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Home My WebLink About0485 uc~wunt to puy au~•h rhurKes when due shall be ~~id by Mortgugar to Mortgugee un demaml. '~If, by reaspll d Any dr(uull by MoriguAor unde~ any provi~ion ot this Mortgagp. Mortgagee dcKlare~ all auma secured hereby to be due aad {wyuhle, Mortgagee may then apply any funds in aaid account againet the enlire i~debted~eas serured hemby. The entorceabilily o~ tbe covenanb relating to ta:es, aos~smenb and ir~auran~~e premiwns h~roin otherwi~e provided r}wll not be aftected except insofar as tl~o~e obligations have been met by compliance with thia {~eragraph. Murtaagee may from time to time at its optio~ waive. and after any suc6 waiver reinatate, any or uU provi~iona hereot requirins sueh depwita, by ~otice to Mortgugor in writing. While any auch waiver is in ettect, Mortgagor shall {wy ta:es, naseamenta and insurance premiums ux herein elsewhere provided. . 4. To pmmptty pay all taxe~ and s?sseasmenta xsaessed or levied under nnd by virtue ot any atate, (ederal, or munici{u~l . law or regulation hereafter passed. s~gainat Mottgagee upon this Mortgage or the debt hereby aecured. or u{wn ita interesl under this Mortgage, pm~ided howe~er, Wat the total amount so paid tor ~ny such tu:es pursuaat to thia pamgraph togeth• er wilh the inte~eat payable on said indebtedneas ehall not e:ceed the higheat lawful rnte of inter~t in Florida and provided tucther that in the event of the puasage of eny such law or regulation imposing e tax or aase~a8ment against Mortgagee up- on this Mortgt~ge or the debt secured hereby, that the entire indebtednean secured by thia MoMgage shnll thereupon he- ~ !rome imsned+4e~; sz•1 ~wye!±!e si the !+~+ti~n ~t 1~ln~oN?AR i 5. To keep We Mortgeged Property insured aguinst loea or damag~ by tire, and aU perila insured against hy an ex- tended cati~rage endorsement, artd such otlier risks and perils as Mortgaget! in ita diacretion may rEquire. The polecy or policies ot auch insurance ahall be in the fortn in general uae. from time to time in the Iocality i~ which lhe Mortgaged Pwperty is situated, ahall be in auch amount aa Mortgagee may reasoru.bly require, shall be isaued by a company or compaaies appmved by 1liortgagee, and shall contain a standard mortgagee clauee with lo~s payable to Mortgagee. When- ever required by Mortgagee, such policiea; ahall be delivered immediately to and held by Mortgagee. Any and ail amo~nta received by Mortgagee under uny ot such policies may be upplied by Mortgegee on the indebtedneas eecured hereby in auch manner aa Mortgagee muy, in ita eole diecretioa~ elect or, at the option o( Mortgagee, the entire amount so.r~eceived or any part thereof may be releaned. Neither the application nor the releaee of any such amounte shall cure or waive any detault. Upon e:erciee of the power of eale given in thia Mortgage or other acquisition ot the Mortgaged Property or any part there- of by Mortgagee, such policies shall become the ah~olute property ot Mortgagee. 6. To (irst obtain the written consent of Mortgagee~ such consent to be granted ar wilhheld at the sole discretion of Morigagee, betore (a) removing or demoliahing any twilding now or hematter erected on the premises, (b) altering the arrangetnent, design or atructural c6aracter thereof, (c) inaking any repain w6ich invoive ihe removal of structura! purts or t6e e:posure ot the interior ot such building to the elements, (d) cvtting or rnmoving or permitting the cutting and re- movai of any treea or timoer on ihe ~origaged FmperiY. iej r~tn~ving or eYCi-,iinging any taii~~i:e ~~~ir~ai pru~€#3; ~3~~::~ is part of the Mortgaged Property, or (f) entering into or modilying any leases of the Mortgaged Property. . 7. To maintain the Mortgaged Properly in qood condition and repair, including but not limited to the making ot such repairs ue Mortgagee may (mm time to time detetmine to be necessary (or the preservation ot the Mortgaged Prope~ty nnd to not commit or permit any wasle thereot. ~ 8. To comply with all laws, ordinances, regulations, covenanta, cnndilions and restrictions attecting ihe Mortgaged Property, and not to suffer or permit Any violation thereof. - 9. I[ Mortgagur (ails to pay any cl~im, lien or encumbrance which is superior to thia Mortgage, or when due, any ta: or asaessment or insurance premium, or to keep the Mortgaged Property in repair, or ehall commit or permit waste, or it there be commenced any action or proceeding at[ecting lhe Mortgaged Proper(y or the title thereto, or !he