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Home My WebLink About0274 . ~ ~ airount to puy such charges when due aball t~e paid by Morlgugor to Mortgagec on demund. 1t, by r~eon of any de(nult by Moriga1Cor under uny pm~~ision of tAis Mortgage. Mortgugee declates all sums secured hereby to be due and payable, Mortga~tee may then apply any fu~ds in suid account egainst the entire indebtednees secured hereby. Tt~e entorceability ot the covsnants relatins to ta:es. anessments and insurance premium~ herein Mherwise provided shall not ba at(ected e:cept insofar as thoee obli6ations have been met by complianrs with lhis paraaraph. MottBaBee may fro~a time to time at ib option wsive, and etter any such waiver reiiutale. an~y or all provisions hereot requiring wch depoaita. by notioe to Mortgasor ia writiag. While any sucb wniver is in effect. blorlaagor ahall pey taYes. sa~erme~ta and ~t~surence Prem~ums us herein elsawhere provided. To promptly pay all ta:es aad a~ssmenta ae~esaed or levied under and by virtue of aqy stute, tederal, or municipal iaw or reaulation hereatter pe~aed. aBainEt Mortgageo upon this Moriaaae or the debt hereby aecured. or upon ib interest under this Mort~e, provided twwever. ttiat the tolal amount so paid tor any sur6 taxes pursuant to ttw parugraph toBeth•_ er with tDe interest payable on ~sid indebtedneas sball not e:ceed the biahest lawful rate ot interest in Fbrida and pmvided further that in tbe event o[ We pae~age ot aay wch law or resulation imposina a tax or as~eaaazent a~ainst Mortgagee up- on thia Mortgage or the debt secured hereby, that ihe entire indebtedneas aecured by this Mortguge ahall thereupon t~e- come immediately due and payable at the option of Mortgagee. b. To keep the Mortsased Properly insured aBainst loss or damage by ti~e. and all perib insured against by an e:- tended rnveraBe endorsemeat, and such other risks and perila aa Mortgagee in ita discretion may require. The policy or policies ot avch insurance shaU be in the form in genetal uee irom time to time in the locality in which the Mortgaged Property ia situated, ahall be in auch amount as Martgagee may reaeonably require, shall be iasued by a company or companies approved by Morigegee. and sbaA rnntain a standard mortgagee clause with loes payable to Mortgagee. When- ever required by Mortgagee. sucb policies~ s6a11 be delivered immediately to a~d held by Mortgagee. Any and all amounte received by Mortgagee unde~ any o[ such policies may be applied by Mortgagee on the indebtedneea secured hereby ia such manner as Mortgagee may~ in ita sole discretion~ elect or, at the option ot Mortgagee, the entire amount ao received or any part thereof may be releascd. Neither the application nor the release ot any such amounta shall cure or waive any detault. Upon e:ercise oi the power ot sale aiven in this I?iortgage or other acquisition-ot the Mortgaged Property or any part there- of by Mortgaaee. auch policiee ahall become the abeolute property ot Mortgagee. ' 6. To [irat obtain the written rnnsent ot Mortgagee, such conaent to be granted or withheld at the sole diacretion ot Mortaa6ee, betore (a) removina or demoliahing any building now or hereatter erecled on the premises, (b) altering the , arranaetnent, deaian or struct~ral cl~araMer thereof. (c) makina-an'y repairs which.involve the removal ot etructural parta or the e:posute oi the interior of such bailding to the elements. (d) cutting or removiag or permitting the cutting and re- moval of any trees or timber on tbe Mortgaged Property. (e) removing or ezchaaging any tangible personal property w6ich is patt of the Mortgaged Property. or (t) entering into or moditying any leaaea ot the Mortgaged P[operty. 7. To maintain the Mortgaged Property in good rnndition and repair, including but not limited to the makins of sucb repairs se Mortgaaee may from time to time determine to be neceesary tor the preservation of the Mortgased Property and to not commit or permit any waste thereot. . 8. ~ To comply with all lawa. ordinances. regulations. covenants, conditions and reatrictions at[ecting the Mortgaged Property, and not to su(ter or perrnit any violation thereof. . 