The URL can be used to link to this page

Home My WebLink About1453 T R 41) 3/ account b pay ruck charges when due rhal~ lw paid by Mortsagor b Mortgages oN lll~d. , II. b0 of any default by Martpgar candor any provision of this Mortgage, Mortgagee declares all soma assured be»by to bs dw ar?d psyabk, Mo~gagae mny then apply aqy funds in said account against the satire indebtedness secured horsby. TM enforceability of tbs. covenants relatiai b taxer. and inearanoa pewmiuiw'' otberwi~s provided r6a11 not bs effected a:rapt iawtu w thane obligations have bwa met by eompliam,e wiW ttti~ paragraph. lrloetgagoe anRy from time b time at its option waive std after nay wch waiver reinststa anq or.all peovisio~as hereof requiring such deposits` by notice b Mortgagor is writing. While any sntcb waive is is effect, Mortgagor shall pay to:es, awarmenb ar?d iasuranos premiums ce beneia slsirwbere provided.. ~t. To presptty NAy' all taxes. and asseasmenb assessed or levied under and by ~ittw of any state, federal. or municipal law o: eesulation hereafter passed, against Madgasee upon this Mortgage or the debt hereby sscursd. or upon ib interest under this Mortgage Fronded Zrovrevsr. that the tow amount w paid for aqy such taxes purswat b this p~gragraph togeth- er with the interest payable on said indebtedness shall not. aceecl the highest lawful rate of interest iw Florida and provided further that in the event of the paseege of any such law or resulation impasiag a tax or asseament against Mortgagee ups on this Mortgage or the debt secured hereby, that tbs entire indebtedness secured by }his Mortgage shall thereupon be- corue imrasdiatety due and payable at the option of Mortgagee. - 6. ~To keep the Mortgaged Property iawred againd toes or damage by fire, and all,perils insured againd by an u- tended coverage eaa.,~at, ~ and such other risks sad perils ae Mortgagee is ib discreli n may require. 'I`be policy or _ policies of ouch insurazt< > shall be in the form is gaasral cans from time to time ins the Io~lity in which the Mortgaged Property is situated. ahaC~ be in such amount as Mortgagee may reasonably require. shall be sawed by a company or companies approved by M ,nig~ee, and shall rnntain a standard mortgagee clause wiW loos payable b Mortgagee. When- ever regained by Mortgagee, such policies, shall be delivered immediately to and held by Mortgagee. Any sad all amounts received by Mortgagee under any o[ such policies may be applied by Mortgagee oa the indelrtednees secured hereby in ouch manner ss Mortgagce may,' in ib sole discretion; elect or. at the option of Mortgagee, the entire amount so neeeived n any - part thereof may be released. Neither tbe application nos the release of any aucfi amounts shall cocas or waive any defanH. _ Upon a:ercise of the- power of agile given in this Mortgage or.otbsr acquisitionof the MortgaRed~Property or any part t~ere- of by Mortgagee, sorb policies shall become the absolute property of Mortgttsee: . 6. -To brat obtain the written consent of Mortgagee, such consent b be granted or withheld st the sole discretion of Mortgagee, before (a) removing or demolishing any building rww or hejeafter erected on the Premises„ (b) altering the arrangement, design or structural character thereof. (c) zpakins any repairs which involve the removal of dructural parts or the exposure of the interior of such building b the elements, (d) cutting or removing-or permitting the cutting sad re- movai of any trees or timber on the Mortgaged Properly, (e) removing or exchanging any tangibb penoaal Properly which is part of the Mortgaged Property. or (t) entering into or modJying any leases of the Mortgaged Property. 7. 1b maintain the Mortgaged Property ia.good condition ord.repair. indrrting but not limited b the making of such repairs ce Martgas~n may from time to tu®e deternrune to be necessary for the preservation of the Mortgaged Property and b not commit o~ permit nay waste thereof. 