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account to {,ay such +•hurKaw when due' shall I,e {u+id by htortgaKor to MorlKugeti• un dem:u?d. If, by n•uson of :any default
by Mortgagor under any provision of this Aluriquge, Mortgagee declares all sums secured hereby to he due and payable,
Mortgagee m:?y then apply any funds in said account against the entire indebt?dness sea•und herel?y. The enforceability of
the covenants relating to taxes, assessments and insurance premiums herein otherwise provided shall not be aHec•ted exrnpt
insofar ua Ihose obligations have been met by compliam~e with this paragraph. Mortgagee m,ry from time to time at its
option waiae, and after any such waiver reinstate, any or ull provisions hereof requiring each de{wsita, by notice to
Mortgagor in writing. While any such waiaer is in effect, l?lortgngor shall pay taxes, assessments and insurance premiums
us herein elsewhere provided.
4. To promptly p:?y all taxes and assessments :ut•,ess~•cl or levied under,?nd by virtue of any stole, fedrr,d, or munici{,:+1 '
law or regulation hereafter passed, against Mortgagee a{,on this Mortgage or the debt hereby secured, or upon its interest
under this lNortguge, provided however, that the total amount so paid for any such taxes pursuant to this paragraph togeth-
er with the ~ntereat payuble on said indebtedness shall not exceed the highest lawful rate of interest in Florida and provided
further that in the event of the passage of any such law yr nytulation im{,using a t:tx or assessment against Mortgagee up-
on this Mortgage or the debt se?vred hereby, that the entire indebtedness secured by this I1lnrtgage shall thereu{x,n t,c•-
c•ome immediately due and payable at the option of Mortgagee.
5. To keep the MortguKed Pro{erty insured against loss or damage by fire, and all perils insured against by un ex-
tended coverage endorsement, and such other risks and {,erils as Mortgagee in its discretion may require. The policy or
l,olic•ies 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 cum{wny or
companies approved by 1`lortgagee, and shall contain a standard mortgagee clause with loss payable to Mortgagee- When-
ever required by Mortgagee, such {?olicies, shall be delivered immediately to and held by Mortgagee. Any and all amounts
received by 111ortgugee under any of such policies may l,e applied by Mortgagee on the indebtedness secured hereby in such
manner as Mortgagee may, in its sole discretion, elect or, :+t the option of Mortg:+gee; the entire amount so rernived or any
{,art thereof may be released. Neither 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 ac-c{uisition of the Mortgaged Pro{,erty or any {,art there-
of by Mortgagee, such {,olicies shall become the absolute property of I1lortqugee.
6. To first obt:+in the written consent of Mortgagee, such consent to t,e granted or withheld at the sole discretion nl
Mortgagee, before la) remoahng or demolishing any bwlding how or herea[ter ercrcted on the premises, Ib) altering the
arrangement, design or structural character thereof, (c) making any repairs which involve the removal of struc•turat parts
or the exposure of the interior of such building to the elements, (d) cutting or removing or permitting the cutting and re-
moval of env trees or timber on the Mortgaged Property, (e) removing or exchanging any tangible {,ersonal property which
is {x+rt of the Mortgaged Property, or (f) entering into or m«lifyinq any leases of the Mortgaged Pro{erty.
7. To maintain the Mortgaged Prol+erty in good condition and rel,air, including but not limited to the making of such
re{,:?irs as Mortgagee may from time to time determine to t,e necessary for the preser•ation of the Mortgaged Property and
to not rnmmit or {,enmit any waste thereof.
S. To comply with all laws, ordinances, regulations, coven:nts, conditions and restrictions attec•ting the Mortgaged
Ym{,erty, and not to suffer or {,ermit any violation thereof. '
9. If Mortgagor fails to {k?y any claim, lien or encumbr+nc•e which is su{,erior to this Mortgage, or when due, any tax
or assessment or incur+ncr premium, or to keep the Mortgaged Property in repair, or shall commit or {,ermit waste, or if
there I,e 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 s+id daim,~ lien, encumbrance, tax, assessment or premium, with right of subrogation
thereunder, may m:+ke such repairs and take such steps as it deems advisable to prevent or cure such waste, and may
appear in any such action or pnx•eedinq and retain counsel therein, and take such action therein as Mortgagee deems ad-
visuble, and for any of such purposes Mortgagee may advance such sums of money, including all costs, reasonable attorney's
fees and other items of exl,ense as it deems necess:ry. Mortgagee shall be the sole judge of the legality, validity and priority
of any such claim, lien, encumbran~r, tax, assessment and premium and of the amount necessary to he paid in satisfaction
~ thereof. Mortgagee shall not be held ac•c•ounfable for any delay in making any such {xryment, which delay may result in
any additional interest, costs, charges, ex{,cosec or otherwise.
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10. 1141ortgagor will {?:?y to lllortgagec, immediately and without demand, all sums of money advanced by 111ortg:,Kcr
to protect the security hereof pursuant to this tllortgage, including all costs, re:~tionable attorney's tees and other items of
ex{,ense, together with interest on each such ada•ancement at the highest lawful rnte of interest {,er annum in the State of
Florida, and all such sums and intenwt thereon shall I,e sec•ured hereby.
11. All sums of money se'c'ured hereby shall l,e {,:?yable without am• retie( whatever from any valuation or appraise
ment I:Iw's.
$ 12- If default t?e made in {,:+yment of any instalment of priori{,:+1 or interest of the Note or any part thereof when
e due, or in {,ayment, when due, or any other sum secured hereby, or in {,er(ormance of any of Mortgagor a o legations, c•oven-
:u?ts or agreements hereunder, all of the indebtedness secured hereby shall l,ecome and t,e immediately due and payable at the
option of Mortgagee, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itself
of all rights and remedies, at law or in equity, and this Mortgage m:+y t,e foreclosed with all rights and remedies afforded by
the laws of Florida and Mortgagor shall pay all costs, charges :end ex{,en~:es thereof, including a reasonable attorney's fee,
including all such costs, ex{,cosec and attorney's fees for any retrial, rehearing or appeals. The indebtedness secured hereby
shall bear interest at the highest lawful rate of interest {,er annum in the State of 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 exceed two cents for each one dollar not {x+id to the Mortgagee when due, to reimburse the Mortgagee for
expenses in collecting and servicing such instalment payments.
13. It default t,~• made in payment, when due, of any indebtedness secured hereby, or in performance of any of
Mortgagor's obligations, covenants or agreement hereunder:
F la) Mortgagee is authorized at any time, without notice, in its sole discretion to enter u{,on and take {?ossession of
the Mortgaged Pro{,erty or any part thereof, to {,erform any acts Mortgagee deems necessary or prol,er to c•onsen•e the
1 security and to collect and receive all rents, issues and profits thereof, including those past due as well as those acrruinq
thereafter: and
Ih) Mortgagee shall I,e entitlcrl, as a matter of strict right, without notice and ex{x+rte, and without regard to the
a•alue or occupancy of the security, or the sohency of Mortgagor, or the adequacy of the Mortgaged Property as security for
the Note, to have a receiver appointed to enter upon and take {wsgession of the Mortgaged Property, collect the rents and
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pmfits therefrom and apply the same as the court may direct, such receiver to have all the rights and {x,wers permitt
under the laws of Florida.
In either sue•h case, Mortgagee or the receiver may also take {xssesaion of, and for these purposes use, any and all
{,ersonal property which is a {,art of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or
any part thereof. The expense (including receiver's fees, counsel tees, costs and agent's compensation) incurred pursuant
to the powers herein contained shall be secured hereby. Mortgagee shall fatter payment of all costs and a:penses incurred)
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