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HomeMy WebLinkAbout0668 1 Acrd ttatll full payment thereof, or any extensions oe renewals thersot, in whole or is part, and payment of all other i~debted~ cress or liability that may become dw. or owing berettader and secured hereby, shall faithfully and promptly comply with and perform each and every other covenant and provlsioa herein oa the part of Mortgagor to be compl?ed with and performed. then then presea4 ahaU be void. Acrd Mortgagor hereby corenanta y follows: 2. To pay, with interest, said note and aWr extensio ns or renewals thereof, in whole or in part, whether the whac amount shall have been advanced to the Mortgagor at the dale hereof or at a later date. and all other indebtedness or lia• b?liq• hereby secured, however created or evidenced. promptly when the same respecti~•ely becomes due; to pay and. or dis• cha?•ec any other amounts, indebtedness and/or liability that may. in the future become due. owing or uutstand?ng, from afort- gaeur to Mortgagee, however the same may b! or may have been contracted, evidenced or accrued, and that this mortgage shall secure all such amounts. indebtedness and liability together with any other advances received by the ~Iorlgagor from Mortgagee during the existence of this mortgage and any renewal or renewals of note or notes for said present or tature indebtedness provided, however. that said advances be made within twenty l20) years Iron the date herec+f and that the total unpaid balance secured hereby at any one time shall not exceed i 1 S 000.00 plus interest thereon and in conformity , with Sec. 697.0(! of Florida Statutes; to pay all taxes and assessmen Evt or assessed upon said property before the same become delinquent, and Ia ao event to permit pfd property. or any part thereof, to be sold for noal~aymeat of taxes or assess- ments; to keep said property in good repair and to permit, commit or softer no waste, impairment or deterioration thereo[; to comply strictly v??lh all laws and governmental regulations and rules- affecting said property or its operation; to pay all taxes that may be levied or asussed on this mortgage or •he moneys secured hereby. provided that in no event shall the amount paid on account of such taxes, together with the interest paid on the indebtedness secured hereby exceed the maxi- mum interest rate allowed by law; to permit no mechanic's or other liens arising either by contract or by law which might be prior in lien to We lien hereof, to be created or rest upon all or nay part of aforesaid premises or property for ten days without the same being paid or released, and discharge of said premises and property there[rom procurc~t 3. That in eau this mortgage and note secured hereby, or either of them or any renewal or extension thereof, shall he placed in the hands of as attorney for collection by reason of the default of Mortgagor, o.• his heirs or assigns, they do cu~•c- nant and agree- to pay all costs and expenses of such collection. including a reasonable attorney's fee whether collection Le by foreclosure or otherwise and if such collection shall be by foreclosure and an app: al or appeals in such action shall ens??~, Mortgagor and his heirs, or assigns, agree to pay all We costs. including a reasonable attorney's fee .incurred in the appeal o?• appeals in coaaectioa with such collection: 4. That if any action, or proceedings, shall be commenced by any person other than the- holder of this mortgage (ex- cept an action to foreclose this mortgage or to collect the debt secured hereby) to which action, or proceedings. the holder of this mortgage is made a party. or in which it shall become necessary to defend, or uphold, the lien of this mortgage, all sums paid Dy the holder of this mortgage for the expeau of any litigation to prosecute, or defend the rights and liens created by this mortgage. (including reasonable counsel fees for services both in the Trial Court and in the Appellate Court), shall be paid by the Mortgagor, together with interest thereon at the maximum legal rate of interest, and any wch sum, and the interest thereon, shall be a claim upon said premises. attaching or accruing, subsequent to the lien of this mortgage, and shall be deemed to be secured by this mortgage and by the note that -it secures. In any action or proceeding, to foreclose this 1 mortgage, or to recover. or collect, the debt secured thereby. the provisions of law respecting the recovery of costs, disburse~ menu and allowances, older than counsel fees, shall prevail, unat[ected by this covenant. S. Mortgagor further covenants to keep We building:. structures and other improvements now or hereafter erected or placed on the premises and constituting a past of the mortgage security constantly insured against all loss or damage by fire in a sum not less than =full insurable Valtilt~„d against all