HomeMy WebLinkAbout0661 ~nd shall duly, promptly and fully perform, discharge, execute, effect, complete, corr.ply ~+~ith nnd abide by each
and e~•ery the stit~ttlations, agreements, conditions and covennnt~g of said promis;ory ~iote and of this mortga~~, theri
this mort~age and the estate hemby crer~ted shall cea.se and be nult and ~~oid.
_1n~1 the biort~agor co~~enxnt~, and a~;ree:~ to and w•ith the &Iort~gee as follo~~•;:
1. To pay the principal and interest And the ~•arious and ;undry sum, of tnoney payable b~~ ~~irtue of yaid promi,-
sor~~ nute xn<l thi_, mortgage promptly on the ciay~s the same becume due and 11ort~;xKor ~~~ill promptl~• perform and
comply ~~•ith cach and e~•ery other co~•enatit and u~;reement in said promissoty note and murtg:i~;e.
12. To pa}• ~he taxes, assessi~ients, le~'ies, liabil'}ties, obli~ation~ and incumbrance~ of e~•ery nature nnd kird i:o~~~
on saiii described property, or that hereafter may be imposed, suffered, placed, lc~•ied or n~~essed thereon, or that
hereafter may be le~~ied or assessed upon this mortFu~e or the indehtedness secured hereb~•, ~ti•hen due ar~d payable uc-
cordin~ to la~~•, before they become delinquent, and before any interest <ittaches or an~• penulty is incurred, and insofar
as any thereof is uf record the same shall be promptly sati~fied and di~churged of record und the orihinal official
dorui~ient e~•ideiicin~ suc•h sAti;faction and dischar~e shall be placed in the han~l, of sai~l Dturt~a~ee ~~~ithin ten d:iys ~~ex?
ufter pxyment. 'i'he co~•enants and a~;ree~nent~s in this parugraph shall not be appiicable to the tnxe; and asses~ment.~
~~~hich are to be paid out of the fund~ depositeci ~~~ith the ;4iortgagee unles~ hereinafter ~t forth. :1s to taxe; le~•ied or
a~.e:sea upon thi, mort~age or the indebtedness secured hereby, the hlortgagor shalt be requirei~ to pay only ;o murh
of such taxe~ for the ;1lortga~ee w~hirh, ~~•hen added to the other papments of interesL required hereunder or by tne
\ote it secures, «•ill not exceei~ thc f11ilX1IYlLlU1 legal rate of II1CCPfSt tI10Tl in effect in the State of Floricln.
3. To keep the impro~•ements no~~• existing or hereafter erected on the ~ilortgaged property insured agaiiut lu<s b~~
fire and other hlzxrd~, ca.~ualtie; and eontis~gencies, incluc3ing ~sar dama„e ~shene~•er mquired by the Mortga~ee, in
surtt umounts and for such periods a, may be required by hlortga~;ee. All insur.itice shall be cai°ried in compunie.;
appru~•e~l by 1Sot2g.~kee and tn~ policies and re~~e~+~als thereof shall be held by bSortgagee and ha~•e attached thereto
st~ind~irci mortga~;ee clau;es in fa~•or of atid in fornt acceptable to the ~Iortgagee. Irt e~'ent of loss :1~artgagor ~~'ilf
Ri~•e im~nediate nolice by mail to :~Iort~agee, and :~Sortgagee may make proof of loa~ if not made promptl~• by
~tortgafior, and each insurance cou~pany~ cw~cerned is hereby authorized and directed to make pa~•ment for such lo~~
ilirectly to ii~rt~aFree instead of to 1Sort~a~or and blortga~ee jointl~•, and the insuraTice proreeds, or utiy~ part tLere-
af, may be applieci by llort;a~ee at ics option either to the reduction of the indebtednes~ hereby secured or to the
restora!ion or repair of the proparty damsged. In erent of foreclo~ure of this rnortgage or uther transfer of titie to
the tnort~a~ed prupei•ty in extin~;uishinenf; of the i~idebtedne~s secured hereby, all riglit, title and i~iterest of t}ie ~ioi•:-
~;a~;or in and to any~ insurance policies then izi force shall pass to the purchaser or grantee.
-1. To pei•n:it, conunit, or suffer iio ~caste, impairment or deterioration of said prorerty or any pari thereof. In
the e~•ent of the failure of the :17ortga~;or to keep the buildin~s on said premi~e~ and those to be erected oti said premise.~,
or iinpro~•ements thereon, in go~d repair, the bSort~a~;ee may make such repair5 a; in his diacretioi~ he iuap dcei:i
nece~.;an• for .he proper presen•ation thereof and the full amount of each and e~:ery suc}~ payit~ent shall be immedi-
ai<•ly due a~ici pa~•able, and s}iall be secured by the lic~i of thi; mortgage.
