HomeMy WebLinkAbout0082 And aball duly~ promptty ~nd ially pariorm~ diacharee~ ezecute~ eifect~ complet~, camply with ~d abide by each
and every tbe stipuLtiona. agraaments, conditioaa and covenanL oi aaid promieeory note and of this mort~age. then
thia mcrt,ga~e ~?nd !he estpte hareby cra~?ted nha;l eea~e and be null and ~•oid.
And the Mortgagor covensnta :utd agreea to snd wItk the Mortgagee as follows:
1. To pay the principal and interest and the various and sundrq sums of money payable by virtue of ssid pmmie-
sory note and this mortgsge promptly on the daya the same become due tund Mortgagor will promptly perform and
comply with each and every other covenant and agreement in said prnmissory note •nd mortgage.
2. To pay "the Lxea, r~ssesamente, levies, liaDiliLica~ obligstiona nnd incumbrsnoes of every nature and kin3 now
on said described property, or thst hereafter may be imposed~ auftered, placed, levied or assessed theresn, or that
hereaiter may be le~+ied or aaseeaed upon this mortgsge or the indebtednesa eecux~ed hereby, when due und payable ac-
cording to law, before t~?ey become delinquent, and before any interest attachea or an~ penalty ia incurred, ~nnd insofar
as any thereof is of record the ssme shall be pmmptly satigfied snd dischatged oi record and the original officiat
document evidencing such satisfaction snd diacharge ahall be plsced in the hands of said Mortgagee within ten days next
after payment. The covenants and agz~eementa in this para8're?ph shall not be spplicable ta the taues snd asaesaments
which are to be paid out of the funds depoaited with the Mortgagee unless hereinafber set forth. Aa to taxes levied or
assessed upon this mortgsge or the indebtedneas aecur~d hereby, the Mortgagor shall be required to pay only so much
of such ta~ces !or the Mortgagee which, when added to the other payments oi interest required hereunder or by the
Note it secures~ will not exceed the maximum legal rate ot interest tt?en in effect in the 5tate oi Florida
3. To lxeep the improvements now eaisting or hereaiter erected on the mortga.ged property inaured againat loss by
fire and other hazards, cssualties and contingencies, including war damage whenever reqnired by the Mortgagee~ in
such amounis and for such periods as may be required by Mortgagee. All insurance ahall be carried in companies
approved by Mortgagee and the policies and renewals thereoi shall be held by Ddortgagee and have attached thereto
standard mortgagee Clausea in favor af and in form acceptable to the Mortgagee. Tn event of loss Mortgagor will
give immediate notice by mail to Mortgagee, and Mortgagee may make proof o! loss if not made promptlq by
Mortgagor, snd each insurance company concerned i$ hereby authorized and directed to make payment inr auch IosS
directly to Mortgagee instead of to Mortgagor and ~ortgagee jointly, and the insurance proceeds, or any part therE-
of, may be applied by Mortgagee at ita o~?tion either to the reduction af the indebtedness hereby secured or to the
restoration or repair of the prnperty damaged. In event of foreclosure of this mortgage or other transfer of title to
the mortgaged property in extinguishment oi the indebtedness secured hereby, alt right, title and interest of the Mort-
i gagor in and to sny insurance policies then ~n force shall pass to the purchaser or grantee.
4. To pernut, commit, or suffer no waste, impsirtnent or deteriorstion of s~id property or any part theieof. Tn
the ewent of the faulnre of the Mortga,gor to keeg the buildings on said premiaes and those to be erected an said premiaes,
or improveanenta thereon, in good repair, the Mortgagee may make sucl~ repairs as in his discretion he may deem
necessary for the proper preservation thereof and the full amount of each and every such payment shall be immedi-
ately due and payable, and shall be secured by the lien of this mortgage.
b. To pa~ all and singular the costs, charges and expenses, including reasonable attorney's fees, cost of abstracts
of title and title searchea incurred or paid at any time by the Mortgagee bec~uae of the failure on the part of the Mort-
gagor promptly and fuliq to perform the agreements and covenants of said note and this mortgage, and said costs,
charges and expenses shaii be immedistely due and payable and shali be secured by the lien of this mortgage, and such
expenditures shall draw interest at the rate of eight per centum per snnum.
