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HomeMy WebLinkAbout0454 s e account b pay ac6 charges when due ohsU bs paid by Mortgagor b Mortgages on demand. It, by reason of any default by Mortgagor under aqy provision of thin Mortgage, Mortgages declatw aD anti escur~d hereby b bs due and payable. Mortgagee may then appl,r any funds in said account apimt the entire indebtedness sec+trsd hereby. The sntorceability of firs ~retlsata ~iatiog lu tar?es„ - .~.ii i:.:.: pits harms ~ ~ ~t be rtft~ted +~~1 ' ~ ineotet a. those have been met dy oompuaoos witA tuts psusgrapo. eav~risesee ~ taws. ::w~ M• w~:; option waive. ord. attss say, sudt waives. reioNate. aq1? oe all provisions hereof rpuirini such dePoeite?_ by notice b Mortgagor in writing.. While. aqy such wdver ie iA ettect,~ Mortgagor ehaA Pw taxes, assaesasnts and insurance pra?iunr a. herein elsewhue provided. ~ , 4. To promptly pay all fazes and assessment assessed or levied under and by virtue of any stets, federal. or municipea law ar retulation 6sreitter Paved, esainet Mortgagee upon this Mortgage 4r the debt hereby- aenteed. or upon its iatered under this Mortgage, pravidd howawr. that the total amount so Peid to: any such taxes pureua4t b.this pacagsaph togeth• er with the inter+at payable op said indsbtedneee s6f}U ,not exceed the highest. lawful- rate o[ interest in Florida and provided [urtMr flat is the event of the passage of any such law or regu4tioa imposing a tar or aesesarrrent against Mortgagee, up- on thin Mortgage or the debt secured hereby. flat the entire indeMedr~eas secured by this Mortgage shall thereupon be• come. immediately due aid payable at• the option of Mortgages. . S. To keep the Mortgaged Property insured againd loos or danoage by firs, and all peri4 insured against by an ez- tended coverage erdorasmeal, and ach other rich and perils ae Mortgagee is ib discretion may require. The Policy or policies of ach inaranos shall bs In ~ths form is general use from tins b time in the locality in which the Mortgaged Property is situated, shall be is ach amount a• Mortgages may reasonably require, shall bs isaed by a company or companies approved by Mortgages, and shall contain a dandard mortgagee clause with loss payable b Mortgages. Wben- eves required by Mortgagee, wch policies, shall be delivered immediately b and held by Mortgagee, Any and all anwunt received by Mortgagee under any of ach policies may be applied by ~ Mortgagee on the indebtedness secured hereby in ach manner as Mortgagee may, in ib sole discretion. elect or, at the option of Mortgages, the entire amount so received or any part thereof may bs released. Neither the application rwr the release of any each amount shall care or waive any detauk. Upon exercise of the power of sale given in this Mortgagb or other acquisition o~ the Mortgaged Property or any pert there- of by Mortgagee. ach policies` .ball become the absolute property of Mortgagee. 6. To Cud obtain the written rnnsent of Mortgagee. ac6 consent b be granted 'or withheld at the sole discretion of Mortgages. before (a) removing or demolishing any building now or hereafter erected on the premises, (b) altring the arrangement. design or dructural draracter thereof. (c) making any repairs which involve the reasoval of dructural part . or the ezpoare of the interior o[ sorb building to the element, (d) coffins or removing or permitting the cutting and re- moval of any trees or timber on the Mortgaged Property, (e) nunoving or ezdanging any feasible pe»ond Property which is part of the Morttaged Property, or (i) entering inb or modifying say leases of the Mortgaged Property. 7. To maintain the Mortgaged Property in good condition and repair, induding but not limited to the making of ach repairs as Mortgagee may from time b time determine b be necessary for the preservation of the Mortgaged Property and b not commit or permit any wade thereof. tt. To comply with all laws, ordinances, regulations, rnvenants, conditions and tedrictiom affecting the Mortgaged Property, and not to after or permit any violation thereof. 9. It Mortgagor fails to pay any claim, lien or encumbrance which is superior to this Mortgage, or when due, any tax or assessment or inaranee premium, or to keep the Mortgaged Property in repair. or shall commit or permit wade, or it there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto, or the intered of Mortgagee therein, including, but rat limited to, eminent domain and bankruptcy or reorganimtion Proceedings. then Mortgagee, at it optioq may pay acid claim. lien. encumbrance. tom, assessment or premium, with right of abrogation thereunder. may make such repairs and take such steps as it deems advisable b prevent or cure ach wade, and may appear in any such action or proceeding and retain. counsel therein, and take ach action therein as Mortgagee deems ad- visable, and for any of ach Purposes Mortgagee may advance such sums of money, including all costa, reasonable attorney's fees and other items of a:pease as it deems necessary. Mortgagee shall be the sole judge of the legality, validity and Priority of any such claim, lieq encumbrance, tar, aaeaament and premium and of the amount necessary b be paid in satisfaction thereof. Mortgagee shall not be held aooountable for any delay in malting any ach Payment, which delay may result in I any additional interest, cash, charges, espenses or otherwise. 10. Mortgagor will pay to Mortgagee, immediately and without demand. all sums of money advanced by Mortgagee b protect the security hereof pursuant b this Mortgage, including ap costa, reasonable attorney's teen and other items of e:pease, together with intentit on each such advancement at the highed lawful rate of tatted per annum in the State of ~ Florida, and all ach sums and intentit thereon shall be secured hereby.. 4 11. All ems of money secured hereby shall be payable without any relief whatever from any valuation or appraise- ment laws. 12 It default be made in payment of any instalment of principal or interest of the Note or any part thereof when due, or in payment, when due, or any other am secured hereby, or in performance o[ any of Mortgagor s obligation. coven- ants oragreement hereunder, all of the indebtedness secured hereby shall become and~be immediately due and payable at the option of Mortgagee, without notice or demand which an hereby ezptedy waived, in which event Mortgagee may avail itself of all rights and remedies. at law or in equity, and this Mortgage may be foreclosed with all right and remedies afforded by the laws of Florida and Mortgagor shall pay all cosh, charges and espenses thereof, including a reasonable atbrney's fee, including all ach costs, a:penes and attorney i fees for any retrial, rehearing or appeals. The indebtednew secured hereby shall bar interest at the highest lawful rate of interest per annum in the State of Florida from and after the date of any such default of Mortgagor. If the Note provides for indalment payments, the Mortgagee may. at its option. collect a late charge not to ezceed two cents for each one dollar not paid to the Mortgagee when due, b reimburse the Mortgagee for ezpenses in rnllecting and servicing such indalment payment- 13. It default be made in payment, when due; of any indebtedness secured hereby, or in performance of any of Mortgagor's obligation, covenant or agreement hereunder: (a) Mortgagee is authorised at any time, without notice, in it 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 b conserve the security and b collect and receive all rent, issues and profit thereof, including those pad due as well as those accruing tbereatter: and (b) Mortgagee shall be entitled, as a matter of drict right, without ratios and esparte, and without regard b the value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property ss security for the Note, to have a receiver appointed b enter upon and take possession of the Mortgaged Praparty. collect the rant and proRt therefrom and apply the same n the court may direct, ac6 receiver b Gave all the right and poNrers permitted under the laws of Florida. In either ach case. Mortgagee or the receiver may also take poression of. and for these purposes use, any and all personal property which is a part of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or any patt thereof. The ezpense (including recaiver's fees, oounel fees. costs and agents eompemstion) incur'r+ed pursuant _ to the powers herein contained shall bs secured hereby. Mortgagee shall (after payment of all cost and espenes incurred) -2- 800[~ PEE ~ is