HomeMy WebLinkAbout0221 :uruuM tu ~~:~y sui•h ch:u~;~~:t v~h~~n dur .hall IN~ p;ud h~• \lurt~;uKur tu lllurt~;aKaw un d~•m:~n~1. It, hy ri•awn ul any drL~ult
hy ~1orlK:~gor undrr uny pruv~xiun u( this \turtKi~~;~~, \1ort~;:~~~•e <I~•~•lunw a?11 ,uma ~~•umd hen•hY to i~• dut• .uxl {~:i>:il~li•.
Murig:~K.r nu~y then :ip~~ly a~ny lunds ~n s:ud ai•~•uunl u~;:~i~ist the rnlin• ~ndrbtrdn._~+ se~•un~! hereh~•. 7'h~• .•nlurc.:~bilit}• u(
the i~ve~~unts mluting to tuxes, us~e~cmenta and inaur.+nce prrmiums hereu~ othe~wise pm~ided Nh.dl not he uttcK•tttil ex~rpt
insofar .~.4 those ohliRations hnvc~ hern mot hy complianc-e with thix {x~r.iRra~ph. I11ortRaR~~e may from time to tirne .U its
o~?tion N'ill\'@, and u(ter uny Ruch waiver rninali~te, nny ur ull provisions hemo( reyuirinR such dN{x~sits, by noti~•e to
\1ortKaKor in writing. ~Vhile any xuch wuiver is i~ ~Ue~•t, ~lortR:~go~ xhaill ~u~y taize~, asu•s~nents :~nd inaur.ince premiums
:~s h~rnin ci~•whcre ~iro~•id~x1.
4. '1'o prompUy ~iy ull tuxe~ and ~?cw:~.m~~ri~s :135C54'(I ur levied under und by ~~irtu~~ ot uny atate, (rderul. or munu•~p:?1
law• er n~gulatiun here.~fter {w~rd, .~g:~insl 1~1u~IK.iK~ti u~wn thiw 11lortgage ur the drbt hereh~• scY•urcd, or u~xin its inirrext
under this rlurtgage, proridrd howrver, thal the tutul amuunt so {ktid lor uny such laxus punuant tu this {?:~r.iKr~ph togeth-
er K•ith thc• interrsl ~wyal~te on s:?id inde6trdne~s shall nut ~ac~~i the hiKh~t lawful r~te ut inten•st in Flundx .ind provided
further thut in the rvent of the ~uif:~:~ge of uny such luw or rrgulatiu~ im~?wing ~ tax or assesvment :~Kainst 11ortKager up-
un this !11ort~;aKe or the deht srx•urcd heml?y, that tht• rntim indel~tedni:ti~ s~vun~ci h~~ thiv hiurik:~~;r shall the•n•u~N~n i~r-
cume immc~i;~tely due :~nd ~k~yable at the option of Mort~;a~~~e.
s
5. To keep the 111ortgagc~cl Pro~xrty insured :~gainst luss or damuKe by fin•, anJ all ~xrils insured i~xuinsl 1?v :~n ex-
tend~~e! ~•o~~er.iKe endors~ment, und surh other risks .~nd ~x•rils .~s MortgaKee in its discmtion may mquire. 7'hc~ ~Kdicy or
~wli~•i~~ ot su~•h insur.~ni•e shal) t?e in lhe torm in Kenera) use fmm time to time in the locality in whi~•h the htortK:~KE~cI
1'n~{xriy is situatcvl, shaU I~e in surh .~mount :+a MortgaKi~ m:~y rn:~sonubly mquire, shall tx issued hy a~•om~~:~ny or
romEk?nic~ .~pproved by lNortgagee, and ~hall contuin :i stundard mort~:~gt~e clause with loss payable to A1ortK:~Rcr. \l'hrn-
ever ~c~c~uired by ;1lortgagee, such {wlicies, shaU lm deli~~rn~c1 immecii:ttely tu and held by 1~lortgaKE~e. Any and all :~mounts
re~rived by 111uHg~Rec~ under any o( ~uch poticie~ may I,e a~,~~lied by A1onR.iRc~ on the indebt~~cinesti sec•urcd hereby in such
m.inner .+s 11orlK:~Ree may, in its sole discmtion, eiect or, at the option of ~1lortgagee, Ihe entire :imount so receivc~ or any
~~:irt therenf may I~e mlrasecl. Neither the application nor the release of any such amounts shall ~•um or waive :~ny default.
