HomeMy WebLinkAbout0888 Thi; inortga~e is tnide, howe~~er, subject to the following coven~nts, con~fitions and a~rcemcnts:
t'IKS'!'; That the mortgagon c~rtby agrees and covenants to pay the intCreit and Prir.ci~ .il hercby ser~i::~'. i ro:l~, tly
~~•hen due and if default be xnade in any put thereof, or in the pa}~ment of any uther monies hereby securc~l, then the
same shall, withoui dea~nd if moctgagee shall elect, become due and paysble at once and the mortg~~e n:~~• b~ forcclosed
in the mannet providtd by law.
SECONll: That the mortgagor agrets to pay as thr same becomc ~ue and pa}'zble all ta~es, assc5sm:rts, an~l otl~er
c}~ar~es icnposed bp law (including ditch, canal, reser~•oir, or other water chsr~es, ta~es, or assessments) upon said
prcinises or any part thereaf intluding the mortgagee's interest therein and upon tt,;s mortga~: or the r,o~e or indebtc~iness
secure~3 hereby, provided that should the aznounts paid for the mortgagee under .his paragraph for su~h taxes, assessments
a.hd other charges tog~~ther with the interest on tl~,e indebteln;.ss excee~i the highest interest rate permitted by law~ on :he
indebtedness then owing, mortgagor shall not be liable to pa}• any of such excess over the highest liwful rate. In the .~~ent
of the passage, after the dake hereof, of any law by the State of Flotida, de:iucting Eroen the ~~alue of land for the purpose
of taxation any lien thereon or changing in any way the existin~ lzz~~s for the taxatiun of mort,ages or d:bts secured ty r.:ort-
gane for state or local purposes, or the manner of the c~~llection of any such t:xes, so as to affect this mort~a;~e, the hol.ier of ~
this mortgage and of the debt which it secures, shail hz~•e thc ri~;ht to gi~•e six. (6) months' H~ritten noti.e [o the o~~•ner uf said
land requiring the payment oE the entire indebtedne>s secured hereb;;, and it is hereby a~rec~l tha. if such no:ice be ~;r~n t1~e
said indebtedness shall became due, and collectible at the expiration of said six (b) months.
THIRD: That the mortgagor agrees to pay a!1 othtr debts that are now or may become liens u~on or charges against
said prcmises, and not to permit any lien of any kind to actrue and remain on said prcmises, or tlie impro~•ements thercon,
a~hich might take precedence over the lien oE this mortgage. The mortbagor further agrees r.ot to create any lien on s~id
prcmises junior heceto unless the person entitled ta the benefits thereof shall ha~•e agrced that the timc for the ~ayment of
the indebtedness hereby secured and the manner and amount of •payment thereof and the benefits of the sctunty afforded
herebp may, without conscnt of such person and without any obli~ition to give notice of any k;nd thrreto, be extended,
reextended, acceltrated, suspended and refunded on anq terrns ~.~hatsoe,~er ~~~ithout in any manner affecting the priority
of the licn h:teby rreated as security for the payment of the indebtedness secured hereby~ or any obligation sebstitute~
thereler or issued to refund same.
POIJRTH: That the mortgagor agrees to keep said premises and improvements thereon in ~ot~:3 con.iition ar;d repair
snd not to commit or suf~er waste tiiereof; ta operate all lands, whethe: improced ~astures, orchards, ~razing, tis~:b~r, or
crop lands, in a good and husbandmanGke manne: in accordance with accepted principles of seund afiricu{tural and fore;tn•
practiccs; to take all reas~nable precautioi:s to cuntrol w~ind and water erosion; to fertilize improred pastures, if an}', ~~'f~erc
ne~cssan• to maintain a go~xl stand of dcsirable grasses; to protect archar~~ and timber, if any, by rcasonabic preca.~tions
agsfnst Ioss or damage by fire including the maintenance of a~propri;ite fire brcaks; and neith.r !u rci::o1~~ n,r ~,rmit !he
r~r.:o~al of any timber, buildings, oil, gss, mineral, stone, rock, cla}~, fertilizer, ~ra~•e( or tap sr,il ~t'iii~0~.ik tt~e prior :+•ri:t~~~
co:~,eni of ihe mortga~ee. The mortgagee shall hace the right to i.nspect the m~rtGagea pro~ ert~ at s~;ch re~~onabie t:mes
an~l intervals as the morhgagce may desire, ta determine the moct~agor's compliancc with the co~~enants a~ntsine~~ ;n ~nj~
c lau_c of this mortga~e.
