HomeMy WebLinkAbout1668 account to tu+y such charges when due shall I,e paid by Mortgagor w I1lortgag+•+• un den?and. It, by n.+sun of any del:?ult
by Mortgagor under any provision of this \lortguge, Murlg++ger dw•lures all sums se+~ured hereby to he due and f):+yable,
Mortgagee may then apply any funds in said amount against the entire indebtednc~+s ser•ured hereby. The entorceubility ut
the cavenunls reh+ting to t:+xr?1, :+sreaan+ents and insurance premiums herein otherwise provided shall not tle affected except
+nsutur us thube obligations have been met by compliance with this paragraph. Mortgagee nu+y from liras to time ut its i
option waive, acrd after any such waiver reinstate, any or all provisioru het+wf requiring such del,osits, by notice to t
1lortgugor to writing. While any such waiver i~ in effect, 1\lorigagur shall pay tuxes, useessments and insuram•e premiums I
as herein elsewhere provided.
4. To promptly Ix+y all tuxes and ussexvmenls as_a:cw•d or levied under and by virtue ~f any state, terleral, or municil,:d
law or regulation hereafter passed, against Mortgagee upon this Mortgage or the debt hereby se~vred, or ul,on its interest
under this 1\tortgage, provided however, that the total amount so Iwid for any such taxes {,ursuant to this I,:+rugraph togeth•
er with the interest Iwyuble un said indebtedness shall not exceed the highest lawful rate of interest in Florida and provided
further th:d in the event of the {1r+es:?ge of any such law or rngulution imposing a tax or assessment ag:+inst Mortgagee up•
on this Mortgage or the debt se+•ured hrn•by, that the entire indebtc•dn+:ss ser•ured by this IMortgage shall thereutx,n he
curve immedi:tely due and Ix+yable at the option of MortKugoe.
5. To keep the Alortguged Prol)erty insured against loss or damage by fim, :+nd all I,erils insumd :+gainst by an ex-
tendt•d rover.+ge endorsement, and such other risks and perils as tllorigl+gee in its discretion miry require. The 1?olicy or
Ixdicies of surh insurance shall be in the form in gener.+l use from time !u time in the lor:+lity in which the 1ltortgaged
Property is situut+•d, shall he in such amount as Mortgagee may reasonably require, shall he issued by a company or
ron+l):+nies approved by Mortgagee, and shall contain a standard mortgagee clause with loss I,lryable tc Mortgagee. When-
ever required by 11lortgugee, such 1)olicies, shall 1)e delivered immediately to and held by ;Ltorigugee. Any and all amounts
rer•eived by Mortgagee under any of such 1)olicies may I,e applied by Mortgagee un the indebtedness secured hereby in surh
rnunner us Mortgagee may, in its sole dial+•retion, eler•t or. at the option of Mortgagee, the entire amount so received or any
lu+rt thereat may be rele:+aed. Neither the application nor the rnlease of any such amounts shall cure or waive any default.
UIx)n exen•ise o[ the Ix,wer of s:de given in this Mortgage or other ar•quisition at the 1lortgugcd Prolerty or any Dart there-
of by Mortgagee, surh {x)licies shall hcvome the nl)solute pmperty of Mortgages,.
6: To first obtain the written cor>_tirnt of Nlortgags•e• such consent to be gr+nteri or withheld at the sole diss•retion of
Mortgagee, before la) removing or demolishing any building now ur hereafter en•s•t+•d on the premiu•s, Ih) ahering ths•
:+rr.+ngement, design or structural chanrter thereof, Ic1 making any rel,:+irs which imrolve the removal of structural parts
or the exl,osure of the interior at such building to the elements, Id? cutting or removing or permitting the cutting and re-
moval of any trees ur timtx•r on the Mortgaged Prolxrty, Ie? removing or exchanging any tangible t)erson:+l pmlx~rty which
is I):+rt of the Morigags•d Prol,erty, or Ifl entering into ar modifying any leaw•s of the Mortgaged PmI)eriy
7. 'I•a m:+inh+in the Morlgags•d Pm{)erty in g«xt condition and rnl,air, including but not limilesi to the making of surh
ngr.+irs ax Alurtgagee may from time to time detern?ine to !x• ncs•ess:+ry for the preservation of the Mortgage[ Pmf>rrh• :?nd
to not commit or permit any waste thereof.
K. To comply with all laws, ordinnncel, regulations, r•ovenanls, cunditiom and n•strirtiuns atfsr•ting the Mortgaged
Yml,rrty, and nut to suffer or !x•rmit any violatian thereat.
