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HomeMy WebLinkAbout0051 . t~ ~ ~l1' ?1' f ~i~• ~~p ~ M(,' ^ r~ •4`'4 , ~ l ~ ~ ~ ~ , _ . ~ . . ~ . .~iY•uw?t to {>ny such chargrs when due slwll 1?e ~?aid by Mortg:igur to Morigagee oe dem+~nd: If, by reaaon o( "any de(.iult - by Mortgago~ under any proviyion ot this Moriguge, Nlortgagee declarea all suau a~curad hereh~r to he due and payuble, Mortgt~gee may then apply any tunds in said account against the entiee indebled~e~s secuied hereby. The en(orceubility o( th~+ ~wvenanta relating to tazea, asseamenb and insurance premiums herein otherwise provided ahaU ~ot be a((ecled except inwter as those oWigations have been met by compliunce with thia paragrapb. Mortgagee muy from time to time at ita option waive, and atter any such waiver reitut~le, any ur ull provisions hereof requirir?a wch depoaib, by notice to MoHgagor in wrilinR. While any such waiver is in eftect. Morl~aaor shail pay ta:es, aaseasmenta and inaurance premiums as herein elsewhare provided. 4. To ptomptly pa,y all taxes and uasessmenta axseaseci or levied under and by virtue ot uny etate, tederal, or municipnl law or regulation bereattes passed, aBainst Mortgngee upon thia Mortgx~e o~ the debt hereby aea.~ured, or upon its interest under this Mortgnge, pcovided however, that t6e total. amount so paid [or any such taxes pursuant to this pamgraph togeth- er with the intereat paynble on said indebtedneas shall not exceed the highest lawful rate ot interest in Floride and provided further that in the event of the paasaBe of any suc6 law or regulalion imposio8 a ta: or asse~sment ugainst Morigagee up• on thia Mortgage or the debt secured hereby, that the entirn indebtednean eecucrd by thia Mortgage ahall thereupon he- .come immediately due and payable at the option ot Mortgagee. 5. To keep the Mortgaged Pwpedy insured a8ainst loas or dxmage by fire. a~d all perils insured ag+iinat by an ex• tended coveraBe endorsement, and such ather risks and . perila as MortBagee in its discretion may require. The policy or policies ot such insurance shall be in t6e torm in ~eneral use from time to time in the locality in which the Mortguged Pro{ierty is situated, slwll be in such amount aa Mortgagee may ~onabiy reyuire, shall be issued by a company or companiea approved t~r Morigagee, and ahall contain a atandacd mortgagee clause with loes payable to Mortga8ee. When- ever required by Mortgagee, auch policiea, shall be delivered iminediately to and held by Mortgagee. Any and all amounta received by Mortgagee under any ot ~uch policies may be applied by Mortgagee.on the indebtedness aecured hereby in such ' manner as Mortgagee may, in its sole diecretion, elect or, at the option ot Mortgagee, the entire amount eo received or any part thereof may be releaaed. Neither the application nor the relesee ot any such amounta shall cure or waive any default. Cs'pon e:erciae ot the power ot sale given in this Mortgage or other acquisition of the Mortgaged Property or any part there- of by Mortgagee, such policies shall become the a6eolute property ot Mortgagee. . 6. To firat obtain the written conaent ot Mortgpgee, such consent to be graoted or withheld at the sole discretion o( j Mortgagee, before (a) removing or demoliahing any twilding now or hereafter erected on the premises. (b) 'aitering the arrangement, design or structural character thereof, (c) making any repaire which involve the removal of sttuctural parta or the e:posure of the interior of such buildinR to~lhe elements, (d) cutting or removing or permitting the cutting and re- mo~•a) ot any treea or timber on the Mortgaged Property, (e) removing or e:changing any tangible pereonal propeity which ia ~irt of the Mortgaged Property, or (t) enlering into or modi(ying any leases of the Mortgaged Property. 7. To maintain the Moctgaged Property in good condition and repair, including hut not limited to the making of such rcpairs as Mortgagee may from time to time determine to be necc~ry for the prneervation of the Mortgaged Property and to nat comroit~or pk.._: ` any waste thereot. 8. To comply with ull laws, ordinances, regulations, covenants, conditions and restrietiona affecting the Mortgaged Property, and not to s»fter or permit any violation thereof. - 9. If Mortgagor tails to pay any claim, lien or encumbrance which is superiar to this Mortgage, or when due, any tax or assessment or insurance premium, or to keep the Mortgaged Property in repair, or shall commit or permit waste, or if there be commenced any action or pnx~eeding a(fecting the Mortgaged Property or the title thereto, or the interest o( _ 11'(ortgagee therein, including, but not limited to, eminent domain and bankruptcy or reoreanization proceedings, then Mortgagee, at ita option, may pay said claim, lien, encumbrance, tax, assessment or premium; with right of subrogation thereunder, may make auc6 repairs and take such steps as it deems advisable to prevent or cure such waste, and mav appear in any such action or proi.