HomeMy WebLinkAbout0624 :n ~~uunt t~~ ~~:~y .u~•h CFlllf~,'lNi WIIPII ~lui~ ~hbll he ~1:iu) h~~ Aiurtga~;ur tu [Nurtgugi~• un drnuu~d. ll, by re:~~c,n ~it i~oY ~1Pf:~ult
h~• 111u~1K:~xur und~~r :~ny pru~~s~un u( thiY \iuriK:~~;~•, :11url~;:iK.•~• ~I~•ci;~t.•x ult ~utns arcurrd.hcrcby tu Iw due :~nd ~wyal,l~•.
\turt~;,~K~w~ m:~y th~•n upply ~~n~• fua~l~ in H:~id .~r~•uunt U~j111?1Y( II1(! Pntirr indebl~~cin.:.x s~•.•un~d h~~n•hy. ThF~ rnforceubil~t>~ ~~1
thi• ~•u~enants n1:Uing to t.~xex. :~snc•ssmcutx und inaur.~n~r premiunuc hrn~in uthrr~~xc~ {iruvi~l~d rhull nut tM a(ir~•1~~1 exc~•{d
~uso(ar as thuss~~ ubl~gutiunx k~~r (x~•n me1 by cum~~lwn~r w~lh thi+ ~x~ra~ra{ih. l~lu~tgugrr nu~y (rum t~n~e tu t~mr ut its
~~ption waive, and u(ter uny such wu?ve~ reinstr~t~•. u~y ur :~N pru~~isior?s hercr,t n~c~uiring xu~•h de{x,sitx, by noU~r to
\taKg:~~;or in writireR. N'hilr any xu~•h w:~ivrr ia in e((.ti•1, I1lurtg:~Kur shall ~r~y taxrx. a:csrueinrntx und insur.~ncr premiums
:~s hr~ein elsev?•herr pn~vid~d.
d. 'To prompNy ~u~y a~ll luz~•a :~nd :~.,w:~.+~u~•ntrc :~:~s~•..,~vi ur It~vi~•d und~•r and hy ~irlur ol :u~y st:itr, IiYier:il. or mui~u•~~~:il
l:~w• or n•gul:~tiun hemuftrr ~?:iss~rl, ugainst Mortgug~~ u~wn this lNurtKage or the drht hernhy ~KVnKi, ur u~wn its interra!
under this ~tortg~~g~•. {~ruvided howe~er. th:~t the totnl .~enuunt so +riid tor un~• su~•h tax~~c pur,uant to this {~:~ra~;ra~?h IuKeth~
~•r w~ith !he intNn~rl µryal~le un s:iid indcbt~~cin~•~ ,hall nut exc.vd the high.yt law(ul rutr ot ~nte~esl in Flurida :u~d {~ro~~~ded
further thut in thc event c?f fhe ~k?ss:~gr o( any such I:~w or mgulr~tiun ~m~w+inK s~ t:~t u~ a+s~•»nxv~t a~aintit ~tortKa~;~ti• up-
~~n this ;11ortK:~Ke ur the d~~ht s~vurt~cl hereby, th;~f Ih~• ~•nUrr ind~•htrcin~_xa sec•urv~l bt~ this MortRaKt~ ,hul1 th~mulNm iw•
~-ume immeclu~trly due .ind ~kryuble~ ut the o~~hon o( AlortxaK~r•
5. To k~~e•p th~ ~ltortgag~~t Yro~x~rty insun~c! :~K.unst luv, or damaKe~ by fin•, :ind aiU ~x~nls ~nsun•d aKuinrt by ;~n ~•a-
t+•nde~tl ro~~v:igF endor~rmrnt, and surh uthrr ~i.ks and {K~rils us A1or1~:~R~ti• ~n its dis~-trtion may nK~uir~~. 'I'he ~Hdi~•y or
{K~li~•~~w u( su~•h insur.~ncr sh:~ll lie in the (orm m Krner+~l u~e fn~m t~me to lin?E• in Ihe loral~ty in ~hi~•h Ih~~ \lortgaKrd
f'nqk•r1y i. ~ituat~~ci. ah.ill iK• in such anwunt :+s MurlKa~;~~c• m:n• reasc?nably ri~uiri•, shall IK issutrl by ~~um~~:~nr or
~•om{x~n~es .q~pm~•c~ hy ~ltorfK:~~;ec•, cind ~h:~l) ~•ont:~irt a st:indnrd mnrtK:~x~r~ ~•IAUKC N•1~F1 IO\C ~I:llahle to ~11ortK:~K~ti•. ~ti'h~•n-
~•~•er required hy 1loriguqee, ,u.•h ~H~liricw, shall ix• di•Ii~~~~Yl imm~~cli:itely to :~nd held h~• 111ortKaRi•e. Am• :~nd al) :~mount.
