HomeMy WebLinkAbout1576 1~liis mortgage is made, hoa•e~~er, subjea to the follo~~ing coti~enants, cun~idons and a~reen:ents:
l~IRS'1': That the mortgagor h4reby agrees and covenants to pay the inter-rst 1R~{ i IlRC1~1I ~leC2l~y s~~ure~a i rc~rnptl~~
n•hen due and if default be made in anp part thereof, or in t;ie payment of any other n~onies hereby sccure.l, th~n the
same shall, without detnand if mortgagee shall ele~-t, becomP due and pa}•able at oace and th~ i:~or.~~a~e mi~~ ~e f~recloscd
in thc manncr provided by law.
SEC:UND: That the mortgagor agrees to pay as ihe same be:ome duc and pa}'ab:e all ta.~c~, asscs;tr.ents, 3ncl othcr
char~es iinposed by law (including ditch, canal, reser~•oir, or other a~ater charges, taxes, or assessr..ents} upon said
premises or any patt thereof including the mortgagee's interest thcrein and upon t4iis mortga~;e or thc no,~ or indchted~~ess
secured hereby, provided tbat should the amounts paid for the m~ctgagee under this parsgraph for su:h tixes, assessments
and other charges together with the interest on the indebtedness elceed the highest interest rate perm;tted b}~ lav~~ on th:
indebtedness then oa•in,g, mortgagor shal! not be liable t~~ pa}' an}~ of such excFss o~~er the highest law•ful r~te. In th~ c~•ent
of the passage, after tht date hereof, of any law by the State of F[orida, deducting from the value of land fur the rurpose
of taxation any lien thtreon or changing in any ~•ay the existing lan~s far tne taxation of mort~lges or deb;s secured by mort-
ga~e for state or local purposes, or the manner of the cotlcction cf .,ny such taxe+, so as to af~ect this n:ort~.igc, the hol.,er of
this mortgage and of the debc which it secures, shall have the right to gi~~e six (6) mon,hs' written noti:.e to the ou~r.er ot said
land requiring the payrr,ent of the entire indebtedness sccured hcreb}•, and it is hereb}° agrecd that if such net:ce be ~:~~~n tl~e
said ind~btedness shall become due, and collectible at the expiration of said six (6) months.
~'HIRD: That the mortgagot agrees to pay all other debts that arc noti~~ or may br.-^me Iiens u~an or charges a~ainst
said p:emi;es, and not to permit any lien of any kind to accrue and remain on said pre:nises, or the ~mpro~~ements therean,
which mi~ht takt precedentt over the lien of this mortgage. The mortSagor furtl~cr agrces r.ot to aeate any lien or. said
premises junior hereto ~unless the person entit(ed to the benefits thereof ~nall ha~•e agrcecl that the time for the payment of
the indebtedness hereby se~ued and the manner and amount of payment thereof and the benefits of the security afforded
hereb}~ may, without eonsent of such p~rson and without any abligation to gi~e notite of any kind there+o, be extended,
reextended, acceierated, suspended and refunded on anp terms ~vhatsoc~~er witi~out in any inanner affecting the priority
af the lien hereby created as security for the pa}~ment of th~ indebtec:ness secured h~reby ar any obligation substituted
therefor or iss~~ed ro rcficnd same.
I~OURTH: That the mortgagor agrees to kcep said premises and improvements ihereon in good condition and repai:
an.i not to commit or suffer w; ste thereof ; to operate all lands, whether impro~~ed ~,asturrs, orctiatcfs, grazin~, tiRiber, or
crop lands, in a good and husbandmanlike manner in accor3ance w~ith accepted principles of sound a~ricul±ural and forestr~•
practices; to take all reasonable precautions to control «•ir.~l a::d ~va;er erosion; to fertitiz~ improve~l pzst~res, if an}~, where
neces~~rt~ to rnaintain a good stand of desirable ~rass~s; to pcot~ct orchards and timber, if any, b~- reasonabl~ prccautions
a~linct ioss or damage by fire including the main,enance of appropri3te fire breaks; and c~ei;h~r to remrn•e ri.~r permit the
re,~ioti-al of any timber, buildings, oil, gas, minera(, stone, ruck, cla}~, fertilizer, grav~l or top soil zvithout the prior «~ritten
cor,~ent of the mortgagee. The mortga~ree shall have the right to inspect the mort~age:i ~:r~~er'}~ at suc'.i rcl;onable t~mes
and inten~als as the mortgagee may~ desire, to determine the mortFagor's compliance n•ith the =o~~enants contained in an}~
clausc af this mortgage.
