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HomeMy WebLinkAbout0525 T . • ~ ` ~ ~ 1 . ~ ~ ~ t«Y~ount to {x~y such clu~rges when due sht~l) I~c {~xid by Morlgugor to Morlgagee on drtnnnd. If, by reuauo ot uny defnull by Mortgagor unde~ any provision ot this Morigage, MOH~AQE'e ~fCI9fC~ RII sums ~ecured hereby to be due and ~xiyable, Mortgagee mny then apply a~y funds in aaid nccount agxinst the entioe indebtedr~en ~erured hereby. The entorceai?ility of i tt~e cove~anta relati~ to taxes, au~menta and inaurance promiums hercin otherwiae provided ahall not be attected except F ~ iwotar as thoee oblisatiot~s have bean r.~et by rnmpliance with this peresrep6. Mortaagee may from time to time at ita option waivs. And atter eny such walver t~einstpte, any or all pmvisions hereo[ requirinR wch depoaita~ by notice to : Mortg+~or in writina. While any such waiver is in eftect, Mortgagor ahall pay ta:ea, esseasmenla and insurance premiums ~ u8 herein eliewhere provided. ; 4. To pmmptly pay all tanee and aer~amenia aeeeased or levied under and by virtue o( any state, (eden~l, or municipal F law or regulation hernsfter pas~ed. e8~nst Murtgagee upon thia Mortaage or the debt hereby secured, or upon ib inlerest i under this Mort~age. provided however. that t6e total amount so paid tor any wch ta:es pursuant to thia paragraph togeth• ; t er with lbe interesf payable on said indebtedn~sa ehall not e:ceed the highe~ lawful rate of intereat in Flo~da and provided ~ (urther tl~at in lhe event ot the pasea8e ot any soch I~w or reguletion imposing a ta: or awessment against Mortgugee up- s on this Mortgage or the debt aecured hemt~y, that the entire indebtedness secured by this 111ortgage ahall thereupon be• ~ come immediately due and payable at the option ot Mortgagee_ ~ 5. To keep the Mortgaged Property insured againal loes or damage by tice, and all perib inwred ugainst by an e:- ~ tencied covert~ge endoraement, and such other riake nnd perils aa Mortgagee in its diacretion may require. The poli~y or ~ policiea o[ such inauranee shall be in tt~e [orun in genernl uae from time to time in the locality in which the MorigaKed ~ Property is situated, ahall be.in auch amounl as Mortgagee may reaaonably require, sl~all be iasued by a rnm~wny or ~ cowpanies approved by Mortgagee. and ahall contain a standard mortgagee clauee with loae payable to Mortgagee. When- ' ever required by Mortgagee. such policies, ahall be delivered immediately to and held by Mortgagee. Any and all amounts ~ received by Mortgagee under any ot suc6 policies may be applied by Mortgagee on the indeblednees secured hereby in such ~ manner aa Mortgagee may, in its aole diacretion, elect or, at the option ot Mortgagee, the entire amount ao received or any part thereof may be released. Neither t6e application nor the rele:ise ot any auch amoun4 shall cure or waive any default. Upon exerciae ot the power ot sale given in thia Mortgage or other acquiaition of the Mortgaged Property or any part there- of by Mortgagee. such policies shall becvme the abeolute properly ot Mortgs~gee. 6. To tirst obtain the written consent of Mortgngee, such consent to he B~nted or with6eld at the sole discretion of - Mortga1Cee, before (a) removing or demolishing any twilding now or hernafter erected on the premiaes. (b) .altering the 1 arranRement, deaign or etruMural chatacter thereof, (c) making any repairs which im~olve tl~e removaf ot atructura! parts 1 or the ezpoaure of the interior oi such building to the elements, (d) cutting or removing or permittins the rutting and re- movnl of any trees or timber on the Mortgaged Property, (el removing or e:changing any tangible pereonai propertY which is part o[ the Mortgaged Property. or (t) entering into or modifying any leases of the Mortgaged Property. 7. To maintain the Mortgaged Properiy in good condition and repair, including but not limited to the making of such repairs us Mortgagee may from lime to time determine to be necessary for the preservation of the Mortgaged Property and to not commit or permit any waste thereof_ S. To comply with all laws, ordinances, mgulationa; coven:ints, conditions and restrictions a(tecting the Alortgaged Property, and not to suifer or petmit any violation theteof_ , , 9. I[ Mortgagor tails to p:iy anv claim, lien or encumbrance which is su~~erior to this Mortgage, or when due, any ta: i or aseeasment or insurance premium, or to keep the Mortgaged Property in" repair, or shall rnmmit or permit waste, or if ~ there be rnmmenced any action