n~.ri~~ed by rinrtKa~~r unclrt any uf such {x,liciNS nu~> IH• ap~~li~~e1 1~~~ 111ortRag~v~ on the indet~tednr.s .~~•un~ei h~•rel~y in surh
manner s~s A1oHKaRee m:iy, in its soly dis~•mtion, et~•t or, at the option o( Afe,rtk:~k~ti•, the e~ntirr nn~ount s~? ~ri•i•i~~ed or a~y
~~art thererit may hr n>Ie~.~se~1. Neither iht• .ippli~•ation nor thc rnle.~u• ot any surh amountc shall ~•ure or waive am• deL•wlt.
lT~~on exrrcire a( the {x~v?•~•r ofs;~l~• Rirrn in this ~1orlRakP or oth~•r a~~quisition ot tht• M~~rtK:~Krc1 i'rcryK~rty ur :~ny part th~•n•-
u( by ~tortR.~Rre, sui•h ~xilici~y shall !wK•otnt~ th~ a{r.u~lufF ~~m{x~tty of \1nrtQ:~~;t~c•.
fi. . To first obtain the ~~ritt~~n cons~•nt uf ?~lurty;:~Ki~~. .u~•h ~•uns.•nl to Ik• Kr.~nt~v1 ~~r ~~ithh~•Id :~t 1h~~ .~dr eti.rr~•ti~~n ~~f
~1urtK:~Rre. IKlore 1:~1 remo~inR or detuulishin(; :inv bu~ldin~; now ~~r h~~rc•:~It~~r ~•ny•trd un the• pr~~miu•ti. ~h1 :~Iti•rink th~•
:~rr.~nRrment, cic•.~Kn or +tru~•tur;il ~•h.~ra~•ter lh~rrol, Ir) nu+kinR am rt~p:urs wh~~~h in~ol~r the ~t•mu~:~l ot stru~•turat p:~rts
ur thc rx~K?sum of ~hr interior ~?f curh build~nk to the elem~•nts, Idl ~•uttinR or mmnv~nR or ~?rrm~ltinR the cutUnR and re-
mo.:~l of an~ tn~•s nr tinilx•r ~~n th~~ ~1ortKaKcti1 PnqM~rty, 1~~1 mmocinR ur ex~•han~;ink :~ny tanR~bte ~x~nc,nal pnqN•rty whi~•h
i. ~r.~rt uf !h~• '.11ortKak~•~1 i'ru~w~rt~~. ur f(1 ~~ntrrin~; intu ur m~~dif~~in~; r~m• 1~•:ise~; ~f thr ~lurty;a~;~~1 !'ruprrt}-
7. 'I'o m:~inta~n the AturtK:~R~~cl Yru~xrt~ in Ru«t i~und~tiun ;~nd n•{,air, ~n~•ludinK ~,ut not lim~tt~f to th.• m:ikir~~; ul su~~h
rrpa~n as :~1uriRagee may frorn t~mc~ to t~mr driE•rnune t+, ?x~ nF•re".u}• f~~r the ~~n~rn~atton o( thc~ ~1~~rtKaR~Yf 1'rnp~•rh• :~nd
to not ~•ommit or ~x•rmit rim• M.~stc• then~oi.
K 7`0 ,•umpli• .~ith :~I) I,~~r~. ordtn:in~•~•~t, rc•RuLNiuns. i~o~i•n:uilv. ~~~ud~uun. :inrt r~•.tri~~tiun. :~t(t•~ I~n~; tht• \1nrtK:~{:t~1
i'ru~wrt~•, ;~nd not to sutfer or ~K~rmit :~ny violati~~n th~•reti,f.
