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Home My WebLink About0301 ~ l ' 'C c u~rount to ~x~y such charger when due ahaU t?e ~xiid t?y Morig+~gor to MoHg+~get. on demand. lf, by reaaon of any cleta~~11 by Mortgagor under any proviaion ot thi~ Mortguge, Mortgugee declares all surna secured hereby to be due'a~d payable, Mortgagee may theo apply uny funds in said account ngainrt the enti~+e indebtedneas eecund hrrehy. The enforceut?ility of the covenants relating ~to taxes. ae~rsments Pnd insurnnce premiwns herein otherwiso ~rovidee! shall not be attectecl e:cept inwiar as t6we obligations have been met by compliance with this purugrapb. Mortgagee mby tmm tirne to time at its option waive, end afte~ any such waiver reinstate. any or ~11 provisioni hereot requirins such de{~oaits, by notice to ~ott~ueor in writin~. While any auch waiver is in et[ect, Mortgagor shall pay tazea, a~neats and insuranee ptemiunie ' us hecein elsewhere provided. 4. To prompdy pay all tazes and seseasments uasee~scd or levied under r~nd by virtue of any atnte. tederul. or municipnl _ ~ 1aw or regulation here~ntter ~u~seed, againat Mortg~gee upoo thie Mortgage or the debt hereby secured, or upon ita inte~eat under this Mortgsige, provided 6owever, that the total amount so paid for any such tn:es pursuant to thia pamgraph togeth- . er with the interest payable on said inclebtedneas shall aot e:ceed the hi~hest lawtul rate ot inteceat in Florida aad pmvided • further thnt in the event o( We puseage of aay such law or regulation impoaing a ta: or asseasment agninst Mortgugee up- on thia Mortgage or the debt secured hereby, that the ehtire indebtedneas aecurecl by thia Morigage shall thereu{wn t?e- ' come immediately due and payable at the option of Morigagee. ~ 5. To keep the Mortgaged P[operfy insured against lo~? or dariwge by tire. and all perila insured againai by an ex- , tended coverage endorsement. and such other riska and perila as Mortgagee in ite dia~reiion may reyuire. The policy or policies ot such insurance s6aU be. in the form in generel uae trom time to time in the locality in which the Mortgaged Property u aituated, shall be in such amnunt as Mortgagee may reasonably require, ahall be issued by a company or ~ companiea-approved by Mortgagee, and shall contain a standard mortgagee~ clause with la~sa payuble to Mortgagee. ~When- ever required by Mortgagee, such policiea, shall be deli~ered immediately to and held by Mortgagee. Any and all amounts received by Mortgagee under any at such policiea may be applied by Mortgegee on the indebtednesa eecured hereby in such manner as Mortgagee may, in ita sole discretian, elect or, at the option ot MoKgagee, the entire amount so received or any ' part the~+eof muy be released. Neither the application nor the releaee of ~any such ~amounta ahall cnre or waive nny detault. ~ Upon exercise of the power ot aale given in thie Morigage or other acquisition o[ the Mortgaged Pmperty or any part there- of by 11lortgagee, such policies shall become the abeolute property of Mortgagee. ~ 6 To (irst obtain the written consent of Mortgagee, such consent to be grnnted- or withheld al the sole discretion ot Mortgagee, be[ore (a) remoring .or demoliahing any building now or hereatter erected on. the premisea. (b) altering the arrangement. deeign or atructural character thereof, (c) making any repains which involve the remuval o( siructural parts or the e:poeure o[ the interior ot such buiiding to the elemertta, (d1 cutting or. removing or permittir~ the cutfing and re- ; movai ot any trees or timber on the Mortgaged Pe+operty, (e) removing or e:changing any tengibie peraonal {~wperty which ~ is part o! the Mortg~ged Property, or (t) entering into or modi(ying any lexses ot the Mortgagzd Property. ~ T. To maintain the Morigaged Property in good condition and r~air, including Iwt not limited to the making o( auch ~ repairs aa Mortgagee may trom time to time detemune to be neeea~ry tor the presetvation ot the Mortgaged Property and ~ to not commit or pertnit any waste thereof. 