HomeMy WebLinkAbout1824 ~ 65[1t?n~;f~
~ 2. To pay the indebtednesa hereby eecured and interebt therenn promptly on the daya specified for the same
to become due and payable, and sl~ on demand any other indebteclne~ that may accrue anci become due and pay able ,
to the mortg~e under the ternns ~nd provisione of this mortgage;
3. To keep the mortgaged premiees in good repair; to neither commit. nor suffer strip or waste on the mort-
gaged premiaes; to obtuin the written con~ent of the mortqagee before demoliahing, removing or mRterially altering
any building, ~truchare or improvement naw or hereafter upon th~ mortgaged premises or before allo«ing any such
buiiding, structure or impro~~ement to be demolisheci, removed or materially altered; not t~ commit nor suffer any
act by which the ralue of the mortgageci premises may be impaireci; and not to violate nor permit the ~•iolation of any
law, by-law, ordinance or contract atfecting thP murt.gageci premisea; not to ~•iolate nar suffer the violation of the cove~-
nanttx and aqreement~, if any, of record against the mortgaged premise~;
To pay before delinquent or before any penalty for nonpay-ment attache~ thereto alt taxe~, impositions,
asse.gsments, ~ ater rates, and ch~rges of every nature and to whomever ~.qexsed thut may now or hereflf'ter be imposed,
levied or agses~ed upon or against the mortgaged preraises or an~~ part thereof, or upun the rents, issue:, income or
profits thereof, whether any or all of s~id taxes, assessments or charges be le~•ied directly or indirectly or as escise taxes
or as income taxea;
3, To keep the buildings snd impro~•ements no~~• standing or hereafter erecteci upon the mort~ageci premise~
and atx~ and all apparatus, fixtures~rd appurtenances now or hereafter in ar attached to ~id building~ or improve-
ments, insurecl against lor~ or damage by fire and such other hazards as the mortgagee may from time to time require,
sll :~uch insurance to be in forms, in companies and in sums (not less tht~u sufl5cient tu avoid any claim on the part of
the insurers for co-insursncej satisfactory to the mortgagee; that all insurance policies shall be hela by anc~ shall be
for the benefit of and first payable in case of loss to the mortga~ee, and th~t ~t least fifteen days before the expirution
of each such p~licy, a new and sufficient policy to take the place of the one so expiring sh~ll be delivereci to the mor~
gaqce. 1'he mortgagor hereby assigns to the mortgagee all moneys recoverable under each such policy, and agrees
that in the e~~er.~ of a loss the amount collected under any policy of i~isurance on said property may, ut the aption of
the mortgagee, be applieci by th~ mortgagee upon any indebtedness and/or obligation secured hereby and in such order
as mortgagee may determine; or st?id xmount or any portion thereof ma~-, at the option of the mortgagee, either be used
in replacing, repairing or restoring thQ improvements partiall~ or totally destroyecl to a condition satisfactory to said
mortgagee, or be releti.~ed to the mortgagor; in either of ~vhich e~•ent~ the mortg~,gee shall not obligated to see to the
proper application thereof; nor ahall the a~ount so releaseci or used be deemed a payment on any inciebtednea~ secured
hereby. The mortgagor hereby appoints the mortgagee attorney inevocable of t.he mortgagor to assign each such
policy in the event of the foreclosure of thia mortgage;
6. To pay all sums, the failure to pay Khich ma~~ result in the acquisition of a lien prior to the lien of this
mortgage, before such a prior lien mAy attach;
7. That upon failure to compl,y ~rith the prece~.iing co~•enant or «•ith any of the coven~nts and agreements
a,5 to pt~5~ment of ta.Yes, impoaitions, as9essments, water ra±es and charges, making of repairs or r.iaintenance of insur-
ance as aforesaid, the mortgagee, ~r•ittiout prejudice to any rights given under subsequent paragraphs herein, may
make advances to pecform the same in behalf of the mortgs,gor, and the rnortgagor hereby~ agrees to repay all sums
;o aclvaneeci in his behalf, on demand, ~~-ith interest from the date advaneeci at the raf-e of eight per eentum per annum,
and all sums so ad~•anced, «~ith interest as aforesaic', shall be immediately due and payable and be secured herebp,
