HomeMy WebLinkAbout0005 Mortgagor or constructed, assembled or placed by Mortgagor on the
Premisea, and all conversions of the security constituted thereby,
immediately upor such acquiaition, release, conatruction, asaembling,
Placement or conversion, ae the case may be, and in each such case,
without any further mortgage, conveyance, assig~aent or other act by
Mortgagor, shall became sub~ect to the lien of this Mortgag,e as fully
and comple[ely, and with the same effect, as though now owned by
Mortgagor a~c?d apecifically described in the granting clause hereof,
but at any and all times Mortgagor will execute and deliver to
Mortgagee any and all such further assurancea, mortgages, convey-
ances or assignments thereof as Mortgagee may reasonably require for
the purpose of expresaly and specifically subjecting the same to the
lien of this Mortgage. ~
Section 1.0~. (a) Mortgagor will pay and discharge, at
least aixty (60) days before the same becane delinquent, all taxes
of every kind and nature (including real and personal property
taxes and income, franchise, ~ithholding, profits and gross receipts.
taxea), all general and apecial aasessments, levies, permits, inspec-
tion and license feea, all water and sewer rents and charges, and
a!1 other public charges whether of a like or different nature,
imposed upon or assesaed against it or the mortgaged prnperty or
any part thereof or upon the revenues, rents, issues, incane and
profits of the mortgaged property or arising in respect of the
occupancy, use or possesaion thereof. Mortgagor will, upon the
request of Mortgagee, deliver to Mortgagee receipts evidencing the
payment of ell such taxes, assessments, levies, fees, rents and
other public charges imposed upon or aesessed against it or the ~
mortgaged property or the revenues, rents, issues, in~cane cr pro-
fita thereof.
. Mortgagee may, at its option, to be exercised by thirty
(30) days' ~ritten notice to Mortgagor, require the deposit by
Mortgagor of snonthly installments in amounts sufficient to discharge
the obligations under this aubsection (a) when they became due. 1he
detexminstion of the amount of the installmenrs to be deposited with
Mortgagee, ao that the aggregate of such deposits ahall be sufficient
for this purpose, shall be made by Mortgagee in its aole discretion.
~ Such amounts shall be held by Mortgagee without interest and applied
; to the payment of the obligations in reapect to which such amounts
~ were deposited or, at the,option of Mortgagee, to the payment of said
t obligationa in such order or priority as Mortgagee sha11 determine,
! on or before the respective dates on ~hich the same or any of them
~ would becane 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 obligationa in full,
~ Mortgagor within ten (10) days after demand ahall deposit the amount
? of the deficiency ~,rith Mortgagee. Nothing herein conteined shall be
deemed to affect any right or remedy of Mortgagee under any provi-
~ --s-ions of thia Mortgage or of any statute or rule of law to pay any
~ such amount and to add ti~e amount so paid together with interest at
~ the legal rate to the indebtedness secured hereby.
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- WILLIAMS. SAIOMON, KANPJ~R 6 DAMIAN. ATTORNEYS AT ~AW, wPONT BUILDING, MIAMi, ~LORIDA
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