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account to pay such charges when due shall he paid by Mortgagor to Mortgagee un demand. - If, by reason of any default
by Mortgagor under any provision of this Mortgage, Mortgagee declares all sums secured hereby to be due and payable,
Mortgagee may then apply any funds in said account against the entire indebtedness secured hereby. The enforceability of
the covenants relating to taxes, assessments and insurance premiums herein otherwise provided shall not be attested except
insofar as those obligations have been met by compliance with this paragraph. Mortgagee may from time to time at its
option waive, and after any such waiver reinstate, any or all provisions hereof requiring such deposits, by notice to
Mortgagor in writing. While any such waiver is in effect, Mortgagor shall pay taxes, assessments and insurance premiums
:+a herein elsewhere provided
4. To promptly pay aU taxes and assessments assessed or levied under and by virtue qI any state, federal, or municipal
law or regulation hereafter passed, against Mortgagee ul+on this Mortgage or the debt hereby secured, or upon its interest
under this Mortgage, provided however, that the total amount so paid for any such taxes pursuant to this paragraph togeth-
er with the interest payable on said indebtedness shall not exceed the highest lawful rate of interest in Florida and provided
further that in the event of the passage of any such law or regulation imposing a tax or assessment against Mortgagee up-
on this Mortgage or the debt secured hereby, that the entire indebtedness secured by this MoNgage shall thereupon l+e-
~v,me immediately due and payable at the option of Mortgagee.
5. To keep the Mortgaged Property insured against loss or damage by [ire, and all perils insured against by an ex-
tended coverage endorsement, and such other risks and perils as Mortgagee in its discretion may require. The policy or
{,oliries o[ such insurance shall be in the form in general use from time to time in the locality in which the Mortgaged ~
Property is situated, shall be in such amount as Mortgagee may reasonably require, shall be issued by a company or
companies approved by Mortgagee, and shall contain n standard mortgagee clause with loss 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 he applied by Mortgagee on the indebtedness secured hereby in such
manner as Mortgagee may, in its sole discretion, elect or, at the option of Mortgagee, the entire amount so received or any
part thereof may be released. Neither the application nor the release of any such amounts shall cure or waive any default.
Upon exercise of the power of sole given in this Mortgage or other acquisition of the MoNRaRed Property or any part there-
of by Mortgagee, such policies steal! become the absolute property of Mortgagee.
6. To first obtain the written consent of Mortgagee, such consent to he Rranted or withheld at the sole discretion of
Mortgagee, before (a) removing or demolishing any building now or hereafter erected on the premises, (h) altering the
arrangement, design or structural character thereof, (c) making any repairs which involve the removal of structural parts t
or the exposure of the interior of such building to the elements, Id) cutting or removing or permitting the cutting and re-
moval of any trees or timber on the Mortgaged Property, lei removing or exchanging any tangible personal property which
is part of the Mortgaged Property, or If) entering into or modifying any leases of the Mortgaged Property.
7. To maintain the Mortgaged Property in good condition and repair, including but not limited to the making of such
repairs as Mortgagee may from time to time determine to he neces.4ary for the preservation of the Mortgaged Property and
to not commit or {rermit any waste thereof.
8. To comply with all lawn, ordinances, regulations, covenants, conditions and mstrirtions atfec•ting the Mortgaged
Property, and not to suffer or permit any violation thereof.
9. It Mortgagor fails to pay any claim, lien or encumbrance which is superior to this MoNgage, or when due, any tax
or assessment or insurance premium, or to keep the Mortgaged Property in re{k~ir, or shall commit or permit waste, or if
there be _rommeneed any action or pra•eeding affecting the Mortgaged Properly or the title thereto, or the interest of
Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then
Mortgagee, at its option, may tk-+y said claim, lien, encumbrance, tax, assessment or .premium, with right of subrogation i
thereunder, may make such re{,:+irs and take such steps as it deems advisable to prevent or corn such waste, and may
appear in any such action or proceeding and retain counsel therein, and take such action therein as Mortgagee deems ad-
visable, and for any of such pury,oses Mortgagee may advance such sums of money, including all costs, reasonable attorney's
fees and other items of ex{,ense as it deems necessary. 1liortgagee shall I,e the cote judge of the legality, validity and priority
of any such claim, lien, encumbrance, tax, assessment :+nd premium and of the amount necessary to be paid in satisfaction
thereof. Mortgagee shall not t,e held accountable for any delay in making any such {ziyment, which delay may result in
any additional interest, costs, chargc5, expenses or otherwise.
l0. Mortgagor will pay to Mortgagee, immediately and without demand, all sums of money advanced by MoNgagee
to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's fees and other items of
expense, together with interest on each such advancement at the highest lawful rate of interest per annum in the State of
Florida, and all such sums and interest thereon shall be secured hereby.
11. All sum. of money secured hereby shalt i+e payable without any relief whatever from any valuation or appr.+ise-
ment laws. ~
12. if default t,e made in {,:+yment of any instalment of principal or interest of th+e 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's obligations, coven-
ants or agreements hereunder, all of the indebtedness secured hereby shall become and be immedidtely true and payable at the
option of Aortgagee, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itself
of all rights and remedies, at l:+w or in equity, and this Mortgage may he foreclosed with all rights and remedies afforded by
the laws of Florida and 141ortg:+gor shall pay all costs, charges and expenses thereof, including a reasonable attorney's fee,
including all such costs, ex{,enses and attorney's fees for any retrial, rehearing or appeals. The indebtedness secured hereby
shall hear interest at the highest lawful rate of interest per :+nnum in the State of Florida from and after the date of :+ny
such default of tltortg:+gor. It the Note provides for instalment {,ayments, the Mortgagee may, at its option, collect a late
charge not to eased two cents for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee for
expenses in collecting and servicing such instalment payments.
13. If default F,e made in {,ayment, when due, of any indebtedness secured hereby, or in performance of any of
Mortgagor's obligations, coverr+nts or agreement hereunder:
la) Mortgagee is authorized at any time, without notice, in its sole discretion to enter u{wn and t:+ke l,oasession of
the Mortgaged Property or any part thereof, to {,erform any acts Mortgagee deems necessary or proper to consen•e the
severity and to rnilec-t and receive all rent_g, issues and profits thereof, including those past due as well :?s those accruing
thereafter: and
(h) Mortgagee steal! tie entitled, as a matter of strict right, without notice and exparte, and without regard to the
value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the 1ltorlgaged 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
{,rofits therefrom and apply the same as the court may direct, such receiver to have all the rights and powers permitted ;
under the laws of Florida.
In either such case, Mortgagee or the receiver may also take possession ot, and tot these purposes use, any and all
personal property which is a {,art of the Mortgaged Property and used by Mortgagor in the rental or leasing (hereof or
any part thereof. The expense (including receiver's fees, counsel tees, costs and agent's compensation) incurred pursuant
to the powers herein contained shalt be secured hereby. Mortgagee shall (after payment of all costa and expenses incurred)
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