HomeMy WebLinkAbout0351 :~c:uunt to ~?:?y su~•h ch:~rg~~ss when due whull Ir~ {u~~d 1?y MorlgaRor tu hlurlgug~~a un dc•~nand. !t, by n+uxpn of any defuu~t
by Hlortgngor undr~ uny pn~vision o( this Morigage, hiortRagc~e declnres all suma i+ecured hemhy to he due and {?:tyable,
111urtR+iger nuiy thNn t~pply any (uncls in ai~id nn•ount again.st the entire indehtc~cineas secun~l herrby. The e?~torcenbility ot
the i•ovenanta mliiting to tuxee, n,~seasmenls and ine:un~nce premiuma herein othetwise providec) shall oot t~e a(fected exi~pt
insotar .~s those obligutions ha~~u been met hy complianre with this {x~rngniph. I~tortgagee mny 1rom I~me to time at its
uption wnive, ~nd i~tter nny auch wa~iver reirustute, any or ull provisionA hereo( myuirioR aui•h de~wxita, by nutice to
Mortgagor in writing. While a~ny such wuiver ie in eftei•t, rlortgi~gor shaU ~iy tuxes, 7ixsessments :~nd insur~nce ~~remiumx
:iy t~emin elsewhe~c ~iro~•ided.
4. To prompdy puy aU luxes t?nd u~:ser.vn~ents ux~~d or levied under and by ~~irtue ot any stute, tecferul, ur munici~u~l
luw or K~culi~tion hemufter tx~xsed, u(tuinal 1~1ortKaRee u{wn this I~lorlgage or the debl hrreby aecurrd, ur u~~n ils interest
under this Mortguge, ptovided however, thut /he total amouM so Ex~id (or any such taxea ~wn~uant to this {~aragruph toKeth-
er with the interest puy:~ble on aaid indebtcdnese shall not exceed lhe higheat lawful retr ot intemsl in Florida and provided
(uriher thxt in the evr~t o( the {~s:~Ke of uny such law or requlation impos~ng a tnx or assrssment agair?st MortRuKee up-
un this hlortguge or the drbt se~•ureci hNreby, thul the entire indehtedne.KS securc~i hy this i~1c?r1KaRe ~h:~U thrreu~x~n Im-
~•ome immediately due and {k~yatde nt the o~~tion oi Mortgaqee.
5. To keep the INortgi~rd Property insured aguinst losa or dumuRe by firn, and zdl prril~; insured .+Bainst by an e:-
tended iroven~ge endorsement, and such other risks and E~erils i~s 1Nortgagee in its discretion m:iy require. The {wli~•y or
{wli~•ies ot such insurnnce shall he in the (orm in genernl usse from time to time in the locality in which the MortRaRed
Property is eitualc~, shull be in such amount us MortK~iKre muy reason.~bly requirn, shall I~e issued by a~'om~iany or
comEwnies uppro~•ed by rlortgugee, und stu~ll contain a s4~ndnrd mortg~gee clause with loss ~x~yahle to AlurtRxgee. When-
ever required by Morigager, such {wlicies, shal) be delivered immedialely to and held by btortg~gee. Any and all amounts
re~ti ivecl by l~tortg~gee under s~ny of such {wlicies may ~e applied by Murtgagee on the indebtednes.g secured hereby in such
manner as Mortgagee may, in ita sole discretion, elect or, at the option ot 111ortgagee, the entire :~mount so received or any
~~art thereo[ muy be released. Neither the application nor the release ot nny such amounts sh:dl cure or wfli~•e <iny default.
Upon ezen~ise of the power ot ~le given in this MortRage or other s+cquisition o( the Mortg:iged Pro~~erty or any {~rt there-
of by Mortgagee, sui•h policies shall t?ecome the ubsolute property o( Alortg.~gee.
6. To first oMain the writlen rnnsent ot Mortgagee, such consent to t~ gr.~~ted or withheld at thr sole discretion ot
t,_r_ i._~ .I:e{.: :I.~:..o nr {~nroaffar arw•fw1 t~n f}u~ nrnmicPC IFI) allerine t~1C
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arrangement, desi~n or structural chamcler thereof, (c) m~+king ~ny m(u~ira which im~olve the removal o( structural p:iHs
or the e:poaure of the interior ot such buildinR to the elements, (d) cutting or mmoving or permittinR the cutting and m-
mo~~al o( :~ny treea or timber on the I1lortgaRed Property, (e) removing or ezchanging ~ny tangible personal property which
is part ot the Alortgaged Property, or (f) entering into or modifying s~ny le.?ses of tha AlortgaQeci Pro~~erty_
7. To maintain the Mortg~Red Property in gaocl condition nnd re~k~ir, including but not limited to the makin~ ot such
m~k~irs as 1~toriRage~ may irom time to time determine to be necesa:~ry for the preservation of the AfortRa~ecl Prol~erty and ~
to not crommit or ~~ermit any wasle thereof.
8. To comply with all laws, ordinancc~, mgulations, covenants, conditions and restrictions a((~•ting the 111ortRaRed
PmE?erty, and not tu suffer or ~~ermit any violation lhereof.
