Loading...
HomeMy WebLinkAbout2868 . ~ 3. (a) To pro rly care fur and keep the premises in good condition and repair; (b) not to remove or demolish any building or impmve- ments thereon without the written ern,sent of Mortgagee; (e) to complete in a gaxi and workmanlike mam,er any bwldtnq wh,ch may he congtructerl thereon and to pay when due all claims for labor performed) and matenalg furnished therefor; (d) to comply with all laws, onlinanres, requlatiaui, cd;veuanta, cunditiwrs and reslrictiuns affeeUu!} the premise, and not to suffer or permit any ?atiun there,•f; (e) to allow Mortgagee to inspect the premises at any reasonable time; (f) not to a,mmit or permit any waste or deteri~ ratio n ,~t the pre- mises; (q) and to do any act or acts, all m a timely and proper manner, which from the character or use of the premises, may be reasonably , mecesssry to protect and preserve said prcmi~a, the specific enumerations ~ierein nut limiting the general. 4. To pay when due, anJ without requiring any notice from Mortgagee, all tares, assessments of any type or nature, and other charges levier! or assessed against tl?e premises hereby encumbert:l and ppinduce receipts therefor upon demand. 1( tar delr,.vta are nyttuin~l by 5ortgagee in acconlance with Mortgagor's (:ovenant \o. 6, \lortgagor's pnmary liability [or taxes as herein stipulated shalt remain in full force and effect as herein provided, although the pro~isiona of said last menttundxl covenant shall govern as to deposits and pay- meuta therefrom by Jlurtgagee. 5. To keep the building and improvements now standing or hereafter erected upon the mortgaged premises and any and all apparatus, fixtures and appurleuances now or hereafter in or attached to said buildings or impn,vementg insurcrl against h,sg or damage by fire and such other hasanig as 5lurtgagee may from time to time nrluire, all such insrurance to !?e in forms, rn compani,•s and in surr?s (not less than sufficient to avoid any claim tin the part of the insurer for co-insurance) satisfactory to 5ortgagee• that all insurance p ~licies shall be held by and shall be fur the benefit of and first payable in case of loos to \lurlgagee, and that at least fifteen days before the expiration tit each such policyy, a new and sufficient policy to take the place of the one m expinnq shall he delivered to ;1lortgagee. AI ,rtgagor hereby assigria to Jlortgagee all moneys recoverable under each such {{ux,licy, and agrees that in the event of a long the amount collected under any policy of insurance on said property may, at the option of the :1lortgagee, be applied by Mortgugee upon any indebted- n~s and/or obligation secured! hereby and in such orler rig Mortgagee may determine; or said amount or any pp:utiun therrrf may, at the option of Mortgagee. either be used in replacing, repairing or restoring the improvements partially or totally dfestmycdl to a condition satis[actory to 1\lortgagee, or be released to Mortgagor, in either or which events the Mortgagce shall not be ubligatdyl to see to the pro ,er application thereof; nor shall the amount so released or used by deemed a payment on any inrlebtedirre~ secured hcreb~•. It is furt~ier agreed! that upon foreclosure sale the title to all insurance held by or [or Alortgagee shall pass to the foreclosure purchascr,~and \lortgagee is empowered in the name of Alurtgagur to execute any instrument which fray lie necessary to vest the title to such insurance w such foreclosure purchaser. 6. 1f r+equircd by Mortgagee, Mortgagor shall also make monthly deposits with Mortgagee, in anon-interest bearing account, together with and in addition to interest and princil,sl installments, of an amount equal to the tares, assessments and quvernmental charges which may be !safer! or ass~edl against the prcmi>•ea, and insurance premiums next due, 1~ amount already depusittrl therefor, di~ideri by the number of months to elapse prior to ttie date when such taxes, assessments, governmental charges and insurance premiums will become due and payable. The amount of such taze3, assessments, governmental charges and insurance premiums, when unknuw n, may be estimateri by \turtgagee. tiuch deposits shall be used by Mortgagee to pay such tares, asse~ments, governmental charges and insurance premiums when due Any insufficiency of such account to pay such charges when due shall be paid by Mortgagor to ;ltort„agee on demand. If there is any default by Mortgagor under any provisions of t)?is mortgage and Mortgagee declares all sums secured hereby to be due and payable. \lortgagee may then apply any fundls in said account against the indebtedness secured hereby in such manner as Mortgagee may elect. The enfon~exbility of the covenants relating to taxes, assessmentsg, quvernmental charges and insurance coverage herein otherwise provided shall nut be affected except insofar as those obligations have bxn met by compliance with this paragraph. \lortgsgce may from time to time at its option waive, and after any such waiver, reinstate, any or all provisions hereof re~}wr?ng such deposits by notice to \iortgagor in writing. \t'hile any such waiver is in effect ~fortgaqur shall pay taxes, asx.•~ments, governmental charges and insurance I?remiums as Herein elsewhere provided. ' 7. To pay all charges or debts and interest thereon which constitute charges or liens of equal rank with or have any pre[erence or priority over the lien u[ this mortgage; all costs. fees and expenses, including cost of evidence of title, court costs, reasonable attorney's fees (not exceeding amount permUtedl by law) incurred by Mortgagee in enforcing the provisions of this mortgage, or in defending or intervening in any action affecting or purporting to affect any of the property covered by this mortgage, or the priority or validity of this mortgage, whether brought by or against Mortgagor or Mortgagee. S. To promptly pay all taxes and assessments assessed or levied under and by virtue n[ any state, federal or municipal law or re~u- lation hereafter passed against \iortgagee upon this mortgage or the debt hereby secured, or upon its interest under this mortgage, provided however, that such payment rs not unlawful. In the event of the passage of any such law or regulation providing for any tax, assessment or charge wtuch could not lawfully be paid by Mortgagor, the entire indebtedness secured by this mortgage shall thereupon become immediately due and payable at the option of 1liortgagee. 