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HomeMy WebLinkAbout1627 PROVIDt:U r\Lt:~1'S, and these prrsents arc cn thi~ express condition, that if said ~tortgagor shall wcll aild truly pay said indebtedness unto the said Mortgagee, and any r~~n~~t,31s or extensiuns thereof, and the interest thereon, together with all costs, clilrges and elpenSes, including a reasonable attorney's fee, which the said Mortgagee mav incur or be put to in collecting the same by foreclosure, or otherwise, and shall p~•rfoi-m :ai1d comply witti all other terms, conditions and covenants contained in said promissor~~ note and this mortgagc, then these presents and the estate hereby granted ~hall ceasc, detennine and bc null and void. and thc said ~lortgagor liereby jointly and severally covenants and agrees to and ~:ith th~ said ~lortga~ee as follows: 1. To pay all and singular the principal and interest and the various and sundry 5tuss of monev payable b~~ virtuc of said promissory note and this mortgage, each and ~~~•er~•, promptl} on the da~s respectively the same severally become due. To pay.all and singular the taxes, assessments, levies, liabilities, obliga- tions atid enc~embrances oF every nature and L2*?d now on said described property, and/or tlzat h~~reafter may bc imposed, suffered, placed, levied or assessed thereupon, and/or that h~r~after may be levied or assessed upon this mortgage and/or the indebtedness ~~~cured hereby, each and every, on the date same become due and/or payable, and in so far as any thereuf is of record the same shall be promptly satis~ied and discharged of r~curd and the original official document (such as, for instance, the tax receipt or tli~ satisfaction paper officially endorsed or certified) shall be placed in the hands ~,f said ~[ortgagee c•:ithin ten days next after pay~nent. 3. To keep t}ie buildings now or hereafCer situatc on said land and all personal properry used in the operation thereof continuously insured against loss by fire and ~ticti other hazards as may from time to time be requested by ~lortgagee, in companies and in artounts in each company as may be approved by and acceptable to rtort~agee; and :;11 insurance policies shall contain the usual standard mortgagee cZause making the loss t~nder said policies payable, without contribution, to said rlortgagee as its interest :;a~ appear, and each and every such poZicy sha21 be proinptly delivered to and held by said ~tortgagee; and, not less than ten (10) days in advance of the expiration of each aolicv, to deliver to said ~tortgagee a renewal thereof, tog~ther with a receipt for the premiur.i of such renewal. :~ny insurance proceeds, or any part thereof, may 6e applied by '•'ortgagee, at its option, either to the indebtedness hereby secured or to the rest~ra- 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, conanit or suffer no waste, impairment or deterioration of said property or any part thereof, 5. To camply, as far as they affect the r.iortgaged groperty, with all statutes, la~,s, ordinances, decrees and orders of the United States, the State of Florida and of ;:n~• political subdivision thereof, 6. In case ~Iortgagor shall fail to promptly discharge any obl.igatfon or covenant i as provided herein, the :Iortgagee sha11 have the option, but no obligation, to perform on behalf of ttie ~iortgagor any act to be performed by ~Iortgagor in discharging such i obligation or covenant, and any amount which ~Iartgagee may expend in performing such f act, or in connection therewith, with interest thereon at the maximum lega2 rate per- ; :~issible per annum and together with all expenses, including reasonable attorney's ; `ees, incurred by ;tortgagee shall be immediately payable by ;fortgagor and shall be ~ ~ecured by this mortgage; and ^iortgagee shall be subrogated to any rights, equities ~ and liens so discharged. ' ~ ~ 7. That if the principal or interest on the note herein described or any part of ~ tiie indebtedness secured by this mortgage or interest thereon, be not paid when due, or if default be made in the full and pronipt performance of any covenant or agreement here- ! in contained, or if any proceeding be instituted or abate any nuisance on the mortgaged property, or if an} 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 thc ~Sortgagor as herein provided to pay any tax, . ' assessment, levy, liab~lity, obligation or encwnbrance is legally inoperative or cannot i be enforced, or in the event of the passage of any law changing in any way or respect ~ the laws nok in force for tiie taxation of mortgages or debts secured thereby for any 3 a purpose, or the• manner of collection of any sueh tax, so as to affect this mortgage or the debt secured hereby; or if the :~tortgagor shall make an assignment for the benefit _ of crediCors, or if a receiver be appointed for the :tortgagor or any part of the mort- ~ gaged property, or if :~Sortgagor files a petition in bankruptc5~, or is adjudicated a bankrupt or files any petition or institutes any proceedings under the i:ational Bank- f ruptcy ~1et, then on the happening of any one or more of these events, this conveyance '3 '3 3 J _ _ ~ ~ ~ ~ o R r~~~4 600K ~t • " ;