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HomeMy WebLinkAbout1119 3. (a) To proppeerrly care for and keep the premises in good condition and repair; (b) not to remove or demolish any building or improve- ments thereon w•tthout the written consent of Mortgagee; (c) to complete in a good and workmanlike manner any building which may be constructed thereon and to pay when due all claims for labor performed and materials famished therefor; (d) to comply with all Iswa, ordinances, regulations, Qovenanta, conditions sad reattictiona affectin the premises, t?nd not to suffer or permit any rt lation thereof; (e) to apow Diortgigee to:inapect the Qremises at.any reasonable time;[) not to commit or permit any waste or deteri~:rati~ n of the pre- miscs; (g) and to do any a<;t or bc4i, .il w a tiwety and pr~,~ar u~w~uer, rrlucL Iwu~ tt?e rtaraeter ur use at the premises, cosy be rd~onablY necessary to protect and preserve said preatlsea, the specific enumerations rein not limiting the general. '4. To pay when due. and irithout requuing any notice from bortgagee. all taxe0. as~egsmenta of any type or nature. and other~charges levied or assessed against the premises hereby encumbered and produce receipW there[or upon detband. if tax deposits are reyuir~,l by 11lortgagea in accordance with Mortgagor s Covenant \o: 6, A ortgagor's primary IinbiGty for fazes as herein stipulated shall remain in full force and effect as herrio provided, altMwgh the provisions of said last mentu~ned covenant shall govern as W deposits sad pay- weats therefrom by Mortgsge~ - _ - - - - - - - - - - • • - - ~ - . - - • • - - - • ' S. To keep the building and improvements now standin or hereafter erected upon the murtgeged premises and an~1 and all ajip~tttitus, - 6rhurs and appurte:~snres now or hctcaftcr in or attach to said buildings or improvements insured against 1~ nr damage by fire and such other hasards as 1ortgagee may from time to time require, all such insurance to be in forms, in companies and in sums (not less than sufficient to avoid anyy claim on the part of the insurers for eo-insurance) sstisfsetory to \iortgagee; that all inuurance p ~licies shall be held by and shall be tot the benefit of and first payable in case of lass to \Iortgagee, and that at least fifteen da~•s before the expiration of each such policy, a new and sufficient psGcy to take the place of the one so expiring shall be delivered to \lortgagee. Af ~rtgagor hereby assigns to \lortgagee all moneys rea~verable under each such p~Gcy, and agrees that in the event of a loss the amount collected under any policy ofinsurance on acid property may, at the option o[ the Mortgagee, be applied by \lortgegee upon any indebted- ness and/or obligation secured hereby and in such order sa Mortgagee may determine; or said amount or any Portion thcrec~f m.4y, at the option of \lortgagee, either be used in replacing, repairing or restoring the improvements partially or totalh Destroyed to a condition satistsetory to Mortgagee, or be released to Mortgagor, in either or which events the \lortgagee shall not tic obligatcil to see to the pm}ier application thereof; nor shall the amount so released or used by deemed a payment on any indebtedness secured hereby. It is turttier agreed that upon foreclosure sale the title to all insurance held by or for :liortgagee shall paw to the foreclosure purchaser, and \lortgagce is empowered in the name of :tortgagor to execute any instrument which may be nece~ary to vest the title to such iisurance iii such foreclosure purchaser. 6. It rrryuired by :liortgagee, Mortgagor shall also make monthly deposits with Mortgagee, in anon-interest bearing account. together with and in addition to interest and principal installments, of an amount equal to the taxes, assessments and Rovenimental charges which may be levied or assessed against the premises, and insurance premiums next due, less amount already deposited therefor, divided by the number of months to elapse prior to the date when such taxes, assessments, governmental charges and insurance premiums will become due and payable. 7'he amount of such lases, assessments, governmental charges and insurance premiums, when unknown, may be estimated by Mortgagee. Such deposits shall be used by Iliortgagee to pay such taxes, assessments, go~~emmental charges and insurance premiums when due Any iagiifticiency o[ such account to pay such charges when due shall be paid by RlnrLa!or to 111artgaRee on demand. If there is any default by \iortgagor under any provisions of this mortgage and Mortgagee declares all sums secured hereby to be due and psyable.:1lortgaeee may then apply any funds in said account against the indebtedness secured hereby in such manner as 1lortgs,ee cosy elect. '['he colon-eability of the covenants relating to taxes, assessments, governmental charges and insurance coverage herein otherwise provided shall not be affected except insofar as thane obligations have been met by compliance with this paragraph. Mortgagee cosy from tiros to time st its option waive, and after any such waiver, reinstate, any or all pro~~sioni hereof regwnnq such t deposits by notice to blurtgagrx in writing, «hile any such waiver is in effect blurtgaqur alwli pay taxes, ssse;sments, governmental charges and insurance premiums as herein elsewhere provided. 7. To pay all charges or debts and interest thereon which constitute charges or liens of equal rank with or have any preference or priority over the lien of this mortgage; all costs, fees and expenses, including cost of evidence of title, court casts, reasonable attorney's fees (not exceeding amount permitted by law) incurred by Mortgagee in enforcing the provisions of this mortgage, or in defending or mterveninq in any action affecting or purporting to affect any of the property covered by this mortgage, or the priority or validity of this mortgage, whether brought by or against Mortgagor or 1lfortgagee. 