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HomeMy WebLinkAbout0940 ; . . . i t. ~ , , 'l i . t; ~.J ~~Y~ount to {uty such cha~gw when due shnll I~e ~~id by Mortgugor to Mortgugee o~ demand. lf, by reueun of any deluull hy M~rt~;~~gor undrr ~ny F~rot•is:on o1 thia i?!oc!g~ge, Mortgagee rh~•lstes s!! sun~ serttred herel~y !o be due 9ad i:sy:st~lr, - Mortgngee may ther? apply any tunds in said nccounl ugainst thd entire indebtedneas secured hereby. The entorceability o( ' the covena~b relutic?~ to taxes. asw.~armenta and inaurance prea~iums hecein otherwise provided ahall not be at[ected except t insotar as ihose obligatiQns have been met by compliance with ihia paragreph. Mortgagee may (rom ti~e to time at its ( oplion waive, and atter any such waiver reinstate. any or aU provisions hereot requirina such depoaits, by notice tu Motlguaor i~ writin~. While uny wch waiver is in eflect, Moctgagor shall pay tuzes, ns~essmenls and insurance premiums ~ us herein elaewhere providad. 4. To promptly pay all tnxes and aasessmenta asse~sed or levied under and by viirtue ~t uny slute, tedernl, ur municipal ~ Inw or regulution bereafter passed, againat 111ortgugee u~~on this Mortgage or the debt hereby secured, or upan its interest ` under thia Morigage. provided however. thut the total aaiount so paid (or ar?y such tnxea pursuunt to thia paragraph togeth- ~ er with the inter~t payable o~ said indebtedness st~all not e:ceed the highest lawful rate o[ interesl in Floridu und provided furlher lhut in the event ot fhe paasage of any such law or rngulation imposing a tax or ussessment againat Mortgagee up- on thia Mortguge or the debt eecured he~by, that the entire indehtednesa secured by this Mortgage ahull thereupon be- comc immediately due and payable at the option of MoMgngee. i 5. To keep the Mortguged Pwperty insured against lo~s or dt~magc by fi~e, and all perils insured against by an ex- tended coverage endorsement, and auch other riaka and perils s~s Mortgegee ir~ ita discretion mxy require. The policy or i policies ot auch insuranoe ahall be in the [orm i~ general use (rom time lo time in the locality in which the Mortgaged ' Property is aituated, ahall be in such timount aa Mortg+~qee may reasonably require, atwll be issued by a company or ' companiea approved by Mortgagee, and ahall contain a standard mortgagee clause with loss E~ayable to Morigagee. When- ~ ever reyuired by Mortgagee, such policies, ahail be delivered immediately to and held by Mortgagee. Any and all amounts received by Mortgagee under any of such policies tnay be Applied by Mortgagee on the indebtedness secured hernby in auch mA~ner as Mortgagee may, in its sole diacretion, elect or, at the option of Mortgugee, lhe entire pmount so received or nnv ' }wrt thereof may be released. Neither the application nor the release ot any such amountn shal! cure or waive any detault. Upon exerciee of the power o( sale given in this Mortgage or other acquisition ot the Iltortgnged Property or any part there- of •by Mortgegee, such policies ahal) become the abeolute property of Mortgagee. ; F 6. To (irst obtain the written consent of MortRngee, such consent to be gr~nted or withheld ~t the sole di~cretion ot ~ Mortgagee, betote (a? mmoving or demolishing any twilding now or hereatter erected on the premises, Ib) altering the ~ arrs~ngement~ design or struclurnl character thereot. le) making any repairs which invol~~e the removal o( structural parts t or the exEwsure of the interior ot auch building to the elements, Id) cutting or rnmoving or permilting the cutting and re- i moval o( any trees or timber on the Mortgaged Properiy, (e) removing or exctwnging any tangible persoruil property which is ~h~rt of the I?tortgaged Property, or It) entering into or moditying nny leases of the MortRaged Pro~>erty. 7. To maintain the Mortgaged Property in good condition and re~~air, including but not limited to the makinR o( such repairs :is MoH~tagee may trom time to time detercnine to be necrssary (or the preservntion of the Morigaged Property and to not commit ot ~~ermit any waste thereof_ 8. To comply with al) laws, ordinunces, regulations, covenants, condilions ~nd restrictions atfe.