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Home My WebLink About0512 Wv~ ; . • r ••,;j t + t eurouM to puy such cherges wheo due ahall be paid by Mortgt~gor to I?~ortgugee on de~u~nd. If, by rei?son ot uny Je(:~ul~ by Mortgugor under any provision ot this Mortguge, Mortgagee declu~ all sums secured hereby to he due and ~wyabie, Mortgagee may then upply any tunds in a+~id account againet ihe enlire indebtedness ~aured hereby. The en(orc~eubility ot lhe covenanb celatina to taYea, ae~easments and imuranue premiwtu henin othetwiee provided shall not be attected except insofar xs t6o~e obligations have been met by complian~e with this paregraph. Mort~ee may from time to time at ita optio~ waive. and atter any such waiver reinatate, eny or nll proviaions hereot requiring such deposits, by notice to ~ Mortgugor in writinR. While any wch wai~~er u in eftect. Mortgasos ahall pay taxea. aasemments and inaueance premiums i us herein eLewhere provided. 4. To pmmpUy pay aU ta~es and aaseasments +~aseased or levied under and by~virtue ot any ~tute, tederul, or municipnl !aw or reguletion herea[le~ paased. againsl Mortgaltee upon thia Moct~age or the debt hereby secured, or upon ita inte~eat unde~ this Modgage. pwvided however. that the total amount eo paid tor any such tuxes pursuaM to thia parngraph togetl~- er with ihe interest payable on said indebtednees aFwll not excecd the highest law[ul rate ot interest in Florida and pmvided turther lhat in the event of the pa~e ~t aay such law or regulation imposing a tax or asse~sment ugainst~ MottBaBee up- on this Mortguge or the debt eecured hemby, ihat the entire indebtednean aecured hy this MortgAge shnll .thereu~wn he- come immediately due aad {wyable at the option ot Mortgagee. 5. To keep the Motigaged Propedy insured againat lo~ or damaBe by tire. and all perils inaured ugainet by an ex- ~ tended coverage endoreement, and such other riska and perils as Mortgagee in ita discretion m~y require. The policy or • polieiea ot such inaarnnce shall be in the torm in general use from time to iime in tl~e locality in which the Mortgaged ; Property is situated, ahall be in such amount as Mortgagee may reasonably require, ahall be issued by a company or ~ companies approved by Mortgagee, and ahall contuin a standard mortgagee clause with loes payable to Mortgagee. When- ~ ever required by Mortgagee, auch policiea, ahall be delivered immedixtely to and held by Mortgagee. Any and all amounts received by Mortgugee under any ot suc6 policiea may be applied by Mortgagee on the indebtedness secured hereby in such manner as Mortgagee may, in its sole discrelion~ elect or. at the option o( Mortgagee. the entire amount so received or any part thereot may be releaeed.. Neither the application nor the celease of any such amounta shall cure or waive any detault. Upon e:ercise ot ihe power o( sale given in this Mottgage or other acquisition of the Moitgaged Property or any part there- o( by Moctgagee, surh policiea shall bc~.~ome the aheolute property ot 1liortgagee. 6. To tirst obtain lhe written ronsent of Morlgagee, such consent to be grunted or withheld at the sole discretion o( Mortgagee, betore (a) removing or demolishing any building now or hereatter erected on the premises, (b) altering ehe arrangement, design or structurai c6aracter thereof, (c) making any repairs which involve the temova! ot structural parts or the e:poaure ot tbe interior ot such building to ttie elements, (d) cutting or removing or permitting the cutting and re- moval of any trees or timber on the Mortgaged Property, (e) removing or e:chnnging any tangible personal property which is part of the IVLQrtgaged Pmperty, or (t) entering into or modifying any leases ot the Mortgaged Property. ~ ; 7, To maintain the Mortgaged Properly in good candition and repair, including but not limited to the making ot such reµairs as Mortgagee may Irom time to time detennine ta be necessary for the preservation of the MortgaRed Property and ; to not commit or permit any waste thereof. ' 8. To comply with all lsiws, otdinances, regulations, covenants, conditions and restrictions a(fecting the Mortgaged Prr,perty, and not to suifer or permit any violation thereof. 