HomeMy WebLinkAbout3250 ~ n arc~rdance ti.•ith a~;proved ~~ethoc~s o= grove culture, anc3 agree ~
~ ~~~~t to r_op-~.~rork s~id ~ro•~•es withot~t t~e wrztten consent or LnE~
hold~~r ~K tilis ~•ort;a~Te, hrovided itirther that upon the failure
o~ t~.t~ Hort ;a~:or to `ully coI"PI}' wl~[1 any or all arovisions o~
thc~ a? ev~ coves~ants, the holder of the indebteciness securec~ here3.y,
i~~ adc~itior. to all its ather rig~ts and re~°edi =s for breach of
covenants in tris rortgage containec~, and in addiCion to its
riq~it, herehy expressl.v given, to declare a default upon the breach
o~ am: such covenant, =-~ay, at its o~tion, take such action as it
dee~ ,~eressary to preserve, r:~aint~i?: anc3 care ror the prer.~ise~,
anci said holder o` such inaebtedness is hereby qiven full rights
o` in ~ress and e:;ress to the prer.~ises ser.urin,~ this loan in order
to ~reserve, ~~~intain an:i care for such prer.~ises for so long as
alI or ai~y part o~ the inc3ebtedness secured hereb~r is unpaid, and
any reaso^aY~Ie expens~ incurred by it it~ so doing shall become part
of th~ i.^.d?rtee~ness s~cured, hereb~~, and shall becorce iramediately
due ar,c~ payaY~le and shall rear iiiterest at the rate provided herein
for T•atured oLligations~ however, it is expressly ~:nderstood and
agre~d that thF~ hoider o= such irtdpbtedness is under no obligation
to so ~io, ex.cept at its own election, and failure on the part af
such t:older to take anv action hereunder shall not constitute a
kaiver o= F>>rther rreaches of such covenants; it is further coven-
anted a:~~ ~c3reed },-y the said Mortgaqor that he wiil not mine or
c_ause, authorire or D~T'S^Lt any ining of phosphate, lirerock,
1 i:~~.esto~~~, c.la~~, sand, oil, petrolF~u~ vr an~ other mineral on the
lar.:~s securad 1y tY~~is ~~ort;age wzthout the prior written consent of
the ~?ortgagee and any violation o= this covenant shall give the said
1iort?aq~c the option to declare a default on said ^,ortgage and
accelezate the principal bajance due on the note hereY:y secured,
toq~th~r •.~ith any other rights in case of default as otherwise
provzciec~ ~ii; ~his instrti~ent, provided, however, that nothing con-
tainz d herein shal ~ orohi~ it anci restrict Mortgagor fror~ dev~loping
the al~ove de=cr i~~ed property for res idEnt ia i or co^~mercial purooses
and re~,ocinq aii ar ~ortio:~s o` saici grovc? in the eourse o~ ~uch
df~~~c~lcr-,ort .
E. To perforM, co~ply with, and at~ide t~:y ~ach and every
th~~ stipul~tions, ar,ree:- ents, conditions anc3 coveiiants in sa~_d
pro--issor•:- note, ~nd in this deed set fortn.
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If a:.~° o~ said su^~s of ;-oney her~ir, referred to k~e
~ot pro~~ptl}• and full~~ ~~aid within 30 days next after the sar-e
5!?~'C'~a; ?y i~eco-~e c?»e and payak~le, or zf each ana everv th~ stipula-
tion~,a:rr~~r ents, conditions and covenants o~ said pron~issor:~ note
and this deed, or either, are not ~u11y perforr~ed, co:~plied wi~h
and aY~iae:? 1:~,;, the saic: aqr,regate su-~ ~r.entione~ in said pror; issory
tIOC~? shal? :-a_co~ e due and oayar:l~ : orthwith or thereafter at the
c~tion or ~he ~tort~.~aqe~, its success~rs, le~;al representatives or
as~~;ns, full}~ and co plet~Iy as ir t;~e said a:~gregate s:~m of
~4~:7,~OO.~C° ~..~erA origi^ally sti~ulated to k~e pai~ on sach da~-,
an~.~thir.q ir-: said pro~iss~ry note or herein to the contrar_y IlOt-
.~ti~~hst~;,di:,~r.
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SNUTiS 6 BOWEN, ATTORNEYS•A7-IAW, AIIAYI, FLORIOA ~4~ ~ ~
(305) 356-6300
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