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HomeMy WebLinkAbout25764. To pwmplly pay aU Iarrs arni asssrssmrnts assrssrd ur kv~td umie~ and by virtue of any ststc, faie~al, or m~nicipal law ot re`ulation herrafter p;used, a~ea~nst Nu~tgager upun this Nortie:yse or thr drbt hercby secured, or upon its interest wK1er this Mottgage, provicled howerer, ~ha! ~hc wtal amuunl so paid for rny wch ~axes purwant to this pua6raph tugether with the inte~cst paysbk un uid indebtedoess shaU aot exceed the highest lawful rate of interest in Florafa ~nd pruvxird further that in the event of the passsge of any such law• o~ regulation imposing a tax or assessment against Mortgagee upon this Mortgage or the debt mured hercby, tlut the entite indebtedaeu secu~ed by this Mottaa~e shall thrreupon bcrome immediatcly due and payabk at the optioo of Mortgaaee. ~ S. To keep the Mortga~d Property insurcd saainst luss or damage br fue, and aU perilt insuted aaainst by an extended covetage endone ment, and such other risks aod perils u Mort6agee i~ its discation may regui~e. The policy o~ policies of such insurana shaU be iu the lotm in gene~al use from time lo time in the locality in which the Mortaaged P~oporty is sitwted, shaU be in such amount u Noitga6ee may reasonablY require, shall br iuued by a compsny or companies approved by btortgageF, and shaU contain a standud mortgagte clause wilh bss psyabk to Aiortgagee Wheneve~ requirod by Mortgagee. such poli~.ies, shaU be delivercd immediately to and held by Mortgagee. Any and all amounu received by Nortgagee under any ot such poGcies may be appGed by Mortgagee on the iodebt~dness securod hercby in such manner as Mortbagee may, in ~ts sok discreli.~n, elect or, at the optiun of Mortgagee~ Ihe entire amount so recxived or any put thereof may be releasod. Neither the application nor the release of any such amounts shall cute or waive any default. Upon exerciu of the power o! sak gircn in this Mort6age or other aoquisitioa of the Mortgaged Property or any part thereof by Mongagee, such poticies shaU become the absolute property of Mwtgaaee. 6. To fint obtain the w~ritten consent of Mortgagee, such cunsent to be granted or withheld at the sok disecetioa of Mortgaaee, beto~e (a) removing or demoliching any building now• or Aereafter erccted o~ the premises, Ib) alterina the arrangement, design or struCtunl chuacter therco[, Ic) making any repain which invoh~e the removal of structural puts or the exposute of the interior of such building to the elemeats, (d) cutti~g or rrmuving or pem-iuing 1he cutting and remoral of any trees or timber on the Mo~tgagod Ptoperty, (e) removina or exchanging any taaEibk personal property whKh is put of the Murtgaged Property, (0 enterin~t into or modifyiag any leases of the Mortgaged P[operty or (E) join in ot consent to any change in zoning of the Atottgaged Prope~ty. 7. To maintain the Nortgaged Property in goud condition and repair, including but not limitod to the making of such repairs as Mortgagee may from time to ume determine to be necessary for the preszrvation of the Mo~tgaged Property u~d to not commit or permit any waste thereof: arni Nortgagee sh~ll have the right to inspect ihe Mortgaged Property on ~euonabk notice to Moctgaltor. 8. To comply with all laws, ordinances, regulations, corenants, cunditions and restrictions affecting the Mortgaaed Property, and aot to cause or permit any violation thereof_ 9. If Afortgagor fails to pay any claim, lien or encumbrance which is superior to this Mortgage, or when due, any tu or assessment or insurance Qremium, or to keep the Mortgaged Property in repair, or shall commit or permit wute, or if thete be commenced any action or pro- reeding affecting the Mortgaged Property or the titk thereto, or the interest of Mortgagec therein, includiag, but not limitod to. emiaent domain and bankruptcy or reorganization proceedings, then Mortgagee, at its oplion, may pay said claim, liea, encumbrance, tax, assestment or prcmium, Nith right of subroaation thereunder, may make such repain and talce such steps u it dams advisabk to prevent or cure such araste, and may appear in any such action or proceeding and retain rnunsel therein, and uke such action thetein u Mortgagee dcems advisabk, and for any of such purposes Mortgagee may advance such sums of money, including all costs, reuonabk attomey's fees and other items of expense u it deems nea essary_ Mortgagee shall be the sok judge of the legality, validity and priority of any such claim, licn, encumbrance, tu assessment and premium and of the amount necessary to be paid in ~tisfaction thereoL I-fottgagee shall not be heW xcountabk for any delay in making anY wc6 payment, which delay may result in any additional intetest, costs, charges, expenses or otherwise. 