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HomeMy WebLinkAbout0488 And udti! full payment thereof, or any extensions or renewals thereof, in whole or in part, and paymeat ot aU other indebted- neu or liability that may becoma due or owing hereuader and sccured .hereby. shall faithtuUy and rompUy comply v?•ith aad pertorrn eacb aad every other coveaant and provisioa Aecein on the part ot ~lortgagor tdbe camp~~ ~vith~pd performed. then these presents shall be void. ~ ~ ~ -Aad ~iortgagor hereby covenaata u toUows: ~ , Z. To pay~ v?ith taterest~ said note aad any exteasions or renewals thercot, in whole or in par1, Whether the K•hae amuunt s1~a11 ha~e been advanced to 1he 111ortgagur at the dale hereot or at a later d:ie, and all other indcbtedness or lia- bilit~~ hereby aecured, howerer created or evideoced, p~mpUy H~hen ti~e same respecti~ciy becomes due; to pay anci/or dis- char~e any other amounts. indebtedaess and/or liability that ma~• in thr future become due, oH~ing or outstaading, from lliort- ga~ur lo ~lort~;agee. however the same may be or may have been cuntracted, e~•idehced or accrucd; and that this mortgage shall secure alt such amounts, indebtedness and liability together ~~ith any other ad~ances received by the 1?iortg~gor irom ~Stortgagee during the existence of this mort~age and an~• reac?.a! or rcnewals ot note or notes for said present or future indebtedarss provided, however~ that said advances be made withia tWent3• (20) years from the date hereot end that 1he total unpaid balance secured hereby at any one time shall aot exceed 5 ~~,~0•~0 pius interest thereon and in contormity . with Sec. 697.04 ot Florida SUtutes; to pay all taxes and assessments levied or assessed upon said property be[ore the same become delinquent, and in ao event to permit said property. or ana• part thereof. to be~sold tor non~~aymeat of taxes or assess• ments; to keep said property in good repair and to permit. commit ur sutfer ao waste. impairmeat or deterioration thereof; to comply stricUy v?~t6 all lavrs aad governmental regulatioas and rules atfecling said pmpert~• or Its operation; to pay all taxes that may be tevied or assessed oa this mortgage or •he moneys sccurt•d h~reby, provided that in no e~ent s6all the amount paid on account of such taxes. together with the interest paid on the iadebtedness secured here~y exceed the maxi- mum iaterest rate allowed Dp law; To permit no mechaniNs or other liens arising either b~ contract or by law which might be prior in lien to thc liea hereof, to be created or resl upon a~l or any part of aforesaid premises or pmperty for ten da}s a•ithout the s~me being paid or releascd, and discharge of said premises and propcrt~• thcre[rom procured. 3. That in case this mortaage aad note secured hereby~ or either oi them or any renc~4~ai or extension thereof, shall be placed in the hands oi an altorney for collection by reason oi the detault of Mortgagor~ o~•_ his heirs or assigns, they do cove- nant and agree to pay alt costs and expenses of such collection, irlcludeng a reasonabte attorne}'s fce whMher collection be by loreclosure or otherwise and if such collection shall be by foreclosure and an app:at or appcals in such action shall ensus, \Iortgagor and his heirs~ or assig:~s, agree to pay all the costs. including a reasonable altorne~•'s tee incurred in the appeat or appcals in connection with such coltection. . 4. That if any action, or proceedings; shali be commeaced by aay person other than the holder of this morigage (ea- cept aa action to foreclose this mortgage or to coilect the debt secure~ hereby) to which action, or proceedings. the holder of this mortgage is made a paKy, or in whicd it shall become necessary to defend. or uphold, the lien of this mortgage, alt sums paid by lhe holder of this mortgage for the expense oi aay iitlgation to prosecute. or detend the rights and liens ereated by this mortgage (inclucling reasonable counsel fees for services both in the Triat Court and in the Appellate Court), shall be paid by 1he ~tortgagor~ together with interest thereon at the maximum legal rate o[ interesl, and any such sum, and the interest thcreon, shall be a claim upon said premises. attaching or accruing, subsequent to the lien ot this mortgage, aad shall bc dcemed to be secured by this mortgage and by the note that it secures. In any action or procecding, to foreclose this mortgage, or to recover, or collect, the debt secured thereby. the provisions of law respecting the reco~ery oi casts, disburse, ments and allowances, other than ~counset fees~ shati prevail, unaffected by this covenant. ~ 5. rlortgagor further covenants to keep the buitdings, atructures and oWer impmecments now or hereatter ereeted or ~ placed oa We premises and conatetuting a part of tbe mortgage security constanUy insured against aU loss or damage by ; , f~:e in a sum not iess than i fu11 insurable Vd~U6 . and against all loss or damage by tornado or windstorm in a S~m or noc ieu u,an s fuli insurable value , iit Insurance companies satisiactory to ~ortgagee (but ~iortgagee shall not be liable for tbe insolvency or irresponsibility of any such compaaies), aud to prnmptly pay all premiums ior such insurance. the policiea reptesenting whicb ahaA be delivered to and held by ~iortgagee as additional seaurity for tde payment ~ of the indebtedness aad liability secured hereby. All sua~s recoverable on aay such insurance policies shall be made payable io ~tortgagee