HomeMy WebLinkAbout4168 This modgage is made, howtcer, subject to the followi~g covenants, conditions and agcctimcnts:
FIRST: That the mortgagor hereby agrees and covenants to pay the interest and principal heceby secured promptly
when due and if default be made in any part thereof, or in thc payment of any other monies hereby srcured, then the
same shaN. without demand if mortgagee shall elect, become due and payable at once and the mortgage may be foreclosed
in the manner provided by law.
SECOND: That the mortgagoc agrees to pay as the same become due and pay~abte all taxes, usessments, and other
charga imposed by law (induding ditch, canal, reservoir, or other water charges, taxes, or assessments) upon said.
pmnises or any pact thereof induding the mortgagee's interest therein and upon this mortgag~ or the note or indebtednas
stcured hereby, provided that should the amounts paid for the mortgagee under this paragraph for such taxa, usessments
and other charges together with the interest on the indebtedness exceed the highest interest rate p~rmitted by law on the -
indebtedness then owing, mortgagor shall nnt be liable to pay any of such excess o~•er the highest lawful rate. In the e~~ent
of the passage, after the date hereof, of any law by the State oF Florida, deducting from the value of land for the purpose
of taxation any lien thereon or changin~ in any way the existing laws for the taxation of mortgages or debts scrured by mort-
gagr for state or local pur~oses, or the manncr of the collection of any such taxes, so as to afiect this mortgage, the holder of
this modgage and of the debt w•hich it secura, shall ha~~e the right to gi~•e six (6) months' written notice to the ow~ner of said
land requiring thepa ~~ment of the entirr indebtedness secured hereby, and it if hereby agreed that if such notice be gi~•en the
said indebtedness shall become due, and collectiblc at the expirstion of said six (6) months.
THIRD: That the mortgagor agrees to Fay all ocher debcs that are now or ma~~ berome liens upon or charges against
said ptemises, and not to permit any lien of an~ kind to accrue and remain on said premises, or the impro.•ements thereon,
whith might take praedence over the lien of this mortgage. The mortgagor further agrees not to create an~~ lien on said
premises junior hereto unless the person entided to the bene6ts thereof shall ha~•e agreed that the time for the payment of
the indebtedness hereby secured and the manner and amount of pa~~rnent thereof and the benefits of the secunty afiorded
hereby may, without consent of such person and w ithout an}' obligation to giee notice of any kind thereto, be extended,
reextended, ucelerated, suspended and refunded an any terms whatsoe~•er w~thout in any manaer afiecting the priorit~•
of the lirn hereby created as smirity for the payment of the indebtedness secured hereby or any obligation substituted
therefor or issued to refund sune. '
FOURTH: Thit the mortgagor agrees to keep said premises and impro~•ements thereon in qood condition and repair
; and not to commit or suf~er waste thereof; to operate all lands, whMher impro~•ed {~astures, orchards, grszing, timber, or
! ccop lands, in a good and husbandmanlike manner in accordance with acce~ted principles of sound agricultural and fotestrf•
; practices; to talce al! reasonable precautions to control wind and water erosion: to fert~lrze irripro.•ed pastures, if any, where
t necessary to maintain a good stand of desirable grasses; to protect orch3rds arid timber, if an}, by reasonable precautions
y against loss or dunage by fire induding the maintenance of appropnate 6re breaks; and neither to remo~•e nor permit the
remo~•al of any timber, buildings,_oil, gas, mineral, stone, rock, clay, fertilizer, Rra.•el or top soil ~•ithout the prior w~ritten
s consent of the mortp,agee. The tnortgagee shall ha~•e the right to ~nspect the mortgaged property at such reasonable times
g and intervals as the mortgagee may desire, to determine the mortgagor's compliance with the co~enants contained in any
~ dause of this mortgage_
~ FIF'I'H: 'll~at the mortRagor aRrees to prcxure, maintain and deli~•er, premiums paid, to the mortgagee policies of
~ insurance against such hazards on the buildings now or hereafter located on said premises as the mortgagee may fmm time
~ to time require, in such comPanies and in such amount and form and with such loss ps~•sble clauses as shall be satisfac-
~ tory to the mortgagee. The mortgagee is authorized to assign and deli.•er said policies to any purchaser of this mortgaRe or
to the purchuer of said premises at any foreclosure sale. In e~•ent of loss the mortRaRee is expressl~• authorized and em-
~ powered to settle or compromise ctaims under. said policies, and the prcxeeds from said ~licies as well u anti• other policies
procured by the mortgagoc shall be paid to the mortRagee v~ho at its sole discretion may apply same or any part thermf on '
~ aaount of the indebtedness secured herebv whether or not then due and pa~•able, or ma~~ appl~ the same or any part thereof
~ towards the alteration, reconstruction or repair of said buildinqs, rither t~ the portic~n dama~ed ex an}~ ~ther ~rti~n thereaf,
£ or telease same to the mort~agor_ Such application or release shill not cure or w•ai~•c any default or notice of default here-
~ under or invalidate any act done pursuant to such notice.
