HomeMy WebLinkAbout0691 TOG~'t'HEIt WITH all and ~ingular the tenament.s, hereditaruentn and sppurtenancey thereuntu belongir~ ur in any-
~•i~~~ tlit•reunw appertai~ii?~ r?nd thc> rcmt,, i;sue, and prufit, therc~,i, and also nll the Fatate, riKht, title, inteeeat and all ciwim
a~ul ~i~u~an~i x~hatru~evrr, as w~c~ll in law• a.~ in ~{uity, uf \iurl~agur in ~nci tu the ~caine, includinq but m~t littiitt~l tu:
la) Ai! rk+nty, prufiu,, revt~nuex, ruyaltie~, righta und i~nefits drrivcxi frum (11 crups gruN~n un said r~+curity and pmduce
ut tLe ,uil utherwisc+ (2) uil, Ksi; ur ~nineral lea.+ex of thH preiui~N~ or any part thereuf, nuw exi3ting or hereafter niscie, with the
ri~;ht tu r~ivc~ and receip[ therefor nnd appl~• th<~ sa~ne tu the indebtedn~e aecureil hereby eitf~er befure or attar any defsult
ht+reundYr, anci `tort{~er may demand, sue ~ur snd recover anv such payments but ~hall not i~, reyuir~xi ao tu du, and (3) All
uther renta, isaue.s and pro8t:+ uf the Fremi,ew fru?u time t{~ time accruing, whether under leau+ss ur tenanciets now• existing ur
hen~after creatc~cl, rc+~e~vinK tu :~turtgag~r, huwever-, .o !or?g a., riurt~,ragor ir not in default hereund~r, the right to reovi~e~ snd
rrtairi the rents, ixwura and prufit, in clau:~es (1) and (3) herain.
~h) All juil~uents, swe?rd+ of dsniagt~ and settlemenGti hereafter macle rayuitinK troni condeninatiun prcee~din~ or the
!akinK of thh premi~y or any part thereuf urtc'ec the puw•er of etnineut domain, ar for any daxna~qe (whet,her ca~sed bv auch
takin~; or otherwise) to the pt't~tni~ ur the i?npruvem~nts thereon ur any part thereof, or to an~~ righta appurtenant t~ereto,
includi~iK ~ny award fur change of gratie uf streets. biurtgagee is horeby autharizeci, on behalf and in th~ name uf Mortga~;ur,
tu c~xecute and deliver valid acyuittancE~s fur, and tu appeal frum, anv such jud~rnents or sa•srtls. Mort{;a~;ee may apply all
tiueh sum, or any part th~ reut su rc>oeivc~l, atter ttre. pa~~ruer?t of a!1 u~ iG~ ex}~enYes, ineluding eoet~ and attorne~•s' fee.w, on the
indebt<xln~x secured hereb}• in such manner as it elec~~, or, at its uption, the entire amount or any part thertwf so reczived
inay~ be rel~eci.
TO HAVF AND 'CO HOLD the atx~ve granted and d~u;criF~ci pre~ni~es to blurtgagee, it~a sucoessora and assigns, forever,
and :~fort{~or does herNby fullv R~arrant the !itle to ~id land, and wiil defend the yame against the lawful claims c~f all peraons
whumsuever; pruvided always tf~at if l~iort{~a{;or ahail pay to Mort{~a,gee that certain prunussory note above describeci and shall
perfurm all other cuvenancs and condition~ of said prumisaorv note, and of any renewal, extensior? or mudificatiun therec~f,
and of thi:~ morcgage, then this rnortgage and the estate hereby ereated shall ec+ase and be null and void.
Aiortgagor further covenants and agrees with IV[ortgagee ns follows:
1. To pa~ all sums incluciing intere:~t secured hereby when due, es provided for in said promis~n- note and any renewal,
extension or mcxlification thereof and in this mortga~, all such sums to be payable in lawtul money of the L?nited Stat~e of
Americs at Murt{~agee'e~ aforesaid principal otFice, or at such other plsae ax Mortgagec~ may desiqnate in writing.
