HomeMy WebLinkAbout0315 :u•ruunl tu ~?:~y su~•h ~•h:~rg.~s Hh.~n ~lu~~ sh:~ll iM ~r,~id by ~turt~;:~kur tu 11~~r1~;aKiK• un d~•m:~nd. !I. bc rc•:~sun ul any ei~•t:iull
by \tortK~?gor under a~ny pro~•isiun o( this hfortKuKe, (lfortKi~K~~e dr~•lxr~•d :~ll sums +e~•umd hen•I~y tu I~e dut• and ~,:~y.~1~1~•.
Rlortg:+gee m~+y then a~>ply any tunda in s:?id :~~•~•ount :i~:~inst thr entim indchti•d~~c.i: sri•urrd hi•n•by. Th~• enforcraLilih• uf
thN ~~ovenunts relutinR tu tuzc~x, t?~c~mentR nnd insun~n~r premiums hemi~ otherw~e:~ pmv~dc~f sh:ifl not tx: a((ect~rl i•x~•~•pt ,
~nso(<~r as those obligutions have t?ec~ met hy com{diunce with this ~xir<~gn~ph. ~fortRaKee m.ty imm time fo ti~nr at its
option w•ai~•e, and after nny such wru~er minst:~le, any ur .~l) provisiona hereof reyui~inK xuch de~wsils, by noti~r to
~~lort~ngor in writinR. ~Vhile n~y aurh wai~•er iR in et(i~i•t. I11urtRagor ~hall µ~y I:~xes, .issca5mrnts nnd inaur.~n~r ~~rrm~ums
:~s hc•min elsewhere provided.
a. 'I'o prompdy p:iy i~ll t:~xcw und .?sxe::YinentK assa•su~1 or Ievi~Y1 under :~nd by virlue oI .~ny sf:?te. I~vler.d. ur munirip:d '
luw or rcgulution hen~~(ter ~k~xved, ug<iinwt Atortgugre u~wn this MartKuge or the dr!>t hrrrby se~•un~ci, or u~wn ita interrwt
under this Mottguge, pro~•ided huw~ever, that the toU~l aioiount sa jhiid (ur t~ny ~uch t:?Y~5 {?ursu:~M to this {~:~r:iKraph toKi•ih-
.~r with the interest jx~yuhle on xaid indebte~iness ahull nut exce~a~ci lhe highest luwtul r.?te ot intere~t ~n Floridi~ und pro~•id~~ci
furthe~ lhat in the e~~rnt o( the {~sw:+ge of any ~uch luw ot n•gulation im~?osinR a~ faz or aksex,ment aK:~inst Alortga~ker up-
un this I~lortg:iRe or ihe dei?t s~~.~und hereby, that the rnt~rc~ inclebttxl~u:tiv surunYl by this \tortKaKe sh:~ll th~~reu~x~n IK•-
~~ume immediatFly due <ind ~~:ry.+ble nt the option of MortKa~gcr. ~
5. To keep the hiortgaged Yra~?erty insured uKainst lox~ or d:~muKe by (ire, and .~II I~rils insurrd .?g.+inst by .~n ex-
tc~ndEY! ro~~er.~Re ~ndorsemrnt, .ind ru~•h other risk~ :~nd ~x rils ax Morlg:~~ec~ in ita disi•retion muy myuim. 7'he ~K~li~~y or ~
{x~tiric~x o( such insurani•e shall be in ihe torm in gener:+l u:ae from time to time in the lo~•ulity in v?~hic•h thr AtorIK:~Kc~d
Pn?E~ertv is situuti~l, ~half t~e in such a~mount :~s \1ortKaK~~c may mxson:~bh• require, shall Ire ivuc~ci hy a~•ompam• or
com~xmies appro~~eci by 14lort~cegee, ~nd shull cantain a standard lKugcY~ clause with loss pay~ible to !11ortKugre. \Yhen-
c:ver required by Alortg:~gee, such {wGcic~, shull t~e deliven~cl i~~tely to s~nd held by MortgaKre. Any :~nd all umouM.
rereived by .1lnrigugee under, any ot such {wlicies cnay l~e appli~d by 1ltortgagee on the indet~tcdnc~x scMUr~K1 hereby in cui~h
munner as lbiortgagee muy, in its sole disi•mtioa, elec•t or, .it the o~ition of 1~1ortKaRri~, the entire .~muunt so rcti•ei~ed or any
par! thereoi may ?~e r+eleased. Neither the application nor the release of anp s~ch atnuunts shaU ~~um or waive any default.
