HomeMy WebLinkAbout0316 ~ 7'O('ETHER 1Y1T1i all and singular the tenemcnts. hercditaments and appu~tc~anccs thercuoto Ixbnging o~ in aoywiu
theteunto appertainin~ and thc rertts. iuuK and profits the~eot, and also aU the estate, ~ight, title, interat and aU ctaim and
demand whatwever, u well in law as in equity, of the said Mo~tgagor io and to the :ame, including but not limited to:
(a) All rents, pwfits, revenues, royalties, rights and benefits derived from ( i j crops grown on ~id securety and produce ~ '
of the soii otherwise (2) oil, gas or minera! leascs of the premises or any part thercot, now existing or hercinafter made, and
(3) al) othe~ rents, iuua and 'profit: o( the prrmises t~om time to time accruing, whether under leases or tenanciea now existing
oc hereatte~ cnated; in each such case with the right in the I?iortgagee, but only at its option, to receive and receipt the~efor
and to apply the same as it may elect to any indebtedness secu~ed hercby, and tht Mortgagee, at its option, may demand, sue for
and reco~~cr any such paymcnu, reserving to the ~iortgagor, however. w bng as said Mo~tgago~ is not in de(ault hereunde~, thc
right to rec~ive and retain such rents, issuea and profits.
{b) All judgments, awards of damages and uttlements hercafter made as a ~esult of or in licu ot any taking ot the
premises o~ any part thereof undcr the powcr of eminent domain, or for any damage• (whether causeti by such taking or othcrwise)
to the premises o~ the impro~•ements thereon or any part the~eof; such part of any such judgment, award or settlement, as thc
l~iortgagte may elect to be applied to the indebtedness hereby secured and the balance thereo(, if a~y, to be reserved to the
party o~ pa~tis oth~rwise entitled thereto.
TO HAVE AND TO HOI.D the above granted and describcd premises to the said I?tortgagee, its successon and auigns,
forn~e~, and the said I?Zortgagor does he~eby tully warrant the title to said land, and will defend the s~me aga~nst the la~vful
claims of all persons whomsoc~•er • pro~•idcd alwa~~s that if 1;ortgagor shal! pay to 11lortgagee that crrtain promissory notc abo~•e
desc~ibed and shall perform a11 othrr covenants and conditions oi said promiuory note, and o( any re~ewal, extension or modi-
fication thereof, and of this mortgage, then this mortgage and the estate hereby created shaii cease and be null and ~roid.
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1lfortgagor further covenants and agrees with Nortgagee as (ollows: ~
1. To pay all sums including interest secured heroby when due, as pro~•ided for in said promiuory note and any renewal, ~
. extension or mod~fication thereoi and in this mortgage, all such sums to be payable in lawfui money o( the United States of i
~ America at bio~tgagee's aloresaid principal o(fice, or at such other place as I?fortgagee may daignate in writing.
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2. To pay when due, and without requiring any notice from ~iortgagee, al! wxes, auess~nenu of any type or nature '
t and other chargcs levied or asscsscd against the premises hereby encumbercYl or any interest of ~lortgage therein. To immrdiately
pay and discharge any claim, lien or encumbrance against such premis~s which may be or become superior to this mortgage a~d
to permit no de[ault ~or delinquency .on any other lien, encumbrance or charge against such premues.
3. If required by I~tortgagee, to also make monthly deposiu with Mortgagee, in a non-intcrest bearing account, together
with and ih ad~ition to interest and principal, of a sum equal to one-hvellth of the yearly taxa and assessments which may be
Ie~Ted against ihe premises, and (if so required) one-twelfth o( the yearly p~emiums for insurance thereon. The amount of such
taxa, assessmenu and pmmiums, when unknown, shall be estimated by I?fortgagee. Such deposits shall be used by Mortgagee
to pay such taxes, assessments and premiums when due. Any insu(ficiency o[ such account to pay such charges wh~n due sha11
be paid by Mortgago~ to llfortgagee on demand. If, by reason of any default by Mortgagor under any provision of this mort-
gage, Mortga~ee declares all~ sums secured hereby to be due and payable, Mortgagee may then apply any funds in said account
against the ~ntire indebtedness secured hereby. The enforceability of the co~•rnants relating to taxes, assessments and insurance
premiums herein otherwise pro~~ideci shaq not be affected except in so far as those obligations have been met by ~ompliance welh
thu paragraph. I?iortqagee may from time to time at its option waive, and after any such waiver rcinstate, any or all provisions
hereot tequiring such deposits, by notice to Mortgagor in writing. ~Yhile any such waiver is in effect Mortgagor shall pay taxes. ~
asuumenu and insurance premiums as herein elsewhcre pro~•ided.
