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HomeMy WebLinkAbout0275 . ~ . . , , the hiortgagee ma~~, at its option, make such repairs as it deems necessar~~ and effectuate the required insurance, all at the expense of the i4lortgagor. An~~ amountpa id b~~ the Illortgagee on accaunt of such taxes, assesstt~ents, insurance premiums, liens, charges or repairs, with interest thereon from the date of paymer.t thertof by th~ Mortgagee at the rate of 8% per annum~ shall be a lien upon the property hereby mortgaged and shall be a debt secured by this martgage, repayable by the hlortgagor forthwith upon demand. 7. To pay to the Mortgagee v?hen due and payable the amount of al) taxes, including State of Florida income ta.res, assessments, public dues or charges levied or to be levied by law within the State of Florida on this mortgage or on the note or debt ar interest secureci hereby~ or on the Mortgagee by reasan of the ownership of this mort- gage or the note or debt ser:ured hereb~•, or on account of interest derived therefrom; but iE the amount of such taxes, assessments, public dues or charges mentiQneci in this paragraQh, tagether with interest on the debt secured hercby, shali exceed the maximum amount permitted by law to be paid for the use of mone~• in the State of Florida, then the Mortgagor shall not be required to pay any such excess; pmvided, however, that if the aggregate ia any one year of such interest and such taxes assese~d against the Mortgagee shall exceed such maximum amouat permitted by law to be paid for the use o# monEy in Florida, the Mortgagee may, at its option, declare the entire indebtedness secured hereby due and payable upon 60 days' notice. II such aption is exercised and notice given, then upon the expiration of such 60 days' notice, the entire indebtedness secured hereby shall be due at:d payable, and nonpayment thereof shall constit~te a deEault under this mortgage, entitling the Mortgagee to thc exercise of all rights arising by reasan of the happening of any other event of defauit hereunder. Upon the passage by the State of Florida of any law imposing payment upon the Mortg:.gee oE the whole or any portion of any taxes, assessments or other charges asses.~ed against this mortgage or the note or other indebt- edness hereby secured, or upon the rendering by any court of competent jurisdictian of a decision that an under- taking by the Mortgagor, as herein prnvided, to pay any such taxes, ass~essments or other charges is legally in- operative, then and in any such event the debt hereby secured, witbout deduction, shall, at the option of the I4lortgagee, become immediately due and payable, notw•ithstanding anything contained in this mortgage or in any iaw heretofore or hereafter enacted. R. To notify the Mortgagee at once of the commentement of condemnation proceedings of any character affect- ing the mortgaged property, ar an}~ part thereof. In the event that th$ mortgaged property is whoIly condemned, the Mortga?gee shall receive from the Mortgagor and/or the proceeds of such condemnation proceedings, the balance of pnncipal remaining unpaid on said promissory nate, with interest thereon t~ the date payment is receivect in Hartford, Connecticut, and all other indebteclness secwed by this mortgage, and with attorney's fees, court ~usts and all other expenses incuned by the Mortgagee in connection with such wndemnation. Tf, however, the mort~aged propert~• is partly condemned, the Mortgagec shall have the right and option to deter- mine the amount of such condemnation proceeds as it will require toward the reduction of the mortgage debt, with interest thereon to the date oE payment and, in addition #hereto, the Mortgagor shall pay to the Mortgagee all attorney's fees, court costs and other expenses incurred by the Mortgagee in connection with suCh condem- nation. The Mortgagee shalE have a lien on any money judgment or award given or made to, or in favor of, the ?4lortgagor as a result of an~~ such condemnation proceedings or as a result of any exercise of the right of eminent domain, whether or not the same is made the subject of court pro~eedings, affecting the property hereby mort- gaged, or any part thereof. h'othing herein shall be considered as a waiver of the right of the I~4ortgagee t~ be made a party to such condemnation proceedings, or any proceedings affecting the title to said property, or an}~ part thereof, and shall not obviate the necessity