HomeMy WebLinkAbout2972 'Ihis mortgage is madt, however, subject to the following co.•enants, conditions and ~grecmcnts:
FiRST: That the mortgagor hereb~ agrees and co~enants to pay the intecest and principal heceb~• secured prompcly
when due and if default be made in an~• pan thercuf, or in the payment of any uther monies hereby srcurcd, thrn the
same shatl, without demxnd if mortgagee shall elect, txtiome due and payible at onie and the mortgag~ may be foreclosed
in the manner pro.~ided by law.
SECOND: 'I7~at the mortgagor ~gcees to pa} as the same bctiome duc and pa~•able all taxes, us~ssments, and othtc
charges imposed by liw (including ditch, canal, reser~•oir, or other w~ater charges, taxes, or assasments) upon said
prem~ses or an~ part thereot including the mortgagee's intecest there~n and upon this mortgage or the note or indebtedness
~ secured hereb~, pro~•idcd that should the im~~unts paid for the mortgzgee undcr this pxragraph tor such taxes, asxssments
' and other charges together with the interest on the indrbte.~ness excecd the hiFhest ~nterest rate permitted b~• law on the
_ indebtedness thrn ov?•~ng, murtgaRor shall nc~t be liable to ~a~~ an}• of such exccss o.er the highat law•ful rare. ln the event
~ of the passage, after the date hermf, of any law• b}~ the State of !•lcx~da, dcduct:n~ from the ~~alue of land for the ~ur~+c~se
of t~xation any lien thereon ur ihangin~, in any aa~ the ex~sting laa•c F~r the taxation of mortgages or dc~ts secured hy mort-
Rage for state or Icxal pur~ ses, or the m~nner of the colleitum c.f anc s~ch taxes, x~ as to afiett this martRaRe, the holder of
- this mortg~ge and of the debt w•hich it secvres, shall h~~•r the nRht to gi~~e six (6) months' writtrn not~ce tc~ the owner of said
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land rec~uiring the pa~~ment o! the entirc indebtedness ..ecvtrrd hereh~~, and ~t ~s hereb~• agreed that if such notice be R~~~en the
- said in~ebtedness shall txcome due, and cc~llectible at the ex~iraNon of said six (6) months.
_ TH1RD: Th:t the mortFagor agrees to Fa}• all ~uher dehis that are n~~w ar ma~• become liens u~on ~r charges aRainst
said premises, and not to ~•ermit an~• lien ~•f an~ kind to accrue and remain on said prcmises, or the impro~~emrnts thereon,
a•hich might take precedence o~~er the lien of this mortgage. The m~~rtgagor further agrees no! to create any lirn on said
premises ~unioc heteto unless the ptrwn ent~t(ed to thc lxnetits thercof shall ha.~e aRreed that the t~me for the payment of
-x the indtbtedness hereb~ secured and the manner and amount ~f ~a~•ment there~~f and the benefits of the secunt}' at~+~rded •
hereb~• may, without cansent of wch ~erx~n and w•~thi~ut anti• ~,bligation to ~i~e n~~tiie of an~• kind thereto, be extended,
reextended, accekrated, susExnded and refunded un .~ny terms v?•hatu.e~er w•~th~~ut in an~• manner aHectinR the priont~~
- of the lirn hereb~ cre~ted as secvrity f~r the payment of the ~ndrbtedness secured hereby ar any obGgation subst~tuted
= therefor or issued to rcfund same
:y FOURTH: That the mortRa~~~r aRreec to keep said premises and impr~~~~ements thercy~n in Rood conditiun and rcpiir
and not to commit or sufter waste thereof; to oExrate all lands, w~hether ~rti~re~~ed ~astures, ~~rchirds, Rr~zinR, tember, or
crop lands, in a Rood and hushandmanlike mannrr in aa~~rdance w~th accepted pnnci~tes of u~und aRricuttural and f~restr~•
t~ practices; to tilce all reasonable precautions to c~~ntml w•ind an~l a•iter er~~,~~~n: a~ fert~l~ze impr~~~ed ~~stures, if any, a~here
~ necesszry to ttuintiin a good stand of desirable ~racses; t~~ ~r~~tert ~~rch~rds anJ timber. if an}•, b~• reau~nable ~raautu~ns
- aRainst loss o~ damage by hre includinR the maintenanre ~f a~~ropnatc tire breaks; and neither t„ remo~•e n~r permit the
remocal <~f anJ• timber. buildinRs, oil, ~as, m;nrrtl. stune. rc~ck. cla}. ferhlizer, ~racel ~x tue W~il with~~ut the pn~.r a•ntten
= rnnsent of the mortRaRee 'I~e m~~tqaGe~ sha~l ha~c the riRht t~ ~n~~e<t the m~~rt~s~ed ~m~crh• at such re~xinahle times
= and intrn•als as the moctRaRee ma} desirr. t~ determ~ne the m~rtRaRur's cum~l~~n<e a~ith the m~~enants rnntained in any
= clause ~f this mortgage.
