HomeMy WebLinkAbout1004 . ~
~
~
~
. ,
same in the manner and form herein set forth; that said property is free '
and clear of all liens of whatever nature, except as specifically mentioned
herein, and Mortgagor fully warrants the title to said property and will
defend the same against all lawful claims and demands except from the
warranties contained in the encumbrances herein specifically set forth.
AND THE MORTGAGOR does hereby further covenant, promise
and agree with the Mortgagee, its successors and assigns, as follows:
~
1. Mortgagor will not commit any waste, or weaken or impair ~
s
the security of this mortgage; will pay, prior to delinquency, all taxes and :
assessments levied or imposed on said property; will keep the mortgaged 1
property insured in such manner and in such amounts as Mortgagee may
require; and will not remove any chattels, if included in this mortgage,
from the premises where they are now situated, without Mortgagee's
written consent.
2. In the event of suit to foreclose this mortgage, Mortgagee
shall be entitled, as a matter of right, without regard to the value of the
mortgaged property or to the solvency of Mortgagbr, and without notice,
to the appointment of a Receiver of the mortgaged property and the income
and profits thereof.
3. In the event of Mortgagor's failure to pay taxes, or to keep
the premises insured as required, Mortgagee may, at his option, but is not
required to, make such payments, and the sums so advanced shall be re-
paid by Mortgagor with interest as provided in the Note, and said sums so
~
paid by the Mortgagee shall be secured by this mortgage. ;
4, In the event of any default in the terms of the Note or this
mortgage, Mortgagee may, at its option, declare the whole indebtedness
secured hereby to be immediately due and payable.
5. That no extension or modification of the payments to be made '
( as hereinabove set forth, and no release of any part or parts of the mort- '
( gaged property, or of bther collateral securing the above described indebt- ~
edness, even though made without consent of the Mortgagor, shall release, ~
relieve, or discharge the Mortgagor from the payment of any sums hereby ;
secured, and Mortgagee shall have the right to release from the lien hereof s
any portion or portions of the mortgaged property, or other collateral held i
as security for said indebtedness, irrespective of the value of the reteased '
portion, without affecting the lien hereof as to the portion or portions not ~
released, notwithstanding the fact that such release or releases may be
made without knowledge or consent of the Mortgagor, or of any Grantee
or Grantees of portions of such property theretofore sold.
n
6. To perform all covenants and fulfill all conditions9Mortgagor's
part to be performed or fulfilled under that certain mortgage loan made by
the FIRST NATIONAL BANK OF FORT PIERCE, in the amount of
$180, 000. 00, recorded in St. Lucie County, Florida in Official Record
Book 170 beginning at page 874 to which mortgage and_ the indebtedness
~ thereby secured this mortgage shall be subordinate and inferior. However,
~ it is agreed that any default under the aforesaid mortgage to First National :
Bank of Fort Pierce shall constitute a default under this mortgage to the
same extent and effect as though each and every condition, covenant and
undertaking therein set forth were included herein specificallv as a covenant ;
~
of the Mortgagor. ~
~
~ ~K~ }~E~.U~
~
~
_ - X~uT.
, ~
~ ~ ~
~ - ~ : . ~a
~ _
_3