HomeMy WebLinkAbout2386 conditions and covenants of said promissory note and this deed, or
either, and every such payment shall bear interest from the date of ~
said payment at the rate of 9 percent, per annum.
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4. To permit, commit or suffer no waste, impairment or r
deterioration of said property or any part thereof. - ;
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5. Mortgagor covenants and agrees for so long as all, or
any part of the indebtedness secured hereby remains unpaid to ~
preserve, maintain and care for the existing producing citrus
groves upon the above described premises, such care and maintenance
to include cultivating, spraying, dusting, pruning, fertilizing,
watering, protection against damage by frost and fire, marketing of
crops and replanting of trees when needed, all to be done in a
husband-like manner and in accordance with approved methods of
grove culture, and agree not to top-work said groves without the
- written consent of the holder of this mortgage, provided further
that upon the failure of the Mortgagor to fully comply with any or
all provisions of the above covenants, the holder of the indebted-
ness secured hereby, in addition to all its other rights and remedies
for breach of covenants in this mortgage contained, and in addition
to its right, hereby expressly given, to declare a default upon the
breach of any such covenant, may, at its option, take such action
as it deems necessary to preserve, maintain and care for the premises
and said holder of such indebtedness is hereby given full rights of
ingress and egress to the premises securing this loan in order to
preserve, maintain and care for such premises for so long as all or
any part of the indebtedness secured hereby is unpaid, and any
reasonable expense incurred by it in so doing shall become part of
the indebtedness secured, hereby, and shall become immediately due
and payable and shall bear interest at the rate provided herein for
matured obligations, however, it is expressly understood an~ agreed
that the holder of such indebtedness is under no obligation to so
do, except at its own election, and failure on the part of such
holder to take any action hereunder shall not constitute a waiver ;
of further breaches of such covenants; it is further covenanted
and agreed by the said Mortgagor that he will not mine or cause,
authorize or permit any mining of phosphate, limerock, limestone,
clay, sand, oil, petroleum or any other mineral on the lands secured s
by this mortgage without the prior written consent of the Mortgagee ?
' and any violation of this covenant shall give the said Mortgagee
~ the option to-declare a default on said mortgage and accelerate the
~ principal balance due on the note hereby secured, together with any
; other rights in case of default as otherwise provided in this
` instrument, provided, however, that nothing contained herein shall
~ prohibit and restrict Mortgagor from developing the above described
~ property for residential or commercial purposes and removing all or
~ portions of said grove in the course of such development.
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6. To perform, comply with, and abide by each and every s
the stipulations, agreements, conditions and covenants in said
promissory note, and in this deed set forth.
7. If any of said sums of money herein referred to be ;
- not promptly and fully paid within 30 days next after the same ~
~ severally become due and payable, or if each and every the stipula- ~
~ tions, agreements, conditions and covenants of said promissory note
~ and this deed, or either, are not fully performed, complied with j
~ and abided by, the said aggregate sum mentioned in said promissory ~
note shall become due and payable forthwith or thereafter at the ~
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~ option of the Mortgagee, its successors, legal representatives or
~ assigns, as fully and completely as if the said aggregate sum of
~ $95,538.51 were originally stipulated to be paid on such day, ~
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anything in said promissory note or herein to the contrary notwith- ~
standing. - ;
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