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arcuunt to tx?y such eharg+~ when due shall tae tx+id by 1+lorigagor to Mortgagee on demand. !t, by tteasun of any defauh •
by I?lortgagor under uny provision of this 111urtguge, Mortgage declares all sums secured hereby to tie due and }x+yuhle,
Mortgagee may then apply any funds in st?id account against the entire indebtedness secured hereby, The enforceability of
the coven:tnta relating to taxes, assessments and insurance premiums herein otherwise provided shall not be affected except
insofar :?s those obligations have been met by compliance with this }?aragraph. Mortgagee may from time to time at its
option waive, and utter any such waiver retreat{?te, any or all provisions hereof requiring such deposits, by notice to
Mortgagor in writing. While uny such waiver is in effect, Mortgagor shall pay t:?xes, ussessrnents and insurance premiums
as herein elsewhere provided. '
4. To promptly pay nll taxes and assessments assessed or levied under and by virtue ~f uny state, fedend, or munici{xd
law or regulation hereafter W?ssed, against Mortgagee u{?on this Mortgage or the debt hereby secured, or u{wn its interest
under this Mortgage, provided however, that the total amount so {?aid for any such taxes pursuant to this {wr.?Kruph togeth-
er with the interest payable on said indebtedness shall not erred the highest lawful rnte of interest in Florida and provided
further tha/. in the event of the passage of any such law or mgulation imposing a tax or assessment against Mortgagee up-
on this Mortgage or the debt secured hereby, that the entire indebtedness secured by this Mortgage shall thereu{?on he-
~•ome immedi:+lely due and payable ut the option of Mortgagee.
5. To keep the Mortgaged Property insured against loss or damage by fire, and all perils insured against by an ex-
tended coverage endorsement, and such alher risks and perils as Mortgagee in its discretion may require. The policy or
twlicies of such insurance shall be in the form in general use from time to time in the !«•ality in which the Mortgaged
Pro{>eriy is situated, shall be in such amount as Mortgagee may reasonably require, shall be issued by a com{x?ny or
com{k~nies at~proved by Mortgagee, and shall contain a standard mortgagee clause with loss t?ayable to hlorigagec. When-
ever required by Morigsgee, such twlicies, shall be delivered immediately to and held by Mortgagee. Any and all amounts
received by Mortgagee under any of such policies may 6e applied by Mortgagee on the indebtedness secured hereby in such
manner as Mortgagee may, in its sole discretion, elect or, al the option of Mortgagee, the entire amount se received or any
part thereof may he released. Neither the application nor the release of any such amounts shall cure or waive any default.
Ut?on exen•ise of the power of s:+le given in this Mortgage or other acquisition of the Mortgaged Property or any part there-
of by Mortgagee, such tolicies shall become the absolute property of Mortgagee.
6. To first obtain the written consent of Mortgagee, such c•onsc•nt to he granted or withheld at the sale disc•mtiun of
ltortgugee, before (a) removing or demolishing :any building now or hereafter erec•tcd on the premises, Ib) altering the
:rrrangement, design or structural character thereof, (c) making any repairs which involve the removal of structural txcrts
or the exposure of the in~of such building to the elements, Id) cutting or removing or {?ermitting the cutting and're-
moval of any trees or timber on the Mortgaged Proterty, (e? removing or exchanging any tangible personal property which
is taut of the Mortgaged Pro{?erty, or ff1 entering into or modifying any leases of the Mortgaged Pm{mriy.
To maintain the Mortgaged Pro{?erty in good condition and re{?air, including but not limited to the making of such
re{x+irs as Mortgagee may from time to time determine to he necessary for the preservation of the Mortgaged Property and
to not commit or hermit any waste thereof.
K- To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Mortgaged
Yrot?erty, and not to suffer or permit any violation thereof.
