The URL can be used to link to this page

Home My WebLink About0696 urcuunt !o ~uiy r~u~•h churges whrn due ah:~U I~r ~k~id [?y I~1ort~ugor lo I1lurtgager un demund. If, hy n~:~sun ot any deluuit by !Wortgagor unde~ any pro~~ision of this 111ortguge, 111o~tgug~~r d~~•lr~rea i~ll suma aecurcd hemby to I~e due und {u~yvble, ~~~rtK~~K~ ~~~Y ~hen apply nny tunda in suid ucc~unt t~guinat the entire indebtrcloeau xe~~ured hemby.'I'he en(or~•rub~lity of the covenants mlt?ting to t.~:ea, uasexsmenla and insurancti premiums herein otherwire provided shnll not he uttea•ted except inso(ar aa those obligationa have l~een met by complian~~e with this {wn~graph. 11lortRNeee muy from time to time +~t ils option waive, and ufte~ aoy auch wniver reinat.~te, any or all ptovisions hereo( requirinR such depoeita, by notice to Morigugor in writing. While any such wuivvr is in et(ect, Alortgugor ahull {xry ti~:ea, nasess~nenta and insuran~~e prem~~ums us herein elsewhet+e provickd. 4. To pmniptly puy ull taxes and u~uxsments ue~~K) or Ipvied under and hy virlue ot uny atute, tcder~~l, o~ municiEu+l taw or re~tutatio~ herea(ter Eu?~ed, ugai~t Alortgugee u~?un this MoHgage or the debt hereby secured, or u{wn ite intere,d under this Mortgxge, provided huwever, thut the totnl aniount so paid (o~ i~ny such tai:re purs+uaot to thia pan~graph logeth- er with the interest ~x?yuble on suid indebtednexs sludl nut exceed the higheat Inwtul rate ot interrst in Florida and provided turlher ttwt in the event ot the passuge o( any auch luw or rcyqulation imposing a ta: or assraament uguinat Morlgugee up- on thia Mortgi~ge or the debt aecured hemby, thut the entire~ indebtedness secured by thia 111uriR+~Ke xh:~ll thereu~~~n he- come immedintely due and ~wytib)e at the option o( Mortgagee. S. To keep the Mortgagrd Properiy insured :iguinst loas or damuge by fire, und all perils inaured t~gai~ist by an rx- Icndc~l cover.~ge endorsement, and such other riska sind ~~erilx s~a Mortgagee in ita discrotion may require. The {wlicy or ~wliciea ot such insurnnce shall be in the form in general use from time to time in the locality in v~hich the Morix.igc~1 Property is situatrd, shul) be i~ such .~mount as Morigug~r mi~y rea~sonably require, ahnll be issued by a com~k~ny or com{wnies approved hy Morigagee, and shall contAin a standard mortgagc•e clauRe ~•ith loss payable to MortRagee. VYhen- e~~rr required by Alortgngee, such policies, ahall be deli~•ered immedintely to and held by rlortg.+gee. Any nnd ull amounts rec~eived by 111origugee under any of suc6 policiea may be ~pplied by Mortgagee on lhe indebtedness~ seeund hereby in such manner as Mortgagee may, in its sole diacretion, elect or, al the optiun of Mortg~gee, the entire amounl so received or an~• Fk~rt thereof rnHy be released. Neither the applicalion nor the rnlease of nny such amounta shall rure or waive any de(ault. U~~on exercise ot the power ot sale gi~~en in this Mortgage or other acquisition of the Moriguged ProE~erly or nny ~~.~rt them- of by htoHgagee, such {wlicies ahaU Ixti~ome the absolute pro~~erty o( Mortgagee. 6. To tirst obtain the written consent of MortRagee, such consent to he Rrantrd or withheld a~t the sole d'escretion o( Mortqagee, heforn (a) mmoving or demolishing ~ny building now or hemt~iter ererled on the prnmises, Ib) altering the azrnngement, design or structural chars~ctet the~eoi, making nny rnpnirs which invol~•e the removal ot structural p:~rts or the exposure of the interior of such building to the elements, (d1 ~vttin~ or remo~~nK or permitting the cuttin~ s~nd re- mo~•al oi any trees or timt?er on the Mortgaged Pro~~erty, tel mmo~•ing or exchanging nny tnngible personal property which is Ek~rt of the Moriga~ged Property, or ;t) entering into or moditying nny le.ises of the MortQnRed Pro{~erly_ 7. To maintain the Mortgaiged Property in good condition and re~~ir, inc•luding but not limited to the m:~kinR of such reEuiirs ns Mortgagee may (rom time to time determine to be neces.4ary for the presen•ation o( the MortR:~ged Property and to not commit or ~iermit any waste thereof. 