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HomeMy WebLinkAbout0366 ai•count to ~~y sui•h i•hurK.w whrn due shaU lie ~xud tw lllurtgagur to At~~rtg:~g~~c~ un demand. If, by n~~ of uny d~•luull by Atortg~gor under uoy provisiun ot thia Mortguge, MartRagee dM•It~res all sums etie~vrnd henby to I~e due und ~u~yablr, Mortgugar ou~y then npply ~~~y fw~ds ~n s+~id .~ccount ugainst the entir+~ indebtedn~•r:~ ~vuntil hereby. 7'he ~ntorceability ot the coveniints rrlnting to tates, aeaeasments ~nd inaur~ince premiuma herein otherwise provide~i ahull not he attected except inso(ar as thosr obligntions he~ve heen met by ~rom~ili:~n~~e with lhiH ~uimR~ph. Mortgagee rru+y trom time to time .~t ita option waive, :~~d n(ter aoy such w~~i~•er MIIl9fillP, AOy or .d) provisions hereot reyuiring such de~wsite, by noti~r !o MurtKagor in writing. While nny surh wai~~er in e!(ect, \torigi~gor shnll {wy tn:es, nsex~gmenta nnd insurance prnmiuma as herein elaewhere pro~•ided. 4. To promptly {wy aU lnxex and :~sse~mcnts :~x~esxtKl ur tevied ur?der :~nd 1?y virtue o( any state, iedenil, ur muniei~x~l law ot rrgulation hereufle~ passed, againat Mortgugee u{~n thia Mortguge or the debt hereby xecured, or u{wn ite interesl under thia MortgHge, provided huvvever, that the totul nmount ao ~~aid tor any such tuxea pursuant to thia {wruKraph togeth- er with the intetest ~x~y~?ble on suid indet?tedness xtwll not exceed the highest lawful rnte ot interest in Floridu i~nd provided further that in the event ot the E~ssaKe ot Any such law or regul~itiun imposing n la: or arzsesament aguinat MortR»gee up- un this MortKage or ihe debt xe~•urc•c! hrmb}•, that the entirn indrl~t~~m•~ u~•urc~ hy this ~1lortgt~Re shall ihereu~?on 1?c~- ~ ~Y~me immediately due i~nd pay~ble a~t the option o( MortgaRee. 5. To keep the Morlgagcd Properly insured ugainst loxa or damage by tire, and all perila insured :~gainst by an ex- tendt~ co~•er.~ge endorsement, and such other risks and ~~erils :is Mortg.igee in its discretion mt+y require. The ~wlicy or {~olic•ies ot such insurance ahnll be in the form in Renernl use from time to time in the localily in whic•h the Mortgnged Yrvperty is situatecf, ahall be in such ~~mount us 1~lortgvKee mny reuxonably mquirn, shall t~e issuecf hy a com{H?ny or comvanies uppro~~ed by Mortgagee, and shall contuin a standurd martg:~Ree clause with loss ~wyable to 11lortgagee. When- ever required by Mortg:~gee, such policiea, ahall be delivered immedi~+tely lo and held by Mortgagee. Any and ~11 amounts recei~~ed by Mortgiigee under uny of auch policiea muy I~e applied hy Mortgagee on the indebtedness secund herelry in such manner .is Atortgagee m~iy, in its sole diacretion, elect or, s~t the option of Mortgngee, the entire amuunt so r~cK~eived or any {k~rt thereot may he releaseYi. Neither tt~e application nor the mlease of any such umounts sh.ill cure or waive any det.~ult. ~ lipon exemise of the pow~er of sale gi~•en in this Morlgage or other acquisition ot the Alortg~gecl Pm~~erly or ciny ~~:+rt there- ot by Mortgagee, such policies shnll. berome thr :~I~solute pmperly ot 111ortg+~gee. ~ 6. To firat obtai~ !he written cc~nsent o[ l~tortg.igee, such i•onsent to lie KrantE~l or withheld at the sole discretion ot 1~lortgngee, before (a) removing or demulishing :iny huilding now or hem.+fter erc~•teci un !he pnmisex, (b) altering the arrangement, deaign or structural charactcr fhereof, (c) making any re~k~irs which im•oh•e the removal o( atructural ~k~rts or the exNosurn ot ihe interior ot such building to the elements, (d) cutting or removing or ~~ermittinR the cutting aind re- moval ot any trees or timber on the MortRnQed Pro~~erty, (e) removinR or ezchanginR ~ny tanRible personal pro~rty which is ~~art ot the 111origaged Pro~~erly, or enterinq into or modifyinR any le.~se~ o( the IltortgaRecl Yro~~erty. To maintain the Mortgaged Pro~~eriy in good condilion and re~~.~ir, including hut not limited to the makinR ot suc~h re~klirs as Mortgagee m~y from time to lime determine to 6e necvr,_w~ry for the presen-ation of the AtortgaRed Property ~nd i ~ to not commit ot permit any v?•aste themof. - 8. To cumply with all lav?~s, ordinan~~, regulxtions, covenants, ~•onditions and restrii•tions aftec•ting the A1ortgaRed Property, and not to su((er or E~ermit any violatiun lheteof. 