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HomeMy WebLinkAbout0098 PROVIDED Al.WAYS, that if Mortgagor shall pay Morigagee !he sums spccified in that certain promissory note substantially copicd or identified bclow. to•wit: ,'Vo. S- 2~~5~~ - Qg Delray Be, c~_ , Flarida. , 19 On demand a/ter dRte, /or value received, we ~?roinise to ~My to the order oJ ~IN V i f TWENTY-THREE TtiOUSAND FIVE NUND - DUI,I.ARS. a~ Delray Beach . , Flurida : KTIP"int~il3~T11?r~~w.o1.Vw?+w~+~ /rn~t"-;• ~ . r•'` --m~iF-/'al~TP~~~*'~"P~T+~ssen~w ~idladflp The +naker and endorser o/ tkia wote Junher a~ret ra d~~e ,~ot,ice' no}~'~~r , nt ~nd proltu; and iw c~se auit ilkall 6~ brought /or rhe ~ollectioa he?to/, or the sawe h~s to b~ ~o/?ert u dawrsnd_o/ en ~lto+~+~ ,4ro ~r ~eosonuble auorney's jeei /o? 1 m`fcin~ suck collection. De ene~TiRA~lt"pRtnRAt!'fo'bMffRMl.cq ~ ~ !xr-prrakftmyr.-p~'eblfr7?~t annRairT - f: ~ . i . ~ (Seal ) nue On demand . 19 . ~ ~ (Seal) SEMI/fOLE FORM I20 er and shail also perform and comply with all the terms and conditions of this mortgage, the estate hereby created shall cease and be null and void. TERMS ANU CONUITIONS: MORTGAGOR does hereby covenant and agree: 1. TAXES AND ENCUMBItANCES To promptl~ pay the taxes and other governmental levies, judgments, liens. and other encumbrances which now or hereafter appear to be a lien on said property (Mortgagee shall be the sole judge o( the legality of such encumbrances and the amount necessary to be paid in discharge thereof;) and to deliver to Mortgagee receipts for the payment of the preceding year's taxes (prior to March I S annualiy) and other governmentat levics (within ninety from due date.) 2. INSURANCE To keep the improvements and personal property now existing or hereafter on said pren~- ises insured against toss by fire. hazards included within the term "extended coverage" and such other haiards as the Mortgagee may require, including f]ood insurance. The insurance shall be in such amounts and for periods as the Mortgagee may require; provided, that the amount of such coverage shall never be less than the amount required to ' pay the sum secured by this mortgage or to comply with any co-insurance clause contained in the insurance poficy. The insurance carrier providing the insurance shall be chosen by the Mortgagor subject to the appro~•at of the Mortgagee. All insurance policies and renewals thereof shail be in a form acceptable to the.l~lortgagee and shall include a standard ( mortgage clause in favor of and in a form acceptable to the Mortgagee. In the event of a loss, the htortgagor shall give i prompt notice to the insurance carrier and the 1~lortgagee. and the Mortgagee may make proof of loss if not made - i promptly by the Mortgagor. The Mortgagee shall have the option to receive and apply all insurance proceeds on ac- ~ count of the indebtedness hereby secured. or to permit the Mortgagor to apply such proceeds toward restoration af the improvements, provided that such restoration or repair is economically feasible and the security oi this mortgage w•ould not be impaired. Unless the Rlortgagee and the Mortgagor otherwise agree in writing, any such application of i proceeds to principal shall not extend or postpone the due date of the mortgage payments required under this no~e and 1 - mortgage or change the amount of such installments. If title to the property is acquired by the A•tortgagee, all right, ti- ~ tle and interest of the Mortgagor to any insurance policies and to the proceeds thereof (to the extent of the sum secured by this mortgage immediately prior to such sale or acquisition) resulting from damage to the pr~perty prior to the sale or acquisition shaQ pass lo the Mortgagee. 3. 1NASTE To kecp the mortgaged property in its prescr.t condition. rcasanablc wear and Icar cx- cepted and to commit or permit no waste of the mortgaged properly. 4. CONVEYANCES IUNtOR LI~NS AND ADDITIONS To permit no foredosure or execution proceedings to be initiated on any junior lien and, in any evcnt, shall immediately notify Mprlgagee in writing of any litigalion affecting the mortgased property. The ~i- tte to the mortgaged property shall not be transferred without the written consent of Mortgagee. In any evcnt, - how~ever, Mortgagee may deal wilh successors in inlerest in the same manner as with ;~tortgagor and may iorebcar to sue. extend time for payment of the debts, or otherwise act without affect~ng the liability of the ~tortgagor hereunder. To erect no new or additional struc~ures and make no addieions or alterations, as well as no demolition. dismanteling or removing any of the existing mortgaged property without the prior written consent of Mortgagee. S. UTIGATION ~ EXPENSES To pay all the expenses, including rcasonable attorncy's fees resulting from Mortgagor's failure to promptly perform the terms and conditions of said promissory note and this mortgage or resulting from set- ~ tling or removing any cloud on the title of the mortgaged property purporting to be superior to the lien of this mort- gage or otherwise; expenses shall include aitorney's fets on appeal. t~ k ~ ~ ~r~UK ~.~7J fACF _ ~ 1~;~.~ ~ _ _ - _ - T _ _ _ n= x ~;,f~ ~ ~ ; ~c ~r$.. ~ , _ ~ .