HomeMy WebLinkAbout0435 :icrount tu ~?:~y such ~~hargra K•hen Jue ahaU tx• paid by Murtgaxor l0 111orIg:~K~~• un ~i.~~»:~~~~i. ir, hy n.+xun ut :~ny d~•Lwll
by Alortgf~~tor under :i~y provision ot this Mortgage, rlortgugee declurea ail) suma xec•umd hernby to i~e dur and ~x~ya~hle,
MorlRagee nu~y then apply nny funda in saud n~~•ouM :~ga~inxt ihe entire indeM~vinc~x a~•umd herrhy. The entorre:it,ility ut
the covetu?nts crli~tinR to ti~Ytti, axse>saments nnd inaur~ncr premiuma herein othenviae provided s}wll not be aI(ected except
insotar nx thoac+ obligationa have heeo met by compliani~e with this Ew?sigruph. 11lortBnKee may frum time to time a~t ita
optio~ waive, and utter any auch waiver reinslate, nny or ull proviaiuna hereo[ requiring such de~waita, by notice to
Murtg:qcor in wnting. While any such waiver ia in e((ect, 1~1oHg+~qor ahall ~x~y u+:ea +~esesaments and inaurAm-e premiums
as hemi~ elaewhere provided.
4. To prumpUy pay ull tuxea und usce~~xme~ta i?ssc:w;cKl or levied undcr ~~nd by virtue oI any atute, tcvlenil, or municipai
laa~ or regulntion hereafter ~x~xsed, ugainst Murtgi~gee u~~n this I1lorigage or the debt hereby secumd, or u{wn its interest
under this 11~lortguge, provided however, that the total ~mount so ~x~id for any auch tuxea {?urs~wnt to thia p:uugruph togPth-
er Nith the inter~xt {x~yable on eiaid indebtedn~s slwll nol eY~red the higheat lawful mle ot intereal in Floridu and providcd
furlher thal in tl~e e~•cnt of lhe {ws~fge of uny such li+w or regulutiun im~w.ving a tux or asses:unent aguinst 1~iortgugre up-
un Ihis Mortguge or the debt secund hereby, that ihp entire indehtedm~s.g u~•umci by this A4orIK:iKe shall thereu~x~n 1?e-
come immediately due and ~myable At the option ot Morigngee.
5. To keep the Mortgaged Property inauted ag~?inat loss or d~image by [ire, and all perilx inaured ugainst hy an ex- ~
tended co~~er<ige endorsement, and such other risks and E~erila :~s I~lortgagee in its discretion muy requim. The ~~olicy or
{wlicies of wch insurnnce ahall be in the form in general use from time to limr in the locality in which the Mortgt~ged
Yroperty is sittwted, shull" be in such t~muunt us Alortgagee m.iy reasunubly require, shall t~e issued by comp.~ny or
companies approved by Mortg~~gee, and shall contain a atandard mortgagre clause w•ith loss payUble to Morigagee. R'hen-
ever required by Atortgagee, such poliriea, shal! be delivered immed'uriely to and held by Mortgagee. Any and ~11 amoun~4
n~-eived by Mortgagee under any ot such policies muy be applied by Mortgagee on the indebtedness securrd hereby in such
r.:ar. :~r as ::~~:3gaiFL°E :nay, ia i:s sale desrariioa, elect or, st !he optioa of Mo?lga~c~e, the pntire nmrn~nt ~+n rr~-eived or any
~~art thereof mny he releaaed. Neither the applicution nor the release ot any such s~mounls shall cure or waive any detault.
tlpon e:ercise of the pow~er ot sule gi~~en in this Mortgage or other ncquisition of the MortK:~Bed Pro{?erty or uny part there-
o( by Mortgagee, such policies ahull t?ecome the nha~olute property of Mortgagee.
6. To first obtain the written consent ot Alortgagee, such consent b be Rr.inted or w•ithheld :~t the solP discretion u(
i~lortgagee, 1~efore (n) remo~ing or demolishing :~ny building now or hereiitter erccted an the premisrs, Ib) altering the
arrangement, design or structural character thereof, (c) making any m~k~irs which im•ol~~e the removal of structural purts
or the exposure o[ the interior of such building to the elements. (d) cutting or remo~•ing or permittinR the cutting and m-
moval ot any trnes or timber on the MortRt?ged Property, le) removing or exchanging t~ny tangible personal property which
is ~?:irt ot the Aiortgageci Property, or entering into or modifying any leases of lhe MortR.igecf Yroperty.
7. To maintain the Mortgs~ged Properly in Rood condition and re~~air, inc•luding but not limited to the makinR of such
re~k~ir4 as Mortgagee may trom time to time determine to t?e neres~lry tor the presen•ation o( the MortRaged Pmperty nnd
to not commit or Nermit any waste ihereot.
8_ To comply with all laws, ordinances, regulations, co~•enantb, ~•onditions and restrictions attecling the MorlRagecl
Pmperty, and not to sutfer or ~~ermit any violation thereot.
