HomeMy WebLinkAbout1929 1
TOGIETHE$ WIZ`II a!t and singulflr ihe tenelnGrlt~, herexlitamenta~and appurt~nances thereunto bolon~ing or in any-
ti~•iso thorounto appoN~ining and tho rents, is~uc~ and p~'o8ta lhereot, and•also all iho ostt?te, rigLt, tille, intercc~t and all claiui
and ~IE?IllAill~ ~1'}1R~SODYer, ns w~II IIl ~AH~ a.g in cK~uity, of :~fort~,~agor in and to the sa~ne, inoluding but not limite:i to:
(a) All mnts, profits, rc~~•en~~ea, royaltic~, rightx euid Uenc~ftts deriveci ironi (1) orops grown on seid scourity and producc~
of tlic~ soil otherw~ise (2) oil, ge;s or tninerol leases oi iho pretnist+s or any part theroot, now~ exibtiug ur hereatter made, a•ith the
right to reoeivo and recaipt tllerofor and apDb• tho samo to the indobtedness sooumd horob~• oithor Uetoro or after any detault
horeunder, and rtortgsgee ma}~ demand, tiuo far ~n~l reouvc~r any su~h paymonts but shail not ba n,~uireil so to du, and (3) all
other rents, issuea end proftta of the pro~~~isc~s [ro~n timo tu timo aecru~ng, W~h~ther under leases or ienaneic~ now exisling or
l1NCi3i}ll"a3C Ur~311~i1~ Pf~i ~`iii Ci~ ~i~i f~{'-tii, i0'r.'o:'i:i•, 3i3 ii;i,s ia3 ::iva'i~~Ji lS ROt tR t~EfaU~l ~1nfYTllAi~~-C, l~:L~ ftg~:t: ~:1 f~ .'~i:'8
retc?in the rents, issuea an~ proftte in~c auses (1) and (3) horoin.
(b) All jucigmenta, awanla of damagos nnd settle~uonts herexftor ma~lo resuHing fro~n condeii~natio.i prooeeclin~ or tho
laking of the pren~isc~.g or any part thoreof undor tha po«•er of on~jnont, dotnsin, or for any dsmage Swhother eauseci by suoh
taking or othenvise) to the pronusc~s or tha improvemants thc!roon or any par6 thereof, or to any n~;hts t~ppurtenant thereto,
including any awanl for ohango of gracio of strec~ts. 1lturtgagoo is horoby autl~orizoci, on boh~U and ~n tho namo ot ~iortgagor,
tu oxooute nnd deliver valid aoquittAncas [or, and to appetil froin, any sueh judgments or awards. rtortgaqee mey Rpply~ all
suoh sums or any part there~f so receivcxl, aftor th~ payment of all o[ its oxponses, inetuding costa and attorneys' f~s, on tho
indebteclnoss s~our~ci horeby in suoh manner as it oloots, or, at ita option, iho ontiro an~ount or nny part thoreoi eo recaivcxi
may be releasecl.
TO HAYE AND TO AOLD the abovo granted and desuribed premis~ to 111ortgagee, its suco~ssora and tsssigns, foraver,
snd hiort~or does hcro6y tully warrant the titTo to said l~nd, and w•i!1 defend the same against tho law[ul olai~us of all persons
whomsoever; providecl always that if rio~tgagor shall pay to 1liortgagec~ ihat cortain promi~.,ory note abuvo de.,cribed and shall
perform all otiior covena~?ts [ind conditions o[ said promissory nota, and of any rnnew~at, esteneion or mocii8cation thereof,
and of this murtgage, then ~his mortgage t~nd the estate horeby orcjatecl shaU ccjase ~id be null and void.
111ortgagor furthor covenants and aqrees wifh D'Iortgagee as tollows:
1. To p~y e?!1 sums inoluding inteefsst seoured horeby w~hen due, as provided for in said promissory note and a~ny renewal,
axtension or lnodifteation thereof and in this mortgage, a!1 auch sums to be payable in lawful money of the Uniteci Statea of
Ameriea at 111ortgagee's atoresaid principal ot~ice, or at suoh other place as Diorigageo.may designata in w•riting.
