HomeMy WebLinkAbout2205 account to p:ry such charges N•hen due shall 1?c• 1?:+id by Murtg:+Kor to Mortgagee on dF•mand.~ 'il, by n•awn of :u+y default
by Mortgagor under any provision of this Murlgage, Mortgagae da>c•lara's all sums s+•c•ured here:,y to I,e due :+nd Ixryuble,
Mortgagee rnuy then apl?ly any funds in s:+id account against the entire indebtedness secunvt hen-hy. Th+' enforceability of
the c•ovenunts refuting to taxes, assessments and insun+nae premiun+s herein otherwise provided shall nut l?e utia'a•tad exa•ept
insofar as these obligations lua•e teen met by compliance with this I?:+rt+gruph. li1ortgagee may from time to time at its
option N•uive, and after any such waiver reinstate, any or :+11 provisions hereof requiring such delwsits, by notice to
Mortgagor in writing. While any such waiver is in a>tta•a•t, 111urtgugor shall Imy taxt's, assrs.,n+ents and insuramce premiums
as herein elsewhere provided.
4. To promptly Ix+y all tuxes and usva:ssmrnts :+sw:cud or levia>d under and by virtue nl any stair, ta'der.+l, or municipal
I:+w or regulation hereafter passad, against Mortgugar ulwn this Mortgage or the debt hereby sea•ure:l, or ulwn its intenst
under this Mortgage, provided however, that the total amount sa lu+id fur any such tuxes pursuant to this {x+r.+Kr.?ph tugeth-
Pr with the Interest Oilyill?Ie on s:+id indebtedness shall not exa•ea•d the highest lawful r.Ne of intrust in Florida and provid+>cl
further that in the event of the lu+ss:+ge of any such I:+w or regulation imlwsing a tux or assessment against Mortgagee up-
on this Mortgage or the debt sea•urad heuhy, that the entire indet?trdnesc sec•ura'd 1?v this Mortgage shall thc•reulwn tx•-
c•c?mr immediately due and lxryable at the option of Mortgagee.
5. To keep the Mortgaged Yrolx:rty insured against loss or d:unuge by fire, and all lx'rils insuracl against by an ex-
tended coverage endorsement, and such other risks and Ix rils as Mortgagee in its diu•retion may require. The lwlicy or
Iwlicies of such insurance shall 1?e in the form- in general use from time to time in the I«•ality in whirh the Mortgaged
Yrol?erty is situatevl, shall 1?e in such amount as 111ortgagae may uasonubly require, shall i?e issued by a roml?:+ny or
companies appmved by Mortgagee, and shall contain a standard mortg:+gae clause with loss payable to Mortg:+gae. When-
ever required by Mortgagee, such Iwlicirs, shall 1?e delivered immediately to and held by Iortgagee. Any and all amounts
received by Mortgagee under any of such Iwlicies may l,c' applied by Mortgagee on the indehtrdnesc sec•urad hereby in such
manner as Mortgagee may, in its salt discretion, elect or, at the option of Mortgagee, the entire :+mount so received or any
part thereof m:+y he released. Neither the application nor the release of :+ny such amounts sh:+ll cure or waive any default.
Upon exercise of the lwwer of s:de given in this Mortgage or other acquisition of the Morlg:+ged Ymlx rty or any tu+rt there-
of by Mortgagee, such lwlicia>s shall I,ec•ome the :+I,solute pml?erty of Mortgagee.
6. To first obtain the written consent of hlortg:+gar, such consa•nt to t?c' Krantcd or withheld at the sole discrc•tiun of
Mortgagee, 1?efore la1 removing or demolishing am• building now or hereafter en•c•t+d on the pn•mi+rs, Ih) altering the
arr.+ngement, design or strurtur.+l character thereof, Ic) making :+ny rel>i+irs which involve the removal of structural tarts
or the exlwsure of the interior of such building to the elements, Id? cutting or removing or I+ermitting the cutting and re-
muva) of env trees or timber on the Mortgaged Yrol?erty, lei removing or exchanging any tangible {x'rsc?n:+l prolx'rty whirh
is I,:+rt of the Mortgaged Pro{x>rty, or It) entering into or m+xlifying any Ir:~~es of ihr riortgagrd Pro{x•rty.
'I'o maintain the Mortgaged Yrol+erty in gaud condition and rel>isir, including but not limited to the making of such
rel>:+irs as Mortgagee may from time to time determine b he ne•eesv+ry for the presen:+tion of the Mortgaged Yrot?e•rty and
to not commit or t?ermit any waste then>ot.
R. •1'o comply with all IaN•s, ordinances, regulations, covenants, runditions and mstriclions attesting the Mortgaged
Ymtx•rty, and not to suffer or Ix•rmit any violation then•of.
