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Home My WebLink About2152 ~ ~ ~ " . . 4 i' .~t ~~i 4 aci~ount to pay wch charges when due shall be paid by Mortgagor to Mortgagee on demand- lt, by reason of any default by Mortgagor under any provision of this Mortgage, Mortgagee declares all wma secured lierebY to be due and payable, Mortgagee may then apply any funds in said account against the entire indebtedness secured hereby. The enforceabili/y of the covenants relating to taxes, assessments and insurance premiums here othe M ~ ~w ma~lrom ~atoe timeeat its insofar er those obligations have been met by compliance with this parag Ph• b notice to option waive. and after any wch waiver reinstate. any or all provisions hereof requiring wch deposits. Y Mortgagor in writing. While any wch waiver is in e[tect. Morylagor shall pay taxes. asseasn?ents and insurance premiums iu, herein elsewhere Provided- 4. To promptly pay all taxes and assessments assessed or levied under and by virtue of any state. federal. or municipal law or regulation hereafter passed, against Mortgagee upon thin Mortgage or the debt hereby secured, or upon its interest ~ under this Mortgage, provided however. that the total amount so paid for any such taxes pursuant to this paragraph togeth- er with the interest payable on said indebtedness shall not exceed the highest lawful rate of interest in Florida and provided further that in 1~?e event of the passage of any such law or regulation imposing a ts: or assessment against Mortgagee up• on this Mortgage or the debt secured hereby, that the entire indebtednem• secured hY this Mortgage shall thereupon be- come immediately due and payable a1 the option of Mortgagee. " 5. Tb keep the Mortgaged Property insured against loss or damage by ftre, and all perils insured ~ ai~b~ll~eoi tended coverage endorsement, and such other risks and perib as Mortgagee in its discretion may req policies of wch inwrance shall be in the Corm in general use from time to time in the locality in which the Mortgaged property is situated, shall be in wch amount as Mortgagee may reasonably require. shall be u~sued by a company or companies approved by Mortgagee, and shall contain a standard mortgagee clause with loss payable to Mortgagee. When- ever required by Mortgagee, wch policies. shag be delivered- unrnedrately to and held by Mortgagee. Any and all amounts received by Mortgagee under any of wch policies may be applied by Mortgagee on the indebtedne~ secured hereby in such o ma , in its sole discretion, elect or, at the option of Mortgagee, the entire amount so iv~e a"~de~ault. manner as M rtgagee Y art thereof may be released. Neither the application nor the release of any such amounts el curer any part there- Upon a:errise of the power of sale given in this Mortgage or other acquisition of the Mortgag Props Y of by Mortgagee, wch Policies shall become the absolute property of Mortgagee. 6. To first obtain the written consent of Mortgagee, wch consent to be granted or withheld At the sole discretion of Mortgagee, before <a) removing or demolishing any building now or hereafter erected on the premises. (h) altering the arrangement, design or structural character thereof. (c) making any repairs which involve the removal of structural parts or the exposure of the interior o[ such building to the elements, ld) cutting or removing or permitting the cutting a wh h moval of any trees or timber on the Mortgaged Property. (e) removing or exchanging any tangible personal Property is lxirt of the Mortgaged Property, or (t) entering into or modifying any leases of the Mortgaged Property. 7. To maintain the Mortgaged Property in Good condition and reUsir. including but not limited to the making of such repairs as Mortgagee may from time'to time determine to be necessary for the preserviilion of the Mortgaged Properly and to not commit or permit any waste thereof. + ti. To comply with all laws, ordinances, regulations, covenants. conditions and restrictions affecting the" Mortgaged Property, and not to suffer or permit any violation thereof. 9. If Mortgagor fads to pay any claim, lien or encumbrance which is sut~erior to this Mortgage, or when due, any tax or assessment or insurance premium, or to keep the Mortgaged Property in repair. or shall rnmmit or permit waste, or if there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto, 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, 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 may appear in any such action or proceeding and retain counsel therein, and take wch action therein as Mortgagee deems ad- visable, and [or any of such Purposes Mortgagee may advance such sums_of money, including all costs, reasonable attorney's fees and other items of a:pense as it deems necessary- Mortgagee shall be the sole judge of the legality, validity and priority of any such claim, lien, encumbrance, tax, assessment and premium and of the amount necessa ~~ch delay ,may tresult in thereof. Mortgagee shall not be held accountable for any delay in making any such pay any additional interest, costs, charges, expenses or otherwise. 10. Mortgagor will pay to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee to protect the security "hereof pursuant to this Mortgage, including all costa. reasonable attorney's tees and other items of ezpense, together with interest on each such advancement at the highest lawful rate of interest per annum in the State of Florida, and all such sums and interest thereon shall he secured heeyby. 11. All sums of money secured hereby shall be payable v~ithout any relief whatever from any valuation or apprai~- ment taws. rt thereof when 12. if default be made in payment of any instalment of principal or interest of the Note or any pa due, or in payment, when due, or any other sum secured hereby, or in performance of any of Mortgagor's obligatio ~ e at the ~ ants or agreements hereunder, all of the indebtedness secured bereby shall >~warined ~ ~ h eventtMortgagee may avail itself option of Mortgagee, without notice or demand which are hereby expressly of all rights and remedies, at law or in equity, and this Mortgage may be foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costa. charges and expenses thereof. including a reasonable attorney a fee. including all such costs, expenses and attorney's tees for any retrial, reheating or appeals. The indelitedneae secured hereby shall bear interest at the highest lawful rate of interest Per annum in the State o[ Florida from and after the date of any such default of Mortgagor. If the Note provides for instalment payments, the Mortgagee may, at its option, collect a late charge- not to eased two cents for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee for expenses in collecting and servicing such instalment payments. 13. If default be made in payment, when due, of any indebtedness secured hereby, or in performance of any of Mortgagors obligations, covenants or agreement hereunder: ion of (a) Mortgagee is authorized at any time, without notice, in its sole discretion to enter uponr to a the the Mortgaged Property or any Part thereoF, to perform any acts Mortgagee deems necessary security and to rn11eM and receive all rents, issues and profits thereof, including those past due as well_ as those accruing thereafter: and (b) Mortgagee shall be entitled, as a matter of strict right, without notice o[ the Mortgaged Property as security for value or occupancy of the security, or the solvency of Mortgagor, or the adequacy rolled the yenta and the Note, to have a receiver appointed to enter upon and take possession of the Mortgaged Property, were permitted the same as the court may direct- such receiver to have all the rights and po 's profits therefrom and apply under the laws of Florida. use, any and all In either such case, Mortgagee or the receiver may also take Possession of, and for these purposes ~ which is a part of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or ~ personal property any part tbereot. The a:penes (including receivers fees, counsel fees. costs and age nt of all costatand a:pensea incurred) to the powers herein contained shall be secured hereby- Mortgagee shall (after payme } -2- - t ~ ~ gORr. ~V~ PAGF 2148 S