2. '1'u pa~~ ahcn ~lu~~, dn~l withuut rtatuirin~; anti• notice from ~1urt{~agee, al! taxc~s, S.RSPSSIIlNI1~5 Of SIIY t~•pe or iisture an~l
~~ti~e~r el~arKt~ti le~•icvi ur a~~e~ht~1 again~t the pren~i,e, here'iv eneumberecl and produce reeeipt,~ therc+fur upon demand. To
iiu~;icdiatt~l}~ px~• and ~i~cliar~{e anp ~laitn, lien ur encumbrance againsL such pre[nisE~ w~hich tua~~ be ~rr t~ecu~ne superiur to
this n~urt~a{;e and to permit ~w dc~fault or delinquenc}~ on any other lien, encumbranc~+ or char~e against such premisev.
3. If r«~uirc~ci by Mortgagee, to also make monthly deposits with Mortgagee, in a non-interest boaring account, together
w~ith and in addition to interest and principal, of a sum equal to one-twelftI~ of the yearly taxes a,nd at;seasments which may
be levied against the premises, and (if so required) one-twelfth of the yearly premiuma tor ~nsurance thoreun. The amount of
~uch taxe~, assessments and premiums, when unknown, Rhall be ostimated b~y Mortgagee. Such deposits ehall be used by Mortr
gage~ to pay suoh taxes, assessments and premiums when due. Any insutScieno • of suah aocount to pay such charges when
due~ shall be paid by Mortgagor to Mortgagee on damand. If, by reason of any ~efault by Mortgsgor under any pravis~on of
this mortgage, Mortgagee declares all sums secured hereby ta be due and payeble, Mortgagee mav then apply any funds in
said aocount against the entire indebtedness secured hereby. The enforceability of the covenantA refating to taxes, asaessments
and insuranoe premiuma herein othecwise provided shall not be aPfected exoept in ao far as those ehligations have been met by
complianoe with this paragraph. Mortgagec~ may trom time to time at its option waive, and afler any such waiver reinetste,
an~• or all provisions hereof requiring such deposita, by notioe to Mort~agor in writin~. While any buch wsiver is in e$'eet
~tort,gagor shall pay taxes, assessmenta snd inaurance premiums aq hereen ~lsewhere provided.
4. 'I'o promptly ~y all taxe~ and assessments asses~ed or leviecl under and by virtue of an}• state, fecieral, or munioipal
law ur regulatiurt hereafter passed, against 1~1ortKa,q~ upon this mort~a~;e or tl~e debt herob~ secured, or uEwn it~s interest
under this runrtgage, provicle~l hoyee•er, that the total amou~~t so paid for any sueh taxes pursuant t,c~ this paragraph together
~ti•itti the interest payable uri said indebtr~clness shall not esceeci the highest lawful rate of interast in E'luri~la and provide~i
further that in the event of the pa.s~e of any such law~ ar r~,~ulati~m, the entire indebtec~ne~s, Srrureci b~• thi~ murt~;a~;e stiall
th~~reupu~i bccome imtnediatel~• due an~l pa~~abie at the opti~~n uf Tiurtga{;ee.
5. To keep the premi~;es insured against loss or damage by fire, windstorm and such other hazards ae may be requirecl by
:~fortgsgee, in form and amounts satisfactory to, and in inaurance aompanies appmved bv Mortg ee, the policiea for evhich
insuranae shall be psyable to Mortgagee . 8uah policies, and abstracts aad other title evidenoe, aha~ be delivered tv and held
by~ :~Sortg~agee. Upon toreclosure uf this mortgage or other acquisition of the~ premiaea or any~ part thereot by 114ortgagee, said
poLcies, abstracts and title evidenee shall become the absolute property of Mortgagee.
6. To first obtain tho written consent of Mortgegee, such conaent to be granted or withheld at the sole diecretion of sueh
b7ort.g~agee, befure (a) removing or demolishing any building now or hereatter 6reeted on the premises, (b) slt~ring t,he ssr~r?ge-
I110I1t, design or structural chasseter thereof, (c) making any repairs whieh invobe the remuval of struc~tural parts or the exposure
of the interior of such building tu the elements, or (d) except for domestic purposee, eutting or rer:io~-ing or permitting the
cutting and removal of any trees or timber on the premises.
7. To maintaia premises in good condition and repair, including but not limitecl to the making of such repairs as Mortgagee
rnav from time to time detarmine to be necessary for the preservation of the premises and to not commit nor permit eny waste
thereof.
8. To comply w•ith all !uw•s, ordinances, regulations, envenants, condit:ions and re5trictions affecting the premises, and not
to suffer or permit any violation thereof.
