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HomeMy WebLinkAbout0862 ~ :~c.~,unt to {H~y auc6 cluirKra ahNn due atu~U l~e ~uiid by Mortgagor to Mor~gegee un denuu~d. If, by reueun ut any deluuU by MoHgugor under uny provision o( this INoriguge, Mortgagi~e declures ul) suma +?t~•ured herrby to he due :~nd {u~yuble, Morigagre may then apply n~y fu~ds in u~id account ugainst the enlire indebtedneas aecund hNrrby. The enforcrubility o( the co~•e~wnb reluting to laxes, awirxamenb and inaurnnce premiums herein otherwire provided shali not be aftected eYCept iruo(ur us thore ubligulions huve t~n mel by compliunce with this {?aragraph. Morlgagee nwy from time to lime ut it~ option waivo, and after any such WIIIYC~ reinatate, ~ny or ull provisiooa hereof requirins such depoaita, by notice to Mortgagor in writing. While uny auch waiver is in ettect, Mortgagor shull pay ta:ea, aneesan~enta and insurnnce premiuma .is herein elaewhere provided. To promptly {wy uli tuYea nnd uaseesmenta :u~cn~xe•d or levied under and hy virtue o( nny alate, (edernl, or munici~xd luw or regulution hereafter puwed, ugainst Mu~tgugee u~~on this Mortguge or lhe debt hereby secured, o~ upon its intereat under this Mortgage, provided however, thut the tolal t~mount so paid (oc any such tn:ea purauant to lhis {wrugraph togeth- er wilh the interest pnyable on said indebtednexa shull nol exc~eed the higheat lawful rate ot inteteat in Floridr~ and provided further that i~ the event ot !he pasa:?ge ot any such law or regulation im{wsing a ta: or axsessment ag~inst Mortgagee up- on this MoNguge or the det?t secured hereby, that the eotire indebtedness secured hy thie Mortgage ahtill thereu~~on be- come imm~diately due and ~wyable al the option o( Mortgagee. 5. To keep the Mortguged Property insured against los-s or damaRe by fire~ and all perila inaured againal by an ex- tended co~•erage endoraemrnt, and such other riaka and perils :is Morigagee in its diacrelion may require. The policy or ~~olii•iea o[ auch insurance nhull be.in the torm in general use from time to time i~ the locality in which ihe MortRa~gEd Properiy is situnted, shall he in such amount as Morigagee may reasonably require, ahall be iasued by a com{mny or rompanies approved by Mortgagee, and shall contain a stanciard mortgagee clause with lo~a payable to Morigagee. When- eve~ required by MortgaRee, such {wlicies, shall be delivered immediately to and held by Mortgagee. Any and all amounts received by Mortgagee under Any ot such policies muy be applied by Mortgagee on the indeMednesa secured hemby in such manner as Mortgagee may, in ita sole diacretion, elect or, at the option of Morigagee, the entire amounl ao received or ~ny part thereot may be released. Neither the application nor the relense of any such amounts shall cure or waive any default. Upon exerciae of the power ot aale given in this Mortgage or other ncquisition ot the MortgaRed Property or any parl there- o( by Moitgagee, such policies ahall become the aheolute property ot Mortgaqee_ 6. To tirst ohtain the writlen consenl of Mortgagee, such consent to he granted or withheld al the sole discretion of blortgagee, brfore la) removing or demolishing any buitding now or hereafter erected on the prem~ses, (b) altering the arr.~ngement, design or structural chacacter thereof,'!c) making nny repaira which im•olve the removal o( structural paris. or the e:posure ot the interior ot such building to the elementa, Id1 cutting or removing or permitting the cutting and rn- moval o( any trees or timber on the MorigaRed Property, (e) removing or eYChanging any tangihle pen+onal pwperty which is ~~.~H ot the Mortgaged Prv~~erty, or It? entering into or modifying any leases of the Morigaged Pro~~erty. 7. 7'o cneintain the Mortgaged Pro~~erty in guod condition and repair, inctuding but not limited to the m~king ot such re~uiirs as Mortgagee may from time to time determine to he necessary (or the preservatiun o( the Mortgaged Yroperty and to not commit or {~ermit any waste thereof. 8. To comply with all laws, ordinances, regulations, covenants. ~•onditions and restrictions a((erting the MortRaged Pro{ierty, and not to sufter or pertnit any violation thereof. 