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HomeMy WebLinkAbout0108 - a~roun! to pey such charge~ when due ahall be paid by MortQaqoe to Mottgagee on derrat~d. If, ~y r'esion of any detuult by MortsaRor unde~ any peoviaion ot t6ie Mortg~e, Morigagee declares nll sums eecured heceby to be due and payable, Mortgasee m~y then apply asy tuncL in said account againtt the entire indebtedneas ~ecured hereby. The entorceability o( the cove~ts raiatit~ to taxe~. a~seMmenb ar~d inwsance premiums herein otherwire provided shall not be aftected except iaw(ar a~ tl~ose oblisation~ have been met by compliancs with thia peresrapb. Mortgagee may tram time to time at ita aptioa waiva, and atter any such walver reinsfets, any or all provisions hereof reqnirins wch deposits, by notice to Mortgosor in wetins. While any wch waiver is ia etfect~ Mortgagor shall pay taxea, ane~wnenb and i~rance premiuau ns hereia el~swl~ere pmvided. . 4. To pmmptly pay aU taues and as~menta aaseseed or levied under and by virtue ot any state, federal, or municipal tuw or regulatioa hereafler paesed~ e~sin~t Mortga~ce upon this Mort~aae or the debt hareby ~ecured, or upon ib interest under thia Mortga,6e, provided lwwerer, that t6e total amouat ro paid [or any such ta:es pursuant to thi~ paragraph togeth- er with the intere~t payable on said indebtedne~s shall not ezceed the hiahest lawtul rete ot ialerest in Floricla and provided fuKher t6at in the event ot the pama~e of any wch law or resulation uaposina a ta: or as~sment against Mortgegee up- on this Mortgage or the debt secuc+ed hereby, that the entire indebtedneda secured~ by thia Mortgage ahall thereupon be- - come ia~mediately due and payable at the option ot Mortgagee. . 5. To keep the Mortaaaed Pmperty inwred against laes or damaae by fire. and all perib insured against by an e:- tended coverage endoreement. and such other riaks and perils as Mortgegee in its discretion may require. The policy or policies ot wch iASUrance st~all be in -tbe form in general use tmm time to time in the locality in which the Mortgaged Property is situated, sl~aA be ia such amount as Mortgagee may r~asonably require, BhaU be'isaued by a company or compani~ appmved by Mortgagee, and a6aU rnntain a standard mortgagee ctause with loss payable to Mortgagee, When- ever required by Mortsagee~ auc6 policies~ aball be delivered immediately to and held by Mortgagee. Anjr and all amouats received by Mortgagee under any of auch policier may be appiied by Mortgagee on the indebtedne~ aecured ~ereby in auch mannec as Moctgagee may, in its aole discretion, elect or, at tbe optiori ot Mortgagee, the entire atnount so received or any part thereof may be released. Neither the application nor the releaee of any such amounia shall cure or waive any default. Upon exercise of t6e power of eale givea in this Mortgage or othec acquiaition ot the Mottgaged Property or any part there- of by Mortaagee, such policies ahall become the a6solute property ot Mortgagee, 6. To tirst obtain the written conaent ot Mortgagee~ such consent to be gcanted or withheld at the eole diacretion of Mortgagee. before (a) remavina o~ demotishing, any building now or hereatter erected on the premiaea, (b) altering the arrangemeet. desiaa or strucEural charaMer t6ereof, (c) making any repaira which involve the. removal of structural parts or the expoaure of the interior ot auch buildina to the elements, (d) cutting or removing or permittin6 the cutting and re- moval oi any treea or timber on the Mort~aged Property, (e) removing or e:c6anging any.tangible pereonal property which is pact ot the Martgaged Pt~operty, or (t) eatering into or modifying any leasea of the Mortgaged Pmperty. To maintain the Mortgaged Property in good condition and repair, including but not limited to the mnkina of such repaira aa Mortgaaee may ftom lime to time determine to be necessary tor the preservation ot the Mortgaged Property and to not commit or permit any waste thereot. . 8. To comply with all laws, ordinancea~ regulations, rnvenante, conditiona and restrictions at[ecting the MortgAged Pmperty. and not to suifetor permit any violation thereot, . 