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Home My WebLink About0557 acY~uunt to ~~ay su~•h ~•h~lrg~~ whon due xh+~ll 1~ ~H~id bv Mortgugo~ to Motlguger un demand. if, hy n~uaun ot ufiy dc•h~ult 6y Aiortgugor under t~ny pro~~iaion of this 111ottgiigr, I~fortgagee decl:~rea a!! sums siecured hereby to he due a~nd j?:~yxt~ie, Mortgagee mny ihen apply i~ny funds io said unv?unt i~gainst the e~tire indebtrdneas secured hereby. The ento~ceabili~y of the co~~enants reluting to tu:ea, ~~srceasmenta and inaure?nce premiuma herein olherwise provided xhuU not be a((ected except insu(ur us those ubligatiun$ have t?ewn met by complianre with this puragraph. MortgaRee nu~y from time 1o tinee .it ita uption waive, iind Atter a~y auch wniver teinstxte, any ur aU proviaions hercw( requiring surh deposits, by noti~~e to A1o~tgugor in writing., While any such waiver ia i~ eflect, MoHgagor sludl ptiy tuYea. su?s~~asmenta and insuram~e premiums ; us hemin rl~ewbere NruviJrd. 4. To promptly ~?uy nll tuxess i~nd :i~sca;menta uase~,sed or le~~ied under und by virtue of uny stute, federal, or munici~x~l I:~w or regulntion hernafter {wssed, ugainst Murtgagee u{~on this Mortgage or the debt hereby aecured, or upon its interest under thia MortguKe, pr~ovided however, tlwt the total amount ~ j~aid tor uny such ta~xes Nutssuunt to thia par.iK~aph togrth- er with the interest payat~le o~ suid indeLtednea~ sha1) not exceed the highest law(ul rate o( intereyt in Floridu und provided furihcr ths?t in the e~~ent of the ~w~~ge of uny auch luw or regulation impo~ing n t~+: or uasessment :ig.+inst Mo~tgagee u~~' un this Mort~age or the det~t se~~umd hereby, thnt !he entire indebtedness secured by this Mortg:ige shall lhereu~~on t~e- ~•ume immediutely due and ~xiynble at the option o( Morigagee. 5. To keep the Mortgaged Property insured agt~inst losa or damup~e hy fim, and ull ~~erils insured againsi t~y ae rx- tended cove~ge endoraement, und such other risks and perils aa Morigagee in its discretion miiy.requirn. The {wlicy or policiea ot surh insurunre shall be 'sn the torm in general use trom time to time•i~ lhe IocAlity in whirh the Mortgs~ged Property is situated, ahuU be in such amount as Mortgugee may reason.~bly require, sh~l) t?e isgued by a com~~any or companies approved by Klortg.igee, and shnl) conttiin a stundi~rcl mortgagee clause with loss {~ayah[e to MorlRagee. When- ever required by Murtgagee, such {wlicies, shull be delivered immediately to and held hy Morigagee. Any and nll amounts t nY-eived by Mortgt~gee under .~ny ot such ~~olicies m~y t~e applied by Mortgugee on the indebtedness secured herrby in such # manner ns Mortgagee m~y, in its sole discretion, elect or, at the option ot Mortgagee, the eNire nmount so received ot any ~~rt thereof may he re?eaaed. Neither the npplication nor !he releuse of. nny such amounta sh~ll cure or w~ive nny detault. ? Upon exercise of the powe~ ot sale given in this Mortgage or other ncquisition ot the MoHRnRed Property or s+ny pnrt thern- } ot hy 1liortgagee, such policies ahaii herome the nbsolute property ot A1orlga~ee. ~ 6. To (irst obtain the writlen ~Y,nsent of Mortgaigee, such cor?x~nt to t?e Rr.~nted ur withheld :it the sole discretion of s Mortgaqee, before (H) removing or demolishing any i>uildeng now or hern.~her erec•tecf on the premises, Ib) alterinR ihe ~ arr.~ngement, design or structural character thereof, (c) making any re~~xirs which involve the removal ot structural p:~ns ; or the exposure of the interior o( such building ta the elements, (dl cutting or removing or permitting !he cutting and re- t moval of any trees or timhcr on the Mottgage~d Ytoperty, (e) removing or exchanging .~ny tangible ~~ersona) proj~erty which ' is µ+rt of the ~1lortgaRed Pro~~erty, or (t) entering into or mcxlifying any le:~ses ot the 1~lortgagecl Pmperty i 7. 'I'o maintaiin the MortgaRed Property in good condition and re~~ir, including but not limited to the making o! such te~uiirs as Mortg~gee m~y trom time to time determine to t?e necrssary tor the presen:~tion ot the MortRaged Yroperty .~nd to not commit or ~~ermit any waste lhereof. R. To ~wmply with all laws, ordinances, regulations, co~•enants, ~•onditionc and restriclions n(fecting the l~tort(::~~eci Pm~~erty, :ind not to su(fer or ~~etmit any viol:~tion thereof. 9. It Alortgagor fails to ~k~y :~ny i~leiim, lien or encumbrun~r whii•h is su~>erior to this MortR.