9. I[ Mortga~or tails to pay :~ny claim, lien or encumbrance which is su{~erior to this MortgaBe, or when due, any tax or assessment or inaurance premium, or to keep the Mottgnged Property in repair, or shall commit or permit waste, or if there be rnmmenced 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 reorKanization proceedings, then Mortgagee, at ita option, may pay said claim, lien, encumbrance, taY, asseasment or premium, with right of subrogation thereunder, may make such rnpairs and take such steps ns it deema advisable to prevent or cure such waste, and may : appear in any such uction or prnc.~eeding and retain counsel therein. and lake such action therein aa Mortgagee deems ad- visable, and for any of such purposes Mortgagee may advance such sume of money, including a11 costs, ceasonable atlorney's (eea and other iteros oi ezpenae as it. deems necessary. Mortgagee ahall be the eole judge of the legality, validity and priority - o( any such claim, lien, encumbrance, taz, aaeeasment and premium and of the amount necessary to be paid in satisfaction thereot. Mortgagee sha11 not be held accountable for any delay in making any such payment, which delay may result in 'i any additional interest, costa, charges, ezpenaes or otherwise. 10_ Mortgagor wip pay to Mortg:~gee, immediately and without demand, all sums of money advanced by Mortgagee to protect the security hereo[ pu~suant to this 1liortgage, including all costs, reasonable attorney's fees and other items of ~ ~ e:pense, together with interest on each such advancement at the hig6est lawtul rate of interest per annum in the State oF ~ Florida, and all such sums and interest thereon shall t?e secured hereby. d 11. All sums of money secured hemhy shall i~e payable without any mlief whatever from any ~•aluation or appraise- ment laws. . 12_ It detault be made in payment ot any instalment of principal or interest of the•~1ote or any part thereof when due, or in payment, when due, or any other sum secured hereby, or in performance of any o[ Mddgagos's obligations~ coven- ants or agreementa heteunder, all of ihe indebtednesa secured hereby shall become and be itnmediately, dueand-p~,yable at the option ot Mortgagee, without notice or demand which are hereby expresqly wa~ved, in which event Mort$agee may a~~ail itselt ot all righta and remedies, at l~w or in equity, and this Mortgage may be toreclosedwith all, ri~hte and remedies afforded ~y the laws of Florida and Mortgagor shall pay all costs, charges and e:pensea t~fereof;' ~ritluding a reasona~ile attbth~y's fee;" including al! such costs, expenses and altorney's fees (or any retrial, rehearing ur appeals. The indebtedness secured hereby shall bear inte~+est at the higheHt lawful rate ot interest per annum in the State of Florida from and after the date o[ any such detault of Mortgagor. I( the Note pmvides for instalment payments, the Mortgagee may, at ita option, collect a late 1 charge not to e:ceed two centa tor eac6 one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee tor ezpensea in collecting and servicing such inatalment payments. ~ 13_ It de(ault be made in payment, when due, of any indebtednesa secured tiereby, or in performance of any o( Mortgagor's obligations, covenanta or agreement hemunder_ ' : (a) Mortgagee is authorized at any time, without notice, in ita eole diacretion to enter upon and take possession of the Mortgaged Property or any part thereof, to perform any acta Mortgagee deems necessary or proper to consen~e the ~ security and to collect ~nd receive aU rents, issues and profits thereot, including thoee past due as well as those acrruing ~ ~ thereaiter: and ~ (b) Mortgagee shall be entitled, as a matter of atrict right, without notice and ezparte, and without regard to the ' ~ value or occupancy of the security, or the aolvency of Mortgagor, or the adequacy of the Mortgaged Property as security for the Note, to have n receiver appointed to entes upon and take pos~easion ot the Mortgaged Property, collect the rents and ~ ~ profita therefrom and apply the same aa the court may direct, suct~ receiver to have all the rights and powera permitted ' under the laws ot Florida. i. ~ In either such case, Mortgagee or t6e receiver may also take posse~ion ot, and for these purpoees uae. any and all g peraonal property which ia a part ot t6e Mortgaged Property and ueed by Mortgagor in the rental or leasing thereof or ~ any part thereof. The e:pense (inclnding receiver'a feee, coanael feee, oosta and agent's compenaetion) incurred pursuant ~ to the powe~ herein contained ahall be secured hereby. Mortgagee ehall (after payment of aU costs and ezpet~ses incurredl ~ . -2- ~0~287 ~ 5ip ~ . _ ~ ° " . ~ r, ~ . . ~ `T'`'~