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HomeMy WebLinkAbout1054 (State of Florida doc~unentary stamps in the amount required by law are affixed to the original of the foregoing note and canceled pursuant to law.) And ahall duly, promptly and 2~illy perform, discharge, execute, effect, ~ complete aad comply vitb and abide by eacb and every the stipulations, agreements, ~ ~ conditions and covenants of said promissory note nn8 of tYiis mortgage, then this ~ mortgage and the estate hereby created shall cease and be null and void. s And the Mortgagor covenants and agrees to and ~rith the Mortgsgee as follo~rs: 1, He ~rill pe~y the principal and iaterest and the various and sundry s~s ; of money gayable by virtue of said promissory note and this mortgage promptly on the i days the same become due and he vill pramptly perform and comp~j? with each aad every other covenant and agreement in said promissory note and mortgage. 2. He xi21 pey the taxes, sssessments, levies, liabilities, obligations } and incwnbrances of every nature and kind aov on said described property, or that ' hereafter may be imposed, suffered, placed, levied or assessed thereon, or t2~at here- ~ after may be levied or assessed upon this mortgage or the indebtedness secured hereby, when due and pqy~ble according to laW, before they become delinquent, and before anpr interest attaches or aqy penalty is incurred; and in so far as a.ny thereof is of record the same shall be promptly satisfied and dischaxged of record and the original official document evideneing such satisfaction and discharge shall be placed in the hands of said Mortgagee within ten days next after payment. 3. He vill keep the improvem~ents no~r existing or hereafter erected on the mortgaged property insured ag~inst loss by Yire and other hazards, casualties aad contingencies in such amounts and for such periods as may be required by Mortgagee. All insurance shall be carried in companies approved by Mortgagee and the policies and rene~+als thereof shall be held by Mortgagee and have attached thereto loss payable clauses in favor of and in form acceFtable to the Mortgagee. In event of loss he ~rf.ll give i~ediate notice by mail to Mortgagee, and Mortgagee may make proof of loss i~ i not ma.de prompt~y by Mortga.g+or, and each insurance compar~y concerned is hereby suthorized 3 and directed to make payment for such loss direct7~r to Mortga8ee instead of to Mortgagor ~ and Mortgagee 3ointly, and the insurance proceeds, or ar~y part tY~ereof,mey be applied by Mortgagee at its option either to the reduction of the indebtedness hereby secured i or to the restoration or repair of the property damaged. In ev~ent of foreclosure of this mortgag~e or other transfer of title to the m~rtgaged pmperty in extinquishment of the indebtedness secured hereby, all right, title and interest of the Mortgagor in and to ar~y insurance policies then in force shall pass to the purchaser or grantee. ; f ~ 4. He irill permit, eom~nit, or suffer no vaste, imp~airment or deterioration ; of said property or any part thereof and vill keep all buildings and improvements ~ noW or hereafter on said property in good repair and ~rill make aRy repairs ~fifch ~ Mortgagee in his discretion shall deem necessary for the proper preservation of said ~ buildings and improvements. ~ 5. ge ~rill•pay all and singu,lar the costs, charges and expenses, including - reasonable attorney's fees, cost of abstracts of title and titl,e searches incurred or paid at a~r time by the Mortgagee because of the failure on the part of the Mortgagor promptly and Rtlly to perform the agreements and ca~venants of said note and this mortgage, and said costs, charges and expenses shall be ia~ediately due and payable and shall be secured by the lien of this mortgsge, and such expenditures sha11 drav interest at the rate of eight per centi.am per annuan. 6. That (e) in the event of ar~y breach of this m4rtgage or default on the part of the Mortgagor, or (b) in the event e~y of said su~ms of money herein referred to be not promptly and f~lly paid Without demaad or notice, or (c) in the eveat the stipulations, a~reements, conditions aad co~venants of said aote and this mortgage are not du~y, promptly and f1a].ly performed, then in either or any such event, the said aggregate stmn mentioned in said note then remafning unpaid, ~rith ; ~ ia~erest accrued to that time, and all moneYs secured hereby, shall beca~e due and payable forthwit~, or thereafter, at the option of said Mortgagee, as fl~lly and comcpletel,y as if all of the said stm~s of money vere originally stipulated to be paid on such day, a~ything in said note or in this mortgage to the contrary not`rithstanding; ~ and thereupon or thereatter, at the option of said Mortgagee, without notice or demand, suit at lav or ia equity, may be prosecuted as if all moneys secured hereby had matured prior to its institution. s 7. The Mortgagee ma~y, at a~r time ~+hile a suit is pe~ding to foreclose t ~ or to reform this mortgage, or to enforce any claims arising hereunder, apply to ~ the court having ~urisdiction t2yereof for the appoint~ent of a receiver, and such ~ court shall forth~rith appoint a receiver of tbe premises ead all other property covered hereby, including all aad sin.giil.ar ttie inco~e, profits, rents, issues and ~ SKD Form M-2906 - - (9-12 60) 3 BOOK195 PAGE~O52 - - ; v, - _ ~ v .