HomeMy WebLinkAbout0701 a~ruunt lu ~wy su.•h ~•hurg.w wh~•n du~~ ah:~ll la~ ~?:~id by hlurtK;~Kur to Mo~tx:~g~: iin d~•maud. If. by n:u:un ot any d~~(:iult
by Alortg:~gor umlc~~ :~ny provisiun o( thia MartKagr, RtortKug.r dcti•lar~~ a~ll eume ~•und hrn•by to I~c due ~~nd ~k~y:~bli~.
Alortgagee muy then ap~~ly nny luncls ~o s+~id uciY,unl uKaunrt the ~nt~re indrbtedn~~ax ec~•umd hereby. The ento~r.:~b?lity o(
the ~weeru~ntx rrl.riing to taYrs, sure~a•xrmrota und inaucun~r premiuma hrm~n othrrwise ~ruvidecl shall nut I~e a(tected rYCe~~1
inaula~ ue thoee ubligutiona huve lK~en met by complian~r with thia ~wrugraph. MoriKugee muy (rom time to time at ite
uption waive, :md u(ter any such wai~•rr reinatidr, uny or ull p~o~•ixioru hereo( requirinR such de{rosils, by notice to
111orig+igor in writinR. While uny sui•h wuiver is in e((ecf, Mortgagor stwll puy tuxix, usacatunenla u?~d inaun~n~~e premiunw -
:~v hrrein elaewhrre pro~•id~.
4. To promptly {x~y aiU tuxes :~nd ux~ese~menla ua~c•~~1 or levied under t~nd hy viHue nt any xtnt~~, Ic~lrrs~l, or munii•ituil
I:~w or mgulution herea(ter {u~~x,d, ugainst Mortgugt~ u~an thia blorigt~ge or the debt hrrrby se~~umct, or u{wn ils intrreat
under this Mortgage, provided howe~•er, t}uU the lotnl amount w ~~id tur uny auch tuxea pursuant to this ~k~r.~Kraph loRrth-
er with the interest {k~ynble on said indeLtednexs sh:ill nut ezirid the higheat luwful rnlr ot i~terrst in F lori~i and p~ovided
further th:~t in lhe e~•ent ot the ~sg:ige ot uny auch law or mgulatiun iinWxing a t:~x or .i~x~+ment .~R:~inst Mortg:~Kc~e up-
on this Mortgage ~or the debt euY•und hereby, that the entire indebtedn~sx se~•urc~ by this MortKaKe sh:~ll therc•u~x~n tx~-
co~ne nnmediadely due und ~u~ynble ut the option o( Mortx:~Ree-
5. To keep the Mortgugrd Pro{mrty insurcrl against luss a~ dum:ige by (in, and ~ill ~xrils i~u;ureci ugainat by an ex-
• tended co~~rrage endorsrmenl, and sui•h other riska and ~x~r~Ls as MortK~~Ree ~n ita di~~rMion m.iy myuire. The ~>oli~•y or
~wlirir~ ot such insu?unce ahall be in the torm in Aeneral uae trom time to time in the («•rility in whi~•h th~ Mortg:~Rec1
Yro4~erty is situutecl, sh:?tl t?P in such amount us Alorlgugrr muy reasorwbly require, shall be ixsued hy H com{wn~ or
rom~?anies uppmved by Mortgugee, nnd ahaU cY~nt.~in n xtandarcl mortgagee clau.re with loss payaLle to AtortKugre. ~S'hen-
ever required by Mortg:~R~e, auch ~wlii•ics, shull tx• deli~en•d immediately to und held by 111ongagec. Any :~nd all amounts
rec•eived by 1~lortgagee under :~ny of such ~x~licies may l~e applied hy Mortgagee un the indebteclness scY•umd hemhy in such
manner as MortRagee ms~y, in its sole disrretiun, elect or. .~t the option of AfortR:~gee+, the entire umount so rccei~•ed or :~ny
~iart thereof mny he released. Neither the npplication n~r the rele.~se ot .iny such nmounts shaU c•are or wai~-p any detault.