'1. If ~tortkaKur fails to ~?a~• :~ny ~•I:uni. li~~n ur f•m•umbr:~n~•~• ~h~~•h is .u~N•rinr tu thi, \tunk:~Ke•, ur ~.h~•n due. :in~ t:~x
~~r u~.u•~.iment or insurani•e pn•m~um, or to k~-crp t6c~ ~Torf~taRc•d Ym~x•rt~~ ~n re~~;~ir, or sh:?l) r~++nnut nr ~x•nnit ~~:~ste, nr il
there Ixr commc•ncrd aht~ actiun or t~roi•e~Yliny; a(fe~•tinK tht~ ~1ortRaRt~c1 Pro~x~rt~ or Ihe titli~ thFmtu, or the intere.t u(
1fortRaRee themin, ini•ludin~, but not limited to, eminc~M dom:un :~nd bankruptr~• or r~irK:~niz~tion pr~x•c~c~linRs, then ~
~1or1~:~Ree, at its o~?tion, n~ay pay ~ud claim, lii•n, enrumbrani•e, tax, :~s~~•s.mc~nt or pmmiuni. M`ith ~iKht uf suhroRation
thereun~lrr, m:~y m:ike such rep.ur.c :ind take su~~h st~ps a. it dec~nTS :~d~i~:+{+le• to E~rwci~nt or ~•um such ~~~a~te, and may
! :~p~~e<~r in any tia~•h aeli~~n w~~rcx•t~c~dinK nnJ mt:?in cuw~sel thrrein. and t:ikr such a.-tion iherein as liort ~ i~e~ dcYm. ad
K: ~
~ is:~ble, and tor .~ny of su~•h purEx~ses ':11orlKaK~e may ad~:u~ce such sums ot muney, in~•luding .~1! i•usts, rea~nable attorney~'s
ttrs and other items of rx~x•nsr .~s it derms txcea+:~r~~. \turtk:~Rtr~ shall I~e fhr sule judKe of thc• IeKality, validity and ~uiurtty
~d any such ~•laim, Iien. encumbr.~n~•c, t:~x, aasrssmcnt :~nd prrmium :end of the amuunt neresti:~ry t~~ 1?e ~niid in s;~tislaction
thereoL !lfortRaRer sh:ill nut Ix held account:ible fot auy delay in makin~; an~~ su~•h ~?:~yaient, v~hi~•h dc•lay may result in
:~ny :~dditional ~ntere.t, i•usts. ~•harKe~, ez~x~nst~s or uthera•iu~.
lO. A1nrtK:i~or u•ill p:~~• 1~~ AloriQ:iKtr. immrtli:itely and ~.•ithout d~~mand. :~11 ~urns of mnney :~d~'an~rd hy ~1orlQa~~~~
' to prMcY•t thi~ se~vrity hertro( pursu:~nt t~~ th?c \1ortRaRC. includinR :il1 i~ostc, ma.on:~ble atMrnc•~•'s (trs and uther items of
t~x~?ensr, toQether ~~ith int~ rest un ea~h ~uch advan~~c~mcmt at the hiRhest l:+wfal rate of intrrr.t ~x~r annum in the titate o(
F'lorida. :~nd all su~-h sums and inten•st tht•nr?n ~h:ill h~ ce~•umcl hereb~•.
11. AI( sumti u( monry ,~vvrcYl he•re•!n• ch:~N 1~• ~r.~y:~hle ~+vthout am~ n•lic•f ahatrver from any ~:tlu:+tinn or a~~pr.ii.t•
~nc•nt !:~?ss.
