HomeMy WebLinkAbout0240 :u~ruunt tu ~~:~y su~•h i h:~r~;rs ~~h~•n du~• .hall IK~ {r.ud h~~ !11~~rt~;:~~;or Iu \1urt~;:~R~ti• ~~n d~•m:~n~) 11. h~ rr:~.un ut :~n>• ~Irl:~ult
bp ~lort~;agor und~•r un.v pro~isiun u! this ~1~~rtKa~i~, \1urtKuR.v~ d~~~•L~rrx ull .uni~ ur•urcvl hc•rrLw to tK~ dut• a~~J ~~:~~;~Lic•.
~1o~t~;:~~;~v~ m:~~• th~~n .~p{~I~• uny fu~uls ~n s:ud a~•~~uunt a~;:i~n+t the i•nUm ind~•hti~dn~~.~ ~K•un•d hrn•Iry. 'I~hi• enlur~~~•aLility u(
the cov~nants n•lating tu I:~xes. ~~~rs.inents ancl iru:ur.u~r~~ pr~mn~nu~ hrrrin ntherw~~ providc~cl shall not lie uflecl~rl i~x~•r~?t
inso(c~r ns Ihu~e obliK:itions huvr IKti~~ met by i•am~~li:~nr~ a~th this {uira~;r+~ph. MortknKee may tmm tiine to fime a~t its
option ~~~ui~•e, und u(te~ uny xuch w.~i~er reinst:Ur, uny o~ :~II pn~visiu~~.c her~w( nK~uirinK suc•h de~waitr:, by nutii•r tu
~1ort};a~;or in M•ritinR. N~'hile a~y suc•h w.iiver is in ~•ft~~.•l. A1u~tRagur shall pay luxev, a»~++mentx .~nd insur:~nrt~ ~~mmiums
as herein elsrwherr pro~idc~l.
a. 'l'o pron?pUy puy :~II tai~•+ und a~+~ :.~~n~~nh :~s,.•,.wv1 u~ lev~~~l u~ider :~nd h~~ ~•irtu~• o( :~ny slatr, (~vlerul. ur muniri~r.~l
I:iw or ~rRulation h.•n.ifte~ (k~vecl, nFainst A1orlK:i~;~•e u~wn thi~ AlortgugN ur thr d.rbt hrnby ~ecunvl. or u{wn ils inirrrst
undrr this Aturtgage, providc~d huN•ever, that Ihe totul amount w paid (or t~ny su~•h 4~xc~s ~~uryuanf to this ~k+r.iKraph tugeth•
er with the intereat ~~y.~ble on ~:?id indebt~dne~ ,hidl not exi•erd ihe hiRhrst luwtul r.~te of inten•st m Florida .+nd pro~ id~•d
further that in the event o( lhe {k+.c,v~Ke ol any such law or n•gulation im~wsing n tax or a~~a~n?ent against 111ortKu~;~~e• up-
~n this AlortguRe or thi• debl se~•und hrreby, that thr ~~ntim indebt~~Jt~~•.c k~a•un•d hy thiti \turtka~;c~ shaU th~•reu{iun Iff..
~•ome immcrliately due und ~?:~yubl~ xt the option o( r4ort~;ak~~•.
~i. To keep !he Nlurtguxecl Pro~~erty insurrcl :~gainYt lus.v or dnmatie by tire, and aill I~rils insurrd a~;ainst hy :~n ex-
t~•nd~~d i•o~~~r.~Ke endursement, and such other risks .~nd E~rils :~s Mortg:~Ree in its disi•retiun m:~~• myuire. '1'he ~N,li~•y or
~wlici~~ of such insurun~~ shall be in the form in ~eneral use fmm tim~ to tirne in the Icx•.~lily in whi~•h the ;11ortK:~Ke~1
I'ro{xrt~• is SILUAIfY~, 3}lall lx in su~•h amount :~s ~1ortKay;~r~ m:~y n•.isunabh• re~yuire, shall 1~ iuu~~c1 hy i•um~xu~}• ur
~•omp.inies approved by Alurtg:iKer, und shall cont.?in u stand.~rd mortKa~~~• cluuse w•ith lo.~s ~~uy:ible to 11<,rtK:~~;ee. ~t'hen-
e~t•r rryuir~~d by AtortRuKc~, su~•h {wlici~s. shal) I~c• deli~~•n~cl immE~cli:~ti~1~~ tu and held 1~y 111urigaKre. Any and .111 :imuunts
rerei~•ed hy ~lortgaK~r under any of such {wlicies may ix applied by AlortKaKE~c~ on thl• indc~hlednc~sti se~•un~cl hereby in such
m.imier as I4lortga({ee m:~y, in its suly di~•mtion, elc~•t or, at the option of :11ortKaK~~c~, the entire amount so recei~~~ci or any
p.irt thereof m.iy_I~e mleased. Neither the :+pplii•ation nor the rcle:~se of any such :imounls shall cure or wai~•e anr de(~~ult.
lT~x~n eremiae ot the ~w~a•er o( s:~le Ri~~en in this :~tortR:~Ke or other ai~yuisition o( the 11ortR:~Q~~1 Pm~~rty or any p:~rt there-
o[ by ~tortg~~gee, such {~li~•i~s shall hecome thr :??uolute pro~x•rt~~ ut Atortg:~Kee.
