HomeMy WebLinkAbout0709 (State aP F2~rida documentary s~amps in the amount required by lav are afPixed to
the orig3nal of the ~'oregoiug note and canceled pursuant to ].g~r,)
And shall duly, promptly aad fl~l~y perfors, discharp,e, execute, effect,
complete and comply vith and abide by each and every ~he stipulstions, agreements,
conditions and c~venants of said proa~issory note e~nd of this mc~rtgage, then this
mortgage and the estate hereby created shall cease and be null and void.
And the Mortgag~r covenants and agrets to and vith the Mortgagee as follovs;
1. He vill pay the principal and interest and the various and sundry sumis `
of money peyable by virtue of said promissory note and this mortga,~e promptly on the
days the same become due and he will pro~~~y perfor~ and comply vith each and every
~ther covenant and agreement in said promissory note and mortgage.
2. He ~+ill pay the traxes, assessments, levies, Ziabilities, ob2i~atiQns
and inccanbrances of every nature snd kind nov on said described property, or ttiat :
hereafter may be i~posed, suffered, placec~, levied or assessed thereon, or that here- ~
after m~y be levied or assessed ~ipon this mortgage or the indebtedness ~ecured hereby,
When due and payable according to lav, before they become delinquent, and before atpr
interest attaches or aqy penalty is incurred; and in so far as a~y thereof is of
record the same shall be prompt~y satisfied and dischar~ed ef record and the original
oFficial docwment evidencing such satisfaction and dfschar~e shall be placed in the
hands of said Mortgagee vith~n ten days next sfter payment.
3. He vill keep the improvements nov existing or hereafter erected on
the mortgaged property insur~d ag~±nst 2oss b~ fire and other hazards, casual*ies
and contingencies in such amounts and fbr such periods as may be required by Mortga~ee.
All insurance shall be carried in companies approved by Mortgag~ee and the poliM~s
and rene~rals thereof shall be held by Mort~e?gee and have attached thereto loss pay~e~b3e
clauses in favor of and in form acceptable to the Mortgagee. In event af loss he vill
Eive i~diate not±ce by mail to Mortgag~ee, aad Mortgag~ee may make proof of loss if
not made promptly by Mortgagr~r, and each insurance eompaqy concerned is hereby authorized
an@ directe8 to make p~yraent for such loss ~irect~y to Mortgagee instead of to Mortgagor
and Mortgasee ~ointly, and the insurance proceeds, or a~y part thereof,may be applied
b3• Mortgagee at its option either to the reduction of the indebtedness hereby secured
or to the restoration or repair of the property dsm~ged. In event of foreclosure of
this mortgage or other transfer of title to tne mortgaged property in extin~uisiunent
of the indebtedness secured hereby, all right, title and interest of the Mortgagor
i~ and to ea~y insurance policies then in force shall pass to the purchaser or grantee.
Ae Will permit, commft, or suffer no iraste, impairment or deterioration ;
c~° said property or any gart thereof and vill keep all buildings and improvements a
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nov or hereafter on said property in good repair and will make aay repairs xhich
Mortgage~ in his discretion shall deem necessary for the proper preservation of said
buildings and improvements.
5. He vill'pay all and singu~tar the costs, charges and expenses, including }
reasoaable attorney's fees, cost of abstracts oP title and title searches incurred
or paid at aqy time by t:~~ Mortgagee because of the failure on t2~ part of the Mortgagor
pro~apt~jr snd tlil]y to perform t;~e agreements and cavenants of said note a.nd this
morLgage, and said costs, charges and expenses shal7. be inmrediately due and payable
and shall be secured by the lien of ~his mortgage, and such expenditures shall drav
~nLerest at the :~ate of ei~ht per centt,~ per annwn.
6. Tfiat (a) in tne event of a~y breach of this mortgage or default on
:he part of the Mortgag~or, or (b ) in the event ar~y of said s~s of money herefa
referred to be not promptly and flzl~y gaid without demaud or notice, or (c) in the
event tne stipul.etions, agreements, conditions and covenants ef said note and this
mort~~ are not dul,y, promptly ~nd ~l.ly perfozs..zd, then in either or any such
event, the said aggrega#.e s~m mentioned in said note then remainin~r unpaid, ~rith
in~erest accrued to tY~at tim~e, and all ~neys secured hereby, shall tecome due and
t~yable forth~rith, or thereafter, at the option oP said Mortgagee, as flilly and
~ompletely as if all of the said s~s of maney vere originally stipnlated to be paid
on such day, anything in sai3 no~e or in this mortgage to tt~e contrary notvithstaadiz~;
an3 ~zereupon or thereafter, at the option of said Mortgagee, ~+ithout notice or
demend, suit at lav or in equity, mqy be prosecuted as if all m~neys secwred hereby
had aatured prior to fts institution.
7. Tbe Mortgagee ma,y, at ar~y time vhile a suit is pending to foreclose
or to reform tbis mortgage, or to enforce ar~y claims arising hereuader, apply to
tne court haiir~ ~urisdiction thereoP for the appointment of a receiver, and such ~
^our*. shall forth~rith appaint a receiver of the premises and a12 other property
covered hereby, lncludinA all and singu~lar the incozae, profits, rents, issues and
SWD Form M-2906
(9-12-60) - 3 - t, s ~94 7~~ .
BO~I!
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