HomeMy WebLinkAbout1488 1~0C'ETN$R WITN atl and ungular~ the teneme~ts, hereditamenb and appurtenanca thercunto bebnging or in anywise
tbereunto appertainina and the rents, issua and protits the~eo(, and also all the atate~ right, title, interat and aA claim and
demand whsstsorve~, a~ weA in law as in cquity~ ot the said 1?tortgagor in and to the same~ includina but aot lia?ited to:
(a) AU rents, p~ta, revenues, ropalties, righu and ben~ts derived from (1) crops gmwn on said security and produce
o! the ~oil otherwise (2) oil. gas or mineral leases of the premises o~ any patt thereof~ now existir?a or hereina(ter made, and
(S) aU other rents, issua and 'peo[its of the p~+emises twm time to time aceruing, whether undcr lrases w tenancia now existina
or hereatter created; in each such case with the right in the l~lortgagee, but onty at ita option, to receive and raeipt the~efo~
and to apply the same as it may elect to any indebtedness secund here6y, and the Mortgagee, at itt option. may demand, sue tor
and reco~•e~ any such payments, reserving to ihe Mortgago~, however, so bng as said Mortgago~ is not in delault hereunder, the
right to recei~Y and retain such rents, iuua and profits.
(b) AA judgments, awards of damages and scttlements derea(ter made as a result of or in lieu o[ any tating ot the
premisa o~ any pan thereo! under the power o( eminent domain, or [or any damage (wbethe~ caused by such taking or othenvise)
to the premises or the impro~•ements thereon or any part thereof ; such part of any such judgment, award o~ settlement, as the
Mortgagee mag elect to be applied to the indebtedness hereby secured and the batance thereot, if any, to be reserve~d to the
party or partia otherwise entitla! thereto.
TO HAVE AND TO HOLD the above grantcd and describcd premises to the said Mongagee, iu succaso~s and auigns.
tore~~er, and the said Mortgagor does hereby (ully warrant the title to said land, and wiU defend the same agai~ut the lawiul
claims of all penons whomsoeve~; pr+ovided always that if Mortgago~ shall pay to Mortgagee that certain promissory aote aboee
descrihed and shall pedorm all other covenants and conditions of said promissory note, and oE any rcnewal, extension or modi-
~cation thereof, and of this mortgage, then this mortgage and the atate henby created shall cease and be null and wid. ~
Mortgag~or [urtLe~ covenants and agrees with Mortgagee as folbws:
1. To pay al! sums including interest securcd hereby when due, as pmvided ior in said promis~ory note and any renewal,
extension or mociification thereof and in this mortgage, all such sums to be payable in lawful money of the United States of 1
America at Mortgagee's atoresaid principal office, or at such other place as Mortgagee may daigaate in writing.
2. To pay when due, and without requiring any notice from Mottgagee, all taxes, assessmcnts of any type or naturc
and other charges lnried or auessed againat the pr~misa hcr~by encumbend or any interest of Mortgage therein. To immediatety
pay and discharge any claim, lien or encumbrance against such premises which may be or became superior to this mortgage and
to permit oo default or delinquency on any other lien, encumbrance or charge against such premises.
3. If rcquired by Mortgagee, to also make monthly deposits with Mortgagee, in a non-interest bearing account, together
with and in addition to interat and principal, of a sum equal to one-tw~Uth of the yeady taxa and assessments which may be
le~led against the premius, and (if so required) one-twelfth of the yearly premiums for insurance thereon. 1'he amount of such
taxes, aucssments and premiurtu, when unknown, shall be atimated by 1?iortgagte. Such depoaiu shall be used by Mortgagee
to pay such taxa, asseuments and prcmiums when due. Any iruu[ficiency o( such account to pay such charges when due shall •
be paid by Mongagor to Mortgagee on demand. If, by rtason of any default by Mortgagor under any provision of this mo~t-
gagq Mortgagee declares all sums secured hereby to be due and payable, Mortgaget may then appiy any funds in uid accouni
against the entire indebtedness secured hercby_ The enEorctability of the co~~enants nlating to ta:es, assemnents and insurance
prcmiums hercin otherwise pro~ided shall not be affectctif except in so far as those obligations have been met by compliance with
this paragraph. Mongagee may from time to time at its option waive, and after any such waiver reinstate, any or all provisions
hereof requiring such deposits, by notice to Mortgagor in writiqq. While any such waiver is in effect Mortgagor shall pay taaes,
asussments and insurance p~emiums as hereia elsewhere provided.
