HomeMy WebLinkAbout1622 nDnylDi:D ~~Ll,'AYS, and thesc presents are on this express condition, that if said
~1ort~a~ar sl~all wcll and truly pay said indebtedness unt~ the said Mortgagee,"and any
re~n~•~.~~11s or extensions thereof, and the interest thereon, together with all costs,
ci~ar~rs and rxpenses, incluaing a reasonable attorney's fee, which the said Mortgagee
may incur or be put to in collecting the same by foreclosure, or otherwise, and shall
p.~rforr.~ and comply with all other terms, conditions and covenants contained in said
promissor~ note and tliis mortgage, then these presents and the estate hereby granted ~
>hall c~ase, determine and be null and void.
And the said ~lortgagor hereby jointly and severally covenants and agrees to and
itli tti~~ said ~lortgagee as follows:
1. To pay all and singular the principal and interest and the various and sundry
s~s of money payable by v~;tue of said promissory note and this mortgage, each and
~~~cr~, promptly on the da}•s respe~tively thc same severally become due.
To pay all and singular the taxes, assessments, levies, liabilities, obliga-
tions and ~~ncumbrances of every nature and kind now on said described property, and/or
tliat h~rcafter may be i.mposed, suffered, placed, levied or assessed thereupon, and/or
tliat h~r~after mav be levied or assessed upon this mortgage and/or the indebtedness
s~~cured hcreby, each and every, on Che date same become due and/or payable, and in so
iar as any thereof is of record the same shall be promptly satisfied and discharged of
rccard and the original official doctnnent (such as, for instance, the tax receipt or
ttie satisfaction paper officially endorsed or certified) shall be placed in the hands
of said ?iortgagee ~.~ithin ten days next after payment.
3. To keep the buildings now or hereafter situate on said land and all personal
property used in the operation thereof continuously insured against loss by fire and
;uch otlier hazards as may from time ta time be requested by Mortgagee, in campanies
:~nd in <~unounts in each c rnnpany as may be approved by and acceptable to Mortgagee; and
~ill insurance policies shall contain the usual standard mortgagee clause making the loss
under said policies pa~*able, without contribution, to said Mortgagee as its interest
:-iay appear, and each and every such policy shall be promptly delivered to and held by
said ;tortgagee; and,.not less than ten (?0} days in advance of the expiration of each
policy, to deliver to said rlortgagee a renewal thereof, together with a receipt for the
premium of such renewal. :~ny insurance proceeds, or any part thereof, may be applied by
'•lortgagee, at its option, either to the indebtedness hereby secured or to the restora-
tion or repair of the property damaged.
4. To keep said land and the buildings and improvements now or hereafter situate
thereon in good order and repair, and to permit, commit or suffer no waste, impairment
or deterioration of said property or any part thereof.
~ S. To comply, as far as they affect the mortgaged property, with all statutes,
la~.~s, ordinances, decrees and orders of the linited States, the State of Florida and of
an} political subdivision thereof.
6. In case `lortgagor shall fail to promptly discharge any obligation or covenant
E as provided herein, the ~lortgagee shall have the option, but no obligation, to perform
on behalf of thc ~iortgagor any act to be performed by ~lortgagor in discharging such
i obligation or covenant, and any amount which riortgagee may expend in performing such
i act, or in connection therewith, with interest thereon at tt?e rnaximwn legal rate per-
k ;~issible per annum and together with a11 expenses, including reasonable attorney's
~ fees, incurred b}~ ~fortgagee shall be i~ediately payable by ~Sortgagor and shall be
, secured by this mortgage; and :~Iortgagee shall be subrogated to any rights, equities
~ and liens so discharged,
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~ 7. That if the principal or interest on the note herein described or any part of
~ the indebtedness secured by~this mortgage or interest thereon, be not paid when due, or
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if default be made in the full and prompt perforr.tance of any covenant ar agreetnent here-
in contained, or if any proceeding be instituted or abate any nuisance on the mortgaged
property, or if any proceeding be instituted which might result to the detriment of the
; use and enjoyment of the said property or upon the rendering by any court of last resort ,
' of a decision that an undertaking by the ;tortgagor as herein provided to pay any tax,
assessment, levy, liability, obligation or encumbrance is legally inoperative or cannot
be enforced, or in tiie event of the passage o£ any law changing in any ~ay or respect
the laws now in force for the taxation of mortgages or debts secured thereby for any
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~urpose, or the manner of collection of any such tax, so as ta affect this mortgage or
; the debt secured hereby; or if the ~lortgagor shall make an assignment for the benefit
y of creditors, or-if a receiver be appointed for the ~lortgagor or any part of the mort- ~
_ ~aged property, ar if ;iortgagor files a petition in bankruptc}•, or is adjudicated a
' bankrupt or files any petition or institutes any proceedings under the National Bank-
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~ ruptcy Act, then on the happening of any one or more of these events, this conveyance
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