Loading...
HomeMy WebLinkAbout1765 ' : . . 1 , a+•c•ount to tray such charges when due shall tee lurid by Mortgagor to Mortgagee on dem:+nd. If, t?v re:u:on of any default by Mortgagor under any provision of this Mortgage, Mortgagee declares all suns secured hereby to tee due and fx+yahle, Mortgagee may /hen apply any funds in said accrount against the entire indebtedness secured hereby. The enforceability of the covenants relating to taxes, assessments and insurance premiums herein otherwise provided shall not be affected except insofar as those obligations have been met by compliume with this paragraph. Mortgagee may from time to time at its option waive, and after any such waiver reinstate, :+ny or all lrro~isions hereof requiring such deposits, by notice to htortgagor in writing. V1'hile any such waiver is in effect, Mortgagor shall pay taxes, assessments and insurance premiums :+s herein elsewhere provided. 4. To promptly lrr+y all taxes and assessments assessed or levied under and by virtue of any state, federk+l, or munic•ifral law or regulation hereafter grassed, against Mortgagee ulron this Mortgage or the debt hereby secured, or ulron its interest under this tilortgage, provided however, that the total amount so lwid for any such taxes pursuant to this lk~r.+graph togeth- er with the interest lx+yahle on said indebtedness shall not exceed the highest lawful rate of interest in Florid:+ :+nd provided further that in the event of the passage of any such law or regulation imposing a tax or assessment against Mortgagee up- on this Mortgage or the debt secured hereby, that the entire indebtedness secured by this Mortgage shall thereufwn be- come immediately due and payable at the option of Mortgagee. 5. To keep the Mortgaged Property insured against loss or damage by fire, :+nd all perils insured :+g:+inst by :+n ex- tended croverage endorsement, and such other risks and perils as Mortgagee in its discretion may require. The policy or folicies of such insurance shall be in the form in general use from lime to time in the locality in which the Mortgaged Property is situated, shall he in such amount :+s Mortgagee may reasonably require, shall be issued by a company or comlranies approved by Mortgagee, and shall crontain a standard mortgagee clause with loss frayable to Mortgagee. When- ever required by Mortgagee, such policies, shall tee delivered immediately to and held by Mortgagee. Any and nll amounts reirived by Mortgagee under any of such policies may Fee applied 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 ihereof may tee released. Neither the alrlrlicalion nor the release of any such amounts sh:+ll cure or waive any default. Lipon exen•ise of the frower of s:+le given in this Mortgage or other acquisition of the Mortgaged Profrerly or any part there- of by Mortgagee, such policies sl+:+ll become the absolute property of Mortgagee. 6. To first obtain the written consent of Mortgagee, such consent to tee granted or withheld at the sole discretion of Mortgagee, lretore la) removing or demolishing any building now or hereafter erected on the premises, Ib) altering the arrangement, design or structural character thereof, (c) .making any repairs which invoke the removal of structural parts or the exposure of the interior of such building to the elements, Id1 cutting or removing or permitting the cutting and re- ; moral of any trees or timber on the Mortgaged Property, le) removing or exchanging any tangible personal proferty which is lr:+ri of the Mortgaged Pmfrerty, or If) entering into or modifying any leases of the Mortgaged Profreriy. 7. 'I'o maintain the 114ortgaged Property in good condition and repair, including but not limited to the making of such refr+irs Mortgagee may from time to time determine to tee necessary for the preservation of the Mortgaged Property :+nd to not commit or frermit any waste thereof. R. To comply with all laws, ordinances, regulations, crovem+nts, conditions and restrictions affecting the Mortgaged Pmlrerty, and not to suffer or permit any violation thereof. 9. It I1lortgagor L•+ils to pay any claim, lien or encumbr.+nce which is sufrerior to this Mortgage, or when due, any tax nr :+ssessment or insuramr premium, or to keep the Mortgaged Property in repair, or shall commit or frermit waste, or i( there tee commenced any action or praeeding affecting the Mortgaged Property or the title thereto, or the interest n( Mortgagee therein, including, but not limited to, eminent domain :+nd bankruptcy or reorganization praeedings, then Mortgagee, at its option, may fray said claim, lien, encumbrance, tax, assessment or premium, with right of subrogation thereunder, may make such refmirs and take such steps as it deems advis:+ble to prevent or cure such waste, and may :+plrear in any such action or praeeding and retain counsel therein, and take such action therein as Mortgagee deems ad- visable, and for any of such fiurfxrses ?\lortgagee may advance such sums of money, including all costs, reasonable attorney's fees and other items of expense as it deems necess:ry. 141ortgagee shall tee the sole judge of the legality, validity and priority of any such claim, lien, encumbr.+nce, tax, assessment and premium and of the amount necessary to Fre paid in satisfaction thereof. Mortgagee shall not tx held accountable for any delay in m:+kinq any such payment. which delay may result in any additional interest, costs, charges, expenses or othen+ise. ~I 10. Mortgagor will fr:+y to Mortgagee, immediately and without demand, all sums o[ money advanced by Mortgagee to protect the security hereof pursuant to this Mortgage, including all costs- reasonable attorney's fees and other items of I expense, together with interest on each such advancement at the highest lawful rate of interest fret annum in the State of i Florida, and all such sums and interest thereon shall Ire secured hereby. j 11. All sums of mone~• ur•ured hereby shall Irc~ payable without any relict whatever from any valuation or apprai::e- ! ment laws. gi 12. It default tee made in payment u( any instalment of principal or interest of the Note or any fr:+rt thereof when due, or in payment, when due, or any other sum secured hereby, or in Performance of any of btorigagor's obligations, coven- ' ants or agreements hereunder, all of the indebtedne~ti secured hereby shall frec•ome and tee immediately due and frayable 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 law or in equity, and this i?IortgagP may tee foreclosed with all rights and remedies afforded by the laws of Florida and Dtorigagor shall fr:+y all costs, charges and exfenses thereof, including a reasonable attorney's fee, including all such costs, exfenses and attorney's tees for any retrial, rehearing or appeals. The indebtedness secured hereby shall treat interest at the highest lawful rate of interest free 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 1ltortgagee when due, to reimburse the Mortgagee for expenses in c•ollec•tinq and sen•ic•inq such instalment payments. 13. If default tee made in payment. when due, of any indehtednes.4 secured hereby, or in performance of any of Mortgagor's obligations, rnvenants or :+greement hereunder: la) Mortgagee is authorized at any time, without notice, in its sole discretion to enter ufron and take frossession of the Mortgaged Profrerty or any part thereof, to perform any acts Mortgagee deems necessary or protect to c•onsen•e the security and to collect and receive all rants, issues and profits thereof, including those past due as well as those accruing ~ thereafter: and - Ihl Mortgagee shall Ire entitled, as a matter of strict right, without notice and exfrarie, and without regard to the ~ value or occufrancy of the security, or the sohency of Mortgagor, or the adequacy of the Mortgaged Property as security for the Note, to have a receiver appointed to enter ufron and take frossession of the Mortgaged Property, collect the rents and g rmfits therefrom and a r rl the same as the court may direct, such receiver to have all the rights and powers permitted r`. 1 1 1 Y under the laws of Florida. In either such case, Mortgagee or the receiver may also take frossession of,-and for these purfroses use, any and all personal prolreriy which is a part of the Mortgaged Profreriy and used by Mortgagor in the replal or leasing thereof or any part thereof. The ezlrense (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 frayment of all costs and expenses incurred) -2- 8!hK 3~U PACE 1 16~ - .f _