loss or damage by tornado or windstorm in a sum of not less th,n :full insurable Values insurance companies satisfactory to Mortgagee (but Mortgagee shall not be liable for the insolvency or irresponsibility of nay such companies), and to promptly pay all premiums for such insurance, the policies representing which shall be delivered to and held Dy Mortgagee as additional security for the 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 satisfactory to Mortgagee, to be attached to such policies- In the event nay such ?n- surance policy shall expire during the life hereof, Mortgagor agrees to procure and pay for renewal thereof, with the above requirements, replacing such expired policy. and deposit the same withliortgagee, together with receipts show?ng payment ~ in full of premiums therefor, ten days prior to the expiration date of such policy. In case of loss ~torteagee is hereby author- ized to adjust and settle any claim under any such policy and Mortgagee is authorized to collect and receipt for any such insurance money and to apply We same, at Mortgagee's option, in reduction of the indebtedness hereby secured, whether due or not, or to allow 1liortgagor to use such insurance mono)-, or any part thereof, in rcpa?nn~ the damage or restoring thr improvements or other property without affecting the lien hereof for the full :mount secured hereby. 6. It is further covenanted War Mortgagee may (but shall not be obligated so to dot advance moneys that should have been paid by Mortgagor hereunder is order to protect the lien or security hereof, and ~forlgagor agrees without demand i to forthwith repay such moneys, which amount shall bear interest from the date so advanced until paid at the rate o[ 10 per cent per-annum and shall be considered as so much additional indebtedness secured hereby; but no payment by ttiortgagee 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 lltortgagor 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 We rights of Mortgagee hereunder. or operate as a release from any liability upon any part of the indebtedness hereby secured, under nay covenant herein contained. 7. As furWer and additional security for We performance of the terms and conditions. of this mortgage, and for the payment of We amounts stipulated in We note secured thereby, We 1ltortgaRor hereby agrees that in cue of default is nay of the payments stipulated in said note, and so long as such default continues, or •in the event that Mortgagor is in default under any of We provisions of Wis mortgage. We Jortgagee is hereby authorized and empowered, by its servants, agenu, or attorneys, to eater on the mortgaged premises and to collect and receive the rents, incomes and profits therefrom, and to apply the same to We payment of amounts due on said note. And for this purpose, :lortgagor hereby absolutely assigns, transfers and sets over to Mortgagee the rents accruing from said premises during the period of such default- nothing con- tained in the foregoing provision shall impair or afteM any right or remedy which the I1lortgagee might now or hereafter have, were it not for said provision but We remedy therein given shall be in addition to any others which the 9ortgagee may have hereunder. 8. Mortgagor agrees that the rate of interest and time o t payment of this mortgage and the note or notes secured here- f by may be extended or modified from time to time by mutual written agreement of the holder hereof with the owner of the premises at We time of such agreement; and it is speciticaUy further agreed Wat any such extension shall not operate or re• ~ ; lease the personal obligation of either We itortgagors or of nay endorsers or any guarantors of said note or notes or of this mortgage. 9. Tf foreclosure proceedings of nay second mortgage or any second trust deed or lien of any kind shall be instituted. We Mortgagee may at its option Immedutely, or thereafter. declare Wis mortgage and We indebtedness secured hereby due and payable. s 10. That is We event the premises hereby mortgaged, or nay part Wereof. shall be condemned and taken for public use under We power of eminent domain. the Mortgagee shall have We right to demand that all damages awarded for the taking of or damages to acid premises :hall be paid to the Yorigagee up to the amount then unpaid on this mortgage, and We obliga- ~ lion secured hereby, and may be spelled upon the payments last payable under Wis mortgage and We obligation secured hereby. 11. It is further covenanted and made of We essence hereof that in case of defaWt for five days in the performance of any of We covenants herein on the part of lortgagor, then 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, and Mortgagee shall have We right forthwith to institute proceedings to enforce the collection of all moneys secured hereby and/or Lo foreclose the lien hereof. BOOK 335 PAGE . lJl1 - _ = 5