Loading...
HomeMy WebLinkAbout2705 ~ Tl~is moctgage is made, howeva, subjat to the folloa?ing;covenants, copditions and agreements: ~ rIRST: Tt~at the mottgagot heceby agcees aad rnvrnanb to pay the iaterest and principal hereby sccured promptly whrn due and if default be made ia anyput theceof, or in the payment of any other raonies hereby sccured. thrn the same s6a11, withont demand if mo~tgaga s~ull elcct, becomc due and payable it once and the mortgage may be foreclosed in the aunnec providcd b~ law. SECOND: ZLat the mortgagor agrea to pay u the same berome du~ and payable all t~xcs, assesscnrnts, and other charga icnposed by law (~aduding ditch, canal. resecvoir, or other water charga, taxa, ot asus.vncats) upon said premua or aay part thenof indudiag du mortgage~ s interat therein and upc~n this mortgage or the note or indcbtednas secuced hereby, providod tbat should the amounts paid for the mortgagee under this paragraph for such tua, assasments and ot6er charga togetha with the interat oa the indebtedness er.aeed the higbat interat rate permitted by law on the indebtednas thea owic~ modgagor shall not be liable to pay aay of such acas over the highcst hwful rate. In the event ~ of the pauag~ afta t6e date hereof, of any law by the State of Florida, deduding from the value of land for the purpose of taxadoa any lien thereon or cfianging in any way the exist~~8 laws for the taxatioa of mortgaga or debts secured by mon- gage for state or bcxlpur~oses. or the manner of the collection of any such taxes. so u to affect this mortgage, the holdec of this mortgage and of the- debt which it senues, shall have t6e right to gwe su (6) months' written notice to the owner of said landrequiring thep~ym ent of the entire indebtedness secured hereby, and it is hereby agreed that if such notice be givc~ the said indebadnas s6all become duq and collectible at the c~cpiration of said six (6) months. THiRD: 'I'hat the mortgagor agrea to pay all other debts that are now or may become lieas uPon or charges against uid premisa, and not to permit any lien of any kind to acccue and remain on ssid premises, or the improvemrnts thereon, which mi~ht take praccdence over the lien of ihis mortgage. The modgagor further agrees not to aeate any lirn on said pmnisa ~uoior hereto unless the person mtided to the benebts thereof shall have agcred that the timc for the ~aymrnt of the indebtednas hereby secvnd and the manner and amount of payment thereof and the bene5ts of the secvnty s~orded hereby may, without coateat of suchpe rson and without anq obligation to give notice of any kind therdo, be eztrnded, reextended, ~tatlerated, suspended aad ref~nded oa any terms whatsoever without in any manaer affecting the priority of the lien hereby aeated as security for the papmeat of the indebtedness socuced hereby or any obligation subshtuted - therefor or issued to rcfund same. FOURTH: Thzt the morigagor agrea to keep said premisa aad impcovements thereon in good condition and repair and not to rnmmit or suffer waste thereof; to operate all lands, whether improved ~astures. orchards, gcazing, timber, or uop lands, in a good and husbandmaalike manner in urordance with accepted prinaples of sound agricuhural and forestry practices; to take all rrasonable precautions to control wind and water erosion; to fedilize improved pastures, if any, where necessary to maintain a good staad of desirable grasses; to protect orchards and timber, if anp, by reasonable pretautio~s against loss ot damage b~ fire induding tht aountenance of appropriate fire breaks; and neither to remove nor permit the removal of any timber, buildings. oil, gas, mineral, stone, rock, clay, fertilizer, gravel or top soil without the prior written I consent of the mortgagee. T6e morigagee shall have the right to inspect the mortgaged property at such reasonable tima ~ and intenals as the mortgagee may desire, to determine the mortgagor s compliance with the covenants contained in any daase of this mortgage. ~ FIFTH: '~t the mortgagor agrea ro pravre, mainMin and deliver, premiums paid, to the mortg~gee poliries of insucance against suc6 hatzrds on the buildin~s now or hereafter located on said pranises as the moctgagee may from time to time reqwre, in such compania and in such unount and form and with such loss paqable clauses as shall be satisfaa tory to the mortgagee. The mortgagee is authorized to assi~n and deli~er said policies to any purchaser of this mortgage or to the pucchaser of said •premises at any foredosure sala Ia event of loss ~ the mortgagce is expressly authorized and em- poaered to settle or compromise claims under said policies, and the proceeds from said policia as well as any other policies procured by the mottgagor s6all bepa id to the mortgagee who at its sole disccetion may apply same or aay pad thereof on aecount of the indebtedness secvred hereby whethec or not then due and payable, or may apply the same or any part thereof towards the atteratioq recocutr~ction or repaic of said buildings, either to the portion damaged or any other podion thereof, or rele~se same to the mortgagor. Such applicatioa or release shall not cure or .vaive any default or notice of default here- nnder or invalidate any act doae pursuant to such notice. SIXTH: T6at in the event the mortgagor shall fail to procure, maintain a~d deliver the insurance policies, premiums prepaid, or to pay, az the same become due aad payable, aqy tau or assessment imposed by law upon sa~d premises or any part thereof, or the note, or indebtedness savred herebq, or to pay any lieq claim or chuge agamst such premisa which might take precedena over the lirn of this mortgage or to comply with the provisions of paragcaph Fourth hereof, the mortgagee may, without notice or demand, insuce any of the buildings and pay the mst of such insuruxe and pay any of said tua, asxsxments, lieas, ctaims and chacges, or aay part thereof. or redcem fmm the sale of said ~remises for any tua or usessmrnts (ineguluities in the levy or itnpcuition of aay tu ot usasment being rxpressly warved), or rtdean fcom t6e sale of said premisa ranlting from the enforcemrnt of wy such lien, claim or charge. or eapend such s~ms as may be aaasary to eonat the failure of the moctgagor to eomply aith the provisioas of said puagcaph Foucth, and the modgagor hereby agc~ees immediately to repay to the moctgagee. without aotia or demand, any s~uns sopa id with interat ther~on at the same rate as spai6ed in the note secured hereby on the principal thereof after default and maturitp, and all sums p'd by the mottg~gee with intaat shaU beeotne a put of the indebtednas secuted hereby, and in default of immediaterep~ymeat t6ereof bJ? the modgagor the whole indebtednas secviced haeby shall at the option of the mortgagee becaaoe due and pa~able focthwith without notice. S~ L: In the e~roati that th~ aoarti=6~ P~~a~ o~ aoy portioa ttyereol~ be aold or eoav~ysd prior to the tia~s ths iad~eb~t,~daess eecured hereby shall ha~e bs~o reduced t~ ~132~000.00, th~o tb~ enl~irs ind~bt«iaess ascured by t~hia aortgag~ ahall, at the aptioa at ths Ko~tgages~ beco~ dne aad pqabl~s. ~ ~l.~ ~ _ - ~ - ~