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HomeMy WebLinkAbout2077 ~ 2. To leave with the mortgagee during the existence of said note any ab~tract of title furnished to the mor[- gagee. ln the eve~t of any foreclosure sale hereunder the martgagee may deliver such abstract to the purchaser at such sale and it ahall became the property of such purchase:. 3. To pay (a) before the same become delinquent, all taxes, assessments, water and other charges upon or against the premises or upan Ar against this mortgage or said note, ltvied or asse.~ssed in H lorida; and (b) an~~ other charges, liens, or encumbrances which shall appear to be a lien prior t.o the lien oE this mortgage upon the premises or the buildings or other fixtures thereon. In d~fault thereof, the mortgagee may, without demand or notice, either (a) pay and discharge the same, or (b) may ap~c;ar in any action for the enforLement thereof and defend Gr settle the same, and its determinatic~n c~s to the validity, prionty and amount thereof shali 6~e binding uEion the murtgagor. 4. Ta keep su~h buildin~s and other firtures upon the premises insured ~gainst such hazards and in such amounts as may be required by the mortgagee. Ail policies oE insurance and the renewals thereof shall be written upon forms and in companies satisfactory to the mort~a~ee, be made payable, in case of loss, to the mortga~;ee, and shall, w~ith premiums fuily E~zid by the mortga~or, be delivered at least fifteen (ls) da}~s before the expiration af any oi~ policy, to the mortgagee and held by it. In default thereof, mortgagee may procure such insurance and pay the premiums thereon. In case of loss, rnortgagee is a~rthorized and empowered at its option tu collect and receive ±he proceecls from any such policy, and after deducting from such insurance proceeds any expenses incurred by it in the collection or handling thereof, to apgly the net procecds, at its election, either to the resloratio? of the property dan~a~ed or as a credit on any portion uf the unpaid balance of said note whether then matured or tn mature in the future. 5. To commit or permit no waste on the premises, to keep the buildings and other fistures thereon in ~ood condition and repair, and to ~ultivate and fertilize any improved pasture on the premises in a good husbaridlike manner. In ciefault thereof, the mortgagee may at its option remedy any waste or make ariy repairs and its de- termination as to the advisability or necessity thereof shall be binding on the mortgagor. The mortgagee is hereby authorized to enter upon and take possession of the premfses for such purpost:s. 6. To pay the mortgagee, irnmediately and without demand, all sums which it shall pay or expend pur~t~ant to the provisions of Paragraphs 3, 4 and 5 above, including cost of any title evidence and reasonable attorney's fees, together with interest thereon from date of expenditure until paid at the rate of ten percent (10%) per annum, and if not so paid by the mortgagor, all such sums shall be added to the debt and secured hereby. 7. The mortgagee, by any authorized agent or employee, may enter upon and inspect the premises at any reasonable time. 8. The net proceeds of any judgment, award or settlement in any condemnation or other prnceeding for an~~ damage to the premises, buildings or other f~xtures thereon, ~hall he paid to the morc~a~;ee and shall, at its option, either be applied as a credit on any portion of the unpaid balance of ~aid note, whether then matured or to mature in the fuiure, or be released to the mortgagor. 9. The mortgagee shall be subrogated to the ti2n, notwithstanding its release of record, of any prior vendor's 1ien, mortgage or ather encumbrance on the premises paid or discharged from the proceeds of said note. 10. "Che mertgagee, at the request of mortgagor, may from time to time and w~ithout notice, execute and deliver partial releases of any part of the premises from the lien of this mnrtgage without aPFecting either the personal liability of atry person liable for the payment of said note, or the lien of this mortgage ugon the remainder of the prerr~ises for the fuli amount of the note then remaining tanpaid. 'The rights of any subsequent purchaser, of any junior lienholcler or of any other person or corporation in ali or any part of the premises shall be subject xo such right of the mortgagee to execute and deliver such ~artia! relea~es as aforesaid. I1. The entire debt secured hereby shall, at the efection of the mortgagee and w•ithout notice or demund, become immediately due and payable and this mortgage may be foredosed ii~ the event of (a) any default in the payment af an~~ installment of principai or interest on said note or in the ~ceeping and performance of any of the covenants or a?;reements hereunder, or (h) if the mortgagor, without first nbtain~ng wntten consc:nt of the mort- gagee thereto, shail assign the rents or any part thereof, from the premises, or shall consent to the rancellation or surren~er of an~~ ]casP of the premises or any part thereof, now existing or hereafter to be made, and having an unexpired term of one year or more, oi• shail modify any such lease so as to shorten the unexpired term thereof, or so a~ to decrease the amo;~nt of rent payable thereunder, or shall in an}~ other manner impair the value of the prem- i~es or the security of the mortgagee for the payment of the debt hereby~ secured. 12. 1n the event of any foreclos~re hereof- (a) The martgagor shall pay all cust5 and expenses thereof, including the cost of anv title evidence anr3 reasonable attorney's fees, w~hich sums, if not paid before suit is commenced, shal( be added to the debt and secured hereby; (~~ti The mortgagee shall w~ithout notice be entitled to the appointment of a receiver to take charge of the n:ortgaged propertv, to collect the rents, issues and profits therefrom, and to care for same, w~ithout provin~ insol~~enc}r or any ground~ for extraordinarv relief, and the mortgagor hereby consents to such appointment, and such appointment shall be made by the cuurt havin~ junsdiction thercof as a mattcr of nght to the mort~agee and ~vithout reference to the adequacy or inadequacy of the security or to the ~Ivenc~~ or insalvency of the mortgagor. 13. The transfer of the rents, i~sues and profits Erom the premises, hereinabove made, is specific in nature and irrcvocat~le. So lor.g as no default exists in the payment uf said note or in the keeping and perforcnance of mort- ~ gagor's Covenants hercunder, the mortgagor may~ collect and retain the currently accruing rents, issues and prohts > as they a~crue, but in no event in advance of their normal ~ccrual date. In the event, howAver, of any such de- ~ fault, mc,rtgagor hereby expressly and irrevocably authorizes and empowers the mortgage~, its agents or attorneys, at its election and ~~-ithout notice to mortgagor, and as the a~puinted a~ent of mortgagor, to: (a) _ Take immediate possession oE and maintain full control and manager~eutsver the premises; (b) Oust tenants for nonpayment o: rent; ~ (c) I.ease al! or any ~1rt of the premises on such terms as mortgagee may deem advisable; (d) ~Iake alterations or repairs which mortgagee may deem advisabte; _ (e) Reccive all rents and other income from the premises and issue receipts therefor. Out of the amount or amounts so rece~ved, mortqagee shall pay the neces..sary ~~erating expenses, including a reasonabte charge for managin~ the property, and shall then apply the net balance remaining in such manner as it may ~n its sale discretion deem advisable upon any sums, advances or any other portion of the indebted- ness secured~hereby, and then render any overpius to mortgagor. Mortgagee shall be accountablQ only to the extent that such rents and income are actvally collected. q ; BOOK 1~~ ~