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ae•e•ount to pay such charges when due shall he fetid by Mortgagor to Mortgagee on dem:end. 1f, by reason ot~uny default
by Mortgagor under any provision of this Mortguge, Mortgagee declares all sums secured hereby to fie due and payable,
Mortgagee may then apply any funds in said account against the entire indebtedness see•ured hereby. The enforceability of
the covenants relating to taxes, asseswments and insunence premiums herein otherwise provided shall not be affected except
insofar as those obligations have been met by compliance with this paragraph. Mprtgagee Huey from time to time at its
option waive, and after any such waiver reinstate, any or :dl provisions hereof requiring such deposits, by notice to
)\tortgugor in writing. While any such waiver is in effee•t, Mortgagor shall pay taxes, assrssmenls and insurnnee f~remiums
as herein elsewhere provided.
4. To promptly p;ey all taxes and asso~menls ussess~d or levied under and by virtue of any state, tedeml, or municipal
law or regulation hereafter passed, against Mortgagee ufwn this Mortguge or the debt hereby secured, or ufwn its interest
under this Mortgage, provided however, that the total amount so paid for any such taxes pursuant to this fkerognq~h togeth-
er with the interest payable on said indebtedness shall nut exceed the highest lawful nUe of interest in Florid:~ and provided
further that in the event of the passage of any such law or regulation imposing a tax or assessment :against Mortgagee up-
on this Mortgage or the deM secured hereby, that the entire indebtedness soured by this Mortgage shall thereufwn be-
come immediately due and fwyable at the option of Mortgagee.
5. To keep the Mortgaged Property insured against loss or damage by fire. and all perils insured against by an ex-
tended eovernge endorsement, and such other risks and f~erils :es Mortgagee in its discretion may require. The fwlicy or
fwlic•ies of such insurnnee shell be in the form in genernl use from time to time in the !a•:dity in whie•h the Mortg:~qed
Proferty is situated, shall be in such amount as Mortgagee may reasonably require, shall be issued by a e•omfwny or
e~omfmnies approved by Mortgagee, and shall contain a standard mortgagee clause with loss f-ayable to Mortgagee. When-
ever required by Mortgagee, such fwlicies, shall he delivered immediately to and held by Mortgagee. Any and all amounts
received by Mortgagee under any of such fwlicies may 1-e applied by Mortgagee on the indebtedness secured hereby in such
manner as Mortgagee may, in its sole discretion, elect or, at the option of 1\iortgagee, the entire amount so received or any
Dart thereof may he released. Neither the application nor the rele:-se of any such amounts shall cure or waive any default.
Upon exen•ise of the fwwer of sale given in this Mortgage or other acquisition of the Mortgaged Property or any part there-
of by 111ortgager, such fwlie•ies shall become the absolute property of Mortgagee.
6. To first obtain the written consent of Mortgagee, such consent to I-e granted or withheld :d the sole discretion of
Mortgagee, before (a) removing or demolishing any building now or hereafter erected on the premises, Ih) :dterinq the
arrangement, design or structural character thereof, (c) making any refueirs which involve the. removal of structural parts
or the exposure of the interior of such building to the elements, (d) euttinq or removing or permitting the cutting and re-
moval of any trees or timber on the Mortgaged Properly, le) removing or exchanging any tangible frersonal property which
is fkert of the Mortgaged Property, or (f) entering into or modifying any leases of the Mortgaged Property.
T. To maintain the Mortgaged Property in good condition and retk~ir, including but not limited to the making of such
repairs as Mortgagee may from time to time determine to be necessrary for the preservation of the Mortgaged Property and
to not commit or hermit any waste thereof.
8. To comply with all laws, ordinances, regulations, <•ovenants, e•onditions and restrictions affecting the Mortgaged
Prof>eriy, and not to suffer or frermit :eny violation thereof.
9. 1f Mortgagor L•rils to fray any claim, lien or encumbrance which is sutrerior 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 it
there be commenced any action or proceeding affecting the Mortgaged Proferty or the title thereto, or the interest of
Mortgagee therein, including, trot not limited to, eminent domain :end twnkruptcy or reorganizrtion proceedings, then
Mortgagee, at its option, may f-ay said claim, lien, encumbrance, tax, assessment or premium, with right of subrogation
(hereunder, may make such refrairs and take sue•h stef~s as it deems advis:~hle to prevent or cure such waste, and may
appear in any such action or proceeding and retain counsel therein, and lake such action therein as Mortgagee deems ad-
visable, and for any of such purposes Mortgagee may advan~r such sums of money, including all costs, reasonable attorney's
fees and other items of expense as it deems neccessary. Alortgagee shall he 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 for any delay in making any such fmyment, -which delay may result in
any additional interest, costs, charges, ex f~enses or otherwise.
1Q. lllortgagor will pay to Mortgagor, immediately and without demand, :dl sums of money ads:~ne•ed by Mortgagee
to frrotect the security hereof f~ursuant to this Mortgage, including all costs, reasonable attorney's fees :end other items of
expense, together with interest on each such advancement at the highest lawful rate of interest free annum in the State of
Florida, and all such sums and interest thereon shall he secured hereby.
11. All sums of money secured hereby shall 1-e furyable without any relict whatever from any valuation or appreise-
ment laws.
12. If default be made in fkryment of any instalment of prineif-:rl or interest of the Note or any fuert thereof when
due, or in payment, when due, or any other sum secured hereby, or in per(orrrti~nce of any of Mortgagor's obligations, coven-
ants or agreements hereunder, all of the indebtedness secured hereby shall become and he immediately due and payable at the
option of Mortgagee, without notie-e or demand which are hereby expressly waived, in which event Mortgagee may avail itself
of all rights and remedies, at law or in equity, and this hiorigage may be foreclosed with all rights and remedies afforded by
the laws of Florida and Mortgagor shall pay all costs, charges and expenses thereof, including a reasonable attorney's 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 fate 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 f>.~id to the 1liortgagee when due, to reimburse the Mortgagee for
expenses in collecting and servicing such instalment payments.
13. If default be made in payment, when due, of any indebtedness secured hereby, or in performance of any of
Mortgagor's obligations, covenants or agreement hereunder:
la- Mortgagee is authorized at any time, without notice, in its sole discretion to enter upon and take fwssession of
the Mortgaged Property or any part thereof, to perform any acts Mortgagee deem3 necessary or proper to conserve the
security and to collect and receive all rents, issues and protit.4 thereof, including those past due as well as those accruing
thereafter: and
Ih) Mortgagee shall be entitled, as a matter of strict right, without notice and exparte, 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 ufwn and lake possession of the Mortgaged Property, collect the rents and
profits therefrom and apply the same as the court may direct, such receiver to have all the rights and powers frermitted
under the laws of Florida.
~ In either such case, Mortgagee or the receiver may :clso take possession ot, and for these purposes use, any and all s
E persona( profrerty which is a part of the Mortgaged Property and used by Mortgagor in the rental or leasing thereof or
any part thereof. The expense (including receiver's tees, counsel tees, costa and agent's co pensation) incurred pursuant _
to the powers herein contained shall be secured hereby. Mortgagee shall (after payment of all costs and expenses incurred)
_2_ g~`~344 P~~E111~
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