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Home My WebLink About1598 t. 1 i ~ , • uiti~uunt to {k~y auch ~•hurRra when due ahall he {x~id by Mortgagor to Mortgugee on demund. If, hy rr:~xun of ~ny defuult by 1~lortgugor under ainy provision of /his Mortqage, MoHgagee declares all sums sec•ured hereby to t?e due und {myi~ble, Mortgagee m+~y then upply ony tunda in said uccount against the entire indebtedneas eecured hereby. The entorceubilily of the covenunts reluting to tnxes, ass~xaments and ir~surunce premiuma herein otherwiae pcovided ahall not bo aftected excepi ' inaofar as those ubligationa have been met by compliance with thia puragraph. Mortgagee may from time to time at its option waive, and utter aoy such waiiver reinatate, any oc ull provisione hereof requiring auch de{wsita, by notice to Mortgagor in writing. While a~y auch waiver ie in et(ect, Morigagor shall puy taxea, usaeaarnents and insurance premiuma ua herei~ elaewhee~e provided. ~ 4. To pcomplly {wy ull tAxea and :~x~~ment$ asssessed or levied under and by viHue ot uny sta~te, federul, or munici~l Ixw or mgulution hereatter passed, aSuinst I~lortgngee upon thia Mortguge or the debt hereby secured, or u~~on its interest under thia Mortguge, provided however, that the total amou~t so paid (or nny such tnxes pursunnt to this pun~graph togeth- er with the interest ~ypble on eaid indebtedness shall not exceed the highest lawful rnte ot interest in Floridn i?nd provided furlher ihnt in the event ot the pass~Be o( nny such law or mgulation impoeiog a tnx or ussessment againat Mortg:~Kee up- on thia Mortgage or lhe debt secured hereby, that ihe entire indel~tednese secured hy this MortgaKe shall thereupon be- come immedintely due and payable at the option ot Mortgagee. 5. To keep the Mortgaged Property insured against loss or damage by fire, and nll perils insured aguinsc by an ex- tended coven~ge endorsement, and such other riska and ~~erils ria Mortgagee in ita discretion mAy require. The policy or ~~oliciea ot such insuranee ahaU be in the torm in generul use from time to time in the locality in which the MoHgnged Property is situated, shult be in such nmounl as Morlgngee may reseonubly require, shall be issued by a compeny or compnnies approved by I?lortgagee, and shall cont~in n stnndard mortg~Bee clause with loss payable to Mortgagee. When- ever required by Mortgagee, such policies, shall be delivered immedintely to and held by Mortgagee. Any nnd all amounts received by Morigagee under ~ny of such {wlicies may 1x applied by Mortgt~gee on the indebtedness secured hereby in such munner as Mortgagee may, in its sole discrwtion, elect ur, at the option ot Mortgngee, the entire nmount so received or nny ~~art thereof may be released. Neither the applicution nor the rnlease of :~ny such amounts shaD cure or waive nny default. tlpon exercise of the power ot ~~le given in !his MortgaRe or other ni~quisition ot the MortRnRed PropeHy or any paH there- ot by Mori~aRee, such ~wlicies ahall Fx~rome the ~haolute pmperty of MortgaRee. 6. To first obtain the written consent of Mortgagee, such consent to he K~anted or withheld al the sole discrntion of Mortgagee, be(ore (a) removing or demolishing nny building now or hereafter erectecl on the pmmises, lb) altering ihe. arrangement, design or structural ~haracter thereof, (c) making any repnirs which im~ol~~e the removal ot structural ~kirts or the exposure o( the interior'o( such buildin~ to the elements, (d) cutting or removing or permittinR the cutting and re- mov:~l ot any trees or timber on the MoHgageci Property, le1 rnmoving or exchanging any tangible {~er.~onal property which is {hvt o( the I4lortgagecl Pro~~erty, or enterin~ into or modifyinR any leases ot ihe MortgaRed Pml~NY• 7. To maintain' the Mortgaged Property in good condition and re~~air, includinR but not limited to the making ot such rep:iirs us Mortgagee may (rom time to time determine to he m~ce~:~ry tor the preservution of the rlortQaRed Property and to not commit or ~~er[nit any waste thereof. 8. To rnmplv wilh .~ll law~s, ordin.~nces, reKul~fions. co~•enants. ~~onditions :+nd restri~•tions a(fer•ti~R ihe :~1ortR:i~ed Pro~~eHy, and not to suffer or ~~ermit any violation lhereof. 9_ If Mortg.