HomeMy WebLinkAbout2003 TOCE7'tiER WITN all and ungular the tenements. hereditame~ts and appurtenances thercunto belonaing or in anywise
thereunto appe~tainina and the renta~ iuuet and proGn thereo(. a~d al~o ap the aWte, right, title. interat and all claim and ;
demand whatsoever, as wdl in law at in equity, of tAe said Mortgagor in and to the same~ induding but not limited to:
(a) Aq ~ents. pto(iq, rcvenua~ wyaltia~ ~ighu ~nd benefits derivtd fwm ) cmps grown on said security and pmduce
of the ~oi! otberwise (2) oil. gas or mineral leua of the ptemi~es or aoy put thereof, now existir?g or hereinattcr madc, a~d ~
(3) all other re~q, issua and 'profiq oi the premisss twm time to time accruing, whcther under leasa or tenancies now existing ~
o~ herea[te~ created; in each such case with the right in the 1liortgasee, but only at ia optio~, to receive and rereipt theretor ~
and to apply the same u it may elect to anr iadebtedne» securcd hercby, and the 1liortgagee, at its option, may dcmand, suc for
and rao~~er any :uch paymeots, r~serving to the Mortgagor. however. so long as said Mortgagor i: not in dcfault hereunder. the
right to recei~•e and rctain such re~ts, issua and pm~tt. ~
(b) All judgments, awud~ o( damaga and settlements hereafter made as a result ot or in tieu o( any taking of the
premises or any pa~t thereof under the powe~ of eminent domain, or for any damage (whether caused by tuch takeng or otherwise)
to the premises or the impro~•emcnts therew~ or any put thereof; such part of any such judgment, award or settlement, as the
Mortgagee may elect to be applied to the indebtedness hereby secured and the balance thereof, it any, to be reserved to the
party or psrties otherwise entitled thereto.
TO HAVE AND TO }IOLD the abwe granted and describcd premises to the said Mortgagce, its wccessors and assigt?s.
forn~er, and 'the said 1liortgagor does hercby tuUy warrant the title to said land, and wiq d~tend thc same against the l~w(ul - '
rlaims of ai! persons whomsoe~•e~; providcd always that ii I?lortgagor shall pay to Mortg~gee that ce~tai~ promissory note above
described and shall per[o~n all other covenants and conditions of said promissory note, and ot any renewal, extension or modi- ~
(ication thereof, and of this mortgage, then this mongage and the ~state hereby created shall cease and be null and ~~oid. {
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Mongagor further covenants and agrees with Mortgagee as [ollowi:
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1. To, pay all sums includinq interat secured het~by when due, as providcd for in said promissory note and any nnewal, ~
~xte~sion or modi(ication thereof and in this mortgage, all such sums to be payable in lawfu! money of the United States of
:lmerica at Mortgagee
s aloresaid principal ef~ce, or at such other place as Mortgagee may daignate in writing.
2. To pay vrhen due, and without requiring any notice from Mortgagee, all taxn, assessmcnts o( any type or naturc
~ and othcr char es Icvied or asussed a ainst the
3 g pren:ises hereby encumbered or any interat o( tilortgage thercin. To immediately
pay and discharge an~ claim, lien or encumbrance aqainst such premises which may be or become su}xrior to this mortgage and ~
to p~nnit no de(ault or e~elinquency on any other lien, ~ncumbrance or charge against such prrmises.
