HomeMy WebLinkAbout1226 shall become due, according to the true intent and meaning ~
thereof, together with all costs, charges and expenses, includ-
ing a reasonable attarney's fee, which the Mortgagee may incur :
or be put to in collecting the same by foreclosure or otherwise, ~
or in protecting the security of the Mortgagee, whether by suit ±
or otherwise and shall well and truly keep, observe, perform, _
comply with and abide by each and every one of the stipulations, '
agreements, conditions and covenants of the said Promissory Notes
and this mortgage as and when required thereby then this Mortgage
and the estates hereby created shall cease and be null and void,
otherwise the same shall remain a bindinq force and effect.
FiND the Mortgagor hereby further covenants and agrees as
follows:
1. That he will pay all and singular the taxes, assessments, ~
levies, liabilities, obligations, and encumbrances of every nature i
of said property. ~
2. That he will permit, comomit, or suffer no waste, impair-
ment or deteriation of said land or the improvements thereon at
any time.
3. That all sums of money paid or caused to be paid by the
Mortgagee under the terms of this mortgage and herein specific-
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ally provided for, and including any expenses incurred by Mortgagee
in collection of the sums secured by this mortgage sha11 be covered
by the lien of this mortgage, tYie same as the sums of money repre-
sented by the notes which this mortgage secure.
4. That in the event the premises hereby mortgaged, or any ;
part thereof, shall be condemned and taken for public us~ under
the power of eininent damain, the Mortgagee shall have the right ;
to demand that all damages awarded for the taking of or damages ~
to said premises shall be paid to the I~rtgagee, up to the amount
then unpaid on this mortgage and the obligations secured hereby
and shall be applied upon the principal balance hereof and shall
constitute a partial or complete prepayment, as the case may be.
5. T'hat if any sum of money herein referred to be not ~
promptly paid within twenty (20) days next after the same becomes ~
due, or if each and every of the agreements, stipulations, con- ~
~ ditions and covenants af the notes above referred to and this ~
mortgage, or either, are not fully performed, then the entire S
sums mentioned in said notes, and this mortgage, or the entire
balance unpaid thereon, shall forthwith or thereafter, at the
option of the Mortgagee, become and be due and payable, anything ;
in said notes or herein to the contrary notwithstanding. Failure ~
by the Mortgagee to exercise any of the rights or options herein ~
provided shal]. not constitute a waiver of any rights or options
under said notes or this mortgage accrued or thereafter accruing.
6. At such time as the total indebtedness secured hereby
shall be reduced to $17,500.00, Mortgagor shall be entitled, upon
written demand, to a good and sufficient release, in recordable ;
form, of the lands described in Parcel II hereof, from the lien =
of this mortgage. ~
7. That Mortgagor will preserve, maintain and care for the ~
citrus grove now upon the above described premises for as long as #
all or any part of the indebtedness secured hereby remains unpaid, ~
such care and maintenance to include cultivating, spraying, dust- ~
ing, pruning, fertilizing, watering, protection against damage by :
fire, marketing of crops and replanting of trees when needed, all '
to be done in a husbandlike manner and in accordance with the
proved methods of grove culture, provided that upon the failure of a
the Mortgagor to fully comply with the provisions of this covenant
the holder of the indebtedness secured hereby, in addition to all f
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