HomeMy WebLinkAbout1533 ~c) : hc "I3orro~~•cr" ~~•~il pay tu tl~c "L~nil~r". upnn d~mand, all ~x~~n~es of nht:~inint: such yudt:mcnt
~r a~;:rc and maaonal~ic comp~nsati~~n 1o thc "1.rndcr", ~t~ aUurn~ys and ngenla; a~d rll surh expenses and
compcrsat~on shall, unhl p»d, hc sccurcd by lh~ licn of lhis mo~t~a~;c.
(3) l~pon cvcry cuch c:~tonn~; upon or takinr of {u~~srcc?on. thc "I.cndei' may hold, st~re. ~~t~, operate~
manabe and controi th. Tir~ t~,~~d P~o~~crly ~nd conduct thc husiness thercat, ond, t~om time tn t~me
ma::. ~11 n~~~~car~• ~nd pm{x~~ m~~nlcnancc, r~pairs~ rcncwals. rcpinccmrnh, ~r1~1lti~n~, bettcr-
meni.~ attd u~iprovcau~~~tc thc~eto ~~~d thcicon wnd ~~urchnse or oth~~wke acquire n~lrl~ti~nal fixture~.
pe~sonaity and oth~~ p~~pcrty:
fi~) ii~surc or kccp thc Aiort~n~:c 1'ropcrty insurcd;
iiii) m~na~e :.nd n~~crate the Atorlr~~cd Properly arai ~x~rcise all thP n~hts an~i powets ot the
"Horco~ver" tr. ~La nimc or ntlur~~ ise~ with rc~~~cct to thc same;
iiv) ci~tcr ~ntn an~• ~n~i all a~~ccmcnic wilh respcct to the ex~rci~r by othcrc oi any ot thc powcr~
hcrcin y:ra:iicd thc "1.rnd~r",
eii as t~:~ "i.cnacr" fi•~m tim~ t~ lin:c may d~tcrmin~ to I~c to sle hcst ~dvs?nt~~c; and th~ °I.cndcr" mny
collect a:~d rec.~re all the ~nc~~~nc, r~~•cnucs, ~rnt~, ~~aucs and pro(~ts ot the samc, ~nciud~ng those past due as
well as thos.: accru~n~; thcrcaftcr, and, aftcr dcducting
(aa) All e~p.nscs ot takin~, hol<ling, mana~;in~, and opcr:?ting 1hc Mort~a~;cd Properi (inc:udinS
compcr.sat~on for thc ccr~•iccc of ~11 p~t~sons cmploycd for such purposcs);?G?ti2t24~CXi.p''.:tidC~~i:fr~4h'L{~sici~s
a wcixax.~c rcx~,~•..x~.-~wc ~eac,.~xa~e ~o~+cx,x~exxix~ac~racx~ax~at~.3cxKxa~~Kx.~"+o•tb~X+~tNet'ex K
x~~aex~c ~m~x xa~c~ea~axa~c~coa cax ~eot ~
(bb) The cost ot all sach maintcnance. ~epairs. renewpis. repiacements. odditions. betterments. improve-
ments and purcha~es end acquisiliont;
(cci The cost ot such insurance; ~
(dd) such taxes, acceccments and other charges prior to the lien ot this mortRage as the "Lende:" mty
determine io pay;
(ee) other propcr char~ce upon the Mortgaged Froperty or any part thereof; and
!fi) the reasonahle compencation. expen.ces and disbursements of the altorneys and aQenc of the
"Lender". ~
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s:.a~i apply the remainder oi tht moneys so rec~ived by 1he "i.ender". first to the payment oi accrucd interest•
second to the payment o[ tax depa~its required in Paragraph I.03 of Article 1; end third to the payment o: ,
overdue instaliments of princ~pal. '
te) 1Vhene~•er all that is due upon such interest, tax deposit anci principal ~nstallmcnts and under a~y
of the terms of this mortga~;e, chali ha~e been ~aid and a!i detaults macie ~ooc:, the "L,ende:" shaii surrer.de:
possession of ihe ~iortgaRcci f'roperiy to the 'Borrow~er", its successors or assi~ns. Tne same n;;nt of taking
possess~on, howe~er. sha{I exist it any subsequent Event of De:ault shall occur and be continuing.
2.04 Rtceirer. If any e~~ent of default shall nave occurred and be continuin,;. "Lenricr" shai: i?e en-
~::i:ed, as a matter of strict r~Ght and K•ithc~ut re~aed to the ~atue or occupa,cy ot the security, tn ha.•e :.-c-
ce:~e.- appotr.ted io entcr upon and takc ~x~csessi~n of the premises, coliect thc rentc sno proiits tn~ref:o:n
anc's apply the same as tlie coutt may r.;rect, sucn recciver to ha~~e ali the ri~hts anci powe:s permiltea unde:
t'r.e iaws of F3orida. The expenses, ~ncludinG receiver's fees, counse: fe~s, cos:s and a~;e~.'s co:nper.sat:oa, .r.-
curre~ aursuant to the aowers hercin c~nta~ned shall be sccu~ed here5y. : he r:~ht to er.ter and iake , o~s~s-
s:or. of said property, to manage and operate 1he same, to coilect the rents, issues a~d ~:ofits therco:, whe:he:
by a rece~ver or otherw~se, shall 1,e cumulative to a~y cther right or remedy here~nd~r or aiforded by :aw.
and m:.y i,e exercised concurrent therewith or independently thereot. "i.ender" sha:i be :iat?ie to accoun:
oniy ior sucn rents, iscucs and profits actualiy receivcd by ":~ender". whether received pu:suant to this Pa:a-
graph 2.04 or the prcccdm~ T'ara~raph 2.03.