3. If requirecl by \tortga¢re, to also make monthly deposits with Mortgagee, in a non-interest bearing account, toQethi~r~
with and in additio~ to i~terest and principal, ot a sum equal to one-twelfth of the yearly taxes and assessments which may br
le~led against the premius, and (if so required) on~-twelfth of thc ~•early prcmiums for insurance thereon. The amount of such
taxes, assessme~ts and prcm~ums, when unknown, shall bc cstimatrcf by 1ltortgagee. Such deposits shall bc uscd by Mortgagee
to pay such ta~es, asseumrnts a~d premiums when due. Any insuf(iciency of such account to pay such charga wh~n due shall
be paid by Mortgagor to Aiortgaget on demand. If, by reason of any default by tiiortgagor under any provuion of this mort-
Qag~, I?tortga~ee d~clares all sums s~cured hereby to be due and payable, Mortqagee may then apply any funds in said account
against the entire indebt~clneu secured her~by, The enforceability ot the covtnants relating to taxes, auessments and insurance
prcmiums herein oth~rwise pro~~idtd shall not be affected except in so far as thosc o6ligations ha~~e been met by ~ompliance with
this paraqraph. !?fortca4ee may from time to timc ~t its option wai~•e, and a[t~r any such waiver reinstate, any or all provisions
h~rcof rcquiring surh deposits, by notice to rtortgagor in writing. ~Yhile any such waiver is in effect Mortgagor shall pay taxes,
assessm~nb and insurance premiums as herein dsewhere providecl_
4. To pay all taxcs, stamp tas or other charge which may {x asscsscd upon this mortgaqe, or said not~, or indebtedness
srcured hereby, without reqard to any law, F~deral or State, heretofore or hereafter enacted, imposing paymrnt of all or any
part th~reo! upon ~tortgagee. In event of rnactmrnt of any law imposing payment o( all or any portion of any such ta~ces upon
\iortgage~, or the rendering by any conrt of last resort of a decision that the undertaking by I?iortgagor, as herein pro~•idcci, to
pay such tax or taxes is legally inoperative, then, unleu Mortgagor neeerthdess pays iuch taxes, all sums herrby secured, without
any deduction, shall at the option of Mortgagee bernme immediately due ane! payable, notwithstanding anpthing contained herein i
or any law heretofore or hereafter enacted. ~ i
5. To 1~crp the premeses insured against loss or damage by fire, windstorm or extended coverage and such other hazards as
may be required by :1lortgagee, in (o~m and amounu satisfactory to, and in insurance companies approved by :1lortgagee, and with ~
acceptable mortQagee lou payable clauses attached. Such policies, together with such abstracts and other title evidence as may
be requirecl by :tfortgagee, shal! be deli~•ered to and held by Mortgagee withoat liability. Upon fomlosure oi this mortgage or
~ other acquisitioa of the pr~mis~s or any part thereof by Mortgagee, said policia, abstracts and title eandence shaU become the
absolute property of I?tortgagee_
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fi. To first obtain the written consent of 1liortqagee, such consent to bt granted or withhetd at the sole discretion of such
~toriqacee, bctore (a) removing or demolishing any buiWing now or hereatter erected on the premisa, (b) altering the anange-
ment, desi¢n or structural character thereof, (c) making any repairs which involve the removal of structural parts or the
Fxposnrr of th~ interior of such building to the elements, or (d) except for domatic purpoxs, cutting or removing or permitting
the cuttinq and r~mo~•al o( any trces or timber on the premisa.
7. To maintain premisa in good condition and repair, including but not limited to the making of such rcpain as Mortgag~e
; may lrom time to time determine to be n~ceuary for the preservation of the premisa and to not commit nor permit any waste thereo(.
8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the prcmises, and not
to suffer or permit any violation thereof.
9. If Mortgagor fails to pay any claim, lien or encumbrance which is superior to this mortgage, or, whrn due, any tax or
~ssecsment or insurance premium, or to keep tht premisa in repair, or shall commit or pertnit waste, or if there be commented
any action or proce~ding affecting the premises or the tide thereto, then Mortgagee, at its option, may pay said claim, lien, encum-
brance, tax, aueument or premium, wich right of subrogation thereund~r, may make such repain and take such steps as it deems
ad~•isable to pre~~ent or cure such waste, and may appear in any sueh action or proceeding and retain counsel ther~in, and take ~
such action therein as \tortgagce drrms advisable, and for any ot said purposa 1liortgagee may advance such sums of money, ~
including all cosu, fea and other items of expense as it deems necessary. Mortgagee shall be the sole judge o( the Iegality,
~•alidity and priority of any such daim, lien, mcumbrance, tax, assessment and prcmium, and of the amount necessary to be paid
in satisfaction thereo(. Mortqagee shall not be held accountable (or any delay in making any such paymrnt, which delay may
result in ~ny additiona) intrrat, cost, charges or expenu otherwise.
10. Mort¢a,qor will pay to :~longagee, immrdiately and without demand, ali sums o1 money advanccd by Atortqagec pursu-
ant to this mortga¢e, together with interest on each euch advancement at the rate of ten per cent. (107~ ) per annum, and all ~
such sums and inter~st th~reon shall be secured he~eby. .
1 i. All sams of money xcured hereby shall be payable without any relief whatever from any valuation or appraisement laws.
12. If def.?ult be made in payment of any instalment of principal or interest of said note or any part thereof when due, or
in payment, whcn due of any oth~r sum secured hereby, or in pedormance of any of Mortgaqor's obligations, covenants or
agrecmenEs hereunder, all of the indebtedness secured hereby shall become and be immediately due and payable at the option o(
Mortgagee, without notice or demand which are hereby eapreuly wai~td, in whieh event Mortgagee may avail itself of all rights ~
and remedia, at law or in equity, and ihis mortgage may be foreclosed with all righu and remedia af[orded by the laws of
Florida and !liortgagor shatl pay alt costs, charges and expenses thereof, including a reasonable attorney's fee.
EceK 2~~ PAG~ ~,Uw
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