Loading...
HomeMy WebLinkAbout0920 ~ . . •~w i occupy and enjoy said mortgaged property= that the same is free from all encumbrances except as herein specifically set forths that the Mortgagor will make such further assurances to perfect the title to said mortgage property in the Mortgagee as may ! r-easonably be requireds that the Mortgagor hereby fully warrants the title to~said mortgaged property and will defend the same against the lawful claims of all persons whomsoever. PROVIDED, ALWAYS, that if the Mortgagor shall pay unto the Mortgagee the indebtedness evidenced by the Promissory Note a ~ copy of which is attached hereto as Exhibit •A" and shall perform, comply with and abide by each and every the stipula- lations, agreements, conditions and covenants of said promissory note or notes and of this deed, then this deed and the estate thereby created shall cease and be null and void. 1. The mortgage hereby covenants and agrees: ( a) To pay all and singular the principal and interest and other sums of money secured by this deed, promptly on the days respectively the same severelly became due. (b) To pay all and singular the taxes, assessments, levies, liabilities, obligations and encumbrances of every nature, on said described proverty each and every, and if the same be not promptly paid the Mortgagee may at any time pay the same without waiving or affecting the option to foreclose or any right hereunder and every payment so made shall be due from the Mortgagor on demand and shall bear interest from the date of payment at the rate of 12 1/2 per centum per annum. (c) To perform all of Mortgagor's obligations and to comply with the terms of the Declaration of Condominium, Articles of Incorporation, By-Laws and the Rules and Regulations - (the "Condominium Documents") for ATLANTIS III BY THE SEA, . which shall include, but not be limited to, the payment of all assessments and/or levies, regular or special, of every nature due under the Condominium Documents, and if the same be not promptly paid, the Mortgage may at any time pay same without waiving or affecting the option to foreclose or any right hereunder, and every payment so made shall be due from the Mortgagor on demand and shall bear interest from ' the date of payment at the rate of 12 1 2 er cent _ / p um per . annum. - ! ~ {d) To pay all and singular the costs, charges and expenses, including lawyers' fees and abstract costs, reasonably incurred or paid at any time by the Mortgagee because of the failure on the part of the Mortgagor to ~ perform, comply with and abide by each and every the stipu- lations, agreements, conditions and covenants of said ~ promissory note or notes and this deed, or either, and to ~ pay such reasonable attorneys' fees, costs and expenses as f may be incurred by Mortgagee in connection with any ~ proceeding or proposal for acquisition for public use of ~ all or any part of the property encumbered by this mortgage , by condem-nation or otherwise, and every such payment shall ` be due from the Mortgagor on demand and shall bear interest ` from the date of payment at the rate of 12 1/2 per centum ` per annum. I ; (e) To keep the mortgaged property now or hereafter on said ' land insured against loss by fire, windstorm and such other casualties as may be required by Mortgagee, in amounts and in a company or companies satisfactory to the Mortgagee and ~ the policy or policies shall be held by and payable to the ~ Mortgagee. In the event any sum of money becomes payable under such policy or policies, the Mortgagee shall have the ~ option to receive and apply the same on account of the 6tli0K ~1 P~GE J~O ~ ~ - .