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Home My WebLink About0663 TO HAVE AND TO HOLD the above described property unto the Mort~agee forever. The Mortgagor he~eby covenants with the ?~tortgagee that the \lortga~or is indefeasibly seizc~ with the absolute and fee simple title to said prope?ty, and has fuU power and lawful authority to sell, convr>•, transfcr and morl};a};e the same; that it shall bc lawful at any time hereaker peaceably~ and yuietly to ent~~r u~x~n, ha~•e, hold, and enjoy said pru- perty, and every part thereof; that said property is free and dischargecl from all lirns, encumbranc~~s, and claims of any ktnd, including taxes and assessments except as herein noted, and that the ~fortgagor h~~reby fully warcants unto the Mortgagee the title to said property and will defend the same against the la~vful claims and cl~~rnands of all persons whomscever. PAOVIDED ALWAYS, and these presents aze on these ezpress conditions, that whereas the Mortgagor is indebted ~ _Ll_ to the Mottgagee by virtue of a certain promissory Note. of even clate Rerewun, maue i~y u~e iY;~~~~ag~. a•+:: Y~~»~:~ to the order of the ~lortgagee in the principal sum of One Million, Five Hundred Nine Thousand, Nine Hundred Ei~hty-four and 00/100 ($1, 509, 984 00) Dollars, with interest thereon, ali payable as provided in said Note, in lawful money of the United States-of America. NOW, THEREF'ORE, iF the Alortgagor shall fully pay said Note, or any exiensions or renewals thereof and shall fully pay all other indebteciness or liability that may become due and owing hereuncler and securecl hereby, and shall faith- fully and promptly comply with and perform each and every other covenant and pmvision herein on the part of the Mortgagor to be compliecl with and performed, then these prese~nts shall t~ ~•oiet .u~d mleasc~cl at the expense of the ~tort- gagor, otherwise to remain in full farce and effect. AND the Nortgagor does hereby expressly covenant and agree: 1. To pay the \ote hereinbefore reEerred to, according to the teaw thereof, aad the intezest thereon promptly as the same shell become due. 2 Topa y all t~es, assessments and public chuges already levied or assessed or that may hereaher be levied or assessea upo'n o~ against said land and premises or againtE any peisanai praperiy nercin c~c~-~. s~hca ~e:e aixl papabk am~rding tn ~.~w, F~fore the~• be- come dclic?quent, and before any interest or penalty shall attach; to deliver to the ~lortgagee, on or before \larch Ist oE each year, tau ~p~s ~~~5 ~ PaY~M ~-all-sueh lates Ior-ihe-precedin{{-cakodac_;ear,.and-to-deli~e~tn~_1lortgaKae-recefptt.evidencin8. payment of all liens for public impro~rmcnts ~vithin ninMy (90) days after the same shall become due and payabl~ and to pay and dis- chuge within ninety (90) days after due date any and all go~•emmenta) levies that ma}• be made on the mortgaged propc~ty. 3. To permit, commit, or suffer no waste> impairment or deterioration oE said property or any pa~t thereaf, and upon the failure of the I?tort~ gagor to keep the buiWings on said propertp in good condition of re~pair, the titortgaRee may demand the immediate repair of said buildings, or an inerease in the amouot oE socuriq•, or the immediate payment of the debt hereby secured, and the Failure of the 11ort- gagor to comply with said demancl of the \tortgagee, fcx a period of thirty (30) day~s, shall constitute a breach oE this mortgage, and at the optioA of the \tortgagee, immediately mature the entire amount of principal and interest hcreby securcd, and the ~lortgagee immedi- ately and without notice may institute proceedings to foreclose this mortgage and apply for the appoinhnent