HomeMy WebLinkAbout1854 And until [oil payment thertot, or any extensioos or renewals thereof. is whole oar is part. sad psymeat of all other Indebted-
ness or liability that may become due or owing hereunder and secured hereby, shall faitbtully sad promptly comply with
sad perform each sad every other coves:nt and provision herein on the part of Mortgagor to be complied wild sad performed,
tbea these presents shall be void.
And Mortgagor hereby covenants as follows:
Z. To pay. with interest. said note sad say extensions or renewals thereof, in whole or in part. whether the whole
amount shall have been advanced to the Mortgagor at Ne date hereof or at a later date, and all other indebtedness or lia•
b~lity hereby secured, however created or evidenced, promptly when the same respectively becomes due; to pay and/or dis•
charge say other amounts. indebtedness and/or liability that may in /he future become. due, owing or outstanding, from Mort-
kasur to Mortgagee, however the same may be or may have been contracted, evidenced or accrued, and that this mortgage
shall secure all such amounts, indebtedness sad liability together ~cilh any other adi•ancea received by the 1Jorigagor from
bortgagee during Ne existence of Nis mortgage and any renewal or renewals of note or notes for said present or future
indebtedness provided, however. Nat said advances De made within twenty (20) years from the date hereof and that the total
unpaid balance secured hereby at say one time shall sot exceed i 5 i 000.00 plus interest thereon and is conformity
with Sec. 697.0! of Florida Statutes; to pay all taxes and assessments levied or assessed upon said property before the same
become delinquent, and in no event to permit said property. or any part thereof, to be wld for aonl~ayment of taxes or assess-
ments; to keep said property in good repair sad to permit, commit or softer no waste, impairment or deterioration tbereof•
to comply strictly w~tb all laws sad governmental regulations and rules attesting said properly or its operation; to pay all
taxes that may be levied or assessed on this mortgage or •he moneys si'cured hereby. provided that in ao went shall the
amount paid on account of such taxes, together with He interest paid on the indebtedness secured hereby exceed the maxi-
mum interest rate allowed by law; to permit ao mechanic's or other liens arising either b~ contract or by law which might
be prior in lien to Ne 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, sad discharge of said premises and property- therefrom procure~t
3. That in case this mortgage and note secured hereby, or either of Nem or any renc~~at or extension thereof, shall he
pissed in the hands of an attorney for collection by reason of the default o[ Mortgagor, o~ his heirs or assigns, they do cove-
nant and agree to pay all costs and expenses of such collection, including a reasonable attorney's fee whether collection be
by foreclosure or otherwise sad if such collection shall be by foreclosure and an app: a! or appeals is such action shall ensue,
Mortgagor and his heirs. or assigns, agree to pay all Ne costs, including a reasonable attorney's fee incurred in the appeal
or appeals in connection with such collection.
4. That if any action, or proceedings, shall be commenced by any person other than the holder of Nis mortgage (ex-
cept an action to foreclose this mortgage or to collect He debt secured hereby) to which action, or proceedings. Ne holder of
Nis mortgage is made a party. or in which iL shall become accessary to defend. or uphold, the lien of this mortgage, all sums
paid by the holder of this mortgage for the expense of any litigation to prosecute. or uetend the rights and liens created by
this mortgage (including reasonable counsel fees for services boN in Ne Trial Court and in the Appellate Court), shall be
paid by the Mortgagor, together wiN interest thereon at the maximum legal rate of interest, and any wch sum. and the
interest NPreon, shall be a claim upon said premises. atUching or accruing. subsequent to the lien of this mortgage, and shall
be deemed to be secured by Nis mortgage and by the note that it secures. In any action or procerdiag, to foreclose this
mortgage, or to recover, or collect, Ne debt secured thereby. the provisions of law respecting Ne recovery of costs, disburse-
ments sad allowances. other Nan counsel fees. shall prevail, unaffected by this covenant.