U~wn exen~ise of the ~H»~•er ot ~:~le given in this Aiortgage or other acyuisition of the MortR:~Recl Pro~x~rty nr :~ny p:ut therc•- '
ot bt• :~iortg~gee, such {~olici~ shall i~-ome the .~fu~lute {~m~~erty of t~tortx.~gec~. : '
6. To first ohtuin the H•ritten ~•onsc•nt ot T1ortKaK~~, sueh ~•on+ent to tx~ ~ranlt~i ur withhelc! :~t the= s~}le di.cre'teun ul
A1n~tqagec, before (a) remm~ng or demolishinK any huitding now or here,~(ter rn~•tt~f on the prrmiscs, t6) alterinR th~•
arnnRement, desi~n or stn~e•tar.~! character thereof. (r) makinR any m~x~irs which invol~~e the remo~~al a( stru~tural ~~:+rts
or the es~?c?sure o( the interior of such buildi~R in the elements, Idl cutting or mmo~•ing or F?ermitting the cuttinR ~nd re-
moval o( any trees or timber on the 11lortRaRed Pm~~rt~•, (r) remo~inR or e:changin~ :~ny tan~ible personal pm~x~rty w~hirh
is ~~:~rt of the RtortRaged Yro~~erty, or (f1 enterinR into or mcxlifying:~ny le:iars of ihe 1~1ortRaRed Yro{~rty.
7. 'Ib m.~intain ihe A1ottRa~ed Property ih Raxl condition and mp:~ir, inc•IudinK hut not limite~f to ihe makinR of such
re~k~irs .is MortR~gee m.~y from time to time determine to F~e ncrrsc:iry (~r the pre~n•:~tion ot the ;11ort~:~Krc1 Pm~Wrty :~nd
ti~ not ~ommit or ~~ermit nny w'stste thereof.
S. 'Ib ~ro~nplr' with all laws. ordin<inces, mrulatiuns. cot~enants. ~•onditiun~ and re•slrictions afle~~~tin(; the \1urtK:~~cr1
Yro~xrty, and not to su((er or {?ermit any ~~iolation themof_
9. I( Mortgagor t.~ils to {u~y any elaim, lic~n or em•umbranre whii•h is ~u~x~riur tu this AtortK:~ke, or when cfue, :~m• tax
or a~essment or insur.ince premium, or to keep the AiorigaRect Property in repair, or sh~ill commit or ~~ennit N•aste, or if
there he commencecl any .+ciion or proreedinR affe~•tinR the ~tortgaRed Property or the title thereto, or the interc~t o( `
l~iortgagee themin, including, but not limited to, eminent dom:iin and h:?nkruptcy or mor~aniz~tion pra•eedinga, then
~ ~9ortgagee, at its option, may pay s:?id claim, lien, en~•umbrance, t:~x, a~sessment or premium, K~ith righl of submgation
thernunder, may make such repairs and take such steps as it dcrms .~d~•i~:ible to pre~•ent or cum such waYte. :ind may
~~PF~'~+r in any such action or pnx•eedinR and retain n~unsel lhemin, and take such ~?ction therein :~s rlortKa&~ dc~emc ad-
~ ~ is:~ble, and (or :~ny of such ~,ur~x»es Dior1K;+Kee may advance auch sums o( money, including all ~-osts, rexsun.ible .~Uorney's
i fees and other items o[ exl~nse as it deems nee~~:+ry. A1ort~aRee sf~all lie the sote judRe ot the IeRality, validity and priority
' uf any such claim, lien, encumbranc•e, taz, assessment ~nd premium aind of the :~mount necessi~ry to t~e ~xiid in saUs(action
~ thereoL Mortg<igee sha~l! not i~e held accountable for any del:?y in m:~kinR any such ~~yment, whi~•h delay m:~y result in ,
any additional interest. ~•osts, ch~r~es, ex{~enses or utherwi~e.
10_ ~forigaKor wi11 ~r.~y lo \tortRaRc~c~. immrdiately and withuut denuind, all sums o( money :?d~~a~~•ed by MortK~~K~K'
to prote~•t the sc~vrity hereo( pursu:~nt to this ~lnrtgaRr, includinK all ~~~sts, mason.~bte attorncy~s fec~ and oiher items of
~ ex{iense, together H~ith interest on eai•h su~•h advanccmenf af the hiRhest lawful rate of intc•rest ~>er annum in the State of
= Ftnrida, :~nd all su~•h sums ~end interest thereon ~hall tx• scv-urrd herebp.
