HomeMy WebLinkAbout1787. ~~ '. + `.~ ~i
anY~unt to ~uiy xu~•h ~•hurKes whcn du~ ah:~ll i~e ~w~id by 111urtgugor lu Mortgagiti: on ~muod. It, hy rruxon ol a~ny delauh
by Rtor~gugor unde~ uny proviaion oI this Atoriguge, A1ottRagee dcK•li~rea ull sumn x~c•ured hemby to be due und {x~yuble,
Mc-~tgugee aury then upply Any (uocis in ai~id nccoun! ug~inst the enlire indebtedn~~xs se~•ured hereby. The enton~eability o(
the ~~venuntx rri:Uing to ls~z~, +~ments and inaurunce premiume herein otherw•iee provided s+lwll no/ be aI(ected excepl
in~wfur i~s lhaw ubligationx tu~ve i~evn met by compliance with thia pun~Rruph. MorlRa~ee nwy from time to time rri ils
uption wai~~e, and u(ter nny such waiver reinstate, uny or all provisions hereot reyuirin~ wch de~~orib, by notice 1u
Martgugor in writing. While uny such w~~i~•er is in e((e.-t, AtortguRor at-alt Ex+y luzrx, axseusrne~ts und inaurancr p~emiuniss
:u~ herein elsewheru pro~•idrd.
4. To prompUy ~wy ull laxes r~nd u~.cx~nentx .~x~:ssE~cl or Irvied uode~ und by virtue o( noy xinte, fedend, o~ munici~ud
L•iw or regulution herratter ~-uxued, aguinat Murtg:~gee u~x~n lhia MoHgage or the ddht hereby aecu~rcl, or upon ita inter~~t
under this INortga~ge, provided huwaver, ttwt the lotul amou~t ew {wid for uny such tn:ea punuant to ihis ~~r.~K~aph togeth-
er Ni1h the interrsl p:-ys~ble on s:iid inJeblyd~rss shull not excred the highe~at (uw(ul nite ot inten~st in Floridu und pni~•idc~1
further ttu~t in the event ot the {muvuge ot any such law or regulatiun im{waing i~ tux or asec~mrnl aguiust Morigugre up-
un ~hia ~1ortQage or the debt secured henhy, thut the entim indebtednes~ sec•unrl by this hlorlg:~Ke shnll thrrnu~wn F~-
i~ome immediately due and ~myt~ble ul the optioo ot MoHgxeee.
5. To keep lhe Mortguged Propetiy i~su~~d uguinst lo~c or d~nwKc by (in, und .ill perila insund :~gnin~t by u~ ex-
.~~nded cover.ige endorsement, :ind such other risks and ~mrils t-s Morig.~gee in ita discrction may require. The ~x~lii•y or
~x-liciex of such insun~n~~e sFu~ll be in the larn- in Rener~d use fmm time to time in the 1«•ulily in which the 4lortg:~Keci
Prv~-erly IR 91IUi1~C(I, sFu~U t-e in such amoant :~s MoriR:~gm m:~y reasonably require, ahnll be issued by n con~{wny or
~•om~H~nies ~ppro~•ed by Mortgager, :~nd shull co~tain u slundarcl mortg.~Ree clause wi~h loss ~xi~yable ~o MoN~agee. When-
e:ver required by Mortgugee, su~•h ~x~lii•ies, sh:dl 1-e deli~•ered immediately to :-nd held by MoHgagee. Any :~nd all Wmounls
rc~arivecl by !1lortg~gee under any of such {~olicies m~y 1~ :~ppliecl by Morlgagee on !he indehtedness sec•urecf hernby in su~•h
m.~nner as INorigaRee may, in iis sole di~•retion, elect o~, al lhe uption of MortRaRee, the c:ntirc :~mount so re.rived or :~ny
~u~rt ihereof may be rele:-aed. Neilhe~ the application nor the release ot any su~h amounts sh:dl curn or wni~r ~ny default.
