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Home My WebLink About1790 ~ ~ ` it .f•'J ~ ~ ucc•uunt to Ir:ry such churgt>s when due shall Ire lurid by Mortgagor to Mortgagee on demand. 1(, by reason of any detuuh by I1lortgagor under any pmvisiun of this Mortgage, Atorlgagee det•lares all sums secured heret?y to lee due and Imyuble, Mortgagee may then apply any funds in wrid account against the entire indebtedness secured hereby. The enforceuhility of the t•ovenunts relating to (axes, assessments and insuran~r premiums herein otherwise pmvided shall not he utfectetl except ir?sotur us those obligations have been met by compliance with this Iurnrgarph. Mortgagee may from lime to time at its option waive, and after any such waiver reinstate, any or all provisions hereof reyuiriug such deposits, by notice to Iltortgagor in writing. While any such w:+iver is in effect, Mortgagor shall Ix?y taxes, assessments and insurance premiums as herein elsewhere prorided. 4. To promptly Iu?y all taxes and assessments assessed or levied under and by virtue of any state, tederd, or munic•ilurl law or regulation hereafter Iutssed, against Mortgagee utwn this Mortgage or the debt hereby secured, or ulwn its interest under this l1lortgage, provided however, that the total amount so paid for any such taxes pursuant to this Iurragrrph togeth- er with the iatercal Iu+ynble on said indehtedn~:~ shall not exceed the highest lawful rote of interest in Florida and provided further that in the event of the Iurssage of any such law or regulation imlraving a tux or assessment against 1llortgugee up- on this Mortgage or the dept secured hereby, that the entire indebtedness secured by this Mortgage shall thereulwn he- cume immediately due and payable at the option of Atortgagee. 5. To keep the Mortgaged Properly insured against loss or damage by fire, and all Ix•rils insured against by un ex- tended coverage endorsement, and such other risks and Irerils as INorlg:rgee in its discretion may reyuire. The Iwlicy or lwlieies of such insurume shall he in the form in genend use fmm time to time in the locality in which the Mortgaged 'mlrerty is situated, shall Ix in such amount as Mortgagee may reasonably require, shall lee issued by a t•omlurny or companies approved by t1lortgagee, :rod shall cvrnhrin a standard mortgagee clause with (ate Iuryable to Mortgagee. Wht>n- ever required by 1ltortgaget•, such Iwlicies, shall he delivered immediately to and held by Mortgagee. Any and all amounts rtc•eived by Mortgagee under any of such policies may im applied by l4tortgagee on the indehtednes_c second hereby in such manner as Mortgagee may, in its sole discretion, elect or, at the option of Mortgagee, the entire amount str rrc•eived or any turrt thereof may he rele:u;ed. Neither the applic•alion nor the release of any such amounts shall cure or waive any default. Upon exercise of the Iwwer of sale given in this Mortgage or other acquisition of the Mortgaged Pmlrt•rty or any Iurrt there, of by Mortgagee, such Iwlicies shall trec•ome the ntrsolute pmlx>rly of Mortgagee. R. To first obtain the written c•onsenl of Aortgagee, sut•h r•onsent to Ire grrntct1 or withheld at the stele diu•retiun of Mortgagee, tre(ore (a) removing or demolishing any building now or hereafter erected nn the premises, Ibl :dtering the arrangement, design or structural chanrcter thereof, Icl making any retmirs which involve the removal of structural parts or the exlwsure of the interior of such building to the elements, Idl cutting or removing or Ix•rmitting the t•rrtting and re- moval u( any trees or timber on the Mortgaged Pmlx•rty, le 1 removing or exchanging any tangible I?eracrnal property which is Iurrl of the Mortgaged Pngx•rty, or If1 entering into ur mtrditying any lr:a_ties of the Mortgaged Prolx>rty. To maintain the Mortgaged Pmlrerty in gu«I e•ondition and relrair, including but not limited to the making of such relu+irs :rs Mortgagee may fmm time to limp determine to ire ne•crsw-rry for the preservation of the Mortg:rKed Pnrl?evty and to not commit or trermit am• waste then•ut. R. To rmnply with all L•rws, ordinanct•s, n•Kul:rtiuns, covenants, conditions and restrictions affecting the Mortgaged ....r,.. - e,.....•..• - 9. If Mortgagor fails to Ir:ry any claim, lien or encumbrrnce which is sutx•rior to this ~turtR:rKe, ur when due, any tax or :?sst~-cment or insur.