8. To promptly pay all tapes and assessments assessed or levied under and by virtue of any state, federal or municipal law or requ- aation hereafter passrld against Mortgagee upon this mortgage or the debt hereby secured, or upon its interest under this mortgage, provided however, that such payment is not unlawful. In the event o[ the passage of any such law or regulation providing for any tar, ~ assessment or charge which could not lawfully be paid by Mortgagor, the entire indebtedness secured by this mortgage shall thereupon i become immediately due and payable at the option of iviortgagee. ' 9. To repay-immediately, without demand, all sums of money advanced or expended by Mortgagee pursuant to this mortgage, with interest thereon from the date of advancement until repaid st the rate of per cent per annum, sU of which sums shall Z be secured hereby and shall be payable forthwith. 'Z1Ztet3la 10. Should Mortgagor fail or refuse to make any payment or do any act which biort~agor is obligated hereunder to make or do, at the time and in the manner herein provided, then Mortgagee may, witlwut necessity of notice or demand upon 1lfortgagor, and without releasi 1?iortgagor from any obligation hereunder- (s) make or do the name in such manner and to such extent as Mortgagee may deem i advisa`~ and advance such sums of money for that purpose as by Mortgagee may be deemed necessary; (b) pay, purchase, contest or coinPromise any claim, debt, lien, charge or incumbrance which adversely affect the premises covered by this mortgage or the ben or validity of flue mortgage. 11. An~+ breach or default by :liortgs~or under the provisions oI say Assignment of Lease, or Leases, of the premises given as addi- tional secuntyfor the payment of the indebtedness secured hereby, or any [allure of Mortgagor to fully protect, i:~sure, Preserve and cause 1 continued performance and fulfillment of the terms, convenanta or provisions is said lease(s) regwred to be performed or fulfilled by the . Lessee, shall constitute s default hereunder and at the option of Mortgagee all unpaid principal.and accrued interest on the note secured ; by this mortgage shall, notwithstanding anything in the note or in this mortgage to the contrary, become immediately due and payable. ; 12: If de[sult be made in the paymenb of any installment of principal or intergt of said not4 or any part thi;reAf when due, or in I~Yment, when due, of any other sum secured hereby, o~ in performance of any of Mortgagor'aobligatioos, covenants or agreements here- under, al of the indebtedness secured hereby shall become and be iminediatety due and payable at the option of Mortgagee, without , notice or demand which: sic hereby ezpresaly waived. in whielr event Mortgagee raa avail itself bt all n~t?ts and remedies. atrlaw or m equity, and this mart®age maybe [oreelueed with all rights and remedies offorded ~y the •lawa of 1•lorida and'yiortgagor shall pay a.l costa. charges and expei)aes thereof, including a Seasonable attorney's fee. - 13. In the event Mort~or shall, witho~~t.-Mortgagee's written coiiaent. sell, convey or alienate the,mortgsp~ed Rremises; or any R part thereof, or any interest-therein, or if the title thereto shall hecome vested in any other party than Mortgagor m any~manner what- scever, the note and obligations secured by this mortgage, irrespective of the maturity dates expressed therein, at the option of Mortgagee, & and without demand or• notice, shall immediately become due and payable. f ' 14. In the event any party fisblo for the psymcat of the indebtedness secured hereby, or any.part thereof, files a voluntrry lwtition in bankruptcy, makes an saeigriment for the benefit of and creditor, or is declared bankrupt or insolvent, or if a creditor's or debtor e petition affecting said property, filed pursuant to the provisions of the Bankruptcy Act, as amended, is approved, or if the premises, or ~ any part thereof are placed under the control or in the custody of any cour>n or it Mortgagee shall bemade a party to or shall intervene , in any action or proceeding affecting the premises or the title thereto or the interest of :1lortgsgee under this mortgage, then, in either or any of said events, bfortgagce may, st its option, have the same rights and remedies as if default were made in the payment of the note secured hereby, or any installment of principal or interest thereon, and shall have the further right, at its option, to appear in and defend and protecC rte right and interest under any such action or proceeding, and Aortgagor agrees to y, upon demand, all costa and expenses, including reasonable attorney's fees, w hich may be ad .•anced or incurred by \lortgagee, and all such amount8 shall be a lien on the said premises and secured by this mortgage. i -15. I>f t1M8vent the'premisea, or any part thereof, are. fatten under the power of eminent domain, the entire award, both lea9ehold ~ and reversion, but ezceptaaq that for business lasses to tenants or lessees, shall be paid to Mortgagee, and Mortgagee is hereby empowered in the name of Mortgagor to receive and give ac uittance for say award or judgment rendered incident thereto, whether joint or several. :lfortgsge~e may apply all such sums or any part thereof so received, after the Pay merit of all of its expenses, including costs and attorney's fees, on the indebtedness secured hereby in such IIia~1r?e; as.it elec4,;ar~at tyv option, the entire amount or any part thereof ao received 3 ~ may be released. _ - , ~ ~ Ili. In the event :1ortgagor hereafter executes any lease, or lessee, of all or any portion of the mortgaged premiser, Mortgagor, upon 4 demand by Mortgagee, sill execute and deliver to Mortgagee assignments of such lease or leases as additional collateral security for the I payment of the indebttidiieea secured by this mortgage. ~ ,