HomeMy WebLinkAbout0521 Upon the mortgagor giving notice to the mortgagee of its desire to have a
release executed and delivered as provided above, accompanied by fees
required as consideration for said release, including description of the
property to be released, together with survey of such acre, such release
shall be prepared and delivered within ten (10) days from the date of said
request, accompanied with the documents and fees required.
Anything hereinbefore set forth to the contrary notwithstanding, the
t.2 it .a i •re ~v~as yel paCOQ 4l~'17 ~P ~'fle m~rtQaQQr
mortgac~or sna~i n~L ~a t3ill.li.lC~.a s~~~~.. .~..j ,~~.,_a«
is in default with respect to any of the terms, covenants and conditions
of the mortgage. _
The mortgagor shall not make any application for a change in zoninq without
the prior written consent or waiver of consent of the mortgagee, which
consent or waiver of consent shall not be unreasonably withheld. In the
event the mortgage is reduced to the extent of ~525,000, said consent or
waiver of consent need not be obtained. The mortgagor shall give the
mortgagee ten (10) days notice of said application and unless the mortgagee
raises objection within twenty (20) days thereafter, such failure to respond
shall constitute a waiver of right to object.
PROVIDED ALWAYS, that if said mortgagor shall pay unto said
mortgagee the certain promissory note hereinafter substantially copied
or identified, to-wit:
SEE SCHEDULE "A" ANNEXED HERETO AND MADE A PART HEREOF ;
and shall perform, comply with and abide by each and every the agreements,
stipulations, conditions and covenants thereof, and of this mortgage, then
this mortgage and the estate hereby created, shall cease, determine and be
null and void.
" AND the mortgagor hereby further covenants and agrees to pay
promptly when due the principal and interest and other sums of money pro-
vided for in said note and this mortgage, or either; to pay all and singula r ~
the taxes, assessments, levies, liabilities, obligations and encumbrances of
every nature on said property; to permit, co~arnit or suffer no waste, impair-
' ment or deterioration of said land or the improvements thereon at any time; ~
to keep the bu~ldin ~ ~~iereafter on said land f~slly insured in a sum
of not less tha~i , in a company or companies acceptable to the
mortgagee, the policy or policies to be held by, and payable to, said
i mortgagee, and in the event any sum of money becornes payable by virtue of
such insurance, the mortgagee shall have the right to receive and apply the
; same to the indebtedness hereby secured, accouting to the mortgagor for any
surplus; to pay all costs, charges, and expenses, includ ing lawyer's fees
; and title searches, reasonably incurred or paid by the mortgagee because
t of the failure of the mortgagor to promptly and fully comply with the agree-
~ ments, stipulations, conditions and covenants of said note and this mortgage,
or either; to perform, comply with and abide by each and every the agreements
stipulations, conditions and covenants set forth in said note and this
mortgage or either. In the event the mortgagor fails to pay when due any
tax, assessment, insurance premium or other sum of money payable by virtue
of said note and this mortgage, or either, the.mortgagee snay pay the same,
without waiving or affecting the option to foreclose or any other right
hereunder, and all such payments shall bear interest from date thereof at
° the highest lawful rate then allawed by the laws of the State of Florida.
If any sum of money herein referred to be not promptly paid
within thirty (30) days next after the same become due, or if each and every
4 '
' -3- _ .
~
~
~ 8aax 22~ 521
. . . . . - . . - . . . _ 3 _