HomeMy WebLinkAbout0574 7. To Tnaintain premises in good condition and repair,
including, but ~tot limited to the making of such repairs as tlort- ~
gagce may from time to time detcrmine to be necessary for the
preservation of the premises and to ~ot commit nor permit any
waste thereof. •
8. To comply with all laws, ordinances, regulations, .
covenants, conditions and restrictions affecting the,premises
and not to suffer or permit any violation thereof.
g. If Mortgagor fails to pay any claim, lien or encumb-
rance which is superior to this mortgage, or, ~~hen due, any tax
or assessment of insurance premium, or to keep the premises in
repair, or shall cor.?mit or permit ~~aste, ~or if there he commenced
any action or proceeding affecting the prer?ises or the title
thereto, or the interest of riortgagee therein, includii~g, but .
not limited to, eminent domain and bankruptcy or reorganization
proceedings, then t•iortgagee, at its option, may pay said claim,
lien, encumbrance, tax, assessment, or premium ~~ith right of
subrogation thereunder, may make such repairs and take such steps
~ as it deems advisable to prevent or cure such waste, and may
appear in any such action or proceeding and retain counsel
therein, and take such action therein as Mortgagee deer:~s advis-
able, and for any of said purposes 2~iortgagee may advance such
~ sums of money, including all costs, reasonable attorneys' fees
and other items of expense as it deems necessary. Mortgagee shall
be the sole judge of the legality, validity and priori ty of any
such claim, lien, encumbrance, tax, assessment and premium, and
~ of the amount necessary to be paid in satisfaction thereof. Mort-
gagee shall not be he ld accountable for any delay in r.iaking any
such payment, which delay may result in any additional interest,
. costs, charges or expenses otherwise.
10. 2lortgagor ~aill pay to Mortgagee, immediately and ~
without c~emand all sums of money advanced by t4ortgagee pursuant
to this mortgage, including all costs, reasonable attorneys' fees
and other items of expense, together with interest on each such
' advancement at the rate of fifteen percent (15w) per annum, and
all such sums and interest thereon shall be secured hereby. Mort-
~ gagee is hereby subrogated for further security to anv lien, such
as a mechanic's lien, or any and all other encumbrances paid to
preserve its intended lien hereunder or otherwise paid on beha~f
of Mortgagor. ~
11. All sums of money secured hereby shall be payab le
without any relief whatever from any valuation or appraisement
laws.
~ 12. If default should he made for a period of fifteen (15)
days in payment of any installment of princinal or interest of
said note or any part thereof ~~hen due, or in payment when due,
of any other sum secured herel~y' without notice or demand which
are hcreby expressly waived; or in the performance of any of
t•tortgagor's ob ligations, covenants or agreements hereunder, after .
; cicli~~cry of fifteen (15) d~ys notice of default thereof; then,
~ all oL the indebtedness secured hereby shall become and be im-
t mediatcly due and payablc at the option of riortgagee, in cahich
~ event t•lortgagee may avail itself of all rights and remedies, at
~ l.~r~ or in equity, and this r.~ortgage r.iay be foreclosed ~~ith all
i ri~thts and remedies affor~ed by the laws of Florida and rlortgagor
{ sha21 pay all costs, charges and expenses thereof, including
~ a re1sonable attori:ey's fee.
' 13. If dcfault be made in payr.ient, when due, of any in-
~ debtedness secureci hereby, or in performance of any of t~ortgagor•s ~
R obligations, covenants or agreements hereunder: t
~ (a) Mortgagee is authorized at any time, without no-
t
~ tice, in its sole discretion to enter upon and take possession ;
of th~~ premises or any part thereof , to perforr~ any acts 1?iort-
~ - 800R1( ~.L.t) PACE
-4- 573
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~ f MlRSMON. iAWY[11. JOHNSTON. OUHWODY ~ COLE. 1000 i1RST NATIONAL SANK SUILOING. MIAMI.'1OR10A ~!1!t
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