HomeMy WebLinkAbout1904 subject to the lien of this mortgage, and TOGETHER WITH all rents,
revenues, issues, proceeds and profits of the above described ~
property, and also all the estate, right, title, interest, property, ~
possession, claim and dem~nd whatsoever as well in law as in equity _ ~
of the said mortgagor of, in and to the same and every part thereof
unto the said mortgagee and its successors and assigns forever.
AND the mortgaqor does hereby covenant with the Association ~
that it is indefeasibly seized of said land in fee simple; that it has
full power and lawful right to convey said land in fee simple as ~
aforesaid; that it shall be lawful for the Association at all times
peaceably and quietly to enter upon, hold, occupy and enjoy said '
land; that said land is free from all encumbrances; that it will
make such furth~r assurances to perfect the fee simple title to said
land in the Association as may reasonably be required; and that it
does hereby fully warrant the title to said land and will defend
the same against the lawful cZaims of all persons whomsoever.
PROVIDED ALWAYS that if the mnrtgagor shall pay unto the
Association the principal indebtedness evidenced by that certain
promissory note of even date herewith, maturing eighteen months
after date, made by the mortgagor and payable to the Association
in the principal sum of $800,000, the interest in said note
stated being payable in monthly installments beginning September 20, •
1973, and shall perform, comply with and abide by each and every
the stipulations, agreements, conditions, and covenants of the
promissory note and this mortqage, then this mortgage and the
estate created hereby shall cease and be null and void.
AND the mortgagor does hereby covenant and agree:
1. To pay all and singular the principal and interest and
other sums of money payable by virtue of said promissory note and
this mortgage, or either,-on~Iie days-respective~y the same - -
severally become due.
2. To pay all and singular the taxes, assessments, levies,
liabilities, obligations and encumbrances of every nature on said
described property when due and payable according to Iaw, before they
become delinquent, and if the sa~n:e shall not be promptly paid, the
Association may at any time either before or after delinquency pay
the same without waiving or affecting the option to foreclose, or any
right hereunder, and every payment so made shall bear interest from
the date thereof at the rate of nine per cent (9$) per annum.
3. To keep the buildings and all equipment and personal
property now or he~eafter on said premises covered by this mortgage
insured in a sum eq_ual to at least the amount of the mortgage, or an
amount sufficient to comply with any co-insurance requirement cover-
ing the same under the laws of the State of Florida, covering loss
f ire
and storm~maki~the loss under said policies, each
and every, payable to
the Association, as its interes may appear,
and said insurance shall be in a good and responsible insurance
` company satisfactory to said Association, and written by a responsible '
local agent satisfactory to said Association; and the policy or €
policies shall bear a standard New York mortgage clause without con-
tribution, and shall be held_by the Association; and, in the event
any sum of money becomes payable under such policy or policies, the
Association shall have the option to receive and apply the same on
account of the indebtedness hereby secured, or to peru~it the mort-
gagor to receive and use it, or any part thereof, for other purposes,
without thereby waiving or impairing any equity, lien or right under
and by virtue of this mortgage; and the Association a?ay place and~
, pay for such insurance, or any part thereof, without waiving or ~
affecting its option to foreclose, or any right hereunder, and each ;
and every payment so made shall bear interest from the date thereof ~
at the rate of nine per cent (9$) per annum. f
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FEE. PARKER Q FEE. P. A. ?
. ATTORNEYS AT LAW '
POST QFFIGE 8~X 1000 A
FORT PIERCE. FLORIpA 33450 :~rn p~r_~t~ /_S
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