+(te, or when due, any tax or assessment or insun~nre prem+um, or to keep the 111ortgaged Property in rct~:~ir, or shull mmmit or {?ermit waste, or it there be commenced at~y action or proi~eeding affecting ihe 111ortgaged Property or the title theceto, or ihe interegt ot MortgaRee therein, including, liut not limited to, eminent dom:iin and b:~nkruptcy or reorgani~~tion proceedings, ihen s Mortgagee, at its option, may pay said ctaim, lien, encumhrance, taz, ~sses.Rment or ~xemium, with right of subro~ation { thereunder, may m:ake surh re~kiirs .~nd take such steps :is it cfeems advi~:~ble to pre~•ent or rurn such ~~aste, and may ~ ap~~ear in any such action or procerdinR :ind retain counsel tfierein, and take such action therein as I~1ort~agee deems ad- - t vis:~ble, and (or any of such purEwses A1ortg.igee may advun~r such sums of money, including atl co.~ts, reasonable attotney's : [ees and othet items of ex~~ense as it deems necessary. Iltortg.igec shall be the sole judge of the legality, validity and priority uf any such cls~im, lien, encumbrance, t.~Y, :issc~sment and premium and of the amount nece_ssary to be paid in satistaction thereof. Mortgagee shall not be held :iccountaMe for any deluy in m.~king any such ~wyment, which delay may msult in any addiUonal intetest, cosls, charges, ex~>enses or otherwise. 10. Mortgagor w•ill pay to MortRaRee, immeciiately and without demand, all sums ot money advan~~ed bg Mort~a~ee s to protect •the security hereo( pursuant to this Martga~e, including ap costs, reasonahle attorney's fees nnd other items o( expense, toRether w•ith internst on each such advancement at the highest Is~wful rate of interest per ~nnum in the State ot F lorid:~, and all auch sums and intemst thereon shall he secured herehy. 11. All sum.g ot money ~•ured herelry shaU be p:w.~hle without any reliP( wh~te~•er from ~ny ~•aluation or appraise- meot laws. 12. I( de(ault 1?e made in pa>ment of :?ny instalment of principa! or interest ot the Note or any ~~rt thereof N•hen due, or in payment, vehen due, or any other sum secured heretry, or in pertorn~ance of any o[ ;itortgagor's obligations, coven- ' ants or agreements hereonder, ull of the endebtedness secured hereb shal) become and he immediatel due and ~ y y payable ac the option of Mortgagee, wilhout nutice or dem~wd which are hereby expressly waived, io which event Mortgagee may aa~ail itsel( ot all rights and remedies, at law or in equity. and this Mortgage may be torerlosed with aU tiqhts and remedies afforded by the laws ot Florida and hlortgagor shall ~~ay ali costs, charges and expenses thereot, includinR a re:isonable attorney's fee, ; ineluding all such costs, expenses and attornA~"s i~es for any retrial, rehearing or appeals. The indebtedness secured hereby + shall bear intemst :~t the highest law(ul rate ot interest per annum in the. State ot Florida from :+nd atter the date of :~ny such de(ault ot Alortgagor. It the Note pro~•ides for instalment payments, the Mortgagee may, at its option, coltect a late charRe not to exreed two ~rnts for each one dollar not p<+id to the MortRaRee when due, to reimhutse the MortqaRee for ex~ier~,ses in colle+•ting .ind servicinR such instalment payments + ; 13. If det:iult 1?e made in payment, when dve, of any indebtedness secttred hereby, or in pertormance of any of ~ Ttor1R:~Ror's obliRations, covenunts or agteement hereunder: (a) ~14ortga~ee is authorized at anv time, without notice, in its sole discretion to enter u{wn and take {~ossession ot the 111ortgaged Pro~~erty or any part thereot, to ~~erform any acts Mortgagee deems necessary o~ proper to ronsen~e the security and to collect and rec~eive all rents, issues and profit_g thereof, including those past due as N~ell ~s those acrruing therea(ter, and Ib1 Mortgagee shall he entitteci, as a matter of strict right, without notice and e:parte, nnd without regard to the value or occupan~y of the secvrity, or the solvency o( I1lortgaqor, or the adequacy of the Mortgaged Property aa security tor the Note, to have a rereiver appointed to enter upon nnd tpke possession of the r'Iortqaged Property, collect the renta and pm(its theretrom and apply the same as the court may direct, such receiver to have all the righta and powers permitted under the laws of I~lorida. ~ In either s~uh case, Mortg:~gee or the receiver may olso take pos.geagion of, and tor these putposes use, any and all ~ persona) ~~roperty which is a part ot the Mortgaged Property and used by 1Vlortgagor in the rental or leasing ihereof or any part ihereot. The expense lincluding receiver'a fees, counsel (eea, costa and agent's compensation) incurred pursuant ~ to the powers herein rontained shall be secured hereby. Mortgagee shall (atter payment of all costs and ezpenses incurred) -2- BOGi ~i~t7 4'~L~ ~~T ~ ' . ~ ~ . ~ ~ ~ - _ ~ ~ ~ ~ ~ . E... Y 4