8. To comply with :III Ii~KS, ordinances, ffgUl7~lOIl3, ~ro~•enants, conditions and mstrictions attectinR the Mortgagecf Property, ~nd ~ot to suffer or permit ~ny ~•iolalion thereof_ 9. If Mortg~igor tails to {x~y any clnim, lien or encumhrance which is superior to this Mortgage, or when due, any tax or as.gessment or insurance premium, or to keep the Mortgaged Property in rep:~ir, or stwll ~rommit or permit waste, or i( there be commenced any action or proreeding affecting the ~lortgaged Property or the title thereto, or ihe interest of Mortgagee therein, including, but not limited lo, eminent domain :ind twnkruptcy or reorSaniu~tion proceedings, then hiortgagee, at its option, mny }~y snid claim, lien, enevmbrance, tax, as.ges9menl or premium, with right of snbrogation thereunder, may make such mpairs :~nd take such steps as it deems advisable to prevent or cure such waste, and may ap~~ear in any such action or proceeding and retain counwel Iherein, and t~ke such action therein sia Mortgagee deems ad- visable, iind for any o( such pur~wses Mortgagee may advance such sums of money, including all costs, re:isonable :~ttorney's j fees and other items ot ex~~ense as it deema nc~rsnary. Mortgagee shall be /he sole judge of the legality, validity and priority ' ot any such claim, lien, encumbrance, taY, assessment and premium and oi the amount necessary to be paid in satisfaMion ~ thereof. Mortgagee shull not be held accountable for any delay in making any such payment, which delay m:iy result in E any additional interest, costs, charges, expenses or otherwi.4e. E 10. 114ortgaRor vvill }k~y to 1Nort~cagee, immediately and without demand, .ill sums ot money .idvan~~ed by 111orlgagee ~ to protec•t the security hereof pursuunt to this Atortgage, including ~11 costs, reasonable altorney's fees and other itenu of S ex~~ense, together w•ith interest on each such advancement nt the highest lawful rate of interest per annum in the State of ` Florida, and all such sams and interest thereon shall t~ secured hereby. ~ 11. All sums o( money sec•urecf herel~y shall I~e ~~:iyable w•ithou! any relie( wbate~•er from any ~:iluation or appraise- ~ ~?ent laws. S ~ 12. It detault be m:ide in ~~ayment of any in.g4~lment o( princi~h~l or interest ot the Note or any ~~rt thereot when ~ due, or in ~~ayment, when due, or any other sum secured hereby, or in E~erformance o( any o( 141ortgagor's obligations, co~~en- ~ ants or agreements hemunder, all of the indebtedne.ss se~•ured herehy shall become and be immediately due and p:iyable at the ~ option of btortgagee, without notice or demand w•hich are hereby ezpressly wai~~ed, in a•hich event 111ortgagee m:~y a~•ail itsel( o( all rights and remedies, at law or in equity, and this tllortgage may he toreclosed wiW all rights snd remedies atforded by the laws of Florida and Mortqagor shall pay all costs, charges and eY~~et~ses thereot, including a reasonable attorney's tee. ~ including all such costs, expenses and attorney's (ees (or any retrial, rehearing or appeals. The indebtedness secured hernby shall hear interest at the highest lawful rate oi interest per annum in the State of Florida from and a(ter the date of any ~ such detault of Mortgagor. If the Note providea (or inatalment payments, the Mortgagee may, at its option, collect a late charge not to eYCeed two cents for each one dollar not paid to the AlortgaRee when due, to reimburse the ATortRagee for ~ ex~~ensc~s in c-ollectinq and servicinR such instalment ~~ayments. - ~ 13_ It default t?e made in ~uiyment, vehen due, of any indebtednesa secured hereby, or in pertormance of an~~ ot ti'lortRagor's obligations, rnvenants or aKreement hereunder: ~ ~ (a) MoHRaRee is authorized :~t any time, without notice, in its sole discretion to enter upon and take posr•ession o( - the 1~lortgaged Pm~~erty or any part thereof, to E~er(orm any acts MortgaQee deems necessary or proper to consen•e the ~ security and to collect nnd receive al) m~ts, issues ~nd profi~c thereof, includinR those past due as vvel) as those accruinR thereafter, and ; (b) MortgaRee shall F?e entiQed, as a matter ot strict right, without notice and exparte, and without regard to the vFilue or occupancy of the secvrity, or the solvency o( Mortgagor, or the adequacy of the Mortgaged Property as security for ~ the Note, to have a re~ri~~er appointed to enter upon nnd take pos.seasion ot the Mortgaged Pmperty, collect the renta and ~>m(ita theretrom and apply the same na the court may dirert, such receiver to ha~~e all the rights and pow•ers permitted under the lawa ot Florid~. si In either such case, Mortgagee or the receiver may also take pag.9esaion of, and for theae purposea use, any and all ~ ~~ersonat property which is a part of ihe Mortgaged Property and used by Mortgagor in the rental or leasing thereot or ~ any part thereof. The e:pense (including receivera fees, counsel (eee, costs and agent's compensation) incurred puisuant to the pow~ers hernin contained shall be eecured hereby. Mortgagee shall (atter payment ot all coste and ezpensea incurred) ~ ~ ~ -2- ~ Q ~ . g~; j~ ~p~. PAGE 695 ~ . ~ ~ 5 _ ..U . . _ - „ ..v._