Loading...
HomeMy WebLinkAbout0538 . , . , . .i . . .r PROVIDED ALWAYB. and these presenta are upon theae expreas condiUona. that it Mottgagor ahall prompUy pay to Mortgagee On@ certain pmmissory note ~ even date herewith, made Dy l"brtgaqors 1T1 the principal amount of $7,000.00 pay,?~e co cne oraer ot a~oK~ee. ac Mortgagee's offices in Bradenton, Manatee County, Florida, a copy of which note is attached hereto as Exhibit "A" and made a part hereof . , And until full payment thereot. or any extenaions or renewala thereM. in whole or [n part, and payment of all other indeDtedness or liabilitq Wat may become due or owing hereunder and secured hereby. ahall faithfully and prompUy comply with and pertortn each arid everq other covenant and pmvision herein on the part of Mortgagor to be complied with and performed. then thC.9C presents ahall be void. And biortgagor hereby covenants as follows: . Z'o pay, with interest, sald notP and any e~ctenaions or renewala thereof. in whole or in part. and all other indebtedness or liability hereby aecured, however created or evidenced, promptly when the same respectively becomes due; to pay and/or discharge any other amounts, indebtednesa and/or llability that may in the futurc become due, owing or outstanding t~'om Mortgagor to Mortgagee, however the same raay be or may hav e been contracted, evidenced or accrued;. and that this mortgage shall secure all such amounts, indebtedness and/or liability to the extent of ~ 7• • ~Q . in addition to all other amounts ~ due or to become due hereunder as hereiir specified; to pay all taxes and assessmenta levied or assessed upon said property before the same become delinquen~ and in no event Lo permit said pmperty, or any part thenwi, to be sold for non-payment o! faxes or • assessments; to keep said property in good repair and to permit. commit or suffer no waste, impatrment or deterioration thercof; to comply strictly with all laws and governmental regulationa and rules affecting said property or its operation; to pSy all tex~ that mey be levied or assessed on this mortgage or the moneya secured hereby. pmvided that in no event shall ihe amount paid on account oi auch taaes, together with the intereat psid on the indebtedneas aecured hereby. exceed the ma~cimum intereat rate allowed by law; to permit no mechanic's or other liens arlaing either by contract or by 1aw, which might be prior in lien to the lien hereol. to be created or reat upon all os any part oi aforesaid premiaes or property for ten daya without the same being paid or released, and di~charge of said ptemises and property therefrom procurcd; and to pay all oosts and expenses incurred or paid by Mortgagee in collecting the moaeys hereby secured or in enforcing or protecting the righta and ~ecurlty o! the Mortgagee hereunder. including reasoneble attorneys' fees. in Lhe event said raortgage snd note or other evidence of ltability be , placed in the hands oi an attorney !or oollection. ~ Mortgagor further covenants to keep the buildings, structures and other improvementa naw or hereafter erected or placed on i the premises and constituting a part of Lhe mortgage security constantly insured against all losa or damage bq fire in a sum not ~ less than ~ insurable value ~~d y~ losa or damage by tornado or wlndatorm in a sum of not leas than ~ insurable value ~,n~,n;~ ~at~ractory to Mo~ee (but Mortgagee shall not be liable !or the insolvency or irresponsibillty oi any auch oompanies), and to pmmptly pay sll premiuma for such insurance, the polides ~ representing which shall be delivered to and held by Mortgagee as additional securlty for the payment of the indebtedneas and f liability secudty hereby. All suunns rec:overable on sny auch ias urance poHcies stisll be made payable to Mortgagee by a la4s t payaDle clause eatisfactory to Mortgagee, to be attaehed to suc h policies. In the event any such insurance pollcy shall etpire ~ during the life here~f, Mortgagor agrees to procure and pay for renewal thereof, with the above requirements, replacing such expired policy, and depoa[t the same with Mortgagee, together with receipts showing payment in full of premiums therelor. ten ~ days pdor to the expiratlon date oi such policy. In mae o! losa Mortgagee is hereby suthorized to adjust attd settle any claim ~ under any such pollcy and Mostgagee is suthorized to collect and receipt for anq such insurance moaey and to apply the same. at Mortgagee'e opt[on, in reduction of the indebtedness hereby aecured, whether due or not. or to allow Mortgagor to use such ~ insurance money. or any p~srt thereot, in repairing the damage o r restoring the improvements or other property without affecting ~ the Hen hereo! for the t~ill amount ~ecured hereby. r ~ It is further covenanted that Mortgagee may (but shaII not be obligated so to do) advance moneya that should have been paid by Mortgagor hereunder in order to protect the Hen or security hereof, and 1ltortgagor agrees without ~e;nand to forthu-ith ~ repay such moneya, which amount shall bear interest trom the date so advanced until paid at the rate of 1 U per cent, per ~ annum and shall be considered as eo much additional indeDtedneee secured hereby; but no peyrnent by 1?iortgagee of any such ~ moneya shall be deemed a waiver oi Mortgagee'a rlght to declare the prindpal sum due hereunder by reason of the default or ~ violation of Mortgagor in any of hia covenants hereunder. ` lliortgagor further covenanta that granting any extension or extenstons of the time payment ot any part or all of the total ~ indebtedness or liability aecured hereby, or taking other or additional aecurity for payment thereot. ahs~ll not affect this mortgage ~ or the ri hts of Mo ee hereunder or o rste as a release from an llabilit u n an art of the indebtednesa hereb aecured 8 ~S . Pe Y Y Po Y P Y . 3 under sny covenant herein contained. ~ ~ It ia further covenanted and made of the essence hereof that in caae of default tor five days in the performance of any of ~ the covenanta herein on the part of Mortgagor, then it ehall be optional with 1liortgagee to consider all unmatured indebtedness or ~ liabiHty secured hereby, snd accrued interest thereon, as immediately due and payable, without demand and w[thout notice or declaration of said option, and Mortgagee shall have the right forthwith to institute proceedings to enforce the collection of all ~ moneya secured hereby and/or to foreclose the lien hereof. ~ ~ It is further atipulaied and agreed by and between the partles that the Mortgagee ehall have the dght to exercise any option ~ or privilege herein given or reaerved snd to eniorce any duty oi the Hortgagor at any time without furthcr or other notice ~ regardlesa of any prior waiver by Mortgagee or default of Mortgagor or dels,y by l~dortgagee in exercising any rlght, optlon, or ~ privilegc or enforcing auch duty ot Mortgagor. and no wafver by Mortgagee of default of Mortgagor nor delay oi Mortgagee in ~ exercising any rigrit, privilege, or opUon or in enforcing any duty of Mortgagor shall be deemed, held, or conatrued to be a watver ~ oi any of the terma or provisions of thls mortgage or ot any subaequent deLaul~ ~ Boar2~6 ~acE 5~ ~ f; ' ~ ' j . ~ • ~ ~ ' ~ ~ ~ _ ~ . _ s~~