9_ It Mortgagor (aiis to p:iy uny claim, lien or encumbrance which is su~~erior to ihis I~lortgaQe, or ~vhen due, am• tax
or assessment or insuranre premium, or to keep the 141ortgaged Propert> in re{~air, or shall commit or ~~ermit wxste, or i(
there be commenced :~ny aciion or proceeding a(fecting the Mortguged Property or the title themto, or the interest of
Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganiz3tion proceedings, then
Mortgagee, at its option, m:,y ~My said claim, lien, encumhrance, tax, as,sessment or premium, with right of subrogation
thereunder, may make such reEk~ira and take such ste~~s as it deems advisable to prevent or cum surh w~aste, and may
ap{?ear in any such action or proceedinK and retain counsel tfierein, and take such action therein as hlortgaRee deems ad•
visable, and for any ot such purposes Mortgagee may advance such sums ot money, including ali costs, reasonable attorney'a _
fees and olher items ot expense as it deems necess:iry. Mortgagee shaq be the sole judge ot the legality, ~alidity and priority ~
of any such claim, lien, encumbran~r, ts~s, dsgessment and premium and of the amount neressary to be paid in satisfaction. .
thereof_ Mortgagee shall not be held accountable for any delay in making any suc6 payment, which delay may rebult in
any additional interest, costs, charges, eY~~enses or otherwise.
10_ ll~ortgagor w•ill pay to MortRagee, immediately and without demand, all sums of money ad~~anced by Mortgagre
to protect the security hereof pursuanf to this Alortgage, including all costs, reasonable attorney's fees and other ilems of
expense, together with interest on each cuch advancement at the highest law~ful rate of interest ~~er annum in the State ot
Florida, and all such sums :~nd interest themon shall lie se~•ured hereby.
il. All sums u( money secured herc:hp shall {~e ~k~yablP without am• mlie( whate~~er from :~ny ~~aluation or appr.~i~-
nient laws.
1'l. If defuult t~e made in ~~ymenl ot an~~ insfalsnent ut princiEk~l or interest oi the Note or any part thereof when
due, or in payment, when due, or any other sum secured hereby, or in ~~erformance o( any of Mortgagor's obfigations, co~~en-
:~nts or :igreements hereunder, all o( the indebtedness seivred hereby shall i~ecome and be immediately due and payable at the
option o[ l~iortg~~gee, without notice or demand which are hernby expressly waived, in which event Mortaagee may a~•ail itsel(
of all righta and remeclies, at lav~ or in equity, and this A4ortRage may be foreclosed with-all rights and remedies a[torded by
the I~N•s ot Florida and Mortgagor shall pay all costs, charges and expenses thereof, including a reasonable attorney's fee. '
includir.~ a!! s~!nc ~osts, e:penses ar.~ aLt~rney's (ees (or any retrial, mhearing ~r appeals. The indebtedness secured hereby
shall bear interest at the highest law(ul nte af interest per .~nnum in the State ot Florida from and after the dete of any
such def~ult of ~lortgagor. If the Note provides (or instalment ~u~yments, the 114ortgagee may, at its option, collect a late
charRe not to ezc•eeci two cents tor ea~•h one ~follar not paid t~ the MoriQaRee when due, to reimburse the 111nrf~agee tor
expenses in ~•ollectinq and servicing su~•h in~talment payments .
13. If de(ault I~e made in paytnent, when due, of any indebtedness secured hereby, or in per(ormance of any of
~iortgagor's obligations, coven.ints or aRreement hereunder
la) MortgaRee is anthorized at any time, without notice, in its sole discretion to enfer upon and take ~w.~session of
the MortgaRed Property or any part thereot, to ~~ertorm any acts l~lort~a~ee deems necessary or proper to ~onsen•e the
security and to collect and recei~~e all rents, issues and pro(i~s thereo(, inciudin~ those past due as well as those acrruinR
thereatter: and
Ib) Mortgaqee s6all F?e entitled, as a matter of strict right, without notice and exparte, and without regnrd to the
value or occvpancy ot the sec'urity, or the sol~~ency of A1oHgagor, or the adequacy of the Atortgaged Property as security for
the Note, to have a recei~er ~ppointed to enter upon and take posses.gion of the hiortgaged Property, collect the rents and
pmfits there(mm and apply the same as the court may direct, such receiver to ha~~e all the riRhts and powers permittecl
under the laws of Florida.
In either such case, 11lortgagee or the receiver may :ilso take ~~o.gsesaion o(, and (or these purGwses use, any and all
persona) pmperty which L9 a part of the Mortgaged Pro~~rty and used by Mortgagor in the rental or leasing thereof or
any part thereo(. The expense fincluding receiver'a fe~s, counsel feea, costa and agent's compensalion) incurred pursuant
to the povvern herein contained shall be secured hereby. Mortgagee shall (after payment of all costs and ezpenses incurreci)
s~oK~81 P~G~ ~ 434
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