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HomeMy WebLinkAbout0560 ~ ~ _ . . . • . , ~ ( • 1 . account to pay wch charge~ whe~ due aball be paid by Mortaa~co~ to Mortga~ee on demand. It, by reason of any de(ault by MoK~or ur~der a~y pwvision ot this MoctgaRe, Mortsaaee declarea all sunu secured hereby to be due and payaMe, Mortgasee may then app~y any tunds ie ~aid account ••~ain~t the e~tire i~ebtedness secured h~reby. The en(orceability ot tbe cov~enanb eelatir~ to ta:ar aMeesmeab and iasurance prsmiums hsreln otberwise pwvided atull not bs aftected ~cept inwtas as thwe oblisatioas Mve beea mst by complianes with this psregreph. Moct~agee may trom time to time at ita c~ption waivs~ snd a[ter any such waivee rei~state. any or all pwvisioru hereot requirir?a such deposits~ by notice to Morts~aaor ia wiiHas. While any such weiv~er u ip et~ect. Mortae~or sbuU pay taaes. a~eats and insura~x~e ptemiums _ as hernin el~ewl~ere pmvided. 4. To promptly pay ap ta=es and aa~sments useessed or levied under and by.virtue ot any stnte. tederal. or inunicipal law or regulation herealter passed. aBainst Mortgageo upo~ ihis Mort~e or the debt hereby secured. or upon ita interest ~urder this Mor~aae. provided Iwv?ever. tbat t6a total amouat ao paid for aay such bues pureuant to this parnurapb to~eth- er wit6 the interest peyable on said indebtydneas ahall not r:ceed the highest law[ul rate ot interest in Florida and provided further that in the ev~ent ot tbe p~aesese ot aqy such law or regulation impo~ing a tas or assesament against ModauBee up- on tAis Mortgage or the debt secu~ed hereby, that the entire indebtedaeas aecured by this MortBa6e ahall thereupon be- come immediately due and p~yable at the option o[ k!ortgaaee: - 5. To keep the Mortgaged Property inwred against loas or damage by tire. and_ell perila insured a8ainst by an es- tended coverage endorsement. and such other risks and perils as Mortgagee in its di~cretion may require. Tt~e policy or policies ot such insarance shall be in the [orm in seneral use tran time to time in the locatity in whicl~ the MortRaaed Propetty is situated, a6a11 be in wch aawunt aa Mortaagee raay reaconably require. shall be isaued by a rnmpany or companies approved by Mortgagee. aad ahall contain a standard mortgagee clause with loss payable to Morigagee. K'h~n- ever required by Mortgagee. suc6 policies, sl~a11 be delivered immediately to aad held by Mortgagee. Any and ap amounta received by Mortgaaee under any ot such policies may be applied by Mortgagee on the indebtednees secured herebY in auch manner as Mortgaaee may~ in ita sole discretion, elect or, at tbe option of Mortgagee, the entire amoant so received or any part thereof may be releseed. Neither the application nor the releaae o[ any such atnounb s6all cure or waive any deJault. Upon e:ercise of the power of sale 6iven in thia Mortgage or other acquisition ot the Mod~aged Pmperty or any part there- of by Morlgagee. wch policiea shall become the absoluLe pmperty of Mortgagee. 6. To fizat obtain the written coneent of Modgagee, such consent to be granted ~or withheld at tbe sole diacretion ot Mortgagee. before (a) reanovieig or demolis6ing any building now or 6ereafter erected on We premises. (b) altering the atrangement, design or stnutural c6aracter thereof. (c) making any rep~aita which involve the removal ot atructural parts or the expoen~re of the interior ot auch building to the eleeaents, (d) cuttit~ or removins or permittina the cuttina and re- moval of any trees or timber on the Mottgaged Property. (e) removin6 or e:changins any tan~i~le personal property which is part of the Modgaged Property. or (f) entering into or modifying any leases of the Mortgaged Property. 7. To maintain the Mortgaged Pm~rty in good condition and repair, including but not limited to the makin6 ot auch repaire aa Mortgagee may trom time to time determine to be necessary for the preservation ot the Mortga6ed Property and to not rnmmit or permit any waste thereof. 