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HomeMy WebLinkAbout1043 ~~~~ditional charge, penalty or expense arising out of or incurred as a result of .iray such contest; and provided, further, however, that if at any time payment ~Jf any obligation imposed upon the Mortgagor shall become necessary to prevent tt;~ delivery of a tax deed conveying the tiortgaged Property or any portion there- c~f because of non-payment, then the Mortgagor shall pay the same in sufficie~t time to prevent the delivery of such tax deed. 13. The 24ortgagor will pay, from time to time when the same shall become due, all claims and demands of inechanics, materialmen, laborers, and o~hers which, if unpaid, might result in, or permit the creation of, a lie~ on tt~e ~lortgaged Property, whether param~unt or subordinate to this Mortgage, or ~ any part thereof, or on the reve~ues, rents, issues, income and profits arising therefrom and in general will do or cause to be done everything necessary so that_ th~~ first lien of this Mortgage shall be fully preserved, at the cost of the _~iortgaqor, without expense to the Mortgagee. 14. The Mortgagor caill keep ade~uate records and books of account in accordance with generally accepted accounting principl~s and will permit the - ~•tortgagee, by its agents, accountants and attorneys, to visit and inspect the ~remises and examine its records and books of account and to discuss its affairs, rinances and accounts with the officers of the t4ortgagor, at such reasonable times as may be requested by the Mortgagee. 15. That the Mortgagor will keep ail real, mixed and personal property :~o~~ or hereafter encumbered by the lien of this Mortgage insured, as may be required from time to time by the Mortgagee, against loss by fire, windstoria ar.d other hazards, casualties and contingencies and war risks, if avai2abZe, irl~luding, during the course of any construction and/or development wark, build- ers' all-risk completed value, non-reporting form insurance, for such periods and for not less than their full insurable value or such amounts as may be required by the Mortgaqee'and to pay promptly when due all premiums for such insurance. The amounts of insurance required by the Mortgagee shall be the minimum amounts for which said insurance shall be written and it shall be in- c~smbent upon the Mortgaqor to maintain such additional insurance as may be necessary to meet and comply fully with all coinsurance requirements contained in said policies to the end that said Mort..~agor is not a co-insuror thereunder. Insurance shall be written by a company or companies approved by the Mortgagee and all policies and renewals thereof shall be held by the Mortgagee. All detailed designations by the Mortgagor which are accepted by the Mortgagee and ail aqreements bet~~een Mortgagor and Mortgagee relating to insurance, now existing or hereafter made, shall be in writing-and shall be a part of this Mortgage :~greement as fully as thouqh set forth verbatim herein and shall govern both parties hereto and their successors and assigns. No lien upon any of said pclicies of insurance or upon any refund or return premium which may be payable on the cancellation or termination thereof, shall be given to other than the '•tortgagee, except by proper endorsement affixed to such policy and approved by ~~tortqagee. Each po~icy of insurance shall have a clause satisfactory to ~ort- ;age making all loss or losses under such policy payable to the Mortgage as its interest may appear. In the event any sum or sums of money become payable there- under the Mortgagee shall have the option to receive and apply the same o~ account of the indebte~ness hereby secured, or to permit the Mortgagor to receive it and use it, or any part thereof, without thereby waiving or impairing any equity, lien or right under and by virtue of this Mortqage. In event of loss or physical damage to the Mortgaged Property the Mortgaqor shall give immediate notice thereof by mail to the Mortqagee and the Mortgagee may make proof of loss ~f the same is not mad.P promptly by the Mortgagor. In event of foreclosure of this Mortgage or other transfer of title to the ~ortgaged Property in extinguish- ment of the indebtedness secured hereby, all right, title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the pur- chaser or grantee. Mortgaqor shall currently deliver to Mortqagee notices of payment dates and proof of payment of premiums on all such insurance policies as well _ as such certificates and proof of insurance as Mortgagee shall reasonably request. Mortgaqee shall have the right to require Mortgagor to pay unto the '•l~rtgagee, on the first day of each and every month, amounts necessary to assure the payment of all insurance premiums required to be paid by t4ortgagor as afore- said. Such sums held by Mortgagee shall be non-interest bearing and shall be ~sed by Mortgagee to pay insurance premiwas as and when they become due. 16. No conveyance shaZl be made by the Mortga_q~r of the premises here- in described, or any nart thereof, without first obtain~ng the prior written c~nsent of the ~iortgagee, and the grantee named in such conveyance shall agree to assume the payment of the obligation evidenced by said ~,romissory note and ~ontained in this riortga~e in accordance with their respective terms. Any con- veyance contrary hereof shall be deemed null and void. The MortqaQOr agrees not to ~ermit the merger of the Mortgagor with _ 5 - 8~2i9 ~~lQ~ GREENE AMO IAVNE PA,ATTO~iNE~S AT LAW, 320 N E~6~" STQEET, M~AM~ fLOR10A 33132 ; ~c ' . . . , - . r. _ . . . . ~ ~ . .