HomeMy WebLinkAbout0429 :~c~•uwtt to ~k~y xuch ~~hurg~~c when dut• sh.~ll tK ~r.~id by AtortK:~Kur to 111urtK~~g~w on drman~l. I(. hy ~e:ua~n of :iny ilrl:n~ll
by hiortgugo~ und~r uny provision of thix Mortgi~ge, A1urtKugee declu~es ul) swna :~ei•un~ti hemby to tM due t1U(I ~NIYUI~II•,
Atortga~gre nu~y then upply uny tuncla in at~id i~n•ount :~Kuinat the rntire indebt~tiinexa xea•urrd hennby. ThN e~(on•t~;~biliry of
the coveiwnls cetaiing to laxes, iiasessezme~ta nnd inaurunce premiuma herein atherwise provided ahull not Ix: a(tectcrf exrnpt
innotar aa thase ohligationa huve l~een met hy romplinnce with thia pa~gr.iph. 111orlgaKee may from time to time at ita
option wuive, und sdter uny surh wniver reinxt:ite, uny or all proviaiona hereot requirinR auch depusita, by noti~•e to
rtortg~~gor in writing. While Any auch wuiver is in e((cr t, hloHgngor ahall {xiy tuxes, t~ssexaments a~nd inxuramr premiuma
:?s hemin elsewhere prorided.
4. To promptly pay ull tuYr~s and uss~xamenta uas~~a.wvl or levi~~1 under :~nd by virtue ol :~ny ataite, t~~iernl, or municipal
I:~w• or mgulation herexfter {wxved, i?guinsl 1Nortgugc~e u~?on lhis Alortgage or the debt hervby sea•un.d, or u~wn ita interesl
un~ler thia Mortgage, pru~~idrd however, thut the tot~l amount so ~mid tor uny such taxes pur~w?nt to thia Fwr.~gru~~h togeth-
er with the interest ~xiyuble on suid indebtecfnese s1uw11 not exceed the highesl lawlul t~t~ o( interost in Florida und i~ro~~ided
turiher that in the e~•ent ot the p:txnxge o! uny auch !aw ur regulalion im~~osing n tLx or xsseaxment .~gi~inst MortRaKre up- .
on this MortgaKe or the debt se~•ured hemhy, Ih:it the entirn~ indebteclne~s ~•umcl by this MortR:~Ke shall thereu~x~n iK•-
e~me immc~ialely due and ~x~ynble at the option o( Murtgagcr.
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5. To keep the Mortgaged Pro{~eriy iru~ured +~g+~inst Iw~ or damuge by tire, und ++11 ~~erils insumd agaiiuit by an ex- ;
tended co~•ernge endorsement, a~nd such other riska :~nd ~ierils .is AiortgaRee in its discretion nu~y require. 7'he ~wli~•y or
~wlii•ies of such inxunmce shall be in the form in generul use tmm time to time in the locality in whi~•h the Mortgageci
Property is aituated. shull be in such amount as l~iortgagc~• may m.~wnably require, sha~ll i~e issucYi by u company or
comEuiniex s~ppm~•ed by Iliortgagee, and sh:tU cont.iin a staodard mortgagee clau:~e with loss {x~yable to Mortgugee. V1'hen-
ever requimd by 111ortg~gee, such {wlicies, shaU be delivered immed'uitely to nnd held by Morig.~gee. Any and all nmounts
re~rived by Moriqagee undsr any of such {wlicies may be applied by Mortgugee on the indebtedne~ secured hereby in such
manner ns 114origngee may, in its sole discretion, elec•t or, at the option of Atortgagee, the entire amuunt so rec-eived or any .
~u~rt thereof ine~y t?e releaxd. Neither the appliration nor the release of any such amounta shall cure or wnive any detault.
Upon exercise of the ~~ower a( sale gi~•en in this Mortgnge or other acquisition of the 4lorlgagc~l Pm{~erty or any ~uir! there-
o( by Mort~ugee, such ~~olicies sht~ll become the al~olute pmperty o( MortK:+Ree.
6. To tirst obtain the written consent ot Mortgagee, such con~nt to 1?e grantc~cl ur Nithheld at the sole dis~•mtion ol
Mortgagee, betore I~? removing or demolishinR riny huilding now or hem.dterrrected on the prrmi~es, Ib? altering thc•
arnngemenl, design nr stntclur:il chancter thereof, tc) making .~ny rnpnirs wl~ich im•olve the remova) ot structural ~k~rts
or fhe expo.gure of the interior o( such t?uilding to the elements, (d) cutting or mmoving or permittinR the cutting :~nd re-
mo~~al of any trees or timher on the MortRaged Property, (e) removing or exchnnging any tAngible personnl property which
is jk~rt of the Mortgaged Pm~mrty, or (t) entering into or moc~ifyinR :~ny leases o( the \iortgn~ecl Pm~xrty.
7. To maintain the 111ortgnged Pro~~erty in Ro«1 condition and re~k~ir, includinR but not limited to the makinR o( such '
reEkiirs as MoriRnRee may from time to time determine to t?e nec•ec4ary tor the preservation o( the MortRaRed Property and
to not commit or ~~ermit any waste thereo(.
8. To comply ~~•ith all laws, ordinances, regulaiions, covenants, ~•onditioa5 and restrictions atfecting the AtortKa~ed
Pm~~erty, and not to suffer or permit any violation themof.
