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HomeMy WebLinkAbout2881 '1l~is aaodgage is made, how+evec. wbject to the follo~ving covrnants. conditions and agreements: FIRST: 'I7ut the aattgagot hereb' agrees and covenants to pay the interest and princi~al heceby sccured pranpdY ~rbw due and if default be made ia aay put thereof, or in the payment of any othec mon~es heceby sccured? then the sune shad, ~ritlaut de~nand if mortgagce shall elect, become due and payable at once and the moctgage may be forcclosed ia the aoaaner pcovided b~r law. SECOND: ~t the moctgagor agrees to Qay u th~ same become due and payable all taxa, asxssments, and othec clurges imposed by h~r (including ditch, canal, resecvoir. or other water charges, taxes. or assessmrnts) upon said pcaan~ses oc an~ part thtteof uxluding the mortgagce's interest therein and upon this mortgage or the note or indebtrdnas secured hereby, pmvided that s~eaild the unouats pa~d for the moctgagee ander this Qaragraph for such taxa, assesuncnts and otha chuga together with the interest on the indebtedness exceed the highest i~terat ratepe cmitted by law o~ the indebtedness ihen owmg, mo~tgagor shall not be liable to pay any of such rxcess over the highest lawful nte. In the evrnt of the po.suge, after the date heccof, of any law by the State of Florida, dcducting from the value of land for the purpose of taxaboa any lun thereon oc chang~~ng in any w~y the existing laas for the taxation of mortgaga or debts secuced by mort- gage for shte or localpucposes, or the aunner of the collection of any such taxes. so u to a(fect this mortgage, the holder of this moctgage and of tFie debt which it securcs, shalt have the right to give six (6) months' writtrn notice to the owner of said land rtqwrmg thepa vment of the rntire indebtedness xcured hcreby. and it is hereby agreed that if such notice b~ given the said indebtednas shall 6ecowe due, and mliectible at the rxpiration of said six (6) months. THIRD: ?hat the mortgagor agcees to pay all ahcr debts that ue now or may baome liens u~on or charges against uid pcemises, and aot to permit any 1'ien of any~ kind to ucrue and remain on said premises, or the ~mprovements thereon, which mi~ht take precedence over the lirn of this mortgage. The mortgagor furiher agrecs not to create any lirn on uid pcanisa ~un~ot hereto unless the person rntitled to the brnefits thereof shall have agreed that the time for the payment of tht indebttdness hereby secnred and the tn~nner and amount ofpa yment thereof and the bene6ts of the secunty afforded hereby may, without consa~t of such person and without any obligation to give notice of any kind thereto, be extrnded, reextrnded, aackcatcd, susprnded and refunded on any terms whatsoever without in any manner af[ecting the priority of the lirn hereby created u sccvrity for the payment of the indebtedneu secured hereby or any obligation subshtated therefor oc issued to refnnd sune. - FOURTH: That the mortgagor agrees to keep said premises and improvements thereon in good mndition and repair and not to c~unit or suffer wute thereof; to operate all lands, whether improved pastures, orchuds. gnzing, timber. or aop lands, in a good and hnsbandmanlike manner ~n ucordance with acceQted principles of sound agricultunl and focatcy prutices; to take all reasonable precautions to contro) wind and water erosion: to fect~lize improved pastures, if any, whtre ~ naasary to aoaintain a good stand of dairable grasses; to protect orchards and timber, if any, by rcasonable praautions ~ against loss oc damage by 6re inclnding the maintrnance of appropriatc 6re breaks; and neither to remove nor permit the f removal of any timber, buildings, oil, gu, mineral, stone, rock, clay, fertilizer, gravel or top soil without tho prior writtrn r mnsrnt of tht mortgagee. '11~e moctgagee slu~1 have the right to inspect the mortgaged propett~ at such reasonable times ~ and intetvals u t5e moctgagee auy daire, to determine ihe mortgagor's compliance with the covenants contained in anq dause of this mortgage. FIFTH: Ttut the mortgagor aRrees to procure, maintain and delieer, premiums paid, to the modgagee policies of insuran~e agaiatt such hazards on the buildings now or hereafter located on said premises u the mortgagce may from time to tia~e tequ~re, in such comp~nia and in such amount and form and with such loss payabk dauses u shall be satisfac- tory to the mortgagee. The mortgagee is authoriud to usign and deliver said policies to anq purchaser of this modgage or to the~n~uer of said ptanisa at any forccbsure sale. In evrnt of bss the mottgagee is r~cpressly authoriud and em- pow to settte or mmpcomise claims under said policies, and the proceeds from said policia u wel) u any othec policies pcotured by the uwctgagor shall bepa id to the mortgagee who at its sole dixretion may apply same or any pad thacof on ucoant of the indebtednas secvred herebv whether or not then due and payable, or may aPply the same or any patt thereof towards the alteradon, teconstructioci or repair of said bui[dings, either M the portion damaRed or any other podion thereof, or relrase same to Zhe mort~Cagor. Sach application or release shall not cure or waive any default or notia of default here- ander or inval}dite any act done pursuant to such notice. SIX'TH: That in the evrnt the mortgagor shall fail to procurc, mai~tain and deliver the insnrance policia, premiums prepaid, or to paq, as the same become due and payable, any tax or assessment imposed by law npon said premises or any put thercof, or the note, or indebtedness sec~ted t~ereby; or to pa~ any lien, claim or char~e against such premises which might take precedence over the lirn of this mortgage or to complq with the provisions of paraRraph Fourth hereof, the mocigagee tnav, ~vithout notice or demand, insure any of the buildings and pay the cost of such insurance and paq any of said ta~cts~ assessments, lirns, claims and charga, or any part thereof, or redeem from the sale of said premises for any taza or as.xssmrnts (~rregularitia in the levy or imposition of any tax or usessment being expressly waived), ot redeem ~ froan the sale of said premises resulting from the mfoaement of ano such lien. claim or charge, or expend such sums u tnay be ntcessatp to comct the failure of the mortqagor to comply with the provisions of said pangraph Fourth, and the mortgagor hercby agrees immed'eately to repay to the mortga~ee, w~tlwut notice or demand. anv sums so ~id witl~ interest ~ thereon at the same rate as speci6ed in the note sscvred hereby on the principa) thereof after default and mahuitv, and all sams paid bv the mortgagee with interest shall become a part of the indebtedness secvred herebq, and in default of immediate repavmrnt thercof bq the mortgagor the whole indebtedness secured hereby shall at the option of the mortgagee become due and payable forthw~th without notice. _ SEVF.N1'N: That in the event the mortgagor sells or conveys said premises, or any portion thereof, or, if the , . , mortgagor is a totporation, sells, trada or disposes of more than of its corporate stock to persons other d~an the present ownets, their heirs and qualified dirators prior to the time the indebtedness secured heceby shall have been ~ ro;. 39,000.,00~ at the option of the mortgagee, the rntire said indebtednas shaU baome due and payable. EIGHTH: T1ut the mortgagor agrees to pay on dem~?nd al! rxpenses and attomrys' fees incvrred by the moctgagee by ceason of litigation or legal proceedinRs in which the mortgagee is made a party to protcct the lirn of this modgage and a11 maneys so paid by the mortgagee, mcluding any exprnse ~ncurred in procunng or continuing abstracts of titk and titk policia and sarching the raords for the purposes of such litigation, shill btar intecest at the same cate u speci6ed in the . ~ _ ~ ~ - ~ ; f ~ . ~ ~ ~e . W " _ , p.S .r..~. .i._~ .r~.Y~°`~^~~~.': ,:S ~i~^h-~:'