HomeMy WebLinkAbout2958 MORTGAGE DEED - Page Three t
insured aqainst loss by fire and such other hazards as shall be re-
quired by the Mortqaqee in such company or companies as the Mortqaqee,
its successors and assigns may approve, for at least full insurable
value, which policy or policies of insurance are to be issued
and ntaintained in the name of the awner of the fee simple title -
to said property, and shall contain or have attached thereto as
a part thereof a mortgagee clause satisfactory to said•Mortgagee,
and providing for the payment of any loss payable under any of
said policies to and in favor of said Mortgagee, such policy or.
policies to be held by said Mortgagee, its successors or assiqns,
and in the event any sum of money becomes payable under such policy
or policies, the Mortqagee, its successors and assigns, shall have
the option to receive and apply the same on account of the indeb-
tedness hereby secured, or to use the sarae in repairing or re-
placing said premises to the condition thereof at the time of the
execution of this mortgage, or to permit the Mortgagor to receive
and use the said money or any part thereof for other purposes with-
out thereby waiving or impairinq any equity, lien or right under
and by virtue of this mortqage.
AND in case of the refusal or neglect of the said Mortgagor,
her heirs, legal representatives or assigns to thus repair or re-
place said premises, or to keep said premises insured as aforesaid,
or to pay taxes, assessments, or charqes or to satisfy and discharge
the liens, judgments or decrees-above mentioned, then sai.d Mortqagee,
its successors and assigns may, at its option, make sucti repairs,
procure such insurance, or pay such taxes, assessments, or charges
or pay and discharqe such liens, judgments or decrees, and it
shall not be obligatory for said Mortgagee, its successors or assigns,
to inquire into the validity of ta~c assessments, tax deeds or special
assessments or of sales under such tax or special assessment or
to otherwise inquire into the validity of liens or mechanics or
materialmen, or into the necessity of such repairs, in advancing
money in that behalf as above-mentioned, but nothing herein contained
shall be construed as requirinq the said Mortgagee, its successors
or assigns to advance or expend money for taxes or special assessments
or for other purposes aforesaid. All money thus paid shall draw
interest at the rate of eight (8) per cent per annum, together with
all reasonable attorney's fees, costs, charges, abstract fees and ex-
penses for foreclosure or other proceedings, and shall be repaid to
the Mortgagee, or its successors or assigns, on demand; and shall be-
come so much additional indebtedness secured by this mortgage, to be
paid out of the proceeds of the sale of the mortgaged premises afore-
' said, if this mortgage should be foreclosed, and if not otherwise
{ paid by the said Mortgagor, or her heirs, legal representatives or
~ assigns .
~ AND the said Mortgagor, for herself and her heirs, legal re-
~ presentatives and assigns, severally and jointly, further covenants
~ and agrees to pay all taxes, assessments and charges that may be
~ assessed upon said premises as described above, or upon this mortgage
:or the indebtedness secured hereof, without regard to any law hereto-
€ fore enacted, or hereafter to be enacted, imposing payment of the'
~ whole or any part thereof upon the Mortqagee, its successors or as-
~ signs. Upon vioZation of this understanding or upon the enactment
~ by the State of Florida of any law imposing payment of the whole or
~ any portion of any of the taxes, assessments or charges aforesaid
~ upon the Mortgagee, its successors or assigns, or upon the rendition
~ by any Court of competent ~urisdiction of a decision to the effect
~ that the undertaking by the said Mortgagor, as herein provided, to
~ pay all taxes, assessments or charges is legally inoperative or can-
not be enforced, then and in either of such events the indebtedness
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