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Home My WebLink About0495 • nr~•uunt to ~?:~y ,w•h ~~hur~;~•. ~vh~~n dui• sh:~il i~ ~~;ud by Alurtga~;or tu Murt~;:~~;~~~ un d~•m:iad. I(. by n•:~sun ul :~ny drl:iul~ by htortx:igor under any pruvision ut this MuetKuge, Alortgug~~e declurrs a~ll +unis ru~c•un~1 herrby to i~e due und p:~y.~hli~. MortKaKre m:~y Ih~~n apply any tunds in sc:iid ui•count against ihe ~•ntim indebt~~clnes.ti ~x~•un~1 h~•reby. 1'he• c•n(on•eubility o( the ih~rnanta rnlutinR to t:IYQR, usxesvnients and iosuninrn premiumei herein otherwi4e pmvided shall not he altectecl exc~pt inso(ur us thoae obliKutiona huve t?c~rn met by complian~r with this ~?nragn~ph. MortgAgee ma~y (rom time to lime :~t its ~~ption waive, .~nd utter uny auch wniver rrinstule, nny or a?11 provisic~ns hereof mquirir~ euch de~x?sits, by noti~r to \lortg:iKor in writinR. Whi1P nny such wai~•t~r is in ~(1~•t. AloMKs~go~ shaU EH+y taxe:~, as~u•asments eind insurnn~r premiums a, herein elsewhcrn provided. a. To promptly ~~:~y all laxes :u~d a~u:Umrnts .~~u:+.+c~rl ur le~'ii•d under .~nd bv viriur of tiny at:~te, f~~leml, ur muni~•iµd law or te~Cul.~tion herratter {k~s4ed, ag.iinst 111ortgagre u{wn this Alortguge or the debt l~emhy ~•und, i~r u{x~n ita interrst undrr this Mortguge, pro~•ided how~ever, lhat the tot.~l umuunt so ~xiid (or t~ny such tuxes pursuunt to this ~wr:~Kruph togeth- er w•ith the interc~t ~?:~yable bn said indebtecln~~ ~Ju~ll not rx~tircl the highrst luwful r.~te o( intemsl in Florida and providr~l iurther lhat in the c:~~~ nt ot the {MSw~Ke o( uny such luw or mKulation im{wsinK a tt~x or .~~~mrnt :~Kainst [?lortRagee up- u~i thi, \1ortK:ixt• or thN debt scr•urc~cl 1?rmby, that the entirr indebtc~ln~~s~ w•rurc~c~ !:y this 1~1ort~;aRe shsill th~•rc•u~N~n IH.. cume immeciiatelv due and ~u~yuhle a~t lhe option ot MorigaKee. fi. 1'o keep the 41ortga~gcd Pro{~erty insured :?gainst Icu~ or damuRe 1?y fim, und all ~~erils insured .~R.iinst by :in ex- tended co~•er.iRe endorsement, and such other risks and ~ierils as Mortgagee in its discretion may require. 'I'he ~?oli~•y ur ~K~licieez ot such insun~n~•e shall be in the (orm in Keneral ~i~e fmm time to time in the loc<ility in which the Mortg.~Keci Pro{~rrty is situutecl, shall be in such :~mount as Alortg.~K~~ may nasonably t~'quire~, shall F?e i5.4ueKl by a~•om~?:~ny or comp:~nies appro~•ecl by hlortgugre, and shall co~tain a slandanl mortRag~v clause with loys {xryable to A1urtg:igee. When- e~•rr reyuired by 111ortgugcr, such E~olicies, shaU t?e deli~~erc~d immediately to and held by Mortgagee. Any artd aU amounts re~rived by Alortgagre under any of such {~olicies m:~y be apNlicKl t?y MortR:~Kee on thr indebtednesti ~~.•ured hemby in such m.~nner as Alortga~ee may, in its ~ole~ discmtion, elect or, al lhe option of 1~lorlga~ee, the entin amount so rcti•eivcd or any part thereof mxy 1>e nle.~sed. Neither the upplication nor the release of any such amounts sht~ll curn or waive .~ny default. Upon exercise of the ~wwer ot s:~le gi~en i~ this A1ortRaRe or other a~Y~uisition ot thr \TortgaR~~ Pro~x rta or any part them- of hy Mortgager, su~•h ~?oli~•i~s sh:~ll hcti~me the :~tnolute pro~~rty of ~tortRaRc~e. - 6. To tirst obtuin the N•ritten i~onsent of 141ortKaK~~~, su~•h conxnt to IM ~rantrd or withhrld at the sule diu'retiun ol \lortg~gcr, tx~tore 1.