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HomeMy WebLinkAbout1426 r the estate hereby granted shall cease and determine, and the ~ mortgagee will execute and deliver to the mortgagor a suitable in strument to enable the mortgagor to cause this instrument to be discharged of record. It is agreed, however, that all expenses incurred in effecting such discharge shall be borne by the mortga r. This mortgage is made, however, subject to the following covenant , conditions and agreements: FIRST: That the mortgagor hereby agrees and covenants to pa the interest and principal hereby secured promptly when due, and if default be made in any part thereof, or, if default be made in the payment of any of the ~nies hereby secured, or, if the mort- gagor breaches any of the covenants and conditions contained herei , and said default or defaults and/or breach or breaches be not re- mitted in fif teen (15) days or within ten days after notice of sa . default mailed to Stewart-Wade Florida Corp., c/o J ones, Adams, Paine & Foster, Attorneys at law, 601 Flagler Drive Court, West Palm Beach, Florida, whichever date is later, then and in either event, with or without demand as the mortgagee shall elect, the en tire principal and interest and defaulted payments, if any, at the mortgagees election, shall become due and payable at once, and the mortgag~ herein involved may be foreclosed in the manner provided for by law. SECOND: That the mortgagor agrees to pay as the same become due and payable all taxes, assessments, and other charges imposed by law, upon said premises or any part thereof including the mortgagees interest therein and upon this mortgage or the note or indebtedness secured hereby, provided that should the amounts paid for the mortgagees under this paragraph for such taxes, assess- ments and other charges together with the interest on the indebted ness exceed the highest interest rate permitted by law on the in- j debtedness then owing, mortgagor shall not be liable to pay any of ~ such excees over the highest lawful rate. ~ THIRD: That.the mortgagor agrees to pay all other debts that ~ are now or may become liens upon or charges against said premises, ~ and not to permit any lien of any kind to accrue and r~ain on sai ~ premises, or the improvements thereon, which might take precedence over the lien of this mortgage. The mortgagor further agrees not to create any lien on said premises junior hereto unless the per- son entitled to the benefits thereof shall have agreed that the time for the payment of the indebtedness hereby secured and the manner and amount of payment thereof and the benefits of the secur ity afforded hereby may,without consent of such person and with- ~ out any obligation to give notice of any kind thereto, be extended reextended, accelerated, suspended and refunded on any terms what- ~ soever without in any manner affecting the priority of the lien hereby created as security for the payment of the indebtedness se- < cured hereby or any ob~igation substituted therefor or issued to ~ refund same. ~ ~ FOURTH: That the mortgagor agrees to keep said premises and ~ improvements thereon in good con~dition and repair and not to com- ~ mit or suffer waste thereof; to operate all lands whether improved ~ astures roves razin timber or cro lands in a ood and S ~ S g> > P ~ g ~ ~ husbandmanlike manner in accordance with accepted principles of ~ cHQRLES E. BECHT sound agricultural and forestry practices; to take all resonable >*rontitr „ iww ~ precautions to control wind and water erosion; to fertilize, im- ~ : ~ . uuE coun~r 94•.~ s~~?a«a proved- pastures, if any, where necessary tomaintain a good stafld ~ O 007[ SY ~ ~ :;K? ViERCE, fLOR10A _ 2_ ~ 3~~~ PAfE~~~ ~ : ~1 - - _ ~:c _rr.. . . . _ . - _ az.t; , . ~ ..r .