9. It l~iortgagor (ails to ~ury .my claim, lien or encumbrunce which is suE~erior to this MortRage, or vvhen due, :~ny t.~x
or assc~sment or insurancr premium, or to keep the Mortgaged Property in repair, or shall commit or permit waste, or it
there t?e cammenced any .+ction or proceedir?~ affec•tinR the 11~iortgaged Property or the title thereto, or the interest of
l~iortgugee therein, in~•luding, but not limited tu, eminen/ domain and bankruptcy or reorganization proceedings, then
1lortgagee, al its option, may }x?y s:~id claim, lien, encumbrance, taY, assessment or premium, with rigtit ot subrogation
thereunder, may make surh rep:+irfc and t:~ke such steps .is it "deems s~dvis:ible to prevent or cure such waste, and may
uppear in any such action or proceeding and retain counsel tfierein, and take such action therein as MortRagee der~ms ad-
vis~ble, and for any of such purposes Mortgagee may advxnce such sums of money, including all costs, reasonable attorney's ~
i fees and other items ot ex~~ense as it deems necess:~ry_ Mortgagee shall he the sole judge of the legality, validity and priority ~
of am• such ~•laim, lien, erx•umbrance, tax, as.se~ment and premium and of the amount necessary to be ~k~id in satistaction
thereoL Mortgagee s1w11 not I~e held acti~ountaMe for any del~y in makinR any such ~~yment, which delay m:~y result in
~ any additional intemst. c-osts, chargeic, espenses or otherwise_ .
~ 10. :~'lortga~or will pay to ~liortgagee, immrdiately and without demand, all sums of money ad~•anced by Mortg:+Ker
~ to protect the security hereof pursu~nt to thes rlorfgage, including all ~•osts, reasonuble attorney's tees and other items o(
~ ex~~ense, together with interest on each sach ad~~ancement at the hiqhest l:~w•ful rate of interest ~~er annum in the State of
~ Florida, and all such sums and interest thereon shall Ix~ se~vred herehy.
~ 11. All sums o( money se~vrcY1 herehy sh:ill i?e payable w•ithout any reliet ~hatr~~er fmm :~nr ~':~luation or :~~?pr.iise-
d ment lavc•s. .
12. It dPf:?ult t~e made in ~k~yment of anY instalment of principal or interesl of the Note or any part thereo( v~•hen
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due, or in p~~yment, when due, or any other sum secured hereby, or in performance ot any of ~14ortRagor's obligations, coven-
~ :ints or agreements hemunder, all of the indebtedness securect hereby shal! become and be immediately due and payable at the
'-..r. ~i :tluzi~ ~~:titu~~r ~~eS,-~ ¢r~:~ ;~•his•h a~ !~rn=h} rrq:rresly x~ai~eci "sn wh:eti e4•aat Mo•r~aoPO r.,av <+~~~il itwlf
~ of all rights and remedies, at law or in equity, and ihis '.Nortgage may be foreclosed with all rights and remedies afforded by
the l:iMS of Florida and MortR~gor shall ~iay all costs, charqes and expen.ges thereof, including a reasonable attorney's fee, ~
~ including all sunc ~osts, ex~~enses and attorney's tees tor any retrial, rehearing or appeala. The indebtedness secuted hereby ~
~ shall bear interest at the highest lawful rate of interest per annum in the St~~te of Florida from and a(ter the date of any :
~ such default o( A'lortgagor. It the Note pmvides (or instalment ~yments, the b'fortgagee may, at'its option, collect a late ~
~ charge not to exceed two cents for each one dollar not {~id to the I~tortgaRee when due, to mimburse the 1~tortqaRee for
~ ex~~enses in collecting :~nd servii•ing such instalment payments. ~
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~r 13. If default be made in payment, vehen due, of :~ny indebtednes.g secured hereby, or in ~>er(ormance of any of ;
' MortgaRor's obliaations, mvenants or aKreement hereunder:
(a) Mortgagee is aathorizecl at any time, without notice, in'its sole discretion to enter upon and take ~~ossession o(
the 11Tortgaged Property or any part thereof, to ~~ertorm any acts MortgaKee deems necessary or proper to consen•e the ~
secvrity and io collert and receive all rents, issuex and pro(its thereot, including those past due as well :?s those acrruing ~
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~ thereafter: and '
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_ (b) I~4ortgagee shall be entiUed, as a matler of strict right, without notice and exparte, and without mgard to the ~
= value or occupancy oi the security, or the soi~•ency of 111ortgs~gor, or the adequacy ot the Mortgnged Property as security tor a
the Note, to have a receiver appointed to enter upon and take pos.sesgion of the Mortgaged Ptoperty, coUect the rnnts and
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pmfits therefmm and applv the game as the court may dire~•t, such receiver to ha~~e all the righta and ~wers permitted
under the laws of Florida.
In either such case, htortg-agee ar the rncei~•er may also take possession of, and tor these purposes use, any and all
personal proj~erty which is a part of the Mortgaged Pmperty and used by Mortgagor in the rental or leasing thereof or
:~ny part thereot. The expense (including recei~~er's fees, counsel tees, costs and agent's compensation) incurred pursuant y
~ to the powers herein contained shall be secured hemby: Mortgaqee ahall (after payment ot aU costa and expenses incurred)
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