HomeMy WebLinkAbout1099 (State of Florida documentary stamps in the amount recuired by ~aw_are affixed to
the original of the.foregoing note and canceled pursuant to lav.)
And shall duly, promptly and fl~lly perform, discharge, execute, effect,
complete and co~p~y Witb and abide by each and eveiy the stipulstions, agreements,
conditions and coveaauts of said promissory note and of ~his mortgage, then this
mortgage and the estate hereby created shall cease and be null and void. ~
And the Mortgagor covenants and agrees to and with the Mortgagee as follows:
l. fte ~rill pe4Y the principal and interest and the vari~us and sundry s~s
of mbney pc~yable by virtue of said promissory no~e and tris mortgage prompt~y on the
days the same become due and he Will promptly perf~~ and comply With each and every
other covenant and egreement im said promissory note and mortgage. '
2. He irill pay the taxes, assessments,.levies, liabilities, obligations-
a.nd incwnbrances of every nature and kind now on said described property, or that ~
hereafter may be imposed, suffered, placed, levied or assessed thereon, or that here-
after may be levied or assessed upon this mortgage or the indebtedness secured hereby,
when due and ~y~.ble according to laW, before they become delinquent, and before at~?. ;
interest attaches or any penalty is incurred; and in so far as any thereof is of ~
record the same shall be promptly satisfied a.nd discharged of record and tbe original
official document evidencing such satisfaction and discharge shall be placed in the
hands of said Mortgagee ~rithin ten days next after payrnent.
3. He ~till keep the improvements noW exist?r.~- or hereafter erected on
the mortgaged property insured ag~.inst loss by fi:e and other hazards,.casualties
and contingencies in such amounts and for such periods as riay be required by Mortgag~ee.
All insurance shall be carried in companies approved by Mort~3oee and the policies
and reneWals thereof shall be held by Mortgagee a.nd have attached thereto loss p~yable
clauses in favor of and in form scceptable to the Mortga~ee. In event of loss he i1i11
give i~ediate notice by mail to Mortgagee, and Mortgagee may make proof of loss if _
not made promptly by Mortga.gor, and each insurance coz~p~nv concerned is hereby authorized
and directed to make payment for such loss direc~ly },.o Mortgagee instead of to Mortgagor =
and Mortgagee ~ointly, and the insurance proceeds, or ar~,- part thereof,may be applied '
t~y Mortgagee at its option either to the reduction of the indebtedness hereby secured
or to the restoration or repair of the property da.r3a~;ed . In event of foreclosure of
~ this mortgage or other transfer of title to the mort~:aaed property in extinquist~ent
f of the indebtedness secured hereby, 81.1 right, title and interest of the Mortgagor
~ in and to aqy insurance policies then in force shaZl pass to the purchaser or gra.ntee.
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~ 4. He W-ill permit, coaanit, or suffer no ~s ~e, imtk~irment or deterioration T
~ of said property or any part thereof and will keep all buildings and i.mprovements
s noW or hereaf"ter on said property in good repair and will make any repairs xhich ~
F Mortgagee in his discretion sha.ll deem necessaYy for the proper preservation of said
a buildings and improvements. -
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~ 5. He iri11•pay all and singular the costs, char~es and expenses, including
= reasonable attorney's fees, cost of abstracts of title ~d title searches incurred
~ or paid at a~y time by the Mortgagee because of the failure on the part of the Mortgagor =
X promptly and flilly to perform the sgreem~ents and cove:.ants of said note and this
~ mortgage, and said costs, charges and expenses shall be iBmediately due and payable _
~ and ahall be secured by the lien oP this mortgage, and such expenditures shall drsW
~ interest at the rate of eight per cent~ per ann~.
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r 6. That (a) in the event of any breach of th~s m~rtgage or default on
the part oP the Mortgagor, or (b) in the event any of said s~s oY money herein -
referred to be not promptly and ftil.ly paid Without deman3 or notice, or (c) in the _
event the stipulations, agreements, conditions and covensnts of said note and this `
mortgage are no t du]y, promptly and fully performed, then in either or any such ~
~ event, the said aggregate swn mentioned in said note ~nen remaining unpaid, wi.th
- interest accrued to-that time, and all moneys secured hereby, shall ~ecome due and _
payable Yorth~tith, or thereaY'ter, at the option of said *~ortgagee, as fully aad '
completely as if all of the said swns of money Were original~.y stipulated to be paid ~
on such day, aaything in said note or in this mortg~.ge to the contrary not~rithstanding; ~
= and thereupon or thereafter, at the option of said 1•Sortgagee, ~.rithout notice or ~
demand, suit at lav or in equity, a~y be prosecuted as if ~11 moneys secured hereby
had matured prior to its institution. ~
~ 7. The Mortgagee ma,y, at ar~r time Whi2e a suit is pending to foreclose
`;g or to reform this mortgage, or to enforce sny claims a:ising hereunder, apply to
the court ha.ving 3urisdiction thereof for the agpointment of a receiver, and such
court shall forthwith appoint a receiver of the premises and all other property
covered hereby, including all and singul.ar the income, pro~'its, rents, issues and
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"F SWD Form M-2906
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