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account to pay such charges when due shall bs paid by Mortgagor to Mortgagee on dopsard. It, by reason of any default
by Mortgagor under any provision of this Mortgage, Mortgages declares all sums ~ectlssd Iteteby to bs due and payable.
Mortgages may then apply aqy funds in said account against the satire indebtedness secured hereby. The entorrsabiGty of
tbs covenants relating to fazes. assessments and insurance premiums herein otherwise provided ahaU not bs affected except
insofar as those obligations have been met by compliapee with thin paragraph. Mortgages essay trotn time to time at its
option waive, gad after Any wch waiver reinstate, any or all provisions kereot requiring -suck deposits, by notice to -
Mortgagor in writing. While +u!Y such waiver is in effect, Mortgagor aball Pay taxes, ansesameata and insutancv prenaiuma
as herein elasrvhers provided.
4. To promptly pay all fazes and asemsasenb asseised or levied order and by virtue of any state. federal. or municipal
law or repslation hereafter passed. against Mortgagee upon this Mortgage or the debt hereby secured, or upon i4 interest .
under this Mortgage, provided however. that'ths total amount ao paid for any such fazes pursuant to this paragraph toget~-
er with the interest payable on said indebtedness shall not exceed the highest lawful rate of interest in Florida and provided
further that in the event of the panage of aqy such law or regulation impoaiag a tax or aaesament against Mortgagee up-
on th;. Mortgage or the debt .scored hereby, that the entiro indebtedness secured by this Mortgage shall thereupon be-
come immediately dos and payable a! the option of Mortgages.
ti. To keep the Mortgaged Property insured againd loss oe damage by fire. and all perils insured against by an ex-
tended coverage endorsement, and such other risks and perils as Mortgagee in its discretion may require. The policy or
policies of such insurance ahaU be in the form in general use from time to time in the locality in which the Mortgaged
Property is situated, shall be in such amount as Mortgagee may rnsonably require, ahaU be issued by a rnmpany or
'companies approved by Mortgagee, and shall rnntain a standard mortgagee clause with lass payable to Mortgagee. When-
ever required by Mortgagee, such polldea, shall be delivered immediately to and held by Mortgages. My and all amounts
received by Mortgagee render any of such polides may bs appUed by Mortgagee on_the indebtedness secured hereby in such
manner as Mortgagee may, In Its sole discretion, elect or, at the option of Mortgagee, the entire amount so received or any
part thereof rosy be released. Neither the appUcation rar the release of any such amounts shall cure or waive any default.
Upon a:errise of the power_ot sale given in Wis Mortgage or other acqundtion of the Mortgaged Feoperty or any part there-
of by Mortgagee, such policies shall become the absolute property of Mortgagee.
e. To first obtain the written consent of Mortgagee, aucb consent to be granted or withheld at the sole discretion of
Mortgagee. before (a) removing or demoliabing any building now or herea[ter erected on the premises. (b) altering the '
arrangement, design or structural character thereof; (c) making any repairs which involve the removal of structural parts
or the ezposure of the interior of such building to the elements, (d) cutting or removing or permitting the cutting and r+s-
moval. of any trees or timber on the Mortgaged Property, (e) removing or exchanging any tangible personal property which
is pert of the Mortgaged Property, or (t) entering into or modi[ying any leases of the Mortgaged Property.
7. To maintain the Mortgaged Property in good condition and repair, including but not limited to the making of such
repairs as Mortgagee may from time to time determine to be necessary for the preservation of the Mortgaged Property and
to not commit or permit any waste thereof.
8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Mortgaged
Property, and not to softer or permit any violation thereof. _
9. If Mortgagor tails to pay any claim, lien or encumbrance which is sut~erior to this Mortgage, or when due, any ta:
or assessment or inasrance premium, or to keep the Mortgaged Property in repair, or shall rnmmit or permit waste, or if
there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto, or the interest of
Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or.reorganization proceedings, then
Mortgagee, at its option, may pay said claim, lien, encumbrance, taz, assessment 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 iaany.such action_or_proceeding and_re~in__cpan_eel there_iq and take such action therein as Mortgagee deems ad-
visable, and for any of such purposes Mortgagee may advance such suave of money, including all costs, reasonable attorney's
fees and other items of ezpense ss it deems necessary. Mortgagee shall be the sole judge of the legality, validity and priority
of any such claim, Uen, encumbrance, ta:, assessment and premium and of the amount necessary to be paid in aatiataction
thereof. Mortgagee shall not be held accountable for any delay in making any such payment, which delay may result in
II any additional interest, costa, charges, a:penes or otherwise.
~ 10. Mortgagor will-pay to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee
i
to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's tees and other items of
expense, together with interest on each such advancement at the highest lawful rate of interest per annum in the State of
f Florida, and all such sums and interest thereon shall be secured hereby.
11. All sums of money secured hereby shall be payable without any relief whatever from any valuation or appraise-
ment laws.
12 If default be made in payment of any instalment of principal 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, rnven-
ants or agreements hereunder, all of the indebtedness secured hereby shall become 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 Lsw or in equity, and this Mortgage may be foreclaeed with all rights and remedies afforded by .
the laws of Florida and Mortgagor shall pay all coats, charges and expenses thereof, including a reasonable attorney a fee,
including all such coats, expenses and attorney s tees for any retrial, rehearing or appeals. The indebtedness secured hereby
shall bear interest at the highest lawfnl rate of interest per annum in the State of Florida from and after the date of any
such default of Mortgagor. If the Note provides for instalment payments, the Mortgagee may. at its option. collect a late
charge not to exceed two cents !or each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee for
ezpenses in collecting and servicing such instalment payments.
13. If default be made in payment, when due, of any indebtedness secured hereby, or in performance of any of
Mortgagors obligation, covenants or agreement hereunder:
(a) Mortgagee is authorized at any time, without notice, in its sole discretion to enter upon and take poaaession of
the Mortgaged Property or any part thereof, to perform any acts Mortgagee deems necessary or proper to rnnserve the
security and to collect and receive all rents, issues and profile thereof, including those past due as well as those accruing
thereafter: and
(b) Mortgagee shall be entitled, as a matter of strict right, without notice and ezparte, and without re8ard to the
value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property as security for
~ the Note, to have a receiver appointed to enter upon end take possession of the Mortgaged Property, collect the rents and
profits therefrom and apply the same sa the court may direct, arch receiver to have all the rights and powers permitted
under the Taws of Florida.
In either such case, Mortgagee of the receiver may also take possession ot, and for these puspwes use, any and all
personal property which is a part of the Mortgaged Property sad used by Mortgagor in the rental .or leaning thereof or
any part thereof. The ezpenee (including receiver's fees, counsel tees, costs and agent's compensation) incurred pursuant
to the powers herein contained shall be secured hereby. Mortgagee shall (after payment of all costs and ezpenses incurred)
-2 aoox 315 P~cE 56? > ~ ~i : ' ~