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account to Ix+y such charges when due shall t+e Ix+id by Mortgagor to I1lortguq+.~c+ un demand. lt, by mason of any default
by Mortgagor under any provision of this Mortgage, Mortgagee declares all sums secured hereby to be due and Iu+yable,
Mortgagee may then apply any funds in said account uq:~inst the entire indebtedness secured hereby. The entorceahility of
the covenants relating to taxes, ++ssessments and insurance premiums herein otherwise provided shall not l+e affected except
insofar us those obligations have teen met by coml?liance with this paragraph. Mortgagee may from time to time ut its
option waive, and after any such waiver reinstate, any or :+11 provisions hereof requiring such deposits, by notice to
Mortgagor in writing. White any such waiver is in effect, Mortgagor shall pay taxes, assessments and insurance tremiums
as herein elsewhere provided.
4. To promptly pay all taxes and assessments assessed or levied under and by virtue of any state, teden+l, or munic•ilk+l
law or regulation hereafter passed, against htortgugee upon this Mortgage or the debt hereby secured, or upon its interest
under this Mortgage, provided however, that the total a?nount so paid for any such taxes {wrsuant to this pur:+graph togeth-
er with the interest payable on said indebtedness shall not ezcred the highest lawful rnle of interest in Florida and provided
further that in the event of the passage of any such law or regulation iml?osing a taz or .+ssessment against Mortg:+gee up-
un this Mortgage or the debt secured hereby, that the entire indebtedness secured. by this Mortgage shall thereutwn t+e-
c•ome immediately due and fx?yable at the option of Mortgagee.
5. To keep the Mortgaged Property insured against lose or damage by fire, and all perils insured :+gair+st I?y an ex-
tended c•over.+ge endorsement, and such other risks and perils as Mortgagee in its discretion may require. The policy or
twlicies of such insurance shall be in the form in general use from time to time in the locality in which the Mortgaged
Property is situated, shall be in such amount as Mortgagee may reasonably require, shall be issued by u comlk?ny or
crompanies approved by Mortgagee, and shall contain a standard mortgagee clause with loss I+ayable to Mortgagee. When-
ever required by Mortgagee, such fwlicies, shall t?e delivered immediately to and held by Mortq:+gee. Any and all amounts
received by Mortg:gee under any of such policies may t,e applied by Mortgagee on the indet?tednes~ secured hereby in such
manner as Mortgagee may, in its sole discretion, elect ur, at the option of Mortgagee, the entire amount so received or any
hart thereof may be released. Neither the application nor the release of any such amounts shall cure or waive ary det:+ult.
Upon exercise of the power of sale given in this Mortgage or other ac-quisition of the Mortgaged Prot?erty or any f?.~rt them-
of by Mortgagee, such policies shall become the absolute property of Mortgagee.
6. To first obtain the written consent of Mortgagee, such consent to t?e granted or withheld at the sole discretion of
Mortgagee, before lal removing or demolishing any building now or hereafter erected on the premises, Ib) altering the
arr+ngement, design or structural character thereof, (c) making any repairs which involve the removal of structural parts
or the exf+osure of the interior of such building to the elements, (d) cutting or removing or permitting the cutting and re-
moval of any trees or timber on fhe Mortgaged Property, le) removing or exchanging any tangible I+ersonal property which
is Ix+rt of the Mortgaged Property, or (f) entering into or modifying :+ny le:+ses of the hlortq:+ged Proferty.
7. To maintain the Mortgt+qed Property in good condition and cof?.~ir, including but not limited to the making of such
refx+irs as Mortgagee may from time to time determine to F?e necessary for the pregen•ation of the Mortgaged Property and
to not commit or hermit any waste thereof_
8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Mortq:+R~
Properly, and not to suffer or I+errr+it any violation themof_
9. If Mortgagor tails to Ix+y any claim, lien or encumbrance which is sul+erior to this 114ortgage, or when due, any tax
or assessment or insurance premium, or to keep the Mortgaged Property in retx+ir, or shall commit or I>ermit waste, or it
there t+e commen.^ed any action or proceeding affecting the Mortgaged Prol+erty or the title thereto, or the interest of
Mortgagee therein, including, but not limited lo, eminent domain and bankruptcy or reorganization proceedings, then
~4ortgagee, at its option, may {k3y said claim, lien, encumbrance, tax, assessment or premium, with right of subrogation
thereunder, may make such repairs and take such steps as it deems advisable to prevent or cure such waste, and may
apt?ear in any such action or proceeding and retain counsel therein, and take such action therein as Mortgagee deems ad-
visable, and for any of such purposes Mortgagee may advance such sums of money, including all costs, reasonable attorney's
tees and other items of expense as it deems necess:ry. Mortgagee shall be the sole judge of the legality, validity and priority
of any such claim, lien, encumbr+nc•e, tax, as-4esgment and premium and of the amount necess:?ry to be paid in satisfaction
i thereof. Mortgagee shall not be held accountable for any delay in making any such tx?yment, which delay may result in
any additional interest, costs, charges, exl+enses or otherwise.
10. hortgagor will Ix+y to 1~lortgagee, immediately and without demand, all sums of money advanced by blortgagec
to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's fees and other items of
€ expense, together with interest on each such advancement at the highest lawful rate of interest per annum in the State of
~ Florida, and all such sums and interest thereon shall t,e sec•ured hereby.
a ll. All sums of money secured hereby shall I,e I?:+yable without any relief whatever from any valuation or appr.?ise-
€ ment laws.
12. If default be made in payment of any instalment of principal or interest of the Note or any fart thereof when
) due, or in payment, when due, or any other sum secured hereby, or in performance of any of Mortgagor's obligations, coven-
ants or agreements hereunder, :+11 of the indebtedness secured hereby shall become and be immediately due and payable 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 comedies, at law or in equity, and this Mortgage may be foreclosed with all rights and remedies afforded by
the laws of Florida and Mortgagor shall pay all costs, charges :rnd ezpenses thereof, including a reasonable attorney's fee,
including :+11 such costs, exf+enses :+nd attorney's fees for :any retrial, rehearing or appeals. The indebtedness secured hereby
shall bear interest at the highest lawful rate of interest f?er annum in the State of Florida from and after the date of any
such default of Mortgagor_ It the Note provides for instalment fx+yments, the 2Llortgagee may, at its option, collect a late
charge not to exceed two cents for each one dollar not p:+id to the Aortgagee when due, to reimburse the 1ltortgagee for
exf?enses in collecting and servi+•ing such instalment payments.
13. If default be made in payment, when due, of any indet,tednes-s sec•umd hereby, or in performance of any of
~ Mortgagor s obligations, covenants or agreement hereunder:
(a) Mortgagee is authorized at any time, without notice, in its sole discretion to enter upon and take Possession of
the Alortgaged Property or any fx+rt thereof, to f?ertorm any acts 111ortgagee deems necessary or proper to consene the
security and to collect and receive all rents, incurs and profits thereof, including those past due :+s well as those accruing
3 thereafter: and
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Ih) I1lortgagee shall be entitled, as a matter of strict right, without notice and exparte, and without regard to the
a value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the 113ortgaged Property as security for
the Note• to have a recriver appointed to enfer ul+on and take possession of the Mortgaged Property, 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 possession ot, and for these purposes use, any and all
I?erscmal pmf+erty which is a (kart of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or
any part thereof. The expense lincluding receiver's fees, counsel fees, costs and agent's compensation) incurred pursuant
to the powers herein contained shall be secured hereby. Mortgagee shall latter payment of all costs and ezpenses incurred) ,
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