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HomeMy WebLinkAbout2822 ila- _ ' - ` 1 ~ I.AW OFlr1C6B i} FARISH ~ FARISH tt ~I)6NC0 BUILDING, 318 FIRS? ST. ~I CST PAWri BSACN, FLORIDA 334U$ AND the said Mortgagor hereby covenants and agrees: ~ ~l 1.~ To pay all and singular the principal and interest.pnd other sums of money payable by virtue of .;licl promissory note and this mortgage deed, or either. promptly on the days respectively the same severally come due. 2. To pay all and singular the taxes. assessments. levies, liabilities. obligations and encumbrances of every nature now or hereafter imposed. levied or assessed upon or against the mortgaged property, and that may be levied or assessed upon this mortgage deed or the note or indebtedness secured hereby. each and every. and if the same be nc~t promptly paid, the said Mortgagee may at any time pay the same without waiving or affecting the option to farecl~~se or any. right hereunder. 3. To pay all and singular the costs. charges ar<d expenses, including attorney's fee, incun~ed, or paid at any time by said Mortgagee because of the failure on the part of said Mortgagor to perform, comply with and abide by Nach i and every the stipulations. agreements. conditions and covenants of said promissory note and this mortgage deed, or k either. _ 4. To keep the improremcnts now existing or hereafter erected on the mortgaged property. and the equipment " and personalty covered by this mortgage deed, insured as may be required from time to time by the Mortgagee against loss by fire, windstorm and. other hazards. casualties and rnntingencies. in such amounts and for such periods az may be required by Mortgagee, and will pay promptly when due. any premiums on such insurance. Alf insurance shall be carved in rnmpanies approved by Mortgagee and the policies and renewals thereof shall beheld by Mortgagee and have ~ attached thereto loss payable clauses in favor of and in form acceptable to the Mortgagee. In event of loss the Mortgagor will give immediate notice by mail to Mortgagee, and Mortgagee may make proof of loss if not made-promptly by Mortgagor.'and each insurance company concerned is hereby authorized and directed to make payment for such loss directly to Mortgagee instead of to Mortgagor and Mortgagee jointly. and the insurance proceeds. or any part thereat may be applied by Mortgagee at his option either to the reduction of the indebtedness hereby secured or to the restoration or repair of the property damaged. In event of foreclosure of this mortgage deed or other transfer of title to the mo~gaged property in extinguishment of the indebtedness secured hereby, all right. title and interest of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee. 5. To permit. commit or suffer no waste, impairment or deterioration of said property or any part thereof; and in the event of the failure of the Mortgagor to keep the buildings on said premises and those to be erected on said premises. or improvements thereon, in good repair, the Mortgagee may make such repairs as in his discretion he may - dcem necessary for the proper preservation thereof. and no building on said premises shall be removed or demolished • without the written consent of the Mortgagee. 6. To perform, comply with and abide by each and every of the -stipulations. agreements. conditions and covenants in said promissory note and this mortgage deed set forth. 7. Thaf in the event the Mortgagor fails to pay or discharge said taxes. assessments. liens and encumbrances or said costs. charges and expenses, or fails to keep said premises insured or to deliver the policies. premiums paid, or fails to repair the said premises, az herein agreed, the Mortgagee is hereby authorized at his election to pay and/or discharge said taxes, assessments. liens and encumbrances or any part thereof, to pay said costs, charges and expenses, to procure and pay for such insurance or to make and pay for such repairs, without any obligation on his part to determine the validity or necessity of any thereof and without the Mortgagee waiving or affecting any option. lien, equity or right under or by virtue of this mortgage deed; and the full amount of each and every such payment shalt be immediately due and fayable and shall bear interest from the date thereof until paid at the rate of 10 per centum per annum, and, together with such interest. shat! be secured by the lien of this mortgage deed; but nothing herein contained shall be construed as requiring the Mortgagee to advance or expend monies for any of the purposes in this paragraph mentioned. 8. That (a) in the event of any breach of this mortgage deed or default~on the part of the Mortgagor. or ib) in the event any of said sums of money herein referred to be not promptly and fully paid within- (O) - days next after the same severally become due and payable, without demand or notice.. or (c) in the event each and every the stipulations. conditions and covenants of said promissory note and this mortgage deed, any or either, are not duly performed, rnmplied with and abided by; then, in either or any such event. the said aggregate sum mentioned in said promissory note then remaining unpaid. with interest accrued. and all monies secured hereby. shall become due and payable forthwith, or thereafter, at the option of said Mortgagee. az fully and completely as if all of said sums of money were originally stipulated to be paid on such day, anything in said promissory note or in this mortgage deed to the contrary notwithstanding; and thereupon or thereafter, at the option of the Mortgagee. without notice or demand, suit at law or in equity. theretofore or thereafter begun, may be prosecuted as if all monies secured hereby had matured prior to its institution. - 9. That said Mortgagee shall be at liberty. upon a bill of complaint being Tiled. or any other proper legal proceeding being commenced to foreclose or reform this mortgage deed and/or to enforce payment of any claims hereunder, to appiy for. and the Mortgagee-shall be entitled, az a matter of right. without consideration of the value of the mortgaged premises as security for the amounts due the Mortgagee, or of the solvency of any person or persons bonded or liable for the payment of such amounts, to the appointment by any competent Court of a Receiver for the rents, issues and profits of the said premises, with power to lease the said premises, and with such other powers as may be deemed necessary, who, after deducting all proper charges and expenses attending the execution of said trust as Receiver, shall apply the residue of the said rents. issues and profits to the payment and satisfaction of the amount remaining secured hereby. or to any deficiency which may exist after applying the proceeds of the sale of the said prem- ices to the payment of the amount due, including interest, the costs and a reasonable attorney's fee for the Toreclosure and sale; and said rents. issues and profits are hereby, in the event of any default or defaults in the payments of said principal. or interest. or any tax, assessment, insurance premium, mechanic's lien or other liens, or breach of any cove- nant orcondition in this mortgage deed. pledged and assigned to the-said Mortgagee who shall have the right forthwith after any such default to enter upon and take possession of the said mortgaged premises and to let the said premises and receive the rents, issues and profits thereof. and apply the same. after payment of any and all necessary charges and expenses.-on account of the amount hereby secured. 10. That the mailing of a written notice or demand by depositing it in any post office, station or letter box. enclosed in a postpaid envelope addressed to the owner of record of said mortgaged premises, or directed to said owner at the last address actually furnished to the holder of this mortgage deed. or directed to said owner at said mortgaged premises. shall be sufficient notice and demand in any rase arising under this instrument and required by the provisions thereof or the requirements of the law. 3 ~aax3171+~~~~.7 •