9- If Mortgagor fails to p:ry any claim, lien or enc•umi~r.?ncr which is sut?eriat to this .Mortgage, or when due, :my tax
ur assessment or insurance premium, or to keep the 114ortgaged Pro{?erty in re{r:?ir, or shall commit or tx•rmit waste, or if
there be commenced any action or pr«•eeding affecting the Mortgaged Property or the title thereto, or the interest of
Mortgagee therein- inchrding, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then
Mortgagee, at its option, may p:+y said claim, .lien, encumbrance, tax, assessment or premium, with right of subrogation
!hereunder, may make such retx?irs and take such steps as it deems advis:?hle to prevent or cure such waste, and m:+y
apt?ear in any such action or proceeding and retain counsel therein, and take such action therein as Mortgagee deems ad-
~isahle, and for any of such purposes 1Vtortgagee may advance such sums of money, including all costs, reasonable attorney's ,
fees and other items of ext?ense as it deems nemss:+ry. Mortgagee shall he the sole judge of the legality, validity and priority
of any such claim, lien, encumbr+nce, tax, assessment and premium and of the amount necessary to he paid in satisfaction
thereof. Mortgagee shall not Ix held accountable for any delay in making any such payment, which delay may result in
any additional interest, casts, charges, extenses or ~therwise-
10. Mortgagor will {h+y to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee
to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's tees and other items of ;
expense, together with interest on each such advancement at the highest lawful rate of interest t+er annum in the State of ,
Florida, and all such sums and interest thereon shall he secured hereby-
11- All sums of money secured here•hy shall Ix• payahte without any relict whatever from any valuation or :q?prcise-
ment laws-
12. If default f?e made in txcyment of any instalment of t~rine•ipal or interest of the Note or any part thereof when
due, or in payment, when due, or any other sum secured hereby, or in {+erformance of any of Mortgagor's obligations, coven-
ants or agreements hereunder, all of the indebtedness secured hereby shall became and be immediately due and tx+yable at the
option of Mortgagee, without notice ar demand which are hereby expressly waived, in which event Mortgagee may avail itself
of all rights and remedies, at law, or in equity, and this Mortgage may he foreclosed with all rights and remedies afforded by
the laws of Florida and Mortgagor shall pay. all costs, charges and extenses thereof, including a reasonable attorney's fee, ,
including all such casts, extenses and attorney's fees for any retrial, rehearing ar appeals- The indebtedness secured hereby
shall hear interest at the highest lawful rate of interest per annum in the State oI Florida from and after the date of any
such default of Mortgagor. If the Note provides for instalmen! p:?yments, the Mortgagee may. at its option, collect a late
charge not to exceed two cents for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee for
ext?en_4es in collecting and servicing such instalment payments. •
13. If default he made in tx+yment, when due, of any indebtedness secured hereby, or in performance of any of
Mortgagor's obligations, covenants or agreement hereunder:
la) Mortgagee is authorzed at :?ny time, without notice, in its sole discretion to enter upon and t:?ke pos-session of
the Mortgaged Property or any part thereof, to {?erform any acts Mortgagee deems necessary or proper to conserve the
security and to collect and re<•eive all rents, issues and profits thereat, including those past due as well as those acrruinq
thereafter: and
Ih) Mortgagee shall he entitled, as a matter of strict right, without notice and exparte, and without regard to the
value or occupancy of the security, ar the solvency of Mortgagor, or the adequacy of the Mortgaged Property as security for
the Note, to have a receiver appointed to enter upon and take possession of the Mortgaged Property, collect the rents and
profits therefrom and apply the same as the court may direct, such receiver to have al! the rights and powers permitted
under the laws of Florida.
In either such case, Mortgagee or the receiver may also take tossession of, and for these purposes use, any and all
personal proterty which is a hart of the Mortgaged Prot?eriy and used by Mortgagor in the rental or leasing thereof or
any part thereof. The expense (including receivers tees, counsel fees, costs and agent's compensation) incurred pursuant
to the powers herein contained shall be secured hereby. Mortgagee shall fatter payment of all coats and expenses incurred)
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