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(State oi' Flori3a ~~t~r~ntary s'~.~;.ps jn the s~maunt ~ e~u~.~a hy l~w q,~r, nfi~ixed t.a
the original of the foregoing not.e and canc~eled pi:rsuant to lav.)
And shall du~y, promptly and fla2~y p~rform, discharge, execute, effect,
complete and comply with and abide by eaeh and every t.ie s~ipulations, aRreem~nts,
conditions and covenants of said promissoiy nute and of th~s mortgage, then this
mortgage and the estate hereby created shall cease snd be null and void.
And the Mortgagor covenants and agrees to and ~rith the Mortga~ee as folloWS:
1. He ~rill pay the principal and interest and the various and sundry s~s
of money payable by virtue of said promiss~ry note a.nd this mortgage promptly on the
days the same become due arid he xill promptly perform and comp~}r With each and every
other covenant and agreement in said promissory aote and martgage.
2. He iri.ll p~y the tuxes, assessments, levies, liabilities, obligstions ;
and incinnbrances of every nature and kind noW oa :~i~ ~es~ribed nroperty, or that '
,
hereafter may be imposed, suffered, placed, levied or assessed thereon, or that here-
after ~y be levied or assessed upon this mortgage or the indebtedness secured hereby,
When due and payable according to laW, before they become delinquent, and before aq}r
interest attaches or ar~y pena.lty is incurred; aud in so far as any thereof is of
record the same shall be pron~pt~y satisfied arid discharged of record and the origina.l
official.doc~ent evidencing such sat~sfaction and discbarge shall be placed in the
hands of said Mortgagee within ten days next after payment.
3. He u?il~ keep the improvements now existing or hereaf~.er erected on ~
the mortgaged property insured ag~inst loss by fire and other hazards, casualties
and contingencies in such amounts and for s;~~h periods as may be required by Mortgagee.
All insurance shall be carried in coaQpanies approved by Mortgag~e and the policies
and renewals thereof shall be held by Mortgag~ee and have attached t2iereto loss ~yable
clauses in favor of and in form acceptable to the Mortgagee. In event of loss he will
give iffinediate notice by mail to Mortgagee, and Mortgagee may make proof oF loss if
not made promptly by Mortgagor, and each insurance compaqy concerned is hereby authorized
and directed to make payment for such loss direct~jr to Mc>rtgagee instead of to Mortgagor
and Mortgagee 3ointly, and the insurance.proceeds, or at~ p~rt thereof,may be agplied
by Mortgagee at its option either to the reduction of the indebtedness hereby secured
or to the restoration or repair of the property damaged. In event of forecZosure of
this mortgage or other transfer of title to the mortgag~ed property in e.Ytin~uishment
of the indebtedness secured hereby, all right, title and interest of the Mortgagor
in and to any insurance poZicies then in force shall pass to the purchaser or grantee.
4. He Wi11 permit, eonmmit, or suffer no Waste, i.mpairment or deterioration
of said property or any part thereof and will keep all buildings and i,mprovements
now or hereafter on said property in good repair and viLl make any repairs ~rhich
biortgagee in his discretion shall deem necessary for the proper preservation of said
buildings and improvements.
- 5. He ~rill' pay a.ll and sin~lar the costs, charges and expenses, including
reasonable attorney's fees, cost of abstracts of title and title searches incurred
or pa.id at ar~y time by the Mortgagee because of the failure on the part of the Mortgagor
promptly and f1Ll.l,y to perform the agreements and cavenants of said note and this
mortgage, and said.costs, charges and expenses shall be iam~diately due and payable
and shall be secured by the lien of this mortgage, and such expenditures shall draW
i nterest at the rate of eight per centu~ per anntmn.
6. That (a) in the event of any breach of this mortgage or default on ,
the part of the Mortgagor, or (b ) in the event ar~y of said sum.s of m~oney herein
referred to be not promptly and flilltiy paid without demand or notice, or (c) in the
event the stipulations, agreements, conditions and co~veuauts of said note and this ~
mortgage are not duly, promptly and f~lly performed, then in either or any such
event, the said aggregate swn mentioned in said note then remaining ~anpaid, irith
interest accrued to that time, and all moneys secured hereby, shall become dwe and
payable forth~?ith, or thereafter, at the option of said Mortgag~ee, as ~.t7.].y and
completely as if all of the said s~s of maney W+ere origina2ly stipulated to be paid
on such day, anything ia said note or in this m4rtgage to the contrary not~rithstandiag;
and thereupon or thereafter, at the option of said Mortgagee, ~rithout notice or
demand, suit at lax or in equity, may be prosecuted as iY all mc>neys secured hereby
had matured prior to its institution. ~
;
~ 7. The Mortgagee may, at a~r time While a suit is pending to foreclose
or to reform this mortgage, or to enPorce any claims arising hereunder, apply to
the court having ~urisdiction thereof for the appointanent of a receiver, and such
court shall forth~+ith appoint a receiver oP the premises and all other proper~y
covered hereby, includi.ng all and singular the iacome, profits, rents, issues and
SWD Form M-2906
~9-12-60) - 3 - i
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