Ei. To (irst obtain the N•ritten ~•onsrnt of ~tortK:~Kc~e, such ~•onsent to h~~ krant~Y1 ur N•ithheld :~t the sole dis~•mtiun of
Z1ortR:i~;ee, before lal mmo~•in~t or demolishinK an~~ buildinK no~v or herralta•r em~•ted on the premi~~;, Ih) :ilterinK th~•
arr.?nKement, d~si~n or 4tru~•turnl chan~•ter thereot, (c) makinR an}• re~k?irs which im'ol~'e thr re•mc?~:il o( ~trurtursl p:~rts
ur the ex{x~sure c~f the ~nterior o( such huilding to the elements, Id) cvttin~ or mmo~~inR or ~~ermittinR the c•uttin~ :ind r~-
mo~:d of any trees or timber on th~• 1~'IortR.~Keci Pm~~erh•, It•1 remo~•inR or exc•hanKinR any tanRiMe ~x~rson:il ~~ro~x•rh• ~~•hich
is {~art o( the A1ortKag~K! Yru~x~rty, or IO rnterinK into ur modiiyinK :~ny leases of thr 11urt~;a~;~K1 Yroperty.
7. To maint.~in thr Mortg:iRecl Pro~~ertV in ~o~x1 ~~onditio~i and rep:~ir, in~•ludinK but not li~nitcd to the m:iking o( su<•h
rep.~ers as 11ortRaKee may fmm time to time det~rn?ine tu t~ ne~~~sv~n tor the presen:?tion o( fhF \1oriR:i~cti1 Yro{xvh~ and
to not commit or permit an~~ waste themot.
S. 7'~, i•omply ~~ith .~II I:~ws, ordin:?n~-t~s, reKulations. <-u~'en~~nts. ~•unditiuris :u~d re.tri~•tions al(e~•tin~ thc \1~,rlkaKe~1
Yro~x~rtt~, and not to suffe~r or Ex~rntit any violation therrof.
9_ If ~tort~agur fails to pa~• .+n}• i•luim. lien ur encumbr.~n~~e whi~-h i~ .u~rrrior t~ this \turt~;aKe, or whi~n du~~, :~ny t:~x
nr :~~~;t•s.~ment or insuram•e premium, or to k~r~z the \lortKagc~ Pro~x~rty in rep:~ir, ~~r ~hall cummit or jh rmit ~~astr, or it
there Ix~ ~~ommem•ed aiiy :u•tion ar procr~.~ding .~ffe~•tinK thr AlortK:iKed Yru~~erty or the title therrto, or the interect ~~f
;11oriRa~ee themin, im•ladin~, but not limited to, eminent do~nain :~nd b:~nkruptr~~ or rrt•or~;ani~.ition proceedinQs, thc•n
i 11ort~a~a~e, at its option, ma~ p.~y ~:~id cl:~im, lien, en~•umhr.?n~•e, lax, assr~sment or pr~mium, with right ot suhroKation
~ thereunder_ may mak~ su~•h repairs and tnke su~•h .teps as it dcxrms ad~is:~hle to pre~'ent or cum such H:~st~, .ind ?n.+y
~ ~i~~}~ear in u~y such action or pra•eedin~ .ind mt:~in ~•uunsel tfierein, ~nd take such c~rtion therein as !11or1Ka~e~e deemx ad-
~ia~ble, and tor .iny uf such pur{w.es 11ortK:~Kee m:iy adc.~nre such sums of money, im•ludin~ all i~u~ts, reawnable atlcirney~s
fees and other ite~1L~ o( exprnse as it deems necE:~~:~n~. :~tortFag~~~ shall Ix the sole judge of the IeK:ility, ~~alidity and priority
! o( anr such ~•laim, lien, encunihranre, t.~x, assessment and premium and o( the mm~unt ne~•ess:~ry• to be ~x~id in satis(action
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y thert~f. htortRa~ee shall not be held .i~•countab(P for ~ny drlay in makinK um~ surh {~:iymenl, whii•h del.?y m:ry result in
~
:iny addition:~l interrst, cust's, ch:irRe:~, rx~~nses or olht~rN~ise. .
