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HomeMy WebLinkAbout2334 ~ . t i i r i s 'I'OCETHER W1TH all and unaular the tenements. hereditamcnts and appurte~anca therrunto bebnging or in anywix ~ thereunto appectainins and the ceats. issua and pw[iu thercof, and alw al! the estate, right, titie, intecat and aU claim and demand wluesoever~ ~ weU in law ai in equity, ot the said Mo~tgagor in and to the wme, includiag but n~t limitcd to: (a) A11 nats, profitf. reveaues, royaltia, righes and benetib derived fwm (1) ciops gmwn oo iaid security and produce of the :oil otherwise (2) oil, ga or mineral kaxs of the premises or u?r put the~eof, now existina or hereinalter made, and (3) aU othe~ nnts. issua and pmtip of the premises trom time to time accruina, whethe~ under leases or tenancies rww acisting or herea(te~ created; in eacA such case with the riaht in tAe 1?iortga3ee~ but only at iu option, to recei~~e and receipt tfie~efor and to apphr the ume u it mar clect to anr iadebtedness secured hereby. and the Mortgagee, at its optio~, may demand, sue (or and ~ecove~ any such payme~ts, reservina to the Mortgaaor. however, so bna as said Mo?tgagor is oot in default Aereunder, the right to receive and reuin wch nnts~ issua and profits. ~ (b) Afl judgmenb, awards of damases and xttlemenes herealter made u a rault of or in lieu o( any taking of the ~ premises or any part thereof under the power ot eminent domain, or tor any damage (whether caused by such taking or otherwise~ _ to the prcmises or the improvemrnts thereon or any put thereof; sucb put of aoy such judgment, award or utdement, as the ~ Mortgagee may elect to be applicd to tLe indebttdness hereby secured and the balance therto(, i( ~ny, to be res~rved to the ~ puty o~ parties otherwise cntitlcd thereto. TO HAVE AND TO HOLD the above granted and deuribed prem'ues to the said I~fo~tgaqee, its successors and assicns, i (orever, and the said Mortgagor does he~eby fuUy waaant the titk to said land, and will detend thc same aga~nst the lawful ~ claims of all penon~ whomsoever; pwvided always that if Mortgagor shaU pay to Mortgagee that certain promissory note abo~•e ~ described and sha11 perform all other covenants and conditions of said promissory note, and o( any renewal, extension o~ modi- [ication thereo(, and of this mortgage, then this mortgage and tfie estate hereby crcated shall cease and be null and void. Mortgagor (urther covenanu and agrees with ~iortgagee as tollows: t. To pay a11 sums including interat secured hereby when due, as provided for in said promissory note and any renewal, ~ extension or mod~fication thereo! and in this mortgage, all such sums to be payablt in lawtul money o( the United Stata of America at Mortgagee s aforesaid principal o(fice, or at such other place as Mortgagee may designste in writing. 2. To pay when due, and without requiring any notice from biortgaget, aU taxes, assessments o( any type or nature and other chargcs le~~ied or auessed against the premises hereby encumbered or any interest of ~iortgage therctn. To immrdiately pay and discharge any clai~n; licn or encumbrancc against such premises which may be or become superior to this mortgage and to permit no default or delinqucncy on any other li~n, encumbrance or charge against such pcemises. 3_ If required by \lortgagee, to also make monthly d.~Qosits with \iortgagee, in a non-interest bearing account, togetfier with and in addition to int~rat and principal, of a sum tqual to one-twelfth of the yrarly taxes and ass~ssments which may be 1n•ied against the prcmises, and (if so required) one-twrlfth of the ~~srly premiums (or insurance ther-on. The amount of such ~ taxa, asseuments and premiums, whrn unknown, shaU be estimatcd by I~iortgagee. Such deposits shall be used by Mortgaeee to pay such taza, assessments and premiums whe~ due: Any insu[Eiciency ot :uch account to pay such charges when du= sh~l! $ be paid by Mortgagor to Mortgaqee on demand. I(, by reason of any default by l~fortgagor under any pro~•ision of this mort- ) gage, 111ortgaqee declara a11 sums secured hereby to be due and payable, Mortgagee may then apply any funds in said account against the entire indebtednrss secu~ed hereby. Th~ rnforceabifity of the covtnants refating to taxes, aueuments and insurance ~ prcmiums herein otherwise provided shalt not be af(ected except in so far as those obli¢ation: ha~•~ bcen met by compliance with this paragraph_ I11ort¢agee may from time to time at its option wai~•e. and aft~t any such w•ai~•cr reinstate, any or all provisions hereoi ~rquiring such dtposiu. by notice to 1lfortgagar in writing. ~Yhile any such wai~•er is in effect ~tortgagor shall pay taxes, assessments and irtsurance premiums as herein elsewhere providcd. 