HomeMy WebLinkAbout2822 accv,unt to pay such charges when due shall he p:ud by Mortgagor to Mortgagee on demand. If, by rc•:+wn of any default
1?y I1lorigagor under any provision of this Mortgage, Mortgagee dec•lures all sums sec•und hemby to be due :md ps?yublc•,
Mortgage may then apply any funds in ss+id account against the entire indebtedness secured hereby. The entorceubility of
the covenants relating to tuxes, assessmentx and insurance premiums herein otherwise provided shall not t?e attee•ted except
ir+sotur us those obligations have teen met t?y compliance with this paragraph. Mortgagee may tram time to time at its
option waive, and s+tter any such waiver reinstate, any or all provisions hereof requiring such del?osits, 1?y notice to
Mortgagor in writing. While any such waiver is in ettec•t, Alorigagor shall 1?:+y taxcw, assessments and insurance premiums
us herein elsewhere provided.
4. To promptly tx+y all tuxes and ussessmm~ts as.•+ccticd or levied under and by virtue oI any state, teden+l, or municilx+l
law or regulation hereafter passed, against Mortgagee utwn this Mortgage or the debt hereby secured, or ut?on its interest
under this Mortgage, provided however, that the total amount so paid for any such taxes pursuant to this paragraph togeth•
er with the interest t?s+yable on said indebtedness shall nut exceed the highest lawful rule of interest in Florida and provided
further that in the event of the lu+ss:+ge of any such law- or regulation imposing a tax or assessment against I1lortgugce up•
on this Mortgage o.- !h•> debt secured hereby, that the entirn indebtedness secured by this Mortgage sh:+ll thereutwn tx•-
come immediately due and I?ayable al the option of Mortgagee.
5. To keep the Mortgaged rrof?eriy insured against loss or damage by fire, and all 1?erils insured against by an ex-
tended cover.+ge endorsement, and such other risks and t?erils :+s Mortgagee in its discretion may require- The policy or
policies of such insurance skull be in the form in general use from time to time in the locality in which the Mortg:+gcd
Property is situated, shall t?e in such amount as I\lortgagc>e may reasonably require, shall I,e issued by comtx+ny or
comlx+nies approved by Mortgagee, and shall contain a st:+ndarcl mortgagee cluu+e with loss payut?le to Mortgagee. ~Vhen-
ever required by Mortgagee, such policies, shall I,e delivered immediately to and held by Mortgagee- Any and all amounts
received by IMortgagee under any of such Iolicies may I,e applied b}• rlortgugee on the indebtedness secured hemby in such
manner as Mortgagee may, in its sole discretion, elect or, at the option of I1lortgagee, the entirn amount so rec•eivcd or any
{?art thereof may t?e released. Neither the application nor the release of any such amounts shall cure or waive any default.
Upon exercise of the 1?owc•r of s:+le given in this Mortgage or other acquisition of the hlorlgaged Pmf?erty or any p;+rt there-
of by Mortgagee, such policies shall F?ecome the ut,solute pmperty of 111origagee.
6. To first obtain the written consent of Alortgagee, such consent to be grmtcd or N•ithheld ut the .role discretion of
Mortgagee, before (aj removing or demolishing any building now or hereafter erected on the premises, Ih) altering the
arrangement, design or struc•lur.+l character thereof, Ic) making any rel?airs which invoke the removal of structural parts
or the exf?osure of the interior of such building to the elements, Id) cutting or removing or permitting the cutting and rn-
moval of any trees or timber on the Mortgaged Property, let removing or exchanging any tangible fxrsonal prof?erty which
is f?:+rt of the htortg:+gcd Pmtx>rty, or (f! entering into or modifying any leases of the Mortgaged Pro{?erty.
7- To rr+:+inlain the Mortgaged Proferty in good condition and ret?:+ir, including but not limited to the mukinK of such
refu+irs as Mortgagee may from time to time determine to t?e nec•ccs:+n• for the presen•ation of the 1.lortgaged Pmperty and
to not commit or t?ermit any waste thereof. .
R. To comply with all laws, ordinances, regulations, coven:u+ts, conditions and restrictions affecting Ih+• Mortgaged
Property, and not to suffer or Ix•rmit any violation therc•of.
