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7. To deliver to the mortgagee on or before March
15th of each year, tax receipts evidencing the payment of
all lawfully imposed taxes for the preceding calendar year;
to deliver to the mortgagee receipts evidencing the payment
of all liens for public improvements within ninety (90) days
after the same shall become due and payable, and to pay or
discharge within ninety (90) days after due date any and
all governmental levies that may be made on the mortgaged f
property, on this mortgage or note, or in any other way resulting
from the mortgage indebtedness secured by this mortgage.
8. Until default in the performance of the covenants ~ E
and agreements of this mortgage, the mortgagor shall be entitled
to collect the rents, issues and profits from the premises
hereinbefore described, but in case of a default in any of
the terms of this mortgage, or the filing of a complaint
to foreclose this or any other mortgage encumbering the within
described property, the mortgagee shall immediately and without
notice be entitled to the appointment of a Receiver of the ~
mortgaged property, and of the rents, issues and profits i
thereof, with the usual power of Receivers in such cases, -
and such Receiver may be continued in possession of the said
property until the time of the sale hereof under such foreclosure
and until the confirmation of such sale by the Court or by
operation of law.
9. In the event the premises hereby mortgaged, or
any part thereof, shall be condemned and taken for public
use under the power of eminent domain, the mortgagee shall
have the right to demand that all damages awarded for the
taking of, or damages to, said premises shall be paid to
the mortgagee, its successors or assigns, up to the amount
then unpaid on this mortgage and may be applied upon the
payment or payments last payable thereon. ~
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10. The mortgagor binds-itself not to erect or permit
to be erected any new buildings on the premises herein mortgaged
or to add or to permit to be~added to any of the existing
improvements thereon, or to demolish, alter or destroy any '
material part of the improvement, without the written consent
of the mortgagee. and _in _the ..event of an_y violation or attempt_ _ ~
to violate this stipulation this mortgage and all sums„secured _
hereby shall immediately become due and collectible at the
~ option of the mortgagee.
~ 11. It is specifically agreed that time is the essence ~
of this contract and that no waiver of any obligation hereunder 2
or of the obligation secured hereby shall at any time thereafter
be held to be a waiver of the terms hereof or of the instrument ~
secured hereby. -
12. If foreclosure proceedings of any second mortgage
or second trust deed or'any junior lien o~ any kind should
be instituted, the mortgagee may at its option. immediately
or thereafter declare this mortgage and the indebtedness
secured hereby due and payable.
13. To the extent of the indebtedness of the mortgagor
to the mortgagee described herein or secured hereby the mortgagee
is hereby subrogated to the lien or liens and to the rights
of the owners and holders thereof of each and every mortgage,
lien or other encumbrance on the land described herein which
is paid and/or satisfied, in whole or in part, out of the
~ proceeds of the•loan described herein or secured hereby,
and the respective liens of said mortgages, liens or other
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FEE. KOBLEGARD & TEEL. P. A.
ATTORH6T8 AT LAW . r)
P08T OFFICE BOX 1000 PAGE
FORT PIERCl~ FLORIDA 88480 r
T[LE?MONE~ 1808) 481-8020 -
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