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HomeMy WebLinkAbout0731 . , ~ •1 1 , ' ~ ! account to pay such chargea when due shali be paid by Mortgago~ to Mortgagee on demand. I(, by reuso~ of any de(ault by Mortsa`or under any pmviaioe ot this Mort6aae, Mortgaaee declare~ all sums secured 6ereby to be dua and pnyable, Mortsagee may the~ apply any fund~ in aaid account again~t t6e entire indebtedness secured 6ereby. The enforceability o( t6s eovenanb relatins to ta:e~, ss~e~sa~s~ta aod insurar~ce premiums Aerein othe~wiae provided shell not be aftected ezcept insofar as tl~we obligation~ bave been met by compliancs with this paragraph, Mort~agee anay trom time to time at ib option waive, and etter any tucb waiver reinstate. aqy or aU provi~ion~ bereot requirina wcb depo~its~ by ~ notice to Mortsa6or ia writins. Wtuls any aicb weiver ir in etfect, Mortgaaot ahalt pay taxes„ ~eresru~enb and insureACS premiuau ue hesein ebswhers provided. 4. To promptly pay at1 tei~ and aea~smeAts asaessed or levied under and by virtue ot any stete, tederal, or municipal law or regulation hereafter pse~ed~ agaiast Morfgeges upon this Mort~o or the debt hereby secured, or upon ib interast under this Mortgage. provided however. that tbe totel amount so paid for aqy such tazes puiauant to this parngraph togeth- er wiW the iaterest payaWe on ~aid indebtedness aball aot exoeed the hiaheat lawful rate ot interest in Flo~da and provided ~ turther tbat in t6e evept of tbo ~e o[ aqy suc6 law or re6ttlation imposing a tiaz or a~smeat aaainst Mortgagee up- on this Mortgage or the debt secured hereby, that the entire indebtedneas eecuced by this Mortgage ahall thereupon be- come immediately due and payaWe at the option ~ot Mortgagee. 5. To keep the Mortaeged Property inwred agaiast lws or damage by fire. and all perib insured against by an e:- tendcd rnverage endoraement, and auch other risks and perils as Mortgagee in its diacretion may require. The policy or Policies oi euch insurance shall be in the torn~ in general uae fmm time to time in the locality in which t6e Mortgaged Pmperty is aituated, shall'be ia such amount as Mortgagee may reaeonably require, ahall be iasued by a rnmpany or companies bpproved by Mor~agee, and ahall contain a standard mortgagee ciause with loss payable to Mortgagee. Whea- ever raquired by Mortgagce. sucb policiea. shall be delivered immediately to aad held by Mortgagee. Any and all amounta received by Mortgagee under any ot suc6 policiea may be applied by Mortgagee on the indebtedneas eecuced hcreby in auch manaer as Mortgagee may, in its aole diecretion, elect or, at the option of Mortgagee~ the entire amount so received or any part thereof may be released. Neither the application nor the release of any snch amounta ahall cvre or waive any default. Upon e:ercise of tLe power of sale given in this Mortgage or other acquiaition of the Mortaaged Property or any part there- ot by Morigagee~ such poUciea shall become the a6sulute propedy oi Mortgagee. 6. To fitst obtain the written rnnsent of Mortgagee, auch conaent to be granted or withheld at the aole discretion of Mottaagee. betore (a) removins or demoliahing any buildina now or hereatter erected on the premiaea, (b) altering the . arrangetnent, deai~n or atrurturel character theieof, (c) making any repairs which involve We removal of riructural parta or the e:posare of the interios ot such building to the elements, (d) cutting or removing or permitting the cutting and re- moval of any trees or timber on the Mortgaaed Property~ (e) removing or eschanging any tangiMe pereonal property which is part of the Mortgeged Property, or (f) entering into or moditying any leasea of the Mortgaged Property. 7. To maintain the Mortgaged Property in good condition and repair. including but not timited to the makinR of auch tepaira as Mortgagee may fmm time to time determine to be neceasary tor the preservation ot t6e Mortgaged Property and to not cotnmit or permit any waste t6ereof. 