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~ SIXTH: That in the evrnt the mortgagor shal) fail to prcxure, m3intain and deli~•er the insurance {x~licies, rremiums
prepaid, or to pay, as the same become due and pa}'ablc, an}' tax or asseasmcnt im~oscd hti- law u~nn said ~remises ~r any
~ ' pad thertof, or the note, or indebtedness sec~red hereb~•, or to pati• an}' lien, claim ~r char~e aRainst wch premises which
miRht take precedence o~•er the lien of this mortRaRe or to comply w~th the prorisionc ~f ~.~raRraph Fourth hereof, the
; mortga~ee mav, without notice or demand, insure an}• ~f the buildinRs znd p~~~ the cost of such ~nsurance and pay any of
said taxa, assessments, liens, claims and charRes. ~~r an} part there~~f, i~r « deem fr~m the sale of said Premises for any
_ taxes or assessments (irre~ularities in the levy or im~sition ~f an~• tax ~r assessment beinR expressly waieed), or redeem
frrnn the sale of said premises resultinR from the enforcement of an~~ such lien claim or ch:~rEe, or expend such sums as
_ may be necessarv to correct the failure of the mortQaRor to campl~~ with the pmcisions ~f said paraRraph Fourth, and the
_ mortRagor hereby agrees immediarely to repay to the m~rt~aQee. with~ut notice or demand. an~ sums so ~aid with interest
thereon at the same rate as speci6ed in the note secured hereby on the principal thereof after default and maturitv, and all
sums paid bv the mortgaRee with interest shall fxc~me a p;rt ~f the indebtedness secured herebv. and in default of
immediate repavment thereof by the mort~agor the whole indebtedness secured hereby shall at the option of the mortqagee
become due and payable forthw•ith a•ithout notice. _
SEVENTH: That in the evcnt the mort~aRor sells or com~eys said premises, or any portion thereof, or, if the
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mortRaRor is a corporation, sells, trades or dis{~c~ses of m~re than .-.-.-.......~'f~ of irs corporate stc~ck to persons other than
the present owners, their heirs and qualified directors prior to the time the indebtedness secured hereby ~hall have been
r~ 0.00
reduced to s.--.••••••••••-•-••-••.-. then, at the option of the mortRaRee, the entire said indebtedness shall become due and payable_
~;r EIGHTH: That thc mortgagor agrecs ro pay on dem~nd all expenses and attorneys' fees incticred by the mortgagee by
reason of litigation or legal prcxeedinRs in which the mortgaRee is made a party to protect the lien of this mortgage a~d
al) mon so aid b the mort a ee, includin an • ex nse incurred in «xurin or continuin abstracts of tide ind title
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~ policia and searching the records for the pur~+c~ses of such litigation, shall bear interest at the sameOrate ~;~i6ed in the
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