10_ ~tortp,agor will pay to Dlortg,xgee, immediately ud withuut demand, all sums of money adranced by Mortgagee to ptotect the sec~uity hereof pursuant to ihis lfortgage, including all costs, reasonabk attorney's fees and other items of expense, together with interest on ach such advancemenl at the highest law•ful rate of interest per annum aUowed by the law o! the State of Florida, and all suc6 sums and intetest thereon shall be secured hereby. 11. All sums of money secured herebp shatl be payable w~thuut any relief whateve~ from any valwtion or appraisement laws. 12_ If default be made in payment of any instalment of principal or interest of the Note or any put theteof when due, oc ia payment, when dur, or any other sum secured hereby, ot in peiformancY of u-y of Mottgagoi s obtigations, coveoants or agrcements hereunder, all of the indebtedness xcured hereby shall becume and be immediately due and payabk at the option of Mortgagee. without notice or demand wnich are hereby expressly xaived, in which event Mortgagee may avail itself of all rights and remodies, at law or in oquity, and this Mortgage may be foro- closed with all rights and remedies afforded by Ihe laws of Ftonda and Mortgagor shall pay all costs, cLarges and expenses thereof, including a reasonable attorney's (ee, including all such costs, expenses and attomey's fees for any retrial, rehearing or appealt. The iadebtedness xcured hercby sha0 bear interest at the highest law ful r~te of interest per annum allowed by the law of the State of Florida from and after the date of any such default of Nortgagor. If the Note provida for instalmrnt paymenis, the Mortgagee may, at its option, coUect a late char~te u may be pro- vided for in the Note, to reimburse the Mortgagee for expenses in colkctiug and servicing such instalment payments 13. If default be made in payment, when due, of any indebted~eu secured hertby, or in petfotmance ~f any of MortgagoPs obtigatans, covenants or agreement hereunder (a) Nortgagee is authorized at any time with notice, in its sok discretion to enter upon and uke posussion of the Mortgaged Property or any part thereof, to perform any acts Mortgaigee deems necessary or proper to conserve the security and to collcet and receive all rentt, issues :~nd profits thereof, including those put due as well as those accruing thereafter, and (b) Mor:gagee shall be entitkQ, u a matter oi strict right, without notice and expute, and without regard to the value or occupancy of the securi:y, or the sohency of Mortgagor, or the adequacy of the Mortgaged Property u security [or the Note, to have a reoeiver appointed to enter upon and take possession of the Mortgaged Property, coUect the rents and pro6ts therefrom and apply the same u the court may d'uect, such receiver to have aU the rights and powen permitted under the laws of Fbrida_ In either such cue, Moctgagee or the rcceiver may also take possession o!, and for these purposes use, any and all personal propeety which is a put of the Moctgaged Ptoperty and used by Mortgagor in the renlal or kasing thercof ot any put thereof. The expense (including coceivei s (ees. ~rountel fees, costs usd agrnCs compensation) incurral punuaat to lhe powers hercin conuined shall be secutod hereby. Mortgqgee s1uU lafter payment of all costs and expenses incurred- apply such [ents, issues and profits reaivod by it on the u~debtodness secured hereby in wch order u Mortgagee determines_ The right to enter and take possession of the Mortgaged Property, to manage and opente the same, and to collect the rents, iuues and profits tMreof, vrhether by a receiver or otherwise, shall be cumulative to any other right or remedy hereunder ot affordod by law, and may be eaercised concurrenUy therewith or independently thereof. Mortgagee shall be liabk to account oaly for such rentx, iuues and profits actually received by Mortgagee. 14. If the indebtednoss securod hercby is now or hereafter furiher securod by cha~iN mortgages, secunty intecests, financinE statements, pledges, contracts of guannty, assignments of kues, or other securities, or if the Mortgaged Property hereby encumbered consists of more than one parcel of real property, Mortgagee may at its option exhaust any one or more of said securities and security hereundet, or such Qucelt of the security hereunder, either roncurrcntly or independently, and in such order u it may determina 1 S. This Mortgage shall securc not only existing indebtodneu, but also such (uture advances, whether such advances are obiigatory or to be made at the option of Alortaagre, or othecwise, u ue made within twenty (20) yeus from the date hereof, to the same extent u if such futute advances wete made on the date of tl~e execution o( this Moctgage, but such secured indebtedness shall not exceed at any time the maximum {~ J~ ,,,~ F~~~ix•~4~ p~Grz~ /•5 -2- ! _:~_ - ..: ~... ,_~-~,~