of a Rereiver, ac hereinaher Provided• 4. To ketp the buiWings and all eq~ipment and penonal properiy now or hereaker on said premises covered b~ this mortgage in- - sured agaiast bss by Eire and windstorm or other casualty in a sum or sums sufficient to Ri~•e full pmtection to the \tort~agee, but in no event in a sum leu t6an the unpaid principal secured by this mort~age. Pro~~ded, ho~+•e~•er, that such insu~ance be in amounts sufficient to camply with an} co-insurancr req~irements co~•ering same under the laws of the State of Florida, and pro~~ded further that the policy or policies shall be written in a comFxtny or companies and throuRh an agency satisfacton~ to thc \icxtQaKee, and that said policy or policies sha1) be held by the \tortgagee and shall bear a standard \ew York \iortgagee CL1usc withad rnntribntion making the loss under said polieies payable to the \tartgagee ac hic interest may appear. It is agreed that in case ihe buildings on wid real estate a~e deslro>•rd or damaReci h>• fire, windstorm. or b}- any other casualty against whieh i~uuranee shall ha~•e been rc~uired by the ~lcxtgagee, then, the ~icxt~aRer shall ha~•e thF ri~ht to apply the ina?rance proceeds in pay~nent of the debt secured hereby, either in vvhole or in past, and ~?hcther thi~n dui• nr nut, or to r~~~uiri~ thc im~tro~•c~ncnts to bc repaired or laced, either partly or entireh~, by the use of said procecds_ the unpaid {x?rtion of the laln to remain in form. Any such procee.ds held~y the I?tortgagee for repairs or replacements shall be so held veithout pa~~nent or allov~•a~ce nf interect. 5. In the event the lien of this mortgage is accepted as a sercmdary cx inferi~r lien, sulx~rdinate and suhject to any prior mortgage ~ lien or other encumbrance, the \tortRagor ccn•enantc and aqrees to keep aU of cuch prior mortc:tc~ lienc and othFr encumbrances in ¢ood € standing and to perform, comply W ith arxi abide by each and ever>• the stipulati~nc, agrecm~ntc. c~mditionc and co~•enants rnntained in ; the agreements e~~dencinR such prior liens and will not permit xuch Frior lienc or mort~aces tn hecom~ in dcfanlt and K•ill promptly pay i any indebtedness secured by such prior liens and mortga~+es beforc d~c samc FxY•nm~ d~~linr~ni•nt. :ind in th~ ~~•~•nt th~• ~/~~rt~::?}*.ore shall fail ~ so to do, then such failure shall constitute a default in this mortqagc in th~ ~.vn~ ~n:~nn~~r :~nd t~~ tl~~ c:+uti~~ c~ti•nt if thcre ~+~crr a dcfault ~ in the temts and conditions of this mortgage, or the note cect~red hereby ~ 8. Should the ~tortgaqor fail to make payment of any t:ucs, assetcments or puhlic char¢ec }~c~fore the~• }~ecome delinquent, or beEore any interest or penalty shall attach, or of any insurance premiums or other char~es payable b~• thc \t~rt~a~or. ~r chould the ~lortgaGor fail ~ to make payment of any principal or interest secured by an~• mort~aAc or lien prior to thc licn of thic m~,rtea~e hefore the same 1?ecome delinquent, then the ~lortgaqee ma~• make pa«nents of the same, and alco ma~• recleem saicl pr~micec (r~nn tar sal~ ~~ithout am• nbliRaticx? to inquire into the validity of such taces. azsessments and tax sales (t}?e remipts of d~e pr~e~r officcr~ Ix~in¢ rnnclusi~•e e~ic~ence of the ~ validity and amount thereof). in case of such pa>Tnentc by the ~tortgagee, the ~tortgagor aem.