The URL can be used to link to this page

Home My WebLink About0598 . . uccuunt to ~wy such charges whrn due shu11 I~e ~xiid by I~lortgagor to Murtgugee on demund. It, by rri~xun of any de(uult by Mo~igagor under any provuian ot lhia Mortga~ce, MOr(~p~QB (~CfIATC6 NII sumr secured hereby to be due and paynble, Mortgagee inay then apply any tunds in said acrount ugxinat the entire indebted~eas securecl hereby. The en(on~eability of the rnvenanta relatina to tnxw, asseasmenb and inaurwncr premiumr herein otherwise provided ahall not be attected except insatar as those obligations ha~•e bee~ met by compliance wilh this paregraph. MoHgagee may trom time to time at ita option wai~^~, a~d a(ter any aucb wai~~er reinsu~te, any or pU provisions heceot ?equirinq such deposita, by notice to Mortgagor in wtiti~. While any sucb waiver is in e(tect. Mortgagor ahaU pay taxes, aaseas~nenfa and inaurance premiums as hernin elaewhere provi~kd. ' 4. To promptly pay all ta:es and aasessments aase~ed or levied under and !?y virtue ot uny stnte, tedernl, or muniripal law or regulation liereafter paased, ugainat Mortgagee upon thia Morlgage or the debt hereby secured. or upon its inlereat under thia Mortgage, provided however. that the total amouM so paid tor any such taxes pursuant to this parugraph togeth- er with the intereit payable oa aaid indebtedr?ea~ ahxll not exceed the higheat lawtul rate o( interest in Florida and provided furlher that in tbe event ot t6e paseage ot any such Inw or regulation imposing a tax or aseessment ngainat Morigugee up- . on lhis Mortgage or t6e debt se~ured hemby, that the entire indebtednesa secured by /his Morignge shaU thereu~w~ be- come immediately due and payable at the option ot Mortgs+gee. 5. To keep the Mortgaged Property insured against toas or damage by fire, and all perils inaured against by an e:- tended coverage e~?dorsement, and such other risks and pecila as Mortgagee in its discretion mxy require. The policy or policies ot such inauranoe shall be in the (orna in general use from time to time in the locality in which the Mortgaged Property is situuted, ahall be in auch amount aa Mortgsgee may rnasunably require, s~wll be issued by a company or companies approved by MoNgagee~ and shall contain a standaed morigagee clause with loss payable to Morlgagee. When- ever required by Mortgagee, suc6 {wliciea, shall be delivered immediately to and held by Mortgagee. Any and all amounts received by Mortgagee upder uny ot such policies may be applied by Mortgugee on the indebtedness eecured hereby in such manner as Mortgagee may, in its sole discretion, elect or, at tbe option of biortgagee, the entire amount ao received or any • pnrt thereo[ may be ce{eased. Neither the application nor the releaae 4[ any such amounts shall cure or waive any defautt. L1pon exercise of the power of sale given in this Mortgage br other acquisition ot ihe MoHgaged Property or any parl there- of by 1`tortg~gee, wch policiea ahall become the abeolute property ot I1lortgagee. 6_ To firat obtain the written conaent of Mortgagee, such consent to t~e granted or withheld at the sole discretion ot Dlortgagee; betora (a) removing or demolishing any building now or, hereatter erected on the prnmises, (b) altering the arrangement, design or atructural characler thereof, (c) making nny repairs which involve lhe removal ot structural parts or the ezposure of the interior ot such building to the elements, (d) cutting or removing or permitting the cutting and re- moval of any treea or timber on the l~tortgaged Property, (e1 removing or exrh:~nging any tangible personal property_which ia part of the Mo~tgaged Property, or (f) entering into or modifying any leases of the Mortgaged Property. 7_ To maintain the Mortgnged Property in good condiUon and repair, including but not limited to the making of such ~ repairs :~s htottgagee may from time to time detertnine to he necessary tor the preservation of the Mortgaged Property and to not commit or permit any waste thereot. - 8_ To comply with all Iavvs, otdinances, regulations, covenants, conditions and restrictions atfecting the I~tortgaged Property, aad not to su[ter or permit any violation thereof. - 9. If Mortgagor fails to p:iy any claim, lien or encumbr:~nce which is superior to this Mortgage, or when due, any taz or assesament or insurance premium, or to keep the tltortgaged Property in repair, or shail commit or permil waste, or it there be commenced any action or proceeding atfecting the Mortgaged Property