~Ror tails to ~k~> an}• ~•laim, lien or em•umbran~•~ whi~•h is su~?erior to fhis A1ortK.iKe, or w•hen due, any tax or ~~ssessment or insurance pmmium, or to keep the MortRa~ed Pmperty in reE?:iir, or shall commit or ~~ermit w~aste, or i( thern be commenced any action or pra~eeclinR n(fecting the Alortgagrd Property or the title themto, or the interest of 111ortRaRee therein, includinR, but not limiteci to, eminent domain and bankruptcy or reorRaniz:~tion pr~~eeciinRs, then Mortgagee, at its option, may {ray said claim, lien, encumbrance, tax, assessment or prnmium, with right of suhroRation thereunder, may m:ike such re~k3irs and t~ke sui•h steE~s :~s it deems advis:~ble to pre~•ent or com such waste, and may appear in any such action or proceedinQ and retain counsel therein, and take such artion therein as T1ortRaRe~e dc~c~ms ad- visable, and for any of such purposes htortgagee may advaner such sums of monry, including all ~•osts, reuson.ible attorney's I' fees and other items ot ex{~ense as it deems nec•ess:iry_ hlortRagee shail be the sole judge of the legality, ~'alidity and priority I ot any such claim, lien, encumbrance, tax, assessment .ind pmmium and ot the :~mount necess:~ry to be paid in satisfaction I thereof_ 1~lortgagee shall not 1~e held accountable for :~ny delay in makinR :~ny su~•h {k~yment, ~vhich del.~y m:~y -result in ~ anv additional interest, i•c~ls; charges, rxpenses or otherwise. 10. Mortgagor will ~?ay to A1ortRaQcr, immediafely and without demaod, :~II sums ot money ad~'.~n~~cYl hy MortKa~i~e to protect the security hereof pursuant to this MortKaRe, including all ~•osts, reasonable attorney's (ees :~nd otheY item~ o( ~ expense, toRether with interest on each such :idvancement at the highest Inwfal rate oi interest ~~r annum in the St:~te o( Florida, and all such sums and interest thereon shnll F?e sec•ured hereby_ 11. All sums of money secvred hereby ~hall Fx ~~:~yable without any relic( whatever (mm :~ny ~aluation or :~ppraise- . ment laws. . • 12. If detault be made in {uryment of :~ny instalment of principal or interest of the Note or any ~~rt thereot w~hen due, or in payment, when due, or any other sum secured hereby, or in ~~erformancr. ot any of Mortgagor's obligations, co~•en- ants or agreements hereunder, ull of the indehtedness sec'ured hemby shall become :+nd t~e immediately due and ~u~yable at lhe option ot Mortgagee, without notic•e or demand which are herel~y e:pressly waived, in which event Mortgagee ma> aeail itselt of aU rights and remedies, at l:~w or in equity, and this A'(ortgaRe may be toreclosed ~ith alt rights and remedies atforded by the laws ot Florida und MortqaRor shull Ekiy aU costs, charges and ex~~enses thereof, including a reason:~ble attorney's tee, in~•luding all su~•h costs, ex~~euses and attorney's (ees (or any retrial, rehearin~ or appeals. The indebtedness secured hereby shall t?ear internst at the hiqhest law(u! rate of interest ~~er annum in the State of Florid~ from and atter the date o( any such default ot !1'Iortgaqor. If the Note provides (or instalment ~k~yments, the 1~1ortQaRee may, at its option, collect a late charRe not to exceecl tw~o cents tor each one dollar not paid to the ~fortK.~Kee when due, to nimbursc~ the AiortQaRee for ex~~enses in colle~•tinR and sen•icinR such instalment {u~yments. 13_ It de(ault be made in p:+yment, when due, ot any indebtedn~ss sec•ured heret?~•, or in pertorm.ince of any ot ~ (~1ortRaQor's obligations, covenants or aKreement hereunder: ~ Mort~aRee is authorized at any time, without notice, in its sole discretion to enter u{wn and take {iossession of ~ the 1~'IortgaReci Pro~~erty or any ~r.~rt thereof, to ~~ertorm any acts ;4tortKaQee deems necessary or t~roper to consen~e the security ~nd to collect and recei~~e all rents, iasues and profits thereof, including those past due as weli us those ac~cruing thereatter: :~nd Ib) MortRaRee shall F?e entitlecl, as a matter of sirict right, withoul notice and exp:~rte, and without rnSard to the - ~ value or occu~mncy o( the security, or the solveni•y ot MortRagor, or the adequacy of the MortqaRed Pmperty as ~vrity for ~ the Note, to have a rereiver appointed to enter u~~on and t~ke possession o( the MortRaRed Property, collect the mnts and pro(its there(rom and apply the ~me as the c-ourt may direct, such receiver to ha~~e all the riRhta and powen permitted under the laws of F lorida. In either such case. Alortgaqee or the receiver may also lake ~~ossessiori of, and tor these purposes use, any and all personal pmperly which is n part of the Mortgaged Pm~~erty and used by Alortgagor in the rental or leasing thereof or :iny pprt thereot. The expense (including receiver's fees, counsel fees, costa and agent's compensation) incurred pursuant to the powers herein contained shall be secured hernby. 1~1ortRaRee shall (after payment ot all costa and e:penses incurred) 9 1 -2- ~ :~"3('K F!G . . . . F 15y6 e . . - - _ ~ r~