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HomeMy WebLinkAbout0980 i ~ i . account to pay such chargca when due ahaU be paid by Moctg~gor to MoHgugee on deteai~d.} If, by r~cy~ d'any defuult by Mortgagor unde~ any provision oi this Mortgage~ Mortgagee declures all suma secored hereby to be due and payable, Mortgagee may then epply any tunds in said account against the entire indebtedneao a~ecuted hereby. The entorceability o( the covenants relatit~ to taYea. aa~essmenb a~d insurance premiums herein otherwise provided shall not be attected except insotar as thoae obligetiona have been met by rnmpliance with this paragtapb. Mortgagee may tmm time to time at its option waive, and after any sucb waiver reinetate, any or all pmvisions hereof tequirina ruch depoaita, by notice la Mortg~gor ia writing. While any such waiver ia in ettect, Mortgagor shall pay taxea, aasesamenta and insurance premiums ue herein elsew6ere pmvided. 4. To promptly pay all taxes and xesesementa assessed or levied under and by virtue ot any atnte, tederal, or municipal law or regulation hereatter passed. againat Mortgugee upo~ this Mortgage or the debt hereby aecured, or upon its intereat under thia Mortgege. provided however, that We totai amount so paid for any auch taxea pursuant to thia pamgreph togeth- er with the interest payable on said indebteciness shall not exceed the hishest law(ul rate of intereat in Florida and provided fuNher tbat in the event o( the passage of any auch law or regulation imposing a tax or asseasment againsf Morigagec up- on this Mortgage or the debt eecured hereby, that the entire indebtedneea secu~ed by this Mortgage s}wll thereu{wn be- come immediately due and payable at the opiion ot Mortgagee. S. To keep the Mortgaged Property insurc~l against loas or damage by fire, and all perila insured against by an ex- tended coverage endorsement, and such other riaka and perils as Mortgagee in its discretion may require. The policy or s ~oliciea ot euch insuranee s6all be in the torm in general use (rom time to time in the locality in which the Mortgaged Property is situated, shall be in wch amount as Mortgagee may reaaonably require, ahaD be iesued by a coropany or rnmpaniea approved by Mortgagee~ and ahall contain a atandard mortgagee clauee with loes payable to Mortgagee. When- ever required by Mort;agee, auch policies, shall be delivered immediately to and held by Morigagee. Any and all amounta ! received by Mortgagee under any of such policies may be applied by Mortsagee on the indebtednesa secured hereby in auch ' manner aa Mortgagee may, in ita sole discretion, elect or, at the option of Mortgagee, the entire amount so received or any part thereof may be releaeed. Neither the application nor the release of any such amounta ahall cure or waive any detault. Upon e:emiee of the power of sale given in this Morigage or other acquisition of the Mortgaged Property or any part there- of by Moctgagee. such policiea ahail become the ahsolute property o! Mortgagee. 6. To firat obtain the written rnnse~f of Mortgagee, such consent to be granted or withheld at the sole discrntion ot Mortgagee~ betoi+e (a) removin~ or demoliahing any building now or hereatter erected on the premises, (b) altering the arran~ement, design or struMural character thereot, (c) making any repaira which involve the removal ot structural parts or the e:posare ot the interior of such building to the elemenfs, (d) cutting or removing or permitting the cutting and re- moval of any trees or timber on the Mortgaged Property~ (e) removing or e:changing any tangible personal property which ia parl of the Mortgaged Property, or (t) entering into or modi[ying any leases of the Mortgaged Property. 7. To maintain the Mc?rtgaged Property in good rnndition and repair, including but not limited to the making of such repairs as Mortgagee may fmm time to time determine to be necessary tor the preservxtion of the Mortgaged Property and to not commit or permit any waste thereof. i 8. To comply with all laws, ordinances, rngulaliona, covenants, ronditions s~nd restrictions af(ecting the Morigaged Property, and not to suiter or permit any violation thereof_ 9. I( Mortgagor lails to pny any claim, lien ar encumbrance which is superior to this Mortgage, or when due, any tax or assessment or insurance premium, or to keep the Mortgaged Property in repair, or slwll commit or permil waste, or if there be commenced any action or