HomeMy WebLinkAbout0265 Assoeiation shall have the option to receive and apply the same on -
account of the indebtedness hereby secured, or to permit the mort-
gagor to receive and use it, or any part thereof, for other purposes,
without thereby waiving or impairing any equity, lien or right under
and by virtue of ~his mortgage; and the Association may place and
pay for such insurance, or any part thereof, without waivinq or
affecting its option to foreclose, or any right hereunder, and each
and every payment so made stiall bear interest from the date thezeof
at the rate of twelve per cent (12$) per annum.
4. To permit, commit, or suffer no waste, impairment or +
deterioration of said property, or any part thereof, and upon the t
failure of the mortgagor to keep the improvements on said property
in good condition of repair, the~Association may demand the immedi-
ate repair of said improvements or the immediate repayment of the debt
hereby secured, and the failure of the m^rtgagor to comply with said
demand of the Association for a.period of thirty (30) days, shall con- ;
stitute a breach af~this mortgage, and, at the option of the Association, ;
immediateZy mature the entire amount of principal and interest hereby =
secured, and the Association, immediately and without notice, may
institute proceedings to foreclose this mortgage and apply for the
~~~~~ntment of a Rece~vers as hereinafter provided; or the mortgagee
may make and pay for such repairs as in its discretion it may deem -
necessary for the proper preservation thereof, and the full amount of
such payments shall be secured by the lien of this mortgage and shall
at the option of the mortgagee be immediately due and payable, or pay-
able in such monthly installments as the mortgagee may determine.
5. To perForm, comply with and abide by each and every the
stipulations, agreements, conditions and covenants in said promissory
note and deed set forth. If any of the sums of mcney herein referrecl
to be not promptly and fully paid as the same severally come due and
payable, and such default continues for 30 days, or if each
and every the stipulations, agreements, conditions and covenants
of said promissory note and this deed, or either, are not duly
performed, complied with and abided by, the aggregate sum mentioned
in said promissory note shall become due and payable forthwith
or thereafter at the aption of the Association, as fully and
completely as if said aggregate sum of money was originally
. stipulated to be paid on such day, anything in said promissory
note or herein to the contrary notwithstanding.
6. To deliver to the Associatio~i on or before March 15th of '
each year, tax receipts evidencing the,payment of all lawfully imposed
taxes for the preceding calendar year; to deliver to the Association
receipts evidencing the payment of all liens for public improvements
within ninety (90) days after the same shall become due and payable,
and to pay or discharge within ninety (90) days after due date, any
and all governmental levies that may be made on the mortgaged property,
on this mortgage or note, or in any other way resulting from the ;
mortgage indebtedness secured by this mortgage.
7. Until default in the performance of the covenants and agree- ~
ments of this mortgage, the mortgagor shall be entitled to collect the
rents, issues and profits from the premises hereinbefore described,
but in case of a de£ault in any of the terms of this mortgage, or the
fili~ng of a complaint to foreclose this or any other mortgage encumher-
ing the within described property, the Association shall immediately
and without notice be entitled to the appointment of a Receiver of the
mortgaged propert}~, and of the rents, issues and profits thereof, with
the usual power of Receivers in such cases, and such Receiver may be `
continued in possession of the said property until the time of the
sale herE„~ under such foreclosure and until the confirmation of
such sale by the Court.
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FEE, PARKER & FEE. P. A. ~
ATTORNEYS AT LAW
POST OFFICE BOX f000
FORT PIERCE. FLORIDA S,4lf0 V6 {R~y~/]
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TELEPNON[s (~OO) 4a1-6020 D~IUIf FV ~ V tl~1/L