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HomeMy WebLinkAbout0733 i t ~ ai•cuunt to ~u?y such churgra when due shall I~e ~Hiid hy Mortgugor to Mortgugcr~ on de~»u~d.~ If, by ceau,n ot any default hy Mortgi~gor under uny provision ot thia Mu~tgnge, Mortgagee decla~es nll suma secured hereby to I~e due und puyAble, ~~o~e+~6ee ~Y ~hon apply any tunds in ee~id accou~t ngainst the entire indebted~ess secured heoeby. The en(omeabilily of the c~ovenunta relnting to taixea, usaexssmenlu and ipaurunce premiuma herein otherwise provided shull not be at(ected except insotu~ as those obligationa huve been met by compliu~ce with this pa~graph. Mortgagee ms~y trom time to time ut its option waive, and after any such wai~~er reinstnte, uny or att provisions hereot requiring such de~x>sita, by notice to Mortgugor in writing. While nny such wai.•er ia io e(fect, hlortgagor ahull pay tuxea, asses~rnenta and insurance premiums a~s herein eleawhere pcovided. 4. To promptly }wy aill taxes and i~secxamenta .issesaei~ or levied under and by virtue ot uny state, f~der.d, or munici{uil ~ law or regulution herea(ter pusaed~ against I~lortgiigee u~~on this Mortgage or the debt hereby secured, or upon its interc~?t ~ under tbis Mortgage, pro~•ided however, ttuit the tolal amount sso paid tor any such ta:ex pursuant to this paragn~ph togeth- er with the intereat payAble on said indebtedness ahall not exceed the highest luwlul rate ot inlerest in Florida and {~rov~dc-~1 further tFwt in the event of the passage ot any such law or rngultition imNoxing a/ax or ussessrr.ent :~gainst Mortgagee up- on this Murtgage or the debt secured hereby, that the entim indehtedneas securnd by lhis MortRaRe shnll ihernu~wn t~e- cume immediately due and ~~yable nt lhe option of Mortgagee. 5. To keep the Mortg~ged Properiy insured against loss or damage by firn, and all ~~erils insured ug.~inst by un ex- tended covernge endoraement, and such other risks ~nd ~~erils as MortguRee in its discretion m:~y require. 'Che poliry or policiea oi such insurance shall be in the form in general use from time to time in the locality in whi~•h the MortRaRed Property is situated, shall be in such amount ~s Mortgagee may reasonably require, shall be issu~d by n company or comEuinies approved by Mortgagee, nnd shall contain a standard mortgagee clause with loss pnyable to Mortgagee. When- ever reyuined by Mort~agee, such policies, shall be delivered immedintely to and held by Mottgagee. Any and all amounts received by Mortgagee undet any of such policies may be nE~~>lied by Mortg~gee on the indebtedness secureci hereby in such munner as Mortgagee may, in its sole discretion, elect or, at the option of Mortqxgee, the entirn nmount so received or any part thereot may be rnleased. Neither the ~pplicatio~ nor the rnlease of :~ny such nmounts shall cure or waiee nny default. Upon exemise of the power ot satP given in this MortgEige or other acquisition of the 111ortRaRed Pro~~erty or any ~~.~rt lhere- of by Mortgagee, such policies ahall beeome the nh~olute pmperty of Mortgagee. 6. To first obtain the written consrnt of Mortgagee, such con~nt to he R~anted or withheld :~t the ~le disc•mtiun uf Mortgagee, be(ore-(a1 removing or demolishing any building now or hereaiter ere~•teci on the pmmises, Ib1 alterinR the arrangement, design or structural character thereof, (c) making any repairs wt~ich involve the removal oi structural parts or the exposure oi the interior o( such building to the elements, Id? cutting or removinR or permittinR the c•uttinR :and re- moval o( any trees or timber on the Mortgaged Property, (e) removing or exchanginR .~ny tangible persontil pro~rty whi~h is ~~art of the MortgaRed PropeHy, or (t) enterinR i~to or modifying any leases of the MortRaRed Pro~~erty. 7. To m~intain the Mortgaged Properiy in good cond~tion and repair, ine•luding but not limited to the makinR ot such re{~:~irs as Martgagee may from time to time determine to be necesgary for the preservation o( the MortR:~ged Yroperty s~nd to not commit or ~~ermit any waste thereo(. S_ To comply with all laws, ordinances, reRulations, covenants, ~•onditionc and restrictinns attec•tinR the 1~'IortRaRc~l Pro~~erty, ~nd not to sutfer or ~~ermit :~ny ~•iol:~tion thereof. 9_ It Mortg~gor fails to ~k~y any cl~im, lien or encumbram•e which is su~~erior to this 111ortRaRe, or N~hen dur, any t~x or a~ment or insurance premium, or to krep the Mortgaged Property in rep:~ir, or shall commit or ~?ermit waste, or if there be commenied any action or proi~eeciing aftecting the MoHguged Property or the title thereto, or the interest of Mortgagee therein, including, but not limited to, eminent dom:iin :ind bankruptcy or reor~anization proceedi~Rs, then Mortgagee, at its option, may pay said claim, lien, encumbrance, tax, assesgment or premium, with riRht of submRation thereunder, may m.