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account to fx+y such charges when due shall he fu?id by Mortgagor to Morlgugm on demand. If, by n•asun of any default
by Mortgagor under uny pro.°ision of this Mortgage, Mortgagee declares all sums s+x•ured hereby to he due and fu?y:+bl?•,
Mortgagee rr+:?y then apply uny funds in s:+id account :+guinst the entire indebtedness secured hereby. The enfon•eahility of
the cuven:?nts relating to taxes, assessments and insur.?ncr premiums herein otherwise provided shall not l?e uffec•ted except
insofar :?s those obligations have been met by compliance with this fwragruph. Mortgagee may from time to time :?t its
option waive, and utter any such waiver reinstate, uny or all provisions hereof requiring such defwsils, by notice to
Mortgagor in writing. While uny such waiver is in effect, Mortgagor shall fray taxes, assessments and insur?nc•e premiums
as herein elsewhere provided.
4. To promptly pay all taxes and :r_ssessments :~~x-+s?'+1 or levied under and by virtue of any state, 1?y1rr.+1• or munii•if?:?1
law, or regulation hereafter p:?ssed, against Mortgagee ufwn this 1~lortguge or the debt hereby stK•until, or ufwn its interest
under this Mortgage, provided however, that the total amount w fr.?id fur any such taxes pursuant to this par.++;ruph tugrth-
er with the intemst f>:+yuble on s:?id indebtedness shall not excYrd the highest lawful r.+te of interest in Fluridu and provided
further that in the event of the fx?ss:?ge of any such law or regulation imfxsing a lux or assessment against Mortgagee up-
on this 1\lortgage or the debt secured hereby, that the entire indebtedness see•ured by this Mortgage shall thereupon Ix•~
come immediately due and fr.?yable at the option of Mortgagee.
i. To keep the Mortgaged Property insured against loss or damage by fire, and all fx•rils insured against by an ex
tended e•over.+ge endorsement, and such other risks and f+erils as blortgager in its discretion may n•quire. The f+o6ry or
policies of such insur.+ner shall be in the form in general use from time to time in the lcx•ality in which the MortgageKl
Property is situated, shall I,e in such amount as Mortgagee may reasonably require, shall be issued by a company or
companies approved by I1lortgagce, and shall contain a st:?ndard mortgagee clause with loss payable to Mortgagee. When-
ever required by htortgugee, such frolicies, shall l,e deliven•cl immediately to and held by Mortg:+ger•. Any and all amounts
received by Mortgagee under any of such )wlicies may he applied by Mortgagee on the indeMedness secunrl hc•reh}• in such
m:?nner as Mortgagee may, in its sole discretion, elect or, at the option of htortgagce, the entire amount so ree•eivecl or any
part thereof may t,e released. Neither the application nor the release of any such amounts shall cure or waive any default.
Upon exen•ise of the fwwer of sde given in this Mortgage or other acquisition of the Mortgaged Profx rty or uny p:?rt there-
of by Mortgagee, such {wlicies shall become the al,solute pmf+erty of Mortgagee.
6. To first obtain the written consent of Mortgagor, such consent to t,e granted or withheld at thc• wle diu•retiun of
Mortgagee, before (a1 removing or demolishing any building now or hen•after erevted on the premises, Ib1 altering the
arrangement, design or structural charncter thereof, (c) making any repairs which im•olve the mmo~:?1 0( structural parts
or the exfxsure of the interior of such building to the elements, Id? cutting or removing or f+ermitting the cutting and re-
moval of anv trees or timber on the 1\1oHgaged Property, Ie) removing or exchanging any tangible Ix rsonnl prof+erty which
is fx+rt of the Mortgaged Property, or If) entering into or modifying :+ny le:uses of the I\lortgaged Property.
'1'o m:?intain the Mortgaged Property in good e•ondition and refwir, including but not limited to the making of sue•h
rep:+irs as Murigsgee may from time to lime determine to t,e access:+ry for the prese•n•ation of the Mortgaged Ymperty and
to nut commit or f+ermit any waste thereof.
K. To comph• with all laws, ordinances, n•gulalions• ,•o~rnants, conditir.ns and restrictions a(fevting the, MortKaged
Pmlx•rty, and not to suffer or {,ermit any violation thereof.
