HomeMy WebLinkAbout1958 PROVIDkD ALWAYS, and these presents are on this express condition, that if said
~tortgagor shall well and truly pay said indebtedness unto thc said Mortgagee, and any :
renewals or extensions thereof, and the interest thereon, together with all costs, ~
charges and expenses, including 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 `
perform and comply with all ather terms, conditions and covenants contbined in said
promissory note and this mortgage, then these presents and the estate hereby granted
shall cease, detern~ine and be null and void.
And the said Mortgagor hereby jaintly and severally covenants and agrees to and
~aith th~~ said rtortgagee as follows:
1. To pay all and singular the principal and interest and the various and sundry
siuns of money payable by virtue_ of said promissory note and this mortgage, each and
every, promptly on the days respectively the same severally become due.
To pay all and singular the taxes, assessments, levies, liabilities, obliga-
tions and encumbrances oY every nature and kind now on said described property, and/or
that hereafter may be imposed, suffered, placed, levied or assessed thereupon, and/or
that hereafter may be levied or assessed upon this mortgage and/or the indebtedness
s~~cured hereby, each and every, on the date same become due arid/or payable, and in so
far as any thereof is of record the same shall be promptly satisfied and discharged of -
record and the original official docwaent (such as, for instance, the tax receipt or ,
the sa"tisfaction paper officially endorsed or certified) shall be placed in the hands
of said :lortgagee within 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
such other hazards as may from time to time be requested by Mortgagee, in campanies
and in a.mounts in each campany as may be approved by and acceptable to Mortgagee; and
all insurance policies shall contain.the usual standard mortgagee clause making the loss
under said policies payable, without contribution, to said riortgagee~as its interest
may appear, and each and every such policy shall be promptly delivered to and held by
said ,tortgagee; and, not less than ten (10) days in advance of the expiratiot~ of each
policy, to deliver to said rlortgagee a renewal thereof, together with a receipt for the
premiwn of such renewal. Any insurance proceeds, or any part thereof, may be applied by
~tortgagee, 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, co~nit or suffer no waste, impairment
or deterioration of said property or any part thereof.
; S. To camply, as far as they affect the mortgaged property, with all statutes,
~ laws, ordinances, decrees and orders of the United States, the State of Florida and of
~ any political subdivision thereof.
~ 6. In case Mortgagor shall fail to promptly discharge any obligation or covenant
as provided herein, the Mortgagee shall have the option, but no obligation, to perform
on behalf of the Mortgagor any act to be performed by Mortgagor in discharging such
obligation or covenant, and any amount which Mortgagee may expend in performing such
act, or in connection therewith, with interest thereon at the maxim~un legal rate_per-
missible per annum and tagether with all expenses, including reasonable attorney's -
fees, incurred by Mortgagee shall be immediately payable by Mortgagor and shall be
secured by this mortgage; and Mortgagee 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
the indebtedness secured by this mortgage or interest thereon, be not paid when due, or
if default be made in the full and prompt perfonnance of any covenant or~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 Mortgagor as herein provided to pay any tax,
assessment, levy, liability, obligation or encumbrance is legally inoperative or cannot
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~ be enforced, or in the event of the passage of any law changing in any way or respect
~ the laws now in force for the taxation of mortgages or debts secured thereby for any
~ purpose, or the manner of collection of any such tax, so as to affect this mortgage or
the debt secured hereby; or if the ;iortgagor shall make an assigrnnent for the benefit
4 of creditors, or if a receiver be appointed for the ,iortgagor or any part of the mort- ;
gaged property, or if ;iortgagor files a petition in bankruptcy, or is adjudicated a ?
bankrupt or files any petition or institutes any proceedings under the National Bank-
ruptcy Act, then on the happening of any one or more of these events, this conveyance
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