Loading...
HomeMy WebLinkAbout2182 . ~ • - _ . _ -s~ . - _ - - - _ - . ti i) s ~ 1. ! ~ ~ account to pay such charges when dw shall bs paid by Mortgagor to Mortgages on dsawnd. lt, by reason of any default j by Mortgagor under any provision of this Mortgage, Mortgages declares all sums sscttrsd hsreby_ to be due and payable, Mortgagee may then apply any funds in ssid account against tbs entire indebtedness secttred•hereby. The enforceability of t. tbs covextaab relating to lases, assessmsrtts and insue+sncs premiums herein otherwise providd sltaU not be affected except ~ insofar as those obligations have been met by ooatpliaaos with thin paragraph. Mortgagee may troan time to time at ib option waive. and after any such waiver reinstate, any or aU provisions hereof requiring such deposits, by notice to , Mortgagor in writing. Whiie any such waiver is in effect, Mortgagor shall pay ts:ee, asassements and insurance Premiums as herein elsswhesr provided. •.To prompttj? pay all tales and assessmenb aressed•or levied under and by virtue of any state, federal. or municipal law or regulation bereatter passed, against Mortgagee upon this Mortgage or the debt hereby secured, or upon ib interest unc)er this Mortgage, Provided however. that the total amount so paid for any such lases ptrsuant to this paragraph togeth• er with the interact payable on said indebtedness shall not ezoead the highest Iaw[ul rate of interest in Florida and provided further that is the event of tbs passage of aw? each 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 Mortgage shall thereupon be- rnme immediately due and payable at tbs option of Mortgagee. . ~ } ~ ~ F b. To keep the Mortgaged Properly insured against lass or damage by fire, and all perils insured against by an ex- tended coverage endorsement. and such other risks and perils as Mortgagee in ib discretion may require. The poL'cy or policies of such iawranos shall bs is the form in genera! 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 jawed by a company or rnmpaaies approved by Mortgagee, and shall contain a .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 amounb received by Mortgagee under any of such policice may be 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 os any par! thereof may be released. Neither the application nor the release of any each amounts shall cure or waive any default. Upon a:excise of the power of sale given in this Mortgage or other acquisition of the Mortgaged Property or any part there- of by Mortgagee, such policies shall become the absolute property of Mortgagee. 6. To ttrst obtain the written consent of Mortgagee, such rnnsent to be granted or withheld at the sole discretion of Mortgagee, before (a) removing or demolishing any building now or hereafter erected on the premises. (b) altering the j arrangement, design or structural character thereof, (c) making any repairs which involve the removal of structural Parts or the expowre o[ the interior of such building to the elements, (d) cutting or removing or permitting the cutting and re- moval of any trees or timber on the Mortgaged Property, (e) removing or a:changing anY tangible personal Property which is part of the Mortgaged Property. or (f) 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 W the malting 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. S. To comply wiW all laws, ordinances, regulations, rnvenants, rnnditions and restrictions af[ecting 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 aasessrnent or i~uraace premium, or to keep the Mortgaged Property in repair, or shall commit or permit waste, or it _ there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto, or the interest o[ Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then Mortgagee, at its _optioq may pay said claim, lien, encumbrance, taz, assessment ~ or premium, with right of subrogation thereunder, may make such repairs and take such steps as it deems advisable to prevent or cure such waste, and may appear in any such aMion or proceeding and retain counsel therein, and take such action therein as Mortgagee deems ad- visable, and for any of such purposes Mortgagee may advance such sums of money, including all casts, reasonable attorney's fees and other items of expense as it deems necessary. Mortgagee shall be the sole judge of the legality, validity and priority of any such claim, lien, encumbrance, tax, assessment and premium and of the amount necessary to be paid in satisfaction thereof. Mortgagee shall not be held accountable [or any delay in making any such payment, which delay may result in any additional interest, costs, charges, ezpenses or otherwise. t 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 ail costa, reasonable attorney's fees and other items of i i 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. E 11. All sums of money secured hereby shall be payable without any relief whatever from any valuation or appraise- ~ ment laws. ~ 12 If 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 sum secured hereby, or in per[orasance of any of Mortgagor a obligations, rnven- anta or agreements 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 are hereby ezpresely waived, in which event Mortgagee may avail itself i of all rights and remedies, at law or in equity, and this Mortgage may be foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costa, charges and expenses thereof, including a reasonable attorney a fee, including all such costs, expenses 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 Florida from and after the date of any such default of Mortgagor. It the Note provides for instalment payments, 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 ezpensea in collecting and servicing ouch instalment payments- 13. If de[ault be made in payment, when due, of any indebtednem secured hereby, or in performance of any of Mortgagor a. obligations, covenants 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 necrosary or proper to conserve the security and to collect and receive all rents, issues and profits tbereof, includin6 those past due sa well as those accruing thereafter; and . (b) Mortgagee shall be entitled, as a matter of strict right, without notice and e:patte, and without regard to the _ value or occupancy of the security, or 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 rosy direct, such receiver to have all the rights and powers permitted under the laws of Florida.. _ i In either wc6 case, Mortgagee or the receiver may also take possession of, and [or 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 part thereof. The espense (including receivefs tees, counsel tees, cosh and agent's compensation) incurred pursuant , to the powers herein rnntained shall be secured hereby. Mortgagee shall (attar payment of all coats and a:penses incurred) s - -2-