HomeMy WebLinkAbout0605 shall be written in forms, amounts, and by companies, ;
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~t-~---~^-~• *_~:e M^~"}~~~TeL~ and lossea thereunder shall
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be payable to the Mortgagee pursuant to a standard first
mortgag~ endorsement substant3ally equivalent to the New York
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standard mortgage endorsement. The policy or policies of
such insurance or copies thereof shall be delivered to the
Mortgagee. The Mortgagor shall give the Mortgagee prompt .
notice of any loss covered by such insurance. Any monies
received as payment for any loss under such insurance shall
be paid over to the Mortgagee and at his option applied to
payment of the principal and accrued interest under the
Note or paid to the Mortgagor in reimbursement for expenses
incurred by it in the restoration of the Mortgaged Premises,
aqainst appropriate lien waivers,and affidavits as are
generally required IOr zii~ u:isa`~ui ~~u~~,a
loan funds.
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i 8. The Mortgagor covenants and agrees that it
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' will conforn~ to and observe all ordinances, rules, laws
and regulations of the City and County in which the
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Mortgaged Premises are located, the State of Florida, and
the United States of America. Mortgagor covenants through-
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out the entire term of this Mortgage, at Mortgagor's sole
' cost and expense, to make all repairs, alter~tions and/or
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additions, whether ordinary or extraordinary, that may be .
required by any present or future law, ordinance or regulation
in connection with the Mortgaged Premises.
9. If the Mortgagor shall fail to perform any
of the covenants contained herein the Martgagee may make
advances to perform the same in its behalf, and all sums
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PAUL S TNOMSON, i37~ Ffi?$T NATlONAL DANK BIitLDINQ, MtAMI, FLORIDA 331~1
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