HomeMy WebLinkAbout1868 This mortgage is made. however. subject to the following covrnants, conditions and agreements:
FIRST: That the mortgagor hereby agrees and covrnants to pay the interest and principal hereby secured promptly
when>due and if default be made in any part thereof, or in the payment of any other monies hereby secured, thrn the
same shall. without demand if mortgagee shall elect, become due and payable at once and the mortgage may be foreclosed
in the manner provided by law. _
SECOND: That the mortgagor agrees to pay u the same become due and payable all taxes, usessmrnts, and other
charges imposed by law (including ditch, canal, reservoir, or other water charges, taxes, or asseumrnts) upon said
premises or any part thereof including the mortgagee's interest therein and upon this mortgage or the note or indebtedness
secured hereby. provided that should the amounts paid for the mortgagee under this ~angraph for such taxes, assessments
and other charges together with the interest on the indebtedness exceed the highest interest rate permitted by law on the
indebtedness thrn owing, mortgagor shall not be liable to pay any of such excess over the highest lawful rate- In the event
of the pasuge, after the date hereof, of any law by the State of Florida, deducting from the value of land for the purpose
of taxation any lirn thereon or ~hang~ng in any way the existing laws for the taxation of mortgages or debts secured by mort-
gage for state or local purposes, or the manner of the collection of any such taxes, so as to affect this mortgage, the holder of
this mortgage and oft a debt which it secures, shall have the right to give six (6) monthi written notice to the owner of said
land cegaunng the pavmrnt of the rntitr indebtedness secured hereby, and it is hereby agreed that if such notice be given the
said indebtedness shall become due, and collectible at the expiration of said six (6) months.
THIRD: That the mortgagor agrees to pay all other debts that are now or may become liens upon or chuges against
said premises, and not to permit any lien of any kind to accrue and remain on uid premises, or the improvements thereon,
which might take precedence over the lirn of this mortgage. The mortgagor further agrees not to create any lien on said
premises junior hereto unless the person entitled to the benefits thereof shall have agreed that the time for the payment of
the indebtedneu hereby secured and the manner and amount of ppaaymrnt thereof and the benefits of the security afforded
hereby ma~,without consrnt of wch person and without any obligation to give notice of any kind thereto, be extended,
teextrnded. ucelented, susprnded and refunded on any terms whatsoever without in any manner affecting the priority
of the lirn hereby created u security for the payment of the indebtedness secured hereby or any obligation substituted
therefor or iswed to refund same.
FOURTH: That the mortgagor agrees to keep said premises and improvements thereon in good condition and repair
and not to corrtmit or suffer waste thereof; to operate all lands, whether improved pastures, orchards, grazing, timber, or
crop lands, in a good and husbandmanlike manner in ucordance with accepted principles of sound agricultural and forestry
practices; to take all reasonable precautions to control wind and water erosion: to fert~l~ze improved pastures, if any, where
~j necessary to maintain a good stand of desirable grasses; to protect orchards and timber, if any, by reasonable precautions
against loss or damage by 5re including the maintenance of appropriate Ere breaks; and neither to remove nor permit the
removal of any timber, buildings, oil, gu, mineral, stone, rock, clay, fertilizer, gravel or top soil without the prior writtrn
f consrnt of the mortgagee. The mortgagee shall have the right to inspect the mortgaged property at such reasonable times
and intervals as the mortgagee may desire, to determine the mortgagor's compliance with the covenants contained in any
clause of this mortgage.
~ FIFTH: 'I'Fut the mortgagor agrees to procure, maintain and deliver, premiums paid, to the mortgagee policies of
h insurance against such hazuds on the buildings now or hereafter located on uid premises as the mortgagee may from time
to time require, in such companies and in such amount and form and with such loss payable clauses u shall be satisfac-
tort' to the mortgagee. The mortgagee is authoriud to assign and deliver said policies to any purchaser of this mortgage or
to the purchaser of uid premises at any foreclosure sale. In event of loss the mortgagee is expressly authorized and em-
powered to settle or compromise claims under uid policies, and the proceeds from said policies as well u any other policies
procured by the mortgagor shall be aid to the mortgagee who at its sole discretion may apply same or any part thereof on
ucount of the indebtedness secured hereby whether or not thrn due and payable, or may apply the same or any part thereof
towards the alteration, reconstruction or repair of said buildings, either t~ the portion damaged or any other portion thereof,
or release same to the mortgagor. Such application or release shall not cure or wai.•e any default or notice of default hexe-
s under or invalidate any act done pursuant to such notice.
SIXTH: That in the event the mortgagor shall fail to procure, maintain and deliver the insurance policies, premiums
prepaid, or to pay, u the same become due and payable, any tax or assessment imposed by law upon said premises or any
part thereof, or the note, or indebtedness secured hereby, or to pay an}. lien, claim or charge against-such premises which
might take precedrnce over the lien of this mortgage or to comply with the provisions of paragraph Fourth hereof, the
~ mortgagee may, without notice or demand, insure any of the buildings and pay the cost of such insurance and pay any of
uid taxes, assessments, liens, claims and chuges. or any part thereof, or redeem from the sale of said premises for any
K taxes or assessments (irreguluities in the levy or imposition of any tax or assessment being expressly waived), or redeem
from the sale of said premises resulting from the rnforcement of any such lien. claim or charge, or expend such sums as
may be necesurv to correct the failure of the mortgagor to comply with the provisions of said paragraph Fourth. and the
mortgagor hereby agrees immediately to repay to the mortgagee, without notice or demand, any sums so paid with interest
thereon at the same rate u specified in the note secured hereby nn the principal thereof after default and maturity, and all
sums paid by the mortgagee with interest shall become a part of the indebtedness secured hereby, and in default of
immediate repaymrnt thereof by the mortgagor the whole indebtedness secured hereby shall at the option of the mortgagee
y become due and payable forthwith without notice.
SEVENTH: That in the event the mortgagor sells or conve s said premises, or iny- portion thereof, or, if the
mortgagor is a corporation, sells, trades or disposes of more than 9...:...efa of its corporate stock to persons other than
- the presrnt owners, their hats and qualified directors prior to the time the indebtedness secured hereby shall have been
reduced to 3..-...-.• thrn, at the option of the mortgagee, the entire uid indebtedness shall become due and payable.
EIGHTH: That the mortgagor agrees to pay on demand all expenses and attorneys' fees incurred by the mortgagee by
x reason 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, including any expense incurred in procuring or continuing abstracts of titk and titk
policies and searching the records for the purposes of wch litigation, shall bear iatettestvf,the same ~tNiA ified in the
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