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account to twy xuch charges when due shall he l,:+id by Mortgagor to I\lurtgugee on demand. 1t, by reason ul any del;wlt
by Mortgagor under any provision of this Mortgage, Mortgagee declares all suns secured hereby to he due and Imyahle, ;
Mortg:?gee may then apply any funds in +u+id account against the entire indebtedness sec•ur~rcl hereby. The enfon•eabilitY of !
the covenants relating to taxes, assessments and inbun+nrn premiums herein otherwise provided shall not he affected except {
insofar as those obligations have been met by compliance with this paragraph. Mortgagee may from time to time at its
option waive, and after any such waiver reinstate, any or all provisions hereof requiring such deposits, by notice to
Mortgagor in writing. While any such waiver is in effect, Mortgagor shall pay taxes, assessments and insurnnce premiums
as herein elsewhere provided.
4. To promptly pay all taxes and assessmentx ussesBecl or lewd under and by virtue of any state, feden+l, or munirils+)
law or regulation hereafter Ik+ssed, against Mortgagee upon this Mortgage or the debt hereby secured, or upon its interest
under this Mortgage, provided however, that the total amount so lwid for any such tuxes pursuant to this paragraph togeth•
er with the interest payable on said indebtedness sh:+Il not exceed /he highest lawful rate of interest in Florid:+ and provided
further that in the event of the passage of any such law or regulation imposing a tax or assessment against Mortgagee up-
on this A'iortgage or the det,t secured hereby, that the entire indebtedness secured by this Mortgage shall thereupon IM-
come immediately due and 1><•?yable at the option of Mortgagee.
5. To keep the Mortgaged Prol,eriy insured against loss or damage by fire, and all perils insured against by an ex-
tended rnver.+ge endon?ement, and such other risks and {,evils as Mortgagee in its discretion may require. The policy or
policies of such insurance shall be in the [orm in general use from time to time in the 1«•ality in -which the Mortgaged
Property is situated, shall be in. such amount as Mortgagee may reasonably require, shall he issued by a comlu+ny or
companies approved by lliortgagee, and shall contain a standard mortgagee clause with loss payable to Mortgagee. When-
ever required by Mortgagee, such policies, shall be delivered immediately to and held by Mortgagee. Any and all amounts
received by 114ortg:+gee under any of such policies may be applied by A4ortgagee on the indebtedness secured hereby in such
m:+nner as Mortgagee may, in its sole discretion, elect or, at the option of Mortg:+gee, the entire :+mount so received or any
ik•+rt thereof inay be released. Neither the nl,plication 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 111ortguged Prol,erty or any I,:+rt them-
ot by Alortgagee, such lwlicies shall become the absolute property of Mortgagee.
6. To first obtain the written consent of Mortgagee, such consent to t,c granted or withheld at the sole discretion of
Mortgagee, before la) remo~~ng or demolishing auy building now' or hereafter erected on the premises, (b) altering the
arrangement, design or structural character thereof, (c) making any relu+irs which invoh•e the removal of structural parts
or the exposure of the interior of such building to the elements, (dl cutting or removing or permitting the cutting c+nd re-
moval of anv trees or timber on the Mortgaged Property, (e) removing or exchanging any tangible personal property which
is part of the Mortgaged Property, or (f) entering into or modifying any leases of the Mortgaged Prol,erty-
7. To maintain the Mortgaged Property in good condition and relk•?ir, including-but not limited to the making of such
repairs as Mortgagee may from time to time determine to he necesw-+ry for the preservation of the ~1ortgaged Prol,erty and
to not commit or permit any waste thereof.
8- 'To comply with all laws, ordinances, regulations, covenants, conditions and restriMions attec•ting the Alortguged
Property, and not to suffer or hermit any violation thereof.
9. if Mortgagor faits to l,:+y any claim, lien or encumbrance which is sul,erior 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 hermit waste, or if
there be commenced any action or proceeding affecting the Mortgaged Prol,erty or the title thereto, or the interest of
Mortgagee therein, including, but not limited to, eminent domain :+nd bankruptcy or reorganiz+tion pr«•eedings, then
tilortgagee, at its option, may l,:+y s:+id claim, lien, encumbrance, tax, :+ssessment or premium, with right of subrogation
thereunder, may make such repairs and take such stets as it deems advis:+ble to prevent or cure such waste, and may
appear in any such action or proceeding and retain counsel therein, and take such action therein as Mortgagee deems ad-
visable, and for any of such purposes Mortgagee may advance such sums of money, including all costs, reasonable attorney's
fees and other items of expense as it deems nec•ess:+ry. Mortgagee shall he the sole judge of the legality. validity and priority
of any such claim, lien, encumbrance, tax, assessment and premium and of the :+mount necessary to be p:+id in satisfaction
thereof. Mortgagee shall not be held accountable for any delay in making any such payment, which delay may result in
any additional interest, costs, charges, expenses or otherwise-
10- Mortg:+gor will lu+y to !~lortgage•c•, immediately and without demand, all sums of money advanced by :1ortgagee
to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's fees and other items of
1 expense, together with interest on each such advamement at the highest lawful rate of interest l,er annum in the State of
~ Florida, and all such sums and interest thereon shall be scY•ured hereby.
11. Alt sums of money secured hen•Iw shall t,c• {kn•able without any relief whatever from any valuation or appr.+ise-
meat laws.
l2. If default I,e made in payment of any inst:dment of principal or interest of the Note or any part thereof when
due, or in payment, when due, or any other sum secured hereby, or in l,ertormanc•e of any of 1~'Iortgagor•s obligations, coven-
ants or agreements hereunder, all of the indebtedness secured hereby shall become and he immediately due and payable at the
option of ortgagee, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itself
of all righ~ and remedies, at law or in equity, :+nd this Mortgage may be foreclosed with all rights and remedies afforded by
the laws of Florida and Mortgagor shall pay all costs, charges and expenses thereof, including a reasonable attorney's tee,
~ including all such costs, expenses and attorney's fees (or any retrial, rehearing or appeals. The indebtedness secured hereby
shall bear interest 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
extenses in collecting and servicing such instalment {xryments.
13. If default I,e made in payment, when due, of any indebtednes secured hereby, or in performance of any of
~1ortgagor•s obligations, covenants or agreement hereunder:
n=
Ia1 Mortgagee is authorized al any time, without notice, in its sole discretion to enter ul,on and take possestiion of
_ the 11Tortgaged Yrot,erty or any part thereof, to perform any acts Mortgagee deems necessary or proper to conserve the
security and to rnllect and receive all rents, issues and profits thereof, including those past due as well as those acrn+ing
therealter: and
s:
(h) Mortgagee shall I,e entitled, as a matter of strie•t right, without notice and exparte• and without regard to the
value or oce•upancy of the security. or the soh•enry of Mortgagor, or the adequacy of the 1ltortgaged Property as security for
the Note, to have a receiver :+pl,ointed to enter utx,n and take l,ossession of the Aortgaged Property, rnllect the rents and
profits therefrom and apply the same as the e•ourt may direct, such receiver to have all the rights and tx,wers permitted -
- under the laws of Florida. _
In either such case, Mortgagee or the receiver may also take lwsseasion of, and for these purposes use, any and all
f,erw,nal pro{,erty which is a lkart of the Mortgaged Prol,erty 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 coml,ensationl incurred pursuant
to the powers herein contained shall he secured hereby. Mortgagee shall latter payment of all costs and expenses incurred)
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