HomeMy WebLinkAbout2849 PROVIDED ALWAYS, A~:d these presenta are upon these express conditious, tha#, if tl~e
said nwrtgagor , shatl pay the said mortgayce three certain pro»iissor~ note s, of even
dete hereurith, signed by mortgagor
and made pa~abie to the order of the mortgageesYic as follows: (a) Note in the amount
of Sixty-Two Thousand One Hundred Twenty-five and No/100 ($62,125.00) Dollars
to THE FIRST NATIONAL BANK OF TAMPA, c/o Trust Department, Tampa, Florida,
payable in eight (8) equal annual installments commencing May 1, 1975, with
interest from date on the sums remaining from time to time unpaid at the
rate of Eiqht per cent (88) per annum; (b) Note in the amount of Thirty-one
Thousand Sixty-Two and 50/100 ($31,062.50) Dollars to H, GORDON FREEMAN, 551
Fifth Avenue, New York, New York 10017, payable in eight (8) equal annual
installments commencing May 1, 1975, with interest from date on the sums re-
maining from time to time unpaid at the rate of Eight per cent (8$) per annum; `
(c) Note in the amount of Thirty-one Thousand Sixty-two and 50/100 ($31,062.50=
Dollars to JACK A. GREENBERG, 551 Fifth Avenue, New York, New York 10017, pay-~:
able in eight (8) equal annual installments commencing May 1, 1975, with
interest from date on the sums remaining from time to time unpaid~at the rate
of Eight percent (8$) per annum.
Option is granted to the Mortgagor to pay all or any portion of said notes
at any time after January l, 1975, with interest to the date of payment only.
Each of said notes shall have equal priority. :
And until the pa~ment of said note s, and each of them, or any extens~ions or rene~tca~s tliereof
in whoie or in part, and any other indebtedness secured hereby, and the performance of all cove-
nants and agreements herein, shaii promptly pay aR taxes and assessments of every kind ievied
or assessed on the said praperty (also upan this mortga~re and the morieys secured hereb~ to the
extent hereinafter set forth), and shaA not perrr.3t or suf
fer said praperty, or any part thereof,
to be sotd for non-~ayment of taxes or assessments, or the said taxes or assessments to become _
delinqn~ent; a»d shail keep the buildings and other im~rovements +ohich are reow or may here- -
after be erected on the premtses i~sured aqainst ail risk by fire in a sum not Iess than
full insurable value ~~~5, ~in a good and responsible insurance company,
for the benefits of the mortgagee , said insurance com~any to be a~rproved by and the policies
or any renewais thereof to be deposited with the said martgagees ; and in the event of Zoss or
damage to the buikiings or improvements an said ~remises, the proceeds of such insurance shali
; De a~piied in reduction of the debt, or in restoring the ~remises or grraperty, as the mortgage~
E ahall elect; and sha1l not commit, permit, or seiffe'r any strip or waste of sa~id premises or prop-
; e~ty, and shaii pay aR the maneys and perfrn'm aR acts and carry out ali promises and agreE-
~ me»t,s tltat are secured hereby, at the time and in the manner herein sPecified, then these pres- ;
~ ents shaA be void. j
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$ And the said mortgagor do es hereby pro»sise, covenant and agree to ~ay to the said
~ mortgagee S, the said sums of money ar~d interests as mentsoned in and re~resented by said
~~omissoTy note s, and each of them, or any extertsions or renewals thereof, an~ secured to be
k paid a.s a~oresaid, and also to carry out and perform each and ever+~ other covenant and agree-
? ment he~ein set forth, and do eS promise, covenant and agree to ~e;r/ aTl taxes and arssessments
~ of every kind and characcter levied or assessed oM said ~roperty, and every part thereof, before
~ the same become delinquent (and also upon this mortgage and the moneys secured hereb~ to the ex-
; tent hereina/ter set forth), an~t not to permit the sa~id prroperty or anJ, part thereof, to be sold on
~ aeeount of non-pa~rnent ~of taxes or assessments of any ~,-ind; a~ed to promptiy pat/ aIi insurance
~ ~r~miums that may beco»~,e due upon insurance ~olicees issued u~on buiIdings or other imprmse-
~ ments on said ~remises during the continuance hereof; and to Pay ail costs, charges and ex-
~ pe»ses in coliecting the mone~s H.ereby secured or ;n enforcing or Protecting the riqhts and intcr-
n= ests of the said mortgagee s kerein, or secured hereby, ~ncluding reasonable attor~iey's f
ees and
{ co~rsmission.s, whether coiZected by foreclosure or otherlcise. :
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~i And tl~e mor~gagor , covenant s and agree s fo pay all taxes that may be Ievied or ~
- o~ssased on thi.s mortgage and the moneys secured hereby, PROVIDED that in no event sha11 ~
tha amau»t paid on aecount of such taxes, together with the interest ~aid on the indebtedness `
~ steused by this mortgage, eacceed the maximum interest rate altowed by law. '
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J~ It is further covenanted and aqreed thut, i f defaic~t sha~i be made in the Pay»:ent of said
sums of money, or any ~art thereof, as specified in or represented b~ said not~ , or either of
them, or any extension or reneioals thereof, or if the interest that may become due thereon, or
any part thereof, shall be behind and unpaid for the space of 30 days, or if default
= shaA be ~nade in the ~ayment of taxes or assessments of any kind or character, as hereinabove
~ set forth, znsurance ~remiums, or a~:~~ su~?is of money as pravided herein, or if there shaA be a
- breach or violution of, or default in, an~~ of the covenants or agreemenfs herein contained on the
; part of the mortgagor , then it shall be o~tional with the mortgagee s to consider al1 un~aid
note s, or the pr~ncipal sum hereby secured and remaining ic~:paid, and accrued interest thereon,
as immediately due and pa;yable, and said nzortgagee s shall have the right to ~nstitute 1rro- ,
ceedings to enforce the collection of all sums due hereunder, or to foreclose the lien of thi.s mort- -
ts=
gage by reason of such breach or violation hereof, or default herein by the mortgagor ?
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