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HomeMy WebLinkAbout0938 . . ~ , ~ ' } ' 1 This mottgage is made, however, subjett to the following covrnants, conditions and agreemt~ts: ~ FIRST: 'Ihat the modgagor hereby agrees and covrna~ts to pay the interat and princiQal hereby sccured promptly w~hen due znd if dtfault be made in any pact thereof, or in the payment of any othcc moma hereby secured, then tht ume shati, without demand if mottgagte shall elect, becom~ due and payable at once and the mortgage may be ~orcdosed in the manner pmvided by law. SECOND: That the mortgagor agcees to pay u the same bccome due and payable all taxa, asscssments, and othec ` ' chuges imposcd by law (including ditch, canal, reservoir, or other water charga. taxts, or assessmcnts) upo~ said ; premisa or any pad thereof including the mortgagee's interest th~rein and upon this mortgage or the note or indebtedness sccviced hueby~ pcovided that should the amounts paid for the mortgagee uader this ~aragtaph for such Wca. assessments and other charges together with the interat on the indebtedness exceed the highest mterest ntepe rmitted by law on the indebtednas then owing, mortgagor shall not be liabk to pay any of such excess o~er the highest lawful rate. In the event of the pusage, after the date hereof, of any law by the State af Florida, deducti~g from the ralue of land for the purpose of taxation any lien thereon or chang~n~ in any way the existing laws for the taxation of mortgages or debts sccured by mort- gage for state or local purposes, or the manner of the collection of any such taxes, so as to aHat this mortgage, the holder of this modgage and of tfx debt which it saures, shall have the right to gi~•e six (6) months' writtrn notice to the owner of said ~ land requiring thepa vment of the ~ntirr indebtcdness x~cuced hereby, and it is hereby agreed t}ut if such notice be gi~rn the said indebtedness shall become due. and collcctible at the expiration of said six (6) months. ~ THIRD: That the modgagor agrees to pay all other debts that are now or may become lirns u~on or chargcs against r said pcemises, and not to perm~t any lien of any kind to aarue and remain on said premises, or the ~mprovements thereon,_ which mi~ht take precedence over the lien of this mortgage. 'I~e mortgagor further agrees not to crrste xny lien on said premises Junior hereto unless the person entitled to the bene6ts thereof shall ha~~e agreed that the time for the paymcnt of the indebtedness hereby secured and the manner and amount ofpa yment thereof and the benefits of the sccunty a(forded hereby maq, without conxnt of such person and without any obligation to give notice of any kind thereto, be extrndcd, reextended. ucelerated, susprnded and refunded on any terms whatsoever without in any manner af~ecting the priority of the lirn .hereby creatcd as security for the payment of the indebtedness secured hereby or any obligation substituted thecefor or issued to refund same. FOURTH: 17?at the mortgagor agrees to keep uid premises and improvements thereon in Rood condition and repair and not to commit or suffer wute thereof; to operate all lands, whether improved pastura, orchards. gruing, timber, or crop lands, in a good and husbandmanlike manner in accordance with acce~ted principles of sound agricultunl and foratty pract~ces; to take all reasonable precautions to control wind and water eros~on: to fert~l~ze impro~ed pastura, if any, whete ' necasarp to taiintain a good stand of desirable grasses; to protect orchards and timber, if any, by reasonable praautions Ik against lou or damage by fire including the maintenance of appropriate fire breaks; and neither to remo~e nor ptrmit the ; remova! of any timber, buildings, oil, gu, mineral, stone, rock, clay, fertitizer, gra~•el or top soil without the prior writtrn j consrnt of the mortgagee. Tne mortgagee shall ha~e the right to inspect the mortgaged property at such reasonable times ~ and intervals u the mortgagee may desire, to determine the mortgagor's compliance with the co~enants contained in any - clause of this mortgage. ~ FIFTH: That the mortgagor aRrees to proc~re, maintain and deliver, premiums paid, to the mortgagee policies of insurance against such hazards on the buildings now or hereafter located on said premises as the mortgagee may from time ~ to time rcqu~re, in such companies and in such amount and for.rn and vvith such loss payable clauses as shall be satisfac- tory to-the mortgagee. The mortgagee is authorized to assign and deli.•er said policies to any purchaxr of this mortgaqe or to the purchaser of said premises at any foralosure sale. In e.~ent of loss the mortgagee is expressly authorized and em- powered to settle or compromise claims under said policies, and the proceeds from said policies as well u any other policia pronued by the moctgagor shall be paid to the mortj{agee who at its sole discretion may apply same or any part thereof on aaount of the i~debtedness secured hereby whether or not thrn due and pavable, or may apply the same or any part thereof towards thc alteration, raonstruction or repair of said buildings, cither t~ the ~rtion damaRed or any other ~rtion thereof, or release same to the mortRagor. Such application or retease sh31! not cure or wai.•e any default or notice of default here- undec or invalidate any act done pursua~t to such notice. j S1XTH: Thzt in the event the mortgagor shall fail to procure, m~intain and deliver the insunnce ~licies, premiums ptepaid, or to pay, as the same becomc due and papable, any tax or assessment imposed by law upon said premises or any ~ part thereof, or the note, or indebtedness secured hereby, or to pay any lien, daim or char~qe against such premises which ~ might take precedence over the lien pf this mortgage or to comply a•ith the pro~•isions of paraRraph Fourth hereof, the ~ mortgagee mav, without notice or demand, insure any of the buildings and p~y the cost of such insurance and pay any of ~ said taxa, uses.unents, liens, claims and charRes. or anv part thereof, or redecm from the sale of said premises for any ~ taxa or assessments (irregularities in the levy or imposition of any tax or assessment beinR expressly waived), or redeem ~ From the sale of said premises resulting from the enforcement of anv such lien. clxim or charqe, or expend such sums u ~ may be necessarv to correct the failure of the mortqagor to compl~ with the pro.•isions of said paragraph Fourih. and the ~ modgagor hereby agrees immediately to repay to the mortJ;aqee, without notice or demand. anv sums sa ~aid with interest ~ thereon at the ume rate u specified in the note secured hereby on the principal thereof aftrr default and maturito, and all sums paid bv the mortgagee with interest shall become a pirt of the indebtedness secured herebo, and in default of immediate repayment thereof bq the mortgagor the whole indebtedness setured hereby shall at the option of the mortgagee ~ become due and payable forthwith without notice. SEVEIVI'H: That in the event the mortgagor sells or conveys said premises, or any portion thereof, or, if the ~ mort r is a co ration, sells, trada or dis se~ of more than ......5.0_.... ~c ~ gago rpo po °jo of its corponte stock to persons other than the present owners, their heirs and qualibed directors prior to the time the indebtedness sccvred hereby shall have been 9 ~ reduced to =.Q...QQ..........., then, at the option of the mortgagee, the entire uid indebtednas sh~ll become due and payable. ~ EIGHTH: 'il~at the mortgagor agrees to pay on dem~nd all expenses and attorneys' fees incurred bq the moctgagee bp teuon of litigation or legal proceedings in which the mortgagee is made a party to protect the lien of this mortgage and ~ all moneys so paid by the mortgagee, ~ncluding any ex~xnse incurred in procuring or continuing abstracts of tide and titk ~ policia and searching the records for the purposes of such litigition, shall brar interest at the same rate u speci6td in the ~ p ~ E 2~0 P,1CE 9~ . - _ _ ; - . ~?^~.~a~'~?'.ix'___,n"_~m_~.,r_.~,~.__ ~~Y a ~~A~.