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HomeMy WebLinkAbout0883 ~ ' , i ,~f'~ urcount to ~wy such churges when due sh:~ll I~e ~wid by Mortgugo~ b Morlgagee on dem»nil. lf, by maxun ot a~ny deGu~U ~ by Mortgngor unde~ any pwvision oi this Alortguge, 111ortgngee declares ull auma secured hereby to I~e due and ~wyuble, 1NortgAgee muy then npply uny tunda in suid uccouM againsf lhe entire indebteclness sec•ured hereby, The ento~ce~~bility ot the covenxnla rnleiting to taxes, assessmenta and inauranre premiums hemin otherwiee provided atwll not be af(ected ex~~ept inaotar t~s those obligations have beon met by compliuoce with this p~ragraph. Mortgagee ~wy trom time to time ~l ita ; option waive, and nfter any such waiver reinatate, any or ull provisiona hereof requiring such deposits, by notice to Mortgago~ in writing. While any such waiver ia in eftect, Morigagor ahtall pay taxea, usseasmente and inaurance premiuma as herein elsewhQrs provided. • ~ 4. To promptly pay All taxes and usaessmenls usaessecl or levicd under und by virtue ot uny state, tederal, or municip:~l ~ law or regulAtion heceafter paesed, ngainst I~lorigugee upon ihis Mortg~ge or the debt hereby secured, or upon its intereat ~ under this Mottgage, provided however, that the total amount so paid tor uny such tuxes {x?rsuant to this pa~agraph togeth- er with the interest payuble on said indebtedness shxll not exceed the higheat luw[ul rate o[ intereat in Florida and provided further that in the event ot the W~ge ot nny such luw or regulation im~ing a tsi: or asscxgment t~gainsl Mortgagee up- on this Mortgage or the deb! secured hereby, that the entirn indebtedness secured by this Mortgage sh:iU thereu~wn he- come immediately due and Ex+yable at the option o( Mortgagee. ~ 5. To keep the Mortguged Properiy insuted .igninst lose or damage by fire, :tnd all perils insured against by s~n ex- ; tended co~•eruge endorsement, and such other risks and perils as Mortgagee in its discretion may require. The policy or policies of such insurnnce shaU be in the tortn in general uee from time to time in the locality in which the Mortgaged Property is situs~ted, shnll be in such umount as Mortgagee may rea.sonably require, shall be issued by a com~xiny or ' companies approved by Mortga~gee, and shall contain t~ standard mortqagee clause w~ith loss Emys?ble to Mortgagee. When- ever required by Mortgagee, such policies, shall be delivered immediately to and held by MortgaRee. Any and all ~mounts received by Mortgagee under any of auch policies may be applied by Mortgagee on the indehteclness secured fiernby in such ~ manner as 11lortgagee may, in ita sole discretion, elect or, ~t Ihe option of MortgaRee, the entire flmount so received or any ~ part thereof may be released. Neither the application nor the release o( nny such amounts sh:~ll cure or wnive any defnult. Upon e:emise oi the power ot sale given in this Mortgage or other acquisition of the Mortgaged Property or 1ny p.~rt there- ? of by Mortgagee, such policies shall become the nlieolute property oi MorigaRee. ~ 6_ To fitst obtain the M~ritten consent of Morigagee, such consent to he grnntrd or withheld .~t the sole discretion of ~ Mortgagee, betore (a) removing or demolishing ~ny huilding now or hereafter erected on the premises, Ib) alterinR the ; arr.~ngement, design or structurnl character lhereof, (c) making any re~>airs which involve the removal ot structural parts ' or the exposure of the interior ot such building to the elements, (d) cutting or removing or permittinR the cutting and re- mo~•al of nny trees or timber on the MortRaged Property, (e1 removing or exchanging any tangible personal property which is E~ri of lhe Mortg:~ged Property, or 1f) entering into or modifyinR any leases of the A1ortgagecl Pro{~eriy• 7. To mnintain the Morigaged Property in good condition and repair, including but not timited to the making ot such t repaira sis Mortgagee may irom time to time determine to be neces~ary tor the preservation o( the Mortgaged Property And to not commit or permit-any waste thereof. - 8. To comply with all laws, ordinances, rngul.~tions, c-o.•en.