5. 1'o pa_: ali a~;d ~in;;ular the c~sts, ch<irges atld expen;es, i~icludin~ rea~onable attorriey': fee,, co,t of abscract~
of title atid title >earches incuri•e<I or paid at any- time by the :lfort~agee because of the failure on the part of the .liort-
~;afior• promptly~ anci fuily to perforrn the agreement~~ atid co~•enants oI said note and this niortga~;e, and :aid cost~,
cii.zr~es and espen.;es ;ha',l be immediately due and payable and shall be secured Uy the lien of this murtga~e, and sueh
expenditure; shall dr~«• intem?t at the rate of eight per centum per annum.
f. That (a) in the e.ent of azi~• breach of this mort~a~e or default on the part of the :V1ort~agor, or (bj ir
the e~•ent the said sum; of money herein referreri to be not promptly and fully paid w•itnout demand or notice, or (c) in
the e~-ent the stipulations, agreements, conditions and covenanta of ;aici note and this mortgage are not duly, promptly,
and fuil~• perfot-meci, then in either or an~~ : uch e~-ent, the said aggregate sum mentioned in said note then remaining
un~aid, ~ti•ith intere.t accrued to that time, and all mone~•s secured hereby, shall beco~iie due and payable forth~sith,
or the?•eafter, at the option of said iiort~;agee, as fully and co~npletel~• as if ali of the said sums of money w~ere
orin~inall~• ~tiptilated to be paid o:~ such da}•, anythin~; in saici note or in this znortgage ?o the contr<zr~ not~sithstanding;
aud thereupon or t}:ereaftcr, ac the optiott of said :~fort};a~ee, ~sithout notice or demand, suit at la~~~ or in e~uit}• may
be pro~ecuted a; if :^.ll ii~mie}~s ~ecure~i hereby had matured nrior to its institufion.
7. The lfoi•tnaece may, at anytime ~~~hile a suit is pendinK to foreclo~e or to reform tliis rnortgage, or to enforce
an~• clain~s ari~in~, h^reurdex, applr to the court ha~-ing juri;diction thereof for the a}~pointment of a recei~•er, and
=uch court shali fortLuith appoint a receiti•er of the prernises and all other pro~;erty co~~ered hzreby, including all and
.~in~ular the income, ~:rofit:, rent~, i;sue; and re~•enues from ~ti~hate~~er source deri~~ed, and such recei~•er shall ha~•e a(i
the broad arid effecti~•e functions azid po~~-ers in an}~-i~e entruste~l b}• a caurt to a recei~•er, a~id such apPoiiitment shall
be rr~ade b~~ such court as an arimitted equicy and z matter of ab~olute right to said niort~agee, and «•ithout reference
to the adequacy or inadequacy of the ~-alue of the property mortFraged or to the :ol~~ency or insol~•ency of said i~ort~a-
gor or the defendant;, and such incane, profits, renis, i~sues attd re~•enues shall be applied b~• such recei~-er according
to the lien of this mort~;a~e and the practice of such court.
8. The ~iot~t_earor ~+•iil ~i~•e im~atediate notice by mail to the 3ioi-tgar;ee of ati; con~eyance, tran~fer or ch:i~ge
of o~ti~nership of tne premi.;e, or an~• property co~•ere~l hereb~-.
9. tf the 3Tort;,~a~or clefaults in any of the co~~enants or akreeruent~ contaiti~d here~n or in said no.e, then the
'1to~•t~agee ma}• perform the san:e, and all such expenditures made by tne llortgagee, ir3cludir.g a reasor.able attorne~~'~
fee, in so doin~; : hall dra~.s intere~t at the rate of eight per cet:tum per annum a~id shall be repayable immediately
ard ~~~ithout demand, anci All such expenditures shall be secured b~~ the lien of this mortgare.
1~?. Thst no «-ai~~ex of an~~ co~•enant herein or of the oblieation =ecure~l hereb}~ shall at a~~y t~me thereafter be
hel~l to be a~+~ni~er o2 the ±"Pftl~ hereQf or of the note :ecured hereby.
I1. That !he mailing of a«•ritten notice or demand addres~ed to the o«•ner of recard of the mortgageci pretr.ise~,
or directed to the satid o.ti•ner at the 3ast addre„ actually furniahed to the jlortgugee, or directed to ~:xid o~~•ner at said
riortz~aeed premise~, and n~ailed by the L"nited States mai!:, shall be sufficient notice and demand in anti~ case arising
iuider thi> in: ~rutrient aiiri required by~ thc pro~~i~ions herreof ~r b~~ la~ti•.
1°_. That in order more full~~ to I~rutect the security of this mort~*a~e, the ~tortca~;c:, to~ether ~~-ith and in a~idi-
tion .o the monthly pa~mients u~ider tne terms of t.he note secured hereby, ai the first da}• of each month and until said
note i~ fully paid, shall pay to the llortgagee, an inst~~llment of the taxe> and a=:e~-ment3 next to become due a~ainst
the mortgahed premises, ar2d an instailment of premiums next to become duc on in,uranrc policics required by the }1ort-
ga~ec. Such iii~tallmen2; :hall be equal re=pecti~•ely to sucn taxe, uttd asse~=me::~-: ~nd i~isuran.•e premiums, all as esti-
m~ted b~• t3ie :~iortgagee, les~ all sum, already paid thereon, di~•ided b}• t1ic nuii:ber of inonths that are to elap;e be.ore
one month prior to the date «~hen such ±a.r•es and asse~,:menls and insurance premiutn; «•ill berome due. Said install-
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