HomeMy WebLinkAbout2356 account to pay such charges when due shall be paid by Mortgagor to Mortgagee on demand. tt,by reaso~d~any default
by Mortgagor under any provision of this Mortgage. Mortgagee declare all sums secured hereby to be due and payable,
Mortgagee may then apply any funds in said account against the entire indebtedness secured hereby. The enforceability of
the covenants relating to taxes asaessittents and insurance premiums herein otherwise provided shall not ba a(t~cted a:cspt
insofar r those obligations bstve been rust by eogaplianos with this paragraph. Mortgagee may from time to time at its
option waive. and titer any such waiver r'einttate, stgr or aU provisions hereof requirint such deposits, by notice to
Mortga~t iu writing. _ While any such walvbr is in effect, Mortgagor shall pry taus. assessments and inwrattce premiums
as herein ebtswhers provided. ,
To promptly pay all taxes sad asserenents assessed or levied under and by virtue of any state. federal, or municipal
law or regulation hereafter passed. against Mortgages upon this Mortgage or the debt hereby secured. or upon its interest
under this Mortgage, provided however. that the total amount so paid for any such tares pursuant to this paragraph togeth-
er with the iatetest payable on said indebtedness shall not exceed the highest lawful. rate of interest in Florida and provided
further /hat is the event of the passage of any such law or regulation imposing a tar yr assessment against Mortgagee up-
on this Mortgage or the debt secured hereby, that the entire indebtedneos secured by this Mortgage shall tbenupon be-
rnmo immediately dw and payable at the option of Mortgagee. .
6. To keep the Mortgaged Property insured against loos or damage by fire, and all perils inwred against by an ex•
tended coverage endorsement, and such other risks and perils as Mortgagee in its discretion may require. The policy or
policies of such insurance shall be in the form in general use from time to time in the locality in which the Mortgaged•
Property is situated, shall be in such amount as Mortgagee may reasonably require. shall be issued by a company or
companies approved by Mortgagee. and shall contain a standard mortgagee clause with low payabb to Mortgagee. When-
ever required by Mortgagee, such policies. shall be delivered immediately to and held by Mortgagee. Any and all amounts •
received by Mortgagee under any o[ such policies may be applied by Mortgagee on the indebtedness secured hereby in such
manner as Mortgagee tray; in its sole discretion, elect or, et the option ot.Mortgagee; the entire amount so received or any
part thereof may be released. NeiWer the application nor the release of any such amounts shall cure or waive any default.
Upon exercise of the power of sale given in this Mortgage or other acquisition of the Mortgaged Property or any part there-
of by Mortgagee, such policies shall become the absolute property of Mortgagee.
6. To Cyst obtain the written consent of Mortgagee, such 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, (b) altering the '
arrangement, design or struMutal character thereof. (c). making any repairs which involve the removal of structural parts
or the exposure ot.the interior of such building to the elements, (d) cutting or removing or permitting the cutting and re-
moval of any trees or timber on the Mortgaged Property. (e) removing or exchanging any tangible personal. property which
is part 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 repair, including but not limited to the making of such
repairs as Mortgagee may trorn time to time determine to be necessary tot the preservation a( the Mortgaged Property and
to not commit or permit any waste thereof. ~ ~ •
& To comply. with all laws, ordinances, regulations, covenants, conditions and reatriMiona affecting the Mortgaged
Property, and not to suffer or permit any violation-thereof. -
9. If Mortgagor fails to pay any claim, lien or encumbrance which is superior 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 affecting the Mortgaged Property or.tbe title thereto, or the interest of
Mortgagee therein, including,, bttt not limited to, eminent domain and bankruptcy or reorganization proceedings, then
Mortgagee, at its option, tnay pay said claim, lien, encumbrance, tax, assessment or premium, with right of subrogation
thereunder, may 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 rnunael therein, and take such action therein as Mortgagee deems ad-
visable, and [or any of such purl.~oses Mortgagee may advance such sums of money, including all costs, reasonable attorney's
fees and other items of expense as it deems necessary.- Mortgagee shall be tbe sole judge of the legality. validity and priority
of any such claim, lien, encumbrance, tar, assesamenl and premium and of tbe amount necessary to be paid in satisfaction
thereof. Mortgagee shall not 6e held accountable for any delay in making any such payment, which delay may result in
any additional interest, costs, charges, expenses or otherwise.
~ 10. Mortgagor will pay to Mortgagee, immediately and without demand, all sumo of money advanced by Mortgagee
to protect the security hereof pursuant to this Mortgage, including all coats, reasonable attorney a fees and other items of -
e:pence, 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 be secured hereby.
11. All sums of money secured hereby shall be payable without any- relief whatever from any valuation or at~praise-
ment laws. _
12. It default be made in payment of any instalment o[ principal:or:ipt~es?et;v~;tbc, to or any part tbeteof when
due, or in payment, when due, or any other sum secured hereby; or in performance of any Af Mortgagor s obligations, coven-
ants or agreemonta bereunder, all of the inde-btedne~ss secured hereby aha~I liecorrie ens fir immediately due and payable at the
option of Mortgagee, without notice or demand which are hereby expressly -waived, in M!hicha±+e~tt Mortgagee may avail itself -
of all rights and remedies, at law or in equity, and this Mortgage rosy be foceglp~d;~vit}~ a41 riglif~,
,a~ remedies afforded by ~
the laws of Florida and Mortgagor shall pay all costs, ces~ .expenses thereof, inc~ludin~ G t~i:$onable attorney a fee,
including all such costa, expenses and attorney's fees for any retrihl, rehearing or a!bpeabt. iilte jatdebisdne~as secured hereby
shall bear intere~at at the highest lawful rate of interest per annum in the State of Florida from and after the date of any
such default of Mortgagor. It the Note provides 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 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:
(a) Mortgagee is authorized at any time, without notice. in its Bole discretion to enter upon and take possession of
the Mortgaged Property or any part thereof, to perform any acts Mortgagee deems necessary or proper to conserve the
s security and to rnllect 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 and experts, and without regard to the
value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property as security for
the Note, to have a receiver appointed to enter upon and take possession of the Mortgaged Property, collect the yenta and
~ profits thcretrom and apply the same as the court may direct, such receiver to have all the rights and powers permitted
under the laws of Florida.
f In eitber such case, Mortgagee or the receiver may also take possession of. and for these purposes use.. any and all ,
personal property which is a part of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or
any past thereof. Tlie expense (including receiver's fees, counsel fees, coats and agent's compensation) incurred pursuant r
to the powers herein contained shall. be secured hereby. htortgage~e shall (after payment of all costa and expenses incutaed) i
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