HomeMy WebLinkAbout2045 PROVIT~ED ALWAYS, anti these pn~srnts are up~•n thrs~ exprc•xs conditiuns, that U At~~rtgugor tihail promptly pay to
Mortgagee _ one certain promisory note_ . ,even date herewith, made by rlortgag_Or
in the principal amount of $36,000.00, payable in monthly installments of $410.00,
including interest at file rate of 8.50% per annttm on the sums remaining from time to
time unpaid, and providing that if not sooner paid the unpaid balance will be due and payable
p1~IjiiK1R~ lcgriWc~c on January 1, 1989, payable to the order of the Mortgagee,
at PL 0. Box 1356. Winter Park. Florida 32790
And until full payment thereof, or any extensions or renewals thereol, in whole or in part, and payment of all other indebtedness
or liabUity that may become due or owing hereunder and secured hereby, shall faithrirUy and promptly comply with and perform
each and every other covenant and provision herein on the part of Mortgagor to be complied with and performed, then these
presents shall be void.
And I?tortgagor hereby covenants as follows:
To pay, aeith interest, said note__________and any exlensions or renewals thereof, in whole or in part, and all other
indebtedness or liability hereby secured, however created or ea•idenced, promptly when the same respectively becomes due; to pay
and/or discharge any other amounts, indebtedness and/or liability that may in the future became due, owing or outstanding from
:Mortgagor to Mortgagee, hoavever the same may be or may have been contracted, videnced or accrued; and that this mortgage
shall secure all such amounts, indebtedness and/or liability to the extent of ~___n~a , in addition to all other amounts
due or to become due hereunder as herein specified; to pay all taxes and assessments leaned or assessed upoa said property before
the same become delinquent, and in no eaent to permit said property. or any part thereof, to be sold for non-payment of taxes or
assessments; to keep said property in gbod repair and to permit, commit or suffer no waste, impairment or deterioration thereof;
to comply strictly avith ail laws and governmental regulations and rules affecting said property or its operation; to pay all taxes
that may be levied or assessed on this mortgage or the moneys secured hereby, provided that in no event shall the amount paid
on account of such taxes, together with the interest paid on the indebtedness secured hereby, exceed the maximum interest rate
allowed by law; to permit no mechanic's or other liens arising either by contract or by law, which might be prior in lien to the
lien hereof, to be created or rest upon all or any part of aforesaid premises or property for ten days without the same being paid
or released, and discharge of said premises and property therefrom procured; and to pay all costs and expenses incurred or paid
by Mor!gagee in collecting the moneys hereby secured or in enforcing or protecting the rights and security of the Mortgagee
hereunder, including reasonable attorneys' fees, in the event said mortgage and note_____or other evidence of liability be
placed in the hands of an attorney for collection.
1liortgagor further covenants to keep the buildings, structures and other improvements now or hereafter erected or placed on
the premises and constituting a part of the mortgage security constantly insured against all loss or damage by fire in a sum not
less than ~_in~urahlp val gyp, and against all loss or damage by tornado or windstorm in a sum of not le_c~ than
{ full insurable value pa g~ gagee shall not be liable for the
S in insurance com Hies satisfacto to bfort ee (but Mort
insolvency or irresponsibility of any such companies), and to promptly pay all premiums for such insurance, the policies
representing which shall be delivered to snd held by Mortgagee as additional security for the payment of the indebtedness and
liability security hereby. All sums recoverable on sny such insurance policies shall be made payable to bfortgagee by a loss
payable clause satisfactory to Mortgagee, to be attached to such policies. In the event any such insurance policy shall expire
k -during the life hereof, Mortgagor agrees to procure and pay for renewal thereof, with the above requirements, replacing such
expired policy, and deposit the same aaith Mortgagee, together with receipts showing payment in full of premiums therefor, ten
days prior to the expiration date of such policy. In case of loss 1lfortgagee is hereby authorized to adjust and settle any claim
1 under any such policy and Mortgagee is authorized to collect and receipt !or any such insurance money and to apply the same,
at Mortgagee's option, in reduction of the indebtedness hereby secured, whether due or not, or to allow Mortgagor to use such
insurance money, or any part thereof, in repairing the damage or restoring the improvements or other property without affecting _
the lien hereof for the full amount secured hereby. _
It is further covenanted that 11Sortgagee may (but shall not be obligated so to do) adaance moneys that should lraae been
~ paid by Mortgagor hereunder in order to protect the lien or security hereof, and I?fortgagor agrees without demand to forthwith
repay such moneys, which amount shall bear interest from the date so advanced until paid at the rate of 8 • SO per cent, per
annum and shall be considered as so much additional indebtedness secured hereby; but no payment by Mortgagee of any such
~ moneys shall be deemed a waiver of Mortgagee's right to declare the principal sum due hereunder by reason of the default or
~ violation of Mortgagor in any of his covenants hereunder.
Mortgagor further covenants that granting any extension or extensions of the time payment of any part or all of the total
indebtedness or liability secured hereby, or taking other or additional security for payment thereof, shall not affect this mortgage
- or the rights of Mortgagee hereunder, or operate as a release from any liability upon any part of the indebtedness hereby secured,
under any covenant herein contained.
thirty
It is further covenanted and made of the essence hereof that in case of default for}8{~f days in the performance of any of
the covenants herein on the part of Mortgagor, then it shall be optional with Mortgagee to consider all unmatured indebtedness or
~ liability secured hereby, and accrued interest thereon, as immediately due and payable, without demand and without notice or
declaration of said option, and Mortgagee shall have the right forthwith to Institute proceedings to enforce the collection of all
moneys secured hereby and/or to foiecloae the lien hereof.
It is further stipulated and agreed by and between the parties that the Mortgagee shall have the right to exercise any option
r or privilege herein given or reserved and to enforce any duty of the Mortgagor at any time without further or other notice
regardless of any prior waiver by Mortgagee or default o! 1?tortgagor or delay by Mortgagee m exercising any right, option, or
~ privilege or enforcing such duty of Mortgagor, and no waiver by Mortgagee of default of Mortgagor nor delay of Mortgagee in
~ exercising any right, privilege, or option or in enforcing any duty of Mortgagor shall be deemed, held, or construed to be a waiver
o! any of the terms or provisions of this mortgage~~or((~~of any subsequent default.
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