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Home My WebLink About0824 t . . . q . t ~ :~~~~unt to puy auch chargea when due shaU t,e puid by Mortgt~gor to 11'lortgugre on demand. If, by reuson ot,:~ny delault by Mortgagor unde~ any pwvision o( this Mortgage, Mortgagee declare~s all sums secured hereby to be due a~d {wyable, Mortgagee may then apply any tu~ds i~ aaid account ngairut the entire iodebted~ess ae~ured hereby. The entorceability of the covenan4 rela?ing to ta:ea. nsseosmenb and insurunce premiums heroin otherwise provided shall not be atfected except ~ insotar as those obligationa have 1~een met by compliance with this paragraph. Mortgagee may trom time to time at its option waive. and s(ter any suc6 waiver reinstate, a~y or all proviaions hereof requirina auch deposita, by notice to Mortgagor in wriiin6. While aay such waiver is in e(tert, Mortgagor shall pey tazea, asseeamerta and insurance premiums t~a herein ebewhere pmvided. To promptly pay all taxes and ~seessments Aasessed or levied under nnd by virtue of ~ny eWte, tederal, or municipal law or regulation hereatter Naased, againnt Mortgagee upon this MoNgAge or the debt hereby secured. or upon its intereat under this Mortgage. provided however. that t}~e totai amount so paid [or any such tnxes purauant to t6is paragraph toBet6- ~ er with the interest {wyable on eaid indebtednees ehall not excced the highest law(ul rete ot interest in Ftorida and provided } further lbat in the even! ot the paaexge di uny sucl~ law or regulation imposing a ta: or asse~ment against Mortgagee up- on this Mortgnge or the debt serured hemby, that the entire indebtedneas secured by this~Morigage shall thereu~~on be- come immediately due and psyable at the option of Mortgagee. b. To keep the Mortgaged Pmperty insured against loas or duraage by fire, and all perils inaured agaioat by an ex- tended co~-erage endorsement, and such otber riaks and perils us Mortgagee in its diacretion may require. The policy or policies of auch inanrance stiall be in the form in general use from time to time in the locality in which the Mortgaged Property is situated. ahall be in auch amount aa Mortgugee rnay reasonably requiee, ahall be issued by a company or rnmpaniea approved by Mortgagee, and shall rnntain a standard inortgngee clause with losa payable to Mortgagee. When- ever required by Mortgagee, such policiea, shall be delivered immediateiy to and held by Mortgagee. Any and all tunounts received by Mortgagee under any of auch policiea may be applied by Moctgagee on the indebtednees secured hereby in such manner as Mortgagee may, in its eole diacretion, elect or. at the option oi Mortgagee, the entire amount so received or a~y part thereoi may be releaeed. Neither fhe application nor the releaee o( any.such amounta ahall cure or waive any ~detault. Upon e:ereise of the power ot sate given in this Mortgage or other acquisition of the Mortgage~ Property or uny part there- ot by Mortgagee. such policies shall become the abeolute property ot Mortgagee. ~ 6. To (irat obtain the written consent of Mortgagee, such consent to be grnnled or withheld at the sole discretion ot I?'Iortgagee, betorc (a) removing or demolishing any buifding now or hernafter erected on the premises, ~(b) altering the arrangement. design or structural character thereof, (c) making any repai~s which invohre the removal of atructural parts or !'he e:paaure ot the interior ot such building to the elements, {d) cutting or removins or permitting the cutting and re- moval of any trees or timber on the Mortgaged Property, (e) eemoving or excMnging any tangible peraonal pwperty which ~ is part ot the Mortgaged Property, or (f) enlering into or modifying any leases of the Murtgaged Property. 7_ To maintain the Mortgaged Property in good condition and repair, including hut not limited to the making of such. repairs aa Mortgagee may trom time to time deter~uine to be necessary !or the preservation ot the 1ltortgaged Property and - to not commit or permit any waste thereoL 8. To comply'w~th aU laws, ordinances, regulations, coverwnts, conditions and reatrictions af(ecting the Mortgaged Property~ and not to suffer or permit any violation thereof. 9. If Mortgagor fails to pay any claim, lien or encumbrxn~^e which is su~~erior 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 proceeding af[ecting the Mortgaged Property or the title thereto. or the interest of . Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization pra-eedings, then Mortgagee~ at ita option, may pay said claim, lien, encumbrance, tax, nssessment or premium, with right of subrogation therennder~ tnay make such repairs and take such steps as it deems advisable to prevent or cure such waste, and may appear in any such action or proceeding and retain counsel .herein, and take such action therein as Mortgagee deems ad- ~ visable, and tor any of such purposea Mortgagee may advance suc6 suma ot money, including all costs, reasonable attorney's fees and other items ot e:pense as it deems necessary. Mortgagee shall be the sole judge of the legality, validity and priority of any such claim, lien, encambrance, tax, a8sesament and premium and oi t6e amount necessary to be paid in satistaction ~ thereot_ Mortgagee shall not be held accountable tor any delay in making any s~ch payment, which delay may result in ! any additional interest, costs, charges, expenses or otherwise_ ~ 10_ Morigagor wili pay to Mortgagee, immediately and without demand, all suma of money ad~anced by Mortgagee k to protect the security hereot pursuant to this Mortgage, including all costs, reasonable attorney's fees and other items ot expense, together with interest on each such advancement at_ the highest lawful rate of interest per annum in the State o( Florida, and all such suma and intereat theteon xhall be secund hereby. ~ 11. All sums o( money secured hereby shall be payable without any relie[ whatever fmm ~ny ~~aluation or appnise- ment laws. ~ 12. If detault t?e made in payment of any instalment of principal or interest of. the Note or any part thereot when ' due, or in payment, when due, or any other sum secured hereby, or in pertormance o( any of Mortgagor's obligations, coven- ~ ants or agreements hernunder, all of the indebtedness eecured 6ereby s6at1 berome and be immediately due and payable at the ~ ~ option of Mortgagee, without notice or demand which are hereby e:pressly waived, in whech event Mortgagee may a~•ail itself ' of all rights and mmedies, at law or in equity, and this Mortgage may be torecloeed with all righta and remedies aftorded by i g g pay rg penses thereof, including a reasonable nttom the laws of Florida and Mort a or shall aU costs, cha ex and ex eY B t~• ~ including all such co~ta, e:penses and attorney's fees tor any retrial, rehearing or appeals. The indebtedness aecured hereby ~ shall bear interesi at the highest lawtul rate of interest per annum in the State of Florida from and aFter the date oi any sach default of Mortgagor. I[ the Note provides tor instalment payments, the Mortgagee may, at its option, collect a late charge not to e:ceed two centa for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee for ezpenses in collecting and servicing such instalment payments" ? ~ 13. If de(ault be made in payment, when due, of any indebtedness secured hereby, or in performance of any of i ~ Mortgagor's obligationa, covenants or agreement hereunder_ (a) Mottgagee is authorized at any time, without notice, in its aole discretion to enter upon and take posaession of ~ _ the Mortgaged Property or any part thereof, to perform any acts Mortgagee deems neceasary or proper to conserve the aecurity and to collect and receive all rnnts, issues and profits thereof, including those past due as well ns those acrruing ; ~ thereafter: and . ~ ~ ( rtgagee shall be entitled, as a matter of atrict right, without not~ce and e:parte, and without regard to the ~ b) Mo ~ value or ocrupancy of the aecurity, or the solvency of Mortgagor, or the adequacy of the Mortgaged Properly as security for ~ the Note, to have a recei~•er appointed to enter upon and take po~sesaion ot the Morigaged Property, collect the renta and ~ profita therefrom and apply the same as the court may direct, such receiver to have all the righta and powers permitted ~ ~ under the laws o[ Florida. ; ~ ~ _ In either such case, Mortgagee or the receiver may also take possession ot, and (or these purposea use, any and all ~ persona) property which is a part o[ the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or any part thereof. The e:penae (including receiver e fee~, counsel teea, costa and agent'e compensation) incurred puisuant~ ~ to the poweis hetein contained ahall be aecured heteby. Mortgagee ahall (after payment ot all coets and e:pensea incnrred) ~ 51 ~ ~ -2- ~°oow ~a3 aar;~ ~ ~ ~ ~ ~ . - - _ ~ _ _ _ ~ } ~ A r _ ~ _ ~