S. Mortgagor further covenants to keep Ne 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 leas than ~l 111S11Y'dbl@ YdltlP. ,and against all loss or damage by tornado or windstorm- in a
sum of dot less than s full ].ILSilrable Vdlll@ , In insurance companies satisfactory to Mortgagee (but kortgagee
shall not be liable for the insolvency or irresponsibility of any such companies), and to promptly pay all premiums for such
insurance, the policies representing which shall be delivered to and held by Mortgagee as additional security for Ne payment
of the indebtedness and liability secured hereby. All sums recoverable on any such insurance policies shall be made payable
to Mortgagee by a loss payable clause satis[actory to Mortgagee. to be attached to such policies. Ln the event any such in-
surance policy shall expire during He life hereof, Mortgagor agrees to procure and pay for rcnewat thereof, with the above
requirements, replacing such expired polio, sad deposit the same with. Dortgagee, together with receipts showing payment
in full of premiums Herefor, ten days prior to He expiration date of such policy. Ia case of loss Jortgagee is hereby author-
ized to adjust and settle say claim under any such policy and Mortgagee is authorized to collect and receipt for any such
insurance money and to apply the same, at Mortgagee's option, in reduction of Ne indebtedness hereby secured, whether
due or not, or to allow Iliortgagor to use such insurance money, or any part thereof, in repairing the damage or restoring the
improvements or other property wiWout attesting the lien hereof for the full amount. secured hereby.
6. It is further covenanted Nat Mortgagee may (but than not be obligated so to do) advance moneys Nat should have
been paid by Mortgagor hereunder is order to protect Ne lien or security hereof, and 1lfortgagor agrees without demand
to torthwiN repay such moneys, which amount shall bear interest from Ne date so advanced until paid at the rate of 10
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 of 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 Ne rights of Mortgagee hereunder. or operate as a release from any liability upon any part of Ne indebtedness
hereby secured, under any covenant herein contained.
7. As further sad additional security for He perforntanct of the terms and conditions of Nis mortgage, sad for the
payment of He amounts stipulated in Ne note secured thereby, Ne Mortgagor hereby agrees that in case of default in any
of the payments stipulated is said note, sad so long as such default continues, or in the event Nat Mortgagor is is default ~
under any of Ne provisions of Nis mortgage. He Mortgagee is hereby authorized and empowered, by its servants, agents, r
or attorneys, to enter on the mortgaged premises sad to collect and receive the -rents, incomes and profits therefrom, and
to apply Ne same to Ne payment of amounts due on said note. And far Nis purpose, Mortgagor hereby absolutely assigns,
transfers and sets over to Mortgagee Ne rents accruing from said premises during the period of such default. Nothing cos-
tained in the foregoing provision shall impair or affect any right or remedy which the 1llortgagee might now or hereafter
have, were it sot for said provision but Ne remedy Herein gives shall be in addition to any others which the aortgagee may
have hereunder.
8. Mortgagor agrees that the rate of interest and time o f payment of this mortgage and the note or notes secured here-
by may be extended or modified from time to time by mutual written agreement of the holder hereof with the owner of Ne
premises at He time of such agreement, and it is specifically further agreed Nat any such extension shall not operate or re-
lease Ne personal obligation of either Ne Mortgagors or of say endorsers or any guarantors of said note or notes or of this
mortgage. t
9. If foreclosure proceedings of any second mortgage or any second trust deed or lien o[ anp kind shall be instituted, )
He Mortgagee may at its option Immediately, or thereafter, declare this mortgage and He indebtedness secured hereby due
and payable.
10. That in He event the premises hereby mortgaged, or any part Hereof. shall De condemned and taken for public use -
under the power of eminent domain, the Mortgagee shall have He right to demand Nat all damages awarded for He taking
of or damages to said premises shall be paid to the Mortgagee up to He amount Hen unpaid on this mortgage, and He oblige- ~
lion secured hereby, and may be applied upon the payments last payable wader this mortgage and He obiiga_tioa secured }
hereby. -
11. It is further covenanted and made of He essence hereof that in case of default for five days in He performance of
any of the covenants htrela on the part of Mortgagor, Hen it shall be optional with Mortgagee to consider all uamatured
indebtedness or liability secured hereby, and accrued interest thereon, as immediately due and payable, without demand and
without notice or declaration of said option, sad Mortgagee shall have He right forthwith to institute proceedings to en[orce
the collection of all moneys secured hereby and/or to foreclose Ne lien hereof. ;
$~~K329 ~~~185~
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