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Home My WebLink About2310 > ~ L lbis mottgage is made, however, subject to the following co~•rnants, conditions and agreements: FIRS7: Tlut the mortgagon c~reby agrees and covenants to pay the interest and princi~al hercby secvred promptly when due and if default be made in any part thereof, or in the payment of any other mon~a hereby secured, then the same shatl, without demand if mortgagce shall dect. become due and payable at once and the moctgage may be forerlosed in the mannet providcd by law. SECOND: 'I7~at the mortgagot agrees to pay u the same become due and payable all taxes, assessments, and other _ chuges ~tnposed by law (including ditch, canal, reservoir, or other water charges, taxes, or asscssments) upon uid premises or any patt theteof including the mortgagee's interest therein and upon this mortgage or the note or indebtedness secured hertby, provided that should thc amounts paid for the mortgagee under this paragraph for such taxes, usessments and other charga together with the interest on the indebtedness exceed the highest interat ratepe rmitted by law on the indebtedness thrn owing, mortgagor sha4 not be liable to ~ay any of such excess over the highat lawful rate. In the event of the passage, after the date hercof, of any law by the State of Florida, deducting from the value of land for the purpox of taxztion any lien thereon or changing in any way the existing laws for the taxation of mortgaga or debts secured by mort- gage for state or local purposes, or the m~nner of the collection of any such taxes, so as to affat this mortgage, the holder of th~s modgage and of the debt which it sectires, shall ha.•e the right to gi~•e six (6) months' written notice to the owner of said land requinng the pavment of the entirr indebtedness ~ecured hereby, and it is hereby agreed that if such natice be given thc said indebtedness shall become due, and collectible at the expiration of uid six (6) months. , THIRD: 'That the mortgagor agrees to pay all other debts that are now or may become liens upon or charges aga+nst said pcemises, and not to perm~t any lien of an~ kind to accrue and remain on s~id premiscs, or the impro~~ements thereon, which mi~ht take praedence over the lien of this mortgage_ The mortgagor further agrees not to create any lien on said premixs ~unior her~to unless the person entitled to the benefits thereof shall ha.•e agreed that the time for the payment of the indebtedness hereby secured and the manner and amount of pa~Tnent thereof and the benefits of the security afiorded hereby may, without cooset~t of such petson and without any obligation to give notice of any kind thereto, be extended, ree~ctended, accelerated, susprnded and refunded on any terms whatsoe~~er without in any m~nner affecting the priority ' of the lirn hereby cteated u securitq for the payment of the indebtednas secured hereby or any obligation substituted ~ ' therefor or issved to cefund samc. ~ FOURTH: That the mortgagor agrees to keep said premises and improvements thereon in good condition and repair ; and not to commit or suffer waste thereof; to operate all lands, whether improved pashires, orchards, grszing, timb~r, or i crop lands, in a good and husbandmanlike manner in accordance with uce~ted principla of sound agricultural and forestcy ~ prad~ces; to take all reasonable precautions to conttol wind and water eros~on: to fert~lize impro~~ed pastures, if any, where ! netessary to maintain a good stand of desirable grasses; to protect. orchards and timber, if any, by reasonable precautions . ~ against loss or datnage by fire including thr maintenance of appropriate 6re breaks; and neither to remove nor permit the ° removal of any timber, buildings, oil, gas, mineral, stone, rock, clay, fertilizer, gravel or to~ soil without the prior written consent of the moctgagee. The mortgagee shall ha~•e the right to inspert the mortgaged property at wch reasonable times ; and intetvals u the mortgaget may desire, to determine the mortgagor's compliance with the covenants contained in any ciause of this mortgage. " i FIFTH: That the mortgagor aRrees to procure, maintain and deliver, premiums paid, to the mortgagee policies of ? insurance against such hazards on the baildings now or hereafter located on said premises as the mortgagee m~y from time y to time requ~re, in such companies and in such amount and form and w•ith such loss payable clauses as shall be satisfac- 3 tory to the mortgagee. The moctgagee is authorized to assign and deli~•er said policies to any purchaser of this mortgaRe or ' to the purchaset of said premises at any foralosure sale. In e.~ent of loss the mortRagee is expresslv authorized and em- q powered to settle or compromise claims under said policies, and the proceeds from said policies as well as any other policia Q ptocvred bq the mortgagor shall be paid to the mortgaRee who at its sole discretion may apply same or any part thereof on ~ ucount of the indebtedness secured hereby ahether or not then due and pavable, or may aPply the same or any patt thereof ~ towards the alteration, reconstruction or repair of said buildings, either t~ the portion damaRed or any other ~rtion therc~f, ~ or releax same to the mortRagor. Such application or release shzll not cure or wai~•e any default or notice of default here- ~ under o~ invalidate any act done Furs~ant to s;:ch nntice. SIXT'H: That in the event the mottgagor shall fail to procure, m~intain and deli~~er the insunnce ~licies, premiums ~ ptepaid, or to paq, as the same become due and pay~able, an}~ tax or assessment imposed by law upon said rremises or an) ~ pad thereof, or the note, or indebtedness secured hereby, or to pay any lien, claim or charqe against such premises which might take precedence over the lien of this mortgaRe or to comply w~th the pro~•isions of paraqraph Fourth hereof, the ~ mortgagee mav, without notice or demand, insure any of the buildings and pay the cost of wch insurance and pay any of ~ said taxes, assessments, liens, claims and charRes. ~r any part thereof, or redeem from the sale of said premises for any ta:a or assessmrnts (irrep,ularities in the levy or im~sition of an~• tax or assessment beinR expressly waived), or redtem :a from the sale of said prem~ses resulting kom the enforcement of an~ such lien. claim or charqe, or eupend such sums as map be necessatv to correct the failure of the mortqagor to compl~_ with the provisions of said paragraph Fourth, and the modgagor hereby agrees immediately to repay ro the mart~aqee, without notice or demand, am~ sums so oaid with interat thereon at the same rate u speci6ed in the note secured hereby on the principal thereof after default and maturitv, and all ~ sums paid bv the mortgagee with interest shall become a pirt of the indebtedness secured hereby, and in default of a immediate repayment thereof bp the mort~agor the whole indebtedness secured herebf shall at the option of the mortgagee ~ become due and payable forthwith a•ithout notice. ~ SEVEIVTH: That in the ercnt the mortgaRor sells or com~efs said premises, or any portion thereof, or, if the mortgagor is a corporation, sells, trades or disposes of more than .....OQ......~f~ of its carporate stock to persons other than ~ the present owners, their heirs and qualified directors prior to the time the indebtedness secured hereby shall ha~e betn ; teduced to :......Q... Q4......., then, at the option of the mortgagee, t6e entire said indebtednas sh~ll become due ind payable. EIGHTH: '7That the mortgagor agrees to pay on dem~nd all expenses and attorneys' fees incurred by the mortgagee by = rr~son of litigation or legal proceedinRs in which the mottgagee is made a party to protect the lien of this mortgagt and all moneys so paid by the mortgagee, including any expense +ncurred in procuring or continuing abstracts of tide and titk ; policia and searching the raords for the purposes of such litigation, shall brar interest at the same rate u specified in the Bo~Kz37 ~A~Ez3os ~ ~ - - _ h~~ _ ~ - ~.._r~nM. ~ , _