HomeMy WebLinkAbout0558 :icruunt to ~k1Y SLCII cFu~rKra wh~•n du~ xhull IK~ p;~id by MurlKuKor to 111ortKak~v~ un dc•m:+~~d. lt. bp rc.~a+,n ui :~ny del.wlt
by lllortKuKur under uay pro~isiun o(_this 111ortKuge, \to~tgug~ti de.•la~res alt sums se~vmd herrby to I~e due and µ~y.~ble.
11ortKagee nu~y then apply any funds in wiid a~•cou~~t againsl lhe entim indebtedncae ~-und hen by. The enlor.•rahility of
the coveru~nta reluting to luxes, asec~~ments and insuran~•e premiums herei~ othervvise pro~~ded ctwll not he LfleMed exc~ept
ineo(t~r va thoae obligations ha~•e t~~ met by complium~e with this {wmgniph. I?1orip,aKee may (rum time to time nt ita
option wuive, and n(ter nny such wi~iver reinaiute, any or +dl provisiana hereot requiring auch deposita, by notice to
MortguRo~ in writing. While any auch wui~•er is in et(ec•t..111ortgago~ shall {wy taxes, nssessments and insurance premiams
:~s herein eisewhere pro~•ided.
4. 1'o prompUy ps?y all taxi~ und usrk~:+smenis a~re~Kl ur levicd under and by virtue ot any state, tedrral, or muni~-i~+l
law o~ releulution herea(trr ~?uayed, aKair~l 111or1gagee u~wn this Mortgage or the debt herrby aecured, or upon its interrat
under thia 111ortguge, provided however, lhat It~e total :~muunt sso paid for uny sucl~ ta:rs pu~uant to this paraKraph togeth-
e•r w~ith the interest payable on aaid indehtednea~ sh:ill not eY.ti•ed the highenl I:+w(ul rate of ~nterest in Flonda and prov~ded
turther tlu~t in the event o( the p:u~~Ke ot any such l.~w or regulation im{wainR a tax or asee~sment a~Ca~nat l~toriKagee up-
un thia Morlgaqe or the del?t yeeured hereby, that the entire indebtednc~s s~r•und bp thic ,tortRaRe shaU thereu~wn be-
come immediately due nnd ~u~yaAle al the option o[ Mortg.~g~e.
S. To keep lhe Mortgaged Property insured aguinst I~ss or damuge by fire, and all pe~b inaumd a8ainst bY an ex-
tended cover.~ge endorsement, and such ott~er risks und {>erils as Alortgaigee in its discretion m:ey require. The policy or
Ex~liriea o( such insurnnce shall be in the (orm in Renernl use from time to time in the lor,,lity in which the \tortg.?ged
Yroperty is situated, shs+ll be in such :~muunt a4g I~1ortRagee m:+y reason:+bly require, shall be essu~d by a i-ompnny or
com{~nies a{~proved by Mortgager, and shaU contain u standard mortgagee clause w•ith loss µ+}~able to 111ortgagce. ~'hen-
e~•er required by 1lfortg.+gee, such Fwlicies, shi?11 be delivered immedialely to and held by \~ortgagee. Any and aU xmounGs
receieed by :~fortgagee under any of such policies may be i~pplied by MortAaKee un the indeMcdness scti-ured hereby in such
manner as Mortgagee nti~y, in its sole discretion, elect or, at the option o( rlortg~gee, lhe entim amount so received or any
~~art thereot may be mleased. Neither the application nor the release of any sach amounta shall curr or wai~•e any detault.
Upon exerc•iae of the power of sale given in this 111orlg~ge or other acquisition o( the '~forlRaged Pro~~erty or any E?art them-
ot by 111ortgagee, such {?oliciea shall become the aheolute pro~~erty ot ~1ortRaRee.
6. To first obtnin the writlen consent of Mortgagee, such rnnsPnt to !?e Rranted or withheld .+t the sole disa-retion o(
MortRaRee, betore (A) removing or demolishinR any buitding now or herea(ter erected on the premises, fb1 alterinR the
arrangement, design or structural character thereof, (c) making any repairs which involve the remo~al of structural p:irts
or the esposure of the interior ot such building lo the elements, (d) cutting or rerieo~~ng or permittinR the cutting and m-
mo~•al o( any treea or timber on the MortRaged Pm~~erty, (e) removing or e=chanRinR any tan~Me personal property wh~ch
is part of the Morlg:~ged Property, or (Il entering into or m~cfi(~ing any le;ises o( the Mort~aRed Properiy.
7. To maintain the MortRa~ed Pro~~er~y in good condition and re{~air, including but not limited to the m:skinR ot such
reµairs as Mortgugee may trom time to time determin~ to he ncr~ess:~ry tor the presenation ot the ~fortgaRed Pro~~rty and
to not cornmit or {~ermit any waste thereof_
8_ To comply with al) laws, ordinances, regul:~tions, covenants, .•ond~tior?s and r~strictions a((ecting the \tortRaRed
Property, and not to su(ter or permil any ~•iolalion themof.