9. If Mortgagor fails to pay any claim, lien or encumbr.+nce which is sutx•rior to this MortgaKe• or when due, any tax
or assessment or insurmer premium, or to keep the Mortgaged Pmfxrty in repair, or shall commit or t?c•rmit waste, or if
there t?e commenced any action or proc-crding affecting the Mortgaged Property or the title thereto, or the interest of
Mortgagee therein, including, twt nor limited to. eminent dom:+in and tmnkn+ptcy or reorganization proceedings, then
Mortgagee, at its option, may Is+y s+id claim, lien, encumbrance, tax, a~ses.4ment or premium, with right of subrogation
thereunder, may make such ref?:+irs and take seek stel?s :+s it deergs advis:+ble to pmvent or cum such waste, and may
apf?ear in any such action or prcx•eeding and retain counsel therein, and take such action therein as Mortgagee deems ad-
visable, and (or any of such purtx,ses ;Vtortgage•e m:+y advance such sums of money, including all costs, reasonable attorneys
fees and other items of exf?ensc• as it deems nee•ess:?r}•. :Mortgagee shall tx: the sole judge of the legality, validity and priority
of any such claim, lien, encumbr.+nce, tax, :>_SSessment and premium and of the amount nee•rss:+ry to tie paid in satisfaction
therc•of. Mortgagee shall not Ix• held ae•countable for any delay in making any such f?:+yment, which delay may result in
any additions) interest, costs, charges, expenses or otherwise.
10. Mortgagor will p:+p to MortgaRc•e. immediately ~,nd without aemand, all sums of money sdv:+nce>d by Mortgagee
to protect the security hereof pursuant to this Alortgage, including all ••osts, reasonable attorney's tees and other items of
E expense, together with interest 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 lherec?n shall t?e se+•ured hereby.
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11. All sums of money sc•+•ured hereby sh:+ll t:;• payable without any relief whatever from any ~:+luation or :q?prnise-
ment laws.
~ 12. If default I,c> 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 anv other sum secured hereby, or in f?ertormance of any of Mortgagor's obligations- c•oven-
ants or agreements hereunder, all of the indebtedness secured hereby shall t,ec•ome and he immediately due and fh+yable at the
option of 1\1urtgagee, 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 F?e foreclosed with all rights and remedies afforded by
t the laws of Florida and Mortgagor shall f?:ry all costs, charges and expenses thereof, including a reasonable attorney's fee,
including all such costs, extxnses and attorney's Ices (or any retrial, rehear+ng or appeals. The indebtedness secured hereby
shall tear interest at the .highest lawful rate of interest fx>r annum in the State of Florida from and after the date of any
~ suc•h default of A1ortg:+gor. If the Note prm•ides for instalment paryments, the Mortgagee may, :+t its option, eollee•t late
charge not to exceed tw•o cents for each one doll:+r not paid to the Mortgagee when due, to reimburse the Mortgagee for
exf?e nses in coNecting and sen•icing such instalment payments
13. If default Ix• made in payment, when due, of any indebtedness secured hereby, or in tx>rformance of any of
Mortgagor's obligations, rnvenants or agreement hereunder:
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a laj Aortgagee is authorized at any time, without notice, in its sole discretion to enter uf?on and take fassession of
the Mortgaged Property or any part thereof, to f?erform any acts :Mortgagee deems necessary or proper to consen•e the
security and to collect and receive all rents, issues and profits thereof, including those past due as well as those accruing
? thereafter: and
(h) Mortgagee shall he entitled, as a matter of strict right, without notice and exparte, and without regard to the
v:due or on•upancy of the security, or the w?Ivene•y of 1~lortgagor• or the adequacy of the Z\lortgaged Property as security for
3 the Note, to have a receiver apl?ointed to enter ufwn and take posgesvion of the Mortgaged Proferty, collect the rents and
profits 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 also take fwssession ot, and for these purposes use, any and all
personal property which is a part of the Mortgaged Property and used by tllortgagor in the rental or leasing thereof or
~ any part thereof. The expense lincluding receivers fees, counsel tees, costs and agent's compensation) incurred pursuant
~ to the powers herein contained shall t?e secured hereby. 1lfortgagee shall (after payment of all costs and expenses incurred)
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