The URL can be used to link to this page

Home My WebLink About1804 ~ , ' ~ ~ ~ account to txry such charges when due shall tie twid by Murtg:+gur to Mortgagee un dra+..nd I'~. by reawlt Sf 1ny :fe(:wlt by Mortgagor under any t?rovisiun of this Mortgage, Mortgagee des L+res all sums a~erured hereby to he due and p:+yuble, Mortgagee may then apply any lands in said account ugainet the entire indeMedr+es secured hereby. The enforceability of the rnvenants relating to l:+xea, :uwearrt+ents and itsurance premiuts herein otber.ntse pra»ided shall not lie affected except insofar c?s thous obligations have been met by complwnc~e with this paraanpiz I1lortgaRcte may from time to lime at its option waive, and after any such waiver reinstate, any or all tx+ovwons bereol requiriryt such deposits, by notice to Atortg:+gor in writing. While any such waiver u in effect, 1ltortgagor shall pay taxes, assessalen4 and itisuran+•e premiums us herein elsewhere provided. 4. To promptly pay all taxes and :isseusrnrnts assessed or levied under and by .+rtue of any state, leder.+l, or municitwl law or regulation hereafter passed, agaiml Mortgagee ulx?n this Mortgage or the deM hereby uevred, or upon its interest under this Mortgage, provided however, that the total amount so paid for any such rases purxtiant to this paragraph togeth- er with the interest tx+yable on said indebtedne:s shall not a:reed the highest lawful rite o1 interest in Florida and provided further that in the event of the passage of any such law or regulation imposing a tax or assessment against Mortgagee up- un this Mortgage or the debt secured hereby, that the entire indeMedness secured by thes Mortgage shall thereutwn he- c•ume immediately due and txiyable al the option of Mortgagee- 5. ~To keep the Mortgaged Property insured against lase or damage by tire, and all penis insured against by :in ex- tended rnverige endorsement, and such others risks and perils as !Mortgagee is its discretion may tegwre. The policy or tolicies of such insun+nce shall be in the form in general use from time to time in the loraht~ in which the Mortgaged Pmtierty is situated, shall he in such amount as iLtortgagee may reasoriaMy require, shall be Issued by a company or rnmt+:+nies apt+roved by Mortgagee, and shall contain a staruiard mortgagee clause with loos payable to Mortgagee. Whrn_ ever required by Mortgagee, such tiolicie~, shall be deli~~ered immediately to and hdd by Mortgager_ Any and all amounts , received by Mortgagee under any of such palicies may t+e applied by Mortgagee on the iiidebtednea~- secured hereby in su.h manner as Mortgagee may, in its sole discretion, elect or, at the option o1 ilorttCateee, the entire amount so received or any twit thereo[ may he released. Neither the application nor the release of any such amounts shall cure or waive any default. Upon exercise of the tiower of sale given in this Mortgage or other acquisition of the Mortgaged Property or any p.•+rt there- - of by Mortgagee, such policies shall herntne the ahaalute property of 1lortgaRer. 6. To first obtain the written consent of Mortgagee, such consent to be granted or withheld at the sole disc•retiun of Mortgagee, before (a) removing or demolishing any building now or hereafter eret-ted on the premises. tb? altering the arrangement, design or structural character thereof, Ic1 making any repairs rchic6 invdve the remo.a) of structural tk+rts or the extiosure of the interior of such building to the elements, id) cutting or removing or permitting the cutting and re- moval of any trees or timber on the Mortgaged Protieriy, let removir+t; or a:chang+rite any tangible personal property which is part of the Mortgaged Protxrty, or (f) entering into or modifying any leases of the Mort/aged Property" To maintain the Mortgaged Proterty in good condition and repair. including but not limited to the making of such retuiirs as Mortgagee may from time to time determine to t+e necescarr far the hrenenation of the Mortgaged Property and to not rnmmit or tiermit any waste thereof. R. To comply with all laws, ordinances, regukdiuns, rnvenants. a.nd+tic.nc and restrirtioru affar•tinq the \tortgaRcd Proterty, and not to suffer or t?ermit any violation thereof. 