HomeMy WebLinkAbout0945 said mortgaged property an~ will defend the same ayainst the
lawful claims of all persons whoinsoever.
PROVIDED, ALWAXS, that if the Mortgagor shall pay unto the
~ortgayee 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 stipulations,
agreemen~s, conditions and covenants of said Promissory Note ar
Notes and of this Deed, then this Deed and the estate thereby ~
created shaZl cease and be null and void.
1. The Mortyage 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 severally became due. -
(b) To pay all and singular the taxes, assessments,
levies, liabilities, obligations and encumbrances of every nature
on said described property each and every, and if the same be nat
promptly paid the Mortyagee :nay at any tiine ~ay the same without
waiving or affecting the option to foreclose or any right
hereunder and every payment so made shall be due from the
yortgagor on demand and shall bear interest from the date of
payment at the rate oF TEN 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 SEA POINTE TOWERS OF EORT PIERCE,
which ~sha11 include, but not be limited to, the payment of aIl
assessments and/or levies, regular or special, of every nature due
under thc Condominium Documents, and if the same be not promptly ~
paid, the Mortgage iriay at any time pay salne without waiving or
affecting the option to foreclose or any right hereiinder, and ~
every payment so made shall be due frorn the Mortgagor on demand ~
and shall bear interest trom the date of payment at the rate of
TEN per centum per annurn. _
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(d) To pay all and singular the costs, charges and
expenses, including Iawyer's fees and abstract costs, reasonably i
incurred or paid at any time by the Mortgagee because of the
failure on the part of the Mortgagor to perform, comply with and
ar~ide by~each and every the stipulations, agreements, conditions
and covenants of said Promissory Note or Notes and this Deed, or
either, and to pay such reasonable attorney's'fees, costs and
expenses as cnay be incurred by Mortgagee in connection with any
' proceeding or proposal for acquisition for ~ublic use of all or
't any part of the property encumbered by this Mortgag~ by
; condemna~ion or otherwise, and every such payment shall be due
; frocn the Mortgagor on demand and shall bear interest from the da~e
j of payment at the rate of TE(~ 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
~ coinpany 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 indebtedness hereby secured, or to
permit the Mortgagor ta receive and use it or any part thereof for
any other purposes, without thereby waiving or impairing any
equity, lien or right under or by virtue of this Deed, and the
Mortgagee may ~lace and pay for such insurance or any part thereof
without waiving or affecting the option to foreclose, or any right
hereunder, and each and every such payment shall be due from the
Mortgagor on dernand and shall bear interest from the date of
payment at the rate of TEN per cent~sm per annum.
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