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HomeMy WebLinkAbout2109 i . 1 r; ~ u•.' i Pro~ided Always, ar_d these presents are upon the express condition that if the mor~gagors shall pay to the mortgagee that certain pcomissory note of even date herewith~ payablc to the order ot the mortgagee~ in the prin- cipalsumof--------------------------------------- ~ -1~enty F`ive Thousand ~renty Right and 80/100- - - - - - - - - - - - - - ~ = - - - - , 25,028.80 ~ together wit6 all interest thereon, with final payment due Fbb~uB~y 1 . 19 96 , and with principal and , interest pa3•abic on the terms and at the rate provided iherein; and all reneKals, extensions or modi6cations of said note; and shall duly, promptly and fully perform~ discharge, execute, efiect, 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 mortgage and the estate hereby created shall cease and be null and void. AND the said mortaagors cavenant with the sa~d mortgagee ss follows: , 1. That the said mortgagors shall pay all and singular the principal and interest and other sums oE money pa~•able according to the tenor of said note and this mortgage. Ali sums not paid when d~e shal! bea~ interest at the rate of ten per centum (10%) per annum unti) paid. 2. That the said mortgagors shall pay. befwe they become delinquent. ali taxes and assessments of every nature aRecting said pmperty. and al! other charges and encumbranees which now are~ or hereafter shall be. or appear to be a lien prior to this mortgage upon the said pmperty or any part thereof. In default thereof said mortgagee may pay and discharge said taxes. ass~sments, charges and encumbrances~ and pay such sums oi money as it may deem necessary therefor~ and shall be the sole judge oi the validity. legality or priority thereof; and every payment so made shall bear interest at the rate of ten per centum (10%) per annum and be secured by the lien of this mortgage. 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 substantially alte~ed~ nor shall any fixture or articles of personal property covered by this mortgage be removed without written consent 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 expended by said mortgagee shail be immediately due and payable~ and shall bear interest at the rate of ten per centum (10%) per annum. 4. That the said mortgagors shall keep the buildings and improvements on the said premises and articles of personal property covered by this mortgage insured against loss by fire and against Ioss 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 poticies shall be deposited with said mortgagee with premiums fully prepaid and with proper mortgagee's clauses attached thereto. Said mortgagors agree~ in the event of 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 repair or restoration of the damaged premises~ or any portion thereof. In case said mortgagors faii so to insure as herein agreed. the said mortgagee is hereby authorized to procure and pay for such fire or other insurance; and every such payment shalt bear interest irom the date thereof at the rate of ten per centum (10%a) per annum. • - S. That the whole of said principal sum shall become due and payable~ at the option of t6e said mortgagee~ without notice or demand. after default in the payment of any installment of principal or interest for ten days, or after default in the payment of any tax, assessment or insurance premium, or aEter default in the performance of any covenant herein. and the mortgage be foreclosed~ and al! costs and expenses of collection of said monies by foreclosure or otherwise~ including attorneys' 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 t~is mortgage or to enforce payment of any claims hereunder~ the said mortgagee shali be entided to the appointment of a Receiver to take charge of the said property, to collect the rents~ issues and profits 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 jurisdicdon thereof as a matter ot right to the mortgagee and without reEerence to the adequacy or inadequacy of tbe security~ or to the solvency or insolvency oi the mortgagors; and alt rents. profits~ ; incomes, issues and revenues of said mortgaged property are hereby assigned and pledged as further security for payment of the mortgage indebteciness with the right on the part of the said mortgagee at any time a[ter default 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~ shali be condemned or taken ; for public use under powers of eminent domain, the said mortgagee shall have the cight to demand that all money ; awarded for the appropriation thereof. or damage to said lands and premisc~s~ shall be paid to the said mortgagee ~ up to the amount of the outstanding indebtedness securer! by this mortgage. 8. That the said mortgagee may. from time to time~ extend the time of payment of said note to subsequent owners of said tands~ without notice or request from the makers of said aate, and any such extension of time of ~ payment shall not retease the makers from fiability on said note. ~ . , ; 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 taws for the taxation of mcxtgages or debts~ or the manner of collection of any such taxes, so as to af~ect this mortgage~ the holder of this ~ ~ mortgage and the debt whic~ 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 deb~ If such notice be given the said debt shall ~ become due, payable and coltectible at the end of thirty days. If. however, the said mortgagors shall pay and ' 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 speci6ed for the purpose of rendering the mortgage debt due. ; payable and collectible. ; f ~ 8~151 308 ~ ~ g5:t!$~; ~ r~ ~;~5 ~h,5~~ ~a`.r~" '~.~`v~° ~,_Kv ~ s ~