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HomeMy WebLinkAbout0970 ~ 2327~+333 ~ i be required; and that it does hereby fully warrant title to said land and will defend the same againet the lawful claims of all persons whoaeoever. ~ PROVIDED, ALWAYS, AND TN~ESE PRESENTS ARE ON THE EXPRESS CONDITION THAT, ~ if the Mortgagor shall pay unto said Mortgagee the promissory note referred to ~ above, and sha11 perform, comply with, and abide by each and every the agree- ments, stipulations, conditions, and covenants thereof and of thia Mortgage, ~ then this Mortgage and the estate hereby created shall cease, determine, and be null and void. ; 3 i And the Mortgagor hereby further covenar~ts and agrees with the Mortgagee: ~ ; 1. That Hortgagor shall pay all and singular the principal, inter- ~ est and other sums of money payable by virtue of said Promissory Note and this ~ Mortgage promptly on the days, respectively, the same aeverally become due. ~ 2. That the Mortgagor will pay all and singular th~ taxes, sesess- ~ ments. levies, and encumbrances of every nature on the above described proper- ty, and upon this Mortgage, hefore delinquency thereof and receipts evidencing payment of said taxes, assessments, levies and encumbrance.s shall be deposited with the Mortgagee on or before February 28 of each succeeding year during the ~ terat of this Mortgage; and if same be not promptly paid when due, the Mortgag- ee may (without obligation to do so) pay the same, or become purchaser of any lawful evidence thereof, or certificate therefore, without waiving or affect- ing any right hereunder and in this Mortgage, or the said Note which this Mortgage secures; and such payments or expenditures so ma8e shall bear inter- est from the date thereof at the default rete stated in the note secured hereby (the "default rate"). 3. That all sums of money paid or caused to be paid by the Mortgag- ee under the terma of this Mortgage and herein specifically provided for, and ~ including any expenses incurred by the Mortgagee in collection of the sum secured by this Mortgage, shall be covered by the li~n of this Mortgage, the same as the sums of money represented by the Note which this Mortgage aecures. 4. To pay all and singular the costs, fees, charges and expenses of every kind and nature, including an abstract of title to the above described lands found to be neceasary or convenient in connection with anq suit for the foreclosure of this Mortgage, and also including a reasonable attorney's fee incurred or expended at any time by said Mortgagee after any default by the Mortgagor, in the foreclosure of this Mortgage or the collection of th~ amount secured hereby, each and every; and every such payment or obligation shall ; , bear interest at the default rate from the date the same may be made, and with ~ such interest shall be secured by the 2ien hereof. 5. To permit, co~it, or suffer no waste, impairment or deterio- ration of said property or any part thereof; to pay all costs in connection with any work done on said property, and if any mechanics' and materialmen's - liens be filed against the same, to cause the same to be discharged, paid, bonded, or otherwise satisfied or secured in form satisfactory to Mortgagee, within thirty (30) days after the f iling thereof, or within tWenty (20) days ~ after a suit for the foreclosure thereof has been filed, whichever date is r earlier. i i ~ ' ~ 6. To permit no lien or encumbrance (including ~ny junior lien or ~ encumbrance) to attach to or remain on the mortgaged premises, or any part or ~ portion thereof, without the prior written consent of Mortgagee. ~ 7. To keep the buildings or other insurable improvements which are now, or which may hereafter be erected on the land herein described and the personal property and fixtures referred to above, insured against all risks by fire and extended coverage in a sum not less than the full insurable value and such other hazard insurance as the Mortgagee may, from time to time require, at the expense of the Mortgagor in a gond and responsible insurance company or companies, licensed to do business in the State of Florida, and acceptable to the Mortgagee, for the benefit of Mortgagee, containing a loss payable . 2 BCGK ~~8 Pacf 97d x<