HomeMy WebLinkAbout0171 t: ,x ~ :fit
~
1l~is mortgage is made, however, subject to the following covrnants, conditioru and agreemrnts:
FIRST: That the mortgagor hereby agrees and covrnants to pay 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, thrn the
same sha8, 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: That the mortgagor agrees to pay u the same become due and payabk all taxes, usessrnents, and other
chugs imposed by law (including ditch, canal, reservoir, or other water charges, taxes, or assessments) upon said
premises or any put thereof including the mortgagee's interest therein and upon this mortgage or the note or indebtedness
secured hereby, provided that should the ~rrtounts paid for the mortgagee under 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 thrn owing, mortgagor shall not be liabk to pay any of such excess over the highest lawful rate. In the event
of the passage, after the date hereof, of any law by the State of Florida, deducting from the value of land for the purpose
of taxation any lien thereon or changing in any way the existing laws for the taxation of mortgages or debts secured by mort-
gage for state or local purposes, or the manner of the collection of any such taxes. so u to affect this mortgage, the holder pf
this mortgage and of tTie debt which it secures, shall have the right to give six (6) months' writtrn notice to the owner of uid
land regtunng the pavmrnt of the rntire indebtedness secured hereby, and it is hereby agreed that if such notice be givrn the
said indebtedness shall become due,.and collectible at the expiration of said six (6) months.
THIRD: That the mortgagor aggrees to pay all other debts that are now or may become lirns upon or charges against -
said premises, and not to permit any lirn of any kind to accrue and remain on said premises, or the improvements thereon,
which might take precedence over the lirn of this mortgage. The mortgagor further agrees not to create any lim on said
premises lun~or hereto unless the person entitled to the benefits thereof shall have agreed that the time for the payment of
the indebtedness hereby secured and the manner and amount of paymrnt thereof and the brnefits of the secunty afforded
hereby may, without consrnf of such person and without any obligation to give notice of any kind thereto, be extrnded. -
reextrnded, accelerated, susprnded and refunded on any terms whatsoever without in any manner affecting the priority '
of the lien hereby created u security for the paymrnt of the indebtedness secured hereby or any obligatiat substituted ~
therefor or issitied to refund same. ~
FOURTH: That the mortgagor agrees to keep said premises and improvemrnts thereon in good condition and repair ~ '~t
and not to commit or snlfer route thereof; to operate all lands, whether improved puturcs, orchards, grazing, timber, or
crop lands, in a good and husbandmanlike manner ~n accordance with acceQted principles of sound agricultural and forestry
practices; to take all reasonable precautions to control wind and water erosion: to fert~bu improved pastures, if any, where
j necesury to maintain a good stand of desirable grasses; to protect orchards and timber, if any, by reasonable precautions
against loss or damage by fin including the maintenance of appropriate Ere breaks; and neither to remove nor permit flit
removal of any timber, buildings, 'oil, gu. mineral, stone, rock, clay, fertilizer, gravel or top soil without the prior writtrn
consent of the mortgagor. The mortgagee shall have the right to inspect the mortgaged property at such reasonable times
and intervals u the mortgagee may desire, to determine the mortgagor's compliance with the covrnants contained in any
i clause of this mortgage.
FIFTH: That the mortgagor agrees to procure, maintain and deliver, premiums paid, to the mortgagee policies of
insurance against such hazards on the buildings now or hereafter located on said premises as the mortgagee may from time
to time requite, in such companies and in such amount and form and with such loss payable clauses u shall be satisfu-
tort' to the mortgagee. The mortgagee is authorized to assign and deliver said policies to any purchaser of this mortgage or
to the purchaser of said premises at any foreclosure sale. In evrnt of loss the mortgagee is expressly authorized and em-
powered to settle or compromise claims under said policies, and the proceeds from said policies u well u any other policies
procured by the mortgagor shall be ~d to the mortgagee who at its sole discretion may apply same or any part thereof on
ucount of the indebtedness secured hereby whether or not thrn due and payable, or may apply the same or any part thereof
towards the alteration, reconstruction or repair of said buildings, either to the portion damaged or any other portion thereof,
of 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 tax or assessment imposed by law upon said premises or any
part thereof, or the note, or indebtedness secured hereby, or to pay any lien, claim or charge against such premises which
might take precedrnce over the lirn of this mortgage or to comply with the provisions of paragraph Fourth hereof, the -
mortgagee may, without notice or demand, insure any of the buildings and pay the cost of such insurance and pay any of
said taxes, usessments, liens, claims and charges. or any part thereof, or redeem from the sale of said premises for any
taxes or assessmrnts (irregularities in the levy or imposition of any tax. or usessmrnt being expressly waived), nr redeem
from the sale of said premises resulting from the rnforcemrnt of any such lien. claim or charge, or expend such sums u
may be netiessarv to correct the failure of the mortgagor to comply with the provisions of said paragraph Fourth, and the
mortgagor hereby agrees immediately to repay to the mortgagee, without notice or demand, any 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 shall become a part of the indebtedness secured hereby, and in default of
immediate rcpaymrnt thereof by the mortgagor the whole indebtedness secured hereby shall at the option of the mortgagee
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 ._.4.9........~f of its corporate stock to persons other than
the presrnt owners, their heirs and qualified directors prior to the time the indebtedness secured hereby shall have been
reduced ro =.........0.• 00,.,, at the option of the mortgagee, the entire said indebtedness shall become due and payable.
EIGHTH: That the mortgagor agrees to pay on demand all expenses and attorneys' fees incurred by the mortgagee by
reason of litigation or legal proceedings in which the mortgagee is made a party to protect the,lirn of this mortgage and
I all moneys so paid by the mortgagee, including any exprnse incurred in procunng or continuing abstracts of tick and tick
policies and seaming the records for the purposes of such litigation, shall bear interest u the same rate u specified in the
k~E'S4 _ : 4 `sue Y