~) ~emo~•inR or demolishinK :~n~• buildinR nuw or hen•aftrr erreted on the premi+e,r•, Ibl alterin~ the arr.~nKement, desiQn or structuril character themof, making :iny repairs K~hic~h im•ol~•e the mmov.~l of stru~•tural {~:+rts or the ex~wsure of the interior of such buildinR to the elemenfs, ld1 cuttinK or mmo~~inR or permittinR the cuttinR and re•- mo~~:~l of .~ny trees or timber on the I14oHgaRed Pro~~erty, (e) removin~ or exchan~inR :+ny t:~nQible ~~erson:il pro~~erty whi~•h is ~~:~rt of the A1ortKage~cl Pro~x~rty, or enterinK into or moctifying am• lease~ o( Ihf~ Mor1KaK~~c1 Yro~x•rty. 7. 7'o maintuin the 111ortK:~~c~f Pm~?erty in K~wci ~•ondition and mpair, ini•I~din~; hut not limitcvl tu the m:~kinR o( such rt•p:~in :is :~1ort~aKcr ~n:~y irom time to time determine to 1?c~ nctirkc:~n• tor the prrsc~n•ation n( the :~1~rtR:+Recl Pm~~erly ar?d to not rommit or ~~rmit :~ny K•aste themo(. _ 8. 'I'o ~•omply N•ith all law•s, ordinancrs, mgul:~tions, c~.~•enantv. i•undilions :?nd restrii•tions alle~•tinR the \tort~uREY1 1'ro~;erty, und not to sutfer or ~x•rmit :u~y ~'iolatiun thereo(. 9. It \fort~;:?gor f:~ils to p:ry any c•laim. lien ur c•n~•umbrani•e whii•h is su~x•riur to this \torlk:~K~•. or when due. :~na t:ix ur assc~~s~nent or insur:inre pmmiwn, or to krep the :~1ort~aKcd Pro{~erty in repair, or tihall commit or ~~ermit waste, or i( iherc Tx• ~~ommeni•c~l any ai•ti~~n or pnK•eedinR affectin~ the \4ortg:~ged Pro~~erty or the title ihereto, or the interest ot ~1ort~;:lKee fh~•min, includinK, but nut limited to, ~~mint~nt domain :~nd bankruptcy or reorK~+niz:+tion proceedings, then \1ort~:~Kc~e, at itc oEftion, may p~y s:~id claim, lien, eni•umbrance, tax, assessm~•nt or premium, H~ith right of subroKation Ihe•reunder. may makt~ such repairs :ind take su~•h steps it dEY~ms :~d~icihle to pm~~~nt ur ~vrt~ su~•h ~~aste, and m:?y -.?ppear in an~• such action or prcx•eeding .~nd retain c•ounsel therein, and take such .irtion therein as I~lurlK:iKee d~.~cros .~d- vise~ble, and (or a~y of such pur~w.ties 1~tortKa~ee m:iy ad~'.ince such sums of money, in~•ludin~ all i•osts, reusonable attorney's i (res and other items of ex~~ense as it deems necc~uy. MortgaRee shaU l~e the ~le judRe of the IeRality, validity and priority ~ u( any such ~•laim, lien, encumbrance, tax, assessment .ind premium and of the amount necessary to be ~k~id m satis(:~ction ~ thereof. MortgaKc~e sh:~ll not t~ held ai•countabl~ tor any delay in makinR any sui•h {~yment, whi~•h delay may result in ~ ~ any additional intercwi, ~•osts. ~•har{~c~, rx~xn~s or otherw~+t~. i 10. ~tor1K:~Ror ~~~ill p:~y to \lortg:~~;e~t•, imme~di:d~~ly and «~ithout demand. :~II sums of muney ad~:~nced by ~lurtk~~Rc~• 3 to protect the serurit~• hereof pursuant tu th~s ~1ortkaKi•, includinR :dl ~~~~sts, reawnable atbrney~s te~w and uther items of s ex{~ense, toKether with intere~st on ea~•h su~•h ad~•.?ncement at ihe highest I.iw~ful rate ~f intere~t {x~r annum in the St:itt~ oF Flnrid:i, :~nd .~ll su~•h sums and int~mst t#~ereon sh:~ll ir~~ scr•umd henh>•. ~ 11. All sum~ n( mon~~• ~e~•umd h~•r~•h~- sh:~ll Ix~ ~~ayahle withouf any mliel «hate~rr trom :~n}• ~aluation or :~ppr.