U~wn exen~ise of the ~-ower ot s:de Rieen in this Morlg~Re or other acquisition of thr MorigaRed Pm~Mrty or any par! them-
of by Mortgagee, su~•h ~,oli~•irs shaU I~ec-ome the ~I~lule pn-perly o( A1oHRagcr.
6. To terst oMain the written consent of MortgaRec, such ronsent to t~e Rrantrd or w•ithheld at the ~le disi•retion o(
Mortgngee, before (:+1 removing or demolishinR any buildinR now or herrafter en~•tc~d on the premises, It-- alterinR the
arr.~ngemeM, design or structurnl characler thereot, (c) making a~ny m{x~irs which involve the removal o( stru~tural ~k~ris
or the ex~wsum of the interior ot such buildinR to the elements, (d- cutting or rnmoving or ~-ermitfing the cutting and re-
mc,~:~l ot any treex or timher on the MortRnged Property, le- removing or excha~nging any tangible ~~er3onal property which
i~ ~,:,rt of the Mortg:~t~f Pru~~erty, or tf) entering into or modifyinR any (e:~ges o( the MortgaRcrl Ym~~erty.
7_ To m:iint:~in the 111ortgaged Pro{~eHy in Rood condition and re~k~ir, including but nol limited to the makinR of such
re~k~irs as Mortgagee may lrom time to time determine to he necesv.~ry !or the preserv:+tion of the MortRagecl Pro~~erty and
to not ~•ommit or ~~ermit any w:~ste thereof.
8. To comply with all laws, ordinances, regul:dions. ~~oren.+nts, t•onditic~nx :~nd rnslri~•tionr a(fec•ting the INortRaRecl
Pro~x~rty. :ind not to suf(er or ~~ermit :~ny ~iolation lhereof. .
9., If AtortK:~gor (ails to Ek~y any i•laim, lien or en~•umbr.~nre whi~•h iti su~x•rior to this I41orf~aKr, or Mfien due, any tax
ur :~~sc:~sment or insurani•e pnmium, or to k~rp the \tortRa~ted Pm~x rty in nqx~ir, or shall commil or permit w~ste, or if
there t~e commenced any action or prrxreclinR :Jfcr!ing the A1ortKaKed Property or the title thereto, or lhe interest o(
MortR:~Ree therein, in~•luding, but not limited to, eminent dom:~in and hankruptcy or reorganiz:ition pro~~eedinRs, thPn
Mortgagee, at its option, may {~:~y s~id claim, lien, encumbran~r, tax, assessment or premium, with riRhl ot subrogation
thereunder, may make surh rnp:~irs and take su~•h ste~~s as i! deems ad~•is:~ble to pre~-ent or ~•urn such w:~ste, and may
appear in uny tiuch action or pnx~eedinR and mtain i-ounsel tfierein, :ind take such action therein .~s 1~lortk:~Rcr deems ad-
~•i~.~ble, :md (or any o( such pur~wses A'IortRagee may ad~•.~nce such sums ot muney, including all crists, reasonable atlorney's
fees and other items o( ex~~ense .~s it deems ne~•es-a:~ry. 1~iurtKugee sh:ill t~e the sole judge of the legality, validity and priority
of any such i•laim, lien, encumbranc-e, laY, :isses.4menl and premium and o! the amount necessary to be ~~aid in ~tis(~rtion
lhen~f. Mortgugc~ shall not I-e held accuunlable for xny delay in makinR any su~•h ~u~yment, which delay may result in
anr additional inten~l, cosls, i•harRes, expenses or othervrise.