PIf~"TH: 'I~hat the mort~a~or agrees to ~rocure, maintain and delirer, premiums paid, to the mort~a~ee policies of
ins~~ranc~ against such hazards on the buildin~s now or hereafter located on said premises :a.s the mortga~ee may Fcom :ime
to tilne rec~uire, in such companies and in such am~unt and form anci n~;t1i sr.ch loss paylble claiises ss shall be satisfat-
.or~~ to the mort~a~ee. The-ntortbagee is autharized to as>i~;n an1 deli~•~* said policies to any p~urchaser of this morEg.ige or
to the p?uchas:r of said ptemises at any forectosure sale. In event of lo>s d~e n;ort~agre is exprerl~ :?uthurizcd and em-
po~.~~cred to s~ttlP or compromise cla~ms i:ndcr said ~olicie~, and the proceeds from said policies as well zs any other policies
procured by the mortga~or shall be paid to the mortgagee who at its soie discretion may applj~ samc or any part thereof on
acc~~::n; cf the indebtedness secured hereby- a~heth:r o: not then duc and p~}~able, or m:~y apply the same or am~ ~~art thercof
to~vards t~ie alteration, reconstruction or repair of said buildings, either to the port~on dama~ed or any other j urtton t}iereof,
oc ref~~se same to the mortga~or. Sach application or re!esse shall not cure or ~~•aice any default or notiee of default here-
un?:r or invalidate an~ act done pursuant to such noti:e.
SIXTH: That in the event the mortgagor shall iaii to f ra_-ure, r,.aintain and deliver the insurance policies, preni~~::ils
ptepaid, or co psy, as the same become due and pa}'361e, any tax or assessment imposed by law upon s:iid premises o, an}'
part .hereof, or the no;e, or ir,debtedness secured hereb,, or to ray an}• licn, claim or char~e a~ainst such Yremise~ ~~hich
mi~hc take prec~dence over the lien of this mortga;e or to comply~ a~ith t!:e pro~~isians of paragraph Fc~r.h hereef, the
mortgsgee rnay, without no!ice or demand, insure any of the buildings and pay the cest of such insurance and pay any~ of
said taxes, ass~ssments, tirns, ctaims and charges, or any part thereof, or redeem from the sale of said ~remises for an~
~ taxes or assessments (irregulatities in the lt<ry or imposition of any tax or assessment being expressly waived), or redeem
from the sale of said premises resulting from the enforcement of any such lien, claim ec ~.harge, or expend such sums as
~ may be necessary to correct the failure of the moctgagor to comply with the provisions of said paragraph Fourth, and the
mortgagor hereby agrees immediately to repay t4 the mortgagc.~e, w~ithaut notite or demand, any sums so paid a~ith interest
thereon at the same rate as speti6ed in the note secured hereby on the principal thereof after default and maturity, and a!1
sums paid by tht tnortgagee a-id~ interest shail become a part of the indebtedness secure3 hereby, an~ in defauft of
immediate repaymrnt thereof b~ the mortga~or the whole indebtedness seci.~red hereby shall at the option of the mortgagee
become due and payablt forthwith ~•ithout notice.
SIX'fN«,A: In t~t?e e~nmt Lt~~t the ~artE!~d Pr~a~e"irer~ er a~t- ^,rta-~ ~~,rir^-~*, ~~r
~old or aa~vt~re~d prior ta the tirsar t,r:e indebt~odne~~ ~eecured hsrer~y Mzall have oeeri
pa~:. . " 1 a e:? ~ `,i : , i*~eisbtedne~qs acsa~:r~d ~r,, t;.i~ r~or; ~+~r,s ~~iJ.l~ ~t ti~e
~t.~'.r~ or t.11ti ,r~~~~i~i ?'AC.°(~~ss: :'!i~ ~i.Y~:~ F~f:}~~'li7~f',~
R ~~5 374
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