~ke such m~xiins and take suc•h ste~~s as it deems ad~~is:~ble to pre~•ent or cure suc•h w•aste, and may ap~~ear in any surh aclion or proceedinR and ret~in counsel therein, and take such action therein as AtorlRaRE~e deems ad- visable, and for any of such pur~~oses 111origagee ma~ advance such sums of money, including all costs, reasonable attorney's fees and other items of ex~~ense as it deems necessary_ 11lort~agee shall t?e the sole judge of the tegality, ~•alidity and priority of any such claim, lien, encumbrance, lax, assessment and premium und of the amoant nececsary to be paid in satis(aclion thereof. 141ortgagee shall not be held .xY•ountable for any delay in makinR any such ~~pment, which delay may result in :uiy additional interest, eosts, cFuwrges, expenses or othern•ise. ~ 10_ MortgaRor wi1) ~k~y to Mort~aRee, immediately and without demand, all sums of money ad~:~nc•eci I~y MortRaRee ' to protect the security hereof pursuant to this Mortgage, includinR all i•osts, re:?.sonable attornev's tees und other items of I expense, together with interesl on eac•h such :~dvancement at the highest lawtul rate of internst ~~er annum in the St~te ot E Plorida, and all such sums and interest thereon ehall F?e cecured herehv. 4 11. All sums o( money sei•ured herehy shall I~e ~k~yable w•ithoW any rc•lief whate~~er fmm any ~aluation or :~ppr.~ise- i ment laws. t ~ 12. If de(ault t?e made in ~~ayment of :iny insl:ilment of princi~~:il or interest of the Note or any part thereo( when ~ due, or in paymenl, when due, or any other sum secured hereby, or in ~~er(ormance of any of hlortgagor's obligations, coven- ~ ants or agreements hereunder, all ot the indebtedness secured hereby shall I~ecome and be immediately due and pay:~ble at the ~ option of 111ortgagee, without notice or demand w•hi~•h are hereby expressly waived, in which event Mortgagee may a~•ail itself ot all rights and remedies, at 1aw or in equity, and this l~tortgage may be toreclosed with nll riRhts a~ed remecfies a(forcied by the laws of Florida and AlortgaRur shall ~kiy all cosls, charges and expenses thereo(, includinR re:~sonable attorney's tee, ~ including all such costs, ex~~enses and attorney's [ees for any retrial, rehe.~rinR or appeals. The indebtednev~ secured hereby shall bear interest at the hiRhest lawful rate of interest per .innum in the State oi Florida fmm and atter the d:~te o( any ~ such default of MortqaRor. If the Note pmvidea (or instalment ~k~yments, Ihe A1ort~a~ee may, :~t its option, collec-t a late ~ char~e not to e:ceed two cents (or each one dollar not ~~aid to the 111ortRa~ee when due, to reimburse the A1ortRa~RPe for ~ ex~~enses in collectinR and servi~•ing such instalmeni payments. ~ $ 13. If default be made in ~u~yment, w•hen due, of any indebtednecs sec•ured herehy, or in performance o( an~~ qf x MortRagor's obliQations, ~•ovenants or .iKreement hereunder. S I.il MortgaRee is authorized at any time, without noti~•e, in its sole dis~•relion to enter u~wn and take ~?o~session u( - the Mortgaged Pro~~erty or any parl thereof, to ~~er(orm any arts AtortgaRee deems neces,sary or pmper to i-onsen•e the " security and to collect and re~~ei~~e a11 rents, is~ue~ ~nd profits therc~f, inclodinR those past due as w~ell ac those acrruinQ z thereafter: and ~ Ib) MortgaRee shalt be entitleci. as a.m.itter ot strict right, without notice and ex{k-~rte, and without regard to the ~ ; - value or occupancy of the sec•urity, or the soh•ency of A1ort~agor, or the adequncy ot the MortRaged Property as security (or Y ; the Note, to have a rec•eiver ap~winted to enter upon and take posseagion of the MorigaRed Property, collect Ihe rents ancl ~ profits themirom and apply the same as the court may direct, such receiver to ha~•e all the rights and {x~wers permitted under the laws of Elorida. In either such case, Mortgagee or the receiver may also take {>ossession o(, and tor these purposes use, any and all ~~ersonal pro~xrty which is a part of the biortgaged Property and used by Mortgagor in the rental or leasing thereof or ~ any part thereof. The expense (including receiver's tees, counsel (ees, coats a.nd agent's compensation) incurred pursuant r to the powers herein containcd shall be secured hereby. btortgagee shall (a(ter payment of all costa and expenses incurreci) ~ § _ ~ - ~ '2- ~ E ~A ~ / ^ k~ ' N~J~~ V~I~ rl~~'. ?VIr . ~ ~ . ~ ~a'F'_: , ~ ~ .