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arcuunl to lkry surh ch:?rgew when due stu?11 1?e• p;?id by Mortgagor to MortRugc•f• un"t~emanc~~'•It,•b}y~a~?n o~iinV'tfetault
6v Motlgugur under :u?y pru\•isiun of this Mortgage, MortguKc•e derl:ues all sutras +rrkiireed lat~i+y ~fe"I+e•dtiKM'rid~q+il~bk,
\turtg:?gee may then apply any funds in s:?id account agains! the entire indel?tedrw~ see.'aced-hereby.+~'Iyg~AWget+lbiJjty,ut
the coven;?nts relating to tazex, :+ssesvn?c•nts and insurance premiums herein otherw'ise' provided shall not Ix uttec•tet~ except
insofar as Ihr?se obligations have ix•en n?et by rnmpliance with this 1?.•?n?grnph. Mortgagee miry imm time to time at its
option waive, and after any such waiver reinstate, any or all provisions hereof requiring such delx?.gits, by notirn to
Mortg;gor in writing. While any surh waiver is in effect, Mortgagor shall (>:ry taxes, ascse•ssmenls and insun?nce premiums
as heroin elsewhem provided.
4. To promptly I>:ry .+11 faxes and assa:csmenls as+e:csc•t1 ur Ie•\•icd under and by rirtue nl any state, Ie•derd, or mw?icipa)
I:+w ur regulation hemafler 1+:1.+sed, against Mortgagee' utx+n this Mortgage or the debt hen•by sevund, or ulx,n its interest
under ii+is Mortgage, provided how•rver, th:?t the tots+l amount se+ lu?id for nnv such t:?xes pursuant to this p;?r.+grq?h togeth-
er with the interest p:+yahle on said indebtedness shall not ezeY•ed the highest lawful rnte of interest in Florida and pro\•+ded
further tl?:?t in the event of the pass:+ge of any such Is?w ur regal:+tiun imlxsing a t:+x or :+ssessment aguins/ Mortgagee up-
on this Mortgage ur the debt sec•ur+ed hereby, that the entire tndebtednesg secured 1?y this Mortg:+ge shall thereulx?n lx•-
cunx• imn?ediutely due and I?:n:+ble at the option ut Mortgagee'.
5. To keep the Mortgaged Yrol?erty insunri against los,, or d:+mage by fire, and :?11 tx•rils insured against by an c•x-
tended e•over.?ge endorsement, and such other risks and {+erils as Atortgugee in its discttion may require. The I?oliry or
Ix?lic•irs of such insurance shall Ix• in the form in Kenerd use' from limp to limp in thc• Irx•ality in which the MortgaKeNl
1'rc?lx•rty is situated, shall Ix• in such amount as Mortgage'e' may reasonably require, shall t?e issue•et by a coml?:+ny or
con?l?:u?ies approved by Mortgagee, and shad) contain a stand:+rd mortgaKe•e• cl:cuse with loss I?:+yable to Mortgagee. 1~'hen- .
ever myuirrel Ly 111ortgagee•, such Ix?lie•ies, shall t?e delivered immediately to and held 1>_v Mortgagef•. Any and all amounts
n•ceivcd by 111orlgage•e under any of surh Iwliries may I,e :+pplied Irv Alortgugce on the indebtedness sec'on'd hereby in such
manner as Mortgagee may, in its sc?le disc•retiun, elee•1 or, at the option of 141ortgage•e, the entire amount w reeri\•ed or any
part thereof may Im reieasc•d. Neither the application nor the release of any such':+mounts shall cure or waive any default.
111wn exercise of the Ix+wer of s:+le given in this Mortgage or other :u•quisitiun of the :~lortgage•d 1'rolx rty or any part there-
of by Mortgagee, such Iwlirics shall Ixc•ome the al?solute prolx rty of AtorlgaKf•f•. j
li. '1'o first obtain the written consent of Mortgagee, such ronse•rtt to Ix• Aranteel or withheld at the' sole disc•retiun of
Mortgagee, Ix•tore I:U removinK or demulishinK am• building now .?r hen:+(ter cn•c•te•cl on the premise's, Ibt alterinK the
arranKement, design or structural char.+cter Ihen•e+f, Ic•1 marking any n•1?:+irs w•hirh involve the removal u( strurlurat parts
or the exlx?sure of the interior of surh buildinK to the elements, Id> rutting ur n•nu?vinK or l?ermitting the cutting and m-
moval of any tn•es or timlx•r on the \fortgaKecl Pml?erty, te) n•rnovinK or exchanging any tangible Ix•rsonal prolxrty which
is part of the Alortgay;ecl Yrutx•rty, or (fl enterinK into or mcxlifyinK any lease's of the Mortgaged Yrolxrty.
7. 1'o main4+in the Mortgaged Pngx•rty in t!+xx! cunditiun and n•pair, including Lot nut limited to the m:ekinK of such
n•Ix+irs as MortKagc•r• may from time to time determine to ix•.nccr`s:+n• for the' pn•se•n:+tiun ut the MortgaKc•d Yregx•rty and
to nut commit or Ixrmit any \caste then•ot.
R. 'Cu comply with all la\vs, ontinanc'es, regulaliuns, covenants, rendition. and rc•strictu?ns atfe•c•tinK the MortKaKc•ct
!'n+fx•rly, and not to sutler or I?ennit any violation then•c?f.
