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Home My WebLink About0573 any provision of this Mortgage. Mortgagee declares all such sums secured , hereby due and payable. such deposits shall become the property of Mortgagee and a security deposit therein is hereby created. The enforceability of the ~ convenants relating to taxes and assessments herein otherwise provided shall ~ not be affected except in so far as those obligations have been met by compliance with this paragraph. Mortgagee may from time to time at its option waive. a` and after such waiver reinstate, any or all provisions hereof requiring such deposits, by notice to Mortgagor in writing. While any such waiver is in effect, Mortgagor shall pay taxes and assessments as herein elsewhere provided. 4. To promptly pay, or, upon its request, reimburse Mortgagee upon demand for its payment of, all taxes (except federal and New York State income ~ taxes) and assessments assessed or levied under and by virtue of any state, federal or municipal law or regulation hereinafter passed~ against Mortgagee upon this Mortgage or the debt hereby secured, or upon its interest under this Mortgage, or upon its income from the interest received upon the indebtedness secured hereby and Mortgagor shall be responsible for paying or reimbursing Mortgagee for any tax liability of Mortgagee~ its successors or_assigns, now or hereafter imposed by the State of Florida upon the Mortgagee, its successors or assigns for interest income generated from the loan secured hereby, provided however~ that in the event any such payment to Mortgagor for any suc2z taxes and assessments pursuant to this paragraph would be deemed a payment in the _ : ~ nature 'of interest, no such payment shall be due or payable by Mortgagor.- ; . _ t 5. To provide at its e}:pense . fire insurance, ~vith ~x- ~ tended cove~~age, no-reuorting form, an~i co~~ering such other risks ~ ana perils as i-Sortc;agee in its discrc:tion r^a~~ rea_uire, including at least all haz~rds covered by an "all risk of physical loss" ~ policy and including ~ollapse and floo3 darnaRe. .`I'he policy or , ~ policies of such insur~nce shall be in the form in general use ; fro:n time to tir~e in the locali~:y in ~•.*'nich tlie premises are situated; L-or tlie risk covered thereby, shall be in an ar.iount . • equal to 100 0 of the full insurable valuc of the improvements _ shall be issued :~y a ce:~pany or compani~s av~roved by P~!ortgac~ee, . ~ and shall contain the Standard :!ortgagee Clause with loss payal~le to riortgagee. I•lortgagor shall r*~aintain ~•rorl:r::an's cempensai:ion ; •-insurance for all its emplo~?ees in ar.lounts required by law a^d i ; emplo~~er's liability insurance. The first P-iortgagee and address ~ r_ is to be designated as ~ollo~•~s : Bankers Trust Co:r.pany, 16 Wall i Street, Ne~a Yor;:, Neca York 10015, Att~ntion : Tnsurance l~~vision, ~ Mor tga ge 521-16393 as first }-'_ortgagee. ~ i~enever rec7uircd by ` r for i:gagee, ~ u c: ~ n o l i c i e s _ and abstracts and other title eviacnce, , shall be delivere~ imrnediately to and held by J•iortgagec. Any ~ and all ar~ounts received by :iortgagee under an~ of sucll poli- ~ cies may be applied by t;ortgagce on the indebteuness secured ~ hereby in such r.?anner as i-iort9arce may, in its sole discretion ~ ~ elect or, at the option of t-lortgagee, the entire a*~ount re- ~ • ceived or any part thereof may be released. t~:either the appli- } eation nor thc relc~se of c'lIly such amounts shall cure or ~•~aive . . any default. Such insurance shall at all time~ ;~e subject to , lendcr's a~proval as to amount, company, form and cr,piration date. ~f Upon excrcise of ~n,? po~•rer of salc given in L-his mortgage or ~ other acgui~itior. of the prcrnises or any part thereof l~y T~lort- ~ i gagee, such policies, abstracts ~nd title evic~ence shall becorae ' the absolutc propcrty of 1lortgagee. - 6. To first obtain the written consent of Dtortgagee, ; such consent to be granted or withheld at t}ie sole discretion of ~ such t•lortgagee, before (a) removing or der.lolishing any building ' now or hereafter erected on the premises, (b) altering the ar- ~ r~~ngement, design or structural character thereof ,(c) making any repairs cahich involve the removal of structural parts or the significan~ exposure of the enterior of such buildings to the . elements, or (d) cutting or removing or permitting tl~e cutting and removal of any trees or tir.~ber on the premises. URs~ ~ - 3 - $QOIf GL~ ~f MCRSHON, sAWYlR. JOHN6TON, OUNWOOV a COLE. 1000 FIRST NATIONAL OANK BUILOING. MIAM1, rLOR10A »191 _ i~.G . ' : ~ ~~ishr~"~ , ~ ~x ~t.+l~' ~ ~ " ? _ . s..r3._.. . . . . r 1 _ .?ac~ar