proceeding atfecting the Mortgaged Property or the title thereto, or the interest o( Mortgagee therein, in~luding, Fwt not limited to, eminent domain and bankruptcy or reorganization proceedings, then Mortgagee, at ita option, may ~y said claim, lien, encumbrance, tax, asaessment or premium, with right of subrogation ~ thereunder~ may make such repairs and take such steps as it deems advisable to prevent or cure such waste, and may ~ appear in any such action or_ proceeding and retain counse) tfierein, and take such action therein as Mortgagee deems ad- ~ visable, and for any of such purposes Mortg~gee may advance such sums of money, inclading ail cosla, reasonable attorney's J teea and other items of expense as it deems necessary_ Aiorigagee shall be the sole judge of the legality, validity and priority of nny such claim, lien, encumbrance, ta:, assessment and premium and of lhe amount necessary to be paid in satisfaMion thereof. Mortgagee shall not be held acrountable for any delay in making any suc•h payment, which delay may result in ~ any additional interest, costs, charqes, ezpenses or otherwise. ~ i 10. Mort a or will g g pay to Mortgagee, immediately and without demand, all suma of money advanced by MortqaRee ~ to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's fees and other items of ~ expense, together with interesl on each such advancement at the higheat lawtul rate of interest per annum in the State of ~ Florida, and all such sums and interest thereon shall be seeured hereby. ~ ; 11. All sums of money secured hereby ehal) I~e ~k~yable without any relief whatever from any ~~aluation or appraise- ~ ~ ment laws. • 12. If default be made in payment of any instalment o( princi{~al or interest of the Note or any part thereof when ~ due, or in payment, when due, or any other sum secured hereby, or in performance of any of Mortgagor's obligations, coven- ants or agreements hereunder, all ot the indebtedness secvred hemby shall become and be immediately due and payable at the option o[ Mortgaqee, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itselt of all rights and remedies, at law or in equity, and this 1liortgage may be foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costa, eharges and expensea thereof, including a reasonable attorney's fee, including all such costs, ex{~enses and attorney's fees for any retrial, rehearing or appeals. The indebtedness secured hereby ~ shall bear interest s~t the highest law(ul rate of interest per annum in the State of Florida from and after the date of any such detault ot Mortgagor. If the Note provides for instalment payments, the Mortqagee may, at its option, collect a late ~ charqe not to e:ceed lwo cents for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee for e:penses in collecting and servicing such instalment paymenis. 13. If detault F?e made in payment, when due, of any indebtedness secured hereby~ or in performance of any of Mortgagor's obligations, covenanta or agreement hereunder: ~ ~ (a) Mortgagee ia authorized at any time, without notice, in its sole discretion to enter upon and take ~wssession of ~ the Mortgaged Property or any part thereof, to ~~erform any acts Mortqagee deems necessary or proper to consen~e the > security and to collect and receive all rent~g, issues and protits thereot, including thoec past due as well as those acrruinR ~ thereatter: and ~ (h) Mortgagee ahall be entiHed; as a matter ot strict right, without notice and exparte, and without regard to the s value or occupancy of the aecurity, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property aa secvrity tor ~ the Nole, to have a receiver a inted to enter u n and take ppo po possesaion of the Mortgaqed Property, collect the rents and ~ profita therefrom and apply the same as the court may direct, such receiver to have all the rights and powers permitted ~ under the laws of Florida. ~ In either such case, Mortgagee or the receiver may afso take possession of, and tor theae purposes uae, any and all ~ pereonal property which is a part ot the Mortgaged Property and uaed by Mortgegor in the renlal or leasing thereof or ; any part thereo(. The e:penae (including receiver'a (eea, counsel feea, cdata and agent's compensation) incurre~l pursuant = ~ to the {wwers herein contained shall be eecured hereby. Mortgagee ahall (atter payment of all coste and e:penses incurred) { ~ -2- E ~~:~iX ~12 t~a~~E ' ; ; , 4 _ _ _ _ _ .r v:..~: _ _ - .