9. If ~iortgagor fails to pay any claim, Gen or encumbrance a~hich is superior to this mortgage, or, when due, any tax or
a~sessment or insurance premium, or to keep the premisea in repair, or shall carnmit or permit waste, or if there be commenced
an}~ action or proceeding affecting the premises or the title theteto, including, but not limited to, eminent domain and bankruptey
or reorganization proceedings, then biortgagee, at its option, may pay said claim, lien, encumbrance, tax, a~scasrnent or premium,
with right of subrogation thereunder, may make sucli repairs and take such steps as it deems advisable to prevent or cure such
w•sste, and may appear in any sueh action or proeeeciing and ratain counsel therein, and take sueh action therein as Mort~a~ee
deeais advisable, and for any of said purpos~ Mortgagee may a~ivance sueh sums of money, including all coste, reasona~}le
attorney's fees and other item~ of expense as it deems necessary. Mortgagcje shsll be the sole judge of the legaliEy, validity and
priurit~• of any such claim, lien, encumbrance, tax, assessment and premiurn, and of the amount neceasary to be paid in satid-
faction thereof. D'Iortgagee shall not be held accountable for any delay in making any such payment, which delay may result in
any additional interest, costs, ehatges or ezpense otherwise.
10. tiiortgagor will ~y to biortgagee, ir~imeciiatety and without demand, all sums of money advanced bv Mortgagee pureiuant
to this mortga{~e, including all costs, reasonabte attorney's fe~; and other items af e~ense, iogether with intere.~t on c~ach such
acir-s~neement at the rate of ten per eent. (10i'cl per annum, and all sueh sums and intare.4t thereon shal! be seeured hereby.
11. A1L sums ot money ~ecured hereby shall bb payable without any relief whatever irom any valuation or appraisement laa•s.
12. If default be macie in payment of any installment uf princip~l ~r intere~t of sa,id note or anv part thercof wl~en due, or
in paytnent, when due, of any other sum secured hereby, or in pertormance of any ot Mortasqorjs obligations, covenantE or
agreements hsreunder, all of the indebtedness secureci hereby shall k~ecomo and be immediate[y due and payable at the option
of :~iortgaf;ee, w~ithout notice or demand which are hereb,y ezpressiy waived, in Khioh event M~rtga.gee may avail itaelf of
ail rig}rts and remediea, at law or in equity, and this mortgage may be foreclosed with all right~ and remedie~ affordeci by the
la~•s of Florida and ~tortgagor shall pay all costs, charges and expensas there~ot, including a reason~bla attorney's fee.
13. If default ba made in pa~ ment, when duo, of any indebteciness seeiirecl hereby, or in performanee of any of :1Sortga~or's
obligations, covenantA or agreements hereunder:
;a?) biort.gagee is authorized at any tirne, without notice, in its sole discretion to enter upon and take gassession of
the premises or any part thereof, to pertorm any acts blort{;agee deems necessary or proper to conserve the eecurity and to
cutlect and receivo all rents, issuos and profiGs ttiereof, including ttiose pa.vt due a~ well as th~se accn:ing thereafter, and
(b) Mortgsgee shall t~ entitled, as s matter of strict right and without regard to the value or occupancy of the secu: ih•,
tu havo a receiver appo~nteci to enter u~n and take pussession of tne premi~s, aollect the rents and profits therefrom and app~y
the sAme as the court may direct, auch receiver to have all the rights and power~ permitted under the lawa of Florida.
In either such case? ~fortgagee or the receiver inay elso take posac~sion of, and for these gurposes use, sny and all per:aonal
pmpert~~ containecl in the premis~ and u:x+ci by ~iort~ragor in the rental or lesAing thereof or any part thereof. The expense
(includ~ng receiver'~ fee:s, counsel fees, cos!s and a~;ent'~ compensation) incurred pun;uant to the powera herein contained shall
be ,ecured heret>~~. Tluetga~ee shall (after payment o[ aq costs and expenses incurred) apply stieh ronts, i~.guea and profita
r~reir•eci by it on the ind~,btedness seeured hereby~ in such orrier as Mc,rtgagae determines. The riqht ~n encer and take posseasion
of said property, to maria.ge and operate the same, and tu collect the rent~;, i~yiie.~ and profits thereo(, wheiher by a rece~ver or
utherwisP, shall be cumulative to anv uthPr right or remedv hereunder or ai~orued by law, and ms}~ be exercir~ecl concurrently
therewith or independontly thFrevf. ~Iortgagee shall be liable to acaount only fur such rent.~, is~ues and pro6ts ae;tuaUy received
by Mortgagee.
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