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~ 10. \lorigaKor ~~'i? p:?y tu '~1ortR:~kcr. immedi:?tel}• and Kilhout d~~man~1. :~ll sums af money :~d~.in~•ed hy 11ort~a~E~•
~ to prote~~t the sei~urily hereof pursuant tu thi~ '~tortRaKr, includin~ nll i•o~ts, re:~sunable attorney's Ires and other it~nv. of
€ ex{x•nse, tu~ether N~ith int~•rest on e:u~h su~•h ad~~anrement at the highest lawful rate of int~rc~st ~~r annum in the Statk~ of
~ Florid:~, and all such sums and intrrest themnn shall lx~ secun~tl herc•in•.
i
~ 11. All sutns o( mone~• ~e~•urcK1 ht•mh~• .h:~ll Ix~ ~racahle a~ithuut :~ny r~~lic~f K•hatc~~e~r from :iny ~aluation or :q~pr:~i.e
~ mt~nt I:~~c;
~
~ 12. lf default t~ m:~de ~n pa~~ment of an~• in;talment of princip:d or inlerest uf the i\ute or any part th~reof ~•hen
~ due, or in p:~yment, w•hen due~, or any other sum u~~•ured hereb~~, or in ~~er(orm~n~e o( :~ny of :~lortga~or's obli~ations, ~•u~'~~n-
r :~nts or a~reement~ hereunder. :ill of the ind~htedn~~;s ~KVrc~cl ht~rc~by shall tx~rume .~nd be immecliately due and payahle at th~•
~ option o( ;11ort~agec~, withuut n~ti~•e nr demand ~hi~•h :~rn herehy exp~essly w~ai~•ed, in rvhich e~~ent :~tortg:igee may a~ail its~lf
E of all riKhts and re•medies, at law• or in ga~e may f~e toreclc,.5ed ~~ith all rights and remedies attord~ci b~•
eyuity, and this '~tort
the law~s ot F'lorid:i and rlortQaRor shall p:~y :ill costs, ~•harKt~ :ind exi~enses thereo(, includin~ a reasonal~le attorne~~'s fec•.
~ includinK .ill su~•h .•osts, ex{~en~ and attorney's tees (or any rFtrial, rnhe~rinQ or ap~>eals. The indetitednesc secured hrrc~h~•
s shali Ix•:ir intere.t :it the hi~hest law[ul rate of inter~~si ~x~r annum in the titate of Florid;~ fmm and :~fter the d:~te ~f :~n~~
~ ~uc-h default of ~1ort~taKor. If the ~ote pro~idc~ fnr in.talment ~r:n•mentc, thc~ ~1ort{;akee m:~y, at itc uption, i•oll~~•t l:~te
~•har~e not to eact~ec~ two i•ents for ea~•h nnc• dullar nut Er.~~d to th~ \1ort~a~cr when due. to rc~imhurse the Atorf~a~~e for
3 Px~?e~nce. in c•ollectin~ and s~•r~ii•in~ su~•h instalment payment~
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13. If def:~ult Irr made in payment, when due, o( an~~ indt•btcY3n~•~.c ~ec~re•d hereby, or in {x~rformani•e of am~ uf
~1ortRa{~or s nhliKations, cu~-enants or aKrc~ement hereunder
laT !~iort~.~Kee ic ~~uthorir.Pd at an>• timE~, ~~ithuut notii•e, in its sole disrretion to enter u~x~n and take ~w~~~tisiun uf
thf~ A1ortKa~t~ YroT~ert}- or any ~r.~rt thereof, to ~~ertorm :inc• aris ltortK:~~;ee deems n~ce_c,ary or pm(~er to i~onsen•~• ihe
~ Securitv and to i•oll~~~t :~nd re~~~ei~•c~ all rents, issue~, and pru(ifs thereof, in~~luding those p:~st due as K~eU :~s those a~Y•ntin~
- thereafter: and
(h1 1liortRa~ee shall fir t•ntitlcYl, as a matter o( stri~~t ri~ht, ~~ith~~ut noti~•e and exp:irte, .~nd ~~~ithout reeard t~ the
~•:ilue or occupan~•y of th!~ ~•urity. or the• sol~~ni•y o( Alortga~or, or the adeyuacy of the A1ort~:~~ed Property as sec•urity for
the Nnte, to have a re~•ei~er ap~x~inted to ~nter u~mn and t:ikc~ ~io+~c•s~:ion of the ~tort~aRed Property, collect the rents and
~ pmfitc therelrom nnd ~ppl~ the s:~nto as fhe ~•ourt may dirc~c~t. ~u~•h r~~-ei~•er to h:~~-e :el) the ri~hts ~nd ix~w•ers F~ermitted
- under thf• I:~ws of F lorid:~. _
- • In cither such ~~as~, ~fort~aK~r or the re~•ei~_er m:iy also t.~ke pos..~ession oi, and for these pur~wse•s use. .iny and all
~~er.wnal s~ro~~erty whi~•h is :i part of the Nort~aR~~c1 Pro~iert}• and used by T1ort~aKor in the rental or IeasinR thereof or
am~ p:~rt therc~f. Th~ ex~~ense tincludin~ rei•ei~~er's fees. c•ounsc~l tc~s, c•osts and aKent's compensaiion) incurred pursuant
~ to the po«ers herein ~~ontained shall be secured hereby. 1lortgaQee shall (after p~~~ment of all costs and expenses incurrecl?
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