~nts, conditions and mstrictions afferting the &tort~aged 2 Pro~~erty, and not to suffer or permit any violation thereof. ' F 9. I[ Mortgagor fails to pay :~ny claim, lien or encumbrance which is suE~erior to this MortRage, or when due, any !ax or assessment or insurance premium, or to keep the Mortgaged Property in re{~ir, or shall commit or permit waste, or it ' ; there be cQmmenced. any action or proreeding a(fecting the Mortgaged Property or the title thereto, or the interest of Mortgagee therein, including, but not limited to, eminent domain :ind bankruptcy or .reorgani7ation pra-eedings, then . Mortgagee, at its option, may pay said claim, lien, encumbrance, ta:, assessment or premium, with right of subrogation thereunder, may make such repairs and take saeh steps as it deems ad~~sable to prevent or cvm such waste, and may appear in any such action or proceeding and retain ~rounsel tfierein, and take such action'therein as I~lortgagee deems ad- visable, and tor any o( such purposes Mortgagee m:~y ad~~ance such sums of money, including all costs, reasonable attorney's fees and other items oi e:pense as it deems necessary. Mortgagee shall he the sole judge o[ the legality, validity and priority ot any such claim, lien, encumbrance, laz, asses4ment :~nd premium and of the amount necessary to be paid in satistaction thereof. Mortgagee stwll not be held accountable for any delay in making any such payment, which delay may result in f xny additional interest, costs, charges, expenses or otherwise_ i 10. Mortqagor will }~ay to Mortgagee, immediately and without demand, all sums of money ad~anced by Mortgagee ~ to protect the security hereof pursuant to this Mortgage, including all costs, masonable attorney's tees and other items of I ~ e:pense, together with interest on each such advancement at the highest lawful nte ot interest per annum in the State of i Florida, and. all such sums and interest thereon shall be secured hernby. E ~ 11. All sums of money secured herehy sh:~ll ire ~~ayable without any mlief whatever from any ~~aluation or appraise- s ment laws. 12. If de(ault he made in payment of any instalment ot princi~k~l or interest of the Note or any part thereot when ~ due, or in payment, when due, or any other sum secured hereby, or in performance ot any of Mortgagor's obligations, coven- ants or agreements hemunder, all of the indebtedness secured hereby shall beco~ne and be imtnediately due and payable at the ~ option of Mortgagee, without notice or demand which are hereby ezpressly waived, in which event Mortgagee may a~~ail itself ot all rights and remedies, at law or in equity, and this Mortgage may be toreclosed with all rights and mmedies afforded by : ~ the lawa oi Florida and Iblortgagor shall pay all costs, charges and expenses thereof; including e reasonabte attoi'ney's fee. _ including all such costs, ex}~enses and attorney's (ees for any retrial, rehearing ar appRelaf:Tbe"A~tlbtedneas secured hereby shall bear interest at the highest lawful rate of interest per annum in the~~~ f' -~.~.:~.::.~.+n~,~ter thg date oi any . such default ot Mortgagor. It the Note pro~ides tor instalment payments, the Mortgagee may, at its option, co~'lec't a late charge not to exceed two cents for each one dollar not ~~aid to the MortqaRee when due, to reimhurse the MorfgaRee tor ex~~enses in collectinR and servicing such instalment payments. 13. If detault be made in payment, when due, of any indebtedness secured hereby, or in performanc•e o( any of hlortgagoi s obligations, covenants or agreement hereunder: ~ (a) Mortgagee is authorized at any time, without notice, in its sole diacretion to enter upon and take ~session of the Atortgaged Property or any part thereof, to perform any acts Mortgagee deems necessary or proper to consen•e the _ ~ security and to collect and receive all rents, issues and profits thereof, including those past due as well .is those acrruinR ~ thereaiter; and ~ ~ r (b) Mortgagee shall be entitled, as a matter of strict right, without notice and exparte, and without regard to the ~ value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property as security {or ~ the Note, to have a receiver appointed to enter upon and take ~ssesaion o! the Mortgaged Property, collecl the rents and ' ~ pmfits therefrom and apply the same as the rourt mny direct, such receiver to have all the rights and powers permitted ~ under the laws of Florida_ ~ ~ In either such case, Mortgagee or the receiver may also take possession of, and [or these purposes use, any and all personal pmperty which is a part ot fhe Mortgaged Property and used by Mortgagor in the rental or leasing ihereof or ~ any part t6ereof. The e:pense (including receiver's fees, counael fees, costa and agent's compensation) incurred pursuant to the powera hernin contained shall be secured 6ereby. Mortgaqee ahall (aher payment of a1) costa and e:penses incurred) ~ ~ . -2- ~ - . ~ - ~~_ll.; ~ V~. f ~ ~ - ~ ~ .~:~s>a '-~'~i~ a~..~~'- ~ ~<r , = . v'~~:~^~=~.~~ .