of making the Mertgagee party thtreta. , ~ 9. In the event all or any portion of the property hereby mortgagecl is inciuded in any drainage or other improve- ment district formed or authorized subscquent to the date hereof, or in the event said property, or any part thereof, is in a drainage or other improvement district as of the date hereof and subsequent to the date hereof the bonded indebtedness of such district is increased or the district is authorized to make additional assess- ments for improvements in excess of 15% af the assessment in force and efiect as of the date hereof, then in any of such events, the Mortgage+e ma~•, at its option, declare the entire indebtedness hereby secured due and payable upon six months' notice. If such option is exercised and notice given, then upon the expiration of such six months' ' notice, che entire indebtedness hereby secured shall be due and payable and nonpayment thereoE shal! constitute , a default under this mortgage and the same ma}~ be collected by foreclosure or in an}• other mannsr provided by law. However, if the Mortgagor pays the said additional assessment ir~ cash within said six manths' period, then the right of the Mortgagee to accelerate the debt secured hereby, for said specific nonpayment, shall ter- minate as to such default, without in an}- manner affecting the rights of the A4~rtgagee under any other existing ar subsequent default under this martgage or the note secured hereb~~. If s~1id assessment ma}~ be paid in in- stalments, then, at the option of the :~Ic~rtga~ee, the ~lortgagor may avail himseif of such privilege, and thereafter no right of acceleration shall be a~~ailablr to the Mortgagee unless a default occurs under said instal- ment payments and said defaulY is not cured in thirty days after its due date, in w•hir.h event, the Mortgagee may, at its option, elect to accelerate the rnortgage debt and proceed with the collection aiid,~or foreclosure thereof. 10. To pay promptly all instalments due others upon agreements of lease or conditional sale contracts of all fixtures, furnishings and equipment located on said proPerty. Should the Mortgagor fail to make any such payment, the ~lortgagee ma}•, without demand or notice, pay or satisfy the same and the amount so expended shall bear interest at the rate of 8°J'o per annum and shall be payable by thc Mortgagor to the Mortgagee upon demand and shall, with the interest thereon, be secured by this mortgage. All windmills, pumps, pumping plants and irrigation or drainage equipment used far the irrigation or drainage of said property, or for stock watering or domestic purposes thereon, all motors, engines and devices for the operation of sa~d windr7itls, pumps, pumping plants and irrigation or drainage equipment, alt refrigerator s}~stems, fire prevention and P,ctinguishing apparatus, all lighting, heating and ventilating fixtures and equipment, and ali motors, enginea. dynamos and boilers, now or hereafter installed i~i, an or about said property, irrespective of the manner of instal(ation, are and/or immediately upon the installation thereof, shall become and be fixtures and a parr of the realty and shall not be - removed from said propertr with~ut the written consent of the Mortgagee. ~ 11. To pay to th~ l~fortgagee promptly upon demand all costs, expenses and attorney's fees, including the cost of any title examination, supplemental abstract of title or title insurance, that may be incurred by the Mortgagee in anS~ proceedings, legal or otherwise, affecting the mortgaged property, ar any part thereaf, ar the title tnereto, or the validity or priority of this mortgage, or that may be incurred by the Mortgagee by reason of the failure of the '~'Iortgagor to keep and perform any of the c~venants or agreements contained herein or in said promis- sc~ry note. All such costs, expenses and attorney's fees paid by the Mortgagee shall bear interest frem the date of pa~~ment thereof at the rate of 8%a per annum until repaid by thQ ~~ortgagor and shall, with such interest, be a part of the debt secured b~r thia mortgage. 12. In the event of default in the payment oE the promissory note hereby secured, or any part thereof, or any rer.ewal or extension thereof, or if the ~iortgagor shall l~e adjudged bankrupt ur shall rnake an assignment for the benefit of creditors, or if any proceedings shall be taken against the Mortgagor looking to the appointment ~~~;~C 3 aooKi23 2"~3 - . . . .