2.05 "Lender's" i'nK•cr o! F.nforcement. If an Event of Default s~~all havc occurred ~r~~: i~e ;~ntin~-
:ng, t~c ":.endcr" may, eithcr vr~tl~ or without entry or takin~: posscssion as hcre:nabovc pro~~:dcd or othc:-
w•:se, proceed by swt ur sutits at law or in eGui~y or t~y any other appropriaie p:oceedin~ oc remedy <ai .o
er.`o-ce payrreni oi t1~c note or thc pcrformance of any tcrm hercof or any othcr ri~ht, ib) to forec:ose tt:is
' :r.ort~:.~e and to sel:, as an ent~rety or in separate lots or parceis, the tiSo:tgaged Property, :~nder tne juciti-
~ r.:e:~, o: Gecree of a court or courls ot competent juricdiction, :.nci (e) to pursue any other remedy availante
:o it, a;i as tne "Lender" shall deem mnct effectual for such purposes. The "Ler.der" shall take action eithe:
by s~ch proceecin~s or hy the exercise ot its pov?ers w~th respect to entry or tak:ng possession, ss tttie
; "i~e:~der' may determine_
2.Go Leascs. Tne "i.endcr", at the "I.endcr's" option, is authozizeu to ;o:rclose ttis morttia~,e suo}e.t
~ to t;e rignts o: any tcnants of thc Diorl~~~ed Properly, :.nd thc failure to make any sucn tenants ~ariies de-
~ fencanis to any sucn foreclosure proceed~ng and to foreclose their rignts vrill not he, nor be asserted to be
g by tne "Borrower", a defense to any proccedinqs ~nstituted by the "I.ender" to coliect tne sums secu: ed }:e: e-
~ by. or any aeficicncy remain~ng unpaid atter the toreclosure sale ot the :biortgaged Properiy.
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~ 2.U7 Ptincipal and Interest Become Due on Sait. Upon commencement ot suit or foreciosure of this mo: t-
: gage, ti?e uapaid principal of the note, if not previously declared due. and the interest accrued lhereor., shat:
~ :t once become and be ~mmediately due and payable.
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~ 2.G8 Purch~se by "i.rnder", Upon any such foreclosure sale, pursua~t to }udic~al procreai~;;s, tFe
":,er,der" may :n~d for and purchase the Mort~a~ed Property ano, upon compliance w~th t't~e :erms o: c~ie,
z tr.ay nold, reta~n and posscss and dispose o[ such ?roperty in its own absoiute ri~nt without further accounta-
. G:i•ty.
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~ 1-G~ Rpplic:tia-. of )ndebtednect ?oward Purcnaso ('rice. Upon any s::ch to: ecios~re czie. ~ ursuant to
~ ;uc.c.ai p: ~iceec~~~s, the "I,ender" may, ii permitted by ~aw, sfter a1low~r.~ for the proporcion of the totai .
` r~rc:~as2 pr:ce :cc,v~red to r~e paid m c~sh for the rnsts and expcnses oi the sale. comp~r.ca:son ar,d otner ~
c:.ar ;es. ~n p~y:r,~; the pur~nace ~ricc, apply to the , urchase pr~ce any pc~riion of or all siims ciu~ to the
":,cr.<:cr" cr.crr tnc nnte :+n~i this m~rt;;a~;c, in iicu of c~sh, to thc amouni which snali, :ipor. d~striT~ut:on ?
o: ti:e r.et procc•~•~s o! si:cF s:.~c, t>e payai~lc lhcrcon. ;
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~ i1G ~y~+ver o: Appra~~e~nent~ Valuaii~r., 5t:.p, F.xtemion, and rCedcmptior. I.aws. 'ihc "iiorr:.v.•c:" :~~,:..5 =
' :o ti:c :..i: ex:cr.: ;,crm~u~•d oy i:,w, that in casc of dc.'au.t c,n :ts p:+ct r:crcundcr, ncit}~c: :L•c "F3~rr.~~~•c:" ~
~ L~iT :.+'~f<%f~C G~:Tf~if1C; :GT4Ut,'h OT U(1C~CT )t SP1:1~~ Oi W1~1 SC: l1('i, Ci.il~T'i 0: SCCK LG l:1dC :~G~':.fl::ti;~ JS l.-~Y :~P- j
,-i:a.SCff.C:.:, Vb.U:+iiUA, SI:fY. a:X.Cf1S30I1 Ot TC(jCm~l~lOil ::IWS TiOW A: ~iCf~3:LC: 3~1 IOfiC, lil JI'C:l`: l0 ~:~\'C:1L l~.-
' :..ndrr tr~c cniorcerr.ent or toreclosure ol th~s mort~a~e, or ti-.e absoiute sale of ihc prop~rty hcrci,y :om•c~•c~, '
~ o: tnc ::r.a; :.r.d a:,so;utc putt~ng into possession thercol, immediatcl~• aftcr such sa:e, oi 1hc ps~rc: :.se: ~ th~ r.:.t. ~
ar.c L:.c "B~rrowcr", for ilsclf and a1: who may at any timc claim through or under ~t, hcrcby ~+•ai~•rs to thc ~
exicnt th:,t ~t rnay :awful?y so do, tbe f~enet~t ot aif such laws, and any and all right to hive the asse~a ~
camyr.sed in tne secur?ly intended to be created hereby marshalled upon any foreelosuce of the lien hereof
< :.r~d z.;rces th.t the "Lrnder" or ~nr court havin~ }urisdution W foreclooe such lisn may se:1 the biorcgay;ed ,
r Pro~erty as zn enUrety. '
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