4. To pay all taxes, stamp tax or other charge which may be assessed upon this mortgage, or said note, or indebtedness
securru i?crci,y. ~n,ittaout ic.~a:u i:, auy i~w, FPderal a: ~t~t,, !:w*r!~~^~r h~Maft~r ~~.artr+#, imnexing payment of all or anY
part thereot upon Mortgagee. In event of enactment ot any law imposing payment of all or any portion of any ruch ta~ces upun
Mortgagee, or the rendering by any court of last resort of a decision that the undertaking by Mortgagor, as herein provided, to
pay such tax or taxes u legally inoperative, then, unless Mortgagor nevertheless pays such taxes, all sunu Lereby secured, witl~out
any deduction, shall at the option of Mortgagee become immediatdy due and payable, notwithstanding anything rnntained herein
or any law heretofore or hereatter enacted.
5. To keep the premises insured agaimt loas or damage by fire, windstorm or a~trnded coverage and mch other hazards as
may be required by Mortgagee, in form and amounts satisiactory to, and in insurance companies approved by Mortgagee, and with
acc~ptabte mortgager bss payable clauxs attached. Such policirs, together with such abstracts and other tide evidence as may .
be required by Mortgagee, shall be delivered to and hdd by Mongagee without liability. Upon forecbsure of this mortgage or
other acquisition of the premises or any part thereof by Mortgagee, said policies, abstracu and title evidence shall become the ~
absolute property o[ Mortgagee. ~
6. To Gnt obtain the written conunt of Mongagee, such consent to be granted or withheld at the sole discretion of snch
1lfortgaqee, before (a) nmoving or demotishing any huilding now or hereafter erected on the premises, (b) altering the arrange-
ment, drsiqn or structural charaeter thereof, (c) making any repain which involve the removal ot struetural parts or the
exposure of the interior of such building to the elements, or (d) except for domatic purpoaa, cutting or removing or permittiag ~
the cutting and rcmoval of any trees or timber on the premises.
7. To maentain prcmisa in good condition and repair,.including but not limited to the making of such npain as Mortgagee
may from time to time determine to be nceessary for the praervation of the premises and to not commit nor permit any waste thereof.
8. To comply with all laws, ordinanca, regulations, covenants, conditions and ratrictioru affecting the premi~es, and not
to suffer or permit any violation thereof.
9. 1f Mortgagor fails to pay any claim, lien or encumbrance which is mperior to this mortgage, or, whrn due, any taz or
assessment or insurance prcmium, or to keep the prcmises in repair, or shall commit or permit waste, or if there be coaunrnced
any action or proceeding affecting the premises or the title thercto, then Mortgagee, at its option, may pay said daim, lirn, encuin-
brance, tax, auessmcnt or premium, with rig6t of subrogation thereunder, maq make such repain and take such ste~ as it derms
advisable to prevent or cure auch waste, and may appear in any such action or proceeding and retain counsel therein, and tate
such action thercin as Mortgagee deems ad~vable, and for any oi said purposes Mortgagee may advance such sums ot money,
including all costs, fees and other items of expense as it deeau necasary. Mortgagee shall be the sole judge of the legality,
~•alidity and priority of any suc6 claim, iien, encumbraneq tu, assasment and premium, and of the amount necessary to be paid
in satisfaction thereol. Mortgagee sha11 not be held accountable tor any delay in tnaking any such payment, which delay may
tesult in any additiooal interat, cost, charga or a~pense otherwise.
10. Mortgagor wip pay to I~iortgagee, immediately and without dema~d, all sums of money advanced by :~iongagee pursu-
ant to this mortgage, together with iaterat on each such advancement at the rate of ten per cent. (1096 ) per annum, and alI
wch sums and interat thereon shaU be secured 6ereby.
11. All aums ot money secured hereby sha11 be parable without any nlief whatever from any valuauon or appraisement laws_
12. If default be made in parment of any instalment of principal or interest o[ uid note or aay part thereof when due, or
in payment, when due of any other sum secured hereby, or in pedormance of any of Mortgago~s obligations, covenants or
agrcements hereunder, all of the indebtednw secured huebp sha11 become and be ;ramediate}p due and payable at the option of
Mongagee, without notice or demand which are 6ereby acpraslr waived, in w6ich evrnt Mortgagee mar avail itself of all rig6b
and remedies, at law or in equ.ty, and this mongage may be forecloxd with all righb and remcdia afforded by the Ja~ of
Florida and Mortgagor shall pay all costs, charges and e:penus thereol, including a reasonable attorne~s fee.
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