•tinR the Mortgagecl Property, and not to suffer or permit any riolation thereot_ 9_ It Morlgagor faits to ~k~y :my cl~im, lien or encumhrance which is su~~erior to this Mort~age, or when due, any tax ; or asseasment or inaurance premium, or to keep the Mortgaged Property in repair, or shall commit or permit waste, or i( there be comtnenced any action or proceeding atfecting the Mortgaged Property or the titte thereto, or the interest of } Mortgagee therein, including, but not limited to, emihent domain and bankruptcy or reorganization proceedinga, then ~ Mortgngee, at ita option, may ps~y said claim, lien, encumbranre, tax, nssessment or pmmium, with right of subrogation thereunder, may make such repairs and take such steps :~4 it deems ad~~sable to prevent or cure such waste, and may appear in any such action or proceeding and retain counsel tfierein, and take such action thernin as Mortgagee deems ad- ~isable, and tor any ot such purposes Mortgagee may ad~•am~e such sums o! mortey, including all costs, reasonable altorney's fees and other items ot expense as it deems necess:~ry. Mortgagee shall be the sole judge oi the legality, validily and priority of any such cleim, lien, encumbrance, tax, assessment and premium and of the amount necessary to he paid in satisfaction thereof. Mortgagee shall not be held accountable for any delav in making any such payment, which delay may rnsult in any additional interest, crsls, charges, e:penses or otherwise. , ' 10_ Mortgagor will pay to Mortgagee, immediately and without demand, all suma of money ad~•anced by Mortga~ee ~ to protect the security hereof pursuant to this Mortgage, including ~1! costs, reasonable attorney's fees and other items of ` expenae, together with interest on each such advancement at the hiqhest lawful rate of interest per annum in the State ot ~ E Florida, and all such sums and interest thereon shall F?e serured hereby. ~ il. All sums o( money secured hereby shall I~e ~x~yable without any relief whatever trom any ~~aluation or ~ppraise- ~ ~ ment lavrs. ; ~ 12. If detault be made in payment of ~ny insfalment o( princi~~al or interest ot lhe Note or any part thereof when ~ due, or in payment, when due, or any other sum secured hereby, or in performance ot any ot Mortgagor'a obligations, co~~en- ; ants or agreements hereunder, all of the indebtedness secured hereby ahalt bec.~ome and be itnmediately due and payable at the ; ~ option ot Mortqagee, without notice or demand which are hereby expressly waived, in which event Mortgagee may a~•ail itself : of all tights and rnmedies, at law or in equity, and this Mortgage may be foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costs, charges and ezpenses thereof, including a reasonable attorney's fee, including all such costs, expenses and attorney's fees tor any retrip~,• rehearing or app~ls. The indebtedneas secured hereby shall bear interest at the highest lawtul rate of interest per annum in the State.ot.Florida from ~nd after the date of any ~i such default of Mortgagor. It the Note provides for inslalment payments, ihe biortgaqee may, at its option, collect a late ~ charge not to e:cred lwo cents for each one dollar not ~h~id to the Mortgagee when due, to reimburse the Mortgagee tor ~ expenaes in collecting and servicing such inatalment payments $ ~ 13. I( detault t?e made in payment, when due, of any indehtedness secured hereb,y, or in performance o( any of ; Mortgagoi a obligations, covenants or aRreement hereunder. ~ (a) Morlgagee is authorized at any time, whthout notice, in its sole discretion to enler upon and take possea4ion of s the Mortgaged Property or any part thereo(, to perform any acts Mortgagee deems necessary or proper to consen•e the ne..~urity and to collect and receive all rents, issues and profits thereof, including those i~ast due as well as those accruing ~ therea(ter: and ~ ~ (b) Mortgagee shall be entitled, aa a matter o( strict right, without notice and exparte, and without regard to the ~ value or occupancy ot t6e security, or the solvency of 11Sortgagor, or the ad gaged Property aa security (or equacy of the 11~ort : ~ the Note, to have a receiver appointed to enter upon and take posseasion of the Mortgaged Property, collect the rnnts and profita therefrom and apply the same as the rourt may direct, such teceiver to have all the righte and powere permitted ~ ~ under the laws ot Florida. ~ In either such case, Mortgagee or the receiver may also take poasession ot, and for these purposes use, any and all ~ ~~ersonal property which is a part of the Mortgaged Property and uaed by Mortgagor in the rental or leasing thereof or ~ any part thereof. The expense (including recei~•er's fees. counael teea, costa and agent's compensation) incurred pursusnt ' ~ to the powers herein contained shall be secured hereby. Morlgagee ahall (atter payment of all coste and e=pensea incurred) ~ ~ F -2- ~ Q e~l~?r~~ Pa6E ~ g.~ r- F t ~ t ~ ~ 1~ # r ~ . £ ~ ~ ~ '.,'.-"Y l ~a Y- : _ " " _ w . _ - ~ -a ~ ~ . ~ ~ ~ Rrr~"T~"`~:~' w_ .+n'`i".