HomeMy WebLinkAbout1460 (State of Floric~a d~cumentaz-~~ stzips in t,:~e amuunt. r~qt~irtd ti•~~ 1_uw are ~~fixe.~ to
the original of the foregoing note a:~:d czr.cel.c~d pur~~:~^.t to l~tv. )
And shall dct~yr, promg~~y ~l~d :Z~lly _°o?~m, dischar~e, execute, ef;'ect,
complete ar.d comply With and ~bide ty .•nc:, ~n:: evpry tl:e atipui.rstjons, arreetnents,
conditions and covenants of sa±d prorLSSOry :~o+.e and of this ~or*.ca~e, t2:en this
mortgage and the estate hereby cr~~te~~ sr.r'_1 cer:se and be null and void.
And the Mortgagor cover.~s:ts ~d ~~rees to ~nd with ±:t~e Norta,a_r,ee as follpWS; ~
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1. Re ~rill pay the prir.ci~^.Z ~.nd interest ~na ~he va: ieus and sundry siuns ~
of money payable by virtue of s~.id r~~m;s:ory n~te and this mort~~;e promptly on the {
days the sarne become due and he will pronuup~ly perform and comp~y With each and every ~
other covenant and agreement in said promissory note and mort~;a~3e.
2. He Wil1 p~y the taxes, assessments, levies, liabilities, ob~iRations
and inc~.unbrances of every nature ~nd kind now on said described property, or that
here~fter may be imposed, sw~ered, placed, levied or essessed thereon, or that here-
a;'ter n~ be levfed or assessed upon ~ris mortgage or the indebtedness secured hereby,
wren due and psyable according to l..aw. ~erore they become delinquent, and before at~
interest attaches or er~y penalty is incurred; and in so far as any thereof is of
reco:d the same sh~ll be promptl,y satisfied and dischar~ed of record and the original
nfficial document evidencing such satisfection and discharge sh~ll be placed in the
hands of said Mortgagee within ten days next after payment.
3. He Will keep the iucproven~ents na~a existing or hereafter erected on
the mortgaged progerty insured ~gzinst 3oss by fire and other hazards, casualties
and contingencies in such ~urits and f~r such periods as ma.y be re~uired by Mortgagee.
~11 insurance shall be carried in co~~nies approved by Mortgagee and the policies
and rene:rals thereo:' shall be heZd by h'crtgagee and hsve attached thereto loss payable
clauses in favor of and in form ~ecep'-~.able to the Mortgagee. In event of loss he will
give i~ediate notice by mail to Mort~a~ee, and Mortgagee may make prooP of loss if
not made prompt]~y by Mortgagor, and each insurance compar~v concerned is hereby suthorized
ar:d directed to make paym~ent for such loss directly to Mortgagee instead of to Mortgagor
ar.d hiortgagee ~ointly, and the insurance proceeds, or sryy part thereof,mgy be applied
by Mortgagee at its option either to t'r.e reduction of the indeb~edness hereby secured
~r to the restoration or repair of tIp ~roperty clamaged. In event of ~orec~osure of
this mortgage or other trans~er of ~i~le to the a,ortgaged property in extin~uuishment
of the indebtedness secured hereby, all right, title and interest of the Mortga.gor
in and to a~y insurance policies then in force shall pass to the purchaser or grantee.
4. He xill permit, eo2mait, or suffer no r~aste, impairment or deter~oration
of said property or any part thereof a.nd will keep all buildings and improvements
now or hereafter on said property in goad ~-epair and sri].1. make any repairs Which
Mortgagee in his discretion sha]1 deem necessaay for the proper preservation of said
buildin~s and i.mprovements.
5, He ~ri.ll'pay all and sin~ular tne costs, charges and ~expenses, including
reasonable attorney's fees, cost of abstracts of title and title searches a.ncurred
or paid at aRy time by the M.ortga~;ee because of the failure on the part of the Mortgagor
promptly and fliLly to perform the agreer~ents a.nd covenants of said note and this
. mr~rtgage, and said costs, charges and expenses shall be i~ediateZy due and payab2e
and shall be secured by the lien c° this mortgage, and such expenditures shall draW
~ interest at the rate of eight per centu~ per ann~. ~
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~ 6. That in the event of any breach of this mort~age or dePault on ~
~he part of the Mortgagor, or (b) in the event ar~y of said sums af money herein
referred to be not promrptly and f~lly paid without dema.nd or notice, or (c) in the
' event ~'r.e stipulations, agreements, conditions and covenants of said note and this
mor~gage are no t duly, promptly and f•:l.l~y performed, then in either Qr any such
event, the said aggregate staa mentioned in said note then remaining unpaid, srith
interest accrued to that time, and all moneys secured hereby, shall tecome due and
pa.yable forthwi~h, or thereafter, at the option of said Mortgagee, as fully and
coarplete~y as if all of the said s;nns o; money We•re originally stipulated to be paid
on such day, anything in said note or in this m~rtgage to the contrary not~rithstanding;
and thereixnon or thereafter, at the op~ion oY said Mortgagee, `rithout notice or
demand, suit at Isr~+ or in equity, may be prosecuted as if al1 m~neys secured hereby
had matured prior to its institution.
7. The Mortgagee mey, at any t~me WhiZe a sn.it is pending to foreclose
or to reform this mortgage, or to enforce any cla~ss axising hereunder, appl,y to
tY:e court having ~urisdiction thPreof for the appointment o4 a receiver, a.nd such
court shall forth~+i.th appoint a receiver af the premises and all other property ~
covered hereby, including all and sin~alar the income, profits, rents, issues and ~
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Sw'D Form M-2905 0 R
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