HomeMy WebLinkAbout2374 (State of Florida documentary sta~ups in the amount required by laW are affixed to
the original of the foregoing note and canceled pursuant to Iav.) ,
And shall duly, promptly and fltlly perform, discharge, execute, effect,
complete aad comply with and abide by each and every the stipulations, agreements,
conditions and covenants of said promis~ory note and of this mortgage, then this
mortgage and the estate hereby creat,ed shall cease and be null and void.
And the Mortgagor covenants and agrees to and with the Mortgagee as folloWS:
l. He Will pay the principal and interest and the various and sundry swas
of money payable by virtue of seid promissory note and this mortga~e promptly on the
days the same become due and he Kill promptly perform and comp~jr With each and every
other covenant and agreement in said promissory note and mortgage.
2. He will pay the taxes, assessments, levies, liabilities, ob~igations ~
and inciunbrances of every nature and kind nov on said described property, or that
hereafter may be imposed, suffered, placed, levied or assessed thereon, or tha.t here-
after may 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 at~y
interest attaches or ar.~y penalty is incurred; and in so far as at~y thereof is of
record the same shall be promptly satisfied and discharged of record and the original
official document evidencing such satisfaction and discharge sh~ll be placed in the
nands of said Mortgagee within ten days next after payment.
3. He Will keep tl:e~ improvements now existing or hereafter erected on
the mort~aged property insured ag~.inst loss by fire and other hazards, casualties
and contingencies in such amounts and for sueh periods as may be required by Mortgagee.
AlZ insurance shall be carried in companies approved by Mortgagee and the policies
and renewals thereof shall be held by Mortgagee and have attached thereto loss payable
clauses in favor of and in form acceptable to the Mortgagee. In event of loss he will
give inm~ediate notice by mail to Mortgagee, and Mortgagee may make proof of loss if
not made promptly by Mortgagor, and each insurance compa~y concerned is hereby authorized
and directed to make payment for such loss directly to Mortgagee instead of to Mortgagor
and Mortgagee ~ointly, and the insurance proceeds, or ar~y part thereof,may be applied
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 foreclosure of
this mortgage or other transfer of title to the mortgaged property in extinp,uishment
of the indebtedness secured hereby, all right, title and interest of the Mortgagor
in and to any insurance policies then in force shall pass to the purchaser or grantee.
He Will permit, coaunit, or suffer no Waste, impairment or deterioration
of said property or any part tHereof a.nd will keep aLt buildings and improvements
noW or hereafter an said property i.n good repair and Will make any repai.rs ~hich
Mortgagee in his discretion sha11 deem necessaay for the proper preservatfon of said ~
buildings an@ i.mprovements. ~
5• He will.'pay all a.nd singular the costs, charges and expenses, including
reasonable attorney's fees, cost of abstracts o~' title and title searches incurred ~
or paid at ac~y time by the Mortgagee because of the failure on the part of the Mortgagor
; promptly and flLLly to perform the agreements and covenants of said note aad this
mortgage, and said costs, charges and expenses shalt be iannediately due and payable
and shall be secured by the lien of this mortgage, and such expenditures shall draW
; interest at the rate of eight per cent~ per anni.mo.
' 6. That (a) in the event of ariy breach of this mortgage or default an
' the part of the Mortgagor, or (b) in the event ar~y of said s~s of rn~ney herein
; referred to be not promptly and f~.il.ly paid vithout demand or n~otice, or (c) in the
E event the stipu~l.ations, agreements, conditions an`d covenants of said note and this
E mortgage are no t duly,~promptly and fulJ~ performed, then in either or any such
event, the said a.ggregaf.e stun mentioned in said note then remaining unpaid, ~ith
interest accrued to that time, and all moneys secured hereby, shal], recome due and
payable forth~rith, or thereafter, at the option of said Martgag~ee, as fully and
: completel,~r as if a7.1 of the said s~uns of money ~rere originally stipulated to be paid
` on such day, anything in said note or in this mortgage to the contrary notWithstanding;
; and thereupon or thereafter, at the option of said Mortgagee, t~rithout notice or
" demand, suit at laW or in equity, ma~y be prosecuted as if all moneys secured hereby
> had matured prior to its institution.
; 7. The Mortgagee may, at any time While a suit is pending to foreelose _
E or to reiorm this mortgage, or to enforce any cl.aims arising hereunder, apply to
the court havir,g ~urisdiction thereof for the agpointa~ent of a receiver, and such
; court shall forthWith appoint a receiver of the premises and all otY~r property
covered hereby, including all and singular the income, profits, rents, issues and
€
~
St~+TD Form M-2906
(9-12-60) - 3 - 600K208 ~A~F23?4
.
~ Y = _ ~
~ ; -
~ ~ 3 k - ~-....~r~
T"'s'~- f-~ iw.--E
" eY
. _ . . _ _<A~i _ .