10. ltortRaRor will ~~:~y to AlortRaR.r, immedi:dely und withuut demand, :dl sums of money ad~:+nird My MoriRaRee
to protect the sei•urity hereof pur:iuant t~~ fhis Morf~aRp, includinR :ill ~•osts, m:~sonable attorney's teex and other items ot
ex~~ense, toRether wifh interest on e~ch such ad~•arnrment at lhe hiRhe~ct law(ul rate of interest per ~nnum in the State o(
Mlorida, and ~II su~•h sums :~nd intemst there~n sh:~ll he ~•umd hereby.
11. All sums of m~~ney se~vred herehp shall iM ~~:ry:~ble withoul any mliet wh:~tever (rom an~ valuati~m or :q~pr.~i~e-
mt~nt I:nvs.
12. If de(ault he made in p:~ymenl of any inrtalment o( prih~•i~~.~) or~ interest of the'~ofe ~or'~A~y ~~.~rt thereo( when
due, or in payment, when duP, or any other sum sc~•ured hereby, or in ~~er(ormance ot any ot Mottgagor's obligations, roven-
:~nts or aRreements hereunder, :~11 ot thc indebtednexs sec•ured hereby ahall t-ei.rome and t~e immediately due apd (~ayable at lhe
option of Mortgagee, withou! noti~-e or demand which are hereby expr~ly waived, in which event Mortgagee m~y :~.•ail itself
o( :~II rights and mmedies, at law or in equity, :~nd this MortRaRe may be foreclosed w•ith ~II riRhts and rcmPdie~afforded by
the laws o( Florida and MortRaRor shall E~:~y all costs, charges and expensea thereo(, incloding a reasonable attorney's ~ee,
includinR all su~•h c~ts, ex{x~nsex and attorney's (cx~s (or any retrial, mhearinR or appenls. The indebtedness secured hereby
shall I~ear interest at the highesl lawtul rate ot intemst ~~er annum in the State ot Florida fmm and a(ter lhe date of any
such detault of AlortgaRor. I( the Note provides tor iaatalment payments, the 111origaRee rru~y, at its option, co~lect a late
i•harge not to ex~~eecl two i-ents (or e:u-h une cloUar not paid lo the ~1ortR:iRee when due, to reimburse the MortAaRee for
rx~~enses in ~•ollerfinR and sc~rvicinR such instalment ~~:~ymPnts
13. If de(:mlt Fx~ m:~de in ~x~yment, when due, of am indebtednesc se~vred her~by_ ar in ~~ertorm:in~-e of any of
lllortR:igor's oblig:~tiuns, c~~~enanta or aKreement hereunder.
lal MortgaRee iR authorir.ed ~t any time, without nutice, in its sole discretion to enter u~x~n and take ~ws.gesaion ot
the MortgaRed Ym~~erty or ~ny part thereof, to ~xrtorm any ac•ls MortRaRee deems neces.sary or proper to conaen•e the
se~vrity and to colle~•! and rei•eive all renls, issur~s and protit~g thereo(, inrluding those ~iast due as well as those acrruinR
thereafter: and
Ib) MortRaRee shal) I-e entiNect, as a matter o( s1riM right, without notice and exparte, and without teBard to the
value or occu~~ancy of the sec-urity, or the soh•en~•y ot ~iortgagor, or the adequacy of the Mortgnged PropeHy aa secvrity (or
the Note, to have u nrei~•er ap~iointed to enter u~wn and take ~~osges.gion o( the Mortgaged Pro~~erly, collect the renta and
pmtits therefrom and apply the came ns thp court may dircrt, auch receiver to have all the righta and powera permitted
under the I~ws o( Florida.
In either such case, MortR~gee or thc recei~~er may also take ~wsgeasion ot, and for theae pur(wsee uae, any and all
personal property which is o part o( the Morlgaged Pro~~erty and uaed by Mortgaqor in the rental or leasing thereo( or
:~ny part thereot. 'I'he e:~~enae (including receivera feea, counsel tees, costs and agent's compeneation) incurned pursuant
to the powera herein contained shall be secured herehy. Atortgagee shall (atter payment o( all coate and e=pensea incorred)
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