FtETH: 'I'hat the mortgagor agrees to pmcure, maintain and deli~~er, premiums paic?, !o the mort^:, ee 1 olicie> of
insurance a~ainst suth hazar~s on the buildin~s now or hereaftet located on said premises as the mortgagee mav from :irr,-r
to tim;: require, in such eompanies and in such amount and form ~n~1 «:th s~ith loss ra~~.ible cl.~use~ as shall ~b: sati,fac-
tor}' t~ tt~~ mort~a~ee. The mort~~a~ce is au!t;orizcd tu ass;~,n and dcli~•e: s: i,~ ~o3icies to an}~ purchaser of this mort,t:;;e or
to the pnrchaszr of said premises at any foreclosure sale. In e~~ent af loss tlie mort~a~,e is ex~,res~lc autl; ~rize~i ar,,i em-
po~~.ered to sc:tle or comp:omise fllii7lS un:ler said policies, and the procceds from said policies as wel! : s an}~ other policies
procured b~~ ;he mortgagor shall be paid to the mortgagee a~ho at its sole discretion ma}• apply samc or any part thercof on
.i~c ~.inc ~,f~che indebtedness secured 4~ereby whether or not then cive and }a}•1ble, or may apply ttie same or any rart ti~er~of
to~tia:ds the alteration, rtconstruction or repair oi said bu.i(din~s, either to the purcion damaged or any ot};er P~,t~nn the-eof,
or rele:se same to the mortgagor. Such application or release shall no~ cure or ~~•ai~~e any deEa~.ilt or notice of default h~~e-
unuer ur im•alidate any a~t clone p~rsuant to such no*.i:e.
SIXTH: 'T'hat in the event the rnortga~or shal( fail to procure, msintain and deli~~cr the insurance policies, premi~:.ns
pre~ aid, or to pay, as the same become due and piyable, any tax or assessment imposed by law upon said premises or zn}'
pa.rt thereof, or the note; or indeb*edness secured hereby, or to ~ay any- lien, claim or charge against such nremises hicl~
might take p~ecedence ovet the lien of this rnortga~e ~r to coi'nply w•ith the provisions of paragraph Peurth hercof, the
mort~agee may, without notice or demand, insure any of the buildings and p~y the cosk of such insurance ar.d pay anp of
said taxes, assessments, liens, ctaims and charges, nr any part thercof, or redeem fmm tl-~e sate of said ~~remises for any
~ t~xes or assessments (irre~r~larities in the lery ot imposition of any ±ax or assessment being expressly w~aived) , or redeem
From the sale of said premises resulting from the enforcement of any such lien, claim or charge, or expend such sums as
~ maf be netessary to correct the failure of the mortgagor to comply with the provisions of said paragraph Fourth, and the
mortgagor heceby agrees immediately to repay to the mortgagee, without r.otice or demand, any sums sa paid with interest
thereon at the same rate as specified in the note secured hereby on the principal thereof after default and maturity, and a!1
sums paid by the mortgagee with ir.terest shall become a part of the indebtedness se~~red hcreby, and in default of
immediate repayment thereof bq the mortgagor the whole indebtednas secured hereby shall at the option of the mortga~ee
become due and paqable forthwith withaut notice.
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