HomeMy WebLinkAbout0682 ~'I~is awrtgagt is made, howevet, subjcct to the follo~ring covrn~nts, conditions a~d agreements:
FIRST: That the tnortgagor hereby agrces and covenants to pay the intcrest and princiQal hercby secured promptly
whea due and iE default be made in any pan th~reof, or in the payment of a~y other mon~es hereby srcured, then tht
sune shaN~ without dea~and if mottgagce shill elect, become due znd payable ~c orxe and the.mortgage may bc focalosed
in the manner provided by law.
SECOND: 'I~wt the mortgagor agrees to pay zs the same become due and piy~bk all taxa, usessmrnts, and other
charges imposed by law (including ditch, canal, resen~oir. or other water charges. taxa. or usessments) upon said
pranixs or anq part thereof including the mortgagee's interest therein and upon this mortgage or the note or indebtednas
secured hereby, provided t}ut slwald the amounts paid for the mortgagee under this Qaragraph for such taxa, uxssments
and other charga togcther with the interest on the indebtedness exceed the highest interat ratepe rmitted by law on the
indebtedness then owing, mortgagor shall not be liable to pay any of such excess o~•er the highest lawful rate. in the event
of the passage, after the date hereof, of any law by the State of Florida, dcducting from the ~~lue of land for the purpou
of tixation any lirn thereon or cha~gin~ in any way the existing laws for the tixition of mortgages ar debts securcd by moct-
gage for state or localpu cposes, or the manner of the collation of ~ny such taxes, sc~ as to affat this mortgage, the holder of
this modgage and of tfie dcbt which it saitres. shall ha~•e the right to gi~~e six (6) months' writttn notice to the owner of said
land requiring thepavment of the entire indebtedness secured hereby, and it is hereby agreed th3t if such notice be gi~•en the
said indebtedness sliall become due, and collectible at the expiration of said six (6) months.
TI~IRD: '!'hat the mortgagor agrees to pay all aher debts that are now or may become liens upon or charges against
said premiscs, and not to permit any lien of an~ kind to accrue and rerruin on said premises, or the ~mpro.•ements thereon, _
which mi~ht take precedence over the lien of this ~?ortgage. The mortgagor fudher agrres not to create any lien on said
premises ~un~or hereto unless the person rntitled to the benefits thereof shall have agreed that the time for the payment of
the indebtedness hereby sccured and the manner and amount of payment thermf and the benefits of the secunty afiorded
hereby may, without consent of such person and without any obligation to give notice of any kind thercto, be extended,
reextrnded, ucelerated, susprnded and refunded on. any terms whatsoe~•er ~vithout in any m.inner affecting the priorit}
of the lirn hereby created u secUrity for the payment of the indebtedness secured hercby or any obligation substituted
therefor or issucd to refund same.
FOUR'TH: That the mortg~got agrees to keep said premises and improvmxnts thereon in good condition and repair
j and not to commit or suHer wute thereof; to opente all lands, whether impro~~ed pastures, orchards, grazing, timber, or
; ctop lands, in a good and hasbandmanlike manner in accordance with acceQted principles of sound agricultural and forestry
I practices; to take all reuonable pcaautions to control wind and witer erosion: to fert~hze impro~•ed pastura, if any, wherc
netessary to maintain a good stand of dairable grasses; to protect orchards and timber, iF any, by reasonable praautions
~ against loss or damage by 6re including the maintenance of appropriate fire breaks; and neither to remo~e nor permit the
~ remo~al of any timber, buildings, oil, gas, mineral, stone, rcxk, clay, fcrtilizer, ~racel or top soil vvithout the prior written
~ consrnt of the mortgagee. The mortgagee shall have the right to inspett the mortgaged property at such reasonable times
and intecvals u the mortgagee maq daire, to determine the mortgagor's compliarxe with the co~enants contained in any
, clause of this modgage_
§ FIFTH: 'Ihat the mortgagor aRrees to procure, maintain and deli~~er, premiums paid, to the mortgagee policies of
~ insurance against s~uh hazards on the buildings now or hereaFter located on said premises as the mortgagee may from time
~ to time requ~re, in such companies and in such amount and form and with such loss payable clauses u shall be satisfac- "
~ tory to the mottgagee. The mottgagee is authoriud to assign and deli~•er said policies to anp purchaser of this mortgaqe or
~ to the purchuer of said premises at any foratosure sale. In e~•ent of loss the mortgagee is cxpresslv authorized and em-
~ powered to settle or compromise claims under said policia, and the proceeds from said policies as weli u an} othec policia
procvred by the mortgagor shall be paid to the mortgagee who at its sole discrction rnay apply sune or any part thereof on
account of the indebtedness secured hereb~ whether or not then due and pavable, or rnay apply the same or any part thereof
towards the alteration, reconstruction or repair of said buildings, either to the fx?rtion damaRed or any other ~rtion thereof,
or release same to the mortRagor_ Such application or release shzll not cure or wai~~e any default or notice of default here-
under or invalidatt any act done pursuant to such notice.
~ SIXTH: That in the event the mort a or shall fail to rocure, maintain and deliver the insurance licies, retniums
~ prepaid, or to pay, as the same become due and pa~able, any tax ar assessment impcxed by !aw upon said nremises or any
paet thereof, or the note, or indebteclness secured hereby, or to Euy any lien, claim or charRe against such premises which
~ m~ght take praedrnce o~er the lien of this mortgage or to comply w~th the pro~~isions of paraRraph. Fourth hereof, the
~ mortgagee mav, without notice or demand, insure any ~f the buildings and ~ay the cost of such insurance and pay any of
said tua, usessments, liens, claims and charges. or any part thermf, or redeem from the sale of said premises for any ~
~ taxa or assessmrnts (irregularities in the le~y or im~sition of any tax or assessrnent beinR exprasly waived), or redeem }
- from the sale of said ptemises raultin~ from the rnforcement of anv such lien. claim or chu~e, ot e~cPend such sums as ~
; may be naessarv to correct the failure of the mortqagor to compl~ w~ith the provisions of said paragraph Fourth. and the
mortgagor hereby ~grees immediately to repay tn the mortRaQee, without notice or demand. anv sums so oaid with interat
~a thereon at the same rate u specified in the note secured hereby ~n the principal thereof after default and maturitq, and all
sums paid bv the mortgagee with interest shall become a pirt of the indebtedness secured hereby, and in default of ;
~ immediate repavment thereof by the mortgaRor the whole indebtedness secured hereby shall at the option of the mortgages~. -
become due and papable forthwith without notice.
SEVEIVTH: 'That in the e.-ent the mortgagor sells or c~n.•ey~s said prernises, or any portion thereof, or, if the
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~ mortgaAor is a torporation, sells, trades or disposes of more than ......SQ._...~ of its corporate stock to persons other than :
the prcsent ownecs, the~r heus and quali6ed directors prior to the time the indebtedness stcured hereby shall have been
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~ red~ced to:••Q•••QQ••--••-•••.. thtn, at the option of the mortgagee,~he entire said indebtedness sh~ll become due and payable. ~
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~ EIGHTH: That the mortgagor agrces to pay on dem~nd all eupenses and ittorneys' fces incurred by the mortgagee by
rruon of litigation or legal praeedinRs in which the mortgagee is made a pady to protect the lien of this moctgaRe and
~ all moneys so paid by the mortgagee, including any ex~xnse incurred in procuring or tot~ir~ruing abstracts of tiNe and titk
' policia and searching the tecords for the purposes of such litigation, shall beir intettst~ at the same rate u specified in the
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