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HomeMy WebLinkAbout0488 . account to {my such charges when due shall I,e I?aid by t?lortgagor to Mortgagee un demand. • [f; by reusut~~ "~ay del:utlt by Mortgagor under any provision of this Murlgage, Mortgagor declares all sums so>c•ured here(>y to he due and pa~:rble, t?lortgage>e may then apply any funds in said :recount against the entire indebtedness secured hereby. The entonrability of the e•oyenuntx relating to taxes, assessments and insurance premiums herein otherwise provided shall not I,e utte•e•tcd except insofar :rs those obligations have ireen met by compliance with this {,anrgraph. htortgugcr may tram time io tin?e at its option waive, and utter any such waiver reinstate, any or :ell provisions hereof requiring such delwsits, by notice to Mortgagor in writing. While any such waiver is in ettco•t, Alortgugor shall Iury taxes, assessments and insurance premiums us herein elsewhere provided. 4. To promptly (xay all taxes and assessnu>nts ussesud or (evicd under and by virtue of any stub, hKter:+l, or municilutl law or regulation hereafter passed, against Mortgagor ulwn this Mortgage or the debt hereby se>e•ured, or utx,n its interest ulnder this Mortgage, provided however, that the total amount so I,:rid for any such laxe>s pursuant to this }>:aragraph togeth- er with the interest lkryahle on said indebtedness shall not exceed the highest lawful rnte of interest in Florida and providers further that in the event of the passage of any such law or regulation imlwsing a Uax or usse•ti,~ment against Alortgage•e up- on this Mortgage or the debt see•uted hereby, that the entire indebtednesv secured by this Mortgage shalt thereulwn F,e- come imnaediatety due and thtyable at the option of Mortgagor. 5. To keep the Mortgaged Properly insured against loss or damage by fire, and all pcrtls insured against by an ex- tended corerage e;ndorsemrnt, and such other risks and perils as Mortgagee in its discretion may require. "The Iwlicw or Iolicies of such insurance shall t,e in the form in general use from time to time in the locality in which the tliortgaged Properly is situated, shall i,e in such amount as Mortgagee may reasonably require, shall ire issued by a comtmny or comt>:rnies approved by Mortgagee, and shall contain a standard mortgagee c•lauce with loss payable to Mortgagee. When- ever required by Mortgagor, such l,oliries, shall tx> delivered immediately to and held by Mortgagee. Any and all amounts received by Mortgagee under any of such policies may ho> applied by I?tortgagee on the indebtedness see•ured hereby in such manner as Mortgagee may, in its sole discretion, elect or, at the option of bortgagee, the entire amount so received or any I,:art thereof may i,e released. Neither the application nor the release of any such amounts shall cute or waive any default. Upon exercise of the Iwwer of sole given in this Mortgage or other acquisition of the Mortgaged Prol?erty or any facet there- of by Mortgagee, such policies shall t,ec•ome the al?snlute pmfx>rty of Mortg:aKee'• 6. To first obtain the written consent of Mortgagee, such consent to t,e granted ur withheld :ai the sole discretion of Mortgagee, t,etore (a) removing or demolishing any building now or hereafter en•e•ted on the premises, Ih? altering the arrangement, design or structural character thereof, (c) making any refwirs which involve the removes) 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 re- moval of any trees or timber on the Mortgagor) Profrerty, let removing or exchanging any tangible personal property which is fr:aH of the Mortgaged Pmfx•rty, ur If) entering into or modifying any leases of the Mortgaged Pmfrerty. 'Ib maintain the Mortgaged Prof,erty in gaud condition and refr:tir, including but not limited to the making of such repairs as Mortgagee may from time to time determine to he necess:an• for the presentation of the Alurtgagcd Ym{xrty and to not commit or hermit any waaste thereof. R. To e•omph• with all laws, ordinances, mgut:ations, cove•nanis, conditions and n•strictiuns aflecting the Mortgaged Pmpe>rty, and nut to suffer or permit any violation thereof. 9. 