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HomeMy WebLinkAbout0891 , < •s •t ~:r;•i :~rrount to ju~y such r6zugrx NF1Ph (IUE~ shuU {u~id hy 1~lotty~ugo~ to MurIK,~Kre on dem:i~id. 'ft, by n.~fu;~ n~uny de(:~ull by Morigugor under any pro~•ixiun of this Alurtguge, hlortgager declares uil suma secumd hereby to he due und ~kiyuble, Mortg,igee muy then apply nny (unda in aiiid account ugainst tho entiee indebtedneae secured hernby. The enforcrubility o( the covenunta celnting to t:~xes, ustiexxmenlu uod insunioce premi~me he~in otherwise providcd ahull not be aftected except inao(ar s~s thoee obligutions have lieen met by compliunre with this paragraph. Mortgagee mny trom tirae to time s~l ita option waive, and Atter any such waivrr reinatnte, nny or ull provisions he~eof rryuirinR such deposits, by notire tu r!origugo~ ia w~iting. While any such waiver ia in e((ect, Mortgagor slu~ll {~y taxes, ass~.~samenta and insurun~~e premiua~e ~ .~s herein elsewhere provided. 4. To pmmpUy {Kty ull taxea t~nd ~seesamrnta e~xaa~scd or levied under and by viHue of u~y st:Nr, (edernl, or munici{~:~I luw or regulation hereatter {wsaed, uguinat Morlgagee u~wn this Mortgage ot the debt heceby aecured, or u~wn its interest ; under thia Mo~tgage, pro~ided however, ihat the tolal amount so puid (or uoy such tu:ex pursuunt to this par:~~craph togeth- er with the intereat payuble on said indebtednc~s shall not exceed the highest I~wful mte ot interest in Floridi~ ~nd provided further that in the event of the p:+sgage ot uny surh Inw ur regulatiun imposing a ta: or asse~ment against Mortgagee up- on thia Murtguge or lhe del~t secured hereby, thut the entim indebledoeas aecureci by this Mortg:~ge shall therru~w~ 1?e- coine immediutely due und payable ut the option of Mortgagee. 5. To keep the Mo~tgs~ged Property insured against losu or danwge by fire, iind iill perils insured ugainst by an ex- tended co~•erage endorsement, c~nd sui•h olher risks and perils s~s Morigagre in ita disc•retiom m~y requim. The policy or ~ policiea o( auch insurance shall be in the form in generu) use irom time to time in the locality in which the I~lortgaRec! Yro~~erly is situated, shal) be in such a~mount us Mortgagee may reusonably require, shall be issued by a comEwny or rom{k~nies approved by Mortgugee, t~nd shall contain u standarci mortqugee clause with loss ~?nyable to Mortgagee. When- ~ ever required by Mortgugee, such policiea, shall F?e delivered immediately to nnd held by Mortgugee. Any nnd nll amounts ' received by Mortgagee under any o( such ~wlicies may t?e Hpplied by 11~tortgtigee on the indehtedness secured hereby in such manner ~s Mortgagee mi~y, in its sole discretion, ele~•t or, s~t the option o( Mortgs~gee, the entire amount so mc•eived or any ~~art thereot may be rele:ised. Neither the npplication nor the relr;ise ot any such amounts shall cure or waive nny detault. U{wn exen•ise of !he power of sale given in Ihis Mortg~ge or other aequisition o( the MoHgaged Pm~~erty or any ~x~rt there- of by Morigagee, such ~wlicies shaU become the nheolute properly ot MortRaRee. - , ~ 6_ To first obtain the written consent of Mortga~ee, such irorgent lo be Qr.~ntec! or withheld ut the wle dis~•retion of } htortgagee, before Ia1 remo~ing or demolishinR iiny buildinR now or hereafter erected on the premises, Ih) alterin~ the ; :~rr.~ngement, design or structurul character thereof, (c) maki~g any re~~airs which in~•olve the removal of stru~•tural ~~:irts or~the expo~ure of the interior ot such buildinR to the elements, (d1 cutting or removing or ~?ermitling the cuttinR and re- moval ot any trees or timber on the Mortgaged ProE~erty, te) removing or exchs~nging any tangible personal proE~erty which is ~~.~rt of fhe Mortgaged Property, or (f) entering into or modifyinR any leases of the 1~4ortRaRed Ym~~erty. 7_ 7'o maintain the Mortgaged Property in good condition and re~~air, including but not limited to the mukinR o( such re{wirs as Mortgagee may trom time to time detertninc to t?e necesw+ry (or the preservation oi the MortRaged Pm{?c+rty and to nut commit or ~~ermit any waste thereo(. 8. To comply with .~11 laws, ordinances, regulations, co~•enants, conditions .~nd restri~•tions af(e~•ti~g the AlortgaRc~c1 ` Pro~~erty, and ~ot to su(fer or permit any riolation thereof. r f 9. If Mortgagor fails to pay any rlaim, lien or encumbr~~ir which is su~?erior to this A1ortRaRr, or w~hen due, any tax or assessment or insurance premium, or to keep the Mortgaged Property in re~kiir, or shall commit or ~~ermit v~•aste, or i( there he commenced any aclion or pra-eerlinR a(fecting the Mortgaged Property or the title ihereto, or the interest of Mottgagee therein, including, but not limited to, eminent domain and Frankruptcy or rc~r~anizntion proceedinQs, then MortgaRee, at its option, mz~y {~.