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11. AI( sums of monee u~i•ur~~d F~c•reht~ ~h:~ll !:e- fea~•:~f,le• ~vithnut any n•li~( Hhalevt~r (rom :+n}• ~:+lu:~tion or appr:~i~e•-
y ment lau:,,
' 12. It def:~~lt 1~e madr in ~~:~vment u( arry inst;~Imrnl uf prin~•ipa! ur interrst ot the :\ote or an~• part thereo( v.hen
} due, or in payment, when due, ur any other sum secured herel~y, or in ~~er(ormance,o( any o( A'fortRa~or's ot?IiRations, ~•ovrn-
_ :~nts or aRreements hereunder. :dl vf the indehtedne~c k~vrc~d hereby shaii I~oine and 6e imrr+ecli8telr.~ye s~nd p~~;ahie at the
~ uption of Llort~aRee, v~•ithout ~oti<~e or demand H•hi~•h are hetehy expr~~+ly waived, in ~•hir~ evept D4prtgagee may acail itself
o( .~11 riRhts and remedies, at iaw or in equity, and this AtortRaRe ma~• !ie (oreclosed K•~th all riRl~ts and temedies atforcled by
~ the laws of Florida and MortR:i~or shall pay all i-osts, c•harKc~ :~nd ~xE~enses thereof,`inctudih(t a Teasonabte attprweye fee.
~ in~•IudinQ all such cnsts, ex~x nse:: and attorney's fers t~~r :~n~ retriat, mhearing or appee~ls,, Th~ indebtedness securecl ~hereby~
- shalt becu intere4t at the hi~hest lau•fu! rate of interest {x•r annum in the State ot Florid:~(xp~n and ~[ter the date of am•
= slich default o( T1ortRaRor. If the Nate pmvides for instalmrnt {~:+yments, the Atort~aQee m:iy, at its option, collect a iate
i•harRe not to ex~•eetl two i•ents (or c~ai•h one doll:~r not {r.~id t~ the b'IortRagee Hhen due, to reimhursc• the A1ort~a~ee for
` ex~xn~ in ~~ollertinR and servicinR su~h instadment p.~ymE~nts
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_ ~ 13. I! default f?e rnade in payment, when due, of any indehte~dniws secvred hemhy, or in ~~er(orm:in~~c n( nny of
11ortQaRor's ob1iR:~tions, c•ovenants or a~reement hereunde~r:
la) MortKaKee is authorir.c~l at anp time, without notii•e, in ifs ~le disc~retion !o enter u~wn and t:ike }xi~~ession of
thN l~tortR:~~;c~'m(x~rty or am~ ~~:~rt therEy,t, to pFrlorm :~ny acls :11ortKagre dcems nei•esaary or ~~m~~er to c•onsen•e thF
serurity and to colle~•t an~! re~•ei~e :ill rcmts, issu~~ :~nd pro(its thercY,(, in~•luding th~:e p:~st dae as welt :~s those a~v-niinQ
thereatter: and . -
~ Ih? ~~O~~iIP,PP S~lall I~e entitlecl, as a matter o( strii•t right, without notice and exparte, and ~~ithout regard to the '
v:~lue or occu~k~n~y ot the securify, or the sol~~ency of ~1ortK.ignr, or the adequary of the :~~ort~aged Pro~~erty as se~•urity fnr
` the Note, to have a rec•eir~r apEx~inted to enter upon ~nd take {?osses~cion of the MortR:?Kf'd Property, ~•ollect the rents and
profits therefmm and apply the cune as the ~ourt may dimct, such reiriver to ha~•e all the riRhts and ~~oµ•ers permitted -
under the laws of Florida.
` In either such c:isc, ~tortRagee or the recei~er may :~Iso take po.,ses.4icm of, and for these pur~m~es use, any and all
_ ~~erw~nal pro~~erty which is a part of the MortRaged Fro~~rty and used by MortRa~or in the renta{ or leasing thereof or
4 :inv (k~rt thrreot. 7~h~ expense (including recei~~er's fees, ~ounsel tees, costs and agent's compensation) incurred pursuant
to the powers herein contained shall Fx~ secured hrreby. AlortgaRee sfiall latter payment of all costs and ezpenses incurredl
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~ . 3~oK ~O~ ~aGE 3~J
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