interest ot Mortgagee therein, including, but not limited to, eminenE-domain and bankruptcy or reorKanization proceedings, then Mortgagee, at ita Qption, may pay said claim, lien, encumbrance, ta:, aaeessment or premium, vvith tight of subrogation thereur~der, rnay make such repaira and take such stepe as it deema advisable to ptevent or cure such v~aste, and mny. appear in any auch action or pra>eeding and retain rnunael therein, and take such action therein as Mortgagee deems ~d- visable. and tor any o( such purposes Mortgagee may advance such sums of money, including all costs, reasonable attorney's fees and other items ot ezpense as it deems nec~ry. Mortgagee ahall be the sole judge of the legality. validity and priority _r _ _i_:_ ...1.... ~ ...1 ..f s~ o..s,...nf nn.,n.asr.. M M rmi~l ie~ Qafia(nrfinn > _ u.-: " ou~... .wam, ,.c.., cu~ws..,au: w, .u~, u v:°~.:.:... o.... •0••••:••••• thereof. Mortgagee shall not be held accountable for any delay in making any such payment, which delay may r~ult in any ~dditional interest, costa, chargea, expensea or otherwise. ~ f 10. Mortgagor will pay to Mortgagee, immediately and without demand, all suma ot cnoney advanced by Mortgagee M to protect the security hereof pursuant to this Mortgage, including all costa, reasonable attorney's tees and other items of ~ ~ e:pense, together with interest on ench s~ch advancement at the highest lawful rate of interest per annum in the State of , ~ r lotida, and all such sums anef interest thereon shall ne secured hereby. ~ 11. All sums of money secured hereby shall be payable without any relief whatever from any valuation or appraise- ment lawa. ' ~ - 12. If default be made in payment of any instsilment oi principal or in~erest of the Note ot any pai't thereof when due, or in payment, when due, or any other sum aecured hereby, or in performance ot any of Mort~ag4r's obligationa, coven- ants or agreements hereunder, all of the indebtednes$ eeruretl hereby ahall bec^ome and be immediately due and payable at lhe option of Mortgagee, without notice or demand which are hereby e:presaty waived, in which ev~nt Mortgagee may avail itselt of all rights and remedies, at law or in equity, and this Mortgage may be foreclaeed wiW 811 rights and temediee afforded by the lawa of Florida and Mortgagor shall pay all costa, chargea and e:pet?aea thereof, iacluding a r~sonable attorney's tee, including all auch c~ta, ezpenses and attorney's (eea for any retrial, rnhearing or appeals. Tl~e indebtednesa secured hemby ahall bear intereat at the highest lawtul rate of interest per annum in the State of Florida from and after the date of any such default of Mortgagor. It t6e Note providea (or inatalment paymenta, the Mortgagee may, at its option, collect a late charge not to e:ceed two cents for each one doUar not paid to the Mortgagee when due, to reimburee the Mortgagee (or e:penses in collecting and servicing sucb instalment payments_ 13_ It de(ault be made in peyment, when due, of any indebtedness eecvred hereby, or in performance ot any of Mortgagor a obligationa, covenanta or agreemen~ hereunder: (a) Mortgagee is authorized at any time, without notice, in its sole dircretion to enter upon and take poseeesion ot ~ the Morigaged Property or any part thereof, to perform any acta Mortgagee deems neceasary ~r ptoper to rnnserve the ~ eecurity and to collect and receive a11 rents, iesues and protits thereof, including thoee paat due as well s~s thoee acrruing ~ ~ thereatter: and ~ (b) Mortgagee shall be entitled, as a matter ot atrict right~ without notice and expatte, and without re8ard to the ~ value or occupaney oi the aecurity, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property aa eecurity tor ~ ~ the Note, to have a receiver appointed to enter upon and take possesaion ot the Mortgaged Propetty, rnliect the tenta and profita therefrom and apply the same as the court may direct, such receiver to have all. the ri~hta and powers permitted 3 under the laws of Florida_ 3 In either such case, Mortgagee or the receiv~r may alao take po~8sion of, and (or these purposea use, any and all ~ personal property which ie a part of the Mortgaged Property and used by Mortgagor in the rental or leasing thereot or ~ any part thereof. The e:penee (including receiver's Tees, counael fees, costa and agenYa compensation) incurred pursuant ~ to the poweia herein contained ahall be secured bereby. Mortgagee s6all (after payment of all coab and e:penses incurred) ~ -2- d~uK~~~ PAv~ ~ ~ : - _ - ~ . _ w_ _ _ . : ~ ~ -