~ FIFI'N: That the mortRa~or aRrees te~ ~rrxure, maintain and dcli.er. ~rem~ums pa~.~, tn the murtRaRee ~~lic~es of
~ insurance aRainst wch hazards on thr buildin,~~ n+~w ix hrreafter I~xated ~~n ~aid F~rem~se~ zc the m~~rt~aRee ma~• from time
to time rec~uire, in such rnmpanies and in such am~~unc and lorm anJ R ith such loss ~•a~•able C~1USf5 as shall tx satis(u-
torv to the mortRa~ee. The ~mort~iRee is auth~rizcd t~ assiRn and d~ti.er s~~d p.~l:c~es t~ anti• purchascr ~f this mc~rt~a~c or
to the purchaser of s~;d prem~ses ac anp fore.l~isure sale In e~ent r~f I~>ss the m~~rt~~~ee ~s ex~ressl~ ~uthorized and em-
poa•ered tu setde or compromise claims under saiJ E•uGc~es, and the pr~xeeds fr~lni sa~d ~licies as well u am• other Ex~licies
procured b~ the mc~rt~aRor shall tx paid to the murt};aRee w~h~~ at ~ts k~le d~scretiun m~}~ a~~ly s~me ~~r an~• pirt thermf on .
acrnunt of the indebtedness secured herebv R•hether ~x n~u then due and ~avahle. ~~r ma~ a~pl~• the same ur zm• {~art thereof
t~w~.~rds the altentic~n, rec~n~tr~cti~~n e~r re~a~r ~.f cai~i hu~l~l~nk~. c~thcr t~~ the j~~~rt~~~n d.~ma£e~l ~~r 3f1ti' ~~t}Itf ~~rtinn there.~f,
_ or reltau sam~ to the m.~rtRa~mr Suih a~Fl~~.~tn~n ~~r rclca+c ~h?II rn~t curc ~~r w~nc .,m drf.~ult ~~r m~hce ~~f .3eEault here- -
i under or im~al:dite a~y act done Fursurnt t~~ su~h n~~t~.c
- S1X'TH: 'Ihat in the e~ent the murt~aR~u shall ,ail tn ~.r;KUre, m~~nta~n a~.i drli.•er the insurance ~~Lries. ~remiums
- Fre~aid, or to F`3~', 1S the same he:~~r.~c ~Iue an,! ~a~ablr. am~ ta~ +~r ~.~r.unrnt ~mF,:•ed h~ tsw uM~n c~id rrcm~sec ~r am• p
i p~rt therrnf, or tht note. ~r indeMe.jnesc secured hereh~•. ~u t~~ p.ic ~m~ lien. ~ls:m •~r charze ~~.~m~t cuih `remisec vrhich
-i miqht tik~ precedence ~~~er the tien ~~f th~c m~~rt~;.~~;e ~~r t~~ t~~mc~h• w~th the ~r~~.~.~~mc ~~f ~3raKr.~~h F~~urth hercti~f, the
m~~rtRaFet mac, a•ith~~ut n~~t,re nr .~cm.in,~, in~~re sr.ti ~~f the hu~}.lin~. an,1 ~~n~ the ~~~st w~h ~n~uranre and ~~c am• ~f
- csid taxa, assessmcnts. ?~er.c. cia~m~ amj ~har~;e, ~ r.+m~ ~~rt thcrcc~F, ~~r rr.lec•m fn~rn :hc ~alc ~~f ali.! ~remite~ f~~t an~~
