HomeMy WebLinkAbout3983 This modgage is made, however, subject to the Eollowing covenants, conditions and agreements:
FIRST: That the mortgagoc hereby agrees and co~•enants to pay the interest and principat hereby secured promptly
when due and if default be made in any part thereof, or in the payment of any othec mon~es hereby secured, then the
ume shall, without demand if moctgagee shall elect, become due and payable at once and the mortgage may be foralosed
in the manner providcd by law.
SECOND: That tht mortgagor agrees to pay u the same become due and payable all taxa, uxsscnents, and other
charga imposed by law (including ditch. canal, resen~oir, or other water charges, taxes, or usessments) upon said
premises or any part thcreof induding the mo~tgagee's interest therein and upon this mortgage or the note or indebted~as
secuted hereby, ptovided that should the amounts paid for the mortgagee under this paragraph tor such taxes, usessments
and other charges togeth~r with the interest on the indc~tedness exceed the highest interest ratepe rmitted by law on the
indebtedness thrn owing, mortgagor shall not be liable to pap any of such excess o~•er the highest laa•ful rate. In the event
of the passage, after the date hereof, of any law• by the State of Florida, deducting from the ~-alue of land for the purpose
of taxation an~ lien thereon or changing in any way the existing laws for the taxation of mortgages or debts secured by mort-
gage for state or localpu rposes, or the manner of the collation of any~ such taxes, so as to afiat this mortgage, the holder of
this modgage and of the debt which it secures, shall ha.e the right to gi~•e six (6) months' writtrn notice to the owner of said
tand requiring the paymrnt of the rntire indebtedness secured hereb~, and it is heceby agreed that if such notice be gi~•rn the
said in~ebtedness shall become due, and collectible at the expiration of said six (6) months_
THIRD: That the mortgagor agrees to pay all ocher debts that are now or may become liens upon or charga against
said pcemises, and not to permit any lien of an} kind to accrue and remain on said prrmises, or the ~mprovements thereon,
whicF~ might take precedence over the lien of this mortgage. The mortgagor further agrees not to create any lien on said
premises junior hereto unless the person entitled to the benefits thereof shall ha~•e agreed that the time for the payment of
the i~debtedness h~reby secured and the manner and amount of pa~~ment thereof and the benefits of the secunty afforded
hereby may, without consent of such person and without any obligation to gi~•e notice of any kind thereto, be extended,
reextended, ucelerated, susprnded and refunded on any terms whatsoe.•er without in any manner affecting the priority
of the lirn hereby created u setvrity for the pafinent of the indebtedness secured hereby or any obligation substituted
therefor or issued to refund sazne.
FOURTH: That the mortgagor agrees to keep said premises and improeements thereon in good condition and repair
and not to commit or sufkr waste thereof; to op~rate all lands, whether impro~•ed pastures, orchards, grszing, timber, or
crop lands, in a good and husbandmanlike manner in accordance with acce~ted principles of sound zgricultura) and forestry
prachces; to take all reasonable precautions to control wind and water eros~on- to fert~l~ze impro~•ed pastures, if an}•, whae
naessary to maintain a good stand of desirable grasses; to protect orchards and timber, if an~•, by reasonable precautions
` against loss oc damage by fire induding the maintenance of appropriate fire breaks; and neither to remo~•e nor permit the
; remo~•al of any timber, buildings, oil, gu, mineral, stone, rcxk, clay, Fertilizer, gra.•el or top soil without the pnor written
y consent of the mortgagee. 'il~e mortgagee shall ha~•e the right to inspect the mortgaged property at such reasonable tima
~ and intervals u the moctgagee may desire, to determine the mortgagor's compliance with the co~~enants contained in any
~ dause oF this mortgage. _
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~ FIFTH: That the mortgagor aRrees to procure, maintain and deli~er, prem~ums paid, to the mortgagee policies of
~ insurance against such hazards on the buildings now or hereafter located on said premises as the mortgagee may from time
A to time reyuire, in such comPanies and in such amount and form and with such loss payable clauses as shall be satisfac-
~ tory to the mortgagee. The mortgaRee is authorized to assign and delirer said policies to an~ purchaser of this mortgaqe or
~ to the purchaser of said premises at any foralosure sale. In e~~ent of loss the mortgagre is expressl~ authorized and em-
powered to settle or compromise claims under said policies, and the prcxeeds from said policies as well as an~• other poticia
~ procured by the mortgagor sh~ll be paid to the mortRagee who at its sole discretion may apply same or any part thereof on
~ aaount of the indebtedness sectired herebv phether or not then due snd pa~•able, ~r ma}• appl~ the same or any part thereof
~ towards the alteration, reconstruction or repair of said buildings, either t~ the p~rti~~n dama~;ed ~r an~• ~ther ~rtion thereof.
~ or release same to the mortRagor. Such application or release shill not cure <x w•ai~•e any default or notice ~f default here-
under or invalidate any act done pursuant to such notice.
~ S1XTH: That in the event the mortgaRor shall fail to procure, m3intain and deli~~er the insurance ~licies, premiums
~ pnpaid, or to pay, as the same become due and pa~•able, an~ tax ar assessment im~sed b~• law u~n said premises or any
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g pad therrnf, or the nMe, or indebtedness secared hereby, or to pav any_ lien, claim ~r charQe a~.~inst such ~•remises which
_ m~Rht take precedence o~er the lien of this mortgaRe or to comply wrth the procisions of paraRraph Fourth hermf, the
~ mortgagee mav, without notice or demand, insure any ~f the buildinRs and ~a~• the cost of such insurance and pa} any of
~ said taxa, assessments, liens, claims ar.d charges. ~r any part therre~f. ~r redeem fmm the sale of said premises for any
- taxes or assessments (irregularities in the le~y or im~sition of any tax ~r assessment beinR expressly waived), or redcem
from the sale of said premises resultinR from the enforcement of am• such lien claim or charQe, or expend such sums as
may be necessarv to correct the failure of the mortqaR~r to comply with the pro~~isions of said paragraph Foutth. and the
rmirtRagor hereby agrees immediately to repay to the m~rtqaqee, a•ithout notice or demand. anc sums so oaid with interest
- thereon at the same rate as specified in the note secured hereby ~n the principal thereof after default and maturitv, and all
_ sums paid bv the mortgagee with interest shall bcrome a part of the indebtedness scrured herebv. and in default of
immediate repav~t thereof by the mortRagor the whole indehted~ess secured hereby shall at the option of the mortgagee
become due and payable forthwith without notice.
- SEVEIVTH: That in the event the mortRaRor sells or com•eys said premises, or any ~+ortion thereof, or, if the
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'r mortRa~or is a corporation, sells, trades or dis~ses of more than ...SO.......~f~ of its corporate stcxk to persons other than
the present owners, their heirs and qualified directors prior to the time the indebtedness secured hereby shall have been
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reduced to;....O...QO...._...., then, at the option of the moctgaRee, the entire sa~d indebtednas shall become due and payable.
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~j= EIGHTH: Th~t the mortgaRor agrees to pay on dem~nd all expenses and attomeys' fees incurred by the moctgagee by
r~ason of litigation or legal proceedinqs in which the mortgaRee is made a party to protat the lien of this mortgage and
all money-s so paid by the mortRagee, ~ncludinR any expense incurred in procuring or continuing abstracts of tide and titk
policia and searching the records for the purposes of wch litigation, shall bear interest at the same rate u spai6od in the
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