9. If Mortgagor fails to t>:+y am•-claim, lien or encumbrame whia-h is ;+ipenor to th~~ ~lortAaf;e, ur when due, am- tax ' or assessment or insurance premium, or to keep the Mortgaged Property m repair. or sl+:ill rummit or permit waste, or if there he commenced any action or praeedinq affecting the Mortt;agcd Property or the title thereto, or the intemst of Mortgagee therein, including, but not limited to, eminent dom:+in and bankruptcy or reorRaniiition proceedings, then Mortgagee, Tt its option, may twy said claim, lien, encumbrance, ta:. asse~•sment or premium. with right ~f subrogation - thereunder, may make such retwirs and take such steps as it deems ad~is:+ble to pre+ent or cure such waste, and may aptiear in any such action or proceeding and retain counsel therein, and take such ac•tiun therein as ~tortRattee deems :+d- visuble, and for any of such purtwses Mortgagee may advance such sums of awney, ina-I+idir+R alt rents, reasur+:ible attorney's fees and other items of extiense as it deems necessan. Mortgagee shall t+e the sole judt[e of the legality, validity and priority of any such claim, lien, encumbrance, tax, assessment and premium and of the amount n~•ces.;ary to be paid in satisfaction thereof. Mortgagee shall not he held accountable for any delay' in making any such tw>mrnt_ which delay may result in any additional interest, costs, charges, expenses or otherwise. If 10. Mortg:gor will pay to Aortgagee, immediately and without demand_ all ~ of reoney adxan+rd by 1loragagee to protect the security hereof pursuant to this Mortgage, including all costs. reason-+Me attorney's tees and other items of ext+ense, together with interest on each such advancement at the highest lawiuf rate of interest per annum in the State of Florida, and all such sums and interest thereon shall he sec-ur+ed hereby. II. All sums of money secured hereby shall tie {+:+yahle without ar» relief whatever from any ~aluatiun or appraise- ment laws. ~ 12. If default tie made in t>i+yment of any instalment of pnrx-ip:il or interest of the Note or any part thereof when " due, or in p:+yment, when due, or any other-sum secured hereby, or in performance of any of Mortgagors obligations, coven- ants or agreements hereunder. all of the indebtedness secured hereto shall lceevaie and he immediately due and payable at the { option of ;lortgagee, without notice or demand which are hereby exprecdy wanYd. iu which event Mortgagee may avail itself of all rights and remedies, at law or in equity, and this 1ltortgage may be forecios~d with all rights and remedies afforded by R pay all costs, cha pen_aes thereof, irirludirg[ a rrasorwble attorneys tee, + the laws of Florida and i\tortga or shall rEes and- ex including all such casts, ex{tenses and attorney's fees (or any retrial. rel+earir+g or ap~peal4. The indebtedness secured hereby shall bear interest at the highest lawful r.+te of interest her annum in the State of Elands from and after the date of am• such default of Mortgagor. If the Note hmvides for instalment payments. the ~tortgaRee tri:iy_ at its option, collect a late ch:+rqe not to exceed two cents for cac•h one dollar not tkiid to the \lortRaRee when due. to reimburse the Mortgagee for extenses in collecting and servicing such ins!:+Iment payments 13. If default he made in payment. when due. of am indehtedr+es,4 secured Hereby or in performance of any of ~tortgagor•s obligations, covenants or agreement hereunder: ta) Mortgagee is authorized at any time, without notice. in its Sole disc•retwn to enter upon and take t?orsession of s. the Mortgaged Prot+erty or any part thereof, to perform any acts ~tortRagee deers riere~:in or proper to conserve the security and to collect and receive all rents,, issues and profits thereof, including thane past due well :LC those an•ruinR thereafter: and Ihl Mortgagee shall he entitled, as a matter of strict right, without Holier and extacrte. and without regard to the value or ocrutwncy of the security, or the solvency of lltortgagor. or the adequacy of the Mortgaged Property as security for the Note, to have a receiver aptsointed to enter upon and take Isoscession of the \torttCaged Property, collect the rents and profits therefrom and apply the same as the court may direct, such receiver to have all the rights and twwers permitted under the laws of Florida. - In either such case, Mortgagee or the receiver may also take poissesston of, and for these purpo6es use. any and all tsersana) property which is a part of the ;Mortgaged Property and used bF Mortgagor in the rental or leasing thereof or any part thereat. The ext?ense (including receivei s fees, cauresel tees costs and agent's compensation) incurred pursuant to the powers herein contained shall be secured hereby. :~tartgaRee shat! !after payment of all costs and ezperises incurred) -2- ~ R t `~i 1 .,c ;..._17'99 ~3 - ~;o, ~F