6. That (a) in the event of any hreach of this mortgage or default on the part of the Mortgagor, ar (b) in
the event the said sums of money herein referred to be not prnmptly and fully paid without demand or notice, or (c) in
the event the stipulations, agreements, conditions and covenant8 of said note and this mortgage are not duly, promptly,
and fully performed, then in either or any such evertt,: the said aggregs~te sam mentianed in said note then remaining
unpaid, with interest accrued to that time, and all moneys secured hereby, shall become due and payable forthwith,
or thereafter, at the option of said Mortgagee, as fully and completely sa if all of the said sums of money were
originally stipulated to be paid on such day, anything in s~id note or in this mortgage to the contrary notwithstanding;
and the~upon or thereafter, at the option of said Mortgagee, without notice or demand, suit at law or in equity ma~
be prasecuted as if alt moneys secured hereby had matured prior to its institution.
7. The Mortgagee may, at anytime while a snit is pending to foreclose or ~to reforrm this mortgage, or to enfor~ce
any claims arising hereunder, appiy to the court having jurisdiction thereof for the appointment of a receiver, and
such cnurt shall forthwith appoint a receiver of the premises and sll other Qroperty covered hereby, includxng sll and
singular the income, profits, rents, issues ~nd revenues fmm whatever source derived, and such receiver shall have all
the broad and effective functions and powers in anywise entrnsted by a conrt to a receiver, and such appointment shall
be made by such court as an admitted equity and a matter of absolute right to said Mortgagee, and without reference
to the adequacy vr inadequacy o~ the value of the property mortgaged or to the solvency or insolvency of sai3 Mort.ga-
gor or ~the defendants, and such income, profits, rents, issues and revenues ~hall be applied by such receiver according
ta the lien of this mortgage and the practice oi such court.
8. The Mortgagor will give immediate natice by mail to the Mortgagee of any conveyance, transfer or change
of ownership of the premises or any property covered hereby.
8. If the Mortgggor defaults in anq of the covenairts or agreements contained herein or in said note, t.t:en the
Mort~agee may perform the same, and all such eacpenditures made by the Mortgagee, including a reasonable attorney's
fee, in so doing shall draw interest at the rate of eight per centum per annum and shall be repayable immediately
and vs•ithout demand, and ali such expenditures shall be secured by the lien of this mortgage.
~ 10. That no v~aiver of any covenant herein or of the obligation secured hereby shall at any time thereaf;er be
held to be a waiver of the terms hereaf or. of the note secured heieby.
I1. Th~t the mailing of a written notice or demand addressed to the owner of record of the mortgaged premises,
or directed to the said owner at the last address acxually furnished to the Mortgagee, or directed to said owner at said
mortgaged premises, and mailed by the United States maits, shall be sufficient notice and demand in any case arising
under this instrument and required by the provisions hereof or by la~v.
12. That in order more fully to protect the security of this mortgage, the Mortgagor, together with and in addi-
tion to the monthiy payments under khe tertt~ of the nnte secured hereby, qn the first day of each month snd until said
note is fully paid, ahall paq to the ~ortgagee, an installment oi t2:e ta~css and assessments neat to become due against
the mortgaged premises, and an installment of premiums neatt to become due on insurance policies required by the Mort-
gagee. Such installrnenYs shall be equal respecti~ely to auch tases and assessments and insurance premiums, ail as esti-
mated by the Mortgagee, less all sums already paid thereon, di~-ided ~y the number of montha that are to elapse before
one month prior to the date when such taxes and sasessments and insurance premiums wiii become due. Said install-
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