9: I! Mortgagor faile to pay any claim, lien or encumbrance which is superior to this Mortgage, or when due, any tax or s+asessment or iaaurance pretaium, or to keep the Mortgaged Property in repair. or ahaU commit or permit waste, or it there be commenced any action or pra~eeding a([ecting tbe Mortgnged Property or the title thereto, or the interea! ot Mortgagee therein. including, but not limited to, eminent domain and bankruptcy or reorganization proceedinga, then Mortgagee~ at ita optioq may pay said clsim, lien, encumbrance, tax~ asseasment or premium~ with right of subrogation thereunder. may make such repairs and take such stepa as it deema advisable to prevent or cure such waste, and may appear in any auch aMion or proceeding and retain~couneel t~erein, and take such action therein aa Mortgagee deems ad- visaWe. and for any of suc6 puc~ Mortgagee may advaace such Bua~ of money~ iricluding.all cor.ts; reaeoaablenttorney's (eea and otber items of e:pense aa it deems necesaary. Mortgagee aha11 be the aole judge o[ the ~egality. validity and priority oi any such claim, Uen, encumbranae, taz, aseeserne~t and pr+emiuaz and ot tbe amount neceseary to be paid in satistaction thereof. Mortgagee ahall not be held accountaWe for any delay in making any auc6 payment, which delay may result in any additioaal interest, coeta, chargea. e=peoses or otherwise. . 10. Mortgagor will pay to Mortgagee, immediately and without demand, all suma of money advanced by Mortgagee ~ ~ to protect the security 6ereo( pursuant to thia Mortgage, including all coste, reasonabte attorney's fees and other items of s espenae~ fogether with interest on each such advancement at the highest lawtu! rate of interest per annum in the State of Florida, and all such suma and interest thereon shall be eecured hereby. . 11. All sume ot money secured l~eretry ehal) be {iayable without any relief whatever tmm any valuntion or appraiae- ment laws. • _ 12_ If de(ault be made in payment o( any instalment of principal or inEetest ot the Note or any part thereof when due, or in payment, when due, or any oi6er sum secured hereby, or in performance of ahY b~ Mortgasor'e obligationa, coven- ants or agreements hereunder, all of the indebtedness ~ued hereby shalt become and be immediate~y due ar~d payable at the option ot Mortgagee, without notice or demand which are bereby ezpresaly waived, in which e~nent Morfgagee may avail itselt ' oF all rights and remediea, at law or in equity, and lhis Mortgage may be foreclaeed with all rights and remedies aftotded by the laws ot Florida and Mortgagor ahall pay all coata, charges and e:penaes thereof~ including a reasonable attorney'e tee, including all euch costa, expenaea and attorney'a fees for any retrial, re6eating or appeals. The indebtedness set~ired hereby et~al! bear intetpst at the higbest law(ul rate of interest per annum in the 3tate ot Florida from and after t6e date of any such default of Mortgagor. If the Note providea tor instalment paymenta. the Mortgagee may, at its option, collect a late charge not to ezceed two cente for each one dollar not.paid to the Mortgagee when due, to reimburse the Mortgagee tor e:penees in coilecting and servicinA such instalment paymente. t 13. It default be made in payment, when due, of any indebtednesa serured hereby~ or in per(orn~ance of any o! ! Mortgagor'a obligations, covenante or aqreement hereunder: , _ (a) Mottgagee is authorized at any time, without notice, in ita sole discretion to enter npon end take po~aession of ~ the Mortgaged Property or any part thereot, to perform any acts Mortgagee deems neceseary or proper to conserve t6e security and to collect and rereive all rents, iaeuea and profils thereof, including thoee past due as well as thoee accruing € theteatter; a~ ~ j (b) Mortgagee ahall be entitled, as a matter of atriM rig6t, without notice and ezparte, and without regard to the vatue or occupancy of the security, or the eolvency of Mortgagor, or the adequscy ot the Mortgaged Pmperty as eecurity tor the Note, to have a receiver appointed to enter upon aod take posseseion o( the Mortgaged Pmperty~ collect the tents and pmfita theretrom and apply the eame aa the court may-direct, such receiver to have all the rig6ts and powers permitted under the lawa ot Florida. In either such case~ Mortgagee or the receiver may aleo take poseesaion of. and for t6ese purpoeea use, any and all personat property which ia a part of the Mortgaged Property and used by Mortgagor in the rental or leasing theteof or - any part thereo~ The e~ense (including receiver'a feea, couneel feea, coat~ and agent'a compensation) incurred.pure~ant to the powees herein contained shall be recured hereby. Mortgagee ahall (after payment of all caats end ezpenses incurned) ± : i , } # ~ ~ -2- S OIt ~A l ~.~..~:~~~~~N;~~~ _ _ : - - _ _ _ w..~-~ ~ ~ . . . . : ~ _.r=~:.