U~wn erercise of the ~w~~er o( s;~le Ricen in this Alortgage or other :~~~quisition of thc DlortgaReci Pro~~erty or any part there-
o( by I~lortgugee, su~•h ~wli~•ics shall become thc al~solute pm~~rty af Tlortga~;cr.
6. To First oMain the written con~~nt o( :11ortRaKM~, such conu•nt to tM Kr.~nttYi ur withhrld :~t the wly discretion of
r1ortR.~Ree, he(orn 1:~1 remo~•ing or demolishinR .iny buildin~ now• or hem.~(ter erectc~ on the premi,c•s, (h) alterinK the
:irr:~nKement, design or structur~l charncter thernot, Ic) makinR any rep:~irs ~.•hich im•ol~~e the mmov.?1 of structur.~l p.irts
or the ex~sum of the interior ot such buildinR to the eleme~Lc, Id) cuttinR or nmovinR or E~ermittinR the ~•uttinR and re- •
mo~a) ot any trec~ or timt?er on fhe hlortR:~Red Pm~~rh•, (el removinR or ex~•h:~nKinQ an~• t.inRible ~~ersonnl pro~x•rty ~+~hivh
is ~~:irt of the A1ortRug~~c1 I'ro~x•rty, or (f) rnterinQ into or m«lifying :u~y Ic•:~ses of the A1ort{;:~K~~c1 YrujxNy.
7. To maint:~in the 111ortR:~Red Pm~~erty in Rncx1 rnndition :~nd m~kiir, ini•luding but not limited to the makinR ot su~•h
re{~:+irs .?s M~rtR:~Ree may trom time to time detrrniine tu t~ nc~c•c•ssnry tor the pmu~n:~tion of the :14ortR:~K~d PmFx~rt~• and
tn not commit or {?ermit am~ waste thereof.
8. To cumply with ~II laHS, ordinancc~, m~ulations, e~oce~untti, i•ondilions and restrictions .~Ite~•tin~ the 11ortK:~Rcvl
ProE~erty, und not to suifer or {~ermit anv ti•iulation therrof.
9. If t~1ortgagor L•iils to p:~~• am• claim, lit•n ur en~•umbrance whi~•h is su~xriur to this \1ort~;:i~e, or ~+hen due, any tax
ur as,cE~s.ment or insuran~•e premium, or to keep the \1urtKagt•d Yroperty ~n re~iuir, or shall cornmit or permit K:is[e, or if
there bc~ ~•ommen~-ed any a~tion or procec~ting a(fe~•ting the rlortg.iged Pro~?erty or the tiNe thereto, or the interest oi
~iortgagee therein, including, but not limiled to, eminent domain and ik~nkruptcy or rcKUg:~ni~.ition pr~x•eeclinRs, thrn
i ~'Iort~ager, at its. option, m:~y p:~y s~id c•laim, lien, encumbrance, lax, :issestiment or premium, w•ith right of suhmg.~tion
i thereunder, may m:~ke su~•h repairs and take su~•h ste~?s as it dc~ms .~dvis:~ble to preaent or rurr su~•h w:ist~, and may
I .ip~?ear in any such action or pr«•eedinR and retain cuunsel therein, and take such action iherein as ~tort~.~Ree de<~ms ad-
i ris;~ble, .~nd for uny of such purE~~es AfortRaRee m<iy :?d~:~nce such sums of mone>~, including all ~•osts, rease~n:ible attorney's
~ fees and other items o[ exE~ense as it deems necess:~n•_ A~ort~.~gee shall t~e the sole judqe of the IeKality, ~':ilidit~~ and ~~riority
f o( any sui•h claim, lien. encumhr<in~•e, t~x, :~ssessment and premium .~nd of the amount neces~:~ry ta t~e paid in satistaction
~ iherc~f. Niortg:igee shall not t?e held :~ccountable tor any delay in makin~ .~ny such ~kiyment, whi~h delay may r~ult in
~ :~np additional interest, .•usts, charRes, ex{~enses or utherK~ise_
~
10. ~1ortKa~or ~~~ill p:~y to :~tort~aR~~c~, immc~cliately and H•ithuut drm.ind, all swns of money advanced by 1lortgakee
~ to pmtect fhe securih• hFreof pursuant to this :11ort~age, includinK :~II cost~, reasonable attorney's fe~~s and other items of
€ ex{x•use, together W~ith interest on t~ai•h such :idv:~ncement at the hiRhe;t I.~wful rate of interest {x~r annum in the StatF• of
~ Florida. :~n~! all such swns and interest therc~n shall be se~•ured hereby.