8. To rnmply wiW alt lawe. ordinances~ regulations. covenants, rnndiliona and restrictions atfecting the Mortgaged Property, and not to auffer or pemut a~yr violation tbereof. ~ 9. If Mortgagor faila to pay any claim. lien or encumbrance which is superior to this Mortgage, or when due, any ta: or aaee~ment or insurance premium, or to keep We Mortgaged Property in repair. or ahaU commit or permit waste~ or if there be commeneed any action or procecding atfecting the Mortgaged Property or the title thereto. ot the intereat ot Mortgagee therein~ including, bat not 1'united to, eminent domain and benkruptcy or reorganization proceedinga, then - Mortgagee~ at ita option, may pay said daim, lien, encumbrance. taz~ aseessment or premium, ~wiW right of aubrogation thee~evnder, may make auch repairs and take such stepa as it deema advisable to prevent or cure such waste, and may app~r in any suc6 actioa or prooeeding and retain counsel t6ereia, and take wch action therein as Mortgagee deema ad- vioable. and tor_ eny of such purpo~ea Mortgagee may advance such sums of money~ iacluding all costs, reasonabte attorney's [eea and ot6er iteme ot ezpense as it deema necessary. Mortgagee ahall be t6e aole judge of the leaality. validity end priority of any euch claim, lien, encvmbrance, taz, asseesment and premium and oi the amount neceaeary to be paid in aatiafaction . thereot. Mortgagee shall not be held accountaWe tor any delay in making any such payment, whic}i delay may result in any additional intereat, casta, cbargee, e:penses or otherwise. 10. Mortgagor will pay to Mortgagee, immediateiy and without demand, all suma of money advanced by Mortgagee to protect t6e security bereof puisuant to thia Mortgage. including all costs, reasonable attorney's tees and other items ot ''i e:penae~ together with interest on each such advancement at the higbest lawtul rate of interest per annum in the 3tate ot j Florida, and all such sums and intereat thereon shaU . be securrd hereby. ~ 11. AU au~na of money secured hereby ahall be payable without ~ny mlief whatever from any valuation or appraise- ~ ment 1awe. ~ • ~ 12. If default be made in payment of any inatalment ot principal or intereat ot tbe Note or any part thereof when due, or in payment. when dne, or any other sum eecured hereby~ or in performance of any of Mortgagor s obligations, coven- ~ anta or agreementa hereunder, aU of the indebtednese eecnred hereby shalt become and be immediately due and peyable at the ' option ot Mortgagee, without notice or demaad which are 6ereby e:preesly waived, in w6ich ewent Mortgagee may avail iteelf f e of aU rights and remedies, at ]aw or in equity, and thia Mortgage mey be toreclosed wit6 all rights and remediea attorded by tbe laws of Florida and Mortgagor sl~all pay all costs, charges and e~e~ee thereof, includinq a reasonable attorney's fee, includioa all such cas$ espemes and attorney's fees for any retrial, rehearing or appeala. The indebtedneae secured hereby d~all bear interest at t6e highest lawfu! rete of intet+eat per annum in t6e State of Florida [rom and a[ter t6e date of any s~ch detault oE Mortgagor. If tbe Note pmvides for instalment payments, the Mor~agee may, at its option, rnllect a late ~ charge not to e:ceed two centa tor eac6 one dollar not paid to tLe Mortgagee w6en due, to reimburee the Mortgagee for ~ e:per~sea in collecting and servicing auch irutalment peyments. 18. If detault be made in p~yment, when due. of any indebtedneas aecured bereby, or in pedormance of any of ~ Mortaaaoi s obligations, covenanta or a~reement heeeunder. ~ a ` (a) Mortgagee ia aut6orized at any time~ without notice, in its sole diecretion to enter upon and tsike poseesaion of tl~e Mortgaged Property or any part thereof, to pedorm any acta Mortgagee deeme necessary or proper to conserve the secu=itY and to coqect and receive all renta, ieeuea and profits thereof, including thaee past due as well aa thoae acrnung ~ therea(ter; and ~ (b) Mortaagee ahall be entitled, ns a matter of strict right, without notice and e~erte, and wit6out regard to the ~ value or occnpancy of the eecnrity, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property as security for the Note, to 6ave a receiver appointed to enter upon and take poeeeseion ot tbe Mortgaged Property, collect the r~nta and ~ ~ proGta therefrom end aPp1Y the satne as the eonrt may direct, aach receiver to 6ace ap the rights a~ powers permitted ~ under the laws of Florida. , In either auch case. Mortgegee or the reoeiver may aleo fake poeeeaeion ot. and tor the~e pamosea use, any and aU peraonal pe+operty which is a part ot tbe Mortgaged Property and used by Mortgegor in tl~e rentel or leasing thereo[ or ~ any part t6ereof. The e:pense (inclndins receive~s fees. ca~nsel fees, casts and agenYs rnmpensation) incurred pnrsuant ~ to t6e paweis herein contained ahell be ~ecured bereby. Mortgagee s6s11 (after payment of all costs and e:penees incutred) -2- - ' ? . - 600K ~ACE 7c)t) _ : ~.t;: _ - - - _ ~ .