8. To eomply with all lawa, ordinances, regulations, rnvenants, conditions aind testrictions atferting the _ Mortgaged ~ Property, and not to suf[er or"permit any violation thereof. _ , 9. It Mortgagor fails to pay vny claim, lien or encumbrance whic6 is superior to this 11lortgs~ge, or when due, any lax ~ or assessment or insurance premium, or to keep the Mortgaged Property in repair, or shall commit or permit wnste, -or i( ~ ~ there ~ be commenced any action or proreeding af[ecting the Mortgaged Property or the title t6ereto, or the interest o( Mortgagae therein, including, but not limited to, eminent domain nnd bankruptey or reorganization proceedinga, ~ then r Motfgagee, at ita option, may pay said claim, lien, encumbtance, ta:, asseasment or premium, with right ot aubrogation thereunder, may make auch repairs and take such steps as it deems advisable to prevent or cure such waste, and may ' agpear in any such action or proceeding and retain counsel therein, and take such action therein as tltorigagee deems ad- visable, and for any of such purposes Mortgagee may advance such sums of money, including a1! costa, teasonable attorney's feea and other items of ezpense as it deems necess~ry. biortgagee shall be the sole judge of the legalily, validity and priority of any such claim, lien, encumbrance, ta:, s~ssessment and ~premium and of the amount necessary to be paid in satis(action ' thereof. Morlgagee stwll not be held accountable ior any delay in making any such payment, which delay may result in ~ any additional inter~t, costs, charges, e:penses or oit~erwise_ r 10. Mortgagor will Ewy to Mortgagee, immediately and without demand, pil sums of money advanced by Mortgagee to protect the security here~f purauant to this Mortgage, including al! costs, reasonable attorney's fees and other items o( ezpense, together with interest on each such advancement at the highest lawtul rate o( interest per annum in the State of Florida, ~nd ail such aums and interest thereon shall be secured hemby_ - ~ ~ 11. All eums ot money secvred hereby ahall be p:iyable without any reliet whatever from any valuation or ~ppnise- ruznt laws. , 12. It detault t?e tnade in payment ot any instalment ot principal or interest of the Note or any part t6ereaf w•hen due, or in payment. virhen due, or any other sum secured hemby, or in per(ormance of any of Mortgaaor's obligations, cover- ants or agreements hereunder, all oi the iRdebtedness secured hereby shall become and be immedi~tely due and payable at the option of 1liortgagee, without notice or demand which are hereby e=pressly waived, in which event Mortgagee may eeail itsel[ ot all rights and remedies, at law or in equity, and this MoHgage may be forec[oeed with alt righta and remedies attorded by the lawa ot Ftorida and Mortgagor ahait pay all costs, eharKes and ezpensea thereof, including a reasonabie actorney's fee, - including all seich coets, ezpenses and attorney's tees for any retrial, rehearing or appeale. The indebtednese aecured hereby ' ahall bear intereat at the highest law[ul rate of interest per annum in the State ot Florida (rom and atter the date of any such detault of Mortgagor. It the Note providea for instalment puyments, the Mortgagee may, at its option, collect a late charge not to ezceed two cents for each one dollar not paid to the Morigagee when due, to mimburse the Mortgagee for e:penses in rollecting ar,d servicing such instalment payments. ' 13. tf default be made in payment, when due, ot any indebtednesa secured hereby, or in performance of any of Mortgagor'a obligations, covenanta or agreement hereunder: {a) Mortgagee ie authorized at any time, without notice, in its sole discretion to enter upon and take ~we.qesaion of the Mortgaged Property or any part thereof, to per(orm any acts Mortgagee deems neceseary or proper to conserve the aecurity and to collect and receive all renta, issues and pro(its thereof, inctuding thoee paat due as wel) ns those aceruing thereafter; and (b) Mortgs~gee shall be entitled, as a matter of strict righl, without natice and expatte, and without regerd to the value or occupancy of the security, or t6e aolvency of MoNRagor, or fhe adequacy ot the Mortgaged Property ae security for the Note, to have a receiver appointed to enter apon and take poeeession ot the Mortgaged Property, collect the tenta and protits thereirom and apply the sar:~e as the court may direct, such receiver to iiave all the righta and powers permitted ` under the Iawa of Fiorida. ` In either such case, Mortgagee or the receivgr may alao take po~esaion of, and tor these purposes uae, any and all ~ ' personal property which ia a part of the Mortgaged Property and ueed by Mortgagor in the rental or leasing thereof or any part thereof. The e:pense (including receivers [eers, caunsel tees, co~ta and agent'a compensation) incurred puisuant to the powers herein contained shap be secured hernby. Mortgagee ahali (after p~yment of all coete and e~enses incurred) -2- . b00K ~At7 ~'~Ct ~ ~ ~ ~ ; ~ _ - ° ~ w ~:x ~ ° ~ ~~:f ~ , a~~~