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Home My WebLink About2680 • ~ ~ f ' ~ PROVIDED AtWAYS~ snd eLae preseats are oa Wis expre~s conditioa. that if ehe said llorf~s~or or AL hein. le~a! repnKntati~sa or aai~na ahsii ~vep aad trnly ps7 nnto tbe 1[ortgagee. or ht~ le~al reprtaentst~~es, hdn snd assisar, the anmi of moaer bereia a,eoc~oncd~ snd tbe intenst thereoa as it ~ha1l become due. to~ether writh all coats. char~es sad tapeases. includiag abstnct tees aad a tes~onable attorner'~ fee ~rhich tbe Mort~ee map iacnr or be pnt to in ooUectin~ th~ saane by foreclosure. or otherwue, said indeetedness being geaetsUy dacribed u tollows: One promissory note of even date herewith, made by the Mortqagor payable to the Mortqaqee herein, in the principal sum of $280,000.00, together with interest at the rate of 9 per cent per annum, said principal and interest being payable as follows: $280,000.00 on the 27th day of January , 19 74 . In addition to the above pr n ipal payments, interest shall~e payable on the unpaid principal balance at the rate of 9 per cent per annum payable on the principal payment dates. ~ aF ms - oa~ctw~ aad aay and all other sums of moety whech may hereaftet be advanced to the Mortgagor. or which may now be owing d'uectly or indirectly by the Mortgagor to the Mortgagee, however evidenced, and all sums which may hereafter. while this mortgage remains nnsatisfied of record. becq~p~ o M ~Ig~-b y a; r, including any and all extensiona or renewais the~eof. up to the sum of. 1~w0 ~y~Vt'!lY ~n~~~~__ (f28~ ~ Q00. 00 . . Dotlars to be owing at aay one t~me. plus inttrest thercon, thtn this Mortgage Deed and the estate hereby created shall cease and shall be auU aad void. The Mortgagee is not obligated to make further advances to the Mortgagor hereunder~ but may do w at its option. The note or notes or other evidence of debt now held by the Mortgagee or to be hereafter executed by the Mortgagor to the Mortgagee. whether far future advances or otherwise~ shaU besr iaterest at the nte rr quired by she Mortg:gee unu! paid in fn1). The Iien of this mortgage shali not be te~minated or otherwise afiected dnring the period of ten (10) years from the date hereof br reason of repayment in full, one or more tiaues, of all indebtedneu then existing, unless this mortgage shaU be formaliy reteased or dischuged of record; if at any time duriag said ten (IO) yeu period there shall be no indebtedntss owiag by the Mortgagor to the )iortgagtt and there shall e:ist no obligation on the part of the Mortgagee to make any further advances to the Dio~tgagor, then the Mortgagee will. upon request ot the Dfortgagor. execute a fuU and complete satisfactan of this mortgage, AND the said Mortgagor, for himself and hia heirs. legal represcatativ~s or assigns. jointly and u~erally covenants and agrees to and rvith the Mortgagee, and his heirs. legal representatives o~ assigns, that at the time of the ensealing and delivety of theae presenta he is r?ep seized of said premiscs in fee simpte. aad has good right, fnfl powu sad lawfal antbot- itr to gnnt, bargai~ and aell t6e same ia manaer and form aforcaaid; that the same are free and clear of all liens aad en- cumbrances whatsoever and that he will forever protect and defead the aame against aU lawfnl claims, and that he hereby fnUy wucan4 the title to aaid premises and will defend t6e same against the lawtnl claims of all pasons whomsoever; that he will permit~ commit or suHer no wute, impairment or deterioration of said premiscs. and will keep the buildings and impravemente located theteon ia as good condition as Wty now ue, and in the eveat of damage to or destruction of any of uid bnildings, to repair, or replace the same forthwith aad immediately in as good coadition and of the same chuacter of construcdoa aa they now ue~ aad to keep all fruit ttees, citrus trees and shrubbery that ue naw or may hereafter be louted npon said premi'es. property and slcillfully pruned. fertilized, watered. spnyed, cultivated and protetttd, it being speci6cally stipnlated.,ind agreed that tht failure and neglect so to do wilt constitute waste; and will do or permit to be doae to said premises nottung that may in an~ way impair or weaken the securitr under this mortgage; that 6e will pay nnto the Mortgsget~ hia 6eirs, legal representatives or assigns the said promiuory note.......