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Home My WebLink About1249 Z. To leave Hith the mortg~igee during the existence oE said note any abstract of title furnished to the mort- gagee. In the event of any foreclosure sale hereunder the mortgagee may deliver such abstract to the purchascr at such sale and it shall beoome the property of such purchaser. 3. To pay (a) before the same become delinquent~ all taxea~ assessments, water and other charges upon or against the premises or upon or against this mortgage or said note. levicd or assessed in Florida; and (b) a~y othcr charges, liens, or encumbrances which shall appear to be a leen prior to the lien of this mortgage upon the premises or the buitdings or other fixtures thcreon. In dcfault thercof, the mortgagee may, without demand or notice. either (a) pay and discharge the same. or (b) may appear in any actic~ tor'the enforcement thereof a~d defend or settle the s~1me~ and its determination as t6 the validity; priority'and amount thereof shall' be bind~ng upon the mortgagor. ' ' " 4. To keep such buildings and other fixtures upon the premises insured against such hazards and in such amounts as may be rc~uired by the mort~agee. All polic~es of insurance and the renewals ther~~of shall be written ~ upon forms and in companies s:itisfactory to the mortgagee, be made ~ayable, in case of loss, to the mortgagee, and shall, ~~•ith premiums (ully paid by the mortgagor, be delivcrrd at least fifteen (15) days before the expiration of any old policy, to the mortgagee and held by it. In default thereof. mortgagee may procure such insurance and pay the premiums thereon. In case of loss, mortgagee is authorized and empowered at its option to collect and receive the proceeds from ~ any such policy, and after deducting from such insurance proceeds any expt:nses incurred by it in the coliection or handling thereof, to apply the net proceeds, at its election, either to the restoration of the property damaRed or as a credit on any portion of the unpaid balance of said note whether then matured or to mature in the future. 5. To commit or permit no waste on the premises, to keep the buildings and other 6xtures thercon in ~ood rnndition and rep.lir, and to cultivate and fertitize any improved pasture on the premises in a good husbandiike manner. In default thercof. the mortgagee may at its option remedy any waste or make any repairs and its de- termination as to the advisability or necessity thcreof shall be binding on the mortgagor. The mortgagee is hcreb~ authorized to entcr upon and take possession of the premises for such purposes. 6. To pay the mortgagee~ immediately and without demand. all sums w~hich it shall pay or expend pursuant to the provisions of Paragraphs 3, 4 and S above. including cost of any title evidence and reasonable attorney's fees. together with interest thereon from date of expenditurc 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 proceeds of any judgment, award or settlement in any rnndemnation or other procerding for any damage to the premises, buildings or other fixtures thereon, s}:all bc paid to the mortgagce and shall, at its option. either be applied as a credit on any portion of the unpaid batance of said 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, notw•ithstanding its relcase of record, of anv prior vendor's lien, mort~age or other encumbrance on the premises paid or discharged irom the proceeds of said note. 10. The mortgagee. at the request of mortgagor, may from time to time and without notice, execute and : deliver partial releases of any part of the premises from the lien of this mortgage N~ithout afiecting either the ~ personal liability of any person I~able for the payment of said note, or the lien of this mortgage upon the remainder of the premises for the full amount of thc note then remaining unpaid. The rights of any subsequent purchaser, of any junior lienholder or of any other person or corporation in all or any part ot the premises shall be subject _ to such right of the mortgagee to execute and deliver such partial releases as afores~~id. 11. The entire debt secured hereby shall, at the election of the mortgagee and without notice or demand, I become immediately due and ~lyabie and this mortgage may be foreclosed in the event of (a) any default in the ' payment of any installment of principal or interest on said note or in the keeping and performance of any of the ! rnvenants or agreements hereunder~ or (b) if the mortgagor, without first obtain~ng wr~tten consent of the mort- t gagee thereto, shall assign the rents or any part thereof, from the premises, or shall consent to the cancellation or i surrender of an~• lease of the premises or any part thereof, now existing or hereafter to be made, and having an R unexpired tcrm of one ~~ear or more, or shall modify any such lease so as to shorten the unexpired term thereof, or P so as to decrease the lmount of rent payable thereunder. or shall in any other manner impair the value of the prem- ~ ises or the se:curity of the mortgagee for the payment of the debt hereby secured. ~ 12. In the event of any forcclosure hereof- ~ (a) The mortgagor shall pay afl costs and expenses thereof, including the cost of any title evidence and ~ reasonable attorney's fees, which sums, i( not paid before suit is commenced, shall be added to the ~ debt and secured hereby; ~ (b) The mort~agee shall ~~ithout notice be entitled to the appointment of a receiver to take charge of the mortgaged property, to collect the rents, issues and profits therefrom, and to care for same, without pro~•ing insolvency or any grounds for extraordinary relief, and the mortgagor hereby consents to such ap{~ointment, and such appointment shall be made by the court having jurisdiction thereof as a matter of ri~ht to the mort~afiee and ~-ithout reference to the adequacy or inadequacy of the securit~~ or to the solvency or insolvency of the mortgagor. ~ 13. The transfer of the rents, issiies and pro6ts trom the premisrs, hereinabove made, is specific in nature and ~ irrevocablr. So lon~ as no dcfault exists in thc pa~~ment of said note or in the kcepinQ and performance of mort- ~ gagor's covenants hereunder, the mort~agor map coliect and retain the curr~~ntly accruin~ rents, issues and pratits ' as the}• accrue, but in no event in advance of their normal accrual date. In the event, ho~vever, of any such de- z; fault, mortga~;or hereby expressl~• and irrevocably authorizes and empowers the mortgagce, its a~ents or attorncys, - at its election and without notice to ~nortga~or, and as the appointed a~~nt of mort~agor, to: ~ (a) Take immediate possession of and maintain full control and management over the premiscs; ~ (b) Oust tenants for nonpayment of rent; ~ (c) l.ease all or any part of the premises on such terms as mortgagee may deem advisable; ~ ~ (d) \Iake alterations or repairs Which mortgagee may deem advisable; ~ (e) Receive al! rents and other income from the premises and issue receipts therefor. Out of the amount or amounts so received, mortgagee shall pay the necessary operating expenses, including a reasonable ~ charge for managing the property, and shall then apply the net balance remaining in such manner as it ~ may in its sole discretion deem advisable upon any sums, advances or any other portion of the indebted- - ness secured hereby, and then render any overplus to mortga~or. 1liortgagee shall be accountable oniy to the extent that such rents and inrnme are actually collected. ~ k :c=.~.~. ~~c~~e ~oo~ , 488 ~~E1~,~ : ~ g~~~238 PACE1248 . . . . - n ~~--5~ ; _ - - - ~ ~ . ~ ~