HomeMy WebLinkAbout0725 ,,.,i 1
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This tnottaage a made, hoairei?a, subject to the following covrnants, conditions and agreements:
FIRST: That the mortgages hmby agrees and covenants to I.+ay 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, then 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: 'Iltat the mortgagor agrees to pay u the same become due and payable all taxes, usessments, and other .
clurges imposed by law (including ditch, canal, reservoir, or other water charges, taxes, or assessments) 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 uneler this paragraph 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 then owing, mortgagor shall not be liabk to pay any of wch 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 taxuion any lien thereon of changing in any way the existing laws for the taxation of mortgages or debts secured by m~rt-
gage for state or local purposes. or the manner of the collection of any such taxes, sn as to affect this mortgage, the holder of
this mortgage and of the debt which it secures. shall havr the right to give six (6) months' written notice to the owner of uid
land requiring the paymrnt of the rntire 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 uid six (6) months.
THIRD: That the mortgagor agrevs to pay all other debts that are now or may become liens upon or charges against
uid premises, and trot to permit any lirn of any kind to ucrue and remain on uid premises, or the improvements therrnn,
which might take precedence over the lien of this mortgage. The mortgagor further agrees not to create any lien on said
premises junior hereto unless the person entitled to the brnefits thereof shall have agreed that the time for the payment of
the indebtedness hereby secured and the manner and amount of yment thereof and the benefits of .the security aBoalal
hereby rnay, without consent of such person and without any obligation to give notice of any kinJ thereto, be extendeJ,
reextended, ucelerated, suspended and refunded on any terms whatsoever without in any manner affecting the priority
of the lien hereby .crated u security for the payment of the indebtedneu secured hereby or any obligation substituted
therefor or issued to refund sane.
FOURTH: That the mortgagor agrees to keep uid premises and improvements thereon in Rood condition and repair
and not to commit or surfer waste thereof; to operate all lands. whether improved pastures, orchards, grazing, umber, or
crop tends. in a good and husbandmanlike manner in ucordance with accepted principles of sound agricultural and forestry
pradica; to take all rcawnable precautions to control wind and water erosion: to fertilize improved pastures, if any, where
necesury to maintain a good stand of desirable grasses; to protect orchards and timber, if any, by reasonable precautions
against loss or damage by fire including the maintenance of appropriate fire 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 written
consent of the mortgagee. 1be mortgagee shall have the right to inspect the mortgaged property at such reasonable times
and intervals u the modgagee may desire, to determine the mortgagors compliance with the covenants contained in any
clause of this mortgage.
FIFTH: That the mortgagor agrees to procure. maintain and deliver, premiums paid, to the mortgagee policies of
'i inwrance against such hazards on the buildings now or hereafter located on uid premises a the mortgagee may from time
to time require. in such companies and in such amount and form and with such loss payable clauses as shall he utisfac-
tory to the mortgagee. The mortgagee is authorized to assign and deliver uid policies to any purchaser of this mortgage or
to the purchaser of aid premises at any foreclosure ale. In event of lou the mortgagee is expressly authorized and em-
powered to settle or compromise claims under uid policies, and the proceeds from uid policies as well as any other policies
procured by the mortgagor shall be aid to the mortgagee who at its sole discretion may apply ume or any part therrnf on
ucount of the indebtedness secured hereby whether or not thrn due and payable, or may apply the ume or any part thereof .
towards the alteration, reconstruction or repair of uid buildings, either to the portion damaged or any other portion therrnf,
or release same to the mortgagor. Such application or release shall not cure or waive any default or notice of default here-
under or invalidate any act done pursuant to such notice.
SIXTH: That in the evrnt 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 lax i;r assessment imposed by law upon said premises or an}
part thereof, or the note, or indebtedneu secured hereby, or to pay any lien, claim or charge against such premises which
might take precedence over the lien of this mortgage or to comply with the provisions of paragraph Fourth herrnf, the
mortgagee may. without notice or demand, insure any of the buildings and pay the coo of such insurance and pay any of
uid taxes, usessments. lirns, claims and charges. or any part thereof, of redeem from the ale of uid premises for any
taxes or usessments (irregularities in the levy or imposition of any tax or usessment being expressly waived), or redeem
from the ale of uid premises resulting from the rnforcement of any wch lirn. claim or charge, or expend such sums u
may be necessary to totted the failure of the mortgagor to comply yvith the provisions of uid paragraph Fourth. and the
mortgagor hereby agrees immediately to repay to the mortgagee, without notice or demand, env sums so laid with interest
thereon at the same rate u specified in the note secured hereby on the principal thereof after default and maturity, and all
sums paid by the mortgagee with interest scull become a pits of the indebtedness secured hereby, and in default of
immediate repayment thereof by the mortgagor the whole indebtedness secured hereby shall at the option of the mortRaRK
become due and payable forthwith without notice.
SEVENTH: That in the evrnt the mortgagor sells or conveys uid premises, or any portion thereof, or, if the
mortgagor is a corporation, sells, trades or disposes of more than of its corporate stock to persons other than
the present ownea, their heirs and qualified dirtrtors prior to the time the indebtedness secured hereby shall have been
reduced to Q t.Q.Q.........., tarn, at the option of the mortgagee, the entire uid indebtedness shall become due and payable.
EIGHTH: That the mortgagor agrees to pay on dem•ind all expenses and attorneys' kes incurred by the mortgagee by
reason of litiguion 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 abstruts of title and title
policies and sarching the records for the purposes of such litigation, shall bar interest at the same rate as specified in the
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