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HomeMy WebLinkAbout1455 -~i.. ~ ' ,y ~ ~ yS ~ . • . Provided Always, and these p~esents are upon the express condition that if the morcgagors shall pay to the mortgagee that certain promissory note of even date herewith, payable to the order o[ the mortgagee, in the prin- cipalsumof ~ -~renty Ttiro Thousand ~+~o Hundred Seventy-Six and 42/100 v~llars (t ^2,276.42 _ together with all interest thcrcon. with final payment due Ap~l 1 , 19 96 ~ and with principal and ~ interest pa~•able on the tcrms and at the rate provided therein; and all reneH•als~ extensions or modifications of said note; and shall duly~ promptly a~d fully perforni. discharge, execute. effect. complete, comply v?~ith and abide b}• each and e~•ery coven:~nt, agreement. obligation, condition and stipulation of said promisson~ n~te and of this : mortgage deed, cach and evecy. then this mortgage and the estate hereby createci shall cease and be nult and void. : AND the said mortgagors coveaant with the said mortgagee as follows: ~ 1. That the said mortgagors shall p.1~~ all and singular the principal artd interest and other sums of money ; pa~~able according to the tenor of said note and this mortgage. All sums not paicl ~rhen due shall bear interest at the rate of ten per centum (10°Jo) per annum unti) paid. 2. That the said mortgagors shall pay~ bcfore they become delinquent~ all taxes and assessments of every ~ nature affecting said property. and all other charges and encumbrances ~r•hich now are~ or herea{ter shall be~ or appear to be a lien prior to this mortgage upon the said property or an~• part thereof. In default thereof said mortgagee may pay and discharge said taxes. assessments. charges and encumbrances, and pay such sums of ` money as it may deem necessary therefor, and shall be the sole judge of the validity, legality or priority thereoE; and even~ payment so made shall bear interest at the rate of ten per centum (10%a) per annum and be secured by ~ the lien of this mortgage. f i 3. That the improvements on said premises shall be maintained in sound condition and in good repair, and that no building on the said premises shall be removed~ demolished or subst~~ntially altered, nor shall any fixture ~ or articles of personal property covereci by this mortgage be removed without written consent o[ the said mortgagee. Should said mortgagors fail to make such necessary repairs~ then said mortgagee may~ at its option, make such ~ repairs or remedy any waste~ and any such sums expended by said mortgagee shall be immediately due and j payable~ and shall bear interest at the rate of ten per centum (10°Jo) per annum. ; i 4. That the said mortgagors shall keep the buildings and improvements on the said premises and articles of ~ personal property covered b}~ this mortgage insured against loss by fire and against loss by such hazards as may be s required by said mortgagee~ in such form and amounts and in such companies approved by said mortgagee. All ' such policies shall be deposited with said mortgagee with premiums fully prepaid and ~ith proper mortgagee's clauses attached thereto. Said mortgagors agree. in the event of any loss under an}~ policy of insurance, that the proceeds shall be paid direct to said mortgagee and said mortgagee may~ in its sole discretion, apply the amount so ' collected. or any part thereof~ on the indebtedness hereby secured in whatever manner said mortgagee may deem ~ advisable~ or toward the repair or restoration of the damaged premises~ or any portion thereof. In case said , mortgagors fail so to insure as herein agreeci. the said mortgagee is hereby authorized to prxure and pay for such t fire or other insurance; and every such.payment shall bear interest from the date thereof at the rate of ten per centum (10%) per annum. j S. That the whole of said principal sum shall become due and payable, at the option of the said mortgagee. ' without notice or demand, after default in the payment of any instaliment of principal or interest for ten days, or ; ~ after default in the payment of any tax~ assessment or insurance premium, or after default in the performance of ' E any covenant herein~ and the mortgage be foreclosed.,and all cost,s and expenses of collection of said monies by ~ foreclosure or otherwise~ including attorni~ys' fees and costs of abstract of title or other title expense. shall be paid ; by the said mortgagors and secured hereby. ~ ~ 6. In the event suit is instituted to foreclose this mortgage or to enforce payment oi any claims hereunder, the said mortgagee shall be entitled to the appointment of a Receiver to take charge of the said property, to collect the rents, issues and pro6ts therefrom~ and to care for same, without proving insolvency. or any other grounds for extraordinary relief, and the said mortgagors hereby consent to such appointment~ and such appointment shall be made by the Court having jurisdiction thereof as a matter of right to the mortgagee and without reference to the F adequacy or inadequacy of the security~ or to the solvency or insolvency of the mortgagors; and al) rents~ profits~ P incomes, issues and revenues of said mortgaged property are hereby assigned and pledged as further security [or ~ ~ paymeRt of the mortgage indebtedness with the right on the part of the said mortgagee at any time atter default t ~ hereunder to demand 'and receive the same and apply the same on the mortgage indebtedness. ; ~ 7. That in the event the property subject to this mortgage~ or any part thereof. shall be condemned or taken : ~ for public use under powers of eminent domain, the said mortgagee shall have the right to demand that all money ~ ~ awazded for the appropriation thereof. or damage to said lands and premises, shall be paid to the said mortgagee ; up to the amount of the outstanding indebtedness secured by this mortgage. ; ~ 8. That the said mortgagee may~ from time to time, extend the time of payment of said note to subsequent - owners oE said lands, without notice or request from the makers of said note~ and any such extension of time of payment shall not release the makers from liability on said note. T • ~ 9. That in the event of the passage after this date of any law of the State of Florida, deducting from the ; ~ value of land for the purposes of taxation any lien thereon, or changing in any manner the laws for the taxation of ~ mortgagea or debts. or the manner of collection of any such taxes, so as to affect this mortgage, the holder of this - ~ mortgage and the debt which it secures shall have the right to give thirty days' written notice to the owner of the ~ mortgaged premises requiring the payment of the mortgage debt. If such notice be given the said debt sha11 ; Uecome due, payable and collectible at the end of thirt-~ days. If, however~ the said mortgagors shall pay and 5 ~ discharge every such tax levied on this mortgage or the debt which it secures, and such payment and discharge by ~ ~ ~ the said mortgagors be lawful, then the holder of this mortgage and of the debt which it secures shall not have the right or election to give the written notice above specified for the purpose of rendering the mortgage debt due~ s ~ payable and collectible. : gooK141 25~ ' . ~ _~~-i - . . _ _ . - x°