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4. To maintain the property free from waste or nuisance
of any kind and in good condition and make all repairs and
improvements which may be necessary to preserve and maintain
the mortgaged property and the value thereof; to comply with
all laws, ordinances and regulations affecting said mortgaged
property, or its use; to pay when due all claims for labor
performed and material furnished to the mortgaged property
and to not permit any lien of any nature to be filed against
the mortgaged property and remain unsatisfied for a period
exceeding twenty (20) days after the date of filing.
5. To comply with all laws, ordinances, regulations,
covenants, conditions and restrictions affecting the mortgaged
property and to not suffer or permit any violation thereof
which would adversely affect the Mortgagee's rights hereunder
or impair the security of the Mortgagee hereunder.
6. To keep all buildings now or hereafter on the
mortgaged property insured against damage, destruction or
loss, under a policy of fire, vandal::.;m, malicious mischief,
and extended coverage in an amount not less than replacement
cost of the improvements on the mortgaged property by an
insuror and under a form of ~,olicy approved by Mortgagee,
the insurance policy to be held by and payable to the Mortgagee.
Mortgagor shall cause the insuror to provide Mortgagee with
a certificate evidencing such coverage and amount and providing
that there shall be no cancellation or change of coverage or
amount without 30 days prior notice to Mortgagee. If the
Mortgagor shall fail Lo perform its obligations hereunder,
the Mortgagee may do so without waiving the option to foreclose,
and the cost thereof, with interest thereon from the date of
payment at the same rate as specified in that note, shall.
also be secured by this mortgage. If any sum becomes payable
under such policy, the Mortgagee may apply it to the indebted-
Hess secured by this mortgage, or may permit the Mortgagor
i to use it for other purposes, without impairing the lien of
this mortgage.
t 7. To furnish, to Mortgagee, on Mortgagee's demand,
at Mortgagor's sole cost and expense, upon default, a
policy of title insurance covering the mortgaged property
and issued in a customary form by a land title insurance
company licensed to do business in Florida, covering the
period, to the date of such demand, from the date of coverage
` of that title insurance policy furnished by Mortgagee to
Mortgagor incident to Mortgagor's purchase of the mortgaged
property from Mortgagee, and in the event such title insurance
is not furnished within twenty (20) days after such demand
Mortgagee may order the same and add the .cost thereof with
interest thereon at the rate provided in the Promissory Note
secured hereby from date of payment, to the debt hereby
secured and collectible under this Mortgage. The cost of
any title insurance required or desired by the Mortgagee in
connection with any foreclosure proceedings instituted to
foreclose this Mortgage may be added to any judgment in ,
foreclosure and be collected as part of the indebtedness
xy hereby secured.
8. The Mortgagee shall provide to Mortgagor a complete
and absolute release and cancellation of this Mortgage and
the lien hereof in a recordable form within ten (10) days of
payment to the Mortgagee of all of the indebtedness secured
hereby.
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322 ~~~E 2065