8. To comply with-all laws, ordinances, regulations, covenants, conditions and restrictions affecting, the Mortgaged Prapedy, and not to nutter or permit any violafon thereof. - 9. It Mortgagor [ails to pay any claim, lien or encurnt>tiranoe which is superior to this Mortgage, or when due, any tax or aaseasmeat or insurance premium, or to keep the-iN.ar*gaaed Property. in repair, or shall commit or permit waste, .or if there bs oammenoed any action or proceeding affecting -the Mortgaged Property or the title thereto, or the interest of Mortgagee therpia, including, but not limited to, eminent domain and bankruptcy or reorganisation proceedings. then Mortgagee, at _ i;w option, may pay said claim. lien, encumbrance, tae, assessment or premium, with right of subrogation thereunder, may make such repairs and take- such steps as it deems advisable to prevent or care suds waste, and may appear m any wc6 action or prooeeding~ and retain. counsel therein, and take such action therein as Mottgagce deems ad• visible, and for any of such purposes Mortgagee may advance such sums of money, indnding all costs, reasonable attorney's tees sod other items of ezpense as it deems necessary. Mortgagce shall be the sole judge of the-legality, validity and priority ~ of any such claim, lien, arrcumbrarwe, tax, asaeasarent and premium and of the amount necessary b. be paid in aatietaction - thereof. Mortgagce shall not be held accountable tot any delay car making any auci. payment, which delay may result in i soy additir~nal inter+eat, casts, charges, expenses or otherwise. 10. Mortgagor will pay b Mortgagee, immediately and without demand, all sums of money advanced by Mortgagce - to protect the security hereof pursuant to this Mortgage, including all cosh, reasonable attorney's fees and other items of E expense, together with interest on each ouch advancement at the highest lawful rate of interest per snrtnm in the State of Florida. and all such sums and interest thereon ehe]i be secured hereby. _ 11. AU sums of money secured here'~y shall be payaok without any relief whatever from any valuation or ap~praise- went Iaws_ - 12 If default be made is payment o[ any instalment of principal or interest of the Note or any part t:~ereot vrhen due, or in payment, when due, or any other sum secured hereby, or in performance of any of Mortgagor's obligations, coven- ants or agreemeab hereunder, all of the irrdebtedneaa secured bereby shall become and be immediatdy due and payable at the ' option of Mon'tgagce, without notice or demand which are hereby- expressly waived, in which event Mortgagce may avail itself of all righb and remedies, at law ar in equity, and this Mortgage mAy be tor+ecloaed with all righb and remedies afforded by the- laws of Florida and Mortgagor shall pay all cosh, charges and .:pensea thereof, including a reasonable attorney's tee, including all such coats, expenses and attorney's tees [or any retrial, rehearing or appeaia. The indebtedness secured hereby shag bear interest at the highest lawful rate of interest per annum in the State of Florida from sad after the date cf any wch default d Mortgagor. It thy: Dote provides for instalment payments, the Mortgagce may, at ib option, collect a late charge not b exceed t~,?a cents for each one dollar rwt paid b the Mortgagce -when due, to reimburse the Mortgagee for expenses in collecting and servicing such instalment payments- g 13. It default be- made rn payment, when due, of any indebtedness secured hereby, or is pertornrance of any of i Mortgagor's obligations, covenants or agreement hereunder: (a} Mortgagce is authorised s+! any time, without notice, in its sole discretion to enter upon and take possession of the Mortgaged Property or any pad thereof, to perform any acts Mortgagce deems necessary or proper to oonss~ve tbP ~ seauity and to collxt and receive all rents, issues and profib thereof, including those past due as wdl as those aecrnins thereafter, era _ _ - j (b) Mortgagee shall be entitled, as a matter of strict right, without notice and ezparte, and without regard to the - - - value or occuFancy of the security, or the solvency of Mortgagor, or the adequacy ++f the Mortgaged Property as security for _ ` tbe Note, b have a receiver appointed to antes upon and take possession of the Mortgaged Property, collect the r+eab and I -profits tlreretrom and apply the same as the c«rd may direct, arch receiver to Gave all -the rights and powers permitted ~ under the laws of Florida. In either such case, Mortgagce or the receiver may also take possession ot, and tor. these prrrpwea use. any sad ali personal property which is a pad of the Mortgaged Property and used by Mortgagor in the rental or leasing the~rent or any part thereof. The expense (iadudeng reoeiver'i toes, counrd tees, coda and agent's compensation) incurred pursuant ~ to the powers herein contained shall be secured hereby. Mortgagee shall tatter payment of all cads and expenses incurred) -2- r~i452 - ~ ~ ~