HomeMy WebLinkAbout0139 (~tate of Florida documentaiy strw~,s in the amount required by laW are affixed to
tr.e uriginal of the f~regoing note und canceled pursuant to la~•)
And shall du~}r, promptly und f~ily perform, dischar~e, execute, effect,
complete and comply with and abide-by each and every the stipulations, agreements,
conditions and covenants of said promissory note and of this aartgage, then this
mortgage and the estate hereby created shall cease and be null and void.
And the Mortgagor covena.nts and agrees to and ~rith the Mortgagee as follo~?s:
l. He vill pay the principal and interest a.nd the various and scul~ry swms
of money payeble by virtue of said promissory note and this martgaqe promptly on the
days the same become d~ae and 'ne wi12 prompt~y perform and comply With each and every
o±her covenant and Rgreement fn safd promissory note a~nd m~rtgage.
2. He Will pay the taxes, assessments, levies, liabilities, obligations
and incwnbrances of every natwre and kind nor+ on said described property, or that
~:ereafter may be imposed, suffered, placed, levied or assessed thereon, or that here-
after m~y be levied or assessed upon this mortgage or the indebtedness securec3 hereby,
when due and payable according to l.aw, before they become delinquent, and before any
interest attaches or any penalty is incurred; and in so far as any thereof is of
record the same shall be promptly satisfied and discharged of record and the original
official document evideacin~ such satisfaction and discharge shall be placed in the
~ands of said Mortgagee within ten days next after payment.
3. He will keep the improveu,ents noW existing or hereafter erected on
L'ne mortgaged propert;;; insu~ed a5~inst loss by fire and other hazards, casuslties ~
and contingencies in such amounts and for such periods as may be required by Mortgagee. :
=~11 insura.nce shall be ca_rried in compa.nies spprove@ by Mortgagee and the policies
and reneWals thereof srall be held by Mortgagee a.nd have attacY~ed thereto loss payable
clauses in favor of and in form acceptable to the Mortgagee. In event of loss he Will
~~ve iIIaaediate natice by mail to Mortgagee, and Mort~agee may make proof of loss if
not made promptly by Mortgagor, and each insurance concpar~y concerned is hereby authorized
~nd directed to make paym~ent for such loss directly to Mortgagee instead of to Mortgagnr
~r.d Mort~agee 3o~n~ly, and the ins•.irance proceeds, or a~y part thereof,may be applied
N:ortgagee at its option eitner to the reduction of the indebtedness hereby secured
or t,o the restoration or repair of ~ne property 8t~maged. In event of foreclosure of -
~his mortga~e or other transfer of tit2e to the mortgaged property in extin~;uishment
of tne indebtedness secured ~ereby, a?1 right, title and interest of the Mortgagor
in and to ar~y insurance policies tnen in force snall pass to the purchaser or grantee.
4. He will pe~t, coz~it, or suffer no Waste, impairment or deterioration
said proper~y or any pa.rt t^e?'eOr and will keep all buildings and iuiprovements
now or hereafter on said progerty ~n good repair and ~rill make sny repa.irs xhich
".ortgagee in his discretion shall ~een necessa:-y for the proper preserva~ion oi said
^uildings and improvements.
5. Ae wil_'~ay all and sin~u?ar the costs, char~es and expenses, including
reason~ble attorney's _`•'ees, casv o° abstrac±s of title and title searches incurred
~r paid at any time by the Mortgagee because of the failure on the part of the Mortgagor
p„omptly and flill,y to perfc7m the agreements ana covenants of said note and this
~rtgage, and said costs, charges and expenses sha.ll be ium~ediately c3ue and payable
and shall be secured by the lien of this mortgage, and such expenditures shall draW
interest at the rate of ei~ht per centcffi per ann~.
6. That in the event of a.r~y breach of this mortgage or default on
` ~he part of the Mortgagor, or (b} in the event any of said swns of money herein
~ referred to be not promptly and fully paid Without demand or notice, or (c) in the
~vent the stipulat±ons, a~reements, conditions and covenants of said note and this
r.~rtgage are not duly, promptly a.nd fully perform~ed, then in either or any such
event, the said aggregate s~un mentioned in safd note then remaining unpaid, ~ith
:nterest accrued to that time, and aIl moneys secured hereby, shall ~ecome due and
~ayable Porthwith, or thereafter, at the option of said Mertgagee, as fully and
completely as if all of the said s:,m~s of money were originally stipulated to be paid
on such day, anything in said note or in this mprtgage to the contrary not~rithstanding;
~.nd thereupon or thereafter, at the option of said Mortgagee, ~rithout notice or
demand, suit at laW or in equity, m~y be prosecuted as if all moneys secured hereby
aad matured prior to its institu~ion. ~
~ 7. The Mortgagee may, at any time While a suit is pending to foreclose
or to reform this mortgage, or to enforce any claims arising hereunder, apply to
the court havin~ ~urisdiction thereof for the appointment of a receiver, and such
court shall forthWith appoint a receiver of the premises and all other property
covered hereby, incZuding all and singvlar the income, profits, rents, issues and
t
SWD Form M-2906
(9-12-60) - 3 -
• BODK PA~F ~~~7
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