2. To pay u~hen due, and w•ithout reryuiring any notic~ from :~4ortgagee, alt ta!ces, asst~ssments of any typo or naturo and
otl~er eLarges levieci or assassed ngainst the premises hereby encumbered And procluce recripts therefor upon demand. To
1R1TAE'(IIAtC~\• pa>• and dischargo an}• clain~, lien or encumbranco against suoh premis~ w•hiah may bo or bocome superior to
tliis tnortgago and to p~rinit no defat~lt or delinquenoy on any other lien, encumbrance or ol~arge against suo}i prei~iisc~v.
3. If requirec: by l~iortgagee, io also make monthly deposits with I~iortgsgee in a non-interest bearing aceount, togekher
~vith and in acidition to intereat and principal, of a aumeq ual to ono-tw~eUth o! t~e yearly tsxes and assesaments whioh m~y
bo leviod against the premises, and (i[ so required) one-tweUth of the yearly pr~emiums for insurance thereon. The amount of
such taxes, assc~sraents and premiuma, Hhen unknown, shsll be estimated b~y Mortgagee. 3uoh deposits shall be used by Mort-
agea to pay suoh taxes, assessments and premiums when due. Any insu~ioieno of such i?coount to pay euoh ohsrges when
. ~ti i~ ti.,. ~~a ~3 i?.~~.'..,~~~ r~ ~i~rt
~eg on dem~.nd. bY re~n ef ~y ~wfn~~~~. hy 1~1o!'t~a~o~nr t~nt~Hi Any nrr?yi~i~n ~f -
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this mortgage, Diortgagee leelar~ aA sums secured hereby to be due and ~ayable, DTortgagee may then apply any funds in ,
' seid aocount against the entire indebt~dness secsured hereby. The entorceability ot the covenants relatin~ to tuxes, assessments
~nd insuranoe premiums herein otherwise provided shall not be affeoted sxcapt in so far ss those obligations have b~en met by '
complianae with this paragraph. Mortga~oe may from time to time at its option wsive, and atter any suoh waiver reinetate, ,
~ any or all provisions hereof requiring suoh deposits, by notice to DSort~agor ~n writinb. While any suoh aaiver ia in eHeat ,
• hiortgagor shall pay taKes, assessments and insurance premiums as herein elsowhere provided. .
4. To promptly pay all taxes and assessments assessed or levied under and by virtue of any state, fecleral, or municipal
law or regulstion hereafter passed, against I~iortgageo upon this mortgago or the debt hereby secured, or upon its interest
under tl~is ~nortgage, providecl however, that the totsl amount so paid for any suc6 taxes pursuant to this para;raph together
~cith t6e intercet paynbla on ssid indebteciness shall not excaecl the high~t !aw•ful rate of interost in Flonda and prov~deci
further that in the event of the passago of any such law• or regulation, the antire indoUtedness sc~eured by this mortgage shall -
thereupun bacomo immediately due and payablo at thQ option of I~iortgagae.
5. To keep the premises insuredag sinat loss or damege by Sre, windstorm and suoh other hnzerds as may bereq uired by
I4Tortgagee, in torm and a?nounts satisfaotory to, and in insurance companies approved by Mortgagee, the policies for whioh
insuranoe shall be payable to l~iortgagee. Suoh polioies, and abstrao~s and other title evidence, eh~ 1 be delivered to and held
by Mortgagee. Upon [orecslosuro of this mortgage or other aequisttion of the premises or any part thereof by Mortgagee, said ~
polic~ies, abstraats and title evidenoe ahall beoome the absolute property af Mortgagoe.
6. To first obtain the written oonsant of hiortgage~, such oonsent to be granteci or withheld at the sole disoretion of suoh
riortgageo, before (s) removing or demolishing any build?ng now or hereafter erected on the premises, (b) altering tho arrange-
ment, design or struotural eharaoter thereof, (a) making any repaira whiah involvo the removal oi struotural parts or the exposure
of the interior of such building to the elementa, or (d) except for domestia purposes, outting or removing or pormitting the
cutting and removal of any trees or timber on the premises.
7. To maintain premisc3s in good condition and repair, including but not limited to the making of sueh repairs as biortga.gee
may from time to time determine to be neoessary for'the prwervation of the premises and to not commit nor permit any waste
~ thereof. •
8. To compl~ with all laws, ordinances, regulations, covenants, conditions and restriations effeoting the premises, and not
to suffer or permit any violation thereof.
