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Home My WebLink About0020 i ~ ~ 2, To pay the indebtadnesa hereby eauure,d nnnd i~Lereet thereon promptly on the days epeoifi«i for ths a~me ~,o become due and payable, and also an demand any other indebteclnese that msy aoorue end beoome due anrl payabla to tho mortgugee uuder the ternae and proviaiona of this martgage; ' ~ ~ 3. To keep the mortgaged premisee in good repair; to neith~r eommit nor ~uf~er atrip or waste on the mort- j gaged premi~es; to obtain tha writtsu eonsent of Lhe mortqages before demuliehing, ronioving or materially altering i any building, etructure or imprnvement now or heresfter upon the mortgaged premis~ or before allowing any such ~ building, etructure or improvemant to be demolished, removecl or materially'altered; not ta commit nor suf~ar any act by which the value of the mortgageci prem?°~ may be impairerl; and not to violate nor permit the violation of tiny ~ law, by-law, ordinance or contract aPfecting the'mortgaged premises; not to violate nor auPfer the violation of the cov~- 's ' nar~ts and agreements, if any, of record against the mortgaged premises; i 4. Z`o pay before delinquent or before any penalty for nonpayment attaehes thereto t~li taxee, impositions, , : • asse.ssments, water rates, and charges of every naturo and to whomever assessed that m~y nonr ~r hereafter ba imposed, ~ lavie~i or assesaed upon or against the mortgaged premises or any p~rt thereof, or upon the rents~ issuea, income or ~ • profit~ thereof, whetlier any or all of eaid taxes, assessmenta or chargea be levied directly or indirectly or ae excise taxea + or as ineo:ne taxea; - . ~ b. To keep the buildinga ewd improvemente no~v etanding or t~ereafter ereeted upon the mortgaged premiaes i aad any and s1I apparatua, fixtures and sppurtenances now or hereaEter in or attache~ t,o eaid buildings or improve- meuts, in$ured againet lose or damaga by Sre a.nd such other hazards as the mortgagee may from tuna to time require, all aueh insurance to ba in forma, in comptwies and in eums (not leas than suf~icient to avoid any claim on the part of the inaurere for co-inaurance) satiafactory to the mortgagee; that all insurance policies ahall be held by and shall be . ~ for the beuefit of and 6rst payable in case of loes tv the mortgagee, and thAt at least fifteen daya before the expiration ~ of eaeh such policy, a new and sufficient policy to take the place of the one so expiring ehall be dQlivered to the mor~ . gagee. The mortga~or hereby aasigns to the mortgagee all moneye recoverable under each such poliay, and agrees ~ that in the event of a loss the amount collected under any poli~y of inauranee on said property may, at the option of the martgagee, be applied by the mortgagee upon any indebtedness and/or obligation secured hereby and in such o.rder as mortgagee may determine; ar said amount or any portion thereof msy, at the option of the rriortgagee, either be used in replacing, repairing or restoring the unprovements partially ar totally destroyed to a coudition satisfactory to said martgagee, or be rele,a$ed to the mortgagor, in either of which events the mortgagee ahall not be obligated to ~ee Lo the ' proper application thereof; nor ahall the amount ao releafied or u$ed be deemed a payment on any indebtedness secured ' h~reby. The mortgagor hereby appoints the mortgagee attorney irrevocable of the mortgagor to assign each such policy in the event of the forecloaure of thi~ mortgage; , ~ 6. To pay sll sums, the failure to pay which may result in the acquisition of a lien prior to the lien of this mortgage, before such a prior lien may attach; . 