HomeMy WebLinkAbout1720 ~ _
- - - - . _ . _ _ _ _ ~ .Y - - - _ - _
and shall perform, cola~ply with and abide by each and every the stipulations,
agreements, ca~ditions and covenants of said px~anissory note and of this
mortgage, then this mortgage and the estate hereby created shall cease and
be null and void,
AMID TI-~ Mortgagor does hereby covenant and agree
1. To pay all and singular the principal and interest and other
suns of money payable by virtue of said promissory note and
this mortgage, or either, promptly on the days respectively the
same severally become due.
2. To pay all and singular the taxes, assessments, levies, liabilities,
obligati~s and encumbrances of every nature on said described
property, each and every, when due and payable according to law,
before they become delinquent, and if the same shall not be
promptly paid the Mortgagee may at any time, either before or
after delinquency. pay the scone, without waiving or affecting
the option to foreclose, or any right hereunder, and every
payment so made shall bear interest from the date thereof at
the rate of 15~ per cent per annum.
3. To keep the buildings and all equipment and personal property
. now or hereafter on said premises covered by this mortgage
insured at all times against fire and windstorm, in a cartpany or
canpanies always acceptable to the r'brtgagee in a sum equal to
at least the amount of the mortgage, and in an amount sufficient
~ to crntply with any co-insurance requirements covering the same
under the laws of the State of Florida, making the loss under
said policies, each and every payable to the Mortgagee as its
interest may appear and the policy or policies. shall bear a
standard New York mortgagee clause without contribution and
shall be held by the Mortgagee, and, in the event any sum of
~ money becomes payable under such policies or policy, the Mortgagee
shall have the opticm to receive and apply the same on account
t
of the indebtedness hereby secured, or to permit the Mortgagor
to receive and use it, or any party thereof, for other purposes,
~ -4- a~~33t1 P~i714