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HomeMy WebLinkAbout0355 ui•cuunt ta ~u~y xuch chur~;~~s whei~ elu~• sh:~ll I~e ~~:iid lry A1uHg:~gur tu [NortKug~v un demand. I!, by muxun ol :~ny delawi~ by 4lortgtiRor under ~~ny pro~~ision ot this Motfg~~Re, AlortRr~gc~• dec•lures +~II ae~tns scY•umd hrrnby tn i,e due :~nd ~u~y:~ble, MortKagrP rniry then apply any funds in ssi~id uccount aguinst the entim indeM~~dnex~ secunKl hrteby. The entorceubility of the covenunta relutinR to tatea, aseu~xamentA and inaun~~ce premiuma hemin othe~•i~ provideci xha+ll not be uttecteci except insoti~r :~s thoe~ ol~lignliuna ha~•e tK•en met hy complia~nre with thia purnRra~zh. ~'!~*',a,~eew nu~y from time to time at i1s option wnive, iind a(ter iiny auch wairer reenetule, r~ny or ;ill provisione hereot reyuiring such de~wsita, by notice io Mortgugor in writing_ ~Vhile any such wuiver ia in e((ecf, Mortgagur aht?11 {u+y taxex, asss~wnents and insurnn~•e pmmiums herrin elsewhere pro~•ided. 4. To prompUy }~ay all t~+xes aind user~xments as~~~~ci or le~•icd u~der and hy virtue o( uny xtide, (ederul, or munici~?al law• or regulutiun herrafter {x~~d, ugninst Mortgug~r upon this 141ortgage or the debt herwby securecl, or u~wn its intereat under lhis Morlgage, pruvided huwever, thuf the totat a~mount ao {?aid tar any su~•h tuxe~ ~?ursuunt to this ~wruKn~ph togeth- rr with the interest ~k~pt~blc on esaid indebtedness sluill not ex~red the highest law(u) n+le ot inlen~al in Flori~~ ~nd providecf ~~rther !h~t in !he rvwM ot the ~aw:+Ke ot uny such law or reRulation im~inR r~ la: or t~~sa•esment aRuinst MorlRa~;cr up- on this Mi~cl~t~ge or the debt sc~•ured heret~~, that the eniin• indebteYinews sc~•ure~ hy this MortRnRe sh:ill 1hen~u~H,n i~~- crme immedit~tely due and ~yable at the option of Mortg:iRcr. 5. To ~Ceep the Mortgaged Proj~eriy inxured .ixainat lu~ ur damuge by tire, and all ~ietils insumd against by t~n ex- teaded coverage endorsrment, and surh other risks :~nd ~~etils as Mortgugee in its discretion muy reyuire. The policy or ~~oliciex ot such inaurance ahnll he in the form in Kenend use (mm time to time in the locality in vvhi~•h the Mortg:~ged Pro~~erty is situuted, stwll be in such ,~mou~l as 1~lortgaKee mi~y t~t~sonably reyuirn, shull be issuetl by .i i•om~xiny or com~inies ~pproved by hiortgagm, :~nd slu~R contain a standard mortqagee clause Nith loss pays~tde to Mortgagee. When- e~~er required by MortgaRee, such Ex?licies, sh:?11 be delivered immed'wtely to and held by 1liortg~~gee. Any und all amounts mceived by lfortgagee under uny o( such policies mxy be Upplied by Mortgugee on the indebtedness secured hereby in such m~nner ~s 1~lortgagee may, in its sole disi•retion, elec•t or, at the option of Mortg.iRee, the entire amount sn received or .iny Ek~rt thereof may be released. Neither the application nor the release ut any such amounts shaU cure or wai~~e any de(ault. Upon exercise of the power ot s:ilP given in this Morigage ot other acquisition of the MortRaged Pro~~erty or any p.~rt them- ~f by M~rtgagee, such policiex shull becume the :ihsoiute property of MortgaRee. 6. 'I'o tirst obfain the w•ritten irnsent of Mottgagce, xuch conseM to I?e gr.~nted or withheld sst thc sole dis~•retion of tltortg.tgee, before (a) removing or demotishin~ any t?uilding now or herea(ter erecled on thc premises, Ib) altering the arrangement, design or structurnl character thereof, (c) making any m~wirs whirh involve the removnl of structural {~.~rts or the esposure ot the interior ot such bwlding to the elements, (d) cutting or rnmoving or permitting the cutting and re- mo~•al o( any tree.g or timber on the Mortgaged Pro~~erty, (e) removing or ex~•haoging any tangible per3onal propePty whi~h is ~~rt of the .tiortgaged Pro~rty, or !t) entering into r~r modifying any leases of the Mortgaged Pro~~erty. 7. To maintain the Mortgs~Red Pro~~erty in Rood condition and repair, including but not limited to the maki:~R o/ such re~Tairs as 111ortRagee may (rom time to time determine to tx~ neces_~-~ry for the preseRation o( the MortRaged Property and to not commit ~r permit any v?aste thereof. S. To comply with all l:iws, ordin~tnc~s, regulations, cu~•enants, conditiuns a~~d restrictions a(M'ec•ting the Mortg:~ged ProF~erty, and n~t t~ cuffer ~r l~ermil any ~~iolation thereof. 