HomeMy WebLinkAbout1427 - ;
i
of desirable grasses; to protect groves and timber, if any, by
reasonable precautions against loss or damage by fire including
the maintenance 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 prio
written consent of the mortgagees The mortgageesshall have the
right to inspect the mortgaged property at such reasonable times
and intervals as the mortgagees may desire, to determine the
mortgagor's compliance with the covenants contained in any clause
of this mortgage.
FIFTH: That the mortgagor agrees to procure, maintain and
deliver, premiums paid, to the mortgagees policies of insurance
against such-hazards on the buildi.ngs now-or-hereafter located on
said premises as the mortgagees may from time to time require, in
such companies and in such amount and form and with such loss pay-
able clauses as shall be satisfactory to the mortgagees. The
mortgagees are authorized to assign and deliver said policies to
any purchaser of this mortgage or to the purchaser of said premise
at any foreclosure sale. In the event of loss the~mortgagees are
expressly authorized and empowered to settle or compromise claims
under said policies, and the proceeds from said policies as well
as any other policies procured by the mortgagor shall be paid to
the mortgagees who at their sole discretion may apply same or any
part thereof on account of the indebtedness secured hereby whether
or not then due and payable, or may apply the same or any part
thereof towards the alteration, reconstruction or repair of said
buildings, either to the portion damaged or any other portion ther -
of, or release same to the mortgagor. Such application or release
shall not~ cure or waive any default or notice of default hereunder
or invalidate any act done pursuant to such notice.
SIXTH: That in the event the mortgagor shall fail to procure
~ maintain and deliver the insurance policies, premiums prepaid, or
~ to pay, as the same become due and payable, any tax or assessment •
! imposed by•law upon said premises or any part thereof, or the note
or indebtedness secured hereby, or ~o pay any lien, claim or charg
~ against such premises which might ta.ke precedence over the lien of
~ this mortgage or to comply with the provisions of Paragraph Fourth
hereof, the mortgagees may, without notice or demand, insure any
~ of th~e buildings and pay the cost of such insurance and pay any of
~ said taxes, assessments, liens, claims and charges, or any part
thereof, or redeem from the sale of said premises for any taxes or
assessments (irregularities in the levy or imposition of any tax
or assessment being expressly waived), or redeem from the sale of
said premises resulting from the enforcement of any such lien, cla
or charge, or expend such sums-as may be necessary to correct the
~ failure of the mortgagor to comply with the provisions of said
~ Paragraph Fourth, and the mortgagor hereby agrees immedia tely to
repay to the mortgagees, withaut notice or demand, any sums so
paid with interest thereon at the same rate as specified in the
~ note secured hereby on the principal thereof after default and
~ maturity, and all sums paid by the uartgagees with interest shall
~ become a part of the indebtedness secured hereby, and in default
~ of immediate repaymient thereof by the mortgagor the whole indebted
~ ness secured hereby shall at the option of the mortgagees become
~ due and payable forthwith without nptice.
~
~ SEVENTH: That the mortgagor agrees to pay on demand all ex-
penses and attorney's fees incurred by the mortgagees by reason of
~ CHARLES E. BECHT litigation with third parties to protect the lien of this mortgage
4*TORNEY N lAw
~T Wf.iE COUMIV
•
9~'vR 6U~lWN6
~ O tOX W '
~
s~= ~r.~T PiERCE.FLOHIDA
~
~
~
~ - -
k"~-.r: K. . _ - _ . ~ . . . _ . :