9. If biortgagor fails to pay any olaim, lien or enoumbranee. which is superior to this mortgage, or, when due, eny tax or
sssessment or insurance prem?um, or to keep the premises in repair, or shall commit or permiL waste, or if there be commencecl
any aetion or proceeding at~eating the premises or the title theteto, including, but not limited to, eminent domain and benkru~tay
or reorganization ~roceedings, then Mortgagee, at its option, may pay said claim, lien, encumbrance, tau, assessment or premium,
with right of subrogation thereunder, may make such repairs and take suoh ateps ss it dsems advisable to prevent or esure such _
waste, and may appear in any sueh aotion or pmoeeding and retain counsel therein, and tAke such action therein as I~iortgagee
deems advisable, and ior any ef said purposes Diortgagee may advance such aums of money, ineluding all costs, reasonable
attorney's fees and othor items of exgense as it deems necessary. Mortgagee shall be the sole judge of the legality, validity and
priority of any such olaim, lien, encumbranoe, tax, assessment and premium, and ot the amount necessaty to be paid in satis- ~
faotion thereot. Diortgagee shall not be held accountable for any delay in making any auch payment, whioh delay may result in ~
any additional interest, oosts, ohargos or expense otherwise.
10. blortgagor will pay to Mortgagee, immsdiately and without demand, all sums of money advanced by biortgagee purausnt :
to this mortgage, inolud~ng all costs, reasonabte attorney's fees and other items of expense, together with interest on each suoh :
advancement at the rate of ten per cent. (10%) per annum, and all such sums and interest thereon shall be seeured hereby. +
11. All spms of money secured heraby ahall be payable without any relief whatever irom any valuation or appraisement lawe. :
12. If defeult be made in payment of any inatallment ot prineigal or interest ot said note or an~ part thereot w~en due, or ~
in payment, when due, of sny other sum seaured hereby, or in performance of any of Mortgagor s obligstions, covenants or
sgreements hereunder, all of the indebtedness seaured hereby shall };ecome end be immediatety due and payabie at the option
of Mortgagee, without notiae or demand whioh are hereby expressly waived, in whioh event Mortgagoe may avail itself of
a!1 rights and remedies, at law or in equity, snd thia mortgage may be Eorealosed with all rights and remediea agorded by the ;
laws oI Florida and I1Zortgagor aha~ll pay all casts, ahnrges and expenses thereot, ineluding a reasonable attorney'e fee.
13. If default be made in payment when due, of any indebtedness seaured hereby, or in pertormanee of any of Mortgagor's
obligations, covenanta or agreements ~ereunder:
(s) l~iortgagve is suthorized at any time, without notice, in its eole disaretion to enter npon and tako possession of ;
th6 premis~ or any part thereof, to pedorm any aots riortgsgee deems necessary or proper to conserve the security and to ~
colleot end receive aU rents, issues end proflts thereot, inaluding those past due es well us thoae aocruing thereafter, and ~
(b) 111ortgagee ahall be entitled, as a mstter of striat right and without regard to the valuo or ooaupsnoy of the security, ~
to have a rece?ver appointed to enter upOn and take possession ot the premises, colleat the rents and proflts thereErom and apply ~
the same as the court msy direct, euvh receiver to have all the rights and powers permitted under the laws of Florida.
In either suah case l~fortga~ea or the receiver may also take possexs:on of. and for these purposes use, any and all personnl _
property contained in the premtses and used by riort~agor in the rental or leasing thereot or any part thereof. The eapense
(including ~xeiver's fees, counsel fees, costs and aqent s oompensation) inoutred purauant to the powers herein contained shall
be secured hereby. biort shall (after payment of all costs and sxpene~ incuned) apply auoh rents, issues and pro9ts ~
received by it on the indebt n~a secured heroby in such order as Mortgsgee determines. The right to enter and take possession ;
of sa,id property, to manage and ogerate the same, and to colleot the rente, iasues and proflts thereof, whether by a receivor or ~
otherwise, ahall be avmulat-ive to anp ~other right or remedy hereunder or a~orded by lavQ, and may be exorcised conourrently z
therewith or independently thereof. Mortgagee ahall be liable to acaount on~y for such rents, issuea snd pro8ta awtually rec~eived ~
bp biortgagee. ~
U k 1~8 ~ ~23 ~
BOOK ,
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