9_ If Alortgagor t3ils to ~wy :~n~ claim, lien or encumbrance v?hich is superior to th~s 1Nort~age. or when due, an~ tux
or ussessment or inKUramr pmmium, or to keep the Mortgaged Property in repair, or slwll commit or permit ~+•aste, or it
there be commenced any action or proceeding a(fectinR the Mortgaged Property or the title thereto, or the interest of
Mortgagee themin, including, but not limited to, eminent dotnain and b:inkruptcy or reorKanization proceedings, then
Atortgagee, at its option, may pay a-+id claim, lien, enc•umbrance, ta:, assessment or premium, witb ri6ht o( subrogation
thereunder, may make such mp:~irs and take such ste{~s :?s it deems ad~~isable to prevent or cvrP such v?aste, and may
appear in uny ~uch a~-aiu~~ ur ~.r+xeeding and retain counsel ttserein, and take such action therein aa ~tortga~ee deems ad-
visable, and tor any o( such purp~ses MortRaRee m:iy adv~ince such sums of money, includin6 all roais. rea~onable attornec's
fees and other items ot ez~?ense a.4 it deems nec•ese:~ry. Mortgagcr shall be the sole judge ot the legalitv, ~alidity and pcioritc
ot any suc6 claim, lien, encumbrance_ ta:, as.gessment ancl premium and of the amount necessary to be paid in satistaction
, thereot_ Morlgagee shall not be held accountable for any delay in makinR an~ such payment. which delay ma~ result in
j any additional interest, ~~usts, charRes, expenses or otherwise.
10. Mortg~B~~ will pay to Mort~agee, immrdiateh• and witnout demand, al) sums o( morsey ad~~anced hy ~torigager
~ to protect the security hereof pursuant to this :~lortgage, including all c~osts, reasonable attorney~s (ees and other items ot
E expense, together w•ith interest on each such ~id~~ancement at the highest lawiul rate of interest {~er annum in the State of
~ Florida, and nll such sums and interest thercy~n sh.~ll be scr•ured hereby.
~ 11. All sums of money ~•ured h~~reby shall Ix~ {~:iyable withoW .~n~ reliet whate~~er (rom an~• ~aluation or :~ppnise-
~ ment law•s.
r 12. If de(ault t~e made in ~u~yment of :+ny instalment o[ prini•ii~.~l or interest o( the \ote or any prart thereof ~~hen
due. or in payment, when due, or any other sum secured hereby, or in performance ot an~ ot ~tort~[abor's obliKations. coven-
.~nts or aQreements hereunder, al) of the indehtcYlnE~.g sec•urec! herebp shall hecome arx~ be imm~iately due and payable at the
option of btortgagee, w•ithout notice or dem:ind whi~•h are hereby expressly waived, in vrhich e~~ent Mortga~ee may a~ail itself
of all rights and remedics, at law or in eyuity. .ind this l~lortRaRe ma~ 1~e (orec'lo9et! v?iih all Tights and remedies af(orded by .
the l~ws of Florida and ~lortgagor yhaU pay ali costs, char~;es and e:~~enses thereof, includin~ a masoneble athrrney~a fee,
including all such costs, e:penses and attorney's lees !ot any retrial, rehearing or appeals. The indeMednc~ aei.'~red herebY
shall bear interest at the highest lawtui rate of interest {x~r annum in the State of Florida from and atter the date of any
~ such default of MorEgagor. It the Note provides for instalment pa}•ments, the btortR:+Kee ma~. :it its option, collect a late }
charRe not to exceed two cents (or each one dollar not paid to the ~1ort~aKee ~+hen due. to mimtwrse the ~tortRaRee (or i
ex~~enses in rollectin~C and servicinR such instalment payments.
13. It de(ault t~e made in payment, when due, ot any indebtedness secvred herebr-. or in periormanre o( any of
~ \tortR.+gor's obliRations, covenants or aKreement hereunder.
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la) MortRagee is authorizecl at any time, w•ithout noti~•e, in its sule discretion to enter upon and take ~~session o(
~ the :~tortgaqed Pro{~erfy or any part thereof, to pertorm any acts Alorigagee deems neces.gary or propet to consen•e the
~ security and to collect and recei~•e all rents, issues :ind profils thereo(, including tho,e past due as V?el1 v those aecroing
thereatter: and
a
Ib1 Mortgagee shall I~e entitled, :is a m~tter o( stri~•t right, withoUt notice and ezparte. and v~-ithout reg~rd to the
~ ~alue or occupancy of the serurity, or lhe sol~~enry o! Mortgagor; or the adequacy of t6e Mortgaged Property as setvrity (or
~ the 1~iote, to h~~•e a recei~'er appointed to enter upon and take {wssession of ~he l~~ortgaged Property, collect the rents and
,'r~ pmfits therefmm and apply the same as the court may direc•t, such recei~•er to ha~~e all the righta and powers permitted
=4 under the laws of Florida.
~ In either such case. MortRagee or the receiver may also lake (~ossetxaion of, and tor ihese purpc?ses. use. any and all
~ ~ier~nal property which is a ~~art ot the Mortg~ged Properiy and used by Mortgagor in the rental or leaaing thereot or
any ~~art thereot. The ex~iense (including recei~~er's fees. counsel (eea, costa and agent's compensation? incurred pursuant
~ lo the powers herein contained shell be secured hereby. Mort~aqee ahall lafter payment of all costs and e:pen4es incurred 1
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