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HomeMy WebLinkAbout1183 10. FORECLOSURE OF JUNIOR LIENS. It foreclosure proccedings of any second mortgage or second trust decd or any junior liens of any kind should be instituted, the Mortgagee, at Mortgagee's option, immediately or thereafter may declare this mortgage and the indebtedness secured due and payable. I1. CONDEMNATION. That in the event the premises mortgaged, or any part of them, shall be condemned and taken for public use under the power of eminent domain, the Mortgages shall have the right to demand that all damages awarded for the taking of or damage to the premises shall be paid to the Mortgagee, up to the amount then unpaid on this mortgage and the obligation secured, and may be applied upon the payments last payable under this mortgage and the obligation secured. 12. PRESERVATION AND MAINTENANCE OF PROPERTY. Mortgagor agrees to permit, commit or suffer no waste, impairment or deterioration of the property, or any part o[ it or the improvements thereon at any time. The failure of the Mortgagor to comply with this covenant shag constitute a breach of this mortgage and, at the option of the Mortgagee, immediately mature the entire unpaid principal and interest secured. The Mortgagee. without notice, thrn may institute proceedings to foreclose this mortgage and apply for the appointment of a Receiver, as heretofore provided. 13. INSPECTION. Mortgages may make or cause to be made reasonable rntries upon and inspections of the Property. provided that Mortgagee shall give Mortgagor notice prior to any such inspection specifying reasonable cause therefor related to Mortgagee's interest in the Property. 14. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. if this Mortgage is on a unit in a condominium or a planned unit development, Mortgagor shall perform all of Mortgagor's obligations under the declaration or covenants creating or governing the condominium or planned unit developmrnt, the by-laws and regulations of the rnadominium or planned unit development. and constituent documrnts. If a condominium or planned unit development rider is executed by Mortgagor and recorded together with this Mortgage, the covenants and agreements of such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Mortgage as if the rider were a part hereof. 1 S. TRANSFER OF THE PROPERLY. That if conveyance should be made by the Mortgagor of the premises above described or any part of them without the written consent of the Mortgagee and/or without assumption in regular form of law by the grantee of the obligation to the Mortgagee created under this mortgage. then, at the option of the Mortgagee and without notice to the Mortgagor. aq sums of money secured shall become due and payable and is default immediately and concurrently with the conveyance, whether or not they are so due and payable and in default by the specific terms of this mortgage and the note secured thereby. 16. FITfURE ADVANCES. This mortgage is intended to be and is a mortgage to secure the payment of the promissory note described herein and to secure such future or additional advances as may be made by the Mortgagee. or Mortgagee's successors and assigns. at their option to the Mortgagor, or Mortgagor's successor in title, for any purpose, provided that all those advances are to be made within twenty (20) years from the date of this mortgage. or within such lesser period of time as may be provided hereafter by Law as a prerequisite for the sufficiency of actual notice or record notice of the optional future or additional advances as against the rights of creditors or subsequent purchasers for valuable consideration. The total amount of indebtedness secured by this mortgage may decrease or increase from time to time, but the total unpaid balance so soured at any one time shall not exceed the maximum principal amount of f~ 50.000.00 plus interest, and any disbursemrnts made for the payment of taxes, levies or insuranet on the property covered by the lien of this mortgage. With interest on those disbursements. 17. HUSBANDRY CLAUSE, ETC. The said Mortgagor further covenants and agrees for so long as all, or any part of the indebtedness secured hereby remains unpaid to preserve, maintain and care for the citrus groves upon the above described premises, such care and - maintrnance to include cultivating, spraying, dusting. pruning. fertilizing, watering, protettioa against damage by frost and fire, marketing of crops and replanting of trees when needed. all to be done in a husband-like manner and in aecordana with approved methods of grove culture. and agree not to top-work said groves without the writtrn consent of the holder of this Mortgage. provided further that upon the failure of the Mortgagor to fully comply with any or all provisions of the above covenants, the holder of the indebtedness secured hereby, in addition to all of holdtr's other rights and remedies for breach of covenants in this Mortgage contained. and in addition to holder's right. hereby expressly given, to declare a default upon the breach of any such covenant, may. at holder's option. take such action as it deems necessary to preserve, maintain and care for such premises for so long as all or any part of the indebtedness secured hereby is unpaid, and any reasonable expense incurred by bolder in so doing shall become part of the indebtedness secured hereby. and shall biome immediately due and payable and shall bear interest at the rate provided herein for matured obligations; however, it is expressly understood and agreed that the holder of such indebtedness is under rw obligation to so do, except at holder's own election. and failure on the part of such holder to take any action hereunder shall not constitute a waiver of further breaches of such covenants; it is further covrnanted and agreed by the said Mortgagor that Mortgagor will not mine or cause, authorize or permit any mining of phosphate. limerock, limestone. clay, sand, oil. petroletun or any other mineral on the lands secured by this Mortgage without prior written consent of the Mortgagee and any violation of j this covenant shall give the said Mortgagee the option to declare a default on said Mortgage and aceelerate the principal balance due on the Note hereby secured. together with any other-rights in case of default, as otherwise provided in this instrument. lg. REMEDIES CUMiJI.ATIVE. All remedies provided in this Mortgage are dis ' and cumulative to any other right or remedy ~ under this mortgage or afforded by Law or equity, and may be exercised concurrently ndependently or successively. IN WITNESS WH OF. Mortgagor has executed this Mortgage. t Signed 've a nee o • (SEAL) 3 La ence Yampol c ~ (SEAL) As To Mortgagor S K -`R i } 2 .3 ^f - l h - aoo,<3U7 P~E1183 ~ i _ v ~ x- ~ i ~