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HomeMy WebLinkAbout1449 i TOGETHER WITH all a~d lingular the tenements, hereditamenta and appurtenances theceunto bebagin~ ot in anywise thereunto appertaining and the ~ents, iuua and pm(its thenot, and also all the atate, right. titk, intuat and all elaim and demand whatsoeve~, a~ weU in law u in equiq, of the wid Mortgago? in and to the tame. including but not limited to: (a) AU ~ents, protita. reveoua. mpaltia. riahb and benefits de~ived trom (1) crops ~own on ~aid security and produce o( ths ~oil othuwise (2) oil. gas or mineral leua of the.premi~es or any put thereot, now existing or hereinafter made, and (S) all other renta, iuues and 'pro[ita o( the premi~et froro time to tirae accnuna, whether under leasa or tenancia now e~cisting or hereatter created; in euh such case with the right in the jliwtaagee. but only at ib option, to receive and ~eceipt there(or and to apply the same u it may elcct to sny indebtedness secured he~eby, aad the Mortgagee, at iu option, may dema~d, sue (or and recorer any such payments, raenring to the Mortgagor, however, so long as said Mortgaqor is aot in default hercunder, the right to receive and retain such rents. issua and protits. (b) All judgments, awuds o[ damaga and xttlements herea(ter made as a ~esult o( or in lieu o( any taking of the premises or any part thereo[ under the power of eminent domain, or for aoy damage (whether caused by such taking or otherwise) to thc prcmises or the impmvements thereon or any put thereof; :uch part ot any such judgment, award or settlement, as thc Mortgagee may elect to be applied to the indebtedness hereby secured and the balance the~eot, if any, to be rexrved to the party or partia otherwise entitled thereto. TO HAVE AND TO HOLD the above granted and described premises to the said :lfortgagee, iu succason and assiqns, [orever, and the said 1liortgagor does hereby fully warrant the title to said land, and will defend the same against the lawful claims ot all persona whomsoeve~; provided always that i[ Mortgagor shall pay to I~iortgagee that certain promissory note above described and shaU perfo~n all other covenants a~d conditions of said promissory not~, and of any renewal, extension or modi- -(ication shereof, and ot this mortgage, then this mortgage and the atate hereby created shall cease and be aull and ~roid. Mortgagor further covenants and agrecs with 1liortgagee as toliows: 1. To pay all sums including interest secured hereb~ when due, as provided for in said pmmissory note and any renewal, • extension or modification thereo[ and in thu mortgage, al) soch sums to be payable in lawful money o( the United States of America at biortgagee s atoresaid principa! ofCce, or at such other place as Mortgagee may designate in writing. ~ 2. To pay when due, and without requiring any notice (rom Mortgagee, all taxes, au~ssments o[ any type or nawrc and other chargn 1e~7~d o~ auessed against the premises. hereby encumbered or any interest of Liortgage thercip. To immcdiately pay• and diuharqe any claim, lien or encumbrance aQainst such premises which may be or become superior to this mortgage and to permit no default ror d~linquency on any other licn, encumbra~ce or charge against such premises. " 3. I[ required by !liortqagce, to also make monthly d~posits with Mortgagee, in a non-interest bearing accodnt, toqether with and in ~ addition to interest and principal, of a sum equal to one-twelfth o( the yearly taxes and assessments which may be le~tied_,against the prcmises, and (if so required) one-twelfth of the yearly prcmiums tor insurance thereon. The amount of such taxa, assessmrnts and premiums, when unknown, shall be estima?cel by 1ltortgag~e. Such deposits shalt be used by Mortgagee to pay auch taxa, asscuments and premiurtu when due. Any insufficiency ot such account to pa~ such charges wh~n due shall be paid by 1liortgaqor to liortgagee on demand. If, by reason of any cle(ault by 11~ortgagor under any pro~•ision of this mort- gage, biortgag~e derlares all sums securcd hereby to be due and payable, Mortgagee may then apply any funds in said account against the rntire indebtedness secured hereby. 