1f Mortgagor fails to p:ry any china, lien or encumhran+•e• which is superior to this Mortgage, or when due, am• tax or aste•ssment or insurance premium, or to keep 1hF Mortgaged Profx•rh• in repair. or shat commit or {,ermit waste, or i( there Ire commenced any action or pr«•s•eding affecting the Mortgaged Profx•rty or the title thereto, or the interest of lortgagee therein, including, but not limited to, eminent domain and tr:urkruptcy or reorRaniz:ation pnx•eedings, then lLlortgagee, at its option, may pay said claim, lien, era•umhrance, tax, assessment or premium, with right of subrogation thereunder, may make such n•pairs and take such sups :as it dorms advisable to pn>vent or cum such waste, and may apfx>ar in am• such action or pmcerding and retain counsel therein. and take, such action thereto as Mortgagee deems ad- visable, and for any of such puryx,se•s Iltortgagcr may advance such sums of money, including all e•osts, reasonable attorney's fees and other items of expe'nse' as it deems nece~saary. 111ortgagec• shall I,e the sole judge of the legality, validity and priority of any such claim, lien, encumbrance, tax, assc>ssment and premium and of the amount nee•ess:ary to he paid in satisfaction there•nf. Mortgagee shall not tx• held ac•countalae for any delay in making ar»• such payment, which delay may result in an>• addition::1 interest, costs, charges, exfre•nses or othenvisc•. • 10. Mortgagor will pap to Murtgagc•c•. immedi:+teh• and without demand, all sums of money adcane•ed by Rlortgage>e to pn,tect the security hereof pursuant to this Aortgage. including alt e•osts, reasonable attorney's fees and other items of exfx>nse, together with interest on each such advancement at the highest lawful rate of inten•st fx>r annum in the State of Florida, and all such sums and inten•st then•on shall Fee secured hereby, 11. All sums of money :ecure•d hen•b}• ,hall M• p:ayahle without :ury relie•t whateeer fmm an>• evaluation ur appr:aiv>- ment laws. 12. It default t,e• made in payment of any inst:alnu•nt of princip::1 or interest of the Note ur any part therc>of when due, or in payment, when due, or any other sum secured hereby, ur in fx r(ormance of att4 0~- Aloitgagor s obligations, e•oven- ants or agreements henv;nder. alt of the indehte•tlno•-s sec•urcd hereby shall become and 1,e unmediately due and payable at the . option of ;1ortgagee, without notie•e or demand which are herc•Ly expressly waived, in which event l\lortgagee may avail itself of all rights and remedies. at law ur in e•cfuity, and this Mortgage may Ire foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costs. charges and exfx>nse•s thereof, including reasunabtc attorney's ter, including all such costs, exfx•nscs :uad attorney's fern for any retrial, rehearing or apf,eals• The indebtedness seK•urod hereby shall hear irderest at the highest lawful rate of interest fs'r annum in the State of Florida fmm and after the date of any such default of Mortgagor. If the Note provides for instalment payments, the 111ortgagee may, at its option, collect a late charge not to exceed two cents for each one dollar nut p:,id to the Mortgagee when due. to reimburse, the Mortgagee for exfx•nses in collecting and servie•ing such instalment payments 13. I( default Fx made in payment. when due, of any indebtedness sea•ure•ct hen•hy, or in frerlormance of any of Mortgagor's obligations, covenants or agreement hereunder lest Mortgagee is authorized at any time, without notice, in its sole discmtion to enter ulwn and take t,u~s?:xtiion u( the lortgaged Pmfrerty or any part there•uf, to fx>rform am• acts ~lurtgagee deems ne>c•ess:ary or pmfrer fo c•onsen~e the security and to e•ollee•t and n>ceive all rents, issues and profits there>ut, including those past due as well as those, ae•e•ruing thereulter. and Ibl Mortgagee shall he e•ntitle•ct, as a matter n( strict right, without notice and exp:arte, and without regard b the value or occupancy of th?• se>c•urify• or the soh•em•y of Mortgagor, or the ada•quacy of the Mortgaged Yrofx•rty as security for the Note, to have a receiver appointed to enter ufx,n and take fwssession of the Mortgaged Pmfx•rly, collect the rents and pmfits therefrom and apply the same as the court may din•ct, such receiver to have all the rights and fx,wers permitted ~ undo>r the laws of Florida. In either such +:asc>, Mortgagee or the receiver may also take fxsx•s.,ion ot• and fur these purposes use, any and all fx•rsonal pmfrerty which is a part of the Mortgaged Property and uxd by Mortgagor in the rental or !casing thereof or :my part thereof. The expense !including receiver's fors. counsel fees, costs and agent's comf,ens:rtion? incurred pursuant to the fwwer.: herein contained shall tee secured hereby. Mortgagee shall fatter payment of all costs and expenses incurred) -2- ~.~x. Z ~~~F 48?