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Home My WebLink About2959 2. To leavc with the mortgagee during the existenae of aaid note any abatract of title furnished to the mort- gagee. In the event of any fon~closure eale hereunder the mortgagee may deliver such abatract to the purcha~er at such sale and it ehaU beeome the property of such purchaeer. 3. To pay (a) beton the aame beoome ddinquent, aU taxea, assessrnenta~ ~?ata and ou;~r cha~ es upon or againat the prem~es or upoa ora~ainat this mortgage or said note, levied oc asseeeed ia Florida; and (b) anY othec chargea, liens. or encumbrances which ahall appear w be a lien prior to the Gen of this mortgage upon the premises or the buildings or othec 6xtures thereon. In default thereof, the mortgagee raay~ without demaad or nodce. either (a) pay and diacharge the eame~ or (b) may appear in an~? acdon for the enforcement thereof and defend or settle the same~ and its determination as to the walidity. ~riont3? and amount thereof shall be bi~ding upon th~ mortgag~or. . 4. To keep such buildings and other fixtures upon the premises insured against such hazards and in such amounts as may be required by the mortgagee. All policies of msurance and the renewals thereof shall be written upon forms and in companies satisfactory to the mortgagee,.be made payable. in cage of loss~ tv the mortgagee~ and shall~ with premiums Iully paid by the mortgagor. be del~vered at least fifteen (15) days before the expiration ef any old policy. to the mortgagee and held by it. In detault thereof~ mortgagee may procure such insucance and pay the premiums thereon. - In case of loss. mortgagee is authorized and empowered at its option to oollect and receive the prooeeds Imm any such policy. and after deducting from such insurance proceeds any expenses incurred by it in the eollection or handling thereof~ to apply the net proceeds~ at its elecdon, either to the restoradon of the property damaged or as a credit on ~any pordon of the unpaid balance of said note whether then matured or to mature in the future. S. To rnmmit or pecmit no waste on the premises~ to keep the buildings and other fixtures thereon in good condition and repair, and to cultivate and fertilize any improved pasture on the premises in a good husbandlike manner. In default thereof. the mortgagee may at its option remedy any waste or make any repairs and its de- termination as to the advisability or necessity thereof shall be binding ort the mortgagor. The ~~~~rtgagee is hereby ~ authorized to enter upon and take po~sion of the premises for such purposes. 6. To pay the mortgagee. immediately and without demand~ all sums which it shall pay or expend pursuant to the provisions of Paragraphs 3. 4 and 5 above. including oost of any tide evidence and reas~nable attomey'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 pra.~eeda of any judgment. award or aettl~nent in any condemnation or other proceeding for any damage to the premises. buildinga or other fixtures thereon, shall be paid to the mortgagee and shall, at its ; ' option, either be applied as a credit on any portion of the unpaid balance of aaid note~ whether then matured or to mature in the future. or be released to the mortgagor. 9. The mortgagee shall be subrogated to the lien~ notwithstanding its release of record, of any prior vendor's lien~ mortgage or other encumbrance on the prerhises paid or discharged from the pmoeeds of said note. 10. The mortgagee, at the request of mortgagor, may irom time to time and without notice. execute and deliveT.partial releases of any part of the premises from the lien of this mortgage without a~'ecdng either the personal liability of any person liable for the payment of said note~ or the lien of this mortg~age upon the remainder of the premises for the full amount of the note then remaining unpaid. The rights of any subsequent purchaser~ ' of any ~unior lienholder or of any other person or corporatioa in all or any part of the premises shall be subject i to such right of the mortgagee to execute and deliver such partial releases as aforesaid. : ~ 11. The entire debt secured hereby shall~ at the election of the mortgagee and without nodce or demand. ~ become immediately due and payable and this mortgage may be foreclosed in the ev~nt of (a) any default in the payment of any installment of principal or interest on said note or in the keepin~ and performance of any of the oovenants or agreements hereunder~ or (b) if the mortgagor~ without first obtaining wntten oonsent of the mort- gagee thereto, shall assign the rents or any part thereof~ fro~n the premises~ or shall oonsent to the cancelladon or surrenrier of any lease of the premises or any part thereof~ now existing or hereafter to be made~ and having an unexpired term of one year or more, or shal[ modify any such lease ~o as to shorten the unexpired term thereof~ or so as to decrease the amount of rent payable thereunder, or shall in any other manner impair the value of the prem- ises or the security of the mortgagee for the payment of the debt hereby secured. 12. In the event of any foreclosure hereof- (a) The mortgagor shall pay all costs and expenses thereof, including the cost of any title evidence and reasonable attorney's fees~ which sums. it not paid before suit is commenced, shall be added to the debt and secured hereby; (b) The mortgagee shall without notice be entitled to the appointment of a receiver to take charge of the mortgaged property, to rnllect the rents, issues and profits therefrom, and to care for same, w ithout proving insolvency or any grounds for e.rtraordinary relief, and the mortgagor hereby consents to such appointment, and such appointment shail be made by the oourt having jurisdiction thereof as a matter ~ of right to the mortgagee and without reference to the adequacy or inadequacy of the security or to the ~ solvency or insolvency of the mortgagor. 13. The transfer of the rents, issues and profits from the premises, here~nabove made.~s specific ~n nature and F irrevocable. So long as no de[ault exis~s in the payment of said note or in the keeping and'performance of mort- gagor's rnvenants hereunder, the mortgagor may o~llect and retain the currently accruing rents, issues and profits as they acerue, but in no event in advance of their normal aaxual date. In the event, however, of any such de- fault, mortgagor hereby expressly and irrevocably authorizes and empowers the mortgagee, its agents or attorneys. at its election and v~ithout notice to mortgagor, and as the appointed agent of mortgagor, to: - ; (a) Take immediate possession of and maintain full rnntrol and management over the premises; ~ (b) Oust tenants for nonpayment of rent; ~ (c) Lea..Qe all or any part of the premises on such terms as mortgagee may deem advisabie; ~ (d) Make alterations or repairs w•6ich mortgagee raay deem advisable; ~ (e) Receive all rents and other inoome from the premixs and issue receipts therefor. Out of the amount ~ or amounta eo received, mortgagee ahaU pay the ntoessary operating expenaes, inctuding a reasonable charge for managing the property. and shall then apply the net balance remaining in such manner as it ' may in its sole dixredon deem acivisable upon aay sums, advances or any other portion of the indebtcd- ' ness aecured hereby, and then rrnder any overplus to mortgagor. Mortgagee shall be aoeountabk ' only to the extent that wch renta and inoome are actually oollected. ~ OR ~ ~ 112 2~J4~ ~ ~ ~ _ - _ _ _ . . ~ ~