by a loss payable clause satistactory to biortgagee, to be attached to such po!icies. In the event any such in- surance poticy shall eatpire during We life hereof~ 1liortgagor agrees to proc~ue and pay for renewal thereof, with the above requirements, replacing such expired policy. and deposit the same with \iortgagee. together with receipts showing pay ment in full of premiums therefor. ten days prior to the expiratioa date of such policy. In case of loss ~torteageE is hereby suthor- i ;zed to adjust and seltle any claim under any such polie~ ah~i ~Jiortgagee is authorized to coliect and receipt for any sach insurance money ~nsi to apply the same. at 3ia-tgagee's option, ia reduction of the inuebtedness hereby secured, whether ~ due or not. or to allow Aiortgagor to use such-insuran;e mone~•, or any part t6ereof, in repairing the damage or restoring the i imprnvements or other property without afEecting the lien hertof for the full amount secured hereby. ' 6. It is further covenanted that ~iorigagee map (but shali not be obligaterl so to dol advance moneys that shouId have been paid by Mortgagor hereunder in order to protect the lien or security hereof, and ~liortgagor agrees without demand ' to forthwith repay such moneys, which amount shall bear interest from the date so advanced until paid at the rate of 10 j per cent per annum aad shal! be considered as so much additional indebtedness secured hereby; but no pay~ment by blortgagee ' # oi an~ such mone~s shall be deemed a waiver of biortgagee's right to declare the principal sum due hereunder by reason of . the default or violation of Mortgagor in any of his covenants hereunder. ~ . • 'j llfortgagor farther coveaants that granting any extension or extensions of the time of payment of any part or all of the ~ total indebtedness or liability secured hereby, or taking other or additional security for pa~•ment thereof, shall not affect this mortgage or the rights of riortgagee hereunder, or operate as a reiease from any tiability upon any part of ihe indebtedness hereby secured, under any covenant herein contained. 7. As further and additionat security for the performance of the terms and conditions of this mortgage, and for the payment of the amounts stipulated in the note secured thereby~ the 1liortgagor hereby agrees that in case ot default in any of the payments stipulated ia said aote, and so long as such default continues, or in the event that 1liortgagor is in default under aay o[ the provisions of this mortgage, the ~liortgagec is hereby authori2ed and empowered, by its servants, agents, or attorneys. to enter on the mortgaged premises and to collect and receive the renls, incomes and profits therefrom. and to apply the same to the payment of amounts due on said note. And for this purpose, Mortgagor hereby absolutely assigns, ; transfers and sets over to 1liortgagee the renta accruing.from said premises during the period of such default. Nothing con- taiaed in the foregoing provision shall impair or afiect any right or remedy which the hiortgagee might now or hereafter ~ have, werc it not for said provision but the remedy therein given shatl be in addition to any others which the Atortgagee may have hereuader. ~ 8. If forecloswe prceeedings of any second mortgage os any second Uust deed or lien of any kind shall be instituted, ~ the Mortgagee may at ita option immediately, or thereafter, declare this mortgage and the indebtedness secured hereby due ~ and payable. ~ 9. That in the event the premises hereby mortgaged, or any part thereof, shall be condemned and taken for public use under the power of eminent domain. the 1?iottgagee shalt have the right to demand that all damages awarded for the taking of or damages to said premises shall be paid to the Mortgagee up to the amount then unpaid on tLis mortgage, and the obliga- tion secured hereby, and may be appiied upon t6e payments last payable under t6is mortgage and the obligation secured a hereby. ~ 10. It is further covenanted and made of the essence hereof that in case of default for five days in the performance ot any of tt~e covenants herein on tbe part oi Nortgagor, then it shall be optional with ~iortgagee to consider all unmatured ~ indebtedness or liability secnred hereby, and accrued interest thereon. as immediately due and payable, wiWout demand and without notice or declaration of said optioa, and l~iortgagee shail have the right torthwith to institute proceedings to enforce the collection of all moneys secured hereby and/or to foreclose the lien hereof. il. It is turther stipulated anc~ a~~reed b? and behccen thr parties ihat th~ Jio.tea~ee chall ha~e the right to exercise any opticn or privilege herein given or reserved and to enforce an~• duty of the ~Iortgagor at any time without further or ~ uther notice re~ardless of any prior wai~er by l~iort~agee or default of tifortgagor or dclay b< <[ortgagee in exercising aoy nght, option, er privilege or enforeing such duty ot :?Iortgagor, and no wai~•er b~• ~Iortgagee of default of ~Iortgagor nor de- ~ lay of Diortgagee in exercising any r~ght, privilcge. or option or in enforcing an~ duty ot liortga~or stiall bc deemed. held, or ~ cunstrued to be a waiver ot any of the terms or provisions of this mortgage or of aoy subsequen~ default. ~ ~287 ~ 486 . , f ~•r~-$..~ 5 ~t i~ . . - r-{~"' . . ' "~e' "y„ `~v~s~`T4 ,t^ r' " f ,^TS ~ ~ " . ~ *Z'~."x~..~"LS~ ~~~.'k"}wr'h"c . . ',~~b~~o-~ "~'~'>_-`.3a,~= -i~~y' ' s,.%~~_