or the title thereto, or the interest of Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, lhen Mortgagee, at its option, may pay said claim, lien, encumtsrance, tax, assessment or pmmium, with right of subrogation thereunder, may enake wch rnpairs and take such steps :is it deems advisable to preven! or curn such waste, and may appear in any suc6 action or proceeding and retain counsei tfierein, and take such action therein as Mortgagee deems ad- visable, and for any o[ suc6 purposea Mortgagee may advance such sums of money, including all coets, reasonabte attorney's teea and other items ot e:petie as it deema neces~ary. Mortgagee shall be the sole judge ot the legality, validity and priority of any such claim, lien, encumbrance, tax, nss~sment and premium and of the amount neceasary to be paid in satisiaction thereoL Mortgagee shall not be held acrountable tor any delay in making any surh payment, which~ delay may result in any additional interest, costa, c6argea, e:pensea or otherwise_ ~ 10_ Mort a or will gagee, imm ~ately and without demand, all sums of money advanced by Mortgagee g g pay to l~tort ~ to proteet the security hereof pursuant to this ll ortgage, including all costs, rnasonable attorney's (ees and other items of ~ ezpense, together v~ith interest on each such advancement at the highest lawful rate of inteirst {~er annum in the State of Florida, ~nd all such sums and interest thereon shall be• secured hereby. 11. All sums o( money secured hereby shall be payable without any relie( whatever trom any ~•alu:?tion or ~ppnise- ment lawa. - 12. It default t~e made in ~wyment of any instalment of principal or interest o( the Note or any j~ari thereof when due, or in payment, when due, or any other sum secured hereby, or in performance of any ot 111ortgagor'a obligations, coven- ants or agreements hemunder, ail of the indebtedness secured hereby shall become and be iromediately due and payable at the option of Mortgagee, without notice or demand which are hereby expressly waived, in which evenf Mortgagee may avail itself of ali righta and remedies, at taw or in equity, and this Mort~age may be toreclosed with all righta and remedies aftorded by the lawa ot Florida :~nd Mortgagor shall pay all costs, charges and expenses thereof, including a reasonable attorney e tee, including all such costs, e:penses and attorney's fees tor any retrial, rehearina or appeals. The indebtedneas secur+ed hernby shall bear intereat at the highest law(ul rate of interest per annum in the State of Florida from and after the date ot an3 surt~ default of 1liortgagor. It the Note provides tor inst~+lmeat payments, the Morigagee may, at its option, collect a late charge not to e:ceed two cents for each one dollar not ~~id to the MortgaRee when due, to rnimburse the Mortgagee tor expenses in collecting and ser~i.•inR such instalment payments. 13. If default be made in payment, when due, ot any indebtednesa secured hereby, or in pertormance of any o[ ~ Mortgagor e obligations, covenants or agreement hereunder. ~ (a) Mortgagee is authorized at any time, v?ithout notice, in its sole discretion to enter upon and take possession of ~ the Mortgaged Property or any part thereof, to ~~etform nny acts Mortgagee deems neceseary or proper to conseree the security and to collect and receive all rents, issues and pro(its thereo(, including those past due as well as those acrruing ~ thereatter: and { (b) Mortgagee shall tee entitled, as a matter ot strict right, without notice and e:parte, And without regard to the ~ value or accupancy of the secvrity, or the solvency o( I?iortgagor, or the adequacy of the Mortgaged Property as security tor 3 ~r the Note, to have a receiver appointed to enter upon and take pos9easion o( the Mortgaged Property, collect the renta and ~ ~ profits thernfrom and apply the same aa the court may dirnet, such receiver to have all the rights and powers permitted under the lawa of Florida. . ~ In either such ca8e, blortgagee or the receiver may also take possession of, and (or lhese purposes use, any and all personal property which is a part o( the Mortgaged Pmperty and used by Mortgagor in the rental or leasing thereo( or ; any part thereof. The e:pense (including receiver e tees, coar~el feea, coata and agent's compensation) incurred pursuant s ~ to the pov~e~s herein contained eha11 be secured hereby. ;4lortgagee shall (atter payment of al) coate and e:penses incurred) : ~ OR Un n ; - -2' BQ~K20J DAGE SJ~T ~ ~ . ~ . ~ ;r; . _ _ ~ - -r- ~