~ to rt-imburce th~• ~tort~aA~~• on demand, and the amounts so paid, with interest thereon at the rate o1 ten per cent per annum chall F~e~ adcied to and i~ecrnne p:ui o~ ii~r ~~ebt se- cured by these presents witho~t Wai~•er of any right arisinR from breach of any of thF rnvFnantc, and fw such px~~n~nts, w-ith interest ac aforesaid, the premises hereinbefare described, as well as the \tortgagor, shall be ba~nd to the came Pxtent that th~• arP }x?nnd For the pay- ment oE the note herein described. ~ 7. That any sums which shall not be paid when due, whether principal, interest, or mcmey en~in~ fcx advancements by ihe holder pursuant to the terms of this ?1lortgage, shall bear interest at the rate of ten per cent pc~r ann~~m. ~ 8. That in the event that said \Tde is placed in the hands of a~ attorne~• fcx collection. or in case the 11rxt¢a¢FP shall }xccxne a ~ party either as plaintiff or as defendant in any suit or lega) proceedinA in rclation to the propcrty describecl or th~ lien crrated herein, or for the reco~ery or protection of said indebtedness, the 1tortRaqor wtill repa}~ on demand all co~ta and e~nences aricin~ d~erefrom, in- cluding reasonable attorney's fee, with interest thereon at the rate of ten per cent per annum until paid, all of ~s~hich snms, if unpaid. shall be added to and bccome a part of the debt sectued by th~e presentc. ~ 9. 'fhat the Mortgagee, witha~t notiee, may agree with any parh oblieated cxi said indebtedness, cx ha~inq an interPCt in the se•curit~• described herein, to renew or utend the time for payment of any part or all of the indebtcdness SfCt1iC(~ I1MCf1}'. N'1l}lOllt in am• ~ca~• aF- fecting either the lien hereof or the tiability of any other party_ 10. That if defanh be made in the payment of any installment of said \ote. vvhether of principa) or intent, or in the perfc~pancP f-, of any of the cmenants contained in this ~fortgage, and any one or more of such default: shall ha~•e rnntinued for a pcricx~ of 1~7 ae~ days or more, or upon the happeninq of any other e~~ent which accordin~ M the terms of this ~icxtQa~e or said \de shall ~ntide th~ holder to aceelerate the due date of said ~ote, then the whole unpaid principal sum in caid \ote agreed to he paid, ~•ith intere~t accrunl there- on, shall at any time after the ecpiration of such period. or at anv time after the happenin~ ~f such erent referred to. at the option of thc holder of said 1ote, become due and payable without notice or demand, am~thing hercin or in said \ote to the rnntran• not~ti•ithstandin~. and no omission on the part of the holder to exercise such option when entiNed so to do shall he rnnctn~ed as a w•ai~•er of such right_ ~ 11. As additional and rnllateral securih• for the pay~nent of said \ote, the ~iortea¢or a~siqnx to the ~fortea¢ee all th~ rents, ic~aec. profits, and income oF the real ectate and personal property abo~•e described hom the date of this inttn~ment unti) the debt hereby cccured k~; shali be paid in full, w•ith the right to recei~•e the same and apply them to said \ote or other indebtedness oH-ing on acrnunt thcreof after default in the rnnditions thereof. 12_ That the ~fortAagor N'II~ ~V all ta.~es, before the same become delirtquent, Khich may bc levied or assessed under any law of -=s~`-`' the State of Florida, or any Federal Law, u~n the ~fortgaAee's interest in said real cstate and impro~•ements, and w~hich may }x~ le~icd ~ upon this ~tatgage or the debt secured hereh~• or the holder thereof ( bnt only to the e~tent that such is not prohibited by law and only ~ to the e~tent that such will not make this loan usurious), but e~cluding any income tac, State or Federal, imposed on the \1ortQaAcr, and wil! file the official receipt ~how~ng such pa~Tnent wtith the ltortRagee. If, at any time, am• law or c~x~rt derrce prohibits the pa>~nent b~• ~ the AtoRgagor of any tax, other than incane tax, lc~ied upon the ~lortgagee's interest in the mortgaged real estate and imprm•ements, or ~2 ~ t~ R 2~~ SOOK `AGE sU,2 . . ~ ~ ~ F__ _ _ , ~ ~ e_~