HomeMy WebLinkAbout2858 MORTGAGE - Page 3.
and shall perform, comply with and abide by each and every the
agreements, stipulations, conditions and covenants thereof, and
ot this mortgage, then this mortgage and the estate hereby created,
shall cease, determine and be null and void.
1~iD the mortgagor hereby further covenants and agrees to
pay promptly when due the principal and interest and other sums of
money provided for in said note and this mortgage, or either; to
pay all and singular the taxes, assessments, levies, liabilities,
obligations, and encumbrances of every nature on said propertx; to
permit, commit or suffer no waste, impairment or deterioration of
said land or the improvements thereon at any time; to keep the
buildings now or hereafter on said land fully insured in a sum of
not less than the maximum insurable value, in a company or companies
acceptable to the mortgagee,_the policy or policies to be held by,
and payable to, said mortgagee, and in the event any sum of money
becomes payable by virtue of such insurance the mortgagee shall
have the right to receive and apply the same to the indebtedness
hereby secured, accounting to the mortgagor for any surplus; to pay
all costs, charges, and expenses, including lawyer's fees and title
, searches, reasonably incurred or paid by the mortgagee because of
the failure of the mortgagor to promptly and fully comply with the
agreements, stipulations, conditions and covenants of said note and
this mortgage, or either; to perform, comply with and abide by each
and every the agreements, stipulations, canditions and covenants set
forth in said note and this mortgage or either. In th e event the
mortgagor fails to pay when due any tax, assessment, insurance
premium or other sum of money payable by virtue of said note and
this mortgage, or either, the mortgagee may pay the same, without
waiving or affecting the option to foreclose or any other right
hereunder, and all such payments shall bear interest from date there-
of at the highest lawful rate then allowed by the laws of the State
of Florida.
IF any sum of money herein referred to be not promptly paid `
i
f within thirty days next after the same becomes due, or if each and
E every the agreements, stiuplations, conditions and covenants of said
: note and this mortgage, or either, are not fully performed, complied
~ with and abided by, then the entire sum mentioned in said note, and -
~ this mortgage, or the entire balance unpaid thereon, shall forthwith
ti or thereafter, at the option of the mortgagee, become and be due
~ and payable, anything in said noteor herein to the contrary notwith-
~
z standing. Failure by the mortgagee to exercise any of the rights or
~ options herein provided shall not constitute a waiver of any rights
~ or options under said note or this mortgage accrued or thereafter
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accruing.
Y
~ Mortgagzes agree that they will subordinate the lien and
~ operation of this mortgage to any mortgage or mortgages for the
construction of improvements on ten acres of the mortgagedproperty,
~ with such ten acre parcel to be particularly described as follows: `
From the point of intersection of the northerly right-
of-way of Glades Cutoff Road with the westerly right-
of-way of Sunshine State Parkway, run South 44°56'17"
West along the northerly right-of-way line of Glades
,t Cutoff Road, 1,051.01', thence run South 89°SS'27"
~j West, 24.65' to the point of be~ginning; thence con-
tinue South 89°55'27" West, 435.60', thence run North
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LAW OFFIGE!
WILLES, BITTAN 9 WILLES
~ P o..ox ~ ~~~~191 ,
` FORT PtERCE. FLORIDA 33160
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