ha~•ing the benefit of the lien hereby created, and af its priority, but na such advances shall be deemed to relieti~e the
mortgagor from any default hereunder or impair any right or remeciy consequent thereon, ~.nd the eserr_ise of the right
to make ad~~ances granteci in this paragraph shall be optional ~vith the mortgagee and not ooligatory, and the mort.ga~ee
shall not in any ca.5e be liabl~ to the mortgagor for failure to er-ercise any such right;
S. That the mortgagee shall be subrogated for further security to the lien, although releasecl of record, of an~•
and all encumbrances p~id out of the proceecis of the loan secureci by this mortgage;
9. That, ~s•hile there is no default in the performance or observance of an~- af the co~-en~znts or agreements
herein contained, the mortga~or shal] have the privilege of colleeting and recei~•ing all rent~ accruing under leases or
contracts of tenancy for the mortgaged nremises or any part thereof;
10. That, if an~~ action or proceeding be commencecj (excepting s~n action to foreclose this ruortgage or to
collt~ct the debt hereb~~ secureci), to w•hich action or proceeding the mortqagee is made a party by re~.5on of the exe-
cution af this mortgage or the note ~rhich it secure~, or in ~•hich tne mortgagee deems it nece~ary to defend in order
to uphold the lien of this mortgage or the priority~ thereof or p~se.vior_ of said mortgaged premises, ~,11 sums paid or
incurreci b~ the mort~agee for counsel fees and oth~r expenses in such action or proceeding shall be repaid by the mort-
gsgor, together «~ith interest thereon from date of payment by the mortgagee, at the rate af eight per centum per
annum, anc.i all such sums and the interest thereon shall he immediately due and payr~ble and be ~ecure~l heret~}•, hs~•ing
the t~enefit of the lien hereby createti an~l of its priority;
1 l. That any and all a~rards heretofare made and hereafter to be made by tlie City of Fort Pierce ~
or an~~ municipal, count~~, stxte or federal authorities to the present and all subsequent o~~~ners of the premises coi~ered
b~~ this mortgage, includiri~ ai~y a~w-ard or e«~ards ~i~hether ;or a taking of title to, passession of, or at~y interest in, the
mortg~ged premises or any p~rt ttiereof and an~ a~sard or a«•arc3s recei~~ed for damages sustained b~~ the mortgagecl
pren?ises or any part thereof or for any ehange cr ehanges of gradc: of etreets affectinK ~aid premises, are hereby as~signeci
to tlie mortqagee; anci the mortgagee, at its option, i, hereby' Allt}]Oi'1Z~'(~, directed and empoF~-ered to colleet and receive
~ the pr~ceeds ~Zf an}~ ~uch u~card or u~~•ards from the authorities mt~king the same art~i tu give ~roper receipts and acquit-
tances therefor, and to spply the same to~varcl t`~e pa}~ment of t}ie amo~nt a~?'ing on a~~count: of the r.iortgage debt,
not~i~ithstanding the iac~t that the amuunt o~~•ing on account of the mortgxge ciet,t may not !~e then due and payable;
and the mortgaKor hemby ~~o~-enants and a,qrees to anci «-ith the mortgagee, upon reque,t by the mortgagee, to muke,
execute and deli~~er any~ aod all f~,5signment;: ind other instniments sufficiet~t for the purpo~e of a~signing the aforesaid
a«~a~rd or a«~arcl5 to the morigagae free, clear and diKChargeci of t~n~• and all encumbrances ot' any kincl or n~ture ~~~hat-
~ceti•er;
1'2. That any failurf~ to eserciae any right hereund~r ~h;~ll not conatitute nc~r }se con~truecl a~ ~ti'ait•er of that
ri~ht tit ~n~~ future time;
13. That thi5 mortgage cre.~tea a continuing lien to ~ecure the fiil! an~i final pa}-ment uf thc debt hereby secured
ancl :sll other obligutions irnposeci hereb}• ~incl f~ereafter uri~in~.
`U~1', if the payments are mac3e as pruvided and all ttie forEgoing cae•enant~ anrl agreement:: are perforrned
sn~i ob.sen-e~l, thi:~ mortgage shall t,e null and ~•oid and ~hall t~e relea.~ed at the cost of the mortgagor, ~r•hich ca;t the
mortgq~cr aqree5 to pay; but u~on any- default in thP pa}~ment of the indebteciness hereb~~ sFrured or of any inatall-
ment thereof or c~f intere.-t thE~reon, a~~ the~• ~e~•erull~~ bec~me due, or upon any dFf~1t in ±he pPrformance or observance
~ $fl~x ~~a 459 ~oa~ ~26 . . zz
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