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under such policy or policies, the mortgagee shall have the
option to receive and apply the same on account of the indebted- }
Hess hereby secured, or to permit the mortgagor to receive
and use it, or any part thereof, for other purposes, without
thereby waiving or impairing any equity, lien or right under
and by virtue of this mortgage; and the mortgagee may place
and pay for such insurance, or any part thereof, without
waiving or affecting its option to foreclose, or any right
hereunder, and each and every payment so made shall bear
interest from the date thereof at the rate of 11.75 per annum.
- 4. To permit, commit or suffer no waste, impairment
or deterioration of said property, or any part thereof, and_ ~
upon the failure of the mortgagor to keep the improvements•
____on said property in good condition of repair, the mortgagee
may demand the -imM~diate --repair-of_ said._~.mprovements or the
immediate repayment of the debt hereby secured, and the failure -
of the mortgagor to comply with said demand of the mortgagee
for a period of thirty (30) days, shall constitute a breach
of this mortgage, and, at the option of the mortgagee, imme- -
diately mature the entire amount of principal and interest
hereby secured, and the mortgagee, immediately and without
notice, may institute proceedings to foreclose this mortgage
and apply for the appointment of a Receiver, as hereinafter
provided; or the mortgagee may make and pay for such repairs
as in its discretion it may deem necessary for the proper
preservation thereof, and the-full amount of such payments
shall be secured by the lien of this mortgage and shall at
the option of the mortgagee be immediately due and payable.
5. To perform, comply with and abide by each and
every the stipulations, agreements, conditions and covenants
in said promissory note and-deed set forth. If any of the
sums of money herein referred to be not promptly and fully
paid as the same severally come due and payable, or if each ~
and every the stipulations, agreements, conditions and covenants
of said promissory note and this deed, or either, are not ~
duly performed,_complied with and abided by, the aggregate
sum mentioned in said promissory note shall become due and
~ payable forthwith or thereafter at the option of the mort-
~ gagee, as fully and completely as if said aggregate sum of
~ money was originally stipulated to be paid on such day, anything
in said promissory note or herein to the contrary notwithstand-
ing.
6. To execute, acknowledge and deliver, from time
to time, such further instruments as mortgagee may require
to accomplish the purposes of this mortgage, including, without
limitation, Uniform Commercial Code financing statements
and continuation forms.
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 Association 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
property, on this mortgage or note, or in any other way result-
ing from the mortgage indebtedness secured by this mortgage.
i
a 8. Until default in the performance of the covenants }
and agreements of this mortgage, the mortgagor shall be entitled t
to collect the rents, issues and profits from the premises
hereinbefore described, but in case of a default in any of
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FEE, KOBLEGARD & TEEL, P. A. i
~ ATTORNEYS AT LAW MM////~~~~ F
POST OPrICE BOX 1000 ~/r~~ p.,.C r F
RORT PICRCC,'LORIQA 35460 6ooK falVC =V\75 i{
T[tE?NON[~ 15061 461.6020 }