taxes or assessments ~irre~;ularities in the le~c ~r ~m~v~s~tum ~~f anti tax ~r ~su•tsment hein~t ex~ressly R'1I~'~tj), (~7 redetm
frc~m the uk of s~id preriices reculnnR frc~m the enforcement ~~f am• wch licn cli,m nr chir~e. ~~r rxrend such sums as
ma~• fx neeescan• to c~~rrclt the faiiure ~f the m~~rtk.~L;:~r t~~ ~~~m~1~• w•ith the ~r~~~is~~mt nf sa~d ~ar3~riph F~~rth. ind tht
- m~rtR~~«r hercbc aRreec immediateh• m re~a~• t~~ the m~~rt~~c;ec with~nrt nr.n~e ~r .{cman.l. arn• cum~ s~. ~aid a•tth interest
thereon at the ume r.~te ~s spec~fied +n the nate seiured hrreb~• ~~n the prmci{~~1 therr~~f ~fter default and maturit~•, and all
_ wms Rai.j h~~ !he mnrt~a~ee w•iih interect ch.?II he,~~me ~irt ~~f the ~r~lehte~~nesc c~ure~~ hereh~•, and in defiult ~f
::-;_f isnmediate rcpi~~mni! therec~f hc thr m~xt~a,~~~r the wh~~lc ~ndehte.#ne.c secure,l hercb}' shall at the o~t~un ~f tht m<~rt¢aRet
bec~~me due and }~~~.~hle f~~rthN~ch with~sut n~~ti~e
- SEVE'.~~['il That ~n the c.~~•nt thc m~~ctKaC~~: ~ell< <~r c~~mc~s ~i~~l ~rem~ses, ~~r am~ ~~rh~~n there~f, or, if the
m~rtRaRor ic a c~r~rati~,n. ~ells, trades ~~r di~~~e~ces ~~f m~~re th3~ r"~ uf its c~~r~~r.~te ~a~ck to persans othtr than
th~ ~rcKCnt oR~n~r~, thcin c~~rs ~nd ~~uat,ticd ~jirett~,rs prirr ti~ !he timc the ~ndehtedness ~e:ured hereh~ shaU ha~•t bten
; reduccd to s. . then, at the ~,pti~~n ~~f the m~~rtFa~ee. the entirc sai~.~ ~n~ebtedness sh~ll becomt due and pa}•able.
FiC:HTN T?iat the m~~ri~.~~;~~r aRrecs t~~ pa~• rm dcm?nd all cx~enses and atturneyc' fe~s ,nturrcd bv the mort~aqee by
rcison ~f I~hgation or Icgal ~rn~ec.l~nF~ in wh~~h thc mntt~;akce ~c ma~ie ~~arty t~~ ~rc~tnt the lien of this mortRaKe ind
= all m~ne~•s so ~~~d hs the m~~rt};aRee. in~ l~. iu~}; anti e!c~~en~r ~ncurred in pr~xurin~ or c~mtinuinq :bstracts of title and titk
polic~es and searchinR the rec~rds frr the ~ur~,ses ~~f surh lih~it~~~n. shall hear interest at the same nte u specified in the
~'f?R~ ~JU PAC.i ~~Jlt~7
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