~isc• . s- . . . a~[ ;'+r' ;~}4~' ~ ma•nt 1:~~.:~. . ~ 12. If deL•tult lie made in ~r.~yment of any imta~lmrnl u( prin~•ip:~l or interest ~~f ihe Note'of'eN(!~'~t thereof wheu ; due, or in payment, w~h~n due, or any other sum ,ecured hert~h~•, or in {krr(ormhnee o( any of Mortg~iRoia'obli~n(iprre~~~'en- ~ ant~ or:~~reements hereunder.:ill o( th~• indehttYlnE~~.ti secvrc~cl hert•hy sh:~ll txvome and be immedi:ilely due .ind pay.il~le at thc ~ ~~ption of T1ortRaKc~. w•ithout notic-e or d~~mand ~chi~•h :~re herebq expres~ly ~~aised, in which event Mortga~ee may m:~i) itsell ~~t all nRhts and remc~dies. at law or in ~~yuity, and thi~ \tort~aRe ma>• 1?e iomclo~d ~~•ith all riRhts :ind mmetlic~ nfforded by the I:nvs of Florid:i :~nd \tort~aKor sh:~ll p.~y all co,ts, ~•harKes and ~~x~~enses therent, in~•IudinR a m:~~n.~ble attorney~'c fc~c~. ~ inc•ludinK all such costs, ex~x~nses :~nd attorney~'s f~~c~s (or any retrial, rehearinK or u~~~x.~ls_ The indehtedne`; ~E~-urc~d ht~r~hy y shall t,~ar intcr~st .~t the hiRhest la~cful rate of int~•rest ~?Pr annum in the State of Florida from and :~fter the date of :in>- ~ su~-h cic•(ault of 114ortRaRor. I( the Note pro~•idc~ for instalment payments, the MortRaKee m:~v. s~t its option, e•ollec•t a late r charKe nui ~O P%l'E'P(I ~N'O crnts for e:u•h one if~~llur m~t paid to th~ 11ortRaKee ~hen due, to r~~imbursr tht~ ~tortK:~Kf'~' for ~ ex~~enw~s in i•oll~i•tinR :~nd sc~n~icinR su<•h instalment p:i~~m~•nts ~ l:t. If default tx~ mac3e in paymrnt, when due. of an~~ indehtednc~s ~e~•umd her~•by, ~ir in ~~rtnrm:~n~~c• of :~n~• ~~t ~iort{;aKor'ti ohliKat~ons, co~~enants or :iRrec•ment hereunder: ~ . ~ (al 11ortRaRee is authorizecl at any tim~~. without ~oti~•e. in it~ snle discretion to enter u~x~n and tvkc• ~x~rs~•a,iun of thi• ~tort~aRed Pro{~erly or am• part there~f. to Ex~r(orm an}• acts ~1or1K:~Ke~ dc~e•mc nF~•c~cc~ry ~r pm~~r t~ ~•~msen•e thc• securih• and ta ~-olle~~t :~nd mcei~e :dl rents, ikcu~~ and profits thereo(, includinR tho~ p:?st due as K'ell :~s th~~u~ arcniiwF thereatter: and Ih1 ~inrt~:~Qee ~hail fie entitl~~1, nti a mattc•r of stri~•t ri~ht, without notice and Fxparte, and w•ithout reKard to the ' ~:ilue or oc~~•upancy o( fhe se~•urity, or the soh~eniy ot ?~1orlKaQor, or fhe adc~yuarp of the lUortRaKed Pm~rerty as ~~uritV (or the NMe, to h:~~•e a recei~er ap~>ointed to enter u~?on and tak~ ~x~ssc~.sion of the I11ort~aRed Property, co~lect the rents and prutils thPrefrom and apply the ~:ime as thc• ~•ourt m:~y dirc~~•t, suc•h re~-ei~•er to h~~•~ all the riRhts and ~xiw•ers ~?ermitted under fh~• I:~ws of Florida. In either su~•h c:+se. ~1ort~aKee or the recei~~er m:~y :~Is~r take {~ssessiun ot. :ind (or thE>~ pur~wsc•s use. :~ny and all ~ ~x>rson:d pro{K~rty w~hich is a~~art of the MortgaQc~l Pro~?erty and u.ged by hlortKaRor in the rent~l or IeasinR there~of or :im• p:~rt therc~f. Th~• ex~mn~ lincludin~ recei~•er's fcrs. ~~cwnsel (ees, costs and a~ent's com{~en~~tion) incurred pursuant r~ ~ to the pnw~erx herein contained shall be secured hereby. MortqaAee shall lafter pat~ment o( all ~osts and expenses incurreci) ~ l' - -2- gORX ~~7 ?AGE ~9~ ~ _ 9 : ~ ~~T ~ ~ . . x