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Home My WebLink About1606 . ~ . "~1 ~ ~ : account to pay such charges when due ahall be paid by Mortgagor to Modgagee on demand. !f. by ceaeon ot any de(sult by Mortgagor under a~y p~ovision of this Mort6age. Mortgagee deciar~ aU sums secured hereby to be due and payable, Mortaasee may then apply eny tunds in said account saainst the entire indebtedne~s secured hereby. The en[orceability ot ths covenant~ relatina to taxes, euesemen4 and insurance premiuau bereir? othetwiie provided shall not bs attected e:cept insotar a~ tho~e obli~ations have been met by complianoe with this paragrapb. Mottsa6ee may trom time to time at ib option waive~ s~d atter eny such wai~~er reirutate, aay or aU proviaions hereoi requirina such deposits~ by notice to Mortaagor ia writins. While any such waiver is i~ ettect. Mortgegor shall pey ta:ea. aaeamenta and inaurance premiuaw as herein el~ewbere pe~ovided. . 4. To promptly pay all texea and aaseasmenb aasemed or levied under and by virtue ot any state. federal, or municipal law or re6ulation t~ereattar pa~sed. against Mortgagee upon thia Mortaage or tl~e debt bereby secured. or upon ib interest under this Mortsage, provided however. that the tolal amount so paid tor any such taxes pursuant to thia parngraph togeth- er with the intereat peyable on eaid indebtedneea shall not esceed the hi~heat law[ul rate ot interest in Florida and provided turther that in t6e event o~ tbe paaage ot any such law or regulatioa imposin~ e- ta: or as~awnent against Mortgagee up- on this Mor4gage or the debt secured hereby~ that the entire indebtednew ~ecured by thu Mortgage shall thereupon be- come immediatdy due and payable a! tbe opti~n of Mortgaaee. - . 5. To keep the Mortaaged Property insured aaainst loss or damage by fire, and all perils insured againat by an ex- tended rnverage endorse~aent, and such ot6er risks and perila aa Mortaegee in ib discretion may require. The policy or policiea ot such insurence ehall be in the totm in general use trom time to time in the locality in which the Mortga6ed Property ia situated, a6a11 be in surh amount as Mort;agee may reasonably require, ahall be iisued by a rnmpany or companies approved by Mortgagee~ and shall contain a atandard mortgagee clause with loes payable to Mortgagee. When- ever required by Mortgagee~ auc6 policiea, ahall be delivered immediately to and held by Mortaaaee. Any and all amounta received by Mortaa~ee under any of suc6 policies may be applied by Mortaa6ee on the indebtednea~ secured hereby in such manner as Mortgagee may, in ita sole discretion, eleM or, at the option ot Mort6asee, the entire amount so received or any part thereof may be releaeed. Neither the application nor the releaae ot any such amounts shall cure or waive any detault. Upon e:ercise ot the powe~ ot aale siven in thin Mortgage or other acquisition ot the Mortgaged Property or any part there- of by Mortaagee~ auch policies shall become the absolute property of Moctgagee. 6. To first obtain the written coneent ot Mortgagee, auch ronsent to be granted or withheld at the sole discretion of Mortgagee. i~efore (a) removing or demoliahing any twilding now or hereatter erected on the premises, (b) altering the arrangement, deaign or structural cbaraMer thereo[, (c) making any repairs which involve the removal ot atructural parts or the exposure of the interior ot such building to the elements, (d) cuttina or removing or pernaitting the cutting and re- moval ot eny trees or timber on the Mortgaged Property, (e) removing or ezct~angina any tangible personal property which ia part of the Modgaged Property, or (f) entering into or modifying any leases ot the Mortgaged Property. 7. To maintain the Mortgaged Property in good condition and repair, including but not limited to the making ot such repai~s as Mortgagee may trom time to time determine to be neceasary for the presenation ot the Mortgaged Property and _ to not rnmmit or permit any waste thereof. 