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HomeMy WebLinkAbout0772• ~~ .. u-•e•ount to luey such rhurges when due shall he 1,:-id by Mortgagor to [1lortqugee• on demand. It, by n•:w_tiun of :,ray deluult by Mortgagor under any provision of this Mortgage, Mortgagee de•e•lares all sums see•ured hereby to he due and payable, Mortgagee may then apply any funds in said amount against the entire indebtedness secured hemby. ThP enton•eability of the e•ovenunta relating to tuxes, assessments and insun-nce premiums herein otherwise provided shall nut I,e affected ezeepl ir-su(ur us those obligations have been met by compliance with this ),urugraph. Mortgagee may from time to time ut its option waive, and utter any such waiver reinstate, any or a,l) provisions hereof requiring such deposits, by notice to Mortgagor in writing. While any such waiver is in e(fec•t, Mortgagor slwll h:ry luxes, usseavments and insunme•e premiums :-.4 herein elsewhere provided. 4. 7`o promptly pay all taxes and assessments assessed or lewd under and by virtue of any state, fe~dend, or municil,al law or regulation hereafter passed, against Mortgagee ulwn this Mortgage or the del-t hereby sec•urcd, or ulwn its interest under this Mortgage, provided however, that the total amount so {,aid for noy such luxes pursuant to this Ix-rakraph togeth- er with the interest payable on said indebtedness shall not exceed the highest lawful n-te of intemst in Florida and provided further that in the event of the p:ess:-ge of any such 1:-w or regulation im{waing a tax or asserssmenl against Mortgager.up- on this Mortgage or the debt secured hereby, that the entire indeblednes.4 secured by this Mortgage sh:-11 thereulwn he- -•ome immediately due and payable al the option of Morfg:rgee. 5. To keep the Mortgaged Properly insured against loss or damage by fire, and all I,erils insured against by an ex- tended coven,ge endorsement, and such other risks and perils :rs Mortgagee in its diRe•retion m:+y requirn. The Iwlicy or Iwlie•ies of such insun,nce sh:-11 he in the form in genen,l use from time to time in the locality in which the Mortq:-ged Pro{,erly is situated, shall Ix~ in such amount as Mortgagee: may reasonably require, shall he issued by n e•oml,any or e•omlr-nies approved by Mortgagee, and shall contain n standard mortgagee clause with loss p:-yaMe to Mortgagee. When- ever required by Mortgagee, such Iwlicies, shall t,e delivered immediately to and held by Mortgagee. Any and all amounts rctirived by Mortgagee under any of such Iwlieies may hP applied by Mortgagee on the indebtedness secured hemby in such manner as Mortgagee may, in its sole discretion, elect or, :d the option of Mortgagee, the entire amount so received or any part thereof may be rnle:-sed. Neither the application nor the release of any such amounts shall cure or waive any def:-ult. Upon exercise of the lwwer of a•-le given in this Mortgage or other acquisition of the Mortgaged Pm),erly or any Imrt there- of by 111ortgagee, such Iwlicies shall become the at,solute pro{,erty of Mortgagee. G. To first obtain the written consent of Mortgagee, such consent to l,e granted or withheld at the sole discretion of Mortgagee, before la) rnmovinq or demolishing any building now or hereafter eree•ted on the premises, Ib) altering the :-rr.-ngemenl, design or structural character thereof, (c) making :-ny rnlrrirs which involve the rnmoval of structural )u,rts or the exlwsurn of the interior of such building to the elements, (d) c•-rtling or removing or permitting the c•uttinq and re- moval of any trees or timber on the Mortgaged Properly, le) removing or ezc•h:rnginq any tangible I,er,onal ~,roperly which is hart of the Mortgaged Properly, or (f) entering into or modifying any leases of the Mortgaged Pmperty. 7. 'To rrr:-int:+in the Mortgaged Pro),eriy in good crondition and relucir, including hut. not limited to the m:,kinq of such rel,:,irs :rs Mortgagee may from lime to time determine to he nee•esga,ry for the pre„ervation of the Mortgaged Yro{arty and to not commit or permit any waste !hereof. 