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Home My WebLink About1993 F , ~ ~ R. ~.Q6. . f 6p~K. . , , f 2. To pay the indebtcclne~ hQreby ~eured and interest thereon promptly on Lho daye epeaified for tho ~amo = to b~coma duo and pe?yable, and also on demand any other indebtednesy that mny acaruu and beconle due and payabto to th~ mortgagee under thQ terms and proviaiona of thie mortgage; ~ F, 3. To keep tho mortgugect premises in gooci repair; tu ncither eommit nor a~~i~er ntrip or w~.9te on thQ n~or4~ i gagc.l premiscs; to obt~in tha written consent of tho niw•tq~gee beforo demoliahing, removing or materialiy altaring ~ ~ ~ nny building, atnacture ar improvement now or hereafter upon the mortgaged premi~ or before allowing any sueh : buitding, stnteture or irnprovement to ba derrtolishtd, removed or matBrially~ alterecl; not to commit nor s~~t~er any act by which tha vsluQ af the mortgaged premisea may be impaired; and not to viol8to nor pernnit thQ violalion of any law, by-IAw, ordinance or contract ~'ecting ~he mortgaged premises; not to violste nor suf~er the violt?t,ion of the cave- , nnnts and a~reemente, if any, of record againat the mortgngeci premisea; ~ 4. To pay before delinquent or before any penalty for nonpayment attachea theroto all tuxes, impoaitiona, aageasments, water ratee, and chArges of every naturo and to whomever assesseci that may now or hereafter be impo~ed, levied or as.~,ssed upon or agsinat the mortgaged premisea or any part thereof, or upon the rents, iasuea~ income or profits thereof, whether any ar all of said taxes, assessmQnts ~r charges bo levied direetly or indirectly or as ~xcisQ taxes or a8 income taxes; ~ b. T~ keep the buildinga and improvements now s#,anding or hereaftar erected upon the mortgagec~ premises and any and all epparatus, fixturea and appurtenanc~ now ar her+eafter in ar atta~ched to said buildings or improve- ~ ment~, insured against toea or damage by firQ and such othar hassrds as the martg~gee mny from time to time require~ ' , all auch insurance to be in forma, in companiea and in sums (not leas than sufi'ieisnt to avoid any claim on the part of ~ ths insurers for co-insurance) aatiefactory to the mortgagee; that 811 insurancQ policies shall be held by and shall be ~ ` ~ for tlie benefit of and first payable in case of loss to the mortgagec3, ancl that at least fi[teen daya before the expiration ; of each such policy, a new snd eufficient policy to take the place of tl~e one ao expiring ahall be delivered to the morb- : gugee. The mortgagor hereby assigns to the mortgagee all moneys recoverable uncler e~ch such policy~ and agrces + that in the event of a lo~a the amount colleeted under any policy of inaurancQ on ~s?id property may, at the option of ; the mortgagee, be appliecl by the mortgngee upon any indebtedness and/or obligation securerl hereby and in such order ~ ae mortgagee may determine; or said smount or any portion thereof may, at the opti~ of the mortgagee, either be used in replacing, repairing or restoring the improvemenfs partiatiy or totsity destroyed to a conditioa satisfactory to said ~ r~aort•gagee, or be released to the rnortgagor, in either of which events the mortgagee ehall not be obligated to aee to tha , proper applica~ion thereof; nor ehall the amount eo released or ueeci be deemed a paymenL on any indebt~edne~s aecured hereby. ~'he mortgagor hereby sppoint8 the mortga,gee atf,arney irrevocuble of the mortgagor to assign eaeh such policy in the event of th~ €oreclo~ure of this mortgage; • • 6. Ta pAy all sums, the failure to pay which may result in the acqui~ition of a lien prior to the lien of this rriortgage, before such a prior lien may attach; 7. That upon failure to comply with the prececiing covenant or with any of the covenants and agreements as to payment of taxes, impositions, aa~esamenta, water rates and charge~e, making of repaira or maintenance of insur- ance a~ afore.9aid, the mortgagee, without prejudice to any rights given under subsequent paragraphe herein, may • make advances to perform the same in b~half of the mortgagor, and the mortgagor hereby agrees to regay all suma ; • so advanced in hia behalf, on demand, with interest from the date advanced at the rate