7. That upon failure to comply with the preceding covenant or with any of the covenanf+s aind agreementa ~ as to payment of taxes, impoaitiona, ~assessments, water rates and eharges, making of repairs or ma,intenance of insur- ~ ance as aforesaid, Lhe mortgagee, without prejudice to any rightaa given under euT~eequent paregrmphs herein, may . make a.clvance$ to perform the aame in behalf of the mortgagor, and the martgagor heret~y agrces to repay a11 suma so advanced in hia behalf, on demand, with interest from the date advanced at the rate of eight per centum per annum, ~ and ali sums so adeanced, with inf,erest as aforesaid, shall be immediately due and payable and be secured hereby, _ having the benefit of the lien hereby created, and of ita priority, but no auch advances shall be dcemed to relieve the mortgagor fram any default hereunder or impair any right or remedy consequent thereon, and the exereiae of the right to make advances granteti in this paragraph ahall be optional with the mortgagee and not obligatory, and the mortgages shall not in any case k,e liable to the mortgagor for failure to exeroise any such right; 8. That the mortgagee ahall be subragated for further security to tbe lien, although released of record, of sny and all encumbrances paid out of the proceeds of the loan secured by this mortgage; ~ 9. That, while there is no default in the performance or observance of any of the covenauts or agreements . herein contained, the mortgagor ahall have the privilege of ~collecting snd receiving atl renta aceruing under lea,.ges or " contracta•of tenancy for the mortgaged premises or any part thereo£; 10. That, if any action or proceeding be commenced (excepting an action to foreelose this mortgage or to collect the debt hereby secured), to which aetion or proceeding the mortgagee is made a party by reason of the exe- - . cution qf this mortgage or the note which it secure~, or in which the morg,gagee deem$ it necessa?ry to defend in order to uphold the tien of this mortg~ge or the priority thereof or po.gsession af Ssid mortgaged premises, s1I suma paid nr incun~ed by the mortgagee for counsel feea and other expen~es in such action or proceeding ehaU b@ repaid by the mort- gagor, together wi~h interest thereon from date of pgyment by the mortgagee, at the rate ot eight per cenLum per annum, Rnd aU such sums and the interest thereon ahall be imraediately due aud pay~ble and be seGUred hereby, having _ the benefit of the lieu hereby created: and of its priority; 11. That any and all awarde heretofore made and hereafter to be made bythe City of Fort Pierce or any muuicipal, county, state or federal authorities to the present and all eubsequent ownere of the premises covered . by this martgage, including any award or~awards whether for a taking of title to, poese.seiou af~ or any interest in, the r~?ortgaged premises or any part ther~of and any award or awards received for damages eustained hy the martgaged • premises or any part thereof or for any change or changes of grade of atreets affecting said premiees, are hereby assigned to the mortgagee; and the mor~gagee, at its option, is herehy authorised~ directed aad empowered to collect and receive ~ • the proceeds of any such aA~ard Qr awarda from the authorities makeng the same and to give proper receipts and acquit- ~ t~nces therefor, and to apply the same toward-the payraent of the amount owing on account of the mortgage debt, natwithetanding the fset that the arnount owing on aceount of the mortgage debt may not be then due and payable; and the mortgaRor hereby covenante and agrees to and with the mortgagce, upo~n request by the mortgagee, to make, ~ execute and deliver any and all aesignments and other instruments au~cient for the purpoee of assigning the aforesaid awsrd or awards.t~? the mortgagee free, clear and discharged of any and ail encumbranoes of any kind or nature whaL- . 8oever; - _ j,~. _ f ~ . . . 12. That aaay failure to exereise any right hereunder shall not coustituta nor be eonatrued a$ ~ waiver of that right at any future time; ~ 13. That this mortgage cr~ates a continuing liea to secura the full and 6nal payment of the debt hereby eecured and alt other obligations impoeed hereby and hereafter arising. . _ NOW, if the paymeut8 are m8de as provided aad aU the foregoing eovenants and agreements are performed . and obaerved, thia morLgage ahall bs null aad void and shall be releaeeci at the ca~t ut the mortgagor, which cost tk~ ~flrt8a8~' a8~ ~ PaY, but upon aay default in the payment of the indebtedness hereby eecured ar af any inat,~ll- meat thereof or c~f interest thereon, aa they eeverally becorne due, or upon any default in the perf$ ~ an~e or obeervsace ~r n~ I - . ea~~ ~uc~ iAcE 2Q i w~.~a~iT~an~e~r~Fn+:-T.... S~e:~C.1+RA~R~e~.~ww+..~.s.....-~_ _ _ ~ _ _ _ ' I