8. To comply with all laws, ordinances, regulations, covenants, -conditions and restrictions affPC•tinq the Mortgaged Property, and not to suffer or permit any violation thenr,f. 9. I( Mortgagor tails to p:,y any claim, lien or Pncumhramr which is sutxrior to this Mortgage, or when due, any tax or assessment or insuramr premium, or to keep the Mortgaged Property in repair, or shall commit or permit waste, or it there he commenced any action or proceeednnq ,affecting the Mortgaged Pro1,Prty or the title thereto, or the interest of Mortgagee therein, including, I,ut not limited to, eminent domain :,nd hnnkrul,tc•y or reorganiz•-tion proceedings, then Mortgagee, at its option, may I,:,y s:-id claim, lien, encumbrance, tax, assessment or premium, with right of subrogation thereunder, may make such retu,irs and take such steps as it deems advisable to prevent or corn such waste, and may appear in any such action or ptcxredinq and rntain counsel therein, and take such action therein as Mortgagee deems ad- visable, and for any of such purywses Mortgagee may advance such sums of money, including all costs, reason:-ble attorney's fees and other items of expense as it deem.4 nec•PSS:-ry. 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 ne<•easary to he paid in satisfaction thereof. Mortgagee shall not he held accountable for any delay in making any such I,:,yment, which delay may result in any additional interest, crosts, charges, expenses or otherwise. 10. Mortgagor will ),:,y to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee to prolec•t the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's tees and other items of exl,ense, together with interest on each such advancement at the highest lawful rate of interest per annum in the State of Florid:+, and all su,•h sums :-nd interest thereon sh:,ll he secured hemby. 11. All sun>_4 of money scr•ured hereby shall he p:ryalrle w•ithuut any relief whatever from any valu:-liun or :,7,praise- ment laws. 12. If default he made in payment of any instalment of princip:,l or interest of the Note or any Is,rt thereof when due, or in payment, when due, or any other sum secured hereby, or in I,er(ormance of any of Mortgagor's obligations, coven- ants or agreements hereunder, :dl of the indebtedness secured hereby shall hec•ome and le immediately due and payable at the option of biorlgagee, without notice or demand which are hereby exprPa5ly waived, in which event Mortgagee may avail itself of all rights and remedies, at law or in equity, and this Mortgage may t,e foreclosed with all rights and remedies afforded by the L•cws of F (orida and Mortgagor shall pay all costs, charges and expenses thereof, including a re:sonable attorney's fee, including all such costs, expenses 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 annum in the State of Florida from and after the date of any such default of Mortgagor. If the Note provides for instalment f,:,yments, 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 expenses in collec•tinq and servic•inq such instalment p:ryments . 13. If default he made in payment, when due, of :,ray indebtedness assured hereby, or in I,erfonnance of any of Mortgagor's obligations, covenants or agreement hereunder. 1:-1 Alortq;-Ree is :-uthorized :rt any time, without notice, in its sole disc•rntion to enter u)wn and t:-ke fwe+seaKion of the Mortgaged Pro),erty or any part thereof, to perform any acts Mortgagee deems necessary or proper to consene the security and to collect and receive all rents, issues and -profits thereof, including those past due as well :-s thave accruing thereafter: and Ih) Mortgagee shall he entitled, as a matter of strict right, without notice and exparte, and without regard to the value or ocrul,ancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Properly as security for the Note, to have a receiver aplwinted to enter u)wn and take possession of the Mortgaged Properly, collect the rents and 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. In either such case, Morlgagee or the receiver m:ey also take fwssession of, and for these purposes use, any and all t personal property which is a hart of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or any part thereof. 7'he expense (including receiver's fees, counsel tees, costs and agent's compensation) incurred pursuant to the powers herein contained shall he secured hernhy. 111ortgagee shall (alter payment of all rusts and ezpenses incurred) _2_ e~x344 PEE ~z - _ _ ~ ~: