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HomeMy WebLinkAbout0912 (8tat~ o! lrlorida doeu~entar~r st~pa in the ~ount rtquired by lar sre airix~ed to t.he original of th~ i~ore~oiag note aad canceLed pursuaat to Lv.) And ebdll du~, P~~Y mri~or~, discherge, ezecute, eltect, ~ co~qplet,~ and ca~ly vitb aod abide by each sod nnery ±.he stipulationa, agrea~eats, coaditioaa aad cavenaata of ssid prosisaory n~ot,e and of this aort~sge, tt~en this s~rtga~e e~?d tt~e esLate hereby created sball ceaae and be mill aad void. And ths Mort~ngor covenents and agrees to and vitb the Mortgagee as follarrs: l. Ae vill pe`y t1~e principnl and interest aad the various nnd sundry su~s of s4ney peysble by~virtue of said pro~issor~r note aad this mortgsge prospt~y on the d~ys the sama beca~e due and he vill promptly perform and coa~p~j? vith escb aad every otber covenant and agreement in sdid promissory n~te and mort~ege. 2. Be vill pqy the tax~es, asseseaenta, levies, liabilitiea, obligations and inc~brances of every nature and kiad nov on said described property, or that hereafter me~y ba imposed, suPtered, placed, leviea or assessed thcreon, or t2~at here- after may be levied or assessed upon this mortgage or tbe indebtedness secured hereby, vhen dwe and p~yable sccording to law, before tbey became delinquent, ead before a~t interest attaches or anpr penalty is incwrred; and in so tsr as aay thereof ie of ~ record the same sha11 be pra~ptly satistied end diacharg~ed of record 8ad the origitsal official docim~ent evideacing such satisfaction and discharge shall be placed in the hands of said Mortgagee ~rithin ten ~3sys next after pe~yment. 3. He ~?i.ll keep the improvements naa~ exiatiag or hereafter erected on the mortga~ed property insured against loss by fire end other hazards, cesualties and conting+encies in such am~unts aad for such periods as may be required by Mort~agee. All insurance shall be carried in compeaies approved by lrlortgagee a.nd the policies and reneWa].s thereof shall be held by l~iort~ee and have attached thereto losa pe~yabl,e clauses in favor of and in form acce~tabLe to the Mortga~ee.- In event of loss he xill give i~ediate notice by mail to Mortgag~ee, and Mortg~e~gee may mak~e proof of loss i! not made prompt~y by Mortgagor, and each insurance eampa~r coacerned is hereby autborized and directed to make peyment Yor such loss direct~y to Mortgagee instead oY to l~ort~r and Mortgagee 3oint~jr, and tbe insurance proceeds, or anpr part thereof,me~r be applied by Mortgagee at its option either to the reduction oY the indebtedneas hereby secured or to the restoration or repe~ir of the property damsged. In e~rent of~foreclosure o~ this_mort~age or other treasfer of title to the aortgaged pz~operty in extinguis2moent of the indebted~ess secun•ed t~ereby, all right, title and interest of thee Mort$agor in snd to a~r insurance policies then in force sYiall pass to the purcbaser or grantee. 4. He ~rill permit, eo~it, or suf`fer no Waste, impairment or deterioration of said property or any part thereof aad ~rill keep all building~s and improvements aox or hereafter on said property in good repair aad vill make aaar repairs vhich Mort~ee in his discretion shall deem necessary for the.proper preservation o~ said ' buildiags and improvements. ~I ~ f 5. He ~rill•pay all snd singular the costs, charges aad expenses, including ~ reasonable attorney's fees, cost of abstracts of title sad titl,e searetyes incurred ' or paid at a~ time by the Mortgagee because of the failure on the part of tbe 1rlortgagor i praaptly sad flitly to perform the agreemeats aad crnrenaats oY said note and this ~ s~rtg,age, and said costs, charges and expenses shall be imnediately due and p~yabLe ` and sha11 be sectu~ed by the lien of this mortgage, and such expenditures shall drav ~ interest at the re?te . of eight per cent~ per smnum. ~ ~ ~ 6. That (a) in the event of ar~ breacb of this m~rt~age or defgult on ~ the part of the trlort~r, or (b) in tbe event a~r o! said sums of aoney herein ` referred to be not p~rompt],y and flilly paid xithout deme~nd or notice, or (c) in the ~ event the stipulstions, agreements, conditiozs and crnrenants of said note and this ~ nort~age are not duly, pramaptly and f1~17y pertormed, tlyen in either or aay such ~ event, tbe said aggre~te sim mentioned in said note then remaining uupaid, with k interest accru~ed to that time, aad a11 moneys secured Y~ereby, shall beco~e due and - payable forthiritb, or thereafter, at the option of said Mortgagee, as tv~lly and - com~pLetely as if all of the said s~s oY mon~ey s~ere origina].ly sti~x~l,ated to be paid ~ on such d~y, aYqrthing in said note or in this mortg,a~e to tbe contrary notvithstanding; = an~d thereupon or thereaPter, at the option oi said l~ortgsgee, without notice or ~ demsad, suit at l,av or in equitq, m~q be prosecuted as ii all m4neys secured hereby ~ had matured prior to its institution. ~ ~ ~ ~ 7. Tbe Mortgsg~ee ae~y, et say time vhile a suit is pending to foreclose ~ ~ or to reform this ~ortgs~e, or to enforce aaar claims arising bereunder, apply to ; ~ the court having 3urisdictioa tbereof for tbe appointment o! a receiver, and swct? ; ~ cowct shall forthvith appoint a receiver of tbe premises aaa sll other property ~ covered hereby, inclwding al1 aad singulsr the inco~e, profits, rents, issues ead ; ~ ~ SWD Fbrm M-2906 ~ (9-12-60 ) - 3- b00K 1u9 PAGE S q~ 9 i ~ . _ ~ ~ ~ ~ ~ _ : - - - }v ~ .