lf~~on exercise ot the ~~ower o( snle gi~-en in this MortgaRe or other ai~q~isition ot fhe ~4ortRaRcd Pro~?erty or any p:~rt them-
o! by Mortgagee, such ~~olicies shnl) FxMOme the absolute property of Morlg:~gee.
ti. To (irst obts~in the written ~•onsent ot 111ortgaRee, su~•h consent to t~ Rrantc~l ur withhc~ld :it the soli• di~u•r~tion
1~lortgagee, betorn (a~l mmoving or demolishinK :~ny huildinR now or hema(ter erc~.•teci o~ the premisc~. Ib? alterinQ the
:~rrzinRement, design or structura~l char.i~•ter thenr~f, (.•1 m.ikinR any re~k~irs whi~~h im•ol.~e the removal o( stru~tural parts
or the exposure ot the interior of surh buildinR to the elements, Id1 ivttinF or removing or permittinR the cuttinR and re-
mo~al ot :~ny trE~es or timtx~r on the 1~1or1R:~Ked YroE~crty, lel remo~inR or ezrhnnRinR :~ny tanR~ble {x•nonal pm~x~rty whic•h
is p:~rt ot the hlortKaRcd Pm{~erty. or (f1 ~nterinR into or m~xfityinR any le:~ses o( the T1orlKaRcY1 Pro~x•riy.
7. 'Co m~int:iin the INortgagcd Yro~~erly in Ra~e1 ~wndition and mEk~ir, inciuding but not limited to the makinR ot such
re~u~irs as Mort~aKee may fro~n time to lime detern~ine to t~e necescz~ry (or the preFerv:dion of the Mor1R:+gecf Ym~x~rlv an<I
tu not commit or {~ermit nny w~ste lhemo(.
R. '1'o comply with :ill I:~w~s, ordin:~nces, mKul:dions, coven:~nt,, cnnclilionK :~nd nstrictions affei•tink the \1ortKaReY1
I'm~?ert~•, and not to su((er or {~ermit :~ny viol:?tion then~f.
9. If Mort~;aRur fails to ~~:w any ~~laim, lien or encumbr.imr Mhi~•h is su~Mrior to this 111ortRaKe, c?r whPn due, any taz
or asse:~cment or iasuroncr premium, or to keep the A4ortgaRec! Property in repair, or shall ~•ommit or ~x•rmit w•:~ste, or if
there t?e commenced .?ny action "or proceedin~ af(ecting thi~ MortgaRcd Pm~?erty or the title thereto, or the interest uf
. Mortgagee thernin, in~ludinR, but not limited to, eminent dom:sin iind Ikinkruptcy or reorKaniz.~tion proceedings, then
Mortgagee, at its option, mny ~k~y ~id claim, lien, encumbrance, ta:, assessment or prnmium, with riRht ot subroRation .
thereunder, may make Puch reF~:~irx and take such ste~~s as it deems :~dvis:ible to prevent or curn such waste, and may
ap{~ear in any such action or pnx•eedinR and ret~in counsel therein, and take su~•h :~ction therein as Mort~ugec~ dE~ms ad-
visable, and for any o( such pur~x?~ ~iortg:~Ree may ad~-an~Y such sums o( money, ini•luding_~iU c•osts, rea~n:iLle attorney~s
fees and other items ot ex~?rnse as it deems necess:~ry. AtortRagcr shall be the wle judge of the legality, validity and priority
of any sueh claim, lien, encumhr~m•e, tax, assessment :~nd premium and of the amount necesY:iry to t?e ~k?id in satistaciion
thereof_ Morfg~~gee shall not Ix held accountaMe !or any delay in making :~ny sui•h ~?ayment, whirh delay may result in
any additiua~l inlerest, costs, charRes, ex~~enses or othen~•isr.
