HomeMy WebLinkAbout0137:ii•cuunt tu puy such chargNa when due ahall I~e ~wid hy MortgaKor tu Mu~tgaRee u~ drm.u~d. 1(, by ~r.~~in u( :~ny del~~ult
by Mortgagor undr~ any provision ot lhis Murtguge, Mortgi-gee drelun3a ull sur-~ ~•ured h~~by co I~e due und ~wyal,le,
Murtgngee may then tipply any funds in auid uiY~uot ogui~at lhe entire indebted~csx se~vrrd hemby. The et-forceability of
the covenanta reluting to tuxes, e~saeuamenle and inaurunce premiuma herein otherwiae provided shull nol be a((ected excepl
inaofur ae those obligi~tiona huve been met by com~diunce wilh lhis ~wruRraph. Morlgugee may trom time to Iime at its
optio~ wAive, and a(ter uny such waiver reinat:-te, uny ur :dl pruviaions hereof requiring auch depoaita, by notice to
hlortgugor in wriling. While nny such wuiver is in e(tecl, Mortgago~ ahall ~wy taxcs, uxeesementa ond i~sun~nce premiums
.w herein elaewhere pmvided.
4. To prompQy ~x~y uU taxes and iiyeesxmenls uxsexstvl or levi~d under und by virtur o( uny sla~te, tederal, or mu~ici{ril
law or reguli~tion hemattet pusaed, againat Mo~lgiigee u~~on this Mortguge or the debt herehy secured, or u~wn its interesl
under this 'doriguge, provided however, thut Ihe tolul s+mounl so ~id tor Any such taxes pur~uunt lo thia {~:uagruph logrth-
+r with the intereal {-ay~ble on a:~id indel~tedn~ss shull not exceed thc highc~al lawful r.~te ot interest in Florida and provided
furlher tlwl in lhe event ot the paxsage ot uoy such law or regulaliun im~ing u t:~: or as-~sxsment aguinst hlortguRee up-
on this Mortgage or the debt secured hemby, lhat Ihe entim indei-tednes4 secumcl by this Mortgagp sh:~ll thernu~-on I~e-
~•ome immecfialely due and {~aynble al the optio~ o( Mortg+igee.
S. To keep the Mortguged Property insured against losx or dunwgc by tim, and all {~rils insured ag.~inst by .~n ez-
tended corer.ige endorsemrnt, and xu~•h other risks and ~~erils :~s Morlgagee in ile diw•retion m:~y require. 7'he ~~oiii•y or
~,olicies o( such insurnnce shall be in the (orm in general use from time to time in the locs~lity in whic•h Ihe Morlg~ged
Pro~~erty is situalecl, shall be in such umount as MoHguger m:~y rr•-.wnably require, shal) be issued by a com~-:~ny or
~~ompanies approved by MortRagee, and shall coMuin a st.~ndurd moriRagre clause wilh loss ~~ayable !o MoriKagee. When-
e~~er requimd by Mortgugee, such ~~olii•irs, shall t~e delivend immediately to and held by MoHgagee. Any and all amounts
rctiriv~d by 111ortgagE~e under any of such policies may 1-e :~ppliecl by Mortgt~gee on lhe indebtedness secure~l hernby in su~•h
manner as Mortgugee m:iy, in its ~le discmtion, elect or, a~t the option of rlortRagee, the enlirn amount so re~rived or any
~~art ihereof may be mleased. Neither the :~pplication nor 1he release of any such nmounts sh:ill curn ar wuive any de(~ult.
llpon exen•ise ot the ~~ower ot sale gi~•en in this Mortgaqe or ofher acqui~ition of the MortRaRed Pm~~eHy or anv part them-
of by Morigugee, such ~-olicies shall tx~~me the ahsolute pro{~erty o( A1orlgaRee.
6. To tirst obt.~in lhe written consent o[ MortR:~gce, su~•h ~nnsent to 1-e granted or withheld at the sule diw•retion ot
MoHgagee, before la) removing or demolishing .~ny building now on c~m:ifter erected on the premises, tb) altering the
:-rr.~ngement, design or struetural chancter thereof, fe) making any rn~xiirs which im•ol~~e the removal of structural ~wrts
or the exposure ot the interior of su~•h buildinR to the elements, Id1 cutting or mmoving or permitting the cutting s~nd re-
moval of any trees or timber on the Mortgaged Property, fe) removing or exch:~nging any tangible persona) properly whi~h
is E~:~rt of the rlorlgaged Pm~~erty, or (f) e~terinR into or modifyinR any leases of the MorlgaRec) Pro~~erly.
7. To maiintain the Mortgaged Property in Rood condition and rr{u~ir, includinR but not limited to the makinR ot such
rr~kiirs :~s MortRaRee may from time to time determine fo t-P n~ces.g:~ry (or the prnserv:~tion of the MortR.iKtv~ Pro~erty and
to nol rnmmit or ~~ermit any w:iste thereo(.
R. 7'o cwmply with all laws, ordinani•es, regul:dions, :rovenanls, .rondilions :ind n~tri~•tions :~(fey~ting the MoHRagc~cl
Pro~~erty, and not to suffer or ~~ermit any viulation themof.
