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HomeMy WebLinkAbout2116 - e ~ a • r ~i J~t ~'~~''!"i ' 3 account to pay such charges when due shall bs paid by iVtortgsgor to Mortgagee on demand Ii, by reason of any default by Mortgagor under argr provision at this Mortgage, Mortgages declares aA sums aecttred hereby to be due and payable. Mortgages may they apply any funds iu said account against the entire indebtedness secured hereby. 71re enforceability of the covenant relating to tales. aesessnwnt and innuanee Premiums herein otherwise provided shall not bs afteNed ezcept insofar as those obligstians have been mat by compliance with this paragraph. Mortgagee may trove lima to time at its option waive. and after any such waivor reinstate, any or all p[ovisiow hereof requiring. such deposit, by notice to Mortgagor in writing. While any such waiver is in effect; Mortgagor shalt pay stases, atsessmegt and insurance pretaiumts . as herein elsewhere provided - _ ~ ~ - 4. To promptly pay all tares and aweaments assessed or levied under and by virtue of any state. federal, or municipal law or regulation hereafter passed, sgains/ Mortgagee upon this Mortgage or the debt hereby aocured, or upon its interest under this Mortgage, Provided however. that the total amount so paid for any such "ta:es pursuant to this paragraph togeth- - er with the interest payable on said indebtedness shall not ezoeed the higbed lawful rate of interest in Florida and provided further that in the event of the passage o[ arty such law or regulation imposing a taz or assessment against Mortgagee up• - an this Mortgage or the debt secured hereby. that the entire indebtedness secured .by this Mortgage shall thereupon be- Doane immediately due and payable at the option of Mortgagee. - 5.. To keep the Mortgaged Property insured against loss or damago by Cte+e, ae~d all peri4 insured against by an a:- tended coverage endorsement. and such other risks and perils as Mortgagee in its discntian may require- The policy or policies of such inwrance shall be in the form in general use [rom time to time in ibe locality in which the Mortgaged - Property is situated, shall be in such amount as Mortgasee may reasonably regain.. shall be issued by s company or _ rnmpanies appro:red by Mortgagee. and shall contain a standard mortgagee clause wiW loos payable to Mortgagee. When- ever required by Mortgagee, such policies, shall be delivered immediately to and held by Mortgagee: Any and all amounts received by Mortgagee under any of such policies may be applied by Mortgagee on the indebtedness secured hereby in such manner as Mortgagee may, in its mole discretion.-elect or, at the option of Mortgagee, the entire amount so re~~eived or any part thereof may he released Neither the application .nor the release of any such amounts shall cure or waive any default. Upon exercise of the power at sale given in this Mortgage or other acquisition of the Mortgaged Property_ or any pact thers- ot by Mortgagee, av-k policies shall become the absolute property of Mortgagee. 6: To Brat obtau? tae written consent of Mortgagee, sash consent to be granted or withheld at the sole discretion of Mortgagee, baton (a) removing or demolishing any building now or herea[ter erected on the premises. (b) altering the arrangement, design or structural character thereof, (c) making any ;epaim which involve the removal of structural parts or the exposure of the interior of-such building to the elements, (d) cutting or removing or permitting the cutting and re- - moval of any tr+eea or timber on the Mortgaged Property, (e) removing or exchanging any tangibb personal property which i - is part of the Mortgaged Property. or (t) entering into or modifying any teases of We Mortgaged Property. - 7. To maintain the Mortgaged Property in good condition and repair. indnding but not limited to the ma7ciag of such ' repairs as Mortgagee may from time to time determine to be necessary for the preservation of the Mortgaged Property and to not commit or permit any waste thereof. - - - 8. To comply with all laws, ordinances, regulations, covenants, rnnditions and restrictions affecting the Mortgaged Property, and not to suffer-or permit any violation thereof. 9. If Mortgagor fails to pay any claim, lien or encumbrance which is superior to this Mortgage, or when due, any taz or assessment or insurance premium, or to keep the Mortgaged Property in repair, or shall commit or permit waste, or if then be commenced any action or proceeding affecting the Mort`aged Property or the title. thereto, ur the interest of Mortgagee therein, including, but not limited to, eminent domain and bankri~pfcy or "reorganisation proceedings, then Mortgagee, at its option, may pay.said claim, lien, encumbrance. taz, assessment or premium, with right of subrogation thereunder, may make such ~m and take such steps as it deems advisable to prevent or cure such waste, and gray appear in any such action or proceeding and retain counsel therein. and take such action therein as Mortgagee deems ad- visable;, and :or any of such purposes Mortgagee may a_ dvance sL.~ sums of money, including all costs, r+easoaable attorney a li tees and ether items of a:pease as it deems ueceseary. Mortgagee shall be the sole judge of the legality. validity and priority of any such claim, lien, encumbrance, tar, assessment and premium and of the amount necessary to be paid in satisfaction thereof. Mortgagee shall not be held accountable for any delay_ in making any such payment, which delay may result in any additional interest, costs, charges, a:penaes or otherwise. - 10. Mortgagor will pay to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee - to protect the security hereof pursuant to this Mortgage, including all casts, reasonable attorney's tees and other items of e:pease, together with interest on each such advancement at the highest lawful rate of interest per annum in the State of Florida, and all such -soma and interest thereon shall be secured hereby_ 11. All sums of money secured hereby shall be payable without any relief whatever from anS valuation or appraise- . meet laws. - 12. I[ default be made in payment oI any instalment of principal or interest of the Note or any part thereof when due, or in payment, when due, or any other sum secured hereby or in performance of any of Mortgagor a obligations, e+oven- ants or agreements hereunder, all of the indebtedness secured hereby shall become and be immediately_due sad 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 remedies, at law or in equity; and.thia Mortgage may be foreclosed with all rights and remedies afforded by the lav;~a of Florida and Mortgagor shall pay all costa, charge and ezpensea thereof, including a reasonable attorney's fee, including all such costa, ezper~ses and attorney's fees for any retrial, rehearing or appeals. The indebtedness secured hereby - shall bear interest at the highest lawful rate of interest per annum in the State of Fbrida from and after the date of any such default of Mortgagor. If the Note provides for instalment p®yments, the Mortgages may, aE its option, collect agate - cbarge not to e: -ced two cents [or each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee foi ezpenaes in rnllecting and servicing such instalment payments. - 13. If default be_ made in payment, when due, of any indebtedness secured hereby. or in perionnance of any of - Mortgagor s obligations, rnvenanta or agreement hereunder: (a) Mortgagee is authorized at any time, without notice, in its sole discretion to enter upon and take possession of the Mortgaged Property or any part thereof, to perform any acts MortgageE deems necessary or proper to conserve the security and to collect and receive all rents, issues and profits thereof, including those past due as well as those accruing thereafter: and - (b) Mortgagee shall be entitled, as a matter of strict right, without notice and ezparte, and withwt regard to the value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property as security ter the Note, to bane a receiver appointed to enter upon and take possesdon of the Mortgaged Property, collect the rents and profits therefrom and apply the same as the rnnrt may direct, such receiver to 6a~~e all the rights artd powers permitted under the laws of Florida. - In either aur6 case,. Mortgagee or the rea~eiver rosy also take possession ot, and for these purposes use. any and all - personal property which is a part of the Mortgaged Property and used by Mortgagor in the r.~ntal or leaning ihere~f or - any part thereof. The ezpense (including receiver's fees, counsel fees, costa and agent's compensation) inetrrr+ed pursuant to the powers herein contained shall be secured hereby. Mortgagee shall (after payment of all coats and ezpeases incurred) -2- 800J~~ ~ACf~~ - -is}`}''