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Home My WebLink About1806 . -i- _ • ~ , . . 1~?is mortgage is made, ho~rever, subjrct to the foltowing covrnants, conditions znd agreements: FIRST: Zhat the modgagor hereby agrees and covenants to pay the interest and princiQal hereby securcd pcompt~y when due and if default be made in any part thereof, or in the payment of any other mon~a hereby serured, then the same shatl, without danand if mortgagce shall etect, become due and payable at once and the moctgage may be foralosed in the manner pmvided by law. SECOND: 11?at the mortgagor agrces to pay u the same become due and payable alt taxa, assessaxnts, and other charga imposcd by law (including d~tch, canal, reservoir, or other water charges, taxes, or usessments) upon said pranises or any part tliereof including the mortgagce's interest therein and upon this moctgage or the ~ote or indebtedaess sccured hereby, provided that should the amounts paid for the mortgagce under this ~aragraph tor such taxes, assessments and otha charges together with the interest on the indebtedness exceed the highest mterat ntepe rmitted by law on the indebtedneu thrn owmg, modgagor shall not be liable to pay any of such excess o~er the highat lawful rate. In the event of the pasuge, after the date hereof, of any law by the State of Florida, deducting from the value of land for the purpose of taxat~on any !irn thercon or changing in any way the existing laws for the taxation of mortgaga or debts secured by moct- gage for statc or (ocalpu tposes, or the manner of the collection of any such taxes, so as to aficct this mortgage, the hotder of this modgage and of tfie debt which it secara, shall have the right to gire six (6) months' writtrn notice to the owner of said land requiring thepa vment of the entirr indebtedness xrured hereby, and it is hereby agreed that if such notice be gi~~en the said indebtedness shall become due, and collectible at the expiration of said six (6) months. THIRD: That tfie mortgagor agrees to pay all other debts that are now or may become liens u~on or charges against said pranises, and not to permit any lien of an~ kind to accrue and remain on s:~id premises, or the improvements thereon, which mi~ht take precedente ovet the lirn of this mortgage. The mortgagor further agce~s not to crtate any lien on s3id premises ~un~or hereto unless the person rntitled to the benefits thereof shall ha.•e agreed that the tim~ for the payment oi the indebtednas hereby secured and the manner and amount ofpa yment thereof and the bene6ts of the secunty afiorded hereby may, without consent of such person and arithout any obligation to give notice of any kind thereto, be extended; reactrnded. ucelented, susprnded and refunded on any terms whatsoe~•er without in any manner af~ecting the priority of the lirn hereby creatcd u security for the payment of the indebtcdness secured hereby or any obligation substituted therefor or issued to nfund same. ' FOURTH: That the moctgagor agrces to keep said premises and impro~•ements thereon in good condition and repair ~ ; and not to commit or suffer aaste thereof; to operate all lands, whether improvcd pastures, orchards, grazing, timber, or crop 13nds, in a good and husbnndmanlike manner in accordance with..acce~tcd principles of sound agricultural and forestry prachces; to take all reasonable precautions to control wind and water erosion: to fercil~ze impro~ed pastura, if any, where ~ necessacy to cnaintain a good stand of dairable grasses: to protect orchards and timber, if any, by reasonable praautions against loss or damage bq fire including the maintenance of appropriate fire breaks; and neither to remove nor permit the ` removal of any timber, b~ildings, oil, gu, mineral, stone, «xk, clay, fertilizer, gra~•et or top soil without the pnor writtrn ~ consent of the mortgagee. 'I~e mortgagee shall have the right to inspect the moctgaged . property at such reasonable times € and intervals u the modgagee may desire, to detcrmine the mortgagoi s compliance with the covenants containrd in any ~ clause of this mortgage. , F1FTH: 'I7~at the mortgagor aRrees to procure, maintain and deli~•er, premiums paid, to the mortgagee policies of ~ insurana against such huuds on ihe buildings now or hereafter located on said premises as the mortgagee may from time ; to time re~uire, in such compania and in such amount and form and with such loss payable dauses as shall be satisfac- ~ tory to the modgagee. 'Il~e mortgagec is authorized to assign and deli.•er said policies to any purchaser of this mortgaRe or ~ to the purchuer of said premises at anq foralosure sale. In e~~ent of loss the mortgaRee is expresslv authorized and em- ~ powered to settle or compromise claims nnder said policies, and the proceeds from said poticies u well as any other policies procured by the modgagor shall be paid to the mortgagee who at its sole discretion may apply same or zny part thereof on ~ account of the indebtedness secured hereby whether or not then due and pavable, or may apply the same or any part thereof ~ towards the alteration, reconstnxtion or repair of said buildings, either t~ the portion damaRed or any other ~rtion therenf,' ~ or release same to the mortRagor. Such application or release shall not cure or wai~~e any default or notice of default here- ~ under or invalidate any act done punuant to such noticc. SIXTH: That in the event the mortgagor shall fail to procure, m3intain and deliver the insurance ~licies, premiums ~ prepaid, or to pay, as the same become due and payable, any tax or assessment imposed by law upon said ~remises or any ~ part thereof, or the note, or indebtedness secured hereby, or to pay any lien, daim or char~e against wch premises which ~ might take pcectdence over the lien of this moctgage or to comply w~th the provisions of ParaRraph Fcwrth hereof, the mortgagee mav, without notice or demand, insure any of the buitdinj;s and pay the cost of such insurance and pay any of ~ said tues, assessments, liens, claims and charges. or any part therrnf, or redeem from the sale of said premises for any ; taxa or assessments (ircegularities in the le~y or imposition of any tax or assessment beinR expresslq wai~ed), cu redeem ' from the sale of said premises raulting from the rnforcement of an~ such lien. claim or charqe, or expend such sums as ~ may be necessarv to correct the failure of the mortqagor to comply with the provisions of said paragraph Fourth, and the mortgagon c~reby agrees immediately to repay to the mort~aQee, without notice or demand. anv sums so oaid with interat k thereon at the same rate u specified in the note secured hereby on the principal thereof after default and cnaturitv, and all sums paid bv the mortgagee with interest shall become a p3rt of the indebtedness secured herebv, and in default of immediate repavmrnt thereof by the mortgagor the whole indebtedness secvred hereby shall at the option of the mortgagee i ~ become due and payable forthwith without notice. = SEVENTH: 7hat in the event the mortgagor sells or com•cvs said premises, or any portion thereof, or, if the ~ . s; mortgagor ~s a corporation, sells, trades or dis~scs of more than S.Q.......~Jo of its corporate stock to persons other than the present owners, the~r heirs and qualified dirators prior to the time the indebtedness secared hereby shall have been ~ reduced to;..Q...~Q.........., thrn, at the option of the mortgagee, the entire said indebtednas shall become due and payable. ~ EIGHTH: That the mort a or a rees to a on demind all ex nses and attorn s fees incurrcd b the mort a ' ~ 88 8 PY ~ ef'~ Y 88K~'9 : ~ rnwn of litigation or legal proceedinRs in which the mortgagee is made a party to protect the lien of this mortgage and ; ~ all moneys so ~id by the mortgagee, including any eape~se incurred in procvring or continuing abstruts of tide and titk ~ policia and searching the records for the purposcs of such litigation, shall bear interest at the same cate u speci6ed in the ~ ~ . - P~18Q5 ~ . ~ _ _ ~ r . _ - . _