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Home My WebLink About2877 1 ' . ~ ' 'I~is moKgage is made, howrever, subjcct to the following covrnants, conditions and agreemrnts: FIRST; Tbat tl~e awdgagor hereby agrees and covenants to pay the interest and princi~at haeby seturcd pcanpUY whea due aad if default be made in any pact thereof, or in the payment of any other moraa'hereby secuctd. d?rn the same shiH. ~rithout demaad iE mottgagee shall elect. become due and payable at once and the moctgage may be foralosed ia the m~wna pcovidtd by law. SECOND: 'I7~at the.mortgagor- agrees to pay u.the same become due and payable all taxa, uxssments, and otha c6arges imposed by lay (~ncluding d~tch, canal, reservoir, or other water charges. taxes, or assessments) upon said prmuses or aay pact thaeof ~nc~uding the mortgagce's intecat thercin and upon this mortgage or the note oc i~debtednas _ sauced heteby, provtded that shoald the amounts paid for the mortgagee u~der this ~aragtaph !or such tax~s, assessn?e~ts and other charges together with the interest on the mdebtedness exceed the highat ~nterat ntepe rmitted by Izw on the indebtednas t}~en owing, mottgagor shall not be liabk to pay any of such excess over the highest lawful nte. In the event of the passage. aftec the date heceof, of any law by the State of Florida, deducting from the value of land for the purpc~se of tuation my lirn thereon or changing in any way the existing laws for the taxation of moctgages or debts sccured by moct- gage for state ot localpucpues, or the manner of the coliection of any such taxes, so u to affect this mortgage the holder of th;s modga~c and of tIx debt which it secures. sha11 have the right to g~ve six (6) months' writteR notice to the owner of szid land reqwnng thepavmrnt of the eatire indebtednas secured hercby, and it is hereby agreed that if s~ch notice be givrn the said indebtedness s6a11 bccome due, and collectible at the expiration of said six (6) months. 'I'I-IIRD; 'Ihat the moctgagor agrces to pay all othec debts that arc now or may become lirns u~on ot charges against said pcan~sa, and not to permit any lirn of any~ kind to accrue and remzin on said premises, or the improvements thereon, which mi~ht talce preccdence over the lien of this mortgage. 'Il~e mortgagor fucther agrees not to create any lirn on said premises Juaior htceto unless the person rntit(ed to the benefits thereof shall have agreed that the time for the payment of the indebtedness h~ceby secvrcd and the manner and amount of yment thereof a~d the brnefits of the secunty- afforded be extrnded heceby may~ without consent of wch pecson and without any ob igation to give notice of any kind thereto. . ree:tended, ucelerated. stupended and refunded on any terms whatsoe~•er w~thout in any manncr affecting the priority of the lirn heceb' ctated u st+curity for the payment of the indebtedness secured heceby or any obligation substduted therefoc or issued to nfund same. ~ FpURTH: 'll~at the mortgagor agrets to ktep said Fremises and improvements thereon in good rnndition and repair and not to commit or suffer wasic thereof; to operate all lands, whether ~mproved putura. orchards, gruing. timber, or crop lands, in a good and husbandmanlike manner ~n accordance with uce~ted principles of sound agricultural and forestcy ptachca; to take all ccasonable pcecautions to control wind and water eros~on: to fertiliu improved pastures, if anq, whcre naessary to maintain a good stand of dairable grasses; to protect orchards and timber, if any, by ~easonable precautions ~ against loss or dunage by 6re including the maintenance of appropriate fire breaks; and neither to remove nor permit the i removal of any timber, buitdings, oil, gu, minenl, stont, t«k, clay,- fertilizer, gravel or top soil without the pnor writtrn cocurnt of the moctgagee. 'I'he moctBsBK sha~~ have the right ta ~nspect the moctgaged property at such teasonable times and intervats u the modgagee may da~re, to determine thr mortgagoi s compliance with the covrnants contained in anq dause of this moctgage. FIFTH: 'il~at the moctgagor a~rees to procure, rru~ntain and deliver, premiums paid. to the modgagee policia of insuran~e agunst such hazards on the bu~ldings now or hereafter located on sa~d premises u the mortgagee may from time to time ceqwre, in such companies and in such amount and form and with such loss payable dauses u shall be satisfu- tory to the modgagee. 'ILe mort8a$ee ~s authoriud to usign and deliver said policies to my purchaser of this mortgaRe or to t!K purd~asec of uid premisa at any foralosure sale. In evrnt of loss the moctgagee is txprasly authoriud and em- powered to settle or compromise claims under said policies, and the proceeds from sa~d policies as well u any other policia pcocured by the modgagor shall bepa id to the mortgagee who at its solc discretion may apply same or any part chereof on aaount of the indebtednas secund hereb9 whether or not thrn due and payable, or may apply the same or any pad theccoE towards the alteration, raonstruction or repair of said buildings, either to the portion damaRed or any other portian thereof, or release same to the mortRagor. Such appl~cation or release shall not cure or waive any default or notice of default here- unda or invalidate any ad done pursuant to such notice. • SIXTH: ~I11at in the evrnt the moctgagar shall fail to proctire, pnaintain and deliver the insucance policia, premiums prepaid, or to paq, u the same become due and payable, any tax or assessment imposed by law upon said premises or any part thereof, oc the note, or indebtedness secured hereby, or to pay any lien, claim or rharqe against such~premises ~arhich might take pceccdence over the lirn of this mortgage or to comply wdh the provisions of paraqraph Fourth hereof, the moctgagee tnav, without notite or demand, insure any of the buildings and pay the cost of such insurance and pay any of ~ said taxa, assessinents, ~~ens, daims and chuges. or any part thereof, or redeem from the sale of said premises for any 3r; tua ot assasments (~rr~gularitia in the kvq or imposition of any tax or usessmcnt beinR expresslq waived), or redeem from the sale of said prem~ses rau~ting from the rnforcemcnt of anv such lirn. claim or charGe, or txpend such sums u truy be naessuv to corrcct the failure of the morcqagor to comply with the provisions of said paragcaph Fourth, and the mortgagor hereby agrea immediately to repap to the mort~a~ee, w~thout notice or demand, anv sums so ~aid with interest thereon at du same rate as speci6ed in the note secured herebp on the principal thereof after default and maturitv, and all sums paid bv the mortgagee w~th interest shall become a part of the indebtednas secured hereby, and in default of ~ immediate repaymrnt theceof by the mortgagoc the whole indebtedness secured hereby shati at the option of the modgagce ~ become due and payable forthw~th without not~ce. ~ SEVENTH: Thai in the event the moctgagor sells or conveys said premises, or any porcion thereof, or, if the ~ moctgagor is a cocporation, selts, trada or disposes of more than ................~fo of its corporate stock to pasons othtr than the present ow37 ~OOO~r00 ~a 9~~~fied directors prior to the time the indebtednas setured hereby shaU have been ' to;,,,,,.....: then, at the option of the moctgagee, the rntire said indebtednas shall baome due and payable. EIGHTH: That the mortgagor agrees to pay on demand all e~cpenses and attorneys' fees incurced by the modgagee b'? reasocz of litigation or legal proceedings in which the mortgagee is made a party to protect the lirn of this mortgage and all moneys so paid by the mortgagee, induding any eupense incurred in procunng or continuing abstracts of tide and titk policia and searching the raords for the purposcs of such litigation, shall bcar intaest at the same rate as spai6ed in the ~ ~ - ~2~5 ~~r~il : , t..w~ - - _ , ~ M<- ~ ~ ~ ' ~ ~ ~r " - e " a~ - ~ ~ : _ 3. _ r_ ~ _ ~