HomeMy WebLinkAbout2708 (State o! Florida documentary stc~nps in the amount required by law are affixed to
the ori~inal of the Poregoing note and caaceled pursuant to lav.)
And shs~21 duly, promptly and fl~lly perPornn, diacharge, execute, effect,
complete and coa~ply vith~and abide by each and every the stipuls.tions, agreements,
conditions and covenants of said promissory uote and of this m~rtgage, then this
Ynortgage and the eatate hereby created shall cease and be null a.nd void.
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And the Mortgagor covenants and~agrees to and irith the Mortgagee as follo~rs: ~ `
1. He will pay the principal and interest sad the various and sundry swms
of na~y p~yable by virtue o#' said gromissory note and this mortgage promptly on the
days the same become due and he aill promptly perform and comply vith each and every
other covenant and agreement in said promissory note and mortgage.
2. Re ~rill pay the taxes, assessments, levies, liabilities, obligations ±
and incwnbrances of every nature and kind nox on said described property, or that `
hereafter m~y be imposed, su1'f'ered, placed, lev;ed or assessed thereon, or that here-
after mqy be levied or assessec3 upon this m~rtgage or the indebtedness secured hereby,
When due and pa~yable accorc'ling to laW, before they become delinquent, and before at~r
interest attaches or any penalty is incurred; and in so far as any thereof is of
record the same shall be pro~ptl,y satis~ied and discharged of record and the original
official document evidencing such satisfaction and discharge shall be placed in the
hands of said Mortgagee within ten days next after payment.
3. He ~rill keep the impravements noW existing or hereaf'ter erected on
the mortgaged property insured ag~inst Zoss by fi.re and other hazards, casualties
and contingencies in~such amounts and for such periods as may be required by Mortgagee.
All insurance stiall be carried in companies approved by Mortgagee and the•policies
and renewals thereof shall be held by Mortgagee and have attached thereto loss p&yable
clauses in favor of a.nd in form acceptable to the Mortgagee. In event of loss he kill
give i~ediate notice by mail to Mortgagee, and Mortgagee may make proof of loss if
not made promptly by Mortgagor, and each insurance compar~y concerned is hereby authorized
and di~rected to make paym~ent for such loss directly to Mortgagee instead of to Mortgagor
and Mortgagee 3ointly, and the insurance proceeds, or any 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 ev~ent of foreclosure of ~
this aartgage or other transfer of title to the mortgaged property in extinguisYiment ;
of the indebtedness secured hereby, all right, title and interest of the Mortgagor f
in and to any iflsurance policies then in force shall pass to the purchaser or grantee.
4. He ~rill permit, eo~aait, or suffer no ~+aste, i~apairment or deterioration
cf said property or any part thereof and will keep all buildings and improvements
now or hereafter on said prcperty in good repair and ~rill make any repairs xhich
b'ortgagee in his discretion sna11 deerc necessary for the proper preservation of said ~
buildings and improvements.
5. He will'pay all and~sin~:l.ar the costs, charges and expenses, incZuding ~
reasonable attorney's fees, cost of abstracts of title and title searches zncurred ~
or paid at at~y time by the Mortga.gee because of the failure on the part of the Mortgagor ~
prompt~y and flilly to perform the agreements and covenants of said note and this 3
m~rtgage, and said costs, charges and expenses shall be iaunediately due and pa.yable 3
and shall be secured by the lien of this mortgage, and such expenditures shall draW
interest at the rate of eight per cente~ per annwoa.
~ 6. That {a) in the event of any breach of this m~rtgage or default on
~he part of the Mortgagor, or (b) in the event any of said sums of money herein
~ referred t.o be not promptly and fully paid Without demand or notice, or (c) in the
~ event the stipulations, agreements, conditions and covenants of said note ana this
f mortgage are no t duly, pro~ptly and fuZl,y performed, then in either or any such ~
event, the said aggregate s~ mentioned in said note then remaining unpa.id, ~rith ~
interest accrued to that time, and all moneys secured hereby, shall become due and
paysble forth~tith, or thereafter, at the option oP said Mortgagee, as fully and
compl.ete],y as if all of the said swns of money ~ere origi.nally stipulated to be paid
on such day, anything in said note or in this mortgage to ~h~
contrary notFrithstanding;
; and thereupon or thereafter, at_the option oP said Mortgagee, ~+ithout notice or ~
demand, suit at laW or in equity, meRy be prosecuted as if a11 m~neys secured hereby
had matured prior to its institution.
7. The Mortgagee msy, at at~y time xhile a suit is pending to foreclose ~
or to reform this mortgage, or to enforce any claims arising hereunder, apply to ~
' the court having ~urisdiction thereof for the appointment of a receiver, and such ~
; court she.ll forthwith appoint a receiver of the premises and all oth~er property ~
~ covered hereby, including all and singular the income, profits, rents, issues a.nd
i SWD Form M-2906
~ (9-12-60) - -3 -
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` 2i3 PAGf ~704
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