HomeMy WebLinkAbout1704 (State of Florids documentary stamps in the amcunt required by law are affixed to
the original of the foregoing note and canceled pursuant to lav.)
And shall du~y, promptly aad hil.ly perfors, discharge, execute, effect,
complete ead comply vith and abide by each aad every the stipulatioas, agreeaients,
conditions and covenante of said pro~issory ~o~ote and of thia m~rtgage, tben thia
mortgage and the estate hereby created shall cease and be nu11 and void.
And the Mortgagor covenants and a~ees to and vith the Mortgagee as follovs:
l. He ~rill p~e~y the principal and interest aad the various and suadry stcma
of money payable by virtwe of said promissory note aad thie mortgage promptly on the
days the sanoe become du~e and he ~rill promptly perform and camp~j? eith each and every
otlur covenant and agreement in said promissory note and mortgage.
2. He vill pe~y the taxes, assessments, levies, liabilities, obligations ,
and inc~brances of every nature and kind nev oa said cl~scribed property, or that
hereaPter me?y be imposed, suPfered, placed, l~evied or assessed tbereon, or that lxre-
after me~y be levied or assessed upon this mortgage or the indebtedn~ss secured hereby,
When due arid pt~yable according to laa, before they beca~e delinquent, and before az~r
interest attaches or e~y penalty is incurred; aad in so far as aRy thereof is of
record the same shall be praa~pt~y satisfied aad discharg+ed of record and tbe original
official doc~ent evidencing such satisfaction and discharge shall be placed in the
ha~nds of said Mortgagee irithin ten days nrxt after pe~yment.
3. He ~?ill keep the improvements nrnr existing or hereafter erected on
the mortgaged property insured against loss by fire and other hazards, casualties
and contingencies in such amounts and for such periods as me~y be required by Mort~agee.
All insurance shall be carried in companies approved by Mortgagee aad the policies
and renevals thereof shall be held by Mortg~agee and ha~ve attached thereto loss pe~yable
clauses in favor of and in form acceptable to the Mortgagee. In event of loss he vill
give i~ediate notice by mail to Mortgag~ee, and Mortgagee mqy me~ke proof of loss if
not made promptly by Mortgagor, and each insurance camapan~y concerned is hereby authorized
and directed to make p~yment for such loss direct~y to Mortga~ee instead of to l~ortgagor
and Mortgagee ~ointly, and the insurance proceeds, or at~y part tbereof,mey be applied
by Mortgagee at its option either to the reduction of the indebtedaess hereby secwced
or to the restoration or repair of the property damaged. In e~nent of foreclosure oi
this m4rtgage or other traasfer of title to the mortgaged property iu extinguisl~ent
of the indebtedness secured bereby, all right, title aad interest of tlze Mortgagor
in and to aqy iasurance policies then in force shall pass to the purchaser or grantee-
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~ 4. He ~rill permit, eoaonit, or sufYer no easte, i~pairment or deterioration
~ of said property or an,y part thereof and vill keep all buildings aad improvements
~ now or hereafter on said property in good repair and vill make aqy repairs vhich
€ Mort~agee in his discretion shall deem necessary ~or the proper preservation of said
buildings aad improvements.
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~ 5. He vill•pay all and singular the costs, charges s~nd expenses, including
~ reasonable attorney's fees, cost of abstracts of title aad title searches incurred
or paid at aaar time by the Mortgagee because of the failure on the part of the Mortgagor
` pra~pt~jr and it~lly to perform the agreements and cavena.nts of said note and this
~ mortgage, and said costs, charges and expenses shall be imnediately due and p~yabl,e
~ and shall be secured by the lien of this m~rtgage, aad such e~cpeaditures sha1.1 draW
F interest at the rate of eight per cent~ per ann~n. t
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~ 6. That (a) in the event of ac~ breach of this mortgege or default on
~ the part of the Mort~ag~or, ar (b ) in the event ax~t of said s~s of money herein
~ referred to be not prompt]y and flxl~y paid i+ithout demand or aotice, or (c ) in tbe -
f event the stipulations, agreements, conditions and crnrenaats of said note sad this
~ mortgage are not du~y, px~o~ptly and fUlly performed, then in either or any such >
~ event, the said sggreg~ate s~ mentioned in said note then remaining unpaid, vith
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- interest accrued to that tim~e, and a11 moneya secured hereby, sha11 becoaoe due and
payable forthiritb, or thereafter, at the option of said l~ortgagee, as fully aad
~ complete~y as if all of the said s~s of mo~ey ~+~ere originally stipulated to be paid
on such d~y, anything in said note or in this mortgage to the contrary aotvithstanding;
and thereupon or thereafter, at the option oY said Mortgagee, without notice or
demaad, suit at l,av or in equity, mey be prosecuted as iY a11 mc~neys secured hereby
~ had matured prior to its institution.
7. The Mortgagee mey, at ar~y time ~+hile a suit is peading to foreclose
or to reform this mortgage, or to enforce axqr cl,aims arising bereunder, apply to
the court having ~urisdiction thereof for the appointment of a receiver, aad auch
~ court shall forthvith appoint a receiver of tbe premises and al1 oth~er property ,
~ covered hereby, including all aad singul,ar the iacomse, profits, rents, issues aad
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SND Form M-2906
(9-12-60) - 3 -
- 191 1 i01
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