HomeMy WebLinkAbout2209 (St.ate of Florida documentary staiaps in the amount required by law ere affixed to
the original~of the foregoing note and canceled pursuant to lav.),
And shall duly, promptly and fl~lly perform, discharge, execute, efYect,
complete and coa~ply vith and abide by each and every the stipulations, agreements,
conditions and covenants of said promissory note and of this mortgage, ttien this
mortgage and the es~ate hereby created shall cease and be null and void. ~
And the Mortgagor covenants and agrees to and vi.th the Mortgagee as follovs:
l. He ~rill pay the principal and interest and the various aad sumdry s~mss
of money payable by virtue of said promissory note and this mortgage prompt~y on the
days the same become due and he xill promptly ~erform and comply vitt~ each and every
other covenant and agreement in said pmmissory note and mortgage. ~
2. He ~rill p~y the taxes, assessments, levies, liabilities, obligations
and incuanbrances of every nature and kind aaW on said described property, or that
hereafter may be imposed, suffered, placed, levied or assessed thereon, or that here-
after may be levied or assessed upon this mortgage or the indebtedness secured hereby,
when due and payable accordi.ng to law, before they become delinquent, and before a~ `
interest attaches or any penalty is incurred; and in so f~r as any thereof is of
record the same shall be promptly satisfied and discharged of record and the original
official document evidencing such satisfaction and discharge shall be placed in the
hands of said Mortgagee Within ten days next after payment. ~
j. He Will keep the improvements now existing or hereafter erected on -
the mortgaged property insured against loss by fire and other hazards, casualties
and contingencies in such amounts and for su~h periods as may be required by Mortgagee•
All insurance shall be carried in comganies approved by Mortgagee and the policies
and renewals thereof shall ~e held by Mortgagee and have attached thereto loss payable
clauses in favor of and in form acceptable to the Mortgagee. In event of loss he vill
give i~ediate notice by mail to Mortgagee, and Mortgagee may make proof of loss if
not made promptly by Mortga.gor, and each insursnce coacpa~y concerned is hereby authorized
and directed to make p~yment for such loss directly to Mortgagee instead of to Mortgagor _
and Mortgagee ~ointly, and the insurance proceeds, or a~y par't thereof,may be applied :
by Mortgagee at its option eithe~ to the reduction of the indebtedness hereby secured '
or to the restoration o: repair of the property damaged. In ev~ent of foreclosure of
this mortgage or other transfer oi title to the mortgaged property in extinquishment
of the indebtedness secured hereby, all right, title and interest of the Mortgagor
in and to any insurance policies tren in force shall pass to the purchaser or grantee•
b. He kill permit, coaanit, or suffer no Waste, im~pairment or deterioration
~ of said property or any part tnereof and Will keep all buildings and improvements
~ noW or hereafter on said property in good repair and will make any repairs srhich
Mortgagee in his discretion shall deen necessary for the proper preservation of said
~ buildings and i.mprovements .
~ 5, He ~r_1,1'pay ali and_singular the costs, charges and expenses, including
reasonable attorney's fees, cost of abstracts of title and title searches incurred
or paid at az~y ti.me by the Mortgagee because of the failure on the part of the Mortga~ror -
promptly and fl211y to perform the agreements and covenants of said note and this
mortgage, and said costs, charges and expenses shall be iu~aediately due and payable
and shall be secured by the lien of this mcrtgage, and such expenditures shall dra.v
interest at the rate of eight per cent~ per ann~mn.
6. That (a) in the event of any breach of this mortgage or default on
the part of the Mortgagor, or (b) in the event aRy of said s~s of money herein
referrec] tc; be not promptly and f~.illy paid without demand or notiee, or (e) in the
event the stipu].ations, agreements, conditions and covenants of sai~ note and this
mortgage are not dul.y, pro~ptl`J and f~.1~,Y Perfarmed, then in either or s3ny such
event, the ~aid aggregate suan mentio~zd in said note ~hen remaining unpaidr ~rith
interes~ accrued to that time, and all moneys secured hereby, shall become dwe and
payable forthvith, or thereafter, at the option of said Mortgagee, as f~lly and ~
~ complete~y as if all of th~ ~aid su~s of mc~ney ~rere originally stipulayi.ed to be paid
on such day, anything in said note or in this mortgage to the contrary notjrithstanding;
and thereupon or thereafter, at the option of said Mortgagee, Without notice or
demand, suit at laW or in equity, may be prosecuted as if all m4neys secured hereby
had matured prior to its institution.
7, Z*_r~e Mortgagee may, at ar~y time While a suit is pending to foreclose
or to reform this mortgage, or to enforce a.ny cla.ims arising hereunder, apply to
~he court having ~urisdiction thereof for the appointment of a receiver, and such
court shall forthxith appoint a receiver of the premises and a21 other property
covered hereby, including all and singular the income, profits, rents, issuES and
SGTD Form M-2906 _ 3 _ 0 R 2~ PAGE ~~0~7
(9-12-60 ) BCOK
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