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HomeMy WebLinkAbout1042 . s i - ~9~ ; ,r Provided Always, and these presents are upon the express condition that if the morcgagors shall pay to the mortgagee that certain protnis3ory note of even date herewith~ payable to the oeder ot the mortgagee. in the prin- CI[~~ SU(R Ot ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ • ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ f I -TMenty-thres Thouaa~nd I~i.n~s Auadrsd $ightT-aa~en and 48/100- --(i 23s~7.48 together with a!1 interest thereon. with final payment due ~Ia~"Ch 1~ , 19 91 , and with principal and interest pa~•able on the terms and at the rate ~rovided therein; and all renewals, extensions or modifications of said note; and shall duly. promptly and tully per(orm. discharge, execute~ eRect. complete. comply with and abide ? by each and every covenant~ agreement, obligation, condition and stipulation of said promissory note and of this ~ mortgage deed, each and every, then this moctgage and the estate hereby crcated shaA cease and be null and void. ~ AND the ssid mortgagors covenant wlth the said mortgagee as follows: 1. That the said mortgagors shall pay all and singular the principal and interest and other sums of money payable according to the tenor of said note and this mortgage. All sums not paid when due shall bear interest at the rate of tea per centum (10%a) per annum unW paid. 2. That the said mortgagors shall pay, before they become delinquent~ alt taxes and assessments of every nature aRecting said property. and all other charges and encumbrances which now are~ or hereafter shalt be. or appear to be a lien prior to this mortgage upon the said property or any part thereof. Ia 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 shatl be the sole judge of the validity, leg~lity or priority thereof; , and every payment so made shall bear interest at the rate of ten per centum (10°Jo) per annum and be secured by the lien of this mortgage. 3. That the improvements on said premises shall be maintained in sound conditio.-. and in goai repair, and that no building on the said premises shall be removed. demolished or substantially altered, nor shall any 6xture or articles of personal property covered by this morigage be removed without written conseni of 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 eacpended by said mortgagee shall be immediately due and payable. and shall bear interest at the rate of ten per centum (10%) per annum. 4. That the said mortgagors ahall keep the buildings and improvements on the said preroises and articles of personal property covered by this mortgage insured against loss by fire and against lo6s by such hazards as may be 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 with proper mortgagee's ~ clauses attached thereto. Said mortgagors agree. in the event ot any loss under any 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 r~pair or res~gration of ~e damaged premises~ or any portion thereof. In case said mortgagors fail~so to insure as herein agreed, the said mortgagee is hereby authorized to procure and pay for such fire or other insutance;~and every such paymeat shal! bear interest from the date t6ereof.at the-rate of ten per centum (10°Jo) per annum. - I S. That the arhole of said princ'ipal sum shall bec:~me due and payable. at the op~tion of the said mortgagee. j without notice or demand~ after default in the payment of any installment oE principal or interest for ten days~ or i ~ after default ia the pajrment of any-tax, asseasment orinsurance premium; or after defauit in the performance of ~ any covenant herein~ and the mortgage be forecloeed. and all costs and expenses of collection of said monies by ~ foreclosure or otberwise, including attomeys' fees aad costs oi abstract-oi tide 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 of 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 renta. issues and profits therefrom, and to care for same~ without proving insolvency, or any other grounds for extraordinary relief. and the said mortgagors hereby c:onsent 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 adequacy or inadequacy of the security, or to the aolvency or iasolvency of the mortgagors; and all rents. profita~ incomes, issues and revenues of said mortgaged property are hereby assigned and pledged as further security for payment of the mortgage indebtedness with the right on the part of the said mortgagee at any time after default hereunder to demand and-receive t6e same and apply tbe same on the mortgage indebtedness. 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 awarded 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 indebtedne~ secured by this mortgage. ~ 8. That the said mortgagee may~ from time to time, extend the time of payment of s~~d note to subsequent owners of said lands. without notice or request irom the makera of said note. and any such extension of time of payment shall not release tht makas from liability oa said aott. : 9. That in the event of the passage after thia date of any taw of the State of Florida. deducting irom th~ value of land for the purposes of taxation any lien thereon. oc changing in any manner the.laws for the taxation of mortgages or debts. or the manner of oollection of any such taxes, so aa to afEect this mortgage. the holder of this mortgage aad the debt which it secures shall have the right to give thirty days' written notice to zhe owner of the mortgaged premises requiring the payment of the mortgage deb~ 1f such notice be given the said debt shaU becorne due, payabk and c~oltcctibk at the end of thirty days. If, however. the said mortgagora shall pay and diecharge evuy such tax levied on this mortgage or t6e debt ~rhich it secures, and auch payment by ~ the said mortgagors be lawful. thea the holder ot this mortgage and of thc debt which it aecu~shdl~l~ave the right or election to give the written notioe above specified for the purpo~e of rendering the mortgage debt due, payable aad oolloctibk. goo~ 144 440 _ - - - .~r - _ -