~y said claim, lien, encumbran~•e, tsx, assessment or premium, with right of subro~ation thereunder, may make such reEk~irs tind t:~ke such steps as it deems :~dcis:ible to prevent or ~ure su~~h waste, and may appear in ainy such action or proceedinR and retain counsel therein, und take such action therein as A1ort~agee drems ad- ~-ixable, and tor any o( such purposes l~lortgagee may advani~e such sums of money, including all .•osts, reasunable altorney's 3 ~ fees and other items of expense as it deems necrss:iry. hiortKagce shall t?e the sole judge of the leg:~lity, ~~alidity and priorit>~ ~ of any such claim, lien, encumbrance, t:~x, assessment and premium and of the amount necessary to be ~~id in satis(action ! thereof. ~lortgagee shal) not be held .iccountable for any delay in m:~king any such ~~yment, which deluy may result in ~ any additional interest, costs, charges, ex~~enses or otherw~ise. 4 . ~ 10. hlortRa~Ror will p.~y to MortRaRee, immediately and withuut dem:~nd. :il) sams o( money ad~:~nird by MorfR:+Kee € to protei•t the security hereof pursuant to this MortAage, includinQ all costs, reasonable attorney's (ees :~nd other items o( ~ expense, toRether with interesf on each sach advancement at the highest lawful rate of intemst ~~er ~nnum in the State o( s Florida, and all such sums and interest themon shall be sec•ured hereby. r ~ 11. All sums ot money u~vmd herehy shall t~e E?:~yable withnut any relief wh:itever fmn? any ~-aluation or appraise- ~ ment I:1W9. 12. if default he made in p:iyment ~~f any instalment o( princiE?:il or interest of the Note or any part thereot when ~ . ~ due, or in ~k~yment, when due, or any other sum secured hereby, or in ~~ertormance of pny of Mortgagor's obliQations, coven- ants or agreements hereunder, all of !he indebtednesx secured hereby shall berome and be immediately duc and payahle at the ~ option ot MortR.igee, without notice or dem~~nd which are heret~y ezpressly wai~•ed, in which event MortRaRee may a~-ail itsel( ~ o( all rights and remedies, at law• or in equity, :~nd this MortgaRe may be (oreclosed w•ith all rights and remrdies aftorded by ~ the law•s ot Florida :~nd h4ortRaQor shall pay all costg, c•harges and e:penses thrreof, includinR a reasonable atto~ney's fee. ~ including all such costs, ex{~enses nnd attorney's ires (or any retrial, rehearing or appeals. The indebtedness sec•ured hereby ~ shall t?ear interest at the hi~hest law•ful rate of intPrest ~~er .~nnum in the State ot Florida (rom and a(!er the date .o( any ~a such detault of riortg:igor. I( the Note pro~•id~s (or instalment ~~yments, !he A1ortRa~ee may, at its option, e•ollect a late ~ i•harRe not to eYCeed two cents tor each one dollar not ~wid to the 1~1ortRaQee when due, to reimburse the 1~1ortR:~Rc~e for ~ ex~?enses in collectinR and servi~ing such instalment payments. ~ 13. If default be made in payment, when due, ot :~r,y indebtedne~.s sec•ured herehy, or in F~er(orman~•e of any of " Mort~aRor's obliRations, co~•enants or aKreement hereunder. 1.~! Mortgagee is authorized at any time, without noti~•e. in its sole disc•retion to enter upon and take ~?o~session of the ltortgaRed Yro{~erty or any part thereof, to ~?ertorm any acts 1NortgaRee deems necessary or pmper to i•onsen~e the _ u security and to collect and receive all rents, icsues and pro(itg thereof, includinq those i~st due :~s well as tho~e a~rruinR therea(ter: and (b1 MortRagee shail he entitled, as matter o( strict right, without notice and exparte, and without regard to the value or «xupancy ot the ~vrity, nr the snl~~en~y of 111origaqor, or the adequacy of ihe Mortgaged Pro~Hy as security for ~ the Nete, to have a rec•eiver ap~~inted to enter u~~on and tnke isossession ot the 1~1ortRaqed Property, collect the mnts and ~ profits therefrom and apply the same as the rnurt may direct, such receiver to ha~•e all the rights and powers permitted ` - under the laws ot Florida. In either such case, Mortgagee or lhe receiver may also take pos.9easion ot, and for these purposes use, any and all ~ ~~ersonal property which ia a part ot the Mortgaged Property and used by Atortgaqor in the rental or leasing thereof or :iny part fhereof. The ex~~ense (including receivei s tees, c~wnael tees, costs and agent's compensation) incurred pursuant ~ to the powers herein contained shall be secured hereby. btortgagee shall (atter payment ot all coats and e:penses incurredl ~ ~ -2- (1/~ P ~ SC~r W~ V~ ~ . i . , i : ~ ~ ~ • ~ ~:':E. . . . . . ~ . . .