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HomeMy WebLinkAbout0995 and shall duly, promptly and fully perform.. discharge, execute, effect, complete, comply wiUi and abide by each - and every the stipulations, agreementis, conditiorin and covenants of said promissory note and of fhb mortgage. then this mortgage and the estate hereby created shall cease and be null and void. It is understood that each of the words "note;' "mortgagor" and "mortgagee" respectively and the pro- nouns referring thereto, whether in the singular or plural anywhere in this mortgage, shall be singular i1 one only and shall be plural jointl}? and severally, if more than one, and shall be masculine, femufine and/or neuter, whe~- ever the context so implies or admits. Md said Mortgagor for himself and his heirs. legal representatives, successors and assigns, hereby covenants and agrees to and with said Mortgagee. his legal representatives, successors and assigns: 1. To pa all and singular the principal and interest and the various and sundry sums of money payable by virtue of said promissory note, and this mortgage, each and every. promptly on the days respectively the same severally become due. _ 2. To pay all and singular the taxes, assessments. levies, liabilities, obligations and encumbrances of every nature and kind now on said described property, and/or that hereafter may be imposed, suffered, placed, levied or assessed thereupon, and/or that hereafter may be levied or assessed upon this mortgage and/or the indebted- ness secured hereby, each and every, when due. and payable according to law, before they become delinquent. and before any interest attaches or any penalty is incurred; and insofar as any thereof is of record the same shall be promptly satisfied and discharged of record and the original official document (such as, for ira4tance, the tax receipt or the satisfaction paper officially endorsed or certified) shall be placed in the hands of said Mortgagee within ten days next after payment; and m the event that any thereof is not so paid, satisfied and discharged. said Mortgagee may at any time pay the same or any part thereof without waiving or affecting any option, lien, equity or right under or by virtue of this mortgage, and the full amount of each and every such payment shall be immediately due -and payable and shall bear interest from the date thereof until paid at the rate of ten per centum per annum and together with such interest shall be secured by the lien of this mortgage. 3. To place and continuously keep on the buildings now or herea r to to on said~and f~~'rree and windstorm insurance in the usual standard policy form, in a sum not less than i~11~~ ~AS13~8 ~ Y$1~t~@ii such rnm- pany or companies as may be approved by said Mortgagee; and all such insurance policies on any of said build- ings, any interest therein or part thereof; in the aggregate sum aforesaid or in excess thereof, shall rnntain the usual standard mortgagee clause making the loss under said policies, each and, every, payable to said Mortga- gee as his interest may appear, and each acid every such policy shall be promptly delivered to and held by said Mortgagee; and, not less than ten days in advance of the expiration of each policy, to deliver to said Mortgagee. a renewal thereof, together with a receipt for the -premium of such renewal; and there shall be no such insur- ance placed on any of said buildings, any interest therein or part thereof, unless in the form and with the lass payable as aforesaid: and in the event any sum of money becomes payable under such policy or policies said Mortgagee shall have the option to receive and apply the same on account of the indebtedness secured hereby or to permit said Mortgagor to receive and use it or any part thereof for other purposes without thereby waiving or impairing any equity. lien or right under or by virtue of thu mortgage; and in the event said Mortgagor shall for any reason fail to keep the said premises so insured, or fail to deliver promptly any of said policies of insurance to said Mortgagee. or fail promptly to pay fully any premium therefor, or in any respect fail to per- form, discharge, execute, effect, complete, comply with and abide by this covenant, or any part hereof. said Mort- gagee may place and pay for such insurance or any part thereof without waiving or affecting any option, lien. equity or right under or by virtue of this mortgage, and the full amount of each and every such payment shall be immediately due and payable and shall bear interest from the date thereof until paid at the rate of ten per centum per annum and together with such interest shall be secured by the lien of this mortgage. To permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. 5. To pay all and singular the costs, charges and expenses, including reasonable lawyer's fees and cost of abstracts of title, incurred or paid at any time by said Mortgagee because and/or in the event of the failure on the' part of the said Mortgagor to duly, promptly and fully perform, discharge, execute, effect, complete. comply with and abide by each and every the stipulations, agreements, conditions and covenants of said pmmis- sory note, and this mortgage, any or either, and said rnsts. charges and expenses, each and every, shall _ be im- mediately due and payable, whether or not there be notice, demand, attempt to rnllect. or suit pending; and the full amount of each and every such payment shall bear interest from the date thereof until paid at the -rate of ten per centum per annum; and all said costs, charges and expenses so incurred or paid, together with such in- terest, shall be secured by the lien of this mortgage. ~ 6. That (a) in the event of any breach of this mortgage or default on the part of the Mortgagor, or (b) in the event any of said sums of money herein referred to be not promptly and fully paid within ten days next after the same severally become due and payable, without demand or notice, or (c) in the event each and every --the stipulations, agreements, conditions and covenants of said promissory note and this mortgage, any or either. - ~ are not duly. promptly and fully performed, discharged, executed, effected, completed, complied with and abided by, then, in either or any such event, the said aggregate sum mentioned in said promissory note then remaining unpaid, with interest accrued, and all moneys secured hereby, shall become due and payable forthwith, or there- after, at the option of said Mortgagee, as fully and rnmpletely as if all of the said sums of money were originally stipulated to be paid on such day, anything in said promissory note, and/or in this mortgage to the contrary not- withstanding; and thereupon or thereafter at the option of said Mortgagee, without' notice or demand, suit at law i or in equity, theretofore, or .hereafter begun, may be prosecuted as if all moneys secured hereby had matured prior to its inst?tution. - 7. That in the event that- at the beginning of or at any time pending any suit upon this mortgage, or to foreclose it, or to reform it, and/or to enforce payment of any claims hereunder, said Mortgagee shall apply ; to the court having jurisdiction thereof for the appointment of a Receiver. such court shall forthwith appoint a Receiver of said mortgaged property all and singular, including all and singular the rents, income, profits. issues and revenues from whatever source derived. each and every of which, it. being expressly. understood, is hereby mortgaged as if specifically set forth and described in the granting and habendum clauses hereof. and such Receiver shall have all the broad and effective functions and powers in anywise entrusted by a court to a Receiver, and such appointment shall be made by such rnurt as an admitted equity and a mater of absolute right to said Mortgagee, and without reference to the adequacy or inadequacy of the value of the property mort- ~aged or to the solvency or insolvency of said Mortgagor and/or of the defendants, and that such rents. profits, income, issues and revenues shall be applied by such Receiver according to the lien and/or equity of said Mort- 1 gagee and the practice of such court. - 8. To duly, promptly and fully perform, discharge, execute, effect. complete, comply with and abide by each and every the stipulations, agreements„ rnrdrtions and covenants in said promissory note and in this mortgage set forth. 9. It is mutually covenanted and agreed by and between the Mortgagor and the Mortgagee that this mortgage and the note secured hereby constitute a Florida contract and shall be construed according to the laws of that ? E State. F g~K341 P~~E 995 ~ - _t