Loading...
HomeMy WebLinkAbout0066 PROVIDED ALWAYS, and these presents are upon theae expres9 condittons, that if Mortgagor ahall prompUy pay to riortg~gee Ori@ _ certain promissory note , even date herewith, made by _~_riCL11tt1Y'al Chemical Company, in the principal amount of $80,000.00 dated August 1, 1972 in instalments of $900.00 per month beginning December 1, 1972 until December 1977, with an interest rate of 7~96 per annum payable to the order of biortgsgee, at 601 Franklin Street - P. O. Box 1809, Tampa, Florida 33601 $160 documentary stamps attached to original note and cancelled. And until full payment thereof, or any e~ctensions or renewals thereof, in whole or in gart, and payment oi all other indebtedness or liability that may beoome due or owing hereunder and eecured hereby, shall faithfully and prompUy comply with and pedoi'm each and every other covenant and provision herein on the part of 1?iortgagor to be complied with and performed. then t6ese presents shall be void. And 1?iortgagor hereby covenants as follows: To pay, with interest, said notP and any extenaions or renewals U?ereol. in whole or in part. and all other indebtedness or liability hereby aecured, however created or evidenced, pmmptly when the same respectively becomes due; to pay and/or dixharge sny other amounts, indebtedr?eas and/or liability that may in the future become due, owing or outstanding from biortgagor to Mortgagee. however the same may be ox~may have been contracted. evidenced or accrued;. and that this mortgage ehall secure all such amounts, indebtedness and/or liability to the extent of 000 _ ~U , ir~ addition to aA other amoun~4 due or to become due hereunder as herein specified; to pay all taxes and .assessinenta levied or assessed upon said property before the same become delinquent~ and in no event to permit said property. or any part reof, to be aold for non-payment of taxes or assessments; to keep said property in good rePair and to permit. oommit or suffer e. impairment or deterioration thereof; to comply strictly with atl laws a~d governmental regulations and rules affecting said property or its operation; to pay all taxea ~ that may be levied or assessed on this mortgage or the moneys secured hereby. provided that in no event ehall the amount paid on account o! such taues. together with the interest paid on the indebtedness secured hereby. exceed the maximum interest rate allowed by Uw; to permit no mechanic's or other liens arising either by contract or by law. which might be prior in lien to the ~ien hereof, to be created or rest upon all or any part of aforesaid premises or property for ten days without the same being paid or released, and disct?arge oi said premises and property therefrom procured; and to pay ail o~sts and expenses incurred or paid by Mortgagee in collecUng the moneya hereby secured or in enforcing or pmtecting ffie rights and security o! the Mortgagee hereunder. including reaeoneble attorneys' fees. in the event said mortgage and note or other ~vidence of liability be placed in the hands of an attorney for collection. ~ Mortgagor further covenants to keep the Duildings, stiuctures and other improvemente now or hereafter erected or placed on I ihe premises and oonstituting a part oi the mortgage eecurity consiantiy insured against all loae or damage by fire in a sum not F l~ ~f'ull insurable Vc~l~~ ~~t all Ioss or damage by tornado or wlndstorm in a snm ot not ie~ uuu? ~ full insurable value ; , in insurance compeniea satisfactory to Mortgagee (but Mortgsgee ahall not be liable for the insolvency or irre.sponsibility o! any such oompaniea). end to prompUy pay all premiums for such irsurance. the polides repnaet~ting which shall be Qelivered to sad held by Mortgagee as additional security for the payment of the indebtedness and liabUity secur[ty hereby. All sums recovenble on say such ins urance policies shall be made payable to Mortgagee by a loas ~ payable clause satisfactory to ][ortgagee. to be attached to suc h poHcies. In the event any such insurance policy shall expire during the life hereof, Mortgagor agt+ees to procure and pay for renewal thereof, with the above requirements, replacing auch expireA pollcy, and deposit the same v~~ith Mortgagee. together with receipts ahowing payment in full of premiums therefor. ten days prior to the expiration date of such policy. In c~ae o! loss Mortgagee ia hereby authorized to adjust and settle any claim under any euch policy and ldortgagee is suthorized to oollect and receipt for any such insurance money and to apply the same, at Moctgagee'e option, in reduction ot the indebtednesa hereby aecured, whether due or not, or to allow Mortgagor to use such inaurance money, or any part thereof, in repairing the damage or restoring the improvements or other property without affecting the llen hereof for the full amount eecured hereby. It is furthar corenauted that Mortgagee may (but ahall not be obiigated ao to do) ad~ance moneys that should have been paid by Mortgagor hereunder in order to protect the lien or securlty hereof, and Mortgagor agrees without demand to forthwith repay such moneys, whtch amount shall bear interest irom the date so advanced until paid at the rate of per cent. per annum and shall be considered as so much additional indebtedness secured hereby; but no payment by Mortgagee of any auch moneys shall be deemed a waiver of Mortgagee'a right to declare the ptincipal sum due hereunder by reason of the default or ~zolation of Diortgagor in any of his covenants hereunder. ~ _ Mortgagor further covenants that granting any extension or extensions of the time payment of any part or all of the total ~ indebtedness or liability secured hereby, or taking other or additional security for payment thereof. shali not affect this mortgage ~ or the rights of Mortgagee hereunder, or operate as a release from any liabllity upon any part of the indebtedness hereby eecured. ~ under any covenant herein contained. ' It is further covenanted and made of the essence hereof that in case of default for tive days in the performance of any of ~ the covenants hereln on the part of Mortgagor, then it ahall be optional with Mortgagee to consider all unmatured indebtedness or ~ liability secured hereby, ar~d acerued intereat thereon, as immediately due and payable, without demand and without notice or declaration of said option, and Mortgagee shall have the right forthwith to institute proceedings to enforce the collection ot all ~ moneys secured hereby and/or to foreclose the llen hereot. ~ It is further atipulated and egreed by and between the parties that the Mortgagee at?ell have the right to exercise any option or pri~~ilege herein given or resened and to enforce any duty of the Mortgagor at any tirne without further or other notice ~ regaraleas of any prior walver by Mortgagee or detault of Mortgagor or deloy by Mortgagee in exercising any right, optton, or ~ privilege or enforcing auch duty oi Mortgagor, and no waiver by Mortgagee ot defsult of Mortgagor nor delay oi Mortgagee in exercising any right, privilege, or option or 1n enforcing any duty o! Hortgagor shall be deemed, held, or construed to be a wafver - of any of the terma or provfaions of thls mortgage or ot any eubsequent detaulG BOJK ~O5 VACE . _ - __s.~_ r,~.~~.~-~~.~