9. It Mortgagor tails to p:n• any claim, lien or encumbr,+nce which is sufx•rior to this tit:u!gage• or when due, :u+>• tax
or a~•sessmenl or insur.?nce premium, or to keep the Mortgaged Pmf+erty in ny,air, or shall commit car pern,ii w:?ste, or if
there !,e commenced any action or proceeding affecting the Mortgaged Property or the title thereto, or the interest of
hortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganiz:?tion pmc•eeclings, then
Mortg:+gee, at its option, may p:+y s:?id claim, lien, encumbramr, tax, assessment or premium, with right of subrogation
thereunder, may m:?ke such repairs :and take such steps as i! deems advis:+ble to prevent or cure such waste, and may
appear in any such ae•tion or pra•eeding and retain counsel therein, and take such action therein as Mortgagee deems ad-
visable, and for any of such purfx,ses 111ortgager 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 t,e the sole judge of the legality, validity and priority
of any such claim, lien, encumbr.+nce, t:+x, asse_ssment and premium and of the amount necessary to be paid in satisfaction
thereof. Mortgagee shall not tx held :uruuntable for any delay in making any such payment, which dela}• may result in
any additional interest, casts. charges, cxfx•nses or otherwise.
I 10. Mortgagor will pay l0 1~lortgaKe•e•, immediately :+nd without demand, all sums of money advan+•ed by Mortgagee
~ to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's fors and other items of
I
1 expense, together with intemst on each such advancement at the highest lawful rate of interest fx•r annum in the State of
! Florida, and all such sums and interest thereon shall I,e se+•ured hereby.
~ 11. All sums of money soured her+•hy sh:+ll Ix• payable w•ilhout any relief whatever from any v:Juation or appraisc•-
m+•nt laws.
3 1`l. If default IK• made in payment of soy instalment of principal or intemst nt the Note or any part then•c,l when
due, or in payment, when due, or any other sum sc-c•ured hereby, or in pcrformanc•e of any of Mortgagor's obligations, c~ven-
ants or :+greements hereunder, all of th+• indebtedness secured hereby shall t,ecome and be immediately due and payable at the
option of Mortgagee, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itself
of all rights and remedies. at law, or in equity, and this Mortgage may he foreclosed with all rights and remedies afforded by
the laws of Florida and Mortgagor shall pay all costs, charges and expenses thereoi, including a re:+sonable attorney's fee,
~ including all such costs, exfxnses and attorney's fees for any retrial, rehearing or npf+eals. The indebtedness secured hereby
shall bear interest-at the highest lawful rate of interest f,er annum in the State of Florida from and titter the date of an}•
! such default of Mortgagor. If the Note provides for instalment payments, the A1ortgagcr 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 n•imhurse the Mortg:+l;ee for
expenses in collecting and servicing such instalment payments
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3 13. If default I,e made in fu+yment. when due, of any indebtedness secured hereby, or in perforn+ance of any of
Mortgagor's obligations, c•ovenanis or agnrment hereunder:
s
r I:?) 1Llortgagee is authorized at any time, without notice, in its sole discretion to enter ufx,n and take fx,rsc•ssion of
the Mortgaged Property or any pari thereof, to perform any acis Mortgagee deems necessary or prober to c•onsen'e the
sec•urily and to collect and ree•eive all rents, issues and profits thereof, including those p:+st due :?s well :+s those, acrruinQ
thereafter: and
Ib? Mortgagee shall be entitled, as a matter of strict right, without notice and exparte, and without regard to the
I value or occupancy of the security, or the solvency of 1\lortgagor, or the adequacy of the Mortgaged Property as security for
the Note, to have a reveiver apfx,inted to enter upon and take passession of the Mortgaged Property, collect the rents and
profits therefrom and apply the s:+me as the court may direct, such receiver to have all the rights and f>owers permitted
under the laws of Florida_
~ In either such case, Mortgagee or the receiver may also lake frossession ot, and for these purfx,ses use, any and all
personal pmfrerty which is a part of the Mortgaged Property and used by 1~lortgagor in the rental or leasing thereof or
any part thereof. The exf+ense lincluding receivers fees, counsel fees, costs and agent's comfiensation) incurred pursuant
to the powers herein contained shall be secured hereby. 1lfortgagee shall latter payment of all costs and expenses incurred)
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