HomeMy WebLinkAbout0763 (State of l~'lorids documentn:y staaaps ia tLe aoouat required by lav are nffixed to (
the originnl of the toregoing note aad canceled pursuant to l,av.)
And eh~all duly, proaqptly and l1~1]y perfora, discharge, execute, eftect,.
complete e~nd ca~ply vith and sbide by each and every the stipul,ationa, agreesenta,
conditions snd coveaants o! said proa~issory note and o! thia m~rtgege, tben thie
mortgage and the estate hereby created sl~all cease and be null and void.
And the Mortgagor covenanta and a~es to and vith the Mortgagee as folloxs:
l. He vill pqy the principal aad intereet ead the various and aundry su~s
of aaney pe~ysble by virt~e of said promissory note ana this mortgage promptly on tYie
de~ys tbe same become due and he ~+ill pTOmptly perform and co~mply irith each and every
other covenant and agreement in said promnissory note and mortgage.
2. He ~?i21 pay the t.e~ces, assessments, levies, linbilitiea, obligations
end inc~brances of every nature and kind n~ov on said described property, or that _
hereafter may be imposed, suffered, placed, laviea or assessed tbereon, or tbat bere-
after mqy be ]~evied or assessed upon tlits mort~ege or tbe indebtedness secured hereby,
when due and p~yable according to lav, before they beca~ delinquent, ead before any
interest attaches or anar peaal.ty is incurred; and in so !ar as sip? thereof is of
record the same shall be pra~ptly satisfied and discheucged of record and t2ye origina.l
official docim~ent evidencing such satisfaction and disebarge shall be placed in tt~e
hands of said Mortgagee irithin ten clsys aext after pe~yment.
3. He vill keep the iaprovements nar existing or lbereaPter erected on
the mortgaged property insured against loss by fire and other Y~azards, casualties
and contingencies in such emounts aad for such periods as me~y be required by Mort~ee.
All insuraace shall be carried in companies approved by l~ortgagee and the policies
and reneWa].s tbereof shall be held by Mortg,agee and have atta~ched tbereto loss pe~yable
clauses in favor of and in forn acceptable to the Mortgagee . Iii event of loss 2~e vill
give i~ediate notice by me~il to Mortgagee, and Mortgragee mey maloe proof of loss ii
not me~de promptly by Nortgagor, and each insurance campsa~r concerned is hereby autborized
aad directed to make pe~yment ~or such loss direct~y to l~ort~ee instead of to Mort~agor
aad Mortgagee ~ointly, and the inaurance proceeds, or anpr pert thereoY,mqy be applied
by Mortgagee at its option either to the reduction of the indebtedneas hereby secured
or to the restoration or repai~ of the property dame~ged. In ev~ent of foreclosure of
this mortgage or other transfer of title to the mortgaged propeFty in extinguisY~a~ent
of the indebtedn~ess secured hereby, a11 right, title and interest o! the Mortg,agor
in anci to siqr iasurance policies then in force shall pass to the purchaser or grantee.
4. He Will permit, ~oamait, or suPfer no vaste, imp~irment or deteriora.tion
of said property or any part thereof and irill keep all buildings sad improvements
no~ or hereat'ter on said property in good repair an+d xill mak,e say repairs which
` Mortgagee in his discretion shall deem necessary tor the proper preservation of said
~ buildinga and improvements.
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~ 5. Se ~rill'pay all and singular t~e costs, charges and expenses, including
reasonable attorney's fees, cost of abstracts of title aad titLe searches inc~n red
~ or paid at a~r time by the Mortgagee because of the iailure on tYie part oY the Mortgagor
~ pramptly aad Ril]y to perform the agreemeats and c~enants of said note and tbis
~ nortg~age, and said costs, cha.rges axrd expenses shall~be ia~ediately due aad payabLe
~ and shall be secured by the lien of this m~rtgage, and such e~eaditures shall draW
interest at the rate of eight per cent~ per arm~.
6. T'hat (a) in the event of siqr breacb of this mort~ege or deYault on
the part of the Mort~r, or (b ) in th~e event a~r of said s~s of aoney herein ;
referred to be not proaptly and fl,itly paid ~rithout demand or notice, or (c ) in the ~
event the stipulations, agreements, conditions and cavenaats o~ said aote and this
mortg,age are not du~q, prooptly and ttt].ly performed, then in either or atqr such
~ event, tbe said aggregate e~ mentioned in said aote then ~ining~unpaid, iritb
~ interest accru~ed to that time, and all moaeys secwred hereby, shall beco~e due aad
pa~yable forthiritb, or thereatter, at the option of said Mortgagee, as Pully and
~ co~pLetely as if all o~ th~e said.s~s of money ~ere or3ginally stipulated to be paid
~ on swch d~q, a~rthing in said aote or in thia m4rt~e to the contrary not~rithstanding;
~ aad thereupon or therea!'ter, at the option o! said MortgRgee, vithout notice or ~
~ dem~ad, suit at l,av or in equity, me~y be prosecuted as if a11 mc>neys secured hereby
~ had matured prior to its inetitution.
~
~ 7. 1*t~e Mortgagee me~y, at aay time while a suit is pending to foreclose
~ or to r~form this m~rtg~e, or to enforce aa~ claims arising hereund~er, ap~ply to
~ the court having ~urisdictioa there.wf for the appointment of a receiver, and such
~ court shall forthvith sppoint a receiver of the premises and all other praperty
covered hereby, inclwding all aad singu~l,ar tbe iaceme, profits, rents, issues and `
SWD Fbrm M-290G
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s~x 188 P,~E 762 ~
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