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account to`pay such charges when due shall be paid by Mortgagor to Mortgagee on demand. It, by reason of any default
l+y Mortgagor under any provision of this Mortgage, Mortgagee declares all-sumo secured hereby to be due and payable,
Mortgagee au+y 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 affected except
insofar as lbws 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, aaesanents and insurance premiums
as herein elsewhere provided.
4. To promptly pay aU taxes and assessments assessed 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 its interest
under this Mortgage, provided however, that the total amount so paid for any such la:es pursuant to this paragraph togeth•
er with the interest payable on said indebtedness shag 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 aeseasment against Mortgagee up•
on this Mortgage or the debt secured hereby, that the entire indebtedness secured by this Mortgage shall thereupon be• r
come immediately due and payable at the option of Mortgagee.
S. To keep the Mortgaged Property insured against law or damage by Cre, 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 t
{solicies of such insurance shall be in the tgrm 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 4
companies 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 amounts
received by Mortgagee under any of such policies 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 or any
part thereof may be released. Neither the application nor the release of any such amounts shall cure or waive any default. l
Upon exercise 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 first obtain the written consent of Mortgagee, such consent 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, Ib) altering the 1
arrangement, design or structural character thereof, (c) making any repairs which involve the removal of structural parts
or the exposure ot_ 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 exchanging any tangible personal property which t
is x+rt of the Mort pe y, y' g y i
{ gaged Pro ri or (f) entering into or modif sn an leases of the Mortgaged Property. ;
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7. To maintain the Mortgaged Property in goad condition and repair, including but not limited to the making 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.
8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the 1Norigaged t
Pro{,arty, and not to sutler or permit any violation thereof. `
9. If Mortgagor fails to {>r+y any claim, lien or enruml+rance which is su{+erior to this Mortgage, or when due, :+ny tax
or assessment or insurance premium, or to keep the Mortgaged Property in repair, or shall commit or permit w:sste, or if
them be commenced any action or proceeding affecting the Mortgaged Property 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 pay said claim, lien, encumbrance, tax, 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 action or proceeding and retain rnurssel therein, and take auc6 action therein as Mortgagee deems ad-
visable, and for any of such purposes )Vlorigagee may advance such sums of money, including all costs, 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, tux, asaesan+ent and premium and of the amount necessary to be paid in satisfaction
thereof. Mortgagee shall not be held accountable for any delay in making any such {rsyment, which delay rr+:sy result in f
~ any additional interest, costs, charges, expenses or otherwise. f
~ 10. Mortgagor will {+:+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 lees and other items of
expense, together with interest on each such advancement at the highest lawful rate of interest per annum in the Stale of
Florida, and all such sums and interest thereon shall be secured hereby. ~ x
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~ 11. All sums of money secured hereby shall be {s:+yable without any relief whatever from any valuation or sq+praise-
ment laws. }
12. It default he made in {sayment of :+ny instalment of {+rincit+al or interest of the Note or any part thereof when
due, or in payment, when due, or any other sum secured herelfy; er'i11 ~ie?aflEe:~`•~ly{~li~tgagor
a obligations, coven-
:+nts or agreements hereunder, all of the indebtedness secured hereby shall t~nediately due and payable at the
option of Mortgagee, without notice or demand which are hereby espr~ly;~i~
d~ irs, ~te ant ~q~`age~ may avail itself
of all rights and remedies, at law or in equity, and this Moitgage may bl< forecle~ld v~D a~hb~>Yfll! remedies afforded by i
the laws of Florida and Mortgagor shall pay all costa, chargea'aiiA eit~kYssli~ tlieietl~;dillK ale attorney's fee,
including all such costa, expenses and attorney's tees for any retrial, rehearing or appe~t~,1~ j~p~btss 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. If the Note provides (or instalment payments, the Mortgagee may, at its option, collect a late
charge not to ezceed two cents for each one dollar not p:+id to the Mortgagee -when due, to reimburse the Mortgagee for
expenses in collecting and servicing such instalment payments.
13. If default he made in payment, when due, of any indebtedness secured hereby, or in performance of any of
Mortgagor's obligations, covenants or agreement hereunder:
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(a) Mortgagee is authorized at any time, without notice, in its sole discretion to enter upon and t:+ke {wssession of !
the Mortgaged Property or any part thereof, to perform any arts Mortgagee deems necessary or proper to rnnsene the
security and to collect and receive all rents, issues and profits thereof, including those past due as well ua those accruing
thereafter: and
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Ib) Mortgagee shall be entitled, as a matter of strict right; without notice and e:parte, 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 1
profits 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. )
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In either such case, Mortgagee or the receiver may also take possession 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 i
any pert t~reof. The expense (including receivers tees, counsel tees, costs and agent's compensation) incurred pursuant' {
fo the pov?ers herein rnntained shall be secured hereby. Mortgagee shall (after payment of all cosh and a:parses incurred) !
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