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HomeMy WebLinkAbout0828 : , . t13`~ „ , . niruunt to puy such ~•h:~rges when du~ ahull t~e Fxiid by Mortgagor to Mor/gagee oo deniarid I1, by reasun o( u~y detc~ull by Atorigngur unde~ any pro~•ision of this Mortgage, Mortgugee declares all sunu secured her~by to be c~ue And {k~yable, Alortg+~gee may then apply Hny funds in e+?id account ugainst the entire indebtedneas secured hereby. The en(orceability ot the covenanta ~eluting to tnxes, aseeuumenb and ir~surance premiuma herein otherwise provided ahall not be atfected except insote~ ae thooe obiigationa have been inet by complianoe with this paragraph. Morlgagee may trom time W time at i/s option wai~~e. and a[ter uny auch waiver reinstate, any or ull provisions he[eof requiting such depaaitar by nolice to Morigxgor in writing. While any such waiver.is in e(tect, Mortgagor ahall pay ta:es, e8seas~nenta and insurance premiume ua herein elrewhere pcovided. 4. To promptly pay all taxes and ussessmenfa as$exsed or levied under and by virtue ot any state, federal, or municipal law or regulution hereatter paseed, against Mortgugee u~wn this Mortgage or the debt hereby secvred, or upon its iatetest under this Mortgage. pmvided however, that ihe total amount so paid tor any such taxea {wrauant to thia par.~graph togeth- er with the intetest payable on aaid indebledness shaU not exceed the highest lawtul rate ot intetest in Florida and provided [urther that in the e~~e~t ot the paawge ot any such law or regulation im{waing a ta: or asaesssment ag~inat 1~lortg~gee up- on thia Mortgage or the debt aecured heceby, that the ent~re indebledneas aecured by this Mortgage ahall thereupon t+e- rnme immediately due and peyable at the option ot Mortgagee. . 5. To keep the Morigaged Property insured agaiost lo~ o~ dumage by fire, and all periis insured ugainst by an e:- tended coverage• endoraement, and such other risks and perila ~ Mortgagee in its discretion may require. The policy or polici~ of wch i~?surance shall be in the form in general use fmm time to time in the locality in which the Mortgaged Properiy ia situated, ahall be in such amount as Mortgagee may reasonably require, shall be iasued by a company or companiea approved by Mortgagee, and ahall contain a st~ndard morigagee clause with lo~s ~~ayable to Mortgagee. When- ~ ever required by Mortgagee, such policies, ahall be delivered immediately to and held by Mortgagee. Any and all amounts received ~y Mottgagee under any of such policiea may be applied by Mortgagee on the indebtedness ~ecund hereby in such manner as Mortgagee mxy, in its aole discretion, elect or, at the option of Mortgagee, the entire aniount so rece~ved or any part thereo( may be released. Neither the apptication nor the relense of any such amounta sha11 cure or waive any default. Upon e:erciee of the power of sale given in this Mortgage or bther acquisition ot the MortgaRed Property or nny part there- . ot by Morl6agee, such policiea ahall t~ecome the absolute property oi Mortgagee. 6. To (irst obtain the writie~ consent of Mortgagee, such consent to be qranted or withheld a~t lhe Aole diacretion of Mortgagee, betore (a) removing or demoliahirig any building now or hereatter erected on the premises, (b) altering !he arrangement, design or stntctural character thereof. (c) making any repaira which involve the removal bf structural parts or the e:poeure o! the interior o( auch building to the elementa, (d) cutting or removing or permitting the rutting and re- moval of any trees or timber on the Mortgaged Property, (e) removing or exchanging Any tangible persooal pmperty which is pnrt of the Mortgaged Property, or entering into or modifyinR any leases of the Mortgaged Property. - 7. To maintain the Mortgaged Property in good condition and repair, including but not limited to /he mxking of such repairs as Mortgagee may trom time to time delermine to be neces~ary tor the preservation of the Mortgaged Property and to not commit or permit any waate thereo(. 8. To comply with all laws, ordiru~nces, eegulations, covenants, c-ondilion,g and restrictions a((ecting the Morigaged Property, and not to suffer or ~ermit any violation thereof. 