HomeMy WebLinkAbout2598 2. To pqy the indebt~edneea hereby eecured snd interest thereon pmmptly on the deYe ePecified for the eame
to become due and pe~ysble, and e~l~o oa demand aqy other indebtedneae that mqy? eacrue and became due and P4Yable
to the mortgagee under the terms and provisione of thie mortgage;
3. To keep the mortgsged premieee in good rep~ir; to neither commit nor sufier atrip or waste on the morw
8~ Pretnises; to obtain the written consent of the mortqagee before demoliahing, removin6 or msterially altering
auy building, etructure or unprovemeati now or hereafter upon the mortgaged pr~miees oc before sllowin8 any euch
building, etructure or improvement to fie demoliahed, removed or tnaterially altered; not to commit nor ea~er any ~
act by which the velue ot the mortgaged premieae may be impsired; and not to violate nor permiti the violation of any
law, by-law, ordin~c?oe or contract aRecting the Mortgaged premises; not to violate nor auBer the violation of the cove-
nante and agreements, if any, of record against the mortgaged premieea:
4. To pay before delinquent or before any penalty for nonpayment attaches thereto all taxes, impositione~
sseessmenta, water ratee, and chargee ot every naturs and to whomever aeeessed that may now or hereafter be impoeed,
levied or aesessed upon or sgainst the mortgaged premiees or any part thereof~ or upon the rent8, iasues, income or
profifa thereof ~ whether any or all of said ta~ces~ aeeaesmente or chargee be levied directly or indirectly or as exciee taxea
or ae income t,~?xee;
5. To keep the buildinge and improvemente now atsading or hereafter erected upon the mortgnged premiees
and any and aU apparatus, fixtures and sppurtenancea now or hereafter in or attached to ssid buildinp or improv~
menta, insured against loea or dsmage by fire and such other heisarde ae the mortgagee may irom time to time require, -
all auch insurance Lo be in forms, in companies and in sums (not leea than eufficient to avoid any claim on the part of
the insurere for co-insurance) satisfactory to the mortgagee; that all insurance policies shall be held by and shall be
for the benefit of and first payable in csee of loea to the mortgagee, and thst at lesat 6fteen daye before the eapiration
of each such policy, a new and su~cient policy to ts?ke the place of the one eo expiring shall be delivered to the morw
gagee. The mortgagor hereby 8saigna to the mortgagee all moneya recoverable under esch such policy~ and age~ees
that in the event d a loea the amount collected under any policy of insurance on said property may, at the option of
the mortgagee, be applied by the mortgagee upon any indebtedneea and/ar obligation sec~red hereby and in such order
as mortgagee may determine; or eaid amount or ~?ny portion thereof may, at the option of the mortgagee, either be ueed
in replacing, repairing or rEStoring the improvements partiaUy or totally destroyed to e condition satisfactory to eaid
mortgagee, or be released to the mortgagor~ in either of which events the mortgages shall not be obtigated to aee to the
pmper application thereaf; nor shall the amount so releaAed or ueed be deemed a payment on any indebtednees eecured
hereby. The mortgagor hereby appoints the mortgagee attorney in~evocable of the mortgagor to asaign each such
policy iR the event of the foreclosure of this mortgage; .
6. ~o pay all suma, the failure to pay which may result in the acquisition of a lien prior to the lien of this
mortgage, before such a prior lien may attach;
7. That upon failure to comply with the preceding covenant or with any of the eovenants and agreements
as to payment of ta~ces, impositiona, as~sesaments, water rates and charges, making of repaii's or maintensnce of ingur-
ance as aforesaid, the mortgagee, without prejudice to any rights given under subeequent paragraphs herein, may
make advances to pedorm the same in behalf of the mortgagor, and the mortgagor hereby agrees to repay all sums
so advanced in his behaU, on demand, with interest from the date advanced at the rete of eight per centum per snnum~
and atl sums so advanced, ~vith interest as aforesaid, shall be immediately due and payable and be eecured hereby,
, having the benefit of the lien hereby created~ and of its priority, but no such advances ahall be deemed to relieve the
mortgagor from any default hereunder or impair any right or remedy coneequeat thereon, and the exercise of the right
to make advances granted in thia paragraph shail be optional with the mortgagee and not obligatory, and the mortgagee
shall not in any caee be liable to the mortgagor for failure to exercise any such right;
I~I 8. That the mortgagee shall be subrogated for further eecurity to the lien, although relea~ed of record, of any
and all encumbrances paid out of the proc~eeds of the lo~n ~ecured by this mortgage;
9. That~ ~hile there ia no default in the pedormance or observance of any of the covenants or sgree.ments
herein contained, the mortgagor shall have the privilege of collecting and c+eceiving aU rents accruing under leases or
contracts of tenancy for the mortgaged premiees or any part thereo~;
10. That, if any action or proceeding be commenced (excepting an action to foreclaee this mortgage or to
collect the debt hereby ~ecured), to which action or proceeding the mortgagee is made s party by reason of the exe-
cution of this mortgage or the note which it secures, or in which the mortgagee deems it nec~sary to defend in order
to uphold the lien of thia mortgage or the priority thereof or po~ssion of said mortgaged premi~es, all sums paid or
incurred by the mortgagee for counsel fces and other expenses in such action or proceeding shall be repaid bq the mort-
gagor, together aith interest thereon from date of payment by the mortgagee, at the rate of eight per centum per
annum, and all such sums and the interest thereon shall be immediately due and payable and be secured hereby, having
the bene6t of the lien hereby created and of ita priority;
11. That any and all awards heretofore made and hereafter to be made by the GSty of Fort Pierce
or any municipal~ county, state or federal suthoritiee to the present and all sub~e~uent owners of Lhe premises covered
by this mortgage, including any award or awarda whether for a t,aking of title to, posseasion of, or any interest in, the
mortgaged premises or any psrt thereof and any a~rard or awards rec~ived for damag~es suxtained by the mort$aged
premi~es or any part thereof or for any change or changes of grade of streets affecting said premi~es, are hereby assigned
to the mortgagee; and the mortgagee, at its option, is hereby authorized, directed and empowered to collect end receive
the proceeds of any such anard or a~vards from the suthorities making the saane and to qive pmper receipts and acquit-
tances therefor, and to apply t6e same toward the payment of the amount owing on account of the mortgage debt,
not~ithstanding the fact that the amount owing on account of t6e mortgage debt may not be then due and payable;
snd the mortga~or hereby covenanta and agrees to and with the mortgagee, upon request by the mor4gagee~ to make,
execute and deliver any and all assignments and other instruments sufScient for the purpose of assigning the aforesaid
aaard or awards to the mortgagee iree, clear and diacharged of any and all encumbraucea of any kind or nature wha~
soever; ~
12. T6at any failure to ererciae any right hereunder shaU not constitute nor be construed as a ~vaives of that
right at any future time;
13. That this mortgage crestes a continuing lien to eecure the full and final payment of the debt hereby secured
and all other obligations impased hereby and hereafter arising.
NOW, it the payments are made as provided and all the foregoing covenants and agreements are performed ~ ~
and obaerved, this mortgage shall be null and void and shall be relessed at the cast of the mortgagor, which coet the
mortgsgor agrees to pay; but upon any default in the payment of the indebtedaesa hereby secured or of any install-
ment thereof or of interest thereon, as they aeverally become due, or upon any default in the performsnce or obeervance
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