9. If Mortgagor fails to ~kry am• claim, lien or encumhrance which is suExrior to this Mortgage, or when due, any tax or :~.sses.sment or insurinm pmmium, or to keep lhe i~iortgaged Property in mEkiir, or shall co~e~mit or petmit w:iste, or it tAere be ~-ommenced any ~rtion or proceeclinA affec•tir?R the Mortgaged Pro{rerty or the title thereto, or the interest o( Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then Mortgagee, ~at its option, may ~k~y said claim, lien. encumbrance, tax, as.sessment or premium~ with tight of submgation themunder, may r~wke such rnpairs and take surh steps .~c it decros advisable to pre.•ent or cum surh waste, and may appear in any such action or proceedinR and retain counse) tfierein, and take such action therein ns 111ortgagee deems ad- visable, and tor xny of such purEx~ses MortKagee m:~y advance such sums ot money, including aU costs, reasonable attorney's fees and other itema ot eYpense :~s it deems nec•ess:~ry. Mortgagee shall be the sole judge o[ the legafity, validiiy and prioritv o[ any such c•1aim, lien, encumhrance; t~ix, assessment ~nd premium and of the amount nec•essary to tx ~~id in satisfaction thereof. MortgaRee sh:tll not he held accountable for any delay in making any such ~~ayment, whii•h delay may resulf in :~ny addition:~l interc_zt. ~~osts, charRes, ez~~enses or athenvise. I0. IltortgaRor will pay to MortQagee, immedi:~tely and without demand, all sums ot money adv:inced by Aiortga~ee to protect the security hereof pursuant to this Mortg~ge, including all costs, rnasonable attorney~s (ees and other items of expense, together with interest on ea~•h such adv:~ncement at the highest lawful rate of internst ~~er annum in the State of Fl~rida, .~nd aU such cums .~nd interest thereon ~twll I~e sc~•ured herebti•. 11. All sums of money scn•urecl herehy shall he ~,:ryable withnut any ;.•;ieL whatever trom :~ny ~•nluation or appnise- ment laws. 12. If default t?c made in ~~:iyment of .~ny iost~ilment of prim•ipat ur interest o[ the Note or any ~xrt thereot when due, ot in payment, when due, or ~ny other sum secured hereby, or in performance ot any of Mortgagor'e obligations, coven- ants or a~reements hernunder, all of the indebtednc~s secured hereby sh:ill t?ecome and f?e immediAtely due a~d payable at the option ot MoKgaqee, without notiir or demand wbii•h are hereby expressly w•ai~~ed, in which event Mortgagee may a~•ail itaelt of all rights and remedies, at law• or in equity, and this rtortgage ma~ be (oreclo.ged w•ith all riRhts and remedies afforded by the laws of Florida and Mottgagor shall pay all costs, charges and e:penses thereof, including a reasonable attorney's fee. includinR all such costs, ezpenses and attorney's tees tor any retrial, rehearing or appeals. The indebtedness sec-ured hemby shall bear interest at the highest lawtul rate of interest per annum in the State of Florida irom and atter the date o( am• auch de(ault o( A4ortgagor. If ihe Note provides (or instalment µ3yments, the lliortgagee may, at its option, collect a late ch:~rRe not to exceed two rents [or ea~•h one dollar not paid to the ll~ortga~ee vehen due, to reimbutse the Mortgagee for ex~~enses in coliecting and ser~•icinR such instalment (h~yments. I3. If default be m;~de in ~~.-~yment, when due, of :~ny indef~tedness secured heret~v, or in pertormance of any o? 111ortQ.iKor's ohli~ations, covenaMs or aRmement hereunder: fa) ~1ortQ.~Ree is authotized at any time, without notice, in its sole disc•retion to entet upon and lake ~ssession of the ;lfortgaged Property or any t~art thereo(, to ~?er(orm any arts MortQaRee deems necessary or proper to consen•e the security and to colle~~t and recei~•e all rents, issues and profiLg thereof, includinR those {~ast due as v~•ell as those accruin~ lherea(ter. and Ib) Mortgagee sh:~l) he entitled, as a matter of strict righl, withuut notice and e:parte, and wiihout tegard to the value or occupan~y o( the secvrity, or the soivency of rlorigagor, or the adequacy of the Mortgaged Property as security for the Note, to have a receiver appointed to enter uJ~on and take J~ion o! the Mortgaged Property, collect the renta and pmfits therefrom :~nd apply the same as the court m~y dirert, such receiver to ha~e all the rights and powers permitted under the laws of Florida. In. either such case, ~iortgagee or the receiver may also take }wxsession of, and for these purposes use, any and all {~ersonai pmperty which is a part o/ the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or any part thereot. The expense (including receiver's fees, counsel fees, costs and agent's compensation) incurred pursuant to the powerg herein contained shall be eecured hereby. Mortgagee shall (after payment o( all costa and e:penses incurred) -2- . 8~~~ 281 ~A~E 354 , . .