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HomeMy WebLinkAbout0284 ~ ~ ~ 4. To promptly pay all taxes and assessments assessed or levied under and by virtue of any state. federal, or municipal law or regulation hereafter passed, against Mortgages upon this Mortgage or the debt hereby secured. or upon its•iatercst under this Mortgage, provided however. that the total amount so paid for gay sucA taxes purwant to this paragraph together with the interest paysbb oa said ir?debtedaws shall not exceed the highest lawful rate of interest in Florida and provided further that is the event of the passage of gay each law or re~ulatiaa impostr~g a tax or assessment against Mortgsgee upon this Mortgage of the debt secured hereby, that the entire indebtedness secured by thh Mortgage shall thereupon become immediately due and payable at the option of Mortgagee. S. To keep the Mortgaged Property insured against loss or damage by lira, sad all perils insured against by as extended cavetage ardorss meet, and such other risks and perils as Mortgagee is its discrctioa may require The policy or policies of such insurance shall be k the form is general use from lima to lima is the locality hA whkh the Mortgaged Property is sitwted, shall be is such amount as Mortgagee may rcasonabgr requrro, shall be isuod by a company or companies approved by Mortgagee, and shall contain a standard mortgagee clat~e with bit payable to Mortgagee. Whenever required by Mortgagee, such poUdes, shall be delivered immediately to aM held by Mortgsgee. MY and sU amounta received by Mortgagee uadec any of such policies may be applied by Mortgagee on the indebtedneu secured hereby N:ueh meaner as Mortgagee may, is its sole discretion, elect or, at the option o[ Mortgagee, the entire amount so received or any put thereof may be released. Neither the appUatioa nor the release of gay wch amounts shall cure of waive gay default. Upon exercise of the power of sale given in this Mortgage or other aoquisitioa of the Mortgaged Property or any part thereof by Mortgagee, such policies shall become the absolute property of Mortgagee _ 6. To tint obtain the written consent of Mortgagee, such consent to be granted or withheld at the sole discretion of Mortgagee, before (a) removing or demolishing gay building now or hereafter erected on the premises, (b) altering the arrangement, design or structural character thereof. (c) making any repairt which invohro the removal of structural parts or the expowro of the interior of welt buiklirts to the elements, (d) cutting or removing or permitting the cutting and removal of any tress or timber on the Mortgaged Property, (e) removing or exchaagirtg any taagibb personal property which is put of the Mortgaged Property, entering into or modifying any leases of the Mortgaged Property or (g) join in or consent to say change in zoning 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 be necessary for the presemtion o[ the Mortgaged Property and to not commit or permit any waste thereof; and Mortgagee shall have the right to inspect the Mortgaged Property on rcasoaabk notice to Mortgagor. 8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Mortgaged Property, and rat to post or permit gay violation Wereot. 9. If Mortgagor fails to pay any claim, lien or encumbrance which is superior to this Mortgage, or when due. any tax or assessment or insurance premium, or to keep the Mortgaged Property in repair. or shall commit or permit waste. or if Were be commenced.any action or pro- ceeding atfscting the Mortgaged Property or ibe title thereto, or the intemst of Mortgagee therein, inchding, but not limited to, eminent domain and bankruptcy or reorgauization proceedings, Wea Mortgagee, ac its option, may pay said claim. lien, encumbrance, tax, anesmeat of premium, with right of subrogation thereunder, may make such repairs gad take such steps as it deems advitsbk to prevent or cure welt waste. and may appeu in any such action or proceeding and retain counsel therein, and take such action Wereia as Mortgagee deems adviubk, gad [or any of such purposes Mortgage may advance such sums of money, including all costs, teasonabk attorney's foes and other items of expense as it dams noo- essary. Mortgagee stall be the sole judge of the legality, validity and priority of gay such claim, liar, encumbrance, tax assessment and premium and of the amount necessary to be paid in utisfactioa Wereof. Mortgagee shall not be IteW acoountabk for any delay in making any wch payment, which delay may rault in any additional interest, costs. chuges, expenses or otherwise. 10. 