HomeMy WebLinkAbout0823 Mortgagor or constructed, assembled or placed by Mortgagor on the
Premisea, and all conversions of the security constituted thereby,
immediately upon such acquisition, release, construction, assembling,
placement or conversion~ as the case may be, and in each such case,
without any further mortgage, conveyence, assigranent or other act by
Mortgagor, shall beca~me sub~ect to the lien of this Mortgage as fully
and completely, and with the smne eff~ct, as though nvw owned by
Mortgagor and specifically described in the granting clause hereof,
but et any and all times Irbrtgagor will execute and deliver to
Mortgagee any and all such further assurances, mortgages, convey-
ancee or assigtm4ents thereof as Mortgagee may reasonably require for
the purpose of expressly and specifically subjecting the same to the
lien of this Mortgage.
Section 1.07. (a) Mortgagor will pay and discharge, at
least aiaty (64) days before the same become delinquent, all taxes
of every kind end nature (including real and peraonal property
taxes and income, franchise, withholding, profits and gross receipts
taxea), all general and special assessments, levies, peraaits, inspec- ~
tion and license fees, all water and sewer rents and charges, and
•11 other public chsrges whether of a like or different nature, `
imposed upon or asseased against it or the mortgaged property or
any part thereof or upon the revenues, rents, issues, income and
profita of the mortgaged property or arising in respect of the
occupancy, use or possession thereof. Mortgagor will, upon the
request of Mortgagee, deliver to Mortgagee receipts evidencing the
payment of all such taxes, assessments, levies, fees, rents and
other public charges imposed upon or aesessed against it or the
mortgaged propertq or the revenues, rents, issues, income or pro-
fita thereof.
Mortgagee miy, at ita option, to be exercised by thirty
(30) days' written notice to Mortgagor, require the depoait by
Mortgagor of monthly installments in emounts sufficient to discharge
the obligationa under this subsection (a) when they became due. 1he
dete~ination of the amovnt of the installments to be deposited with
Mortgagee, eo that the aggregate of such deposits shall be sufficient
for this purpoae, ehall be made by Mortgagee in its sole discretion.
Such amounts ahall be held by Mortgagee ~ithout interest and applied
to the payment of the obligations in respect to which such amounts
were depo8ited or, at the option of Mortgagee, to the payment of said
obligationa in auch order or priority as Mortgagee shall dete~nine,
on or before the respective dates on which the same or any of them
would become delinquent. If one month prior to the sixty (60) days
hereinabove referred to the amounts then on deposit with Mortgagee
are insufficient for the payment of such obligations in full,
Mortga~or within ten (10) days after demand ehall deposit the aonount
of the deficiency with Mortgagee. Nothing herein contained shall be
deemed to affect any right or remedy of Mortgagee under any provi-
sions of thia Mortgage or of any statute or rule of law to pay any
such amount and to add the amount so paid together with interest at
the legal rate to the indebtednees secured hereby.
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WILLIAMS, fAIOMON, KANNtR 6 OAMIAN. ATTORN[YS AT LNW, OuPONT BUiLOiN(i, MIAM1, FLORIDA
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