of eight per centum per unnum, ~ ~ and all suma so acivaneed, with interest ae aforesaid, ehall be immediately due and payable and be,~eeureci hereb"y, ~ having the benefit of the lien hereby created, and of its priority, but no such scivance8 ehall be deemed to r~lieve the ~ Z mortgagor from any default her~under or irapair any right or remedy conseqnent thereon, and the exercise of the right ~ . to make advances grantect in this paragraph ahall be optionsl with the mortgagee and not obligatory, and the mortgagee shall not in any ea.se be liable to the mortgagor for failure to exercise any auch right; 8. That the mortgagee shall be subrogated for further security to the lien, although released of record, of any ~ ~ and all encumbrances paid out of the proceeds of the loan securecl by this mortgage; { fl. That, while there is no default in the performance or observance of any of the covenants or agreementa ~ ~ herein contained, the mortgagor ahall have the privilege of collecting and receiving all rents accruing under leases or : contracts of tenancy for the mortgaged premises or any part thereof; . _ ; 10. That; if any action or proceeding be eommenced (excepting an act,ion to foreciose ttiia mortgage or to ' collect the debt hereby secured), to whieh action or proceeding the raortgagee is made a party by rcaeon af the exe- ; cution of this mort~gage or the note which it secures, or in which the mortgagee deems it necessary to~defend in order. _ : ; to uphold the lien of this mortga~;e or the priority thereof or posse.~sion of said mortgaged premises, all aums paid or incurred by the mortgagee for counsel fee.s and other expenaes in such action or proceeding shall be reps~id by the mart- , ; gagor, together ~vith interest tbereon from da,te of payment by the mortgogee, at the rate of eipht per centum per - , A.?_n~~rn; An~l All such x~~ma and Lhe interest thereon shall be iramediately due and payable and be eecured hereby, having ~ the benefit of the lien hereby created and of ita priority; _ i 11. That any and all awards heretofore made and hereafter to be made by the Ci~y af' `gort Pierce ~ or any municipal, county, etate or federal authorities to the preaent and all subs~quent owners ~f the premises covered by this mortgage, including any award or awarda whether fo~' a t~king of title to, pos.~sion of~ Qr eny interest in, the - mortgaqed premises oT any part thereof and any a~rard or awards teceived for damagea sustained by t~ie ~mortgaged - ; y' premises or any part thereof or for any change or changes of gracie of atreets a~'ecting said premise9, aYe hereby assigned ' to the mortgagee; and the mortgagee, at its option, is hereby suthorir.ed, directed and empowered to collect and re.ceive ~ the proceeds of any euch award or awarcis•frora the authoritiee making the same and to give proper reveipts and acquit- ' taiices therefor, and to apply the aame toward the payment of the araaunt owing on account of the mortgage debt~ ~ notwithst~anding the fuct that the amount owing on account of the mortgage cleht may not be then due and paynble• ~ snd the morEga{~or heeeby covenante and agrees to and with the mor tgagee, upon request by the mortgRgee, to make, { execute and deliver any snd all assignments and other instruments aufficient for the purpoae of assigning thQ aforesaid ~ award or~awarde to the mortgagee free, elear and discharged of any and all encumbranee$ of any kind oc nature what- scever; - - - , . ~ - 12. That any failure to exercise any right hereunder $}?all not ca?etitute nor be conetnied as a waiver of that right a~ any future time; ~ 13: Th~t this mortgage cregtea a continuing lien to aecure Lhe full and final payment of the debt hereby secured and ~ll other obligationA impoeed hereby and hereafter arising. NOW, if the paymenta are made as provided and all the foregoing ~ovenant$ and agreementa ar~e performed anc3 abeerved, this mortgage shall be null ana void and shall be releseed at the coat oi the mort,gagor, which cost the mortgsgor ag~ to pay; hut upon any de,fault in the payment o# the indebtedae~e herebp eecured or of any inatall- meat there~ or af inter~st thereon, ae they ecverally become due, or upon ar~y default in bhe performanoe or obeervance