'Mortgagor will pay to Mortgages, 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 fees and other items of expense, together with interest on each such advancement at the highest lawful rate of iriterat per annum allowed by the law of We State of Florida, and all such sums and interest thereon shall be secured hereby. i 1. AU sums of money secured hereby shall be payable without any relief whatever from any valuation or appraisemcnt Iaws. _ 12. If default be made is payment of any instalment of principal or interat of the Note or gay put thereof whey due, of in payment, ~ when due, or uty other sum secured hereby, or in performance of any of Mortgagor s ob4gations, coreaant: or agroemeats hereunder, all of the udebtednes secured hereby shall become and be iaunediately due and payable at the option of Mortgagee, without notice or demand which are hereby expressly waived. in which event Mortgagee may wail itself of all rights and remedies, at larv or io equity, and this Mortgage maybe fors closed wiW all rights and remedies a[torded by the laws of Fbrida and Mortgagor shall pay all costs, charges and expenses thereof, including a ~ reuonabk attorney's fa, including all such costs, expenses gad attomey's fees for any retrial. rehearing or appeals. The indebtedness secured hereby shall beu interat at the highest lawful rate of interat per annum allowed by the law of the State of Fbrida from and after the date of any wch default of Mortgagor. if the Note provides for instalment payments, the Mortgagee-may, at its~option, collect a latachatge as may be pro- ~ vided for in the Note, to reimburse the Mortgagee for. expenses in collecting and servicing such imWrpeat Qayments _ y . 13. If default be made in payment, when due, of any inde~tedaess secured hereby, or in perfomsanoe of any of Mortgagor's obligations, covenants or agreement hercunder_ ~ - (a) Mortgagee is authorized at any time wiW notice, in ib sole discretion to enter upon and take posseuion of We Mortgaged Property or any put thereof. to perform any acts Mortgagee dams necessary or proper to concern the security and to collect and receive aH tents, laves and profits thereof, including those past due as well as those axtuing thereafter, and (b) Mortgages shall be entitled, as a matter of strict right, wiWout ratite and exparte, and wiWout regard to the value or occupancy of the security, or We solreocy of Mortgagor, or the adequacy of the Mortgaged Property as security for the Note, to have s receiver appointed to enter upon and take possession of the Mortgaged Property, collect the rents and profits Wercfrom anti apply the same as the court may direct, wch receiver to have all the rights and powers permitted under the laws of Florida. . In either such case, Mortgagee or We receiver may also take passessiat 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 of leering thereof or any part thereof. The expense (including receiver's ~ foes, counsel fees, costs and agent's compensation) incurred punwnt to the powers herein contained shall be secured hereby. Mortgagee shall (after payment of all costs and expenses incurred) apply wch rents, issues gad profits received by it on the indebtedness secured hereby is web order as Mortgages determines. The right to enter and take possession of the Mortgaged Property, to maaiage gad operate ilse same, and to collect the rents, issues and profits thereof, whether by a receiver or otherwise, shall be cumulative to any other right or remedy hereunder or afforded by law, and may be exercised concurnntly therewiW or independently thereof Mortgagee shall be liabk~to account only [or such teats, laves and profits actually received by Mortgagee. 14. If the indebtedness sawed hereby is now or hereafter further secured by chattel mortgages, security interests, funastinng statements, pledges. conttscts of guaranty. assignments o[ leases, or other securities, or if the Mortgaged Property hereby encumbered consists of more than one puce) o[ real Property, Mortgagee may at its option exhaust gay one or more of said securities gad security hereunder, or wch parceb of the security hereunder, either conwrrwtly or independently, and in wch order >s it may determine. 1S. This Mortgage shall secure not only existing indebtedness, but also wch future advances, whether such adrarsces ate obligatory or to be made at the option of Mortgagee, or otherwise, as are made within twenty (20) yeah from the date hereof, to the same extent ss if such future adranoea were made oa the date of the execution o[ thh Mortgage, but wch secured indebtedaeaa shall not exceed at any time the maxLnum X341 P~ ~4 k I - -2-~ _