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9. If Mortgagor fails to {kiy any claim, Iten or encumbrance whi~~h is su~~erior to this MortRage, or when due, :~m~ t:ix
or assessment or insurt~nc^e premium, or to keep the htortqaged Property in re~~ir, or shall commit or ~~ermit wuste, or if
there he commenced any ~etion or proc•eeding -affec•ting the 111ortgagecl Property or the title thereto, or the interest of
Mortgngee iherein, inclnding, but not limited to, eminent domain and bankruptcy or reorganizntion proceedinqs, then
Mortgagee, at its option, may pay s:iid claim, lien, encumbrani•e, laY, as.sessment or pmmium, with right o( subrogation
thereunder, may make such mpairs and take such steps as it deems advisable to pm~ent or cure such w•aste, and may :
appear in any such action or proceedin~ and ret~in counse) tfierein, ~nd take such action therein s?s 1~1ortRagee dc~ms ad-
visable, and tor any of such pur{wses 111ortgagee may advance such sums o( money, including all costs, reasonable attorney's
fees and ot6er items o( ex{~ense as it deems r,ecess:~ry. MoHgagee stwll be the sole judge of the (egality, validity and priority
I o[ any such claim, lien, encumhrance, tax, assessment and premium and of the amount necessary to be paid in satistaction :
[ thereot. Mortgagee shstll not l~e held xccountable for any delay in m:~kinR ~ny such payment, whirh delay may result in
i .iny additional inlerest, costa, charRes, e:per~ges or otherwise_
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j 10. Mortgagor ~+•ill pay tu 114oriRagee, immediately and without demand, :ill sums ot money advan~~ed by MortgaRc~c
~ to protect the security hereof pur'suant !o this Mortgage, including ail costs, reasonahle attorney's fees .ind other items of
ex{~ense, together with interest on each such advancemrnt at the highest laK•ful rate of interest ~~er annum in the Stnte ot
Florida, and all such sum~ nnd interest thereon shall be secured herehy.
12. All sums of money ~•curecl hereb~ sh:ill I~e pay:~ble H•ithout any relit~f w•hate~~er (mm :~n~- ~~aluation or :~ppr.~ise-
t ment lavvs. ,
~ 12. It defau{t t~e made in ~?ayment of any inst~lment o[ principal ur interest ot the tiote or any ~~art thereof whe~i
due, or in payment, when due, or any olher sum secured hpreby, or in E~erformance of any ot Mortgagor'a obligations, coven-
:ints or agreements hereunder, all of the i~debtedness secured hereby shall become and t?e immediately due and payable at the
option ot Mortgagee, without notic-e or demand which are hereby expressly waived, in which event Mottgagee may a~~ail itselt
ot a~ll rights a~d mmedies, at law or in equity, and this 1ltortgage may t~e foreclosed with all rights and remediea aitordecl by
the laws of Florida and Mortgagor shnll Ex~y all costs, c•harges and ex{~enses thereof, including a reaaonable attorney'a tee,
including all such costs, expenses and attornev's fees tor any retrial, rehearing or appeala_ The indebtedness secured 6ereby
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~ shall t?ear intemst at the highest lawful rate of interest ~~er annum in the State of Florida from and atter the date of .iny
~ surh detault of 113ortq:~qor. It the Note prm~ides for instalment payments, the 1lfortgagee may, at its option, collect a late ~
~ charRe not to exceecl tw•o cents for eai•h one dollar not paid to thP !11ortQ~Ree when due, to reimburse the MortRagee (or
pe R :ind servicin payments.
~ ex nses in rollec•tin R such instalment
~ l3. If default t?e made in payment, when due, ot any indebtedness secured hereby, or in pertormance of am~ of
~lortgaRor's obliQatiuns, covenants or aRreement hereunder.
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(a) ~1ort~i~Qee is authorir.ed :it any time, without notice, in its w>le discretion to enter U~~on and t:~ke ~w~session of .
the Alortgaged Pro~~erty or .;ny part thereot, to ~~er(orm any acts A1ort~aRee deems necessary or pmper to consen•e the
~ security nnd to colle~~t and rec•ei~-e all rents, issucw and profits thereof, in~ludinR those past due aa well as those acrruing
~ thereafter: and
(b) Mortg~gee shal) t?e entitled, as a m~tter of strict right, without notice :ind e:~nrte, and without regard to the
~:~lue or occupancy of the security, or the snlvency of 111ortgagor, or the adequary of the 1Vlortgaged Property as seivrity tor
~ the Note, to have a rerei~•er appointed to enter upon and tnke possession ot the 1Nortgaged Property, coUect the rents and ,
~ pmfifa theretmm and apply the snme as the court may direct, such recei~•er to ha~~e all the riRhts and powers permitted
~ under the laws of Florida.
j In either such case, Mortgagee or ~the receiver may also take poasession ot, and for these purposes use, any and all •
~ ~~er~nal properiy which ia a~k~rt ot the Mortgaged ProE~erty and used by Mortgagor in the rental or leasing thereof or
;s any part therc~oL The expense (including rerei~•er's fees. counsel teea, costs and agent's compensation) incurred pursuant
~=2 to the pov~•ers herein contnined shall be secured hereby. hlortqagee shall (aiter payment of all ~osts and e:penses incurred!
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