply with the prececiing co~~enant. or ~~ith any of the co~-ensnts and agreement,s - a.s to payment of taxes, impasitions, ~.s~9essments, water rates and charges, making of repairs or maintenance of insur- nnce as aforesaid, the mortgagee, without prejudice to sny right,s given under subsequent paragr~phs herein, may make aci~~ance~ to perf~rm the same in }~ehalf of the mort.gagor, and the mortgagor hereby agrees to rep~y sIl sums so ac3vanceci in his t~ehalf, on demand, with interest from the date advanced at the rate ~f eight per centum per annum, and all sums so advanced, ~~ith interest xs afore.gaid, shall be immediately due and payable and be secured hereby, ha~~ing fhe benefit of the lien hereby created, and nf its priority, but no such advances sha11 be deemed to relieve the rnortgagor from any default hereundsr or impair any right or remsdy conaequent thereon, and the exerc~se of the right to make ad~•ane~ granted in this paragraph shxll be optional ~sith the mortgs?gee and not obligatory, and the mortgagee ~hali not in any case be liable to the mortgagor for failure to exercise any such right; ThaL the mortgagee shall be subrogated for further security to the lien, althaugh releaseci of recard, of any ~ind all encumbr~,ne~ paid out of the proceecis of the loan secured by this mortgage; 9. That, n•hile there is no d~fault in the performance or observance of any of the co~~enants or agreements herein containecl, the mortgagor shall have the privilege of cailecting and receiving a11 rents accruing uncier leases .~r contracts uf tenancy for the mortgaged premises or any part thereof; 10. That, if any action or proceeding be commenced ~excepting an action to foreelose this mortgage or to c•ollect the debt hereby secured), to uhich acfion or proceeding the rnortgagee is made a part.y~ by reason of the ex~- ~ cution of this mortgage or the note which it secures, or in ~vl~ich the morf.gagee deems it necessary to defend in or~er ta uphald the lien of this mortgag~ ~r the priority thereof or posseasion of :3aid mortgaged premi3es, all sums paid or incurred by the mortgagee for counael fees and other expen.ses in guch ~ction or proceeding 9ha11 be repaid by the mort- ~agar, toAether with interest thereon from date of pr~yment by the mortgagee, at the rate of eight per centum per xnnurn, and all such sums and the interest thereon sha1I be iramediately due and payable and be secureci hereb~~, having the benefit of the lien hereby creAteci and of its priority; I 1. That any and all a«•ards heretofore macie and hereafter to be made by the City of Fort Pierce r.~r any municipal, county, stafe or federal authorities ta t}ae present a~~d all subsequent o~cnera of the premise~ ~overed by thi~: mortgage, including any award or awards whether for a taking of title to, pos~ession of, or any interest in, the mortgageci premises or any part thereof and any award or awards receiveci for damages sustained b,y the mortgaged premises or any part thereof ~r for any change or ehanges of gracie of streets affecting said gremise~, are hereby assigneci to the mortgagee; and the mortgagee, at ita option, is hereby authorizeci, directeci and empo~vered to collect and receive ~ the praceetls•of any such aw-ard or awards from the authorities making the same and to give proper receipts and acqui~ tances theref~r, and to apply the same t,oward the payznent of the ~.maunt acving on account of the mortgage debt, noh~-ithstandin~ the fact that the amoutit awing on accaunt of the mortgage debt may not be then due and payable; _ ~ and the mortga~or hereby co~•enants and agrees to and with the mortgagee, upon request by the mortgagee, ta make, G ! execute ancl deli~•er any and a!I pssignments an~3 ether inetruments sufficient for the purpose of assigning the aforesaid ~ uti~~~~rd or aw•arda to the mortgagee free, clear and discharged of any and all encumbrances uf any kind ~c nature whstr ~ ~oe~~er; ' ; t2. That an,y failure to excrci:,e any right hereunder shall r.ot conetitute nor be construeci as a waiver vf that ~ t ri~ht at any future time; ~ 13. That this rnortgage creat~ a r,ontinuing Iien to sECUre the full and final pa}nnent of the debt, hereby secured and aIl other obligations impc~ld hereby and hereaft~r arising. ~ \U~'~' if the sy°ments are made as Fc~vided and all the for~ oin covenanty and ~ ~ p P ~ g agreements are perfarmeci RA(~ observed, this mortgage shaU be null and void and 5ha11 be released at the cost of the mortgagor, ~chich cost the mvrtgagar agrees to pay; but upon a,ny defai~it in the payment af the indebtedness hereby secured or of any instslt- ment thereof or af interest therecn, a.g they severaily become due, or upon any defgul~t i t e rfo ~t~eervanc~e aoaK ~~~;J~ ~