9. I( 1Nortgagor (ails lo ~?ay any claim, lien or encumbrance which is su~~erior to this Alort~aRe, or when due, any lax or asseaament or insurance prnmium, or to keep the l~tortgaged Property in repair, or siwll commit or permit waste, or it there be commenced any action or proi~eeding a(fecting the Mortgaged Property or the title thereto, or the intereat of Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then Mortgagee, al ita option, may ~y said claim, lien, eneumbranrn, ta:, assessment or premium, with right ot subrogation thereunder, may make auch repaira and take such steps as it deems advisable to prevent or cure such waste, and mny : appear in any such action or pra~eeding and retain counsel therein, and take such action therein as Mortgagee deems ad- ~•isable, and tor any o( such pur~~ses Mortg.~gee may advam-e auch sums ot money, including all costs, reaspn:~ble attorney's - fees and other items ot e:pense as it deems necessary. I?lortgaqee stwll be the sole judge ot the legality, validity and priority ot any such claim, lien, encumbrance, laY, assexsment and prnmium and of the amount necessary to be ~id in satisfaction ~ thereot. Mortg~gee shall not be held accrountable for any delay in m~king any such payment, which delny may result in an additional interest, c•osts, cFwr es, ex ~ y• g penses or othemise. 10. Mortgagor will pay to MortR.iRee, immediately and without demand, all sums of money advAnird by MortgaRee ; to protect the security hereof pursuant to this Morigage, including all costs, masonable attorney's fees :~nd other items ot ` expense, together with intereat on each such advancement at the highest lawtu) rate of interest per annum in the State ot ~ Florida, and all such sums and intereat thereon shall F?e secured hereby. ~ z ~ 11. All sums o( money t~•ured herehy shall be {u~yable without any relief whatever trom ~ny ~~aluation or appr.iise- ~ ment laws. ~ 12. If de(~ult be maide in {~ayment of ~ny instalment ot {~rincipal or intetest of the Note or an* part thereot when ~ due, or in payment, v?hen due, or any uther sum secured hereby, or in per[ormance of any of Mortgagor'a obligations, coven- ~ ants or aqreements hemunder, al) ot the indebtednexs secured hereby shall become and be immediately due and payable at the ~ option of A+lortgagee, without notic-e or demand which are hereby e:pressly waived, in which event Mortgagee rnay avail itsel( ot all riqhts and remedies, at law or in equity, and this Mortgage rr~y be ~orecloeed with all tights and remediesaltorded bY ~ tha laws of Florida and Mortgagor shall pay all costs, charges and ~~Gnsea thereot, including a reasonable attocney's (ee. • ~ i~cluding HIl such costs, expenses and attorney'a fees tor any retrial, rehearing or appeata. The indebtedness secured hereby ~ shaU bear interest at the highest lawtul rate of interest per a• num in the State of Fiorida trom and atter the date of any ~ such default ot Mortgagor. If the Note providee for instalment payments, the Mortgagee may, at its option, collect a late ~ charge not to ezceed two cents for each one dollar not ~~id to the Mortgagee when due, to rnimburse the Mortgagee for ~ ezpenses in collecting and servicing such inslalment payments. 13. If default be made in payment, when due, of any indebtedness sec-ured hernby, or in performance of any of Mortgagor'a obligations, rnvenants or aKreement hereunder: = ~ (a) Mortgagee is authorized at any time, without noti~e, in its sole dixretion to enter upon and take ~wsses.4ion of the Mortg~gecl Property or any part thereof, to pertorm any acts Mortgaqee deems neceasary or proper to consen~e the security and to collect and rereive all rents, issues and profits thereo(, including those past due as well ~s those acrruinR x therea(ter: and • - Ib) Mortgagee ahall be entitled, as a matter o( strict right, without notice and e:parte, and without regard to ihe ~ - vs~lue or occupancy of the serurity, or the solvency of blortgagor, or the adequacy of the Mortgaged Properiy aa security for " - the Note, to have a rnceiver ap{~ointed to enter upon and take pos.9eesion of lhe Mortqaged Pmperty, colleet the rnnta and . - pm(its there(rom and apply ihe aame as the court may direct, such receiver to have all the righta and powera permitted ; under the laws ot Florida. In either auch case. Morigagee or the receiver may also take ~wssession of, and tor these purpoaes use, any and ail <-< personal property which is a part o( the Mortgaged Property and used by Mortgagor in the rental or leasing thereot or any part lhereo(. The e:pense (including receiver's feea, couneel feea, costa and agent'e compensation) incurred pursuant to the powera herein contained shall be secured hereby. hlortgagee ahall (atter payment ot all costa and ezpenaea incurrecf) .3 • 5~ -2- p ~ . 30~K~:y QACE 8~ ~ :~o . ~ - - C " _ . _ _ Yl',L~' 1"r' ~ d ~_ra' / s . . ~ _ . _ " -2~"i~.~"