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HomeMy WebLinkAbout0971 Notes and of this Deed, ~hen this Deed and the estate thereby created shall cease and be null and void. 1. The Mortgaqe 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 not promptly paid the Mortgagee may at any time pay the same without waiving or affecting the option to foreclose or any right hereunder and every payment so made shall be due from the Mortgagor 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 FORT PIERCE, which shall include, but not be limited to, the payment of all assessments and/or levies, regular or special, of every nature due under the Condominium Documents, and i.f the same be not promptly paid, the Mortgage may at any time pay same without waiving or ~ affecting the option to forec2ose or any right hereunder, and every payment so made shall be due from the Mortgagor on demand and shall bear interest from the date of payment at the rate of ten ~er centum per annum. (d) To pay all and singular the costs, charges and expenses, including lawyer's fees and abstract costs, reasonably incurred or paid. at any time by ~he Mortgagee because of the failure on the part of the Mortgagor to perform, comply with and abide 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 may be incurred by Mortgagee in connection with any proceeding or proposal for acquisition for public use of all or any part of the property encumbered by this Mortgage by condemnation or otherwise, and every such payment shall be due from the Mortgagor on demand and shall bear interest from the date of payment at the rate of ten per centum per annum. (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 company 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 aption ta receive and apply ~ the same on account of the indebtedness hereby secured, or to permit the Mortgagor to 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 place 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 demand and shall bear interest from the date of payment at the rate of ten per centum per annum. (f) To keep the mortgaged property at all times in good order and repair, and to permit, commit or suffer no waste, impairment or deterioration of said property or any part thereof. (q) To perform, comply with and abide by each and every the stipulations, agreements, conditions and covenants in ~ said Promissory Note or Notes and in this Deed set forth. f - Z - " ~ 5`79 F,fE ~~9 8u~~r ~ _ - - - - = ~L"'-„~,raR .