8. To rnmply with aU laws, ordinances, regulatione, covenanls, conditions and restrictions at(ecting the Mortgaged Property, and not io sufter or permit any violation thereof_ 9_ It Mortgagor (ails lo pay any claim, lien or encumbrance which is su~~erior "to this Mortgage, or when due, any tax or asse~ment or insurance premium, or to keep the Moctgaged Property in repair, or shall commit or permil waste, or i( there be commenced any acdiun or proi~eedinR attecting the Mortgaged Property or the title thereto, or the interest ot Mortgagee therein, including, but not limited to. eminent domain and bankruptcy or reorganization proceedinga, then Mortgagee. at its option, may pay said claim, lien, encumbrance, ta:, assesament or premium, with right of subroqation thereunder, may make such repairs and take auch ateps aa it deems advieable to prevent or cvre such waste, and may appear in any such action or proceeding and retain counsel therein, and take such action ii~~o:.. .us Mortgagee deems ad- visable, and for any ot such purpoaes Mortgagee may advance such sums ot money, including all casis, reasonable attorney's leea and other items ot e:penae as it deems nereasary. Mortgagee shaU be the sole judge ot the legality, validity and priority j of any auch claim, lien, encumbrance, ta:, asseasment and premium and of the amount necessary to be paid in satisfaction ~ thereot. Mortgagee shall not be held accountable for any delay in making any such payment, which delay may result in f any additional interest, coste, cha~gea, e:penaea or otherwise. ~ 10. Mottgagor will pay to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee ~ to protect the security hereof purauant to thia Mortgage, includinq all costs, reaaonable attorney's fees and other items of expenae, together with intereat on each such advancement at the highest lawtul rate ot interest per nnnum in the State ot i Florida, and all such sums and interest thereon shall he sec•ured hereby. 11. All auuu of money secured hereby ahall he payable without any rnliet whatever from any ~~aluation or ~~~praise- ment laws_ . 12, lf detault be made in paYment of any instalment ot principal or interest o( the Note or any part thereot when due, or in payment, when due, or any other aum secured hereby, or in pertormance ot any of Mortgagor s obligations, coven- ants or agreements hereunder, all of the indebfedness secured hernby shall become and 6e immediately due and payable at the ~ option ot Mortgagee, without notice or demand which are hereby e:pressly waived, in which event Mortgagee may avail itselt of all righta and remediea, af law or in equity, and this Mortgage may be foreclosed with all righta and remediea aftorded by ~ the laws oi Florida and Mortgagor sball pay aU costa,~charges and expensea thereot, includina a reasonable attorney's tee, ~ including all euch coata, e:penses and attorney a fees for any retrial, rehearing or appeals. The indebtedness aecured hereby ehall bear intereat at the higheat lawful rate of intereat per annum in the State of Florida from and atter the date of any ~ anch defeult of Mortgagor. If the Note providea tor instalment paymenta, the Mortgagee may, at its option, collect a late charge not to e:ceed two cents for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee tor ~ e:penees in collecting and servicing such instalment payments. ~ 13. If default be made in payment, when due, of any indebtednesa secured hereby, or in pertormance of any of ~ Mortgagor s obligatione, rnvenanta or agreement hereunder: ~ ~ (a) Mortgagee ia authorized at any time, without noti~e, in its sole diacretion to enter upon and take possesaion of the Mortgaged Property or any part thereof, to ~~erfornn any acta Mortgagee deems neceasary or proper to conaerve the ~ security and to collect and receive all rents, iasues and profits thereof, including those past due as well as those accruing ~ thereafter: and . x ~ (b) Mortgagee ahaU be entitled, as a matter of atrict right, without notice and e:parte, and without rngard to the ~ value or ocrupancy of the eecurity, or the aolvency of Mortgaqor, or the adequacy ot the Mortgaged Property aa security tor ~ the Note, to have a receiver appointed to enter upon and take poaseasion ot the Mortgaged Properiy, collect the renta and ~ profits there(rom and apply the same aa the court rtuiy direct, such receiver to have all the rights and powera permitted ~ under the laws of Florida. ~ In either wch case, Mort a ee or the receiver ma also take ~ g g y posaeasion of, and tor these puepo~ea une, any and al) ~ peraonal property which ia a part of tbe Mortgaged Property and ueed by Mortgagor in the rental or leaeing thereof or any part thereof. The e:pense (including r~reiver's feea, couneel feea, costa and agent's rnmpensation) incurred putsuant to the powers herein contained ahall be secured hereby. Mortgagee ahall (after payment ot all costs and expensea incurred) ~ ti -2- B~CK311 rA:~ 1U~5 3 ~ s. _ . . . ~