4. It Mortgagor tails to p:n• any claim, lien or enrumbranr+~ whirh is sul?c•rior to this Mortgage, or N~he•n due,, :u?y tax
ur asu•sment ur insurance premium, or to keep the \lortgaged j'rolx•rty rn repair, or shall commit or Ix•nnit waste, ur if
there 1?e commenc•ed :+m• action or prc?e•eeding atfa'e•ting the 141ortgaged Yrolx•rty or the title thereto, or the interest nt
Mortgagee therein, including, but not limited to, eminent domain :+nd bankruptcy ur reorganiz:+tion prcx-eeelings, then
Mortgagee, at its option, miry lu+y s-+id claim, lien, encumhr:mce, tax, assessment or premium, with right of subrogation
thereunder, may make such rep:+irs and take sorb stel?s as it deems advis:+ble to prevent ur cure such waste, :red m:?y
,+pl?ear in any sue•h action or prcx•eeding and retain counsel therein. and take such artiun therein as-Afortg:+Kee deems ad-
vis:+ble, and for any of such purlwses Mortgagee may advance sue•h sums of money, including all costs, reasonable altorney•s
f~ fees and other items of ex{x nse• as it deems nec•e•sv+ry. Mortgagee shall he the sole judge of the legality, validity and priority
V of any sorb claim, lien, encumbrance, tax, astiessment and premium and of the amount ne+•es,:+ry to f,e paid in s:+tistaction
thereof. Mortgagee shall not Ix• held accountable fur any delay in making any such tayment• which delay map result in
any additional interact, rusts, charges, exlxnsc•s or other~•ise•.
10. Mortgagor N•ill l,:ry fo tllortgager•, immediately and without demand, all sums of money advanced by Mortgage•c•
to protect the security hereof pursuant to this Mortgage, including all rusts, reasonable attorney's Tres and other items of
expense, together N•ith interest on each such adv:mcement at the highest lawful rate of interest t?er annum in the State of
Florida, and all such sums and inten•st thereon shall t?e sec•und hereby.
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11. All suns of money sw•un•d hen•hv shall he• payable N~ithout any n•liet N~hatever from :rny valuation ur :rppr:use•
s went I:IN'ti.
12. If default t,e made in p:rymant of :uw instalment of principal or interest of the Note or any part thare•ut whin
due, or in paymrnt, when due, or any other sum secured hereby, or in I?ertormanc•e of any of Mortgagor's obligations, coven-
ants or agreements hereunder, all of the indebtedness secure•cl hereby shall hee•ume and be immediately due and payable at the
option of \lortgagee, without notice or demand which are hereby expressly waived, in whirh event Mortgagee may :+v:+il itself
of all rights and remedies. at law or in equity, and this Aortgage may be ioree•luse•d with all rights and remedies afforded by
the laws of Florida and Mortgagor sh:dl pay all costs, charges and extxnses thereof, including a reau?nable :rtturney•s fee,
including all such rusts, extx•nse•s :+nd atlurney•s fe•e•s Gx am• retrial, rehearing or aptx:+ls. The indebtedness secured hereby
shall tzar intrust at the highest lawful rate of interest t?ar annum in the State of Florida fmm :+nd after the date of :+ny
such default ut Alurtgagor. It the :lute provides fur instalment payments, the Mortgagee may. at its option, collect late
charge not to exceed two rents for each one dollar nut paid to the 11~irtgagea whet. due, to mimbursc> the, 1lurtgagee fur
ext,e•nse's in collecting and sen•iring such instalment p:+yments
l3. If default Ix: made in payment, N'hen due, of any indebtedness see•urecl herel,y• or in tx>rtormanre of am• of
Alortgagor•s obligations, covenants or aKrerment hereunder:
:s
lal Mortgagee is authorized at any time, without notice, in its sole discretion to enter ulwn and take Ixs~ce•ssiun of
Ihc• \furtgaged Prol?erty or any part thereat, to tx•rforrri env acts Mortgagee deems nrre_ss:+n or prol,er to consen•a the
security -and Iu rollec•t and receive all rents, issuc•c and profits thereof, including these past due as wf'II :,s those, accruing
thereafter. and
lhi Mortgagee shall be entitled, as a swatter of strict right, without notice and exl?:+rte, and without regard to the
~ value or cxrupancy of the security, ur the solvency of i~tortgagur, ur the adequacy of the Mortgaged Yrotx:rty as security fur
the Note, to have a receiver aplwinte•d to enter utx,n and take 1?ci•e.4a's.4iun ut the 111ortK:+Ked Prol?erty, collect the rents and
pmfits therefrom and apply the setae as the c•mrrt may dire>c•t, such receiver to have all the rights and Iwwers t?ermiEted
under the laws of Florida.
In tither such rase, Mortgagee or the, n•reiver may :+Isu take lxisxssion ot, and fur these purtwsas use, any and all
1?e•rscmal pmtx>rty whirh is a part of the \tortgagrel Property and used by Mortgagor in the rental or leasing thereof or
any part thereof. The ext?ense lincluding receiver's fees, counsel fees. costs and agent's coml?ensationl incurred pursuant
to the powers herein contained shall f,e secured hereby. Mortgagee shall latter t>:+yment of all costs and expenses incurred)
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.~.`~k3~~ PaGE2193