10. 111ortR~~Ror will p:~~~ to MortRaRee, immediately and w-ithout demand, all ~ums of mmiey adk~ani•ctil by ~lortg:iRce
to pmtert the security hereut pur.cuant t~~ this MortRaRe, in~•IudinR all ~•osts. reasonahle attorney's fees and other items of
ex{~ense, toRether with interest on earh sueh advancement at the highest lawful rate o( interest per annum in the State of
Florida, and all such sums :~nd intemst themon chal) he serured hereby.
11. All sunu uf mone}• u~.vrc~! herehy sh:ill Ix> ~?.~y:~ble ~.ithout :~ny mlief wh:~tr4er from :~ny ~~aluation or :~p~~raiu~-
m~•nt laws. ' -
12. If de(.~ult I~e made in {k~yment ~?t any instalment of prin~•ip.il or interest o( the Note or any pari therro( when
due, or in ~k~yment, when due, or any other sum becvred hereby, or in pertormance of any of MorigaRor's obliR~tions, coven-
ants or aRreements hereunder, all of the indebtedness secured hereby shsill become and be immediately due and ~~ayable at the
upCion of ;11or1gaRee, without noli~•e or dem:ind vrhich :~re hereby ezpresvly waived, in which e~~ent Mortgagee may a~~ail itself
of all rights and remeclies, at law or in equity, and this Alortg.~Re may he toreelosed with ail rights and remedies a(tordecf by
the laws of Florida :~nd Mortqagor shall ~k~y all costs, ch:~rges and expenses thereof,~•inclnding n reasonable attorney's (ec.
includinR :~U such costs, ex{~ensc~ and :ittorney's (ees tor .~ny retrial, ,rehearing or nppoelr~-The iiredebledness secured hereby
shall bear interest at the hiRhest I~w(ul r.~te of interest per annum in the State ot Florida (rom and after the date o( am~
such default ot A1ortQaRor. If the Note pm~~idea tor instalment paymenta_ the MortRaRee m;~y. :~t its option, collec•t late
charRe not to ex~~eed two cents for ea~~h one dollar not p:~id to the DtortRaQee when due, to reimburse the A1ortRaRee tor
ex~~enses in ~ollc~•tinQ and xervi~•inR su~•h instalment payments
13. I( defaull t?e made in paymc~nl, when due, ot any indebtedness sec•ured herehy, or in {x~rform:~nce ot any of
~1~rtRaiRor's ohliKations. covenants or :~Kre~ment hemunder.
I.il Atort~aRee is :iuthorized at any time, w•ithout notice, in its sole discretion to enter uE~on and take ~w ~u~s,ion of
the ~1ortR:~Rrci Yro{~erty or :iny part th~rc~l, to ~~ertorm any :icts A1ort~:aKee deems necessary or proper to consen~e the
src-urity und to collect and rt~•ei~~e :~Il rents, i~~uc~ and pro(its thereof, inclading those past due .is w'ell :~s th~se acrruinK
thereafter: and
(b) Mort~tagee shall F?e entiUed, :is matter ot strict right, without notice and exFk~rte, and without regard to the
value or occupancy of the servrity, or the soh•ency ot Alortgagor. or the ndequacy of the MortRaRed Property as aecurity for
the Note, to hHVe a recei~~er ap{~inted to enter upon and tflke ~ssession o( the 114ortRaqed Property, collect the rents and ~
profita there(rom and apply the ~~me as the court mny dimct, such receiver to haee al) the rights and {x?wers pern?itted
under the laws of Florida. ~
In either such c:ise. MorlRagee or the recei~•er m:~y also take j?ossession of, and (or these pur{wses use, any and all
~~ersr~nal pm~~erty which iA a(~art of the MortRaged Property and used by Mortqagor in the rental or leasing lhereof or
any ~>art thereof. 7'he exE~ense (including receiver's feea. counsel tees, costa and agent's compensation) incurred pursuant
to the powers herein contained shall be secured hereby. ~tortgagee ahall laher payment of al) costs and e:{~enses incurred)
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BQCs~~~ PaCE 698 =
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