9. It \lortgagor tails to pay an>• claim, lien or encumbrmce which is sutx•rior to this Mortgage, or when due, any tax
or as+es-sment nr insurance premium, or to ksrp the hortgaged Pmlx•rt>• in rep:?ir. or shall commit or 1)ermit waste, or if t
them !,e commenced any action or prr,r•es•ding atfs•r•ting lh~ Mortgaged Pml)erly or the title thereto, or the interest of ,
Mortgagee therein, including, but not limited to, eminent domain and banknrptcy ar reorganiz:+tion pror•eedings, then
Mortgagee, at its option, may Ir?y s:+id claim, lien. encumhrlnre, tax, assessment or premium, with right of subrogation
thereunder, may make surh mp:urs and take surh steps :?s it deems ad~is:?ble to prevent ur cure such waste. and may
aplxar in any such action or prrx•crding and retain .counsel therein, sad take surh action therein as Mortgagee deems ad-
~is:+ble, and for any of surh pury,r,ses Aturtgagee may ads:+nce such sums of n?oney, including all rusts, reasonable attorney's
fen's and other itemx of ext)cnse as it decn+s nes•s•ss:+ry. Mortgages, shall I,e the sole judge of the legality, validity and priority
ut any such claim, lien, encumbrance, tax, assevment and premium and of the amount ns•r•ess:+ry to he t>i+id in satisfaction
thereat. Mortgagor shall not I,e held acrountahle (or any delay in making any such tu+yment, which delay may result in
ani• additional interest, costs, charges, extx•nses ur othenvirr•
10. Mortgagor will pay to Mortgagee, immediately and without demand, all suns of money adv:+nced by Mortgagsr
i to prots•r•t the security hereof pursuant to this Mortgage, including :?Il rusts. reasonable attorney's tees and other items of
exl)ense, together with interest nn each surh advancement at the highest lawful rate of interest t)er annum in the State of
1•'lorid:+, and all surh sums and interest thereon shall Ix• secured hereby.
i 11. All sums of money ss•curs•d hen•hv .hall t,r• p:+yahls• without :u?}• relief whuteuv from any valu:?tion or appr:riss•-
n?s•nt laws.
12. If default I,s• made in payment of :un• instalment of pnncip:?I or interest of the Note ar any p:+rt thereof when
s due, or in Ik+yment, when due, or anv other sum ss•cured herr•hv. or in tx rtormance of any of Mortgagor's obligations, coven-
ants or agres•rnents he: reunder, all of the indebtednes se.•urr•d hereby shall !x•come and Ise immediately due and I,:+yahle at ths•
j option at Martgagsr, with~,ut notice or demand which :+re hereby exprr~+51y a•aivc•d• in which event !Mortgagee may a~:ail it_wlf
of all rights and remedies, :+t law or in equity, and this Afartgage may be foreclosed with all righh and remedies atfordcri by
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the li+ws Of f IOrlda and ~tortgagnr shall pay all costs, rharRr•s and expenses thereof, including a reason:+ble attorney's tee,
including all surh costs, expenses and attorneys fsrs tar :?ny retrial, rehearing or aplxals. The indebtedness secured hereby
shall ix•ar interest :+t the highest law•fu) rate of interest tx•r annum in the State a( Florida fmm and after the date of any
such de(:+ult of Mortgagor. It the ?dote provides for instalment payments, the Mortgagsr may, at its option, coller•1 I:{te ,
charge not to excs•sd two rents for rash one dollar not paid to the Mortgagee when due, to reimburse the ?Mortgagee for
extx•nses in collecting and sen'i,•ing surh instalnu•nt payments •
s 13. It default I,r• made in )+vmr•nt• when due, of any indehts•dncss secured hereby, or in 1)ertormance of am• at
!
E Mortgagor's obligations. ~•ovrnants or agre+•ment hereunder:
fat Mortgagsr is authorized at any time, w•ithuut notice, in its sole discretion to enter upon and take (,ossession of
the Mortgaged Yrolx•rty or any part thereof, to I,erform any acts Mortgagee deems ner•c5s:?ry ar prol)er to consen~e the
security :+nd to collect and rer•eive a!1 rents, issues and profit. then•of, including those p:?st due as well as thane accruing
thereafter: and
Ib) Mortgagee shall I)e entitled.:+s a matter ut strict right, without notice and exparte, and without regard to the
value or occupancy u( the security, ar the so)cency of ;~lortgagar, or the adequacy of the Martgageri Property as security tar
the Mute, to have a receiver aplx,intcd to enter ul,on and take Ixsgs•scion of the 1\tortgaged Property, collect the rents and
trrofits therefrom and apply the s:,me as the court m:n• direct, such rs•s•eiver to have all the rights and tx)wers 1)s•rmittsvi
under the law's of Florida.
In either surh case, 1lortgags•s• or the receiver may also take Ix,sss•s_Siun ot, and tar these puriwses use, any and all
t)erwmal pm?x•rty whi+•h is a {k•?rt of the Mortgaged Property :?nd used by Mortgagor in the rental or leasing thereat or
:+ny part thers•of. The ex{>Pnse (including receiver's fsrs, counsel tees. costs and agent's coml)ensation) incurred pursuant
I to the powers herein contained shall be secured hereby. ~tartgagee shall (after {)ayment of all costs and expenses incurreril
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