~eeding and retain counsel t~erein. and take suc6 action therein as Mortgegee deems ad- visable, nnd (or any of such purposes Mortgagee may ad~~ance such sums o( money, including all costs, reasonable attorney's ~ fe~ and o;her items of e:pense as it deems nec~~ry. Mortgagee shall be the sole judge ot the legality, validity and priority ot any such claim, lien, encumbrance, ta:, assesament and premium and of the amount neceseary to be paid in satisfaction thereof. Mortgagee shall not be he?d accountable tor any delay in making nny such ~ayment, which delay may result in i any addilional ir.terest, costs, chargea, e:penses or otherwise. 10. Mortgagor will pay to Mortgagee, immediately and without demand, all suma of money advanced by MortgaRee , ~ ~ to.ptotect the eecurity hereof pursunnt to this Mortgage, including all costs, reaeonable attorney's fees and other items ot ~ - ezpense, together with interest on each such advancement at the highest lawtul rate of in{erest per annum in the State o( ~ Florida, and all such sums and interest thereon shall F?e secured hereby. r ~ 11. All auma of money secured hereby shall F?e payable without any reliet whatever from any ~~aluation or appraise- - ment laws. 1- 12. If i~tai}lt,be uWde,ia paytnent o( any instalment of prinrips~l or interest o( the Note or any part thereof when ~ due, or in payment, when due, ur any other sum secured hereby~ or in performance ot any o[ Mortgagor s obligations, rnven- F ants or agreements hereunder, all of the indebtednes3 aecvred hereby shall become and _be immediately due and payable at the option ot Mortgagee, without notieE ot demand which are heteby ezptessly waived, in which event Mortgagee may avail itselF of all righte and remedies, at law or in equity, and t6ia Mortgage may be (orecloeed with ell rights and remediea afforded by the law~s of Florida and Mortgagor ehall pay all costa, charges and e:penses thereot, including a reasonable attorney's fee, including all such coela, e:penses and attorney's fees tor any retrial, rehearing or appeals. The indebtednese eecured hemby aha11 bear interest at the highest lawtul .rate of interest per annum in the State of Florida [rom and atter the date of any such detault of Mortgagor. If the Note providea for instalment payments, the Mortgagee may, at its option, collect a late ~ charge not to exceed two cents for each one dollar not paid to the ;Vlortgagee when due, to reimburae the'Mortgagee tor expensea in collecting and servicing such instalment payments. 13. I( de(ault be made in pHyment, when due, of any indefitednesa eecured hereby,_ or in pertormance of any of Mortgagur'a obligations, covenanta or agreement hereunder: ~ (a) Mortgagee is authorized at any time, without notice, in its eole discretion to enter upon and ts~ke possesaion of . the Mortgaged Property or any part thereo(, to perform any acts Mortgagee deems neceasary or proper to conserve the ~ security and to collect and receive all rents, isaues and profits thereof, inriuding those past due as.well as thoae accruing therea(ter: and s (b) Mortgagee shatl be entitled, as a matter o( strict right, witlwut notice and e:parte, and without regard to the ; ~ ~ vs~lue or occc~pancy ot the secvrity, or the solvency of ;1lortgagor, or the adequacy o( the Mortgaged Property aa security tor the Note, lo have a receiver appointed to enter u{wn and take {~saession ot the Mortgaged Property, collect the renta and profita therefrom and apply the same as the court may direct, euch receiver to have all the righta and powere permitted - under the laws o[ Florida. In either such case, Mottgagee or the receiver may alxo take po~eer~sion of, and for theae purposes use, any and all personal property which is a part of the Mortgaged Property and used by Mortgagor in the rentsl or leasing thereof or _ any part thereof. The e:pense, (including receivera feea, counsel fees, costs and agent's compensation) incurred pursuant ; to the powets herein contained shali be secured hereby. Mortqagee ehall (after payment of aq coste and e:penees incurred) ; ~ ~ -2• ~ ~ ~ : =J~~9~ ~ 51 ~ _ _ ~ ~ _ Y P ~~SL~ ~ ~ ~ 9''~ ~ f ~ ~ } . . . - ~ 3r+~ . +i ~,e. ~ < . . a .