4. II Aortgagor tails to pay' any claim, lien or enrun?Lranre which is sutx•rior to this Mortgage, ur when du+•, any' tai
ur aiiea~nient or insurance prentiun?, or U+ keep the R1urlgaKed 1'n>Ixvh• in ny+air, or sh:+ll commit or Ix•nnit waste, or it
there !x• cummenred any artiun ur pror\NNIiaK affecting thc• Mortgaged 1'n+lx•rty or the title thereto, or the interest el
MurlgaKee• therein, inrludinK, but nor limited to, eminent domain and t?:+nknq?tey or reorK:iniu?tion prcx•eeclinKs, then
\lortgagee, at ifs option, m:+y p:+y s:?id claim, lien, encumbrance, tax, assessment or l?remium, with right of subrogation
thereunder, may make surh rel?:+irs and t:+ke serh stets as it deems ad\•ic:+ble to prevent or cum such waste, :+nd m:q•
:+plx•:+r in any surh action or prcx•ee•dinR and mtain reunsc•~ then•in. and take surh artiun therein as Mortgagee dcvms ad-
vis:?ble, and for any of surh purlNSe•s MortKaKe•e m:rn ad\•anre such sums rat money including all costs. reasonable' attorney-s
fees and other items of exl?ense as it deems nec•ess:+n•. MortgaKe•e shalt }x• the sole judKe of the IeFality, validity and priority'
of any' such claim, Lien, enr•umbr,+nce• hex, asse~timent :+nd premium and of the amount nec•e~a+ry to tx• paid in s:riistaction
then•of. biorfKaKe•e• shall nM Ise' held arrnuntahle for any delay in makinK am• surh Iti+yment• which delay may' result in
am• additional interest, rusts' charges, extN•nses or othen\•i~e•.
lU. :~fortg:+Kur will pay to MortgaKce•,inune•cliately .•nd without aemand, all sums of money advanced by MortgaKc•e•
to protect the security heree?t pursuant to this Mortgage, includinx all -'oats, reasonable attorney's fees :+nc! other items of
exl?ense, together with interest on each such advancement at the hiKhest lawful rate of intemst Ix•r :u+num in the State of
Florida, :end all surh sums and interest thereon steal! t?e se'con'd hereby'.
11. All sums of moncw serure•d he•n•hy shall Ix• payable' \vithaut any relief whau•ver from :my valuation or appr:+ise-
nu•nt taws.
ll. If default tK• m:ule in payment of :+rn• n?stalment of pnnrip:+l or inte•rc•st of the Mute or any Iti+rt therc•ol when
due, or in Imyment, w'hP0 due, or any other sum .se'are'd hereby. or in fx•r(ormance of :+ny of Alortg:+gor•s obligations, coven-
ants or agmements hereunder, all of the indebtedness se•s•ure•d hereby shall t+ernme and be immediately due and fr,+yahle at the
option nt Aturtgagee, without nMice or demand which :+re herehv expmssly w;~ived, in which event MortRaKee may avail itself
of all rights and remedies, at law or in equity, and this MortgaKe may lx• tonrlosc•d with all riKhts and remedies afforded by
the laws of Florida and A1ortKaKor sh:?11 pay all rusts, charges and exlx•nses therer?f, including a reasonable attorney's tar,
inrludinK all surh rusts, expenses and attorney's tees for :my retrial, rehearing or appeals. The indebtedness secured hereby
shall 1?ear interest at the highest lawful rate of interest Ixr annum in the State of Florida from and alter the date of any
such default of Mortgagor. If the Note provides for instalment payments, the :4lortgaKee may, at its option, collect a late
charge not to exceed two rents fur each one dollar not Ixi+id to the AlortgaKee when due, to reimburse the Mortgagee fur
exl?ense•s in c•ollec•ting and servicinK surh instalment payments.
13. If det:+ult he made in payment, when due, of :+ny indebte•dne:~s secured hereby, or in I+ertormance of any of
A'IortgaKor s obligations, rc,venanls or :+Rreement hereunder:
ta) Mortgagee is authoriu•d at any time. without notice, in its sc?le discretion to enter ul+on and t:?ke Ix?ssessiun of
the Mortgaged Prol?erty or any lwrt thereat, to lx•rtorm any acts MortKaKe•e deems necessary or proper to consen•e the
security and to collw•t and feN'el\'P all rents, i~cu.•s and profit. the•rw?f, including those past due as well as those' asrruinK
thereafter-. and
{b? AtortKaKee shall 1?e entitled, as a matter of strict right, without notice and exparte, and without regard to the
value or oe•cupanry of the security, or the solvency of ;ltortgaKor, or the adequacy of the Alortgaged Pmlx•rty as security for
the Note, to have a receiver apl?ointe•d to enter ulx?n and take Ix+sses.Rion nt the MortQaKed Pml?erty, collect the rents and
profits therefrom and apply the s:eme as the court may' dire'c't, surh receiver to have all the riKhts and {x?wers 1?ermittecl
under the t:+ws of Florida.
In either surh case, Mortgagee or the receiver may altic? take 1?ossc•ssiun ot, and for these purywses use, any and all
Ix•rsonal prolN•rty which is a part of the Mortgagee) Prol?etty and used by Mortgagor in the rental or leasing thereof or
any' p:?rt thereof. The exl?ense lincludin~ receiver's fees. rcranse•I fees, costs and agent's rnml+ensation) incurred pursuant
h, the Ix+wers herein contained shall F?e secured hereby. \1ortKaKee steal! )after Ix+yment of all costs and expenses incurred)
.2 r~ 319 ~~~E X424
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