HomeMy WebLinkAbout0844 .
(5tate of Florid.a documentary stamps in the amount required by lav are affixed to
the original of t~ foregoing a~~.e and canceled pursuant to lav.)
And shall duly, promptly and 21z1]y perform, discharge, execuie, effect,
complete and comply vith and abide by each an3 every the stipulatione, agreements,
conditions and coveaants of said promissory note and of this mortgage, then this
mortgage arid the estate hereby created shall cease and be null and void.
~
And the Mortgagor covenants and agrees to and vith the Mortgagee as follows:
1, He vill pe~y the principal and interest and the various and sundry s~s
of money pe~yable by virtue of said promissory ~aote and this mortgage prompt~y on the
days the same become du~e and he vill promr~:y perform and comply vith each and every ~
other covenant and agreement in said promissory note and mortgage.
2. He ~+ill pey the taxes, assessmenta, levies, liabilities, obligations ~
and inc~unbrances of every nature and kin8 norr on said described property, or that ~
hereafter may be imposed, suffered, placed, levied or assessed thereon, or that here- :
after may be levied or assessed upon this mortgage or the indebtednes~ secured hereby,
when due and p~yable according to la.v, before they become delinquent, end bePore a~r
interest attaches or ar~y penalty is incurred; and in so far as a~y thereoP is of
record the same shall be prompt~jr satisPied and discharged of record and the original
official document evidencing such satisfaction and discharge shall be placed in the
hands of said Mortgagee ~rithin ten days next after payment.
3. He vill keep the improvements no~r existing or hereafter erected on
the mortgaged property insured ag~inst loss by fire and other hazards, casualties
and 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 renevals thereof shall be held by Mortgagee and have attached thereto loss payable ;
clauses in favor of and in form acceptable to the Mortgagee. In event of loss he Will i
~ give iaanediate notice by mail to Mortgagee, and Mortgagee may make proof of loss if
' not made promptly by Mortgagor, snd each insurance eompa~y concerned is hereby authorized
~ and directed to make p$yment for such loss directly to Mortgagee instead of to Mortgager :
~ and Mortgagee ~ointly, and the insurance proceeds, or aqy pa~ct thereof,may be applied '
I by Mortgagee At its option either to the reduction oP the indebtedness hereby secured
~ or to the restora.tion or repair of the property damaged. In ev~ent of foreclosure of
~ this mortgage or other transfer of title to the mortgaged property in extinquishment
of the indebtedness secured hereby, all right, title and interest of the Mortg~gor ~
~ in and to any insurance policies then in force shall pass to the purchaser or grantee•
~ 4. He ~11 permit, eo~ait, or suffer no ~+aste, i~airment or deterioration
~ of said property or any part thereof and vill keep all buildings and improvements
; nov or hereafter on said property in good repair and will make aRy repairs ~+hich
~ Mortgagee in his discretion shall deem necessary for the proper preservation of said
~ buildings and improvements.
~
~
~ 5, ge ~rill'pay all and singular the costs, charges and e~cpenses, inclwdfng
~ reasonable attorney's fees, cost of abstracts of title aad titl,e searches incurred
~ or paid at anp~ time by the Mortgagee because of the failure on the part of the Mortgagar
~ promptly and fVlly to perform the agreements and covenants of said note and this
~ mortgage, and said costs, charges and expenses shall be inmediately due and p~yabLe ~
~ and shall be secured by the lien of this m~rtgage, and such expenditures shall drav
~ interest at the rate offi~~ per cent~ per annuma.
' 6. That (a) in the eveat of a~r breach of this mortga8e or default on
V the part of the Mortgag~r, or (b) in the event e~? of said swns of money herein
- referred to be not pro~ptly and *1zl~y paid vithout demand or tyotice, or (c ) in the
~ event the stipulations, ~agreements, conditions and cavenants of said not.P and this ~
~ m4rtgage are not du]y, promptly and itil.ly performed, then in either or any such
event, the said aggregate swa mentioned in said note then remaining unpaid, vith
i.nterest accrued to that time, and all m~neYs secured hereby, shall tecomoe due and
payable forthvith, or ttiereafter, at the optiop ~f said Mortgagee, as ftiilly and
- complete~}r as if all of the said s~s of money vere originally stipulated to be paid
= on such day, anything in said note or in this mc~rtgage to the contrary not~+ithstanding; ;
and thereupon or thereafter, at the option of said Mortgagee, ~rithout n~otice or :
- demand, suit at lav or in equity, me~y be prosecuted as if all mc>neys secured hereby ~
- had matured prior to its institution.
~
t
- 7. The Mortgag~e melY, at aqy time xhile a suit is pending to Poreclose
or to reform this mortgage, or to enforce an~? claims arising hereunder, apply to
the court having ~urisdiction thereof for the appointment of e~ receiver, and such
courL shall forthvith appoint a receiver of the pren¢ises aad all other property
~~i covered hereby, including ell and siagul,ar the inc~e, profits, rents, issues and
S4ID Form M-2906
~
(9-12-60) 3 80ROIC~~ PoKE ~ €