-
~ 11_ All .um~ o( monet~ st~~•ured h~•rt~l~v sh:~ll Ix~ p:~y:~hle without any n•lii•f wh:~t~•~~•r irom :~m• ~~:~Iw~tiun or a~~pr:iise~
t mE•nt I:~~+s.
i
; 1'2. If default 1~e made in pa~•meret of anv instalm~•nt c,f pren~•ipal or interest of the ;Vote or any Nart thereo! when
~ ~iue, ur in payment, w~h~~n dur, or any other sum sei•urc~i ht•rehy, nr in ~x~rtormance ot any of Mort~agors obliRations. ~-o~en-
4 :~nt, or:~RrE~c~ments hemundt•r.:~ll of the indebtednecc securc~ hereby shall be~rome and be immedi:~tely due:~nd payaMe at the
; c~ption o( ~1ortQa~ee, w•ithout noti~•e or demand which are hereby exprestil~ ~~aived, in which e~~ent MortRaRee maV avail itself
~ o( :~II riKhts and remeclic~, at law or in equify, and this MortRa~e may be foreda;ed with all rights and remedi~s afforded by
~ ehe l:n.~s of Florida and AtortKaQor shall pay :~II costs, ch:~r~es and exE~enses thereof, includinR a reasonable attorney's fcr,
y including al) such custs, ex~~ensrs a~d attornt•~~'s fet•s tor :~ny retri~~l, mhearin~ or ap~x~:~ls. The indebteclness secured hereb~•
~ shall bear interest at th~ hiRhc•st law~(ul r.?te of interrst ~~er :~nnum in the State of Florida irom and a(ter the date of :~ny
~
~ su~•h default of 111art~agor. If the Note pmvidc~ for instalment paym~nts, the ~1oriKa~ee may. ~t its option, collei•t a late
' i-h:~rQe not to exceed tK•o c~ntY (or P:~c•h one dollar not ~kiid to the MortRaRec• wh~n due, fo reimburse the ~tortKaRee for
~ ex ~ensc~ in ~ollec~tin ~nd servi~•in ~
~ R such instalment paymentc.
;
~ 13. If dcfault hc~ made in payment. ~chen due, of any indehtedne.c secured hereby, or in ~~er(orm:~nre of any nt
; ?liort~aKor s obli~:~tions. iroveeartts or a~rerment hereunder:
~ (a1 !~1ortRa~ee is authorir.ed af an~ time, with~~ut noti~-e, in its sole discretion to enfer u{wn and take {x~~~ession of
~
thP ~1ortRaRed ProFx~rty or any p.~rt there~(, to ~xrform any actc MortKaRee deems nei•essary or proper to conserre the
se~urity and to collei•t and receicF all rents, is.r•ues :~nd ~iro(itv thrrt~of, in~•luding those past du~ as N•ell ac tho.ce a~~c•ruin~
- there~(ter: .ind
{h) ilfortgaRee shall I~e entitleci. as a matter uf strii•t right, without notice and exparte, and without re~ard b thP
~ ~~:ilue nr occuE~.~n~y of the se~•urett•. or the sol~•eni~y n( '~lortgaRor, or the adequacy o( the AtortgaRed Property as secvrih• for
the tiote, to ha~•e a rereicer appointed to enter u~~on ~nd take ~~.~ession oF the hlortgaRed Property, collect the rents an~i ,
- profits there(mm ar.cl apply the s:ime as the court mat• dircK•t, such rereiver to h:~~~e all the riRhts and i~ow•ers {~ermitted
under thc~ laws ~t Florida.
~ In either such ca~, ~tortRagee or the rei~ei~•er may :ilso take ~~~xssion ot, .~nd (or these pur~~ses use, any and ,ill
_ ~~ers~,nal pm~~erty M~hi~•h is a part of the MortR:~Qed Pro~~erty and used by 114ortga~or in the rental or leasing thereof or ~
:im~ parf thereoL The expense lincludinq rec•ei~•er's fees, counsel (ees, costs and agent's comF~ensation) incurred pursuant •
= to the powe~ herein contained shall be secured hereby- ;~tortga~ee shall (after payment of all costs and expenses incurreci) '
- -2- '
3coRz~ c~c~ "
~ 221 ~ -