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HomeMy WebLinkAbout1632 (State of Florida doeumentary st~s ii~ the au:~~tinT, :-equired by laW are f~:ced to the original of the foregoing note an3 canceZed pursu~nt to lav.) • Ancl shall duly, prompt].y and ful];f perform, discharge, execute, effect, camplete and comply with and abide by each and every the stipu.Lgtions, a~reements, conditions and covenants of said pro~:ssory note and of thi3 m~rtgage, t.ren this mortgage and the estate hereby created shall cease and be null and void. And the Mortgagor covenants and agrees to and t~ith the Mortgagee as folloWS: 1. He vill pay the princinal and interest ~nd the various and sundry s~s of m~ney pe~yable by virtue of said p~mtssory note and this mort~s.ge promptly on the days the same become dwe snd he Will promptly perform and comply With each and every other covenant and agreement in said promissory note and mortgage. ' 2. fte ~rill pey the taxes, assessmeats, levies, liabilities, obligations and inc~uabrances of every nature and kind.nov on said described property, or tliat hereafter may be im~posed, suffered, placed, levied or assessed thereon, or tr.at here- after ma,V be levied or assessed upon this mortgage or the indebtedaess secured hereby, When due and psyahle according to l.a~, before they become delinquent, and before a~y interest attaches or aRy penalty is incurred; and in so Yar as a.ny thereof is of record the same sha11 be promptly satisfied and discharged oP record and the original official document evidencing such satisfact;on and discharge shall be placed in the hands of said Mortgagee within }~en days next after payment. 3, He vill keep the improver~ents noW existing or hereaf"ter erected on the mortgaged propertv insured ag~inst loss by fire and other hazaxds, casualties and contir,genci~s in such amc~unts a.nd for such periods as may be required by Mortga~;ee . Al1 insurance sha11 be~carried in companies epproved by Mortgagee and the policies and rene~rals thereof shall be held by N,ortgagee and have attached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss he Will give i~ediate notice by mail to Mortgagee, and Mortgagee may make proof of loss if not made promptly by Mortga.gor, and each insurance compa~y concerned is hereby authorized and directed to mske payment for such loss directly to Mortgagee instead of to t•Iortgagor and Mortgagee 3ointly, and the insurance proceeds, or a~r part thereof,may be applied by Mortgagee at its option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage or other transfer of title to the mortgaged property in extin~uish~~et of the indebtedness secured hereby, all right, title and interest of the Mortga~or in and to a~y insurance policies then in force shall pass to the purchaser or ~ran~ee. 4. He Will permit, eo~ait, or suffer no Waste, iiapairment or deterioration of said property or any part thereof and Will keep all buildings and improvements now or hereafter on said property in goad repair and Will make any repairs which Mortgagee in his discretion shall deem necessary for the proper preservation of said ~ buildings and improvements . _ i ; 5. He ~rill'pay all and sin~ul.ar the costs, charges and expenses, including ~ reasonable attorney's fees, cost of abstracts oi title and title searches incurred or paid at aRy time by the Mortgagee because of the failure on the part of the Mortgagor p~ompt3,y and flilly to perfor~ the agreements and covena.nts of said note and this mortgage, and said costs, charges and expenses shall be ia~ediately due and payable and shall be secured by the lien of this mortgage, and such expenditures shall draW interest at the rate of eight per centuan per a.nni~n. 6. That (a) in the event of ~`r breach of this mortgage.or default on the part of the Mortgagor, or (b ) in the event ar~y of said s~.s of money herein referred to bs not prom~ptly and f~ally paid ~ithout demand or notice, or (c) in the ~ event the stipulstions, agreements, conditions and covenants of said note and this mortgage are not du]y, promptly and fu11,Y Performed, then in either or any such ~ event, the said aggregat.e swn mentioned in said note then remaining unpaid, Wi.th interest accrued to that time, and all moneys secu.-~ed hereby, shall become dwe and ~ payable forthWith, or tbereaY'ter, at the option of said Mortgagee, as fU11y and r coarpletel,y as if all of the said s~s of money Were 'originally stipulated to be paid ~ ~ on s~ach day, anything in said note or in th~s mortgage to the contrary natWithstand ; ~ 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 mc~neys secured hereby ~ had matured prior to its institution. ~ 7. The Mortgagee mey, at ar~y time While a si:it is pending to foreclose y ~ ~ or to reform this mortgage, or to enforce any cl,ai.ms arising hereunder, apply to } the court havin~ ~urisdiction thereof for the agpoint~nent of a receiver, and such ~ court shall forth~rith appoint a receiver oa the premises and all otY~er property ~ covez°ed hereby, including all and singular the income, profits, rents, issues and ~ ~ SWD Form M-290b (9-12-60) ~ 3 ~ . IOOA~~ PACE1~ ~ , ~ ~ ry - ~'^KV -ev i~ y,r. -„T F s' ' ~ ~ ' a ~ z ~ t_ _ r.~ ~ . .w , . .