9. ~It MortgaRor fails to pay any claim, lien or encumbranre which is su~~erior to this Mortgage, or w•hen due, any tax _ or assesament or insarance premium, or to keep the Mortgagcd Property in repair, or shall commit or permit waste, or if there be rnmmenced any aetion or proceeding ~ffecting the Mortgaged Property or the titie ihereto, or the interest of Mortgagee therein~ including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then Mortgagee, at its option, may pay said claim, lien, encumbrance, ta:, asserssment or premium, with right of subroqation thereunder, msiy make such repaits and take such steps as it deems advisable to prevent or curn such waste, and may appear in any such action or proceeding and retain counsel tfiemin, and take such action thernin as Mortgagee deems :~d- visable. and tor any of such pur{wses Mortgagee may advance such sums of money, including all cosis, reasonable attorney's ,fees and other items ot e:penae as it deems necessary. Mortgagee shall be the sole judge o[ the legality, validity and priority ot any such claim, 1'een, encumbrance, tax, assessment and prnmium and of the amount neces9ary to be paid in satisfaction thereo(. Mortgagee shall not be held accountahle for any delay in making any such payment, which delay may ~resulC in any additional interest, costs, charges, e:penses or otherwise. ! 10. Mortgagor will pay to Mortgaqee, immediately and without demand, all sums of money advam~ed by Mortgagee j to protect t6e security hereot pursuant to this Mortgage, including all costs, reasonable attorney's fees and other items of ~ expense, together with interest on each such advancement at the highest lawful rate of interest per annum in the State ot j Florida, and all such sums and interest thereon shall t?e secured hereby. , ~ 11. All sums ot money secured heret?y xhall F?e ~~ayabla without any reliet whatever (rom ~ny ~~aluation or appraise- ment laws_ ~ 12. If default 6e made in payment of :~ny instatment ot princi~x~l or interest o( the Note or any part ihereof when due, or in payment, when due, or any other sum secured hereby, or in pertormance o( any of Mortgagoi s obligations, coven- ants or agreements hereunder, all of the indebtedness secured hereby shall become and be immediately due and payable at the option of Mbrtgagee, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itsel( o( al) rights and remedies, at law or in equity, and this Mortgage may be foreclosed with all rights and rnmedies aftorded by the laws of Florida and Mortgagor shall pay nll costs, charges and expenses thereof, including a musonable attorney's fee, ~ including all such costa, expenses and attorney's fees tor any retrial, rehearing or appeals. The indebtedness secured hereby shal) bear interest at the highest lawtul rate of interest per annum in the State ot Florida from and a(ter the date of any ~ such default of Mortgagor. It the Note provides for instalment payments, the I~tortgagee may, at its option, collect a late charge not to ezceed two cenls for each one dollar not ~~aid to the Mortgagee when due, to reimburse !he Mortgagee (or e:penses in collecting and servicing such instalment payments. ~ 13. It default t?e made in payment, when due, of any indebtedness secured hereby, or in pertormance of any of Mortqaqor's obligations, covenanta or agreement hemunder: ~ (a) Mortgagee is authorized at any time, without notice, in its sole discretion to enter npon and take possession of ~ the Mortgaged Properiy or any part thereof, to pertorm any acts Mortgagee deems necessary or proper to consene the ~ security and to collect and receive s~ll rents, issaes and pro(its thereof, including those past due as well as those accruing ~ theresfter, and ~ Ib) Mortgagee shall be entiNed, as a_ matter of atrict right, without notice and ezparte, and without regard to the ~ value or occupancy of the secvrity, qr the solvency o( Mortgagor, or the adequacy of the Mortgaged PropeHy aa security (or : the Note, to have a receiver appoinfed to enter upon and take ~ion of the Mortgaged Property, coUect the renta and ~ profits t6erefrom and apply the aame as the court may direct, auch receiver to F~ave all the righte and powera permitted s under the laws of Florida. ~ In either such case, Mortgagee or the receiver may also take possession o(, and (or these purposea use, any and all ~ personal property which ia a part of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or any part thereof. The e:pense (including rereiver's fee.s, counsel fees, costs and agent's compensation) incurred pursuant ~ to the powers herein contained shall be secured hereby. Mortgagee ahall (after payment of atl costa and e:penses incurred) ~ ~ -2- 0 R r `I ~ socY e~Ue,~ ~ar,~ 827 ~ . ~ ~ - . . ~ _ _ - - - - _ _ 3. s ~ ~ ~ ~.k x~.-.Y 4i'Sa` , Ir ~~.,~,a°~°e,~ , y.. ~ _ . . _ _ .