4_ To pay all taxes, stamp tau or other charge which may be assessed upon this mortgage, or said note, or indebtedness
secured hereby, without regard to any law, Federal or State, heretofore or hereatter enacted, imposing pay~ment of all or any
part th~reof upon ~fortcagee. in event of enactment of any law imposing payment of all or any portion of any such taxes upon
]liortgagee, or the rendering by any court of last resort of a decision that the undeirtaki~g by I?fortgagor, as herein p~ided, to
pay such tax or taxes u legally inoperative, then, unless Mortgagor neverthelas pays such taxes, all sums hercby secured, without
any deduction, shall at tht option of Mortgagee become immediately due and payable, notwithstanding anything containrd herein
or any law heretofore or hereaher enacted.
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S. To keep the premiscs insured against !ou or damage by fire, windstorm or extended coverage and such other hazards as il
\ may be required by Mongagee, in form and amounts satisfactory to, and in insurance companies approved by 1lfortgagee, and with i
acceptable mortgaqee loss payable claiisn attached_ Such policia, together with such abstracts and other title e~~dence as may ~
/ -be required by 1liortgagee, shall be delivercd to and held by Mortgagee without liability. Upon foreclosure oE this morigage or
~ ot'~?er acquisition of the premises or any part thereof by Mortgagee, said policia, abstracts and title evidence shall become the
absolute prop~rty of 1liottgagee.
6. To rnt obtain the writt~n conunt of Mortgagee, such consent to be granted or vrithheld at the sole discretion ot such
\iortgaece, before (a) removing or demolishing any building now or hereafter erected on the premisa, (b) altering the arrange-
ment, desi¢n or structural character ther~of, (c) maEi~tg any repain which inwhe the removal of structural parts or the
exposure of the int~rior of such building to the elements, or (d) except for domestic purposes, cutting or removing or permitting
the cutting and removal o( any trtes or timber on the premises.
! 7_ To maintain premises in good condition and repair, including but not limited to the making of such repain as Atortgagee
may (rom time to time determine to be necessary for the preservation of the premises and to not commit nor permit any waste thereof.
8. To comply with all laws, ordinances, regulations, covenants, conditions and ratrictions affecting the premius, and not
t to su(fer or permit any violation thereof.
9_ If Iltortgagor fails to pay any claim, lien or encumbrance which is superior to this mortgage, or, when due, any tax or
assrssment or insurance premium, or to keep the premises in repaer, or shall commit or. permit waste, or if there be commenced
any action or proceeding affecting the premises or the title thereto, then Mortgagee, at ib option, may pay said claim, lien, encum-
brance, taa, asseument or premium, with right of subrogation thereunder, may make such repairs and take such steps as it dcems
ad~•isable to prevent or cure such waste, and may appear in any such action or proceeding and retain counsel therein, and take
such artion therein as 1liortgagee dcems advisable, and for any of said purposa Mortgagee may advance such sums oi money,
including all costs, fers and other itcros of expense as it deems necessary. Mortgagce shaA be the sole judge of the legality,
~•alidity and priority of any such claim, lien, encumbrance, tax, auessment and premium, and of the amount necessary to be paid
in satisfaction thereof_ Mortgagee shall not be held accountable for any delay in malcing any such payment, which delay may ~
resutt in any additional interest, cost, charges or expense otherwise. ~
10. Mortgagor will pay to h[ortgagee, immediately and without demand, all sums of money advanced by tiiortgagee pursu- ~
a~t to this mortga,qe, together with interat on each such advancement at the rate of ten p~r cent. ( lOr/e ) per annum, and all
such sums and interest th~reon shall be secured hereby. "
I1. All suma of money secured hereby shall be payable without any relief whate~er (rom any•val~ation or appraisement laws.
12. If de(ault be made in payment of any instalment of principal or interest o( said note or any part thereof when due, or
in payment, when due of any other sum secured hereby, or in performance of any o( Mortgagor's obligations, covenanu or
agrcements hereunder, a11 of the indebtedneu secared hereby shall become and be immediatdy due and payable at the option of
Mortgagee, without notice or demand which are hereby expreuly waived, in which event Mortgagee may avail itself o( all rights
and remedies, at law or in equity, and this mortgage may be (oreclosed with all rights and remedies af[orded by the laws of
Florida and Mortgagor shall pay all costs, charges _a~d expensa thereof, including a reasonabte attorney's Eee.
BGOK P~Cf
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