HomeMy WebLinkAbout0241 FloridaYCorporation,was mortgagor and Wallace Merrick and Eveline Merrick,
his wife, as joint tenants with right of survivorship, as mortgagees).
8. That the ~iortgagor a~ill pa~• all taxes, asGcs~mer.ts, k~ater rates
and in default thereot, th` t!ortgagee ma~~ pay tl:e ~:ar~e.
9. That ii default Ue made in payment of taxcs, assessments,or
~ insurance premiums, and if the default continues for a period
of ten (10) days, the holder of this mortgage snall ha~~e tr.e
right to pay such defaulted taxes, assessments or insurance ~
premiums, and the amo~nts so paid crith interest thereor. at
the rate of Fifteen (15$) per cent per anr.um ma~• be adc3ed tc tre
indeLtedness secured hereby and shall be a lier. on saici
premises and be collected as a part of tiie ~.ndebtedness .
~ secured b}? this mortgage and in the erent o£ an~• such
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. payments of any of said defaulted iter.:s, this mortgage and j~
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ttie whole indebtedness secured therebtil siiall, ~~t tY.e option
of tr.e holder thereof, withnut notice ur cier.land, ~~rmec:iatel}~ .
become due and payable, although t:~e time limit For the payment
thereof may not have eapired and the sai~ Y:older shall have
the same rights and remeciies as such holder would hai~e if
Gefa~:lt were r.iade in the pa~•ments of the principal sum secured `
here~y, anything herein or in said note containe~ to the
contrary not~.~ithstanding.
j 10. T}:at the ~Io,~tgagor and any subsequent o~~:ner o~ the re~rtgaged
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~ premises hereb~~ agree upon demund to execute an es*_oppel ,
certificate in recordable torm indicating the princi~al ar.ci
interest due hereunder, and failure to exec~~te saicl estoppel
certificate agon cier~ar.d sh::ll constitute :a default or ti~is mortgage.
I1. In the et~ent of the sale, transfer or con~-erance a~ the enc:~r~hered
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property prior to satisfaction of t:~e tiote secured b~- tris nortc~age,
the entire unpaid balance tr~ereof, toaetrer ~oittl interest t'.;erecn,
shal~ beceme due and pa~-able at the option of t-l~e r~ortgagee ti•~i~~:cut
- :.etice.
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