+nc•e premium, ur to k+•+•p th+• RtortgagE•d Pmlx•rty in repair, or shall +-ummit or Ix•rmit wast+•, or if there- Ire commented any action or pnx•eeding affecting the Mortgaged Prolrc>rty or thc• title thereto, or the inter>st of Mortgagee therein, including, but not limited Ur, eminent domain and bankruptcy or re•organiz:rtion pnx•eeclings, then Mortgagee, at its option, may pay s:eid claim, lien, encuml?ramr, tax, assessment or premium, with right of subrogation thereunder, may make such relurirs and take such steles as if deems advisable to prevent or cure such waste, and may :grlrear in any such action or pnrt•eeding and retain counsel therein, and take such ae•tion therein :es Mortgagee deems ad- ~isable, and for any of such purlroses lblortgagee may ad~:cnce such sums of money, ineluding all costs, reasonable attorney's lees and other items of exlrense as it deems nece~:rry. Mortgagee shall Ire the sole judge of the: legality, validity and priority of any such claim, lien, encumbrrncc•, tax, asses•:ment and premium and of the amount ner•esvrry to be (raid in satisfaction (hereof. Mortgagee shall not Ire held accountahl+• for any delay in making :rny such p:q•raent, which delay may recall in any addition:?I interest, cost[:, e•harges, exlxnses or otherwise. 10. Mortgagor will pay to Mortgagee, immediately and without demand, all sums of money advanced by Mortgage>• I Y { g: g gall costs, reasonable attorney's tees and other items of to xotect the se~t•urit hereof rursuant to this Mort + e, inc•ludin exlrense, together with interest on each such adcancrment at the highest lawful raft. of interest Ix•r annum in the Stag of I•'lorida, and all such sums and inten>st then•on shall Fee sec•und hereby. 11. All sums of money sc•curc•d hen•hy shall Irc• Ir:ryahle without any n•liet whatever from any valuation or appraiw• nn•nt laµs. l2. If default i?e• made in Ir:ryment of :ury inst:dment of principal or interest of the Note or am• part thert>crt when due, ur in payment, when due, or :my other sum secured hereby, or in Ixrtormance of any of Mortgagor's obligations, coven-~ i ,rots or agreements hen•onder. all of the indeMtdnt•ss secured hen>hy shall hec•ome and tee immediateh• due and Ir:ryable at tht• E option of Mortgagee, without notice or demand whie•h are hereby exprecrly waivtd, in which event I?lortgagee may avail itse•11 of all rights and remedies, at law or in equity, and this Mortgage may Ire foreclosed Kith all rights and remedies atforde•cl by the, laws of Florida and Aortgagor shall Ir:ry all costs, charges and expenses thercrrf, including a reasonable attorney's lee, including all such costs, expenses and attorney's fees for any retrial, rehearing or aplxals. The indebtedness see•ured hereby shall tzar interest at the highest lawful rate of interest Irer 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 ?Mortgagee may. at its option, t•ollet•t a late ~ charge not to exceed two cents for each one dollar not paid to the :ltortt:agt'e' when due, to reimhur4e the i~iortgage>e> fur exlra>nses in collecting and servicing such instalment payments- , l3. If default Ia. made in payment, when due, of any indeMednc>w second hereby, or in Irerformance of any of Atortg:rgor•s obligations, covenants or agreement hereunder: i Ial Murtt:agtx is authorized at any time, without notice, in its sole diw•retion to enter utwn and take Irc?~sessinn of the Mortgaged Prolerty or any part there>o(, to Ix>rtorm any acts Mortgagee deems net•c:~sary or pm(rer to c•onsen•e the see•unty and to collect and receive all n•nts, issues and pmtits thereof, including those Ir:rst due as well as thcrse• accruing thereafter. and (hl Mortgagee shall Ire entithd, as a matter of strict right, without notice and exparte, and without regard to the value or tx•cupancy of the set•rrrity, or the soh•c•ncy n( Mortgagor, or the adequacy of the Mortgaged Prolre•rty :+s se>e•urity for the Note, to have a receiver aplwinted to enter ulwn :rod take I>trscesgion nt the Hlortg:rged Pmlrerty, rnllet•t the rents and pmtits therefrom and apply the acme as the court may diret•t, such receiver to have alf the rights and Iwwers Irermitttd under the laws of Florida. 3 (n either such case, ittortgagee or the receiver may also take Irossession ot, and fur these purlwses use, any and all personal property which is a I?.art of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or any part thereof. The expen.Re lindudinq receiver's fees, counsel tees, costs and agent's comlrensation) incurred pursuant to the powers herein contained shall he secured hereby..?1lortgagee shall )after payment of all costs and expenses incurred) r f -2- 322 Pd~Ei785