9. To repay immediately, without demand, all sums of money advanced or ecpended by Mortgagee pursuant to this mortgage. with interest thereon from the date of advancement unW repaid at the rate of per cent annum, all of which sums shall k be secured hereby and shall be payable forthwith. tt~e1V@ i ~ 10. Should 1lfortgagor fail or reuse to make any payment or do any act which 111ortgagoru obligated hereunder to make or do, j at the time and in the manner herein provided, then :lortgagee may, without necessity of notice or demand upon :1lortgagor, and without releasing Mortgagor from any obligation hereunder: (a) make or do the same in such manner and to such extent as ~Sortgagce may deem advisable and advance such sums of money for that purpose as by M~rtgagee may be deemed necessary; (b) pay, purchase, contest or compromise any claim, debt, lien, charge or imcumbrance wluch adversely a8ect the premuses covered by this mortgage or the ben or ~ validity of this mortgage. 11. Any breach or default by :1ortgagor under the provisions of any Assignment of Lease, or Leases, of the premises given as addi- A tional aecunty for the payment of the indebtedness secured hereby, or any failure of Mortgagor to fully protect, insure, preserve and cause conti:iued performance and fulfillment of the terms, convenants or provisions in said lease(s) required to be performed or fulfilled by the Lessee, shall constitute a default hereunder and at the option of Mortgagee all unpaid principal and accrued interest on the note secured by this mortgage shall, notwithstanding anything in the note or in this mortgage to the contrary, become immediately due and payable. 12. If default be made in the payment of any installment of principal or interest of said note or any part thereof when due, or in payment, when due, of any other sum secured hereby, or in performance of any of Mortgagor's obligations, covenants or agreements here- under, all of the irdebtedness secured hereby shall become and be immediately due and payable at the option of hiortgagee, without notice or demand which are hereby expressly waived. in which evens biortgagee mayy avail itself of all rigghis and remedies, at law or in egruty, and this mortgage may be foreclosed with all rights and remedies afforded by the laws of hlorida and liurtgagor shall pay all costa, charges and expenses thereof, including s reasonable attorney's fee. 13. In the event 1lfortgagor shall, without 111ortgagee'a written consent, sell, convey or alienate the mortgaged premises. or any part thereof, or any interest therein, or if the title thereto shall become vested in any other party than \Inrtgagor ?n ar» manner what- sever. the note and obligations securcrl by this mortgage, irrespective of the maturity dates expressed therein, at the option of Mortgagee, and without demand or notice, shall immediately become due and payable. w 14. In the event any party liable for the payment of the indebtedness secured hereby, or any part thereof, files a voluntary petition in bankruptcy, makes an assignment for the benefit of any creditor, or is declared bankrupt or insolvent, or if a creditor's or debtor's ' petition affectii?q said property, filed purauanC to the provisions of the Bankruptcy Act, as amended, is approved, or if the premises, of any part thereof are placed under the control or in the custody of any court, or if Mortgagee shall be made a party to or shall intervene in any action or proceeding stfecting the premises dx the title thereto or the interest of 1ltortgagee under this mortgage, then, in either or any of said events, 111ortgagce may, at its option, have the same rights and remedies sa if default were made m the payment of the note secured hereby, or any installment of pnncipal or interest thereon, and shall have the further right, at its option, to appear m and defend and protect its right and interest under any such action or proceeding, and Diortgagor agrees to ay, upon demand, all costs and expenses, including reasonable attorney's fees, which may be advanced or incurred by Diortgagce. and all such amounts shall l,e a lien on the said premises and secured by this mortgage. 15. In the event the premises, or any part thereof, are taken under the power of eminent domain, the entire award, both leasehold and reversion, but excepting that for business losses to tenants or lessees, shall be paid to Mortgagee, and Jiortgagec is hereby empowered in the name of Iitortgagor to receive and give acquittance foi• any award or judgment rendenrl incident thereto, whether joint or several. jj Dfortgagee may apply all such sums or any part thereof so received, after the lsyment of allot its expenses, including costs and attorney's fees, on the indebtedness secured hereby in such manner as it elects, or, at its option, the entire amount or any part thereof so received ' ~ may be released. 18. In the event 5ortgagor hereafter executes any lease, or leases, of all or any portion of the tAattgaRed pre~isaes, Jfortgagor, upon demand by 5ortgagee, w-ili execute and deliver to Mortgagee assignments of such lease or leases as additional rnllaleral security for the payment of the imdh;btedness secured by this mortgage. ~j~~++l~ 3~RrJU4 ~'!t.: ~rJVJ