or proceeding atfecting the Mortgaged Property or the title thereto. or the interest of : Mortgagee therein, including, but not~ limited to, eminent domain and bankruptcy or reorganiration proceedinga, then ~ Mortgagee, at ite option~ may pay said claim, lien, encumbrance, ta:, assessment or premium, with right ot subrogation ~ thereunder, may make such repairs and take such ateps as it deems advisaWe to prevent or cure such waste, and may i appear in any such 8ction or ptoceedinK and retein counael Werein, and take s~ch action therein aa Mortgagee deems ad- ~ visable, and for any o( auc6 purposee Mortqagee may advance such aums of tnoney, induding a11 costs, reasonable attorney's ~ fees and oiher itema of ezpenee as it deems nec~ssary. Mortgagee shali be the sole judge ot the legality, validity and priority ~ oE any such cla~m, lien, encumbrance, ta:, as~essment and premium and of the amount nec~essary to be paid in satisfaction ~ thereoi. Mortgagee ahall not be held accountable for any delay in making any such payment, which delay may result in S any additional interest, costs, chargea, e:penses or otherwise. 10. Mortgagor will pay to Mortgagee, immediately and without demand, all suma o( money advanced by Mortgagee to protect the security hereoi puisuant to this Mortgage, including all costs, reasonable attorney's tees and other items of expense, together with interest on each such advancement at the 6ighest lawtul rate of interest per annum in the State of Florida. And all such sums and interest thereon shall he secured hemby. 11. All sums o[ money secured herei~y shall be payable without any relie[ whatever trom any ~•aluation or a~~pnise- ment laws. ~ 12. If detault be made in payment of any inetalroent of principal or interest of the Note or any part thereo( when ~ due, or in payment, when due, or any other sum secvred hereby, or in performance of any of Mortgagor'a obligationa, coven- ants or agreements hereunder, aU ot the indebtednesa secured hereby shall become and be immediately due and payable at the : option ot Mortgagee, without notice or demand which are hereby e:pressly waived, in which event Mortgagee may a~~ai! itselt ~ ot all righta and remedies, at law or in equity, and this Mortgage may be forecloeed with all righta and remediea a(torded by the lawa ot Florida and Mortgagor shall pay all costs, charges and e:pensea thereof, including a reasonable attorney's fee. including all such costa, e:penses and attorney a fees tor any retrial, rehearing or appeab. The indebtedneas aecured herebY shall bear interest at the highest lawful rate of interest per annum in the State of Florida from and after the date of any such de(ault of Mortgagor. If the Note provides for instalment payments, the Mortgagee may, at its option, collect a late eharge-not to excei.d two centa tor each one dollar not paid to the Mortgagee when due, to rnimburse the Mortgagee for . expenses in collecting and aervicing such instalment paymenta. 13_ It de(sult be made in payment, when due, of any indebtedness eecvred hemby, or in per(ormance of any ot 1~lortqagor's obligations, covenanta or agreement hereunder: . (a) Mortgagee ia authorized at any time, without notice, in its sole dixretion to enter upon and l:ike ~~oasession o( the Mortgaged Property or ~ny part thereof, to pertorm any acts Mortgagee deems necesaary or proper to conaerve the ~ eecurity and to collect and receive all renta, issues and pro(its thereot, inctuding thoee paat due as well as those acrruing o~ ~ thereatter: and ~ (b) Mortgagee shall he entitled, as a matter ot atrict rig6t, without notice and e:parte, and without reBard to the ~ ~ ~ value or occupancy ot the eecurity, or the xolvency ot Morlgagor, or the adequacy ot the Mortgaged Property aa security for ~ !hc Note, to have a receiver appoinfed to enter opon and take possession of the Motlqaged Property, collect the rents and pro(ita there(rom and apply the same as tfie court may direct, auch receiver to hare all the riBhta and powera permitted ~ under the laws of Florida. ~ In either auch case, Mortgagee or the receiver may ulso take possesaion o(, and for these purposea use, any and all personal property which ia a part of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or ~ any pert thereof. The ezpenee (induding receivers feee, counsel fcee, costa and agent's compensation) incvrred purauant ~ to the powers herein contained ahall be ~ecured hereby. Mottgagee sball (atter payment of all casta and e:pemes incurred) l _2' , . ' y : , ' o .