12. 1! drtault !r~• nu~di• ir? ~?:~ym~•nt ~~f an}~ ~n.talm~~nt ~d ~~nn~•i~r.~l ur inti~rest o( the Nute• or am' ~r,irt thert~~l when
due, or in p:~yment, v~~hen due, or any uthrr sum sc•cured hereby, or in ~~rform.in~r ut any n( 'ltortRaQor's otrliKations, co~~c~n-
:~nts or agreements hereundcr.:ill u( thE• ind~badn~~s se~•urc~l hereby sh:itt t,erome and be immedi:~ic~ly due and µ~yahle at the
option of MortgaRee. K~ithout noti~•e or df~m.~nd whi~~h are hereby expressly waived, i~ whi~•h event htortgaRee m.+y a~ail itsel(
~?f al! riRhts and remedie~. :?L la~ or in eyuity, and this ~turtFaKe may l~e (oreclused with .ill rights and ~emPClicw; af~ordeci hy
the I:~w~s o( F lorida and Atortg:~Kor ~h:~ll pay al) costs, charKes ;~nd c•x~k•nses thereof, includinR a re:ssonatile :~ttorney's fe~e.
in~•luding :III SUCFI Clt!L~B, px~x~~k~ and :~ttorney's (f~c-s for :~m~ retri:+l, reht~arin~ or appeals. The indehteciness ~•ured herefiy
sh:~tl-trear interest :+t thi~ hiRhest lawtul rate of intFr~t ~n~r annum in the St:~te of Florida (mm .~nd a(ter the date of any
su~h detault of ~tortRaRor. I( the \ote pro~•ides tor inst:ilmE•nt {?:~yments, tht~ :~1ort~aKee m:~~, at its opt~on, collec•t a I:~te
charRe not to ezc•eed lw•o cents f~~r i~ai•h unp d~,llar not p:iid to the ~tortg:i~ee when due, to rc~imt~urse the ~11ort~a~er for
ex~~nsc~s in colle~•ting t+nd ser~~icin~ su~•h instalment payments
13. I( default Ire made ~n paymrnt. ~~~hen due, of any indehtedn~•LS scr•ured hereby, or ~n ~~ertormanr~ of any oi
~1oHRaKor's obltR:~tions, c•nven:+nts or aKrr.~rnent herPUndrr.
Ia) ~1ort~aRee is authoriiecf at any time, without notic•e, in ~fs s~~le de,r-e•reti~~n to entrr uF~on and fake ~x~ss~~stiion of
the ;tortRaRc~cl YroE?eri~• or ~ny ~~art therent, to ~xrtorm an,y cu•ts 11oriRaKee deE~ins n~~•FSS:iry or ~?m{?er to i•onsen•e the
security :~nd to coll~•~•t and rt~~•c~i~~ :ill rnnt~, is,tu~s :~nd protits tht~rcti~f, inrludin~ tho;:i~ p:~st dur as ~c~ll :~c thow• a~~~ruinQ
thereafter: and
Ib1 MortR:~Ree chall I~ entilleci, as a matter o( strict riRht, w~ithout notice :~nd ez~k~rte, and w•ithout reR:~rd to the
value or ~~•up.~nry ~r( the ~curilr, or fhe uih•~nc•y nf ?11ort~xRor, or the adrqua~y c>f the AtortKaRed Property as cc~~urity for
the Note, !o ha~~e n rn~•pitier ap~x»ntrd to c~ntc~r u{~n and take {ws~c..ion of the I~tortK:~Rec1 Pm~~erty, ~ollert the r~nts and
~~rofits therefmm and ap~~ly the 5im~ :~s thF ~•ourt m:~y dire~•t, such rei•eiver to ha~•e all the riRhts and ~x?v~•ers {x~rtnitt~d
under th~ I:~w•s o( F lorida.
In rither su~•h case•, ~1urt~aRtr or th~~ recri~~er may aIM~ takt~ ~r>.~c:+sion of. and (or th~~se pur~x~ces use. :~ny and nll
~x~n~~n:il ~?ru{?eHy w•hi~•h is ~?:+rt o( the ~tortRagecl Yro~x~rty :+nd used by ;~lortgaRor in the rental or Ie:+sinR thereof ~r
:+n4 part thereof. The ex~~enae lincludinq re~•ei~•er's (ees, councel fees, costs and agent's com{~ensationl incurred pursuant
to the powers here~n contained shall be secured hereby. AlortgaRee shall Iafter payment of alt coats and expenses incutred 1
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