Loading...
HomeMy WebLinkAbout0092 To promptly pay all taxes and assaessments assessed or levied under and by virtue of any slate, federal, or municipal law or regulation hereafter passed, against Morlgsgee upon this Mortgage or the debt hereby secured, of upon its interest under this Mortgage, provided however, that the total amount so paid for any such taxes purwant to this paragraph together with the interest payabk on said indebtedness shall not e.`~~ the highest lawful rate of interest in Florida and provided further that in the event of the passage of any such law of regulation im a tax or assessment against Mortgsgee upon this Mortgage or the debt secured heroby, that the entire indebtedness secured by thk Mortgage thereupon bernme immedutely due and payabk at the option ai Mortgagee. 5. To keep the Mortgaged Property insured against loss or damage by fire, and all perils insured against by an extended coverage endorso- ment, and such other vales and perik as Mortgagee in its discretion may requires The policy or policies of such instuanoe shall be in the form in general use from time to time in the locality in which the Mortgsged Property is sitwted, shall be in such amount as Mortgagee may reasonably require, shall be issued by a comgny or companies approved by Mortgagee, and shaD contain a standard mortgagee clause with ba payabk to Mortgagce. Whenever 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 ss Mortgagee may, in its sole discretion, elect or, at the option of Mortgagee, the entire amount so received or any put thereof may be released. Neither We appliation nor the release of any such amounts shall cure or waive any default. Upon exerase of the power of sale given in this Mortgage or other soquisition of the Mortgaged Property or any part thereof by Mortgagee, such policies shall become the absolute property of Mortgagee. 6. To f rst obtain the written consent of Mortgagee, such consent to be granted or withheld at the sole discretion o[ Mortgagee, before (a) removing or demolishing any building now or hereafter erected on the premiss, (b) altering Ure arrangement, design or structural character thereof, (c) making any rcgirs which involve the removal of structural puts or the expowre of the interior of web building to the elements, (d) cutting or removing or permitting the cutting and removal of any trees or timber on the Mortgaged Property, (e) removing or exchanging any tarrgibk personal property which is put of the Mortgaged Property, (n entering into or modifying any leases of the Mortgsged Property of (g1 join in or consent to any 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 firm to time determine to be necessary for the presemtion of the Mortgaged Property and to not commit or permit any Waste thereof; and Mortgagee shall have the right to inspect the Mortgaged Property on reasonable notice to Mortgagor. 8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Mortgaged Property, and not to cause or permit gay viohtion thereof. 9. IC 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, of if there be commenced any action or pro- seeding 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 qy said claim. lien, encumbrance, tax, assessment or premium, with right of subrogation thereunder, may make such repairs gad take such steps as it deems advisable to prevent or cure such waste, and may appeu in any such action or proceeding and retain counsel therein, and take such action therein as Mortgagee dcerrss advisable, gad for any of such purposes Mortgagee may advance such sums of money, including all costs, reasonable attorney's fees and other items of expense as it deems neo- essary. Mortgagee shall be the sole judge of the legality, validity and priority of any such claim, lien,_encumbrurce, tax assessment and premium and of the amount necessary to be paid in satisfaction thereof. Mortgagce shall not be held accountable for gay delay in making gay wch gyment, which delay may result in any additional interest, costs, chuges, expenses or otherwise. !0. Mortgagor will qy to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee to protect the security hereof purswnt to this Mortgage, including all rnsts, reasonable attorney's fees and Wither items of expense, together with interest on eacl? such adsancement at the highest lawful rate of interest per annum allowed by the law of the State of Florida, and aD such sums and interest Wereon shall be secured hereby. 11. -AU sums of money secured hereby shall be gyabk without any relief whatever from any valwtion or appraisement laws. 1 12. If default be made in payment of any irrstslment of principal or interest of the Note or any part thereof when due, or in gyment, when due, or any other sum secured hereby, or in performance of any of Mortgagor s obligations, oorenar?ts or agcements hereunder, all of the indebtedness secured hereby shall become and be immediately due and gyabk at the option of Mortgagee, without notice or demand which are _ hereby expressly waived, in which event Mortgagee may avail itself of all rights and remedies, at Itiw or in equity, and this Mortgage may betore- closed with all rights and remedies afforded by the laws of Florida and Mortgagor shall qy ail costs, charges and expenses thereof, including a reasonable attorney's fee, including all such costs, expenses gad attorney's fees for any retrial, rehgring of appeals The indebtedness secured hereby shall bear interest at the highest lawful rate of interest 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 gyments, the Mortgagee may, at its option, collect a late charge as may be pro- vided for in the Note, to reimburse the Mortgagee for expenses in collecting and servicing such instalment gyments. 13. If default be made in payment, when due, of any indebtedness secured hereby, or in performance of any of Mortgagor i ob6gatarts, oorenants or agreement hereunder: (a) Mortgagee is authorized at any time with notice, in its sole discretion to enter upon and take possessioitof the Mortgaged Property ~ or any part thereof, to perform any acts Mortgagee deems necessary or proper to conserve the aecutity and to collect and receive all rents, issries ~ and profits thereof, including those put due as well as those accruing thcreaftet; and - (b) Mortgagee shall be entitled, as a matter of strict right, without notice and exparte, and wiWout regard to the value or occupancy of the security, or the solvency of Mortgagor, or the adegwcy of the Mortgaged Property as security for the Note, to have a receiver appointed to enter upon and take possession oC the Mortgaged Property, collect the rents and profits therefrom and apply the same as the court may direct, wch receiver to have all the rights and powers permitted under tht laws of Fbrida. In either such case, Mortgagee or the receiver may alw take possession of, and for these purposes use, any and all personal property which is a qri of the Mortgaged Property and used by Mortgagor in the rental or kasirrg thereof or any put Wereof The expense (inchding receiver's fees, counsel rtes, costs and agent's compensation) incurred pursuant to the powers herein contained shall be secured hereby. Mortgagee shall 1 fatter gyment of all costs and expenses incurred) apply such rents, issues and ptoftts received by it nn the irtdebtednesss secured hereby in such 6 order as Mortgagee determines. The right to enter and take possession of the Mortgaged Properly, to manage and operate the 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 aRorded F by law, and may be exercised concurrently therewith or independently thereof. Mortgagee shall be liable to account ody for such tents, iswes and profts actually received by Mortgagee. 14. If the indebtedness secured hereby is now or hereafter further secured by chattel mortgages, security interests, financing statements, pledges, contracts of guuanty, assignments of leases, or other saurities, or if the Mortgaged Property hereby encumbered consists of more than one puce) of real property, Mortgagee may at its option exhaust any one or more of said securities and security hereunder, or wch pucels of the security hereunder, either concurnntly or independently, and in such order as it may determine. 15. This Mortgage shall secure not only existing indebtedness, but also wch future advances, whether such advances are obligatory or to be made at the option of Mortgagee, or otherwise, as are made within twenty (20) years from the date hereof, to the same extent as if such future advances were made on the date of the execution of this Mortgage, but wch secured indebtedness shall not exceed at any time the maximum a i 3~~K X42 Pa~~ 92 .3 F ' t