7'he rntorceability of the covenants relating to taxes, assessments and imarance premiums herein otherwise pro~•ided shal! not be affected except in so far as those obli,qations have been met by ~ompliance with this paragraph. ~fortcagre may from time to time at its option waivc, a~d after any such waiver rcinstate, any or all provisions • hereof requiring such deposits, by notice to I?tortgagor in writing. ~Yhile any such wai~~er is in effect Mortgagor shall pay taxes. assessments and insurance prcmiunu as herein elsewhere pro~•ided. 4. To pay all tazes, stamp wx or other charge which n~ay be asxssrd upon this mortgag~, or said note, or ind~btedness secured hereby, without regard to any law, Frderal or State, heretofore or hereafter enacted, imposing payment o[ all or any part thereof upon :~lortqagee. In rvent of enactment of any law imposing payment of all or any portion o( any such taxes upon Mortgagee, or the rendering by any court of last raort of a decision that the undenaking by biortgagor, as hercin pro~ided, to pay such tu or taxes is legally inoperative, then, unleu Mortgagor neverthelas pays such ta~ces, all sums hercby secured, without any deduction, shall at the option of Mortgagee become immediately due and payable, notwithstanding anything containecl hercin or any law hereto(ore on c~rcatter ~nacted. ` ~ 5. To keep the premises insured against loss or damage by fire, windstorm or extended coverage and such other hazards as , ! ma • be r uired b'11ort, a, ~e, in form and amounts satisfacto to, and in insurance com ni~s a roved I?tort a ee, and with , ) e9 r• 4 S rr Pa PP br 8 s ` I arceptable mortqaq~e loss payable clauses attached. Such policia, together with such abstracts and other tide n~denre as may , # ~ be required by Mortgageq shall be deli«red to and held by Mortgagee without liability. Upon foreclosure of this mortgage or other acqwsition o[ the premises or any part thereo! by Mortgagee, said policies, abstracts and title evidence shall become the ~ absolute property o( biortgaqee. • s ~ G. To first obtain the written cons~nt of Mortqagee, such consent to be gra~ted or withheld at the sole discretion o[ such :ltortqa~ce, bcfore (a) removing or demolishing any building now or hereafter erected on the prcmisa, (b) altering the arrange- ment, desiqn or structural character thereof, (t) making any repairs which in~rolve the removal of structural parts or the eaposure of the interior of such building to the elements, or (d) except for domatic purpoxs, cutting or removing or permitting the cutting and remo~•al of any trees or timber on the premises. 7. To maintain premises in good condition and repair, including but not limited to the making of such rrpain as Mortgagee may from timr to time det~rmine to be necessary for the praervation of the premises and to not commit nor permit any waste thereof. 8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the premises, and not ~ to suffer or p~rmit any violation thertof. ~ 9. If Mortgagor fails to pay any claim, lien or encumbrance which is superior to this mortgage, or, when due, any tax or ~ aucssment or insurance premium, or to keep the premises i~ repair, or sha11 commit or permit waste, or if thert be commenced any action or proceeding affating the premixs or the title thereto, then Mortgagee, at its option, may pay said daim, lien, encum- ~ brance, tax, assessment or premium, with right o[ subrogation thercunder, may make such repain and take such steps as it deems = ad~~isable to prevent or cure such waste, and may appear in any such action or proceeding and retain counse! therein, and take ~q such artion therein as Mortgagee deems advisable, and for any o( said purpous Mortgagee may advance such sums of money, ~ including all costs, fees and other items of expenK a~ it deems necessary. Mortgagee shall be the sole judge of the legality, ~ ~•alidity and priority of any such claim, lirn, encumbrance, tau, assessmrnt and premium, and of the amount necessary to be paid ~ in satisfaction thereo(. Mortgagee shaU not be held accountable for any delay in making any such payment, which delay may ' result in any additional interest, cost, chargp or expense otherwix. ~ 10. Mortsagor wil! pay to 1liortgagee, immediatdy and without demand, all sums of money advanced by 111ortgag~e pursu- ant to this mortgaee, together with interest on each such advancement at the rate of ten per cent. (10~,''r ) per annum, and alI fi such sums and intcrest thereon shall be secured hereby. n 11. All sums of money secured hereby shall be payable without any relief whatever from any valuation or appratsement laws. 12. If de(ault be made in payment of any instalment o( principal or interest of said note or anq part thereof whrn due, or ' in payment, when due of any other sum secured hereby, or in pedormance o( any of Mortgagor's obligations, covenanb or ~ agreements hereunder, all of the indebtednas secured hereby shall become and be immediately due and payable at the option of Mortgagee, without notice or demand which are he~eby e:pressly waived, in which event Mongagee may avail itself o( all righb ' and remedies, at law or in equity, and this mortgaqe may be foreclosed with aU rights and remedia alforded by the lav+n of ~ Florida and Mortgagor shal) pay all costs, charges and expenses thereo(, including a reasonable attorne~s fee. V ~CE~I~ U R s~ 4 ~ b00K ~?1~ PACf ~ ~ ~ ~ . - - ~ x . _ _.r__~~~