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HomeMy WebLinkAbout1229 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 binds.ng force and effect. AND the Mortgagor hereby further covenants and agrees as follows: i ~ 1. That he will pay all and singular the taxes, assessments, levies, liabilities, obligations, and encumbrances of every nature ` on said property. 2. Z'hat he will permit, com~nit, or suffer no waste, im- pairment or deteriation of said land or the improvements thereon at any time. ~ 3. Z'hat all sums of inoney paid or caused to be paid by the Mortgagees under the terms of this mortgage and herein specifically ! provided for, and including any expenses incurred by Mortgagees in ~ collection of the sum secured by this mortgage shall be covered by the lien of this mortgage, the same as the sums of money represented by the note which this mortgage secures. 4. That in the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public use under the power of eminent domain, the Irbrtgagee shall have the right to demand that all damages awarded for the taking of or damages to said pre- ~ mi.ses shall be paid to the Mortgagees, 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. Z'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, conditions and covenants of the notes above referred to 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, any- thing in said notes or herein to the contrary notwithstanding. Failure by the Mortgagees to exercise any of the rights or options ~ herein provided shall 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 is = reduced to $75,000.00, this mortgage shall, at the option of the ~ mortgagor, be cancelled, provided that the liability of the Mort- ~ gagor as maker of tlze aforesaid notes shall not be affected by such _ ~ cancellation. ~ 7. That the 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 un- ~ paid, such care and maintenance to include cultivating, spraying, ~ dusting, 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 ; s' proved methods of grove culture, provided that upon the failure of ~ the Mortgagor to fully comply with the provisions of this covenant ~ the holder of the indebtedness secured hereby, in addition to all _ other rights and remedies for breach of covenants in this mortgage contained, may, at their option, take such action as they deem ~ necessary to preserve, maintain and care for such groves, ard they are hereby given full rights of ingress and egress to the premises securing this loan in order to so preserve, maintain and care for ' such groves for so long as all or any part of the indebtedness ~ '3 1 I % [ ' ~ _ ~ _2_ i ~1 :r ~ $OOK~ P~CE~~ ~ - - - - - - - ~ ~s__ ti , k _ _ _ _ ~w:- : ~ F . . ' M , . = - ~;~,.y~~~~~:.,....