4. To pay all tazes, stamp tax or other charge which may be assessed upon this mortgage, or said note, or indebtednns ; secured hereby, without regard to any law, Fede~al or State, hereto[ore or herea[tcr enacted, imposing payment oE all or any ~ part thereo( upon Mortqag~e. In event of enactment of any law imposing payme~t of all or any portion of arty such taxes upon ; Mortgag~e, or the rendering by any court of last resort ot a decision that the undertakinv by ~fortgagor, as herein proa•ided, to ~ . pay such tax or taxa is legally inc,perative, then, unless Mortgagor neverthdess pays such taues, all sums hereby secured, without ~ any deduction, shall at the option of Afortgagee become immediately due and payable, notwithstanding anything contained herein ~ or any 1aw herctofore on c~r~after ~nncted. i 5. To keep the pr~mises insured against Ioss or damage by fire, windstorm or ext~nded coverage and such other hazards as : may be requir~d by Mortgagee, in form and amounts satisfactory to, and in insurance companis appro~ed by 1liortgagee, and with i acceptable mort¢aq~e loss payabk dauses attached. Such policia, together with such abstracts and other tide evidrnce as may - be requi~ed by Mortgagee, shal! be deli~~ered to and held by Mortgagee without liability. Upon foreclosurc oi this mortqag~ or ~ other acquisition oi the premises or any pazt thereo( by 1liortgagee, said policies, abstracts and tide e~~idence shall become the ; ~ absolute propertq of I?tort¢aq~e. 6. To ~rst obtain the written consent o[ Mortgagee, such constnt to be granted or withheld at the sole diuretion of such = Afortgacee, be[ore (al removing or demolishing any building now or hereaft~r erected on the premises. (b) altering the arrange- : mrnt, desi¢n or structural character thereo(, (c) making any repairs which invohe the removal of structural paru or the exposure oE the interior of such building to the dements, or (d) except tor domestec purposes, cutting or removing or permitting the cutting and remo~•al of any trces or timber on the premises. ' ~ 7. To maintaen premises in good condition and repair, including but not limited to the mating of such npairs as ~iortgagee may from time to time determine to be necessary (or the preservation o! thc premisa and to not commit nor permit any ~vaste thereof. # 8. To comply with all laws, ordinances, regulations, covenanu, conditions and restrictions affecting~ the premises, and not ~ to suffer or permit any ~iolation thereof. - 9. I[ Mortgagor fails to pay any claim, lien or encurnbrance which is superior to this mortgag~, or, when due, any taz or # assessment or insurance premium, or to keep the premises in repair, or shall commit or permit waste, or if there be commenc~d ~ any action or proceeding at(ecting the premises or the title t6ereto, then Mortgagee, at its option, may pay said claim, Iien, encum- ~ brance, tax, asseument or premium, with right of submgation thereund~r, mav make such repain and tate such st~ps as it deems € advisable to prevent or cure sach waste, and may appear in any such action or proceeding and retain counsel therein, and tai~e s iuch action therein as I?iortgagee dcems advisable, and for any of said purposes Mortgagee may ad~-ance such sunu of money, including all costs, iees and other items of ezpense as it deems necessary. Mortgagee shall be the sole judge of the legality, validity and priority of any :uch daim, lien, encumbrance, tax, asscssment and premium, and of the amount necessary to be paid in satisfaction thereof. I?iortgagce shall not be htld accountable for any delay in making any snch payment, which dclay may ~ result in any additional interest, cost, charges or expense otherwise. i 10. Mortgagor will pay to I?tortgagee, immediately and without demand, all sums. of money ad~•anced by ~fortgagee pursu- 1 ant to this mottgage, together with interest on each such ad~•ancement at the rate of ten per cent. (107~ ) pcr annum, and all : : such sums and interest thereon shall be secured hereby. t I1. Alt sums ot money securtd hereby shall be payable without any relief wfiat~~•er from any vaiuation or appraisemrnt laws. : 12. if detault be made in payment of at~y instalmtnt of principal or interat of said note or any pan thereof when due, or ~ in pay-ment, when due of any other sum secured hereby, or in pertormance o[ any o[ Mortgagor's obligations, tovenants or f agreemenb hueunder, a11 of the indebtedness secured hereby shall become and be immediately due and payable at the option of ` Mortgagee, without notice or demand which are hereby expreuly waived, in which ~vent :lfortgagee may a~•ail itself of all rights i and remedies, at law or in equity, and this mortgage may be foreclosed with a11 righu and remedies afforded by the laws o[ ~ Florida and Mortgagor shall pay all coets, charges and expensa thereof, including a reawnable atto~ney's Lee. eoRK 23y PAGF2328 _ ~ _ ~ . _ ..a;X"~r.Y._^E4~.+._. ._,r. ....r-.... . .