9. If Mortgagor f.~ils to pay any ~•laim, lien or rn~•umbr.~n~•e v-hich is su~~erior to this MortRa~e, or when due, :my tax
or asscs~ment or insurance pmmium, or to keep the Morigaqed Pm~~erly in rr~-air, or shall commi! or ~~ermit w:~ste, or i(
there be commenced any a~ction or proc•eedinR a(fectinq the Alortgaged Property or the title thereto, or the interest ot
~lortgagee therein, im~luding, Iwt not limitecl to, eminent domain and tu~nkruplc•y or reorKaniL~tion proc-eedinqs, then
Alorlg~gee, at its option, m:ry ~k~y s:+id claim, lien, en~•umbran~r, tax, asses.gment or premium, wilh right of subroRation
thereunder, may m:ike suc•h re~H~ins and take sw•h ste{-s as it derms advis:~ble to pre~~ent or cure such waste, and may
appear in any such action or proceeding and ret:~in counsel therein, and t:ike such action therein :is MortRager deems :~d-
~•isable, :~nd for any o( such purEx~ses N1ortRaqee may ad~•ance such sutna ot muney, ini•luding al) costs, re:~son:~ble attorney's
fees and other items of e:pense as it deems necess:~ry. 1liortKagee shall t-e the sole judge of the leqality, validity and priority
of any surh i•laim, lien, encumbrani•e, tax, assessment and premium and of the amount ne~•e.csary lo be ~~id in satistaction
thereof. Morig.igee sh:ill not be held accounlable for :iny delay in m:~king any sui-h ~myment, whii~h delay may resull in
any additional interc~t, costs, charRes, ez~~ensc~ or otherwi~ce.
10. 11ort~agor xill ~~:~y to R1ort~aRcr, immediately and w~ithoul Jem:~nd, all sums o( money adv.m~-ed by Mnrt~;n~a~
to protect the sei•urity herrof pursu.int to this !~torlgaRe, in~•IudinR all costs, re:i~nable attorney's tees and other items of
e~x~~ense, toQether w•iih interest on each such advancemenl at the highesi lawful rate of interest ~x~r annum in the St~te oI
Florida, and all such sums and intemst themon shall he ser~ured hemby.
11. All sumv of money u~'ured herrby shall IK~ ~-:~y:~Lle with~-W any n•liet w•h:~te~•er fmm any caluation or :q~pr:~isc~-
mrnt laws.
12. I( detault be m:ide in payment nt any instalment of princi~-al or interest ot the Nute or any ~~:~rt thereot when
due, or in payment, when due, or any other sum ~ecvred hereby, or in ~~ertormam•e uf any of Mortgagor's oblig:~tions, ~'oven-
ants or agreements hereunder, all of the indebtcYlnt~tis sc~c•ured hemby shall become and F-e immediately due and ~~.-~yable at the
option ot Mortgagee, without notice or demand which are hereby ex~~mssly wai~•ed, in which event MortRagee may a~•ail itself
n( :~II rights and remc~ies. at law or in equity, and this !~lortgage may I~e (oreclosed with all rights and remedies a(forded by
the laws ot F lorida and Mortgagor shal) ~k~y al) ccrsts, charges and expen.ges thereo(, including .~ reason.ible attorney's fee.
includinq all such costx, expenses and attorney's (ees for any retrial, mhearing or appeals. The indebtednesg secured hereby
shall bear interest at the highest lawtul rate ot interest ~~er annum in lfie State o( Florida from and a(ter lhe date ot any
such de(ault of 1Norigagor. I( the Note pro~•ides tor inslalment ~uiyments, the MortRagee may, at its option, collect a I~te
charRe not to exi~eed lwo i•ents for each one dollar not paid to the biortg:iRee when due, to reimburse the Mortgagee for
ex{~enses in collei•tin~ and sen~i~•inR such instalment payments
13. I( de(ault tx~ Fnade in payment, when due, ot :iny indeblednrss secured hereby, or in per(ortnan~e ot any of
MortRaRor's obliRations, covenants or .iRrec~ment hemunder.
lal Mortga~ee is authorized at any time, without nutice, in its sole discrelion to enter u{wn and 4~ke ~-ossession o(
the Mortgaged Pro~~erty or a~ny ~h~rt thereof, to ~~er(orm any acts MortRagee deems necessary or proper lo consen•e the
security and to collect and recei~•e all mnts, issues and pro(it~a thereof, including those past due as wel) as ihose aerruing
therea(ter, and
Ib) MortRagee shal) be entitled, as a matter of strict riRht, without notice and e:~~arte, and wilhoul regard to fhe
value or occu~~.~ncy ot the security, or the sol~~ency of 111ortAagor, or fhe adequacy of the D4ortgaged Pmperty as security for
the Note, to have a recei~~er appointed to enter upon and take ~iosgession o( the MortRaRed Pro~erty, collect the rents and
protits therefrom and apply the same as the court may direrl, such rec~eiver to ha~•e al) the riqhts and powers permitted
under the laws o( Plorida.
In either such case, Morlgagee or lhe rec•eiver may also fake ~wssession of, and (or these purposes use, any and al)
~;~r4on:,1 ~ro~rty which is a ~k~rt of the Mortgaged Property and used by Morigagor in the rental or Icasing thereof or
any part thereot. The expense (including receiver's fees, counsel feea, cosla and agenl's compensation) incurred pursuant
to the powers herein contained shall be secured hereby. Mortg~gee shall (a(ter payment ot all costs and e:penses incurred)
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