-..and the interest on the same as it or they shal! become due and payabtq put due inttrest to bear iaterest at the rate a? ten (10) per cent per annum froin ib dne date una! paid, together wit6 al! costs. chuges, absuact fees and txpenses, including attorae~'a feea~ which the i aaid 1[ortgagee, his heirs~ tegal represeatatives or assigns may be put to or incur in collectiag the same by foreciosare or otherwise; that the said Mortgagor wi11 ia due stason pay all ta~ces~ auessments and chuges which may be leried upoa the said propertp nnt~7 t6e indebtedness aforcsaid shall be paid, and that the said Mortgagor. or his heirs, legal rtpresen- ~ tadres or assigns. wil) promptly saqsfy~ par and dischuge any and aU mechanic's aad materiai-mea's liens. aad any and all ~ other liens and any and all judgments and decrees which may become lieas and chargea upon the premises above described, aad will keep all buildings that may at any time be on said p~emises during the continuance of said indebtedness. ia good ~ and 6rst-clu~ state of repair. and insured against loss by fire and such other hazards as shall be required by the Mort- ; gagee in snc~ eompany or companies as the Mortgagee, his heirs, legal representatives or assigns may approve, fot at~least fall insnrable ~alue. which policp or poliaes of insunnce are to be issued and maintained in the name of the owntr of the fee simple tide to aaid property, and shall contain or hare attached thereto as a put thereof a mortgagee clause satisiactory to uid Mortgagee, and providing for the paymeat of any loss payable uader aoy of said policies to and in favor of said Mort- ~ gagee, sncii poticr or policies to be he}d by said Mortgagee, his heiro, legal repreuntati~es or usigns, and in the event any snm of monep becomq payable under such poUc,~r or policies. the Mortgagee, hia heirs, legal reprexntatives or assigns, shall hare the option to receive and apply the same oa accouat of the indebtedness henby secured, or to use the same in repalr- iag or reptacing said premises to the condition thereof at the time of the t7CtCtitlOA of this mortgage. or to permit the a[ortgagor to receire aad nse said money or any put thereof tor other Durposes without thueby wtiving or impairing any equity~ lien or tight uader and by virtae of this mortgage. - ~ AND in case of the refusal or neglect of the aaid Mortgagor. his he"ua. legal representativa or assigas to thus repair ~ or replace aaid preraiaes. or to keep uid premises insured as aforesaid, or to pay taues. assessmenta or charges or to satisfy and dischuge the liens~ judgweats or decrees above mentioned, then said Mortgagee, his heirs. legal representativts or ° assigns may, at his option. make sueh repairs. procure such iasurance, or pay such ta~ces. usessmeats or ehargea or pay and ! ` dischuge such liens, judgments or decrees. and it shall not be obligatory for uid Mortgagee, his heirs~ legal representa- % ti~es~ or assigns to inquirt into the validity of tu usessments, tax deeds or special assessments or of aates under such ta~c or special assessment or to otherwise inquire into the vatidity of liens or mechanics or material-men, or into the necessity ~ % of snch repairs, in adrancing money in that behalf as above mentioned, but notbing herein tontained shalt be construed u ? requiring the said Mortgagce, his heirs. legal represe~tatives or assigns to adrance or e~cpend money for ta~cea or special ; sstessments or for other pucposes aforeuid. All moaey thua paid shall draw interest at the rate of ten (IO) per ctat per ~ annum, together with aU ressonable attorney's fees, cosu, eharge:. abstract fees and expenses for foreclosure or other pro- i 9~J0! ~1~ PAC~ ~0,~ : ~ : , - - - - , ~ ~ ~ ; ~ ~ ~ ~h~. _ . _ _ . . ~