9. It Mortgagor faila to pay any daim, lien or encumbrance which ia superior to this Mortgage, or when due, any tax or a~eesment or insurance premium, or to keep the Mortgaged Property in repair. or shall commit or permit waste. or it there be commenced any action or proceeding atfecting the Mortgaged Pmperty or the tiUe thereto. or the interest ot Mortgagee therein, induding, but not limited to, eminent domain aad bankruptcy or reorganization proceedicgs, tben Mortgagee, at ib option, may pay said claim, lien, encumbrance. ta:. aeeeasment or premium, with right of aubrogation thereunder, may make such repairs and take such ateps as it deems advisable to p~vent or cvre such waste, and may appear in aay such action or procceding and tetain counsel t~erein, aad take such action therein es Mortgagee deems ad- visabie. and tor any o[ such purpo~s Mortgagee may advance such aums of money, includina all costar reasonable attoraey a teea and other items of e:pense as it deema neceesary. Mortgagee ahall be the sole judae ot t6e legality. validiEy and priority o( any suclt'claim. lien, encumbranoe, ta:, a~neal and premium an~ o( the amount nec~eesary to be paid in satii(action thereo(. Mortgagee shaA not be held accountaMe for aay delay in making any suc6 payment. which delay may resutt in aay additional intee+est, coeis, charges, e:pensea or otherwise. i r 10. Mortgagor will pay to Mortgagee, immediately and without demand, all auma of money advanced by Modgagee ~ to protect the security hereo! puisuant to this Mortgage, including all coets, reasonable attorney's fees and other items of ; t e:penee, together with intereat on each auch advancement at the higheat lawful rate ot intereat per annum in !he State ot ! Florida, and all such suma and interest thereon shal! be secured hereby. ~ 11. All suma of money aecured 6ereby shall F~e payable without any reliet whatever from any valus~tion or appraise- ~ ment lawa. F 12. U detault be made in payment o[ any instalment of principal or interest ot the Note or any part ~ thereof when due, or in payment, when due, or any other sum eecured hereby, or in pedormance ot any ot Mortgagor e obligations, rnven- anta or agreements hemunder, all ot the indebtedneas eecuced hereby shall become and be immediatelY due and payable at the option of Mortgegee, without notice or demend which are bereby expreasly waived, in which event Mortgagee may avail itaelf ot all rights and remedies. at law or in equity, and this Mortgage may be toreclosed with all rights and remediea atforded by the lawe of Florida and Mortgagor shall pay atl costs, charges and e:penses tbereof~ including a reaeonabie ettorney'e fee. including all such costa, e:penees and attorney's feea (or any retrial, rehearing or appeals. The indebtedneas eecured hereby ahap bear interest at the highest_lawtul rate ot intere~t per annum in the State o[ Florida from and after the date o[ any such de(sult ot Mortgagor. If the Note pm~~dea tor inatalment payments, the Mortgagee may, at ita option, collect a late - c6arge not to e:ceed two centa for each one dollar not paid to the Mortgagee when due, to reimburae the Mortgagee [or e:penaes in collecting and eervicing such instalment payments. 13. If detault be made in payment, when due. of any indebtednesa secured hereby, or in pertormance of any of Mortgagor a obiigationa, covenanG or agreement 6ereunder: ~ ~ (a) Mortgagee ia authorized at any time, without notice, in its eole diacretion to enter upon and tuke posseasion of the rlortgaged Property or any part thereof, to pertorm any acta Mortgagee deema neceasary or proper to conserve the ~ recvrity and to collect and receive a11 rents, issues and protita thereof, including thoee past due as well as thoee acrtuing ~ thereatter; and ~ (b) Mortgagee ahall be entitled, es a matter of atrict right, without notice and e~arte, and wit6out regard to the ~ value or occupancy of the security, or the aolvency ot Mortgagor, or the adequacy ot the Mortgaged Property as eecut~ty tor ~ the Note, to hsve a receiver appointed to e~ter upon and take poesession ot tt~e Mortgaged Property, collect the rents and ~ profits theretrom and aPp1Y the seme as the court may direct, suc6 receiver to have all the ri66ts and powere permitted under the Iaws of Florida. In either wc6 case, Mortgagee or the receiver may also teke poes~sion ot. and for t6eee purposea use. any and aU peraonal property which ie a pad ot tbe Mortgaged Property end used by Mortgagor in tbg rental or leasing thereof or any part thereof. T6e ezpense (incindins receiver's feea, cauneel teea, costs and agent's compensation) incurred pursuant to the powers berein contained ~hall be ~eetired hereby. Mortga6ee sball (after paYment of all cwts end e:pen~ea incurred) -2- • . S: ~t ~~`s~ ~"1~6 P~c~ 273 - - -.~A