8. To comply with all laws, ordinances, regulations, covenanta, conditions and re~trictiona a((ecting the Mortgaged Pmperty, and not lo aufter or permit any violation t6ereof. ~ 9. If Mortgagor fails to pay any ciaim, lien or ~ncumbrance which is superior to thia Mortg:~ge, or when due, any lax or aseessment or insurance premium~ or to keep tl~e Mortgaged Property in repair, or shaU commit or perauit waste. or if there be commenced any aMion or proceeding atfecting ihe Mortgaged Pmperty or the title t6ereto. or the interest of Mortgagee therein. including, but not limited ta. eminent domain and bankruptcy oi reorganization pra~eedinga, t6en Mortgagee, at ita option, may pay said claim, lien, eacumbrance,-ta:, ae~sment or premium, wiW ri8ht of subrogation thereunder, may make such repaira and take auch stepa~ as it deems advisable to prevEnt or cure such waate, and may appear in aay auch action or proceedinB and retain rnunsel tt~erein, and take such action therein se Mortgagee deems ad- visaWe, and [or anv of such purposes Mortgaaee may advance suc6 sums of money, including all costs, reasonable attoraey's i [ces and other items ot e:pense as it deems neceaeary. Morttagee shal~ be t6e aole judre of the legality, validity and priority , oi any such claim, lien, encambrance, taz, aae~sment and premium and o( t6e amounc neceeeary to be paid in satisiaction thereot. Mortgasee aball not be held accountable for any delay in making any auch payment, which delay tnay result in t~~y additional inte~st, costa, charges, expensea or otherwise. 10. Mortgagor will pay to Mortgagee, immediately and withoat demand, all sums o[ money advanced by Mortgagee to protect the eecvrity hereof pursuant to this Mortgage, including all costs, reasonable attorney a fees and oilier items of , e:penee, together with intereat on each such advancement at the highest lawlul rate o( interest per annum in the State ot Florida, and aU such sums and intereat thereon shall be secured hemby. 11_ All sums o( money ~ecnred heret?y ahali be payable without any relief whatever from any ~~aluation or appraise- ment laws_ _ 12. If detault be made in payment of any instalmertt of principal or interest of tbe Note or any part thereot when due, or in payment, when due, or any other sum secured hereby, or in performance ~f any of Mortgagor a obligations, rnven- ants or agreementa hereunder, ali of the indebtedness aerured berebyshall become and be immediately due and payable at t6e option of Mortgagee, without notice or demend which are hereby e:pressly waived, in which event Mortgagee may avail itselt of all rig6ts and remedies, at law or in equity, and this Mortgage may be foreclo~ed with all rights and remediea affor~edby the laws of Florida and Mortgagor shall pay all costa, charges and e:penaes thereot, induding a reasonable attorney's fee, including al! such costa, e:pengea and attorney e(ees for any retrial, rehearing or appeals. The indebtedness secured hereby shall bear interest at the higheat lawtul rate of interegt per annum in the State ot Florida Irom and after the date of any " auch detault of Mortgagos. If the Note providea tor instalment paymenta, the Mortgagee may, at ifs option, rnUect a late charge not to ezceed two centa for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee for e:pensea in collecting and rervicing auch inatalmenE paymenta. 13. If de(ault be made in payment, ~vhen due, of any indebtedness serured hereby, or in pertormance o( any of Mortgagor a obligati~ns, covenanta or agreement hereunder: (a) Mortgagee is authorized at any titne, without notice. in ita sole discretion to enter upon and take poseeasion ot t1~e Mortgaged Pmperty or any pa~: thereof, to pertorm any acts Mortgagee deems neoeasary. or proper to conserve the secarity and to eollect and receive all ren!s, isaues and profita t6ereot, including thoae past due as well as thoee acrruing thereatter: and . - (b) Mortgagee shap be entitled, as a matter ot strict right, wit6out notice and e~arte, and without regard to the value or occupancy of the s~~~ity. or the solvency of Mortgagor. ur the adequacy of the Mortgaged Property as security tor the Note, to have a rcceiver appointed to enter npon and take poese~ion ot the Mortgaged Property, collect the rents and proGta theretmm and apply the same ae the rnurt may direct, auc6 recei~~er ta l~ave all the rig6te and powera permitted - under the laws of Florida. In either suc6 caee. Mortgagee or the receiver may alao take posaesaion of, and tor Weee pur{waea use, any and a1~ _ p~rsonal property which ia a part of the Mortgaged Pmperty and wed by Mortga`,o: in t6e rental or leasing t6ereof or any pert tl~ere~il. Tfie e~pense (including receiver's fees, connsel tees, caete and agent'a compensation) incurred purauant to tha powezs 6erein contained e6all be secured hereby. Mottgagce shall (after payment of all costs and espenses incurred) -2- S~~K ~r f ~ PA~ ~ _ , + . + . ; .