9. If Mortgagor fails to any claim, lien or encumbra~ce which is su~?rrior to this MortRaRe, or when due, :~ny tax ~ or assessment or insuramr premium, ur to keep the 111ottgaged Property in mpair, or shall ~~mmit or ~~etmit wasle, or i( there be commenced any action or proceeding atfecting the Morigaged Pmperly or the title thereto, or the interest of liortgagee therein, including, but not limited to, eminent domain and b~nkruptcy or reorganization proceedings, then MortgaRee, at its option, may {k~y said cla~im, lien, encumbrance, tax, assessmenl or premium, with right of subrogution thereunder, may make such repairs .ind take such ste{~s as it deems ad~~ia~hle to prevent or cure such waste, and m~y ~p~~ear in any such action or proceeciinR and retnin counsel therein, and ts?ke such artion therein :is MottgaRee deems ad- visable, and for any o( such pur{wses MortR.~gee may ad~~ance such sums of money, including all ~rosts, reasonable attorney's 3 fees and other items of expense as it deems necesa:~ry. MortgaRee shall be the sole judge ot the. legality, vAlidity and priority ~ ot any such claim, lien, encumbran~•e, tax, aagessment and premium Hnd of the ~mount necessary to be ~~aid in satisfaction thereof. Mortgagee ~hall not he held ace-ountable foc any delay in makinR any such payment, which delay m~y result in <~ny additional interrxt, costs, ch:~r~es, e:~~en.ses or olherwise. F 10_ 1~'lortgagor will {uiy tu hlorlqagee, immediately and without demand. :~lt sums o( money-advanced by AiortgaRer j to pmtect the secvrity hereof pursuant to this Tlortgage, including all costs, reasonable attorney's (ees and other items of ; expenrze, together with interest on each such ad~~ancement at the highest law(ul rate o( interest ~~ec annum in the State of ~ }~'lorida, :~nd all such sumc :ind interesf thereon sh:ill I~e se~•ured hemhy. i = 11. All sums of money ~.vmd hFreby shall I~r payable without any mlie( w6ate~•er trom uny valuation or appraiwe- ~ me~nt l:is~s. ~ ~ 12. If drlault F?e made in ~~ayment of :iny instalment of prini•i~~.~l or interest of the Note or any part thereof when ~ due, or in payment, when due, or any other sum securc~l herehy, or in performance ot any of Mortgagor's obligations, c~oven- ~ :~nt; or aKreements hereunder, all of thr indebtedn~~ss se~vred hereby shall I~ec•ome and he immediately due and ~uiyable at the option ~f Mortgagee, without noti~•e nr demand whic•h :~re hereby expressly waived, in which event Mortgagee may arail itself ~ of all riQhts and remc~ies, at law or in equity, and this MoriRage may be foreclosed with all rig6te and remedies at[orded by _ ~ the laws of Floridn .~nd 111ortRaQor shall ~~y .~ll costs, charRes :~nd e:penses thereof, in4luding a reasonable attorney's tee, ? ~nc~luding all such costs, ex~~ensew and attorney's (eec (or .~ny retrial, rehearing or ap{~eala. The indebtedner.a secured hereby i ~ shall bear interest at the highest lawtul rate o( interest ~~er annum in the State of Florida trom ~nd atter lhe date of any _ # su~~h de(ault of Alortgagor. If the Note pro~•ides (or instalment payments, the MortRaqee may, at its option, collect a late ~ ~•h:~r~;e not to ex~-eed two ~~enls (or each one dollar not paid to the T1ort~a~~r H~hen due, to mimburse the MortRaRee for ~ ex{~enses in collectinR and servicin~; such instalment p~yments. ~ 13. If de[ault be made in payment, r~~hen due, of any indPhtednc:cs sc~cured hereby, or in ~~erformancp of any of ~ AlortgaRor's obligalions, co~•enants or .iRreement hereunder: f (al MortgaRee is authorized at any time, without noti~•e, in its sole discretion to enter u{wn and take {~sessiun of the 111ortRaRed Pro~~erty or any ~r?tt thereo(, to E~er(orm any acts MortgaRee deems necessary or proi~er to ~•onsen~e the ~ security and to colle~•t and rn~~eive alf rentg, issues and protits therno(, in~•luding those past due as well as those acrruinQ ~ therPafter: and ~ ~ (b) MortgaRee shall f~e entitled, as matter nf strict righf, without notice and ex~hirte, and without regard lo the value or occupancy ot the ~vrity, or the solven~•y o( 111orfgaqor, or the adrquncy of the MoHgaged Pro~~erly as security (or the Note, to have a receiver ap~~ointed to enter u{wn and take ~ws.gession .of the Mortgaged Property, collect the renta and proiiLg theretrom and apply the s.~me as the rnurf may dirert, rwch receiver to ha~•e all the riRhts and pok•er;~ permitted ~ under the (awa of Florida. ~ In either such case, Mortgagee or !he receiver m:+y also take ~wssession of, and for these pur~ses use, any and all ~ i~ersonal property which is a part of the MortgaRecl Property and used by Mortgagor in the rental or leasing thereot or any part thereot. The expense (inrluding recei~~er's fees, counael fees, costs and agent's compensation) incurred pursuant ; ~3 1~ the povvere herein contained shall be eecured hereby. Mortgagee ahall lafter payment of aU costa and e:penses incurredl ~ _ - ~ -2- f 4 . . 1n~ v; - .._<285 3~ I,~l 4 . ~ ~ • A • . , ~ • . _ • ~ , • !