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HomeMy WebLinkAbout2837~~iruunl to ~~ny e~uch ctu~r~tes when due xh.iU tm {-:~id by Mortgugu~ tu Mo~tgugrr u~ demund. If, hy n:~~-n o( uny dr(aull by I1lortgugor under uny pro~~ixion uf this MurigaRe, Mortgagee declares ull aums secured hemby to (re due und ~~puble, MortgaiRee mny th~n apply nny tunda in said uccount i~guir-st the entirn indebtedn~sx sec•umd hemby. ThN eotorceubility ol the ~~ovenunts cela~/ing to taYes, uaarxssments und insurunre pmmiums herein otherwise p~ovidrd uhull not be attectcd excrpt i~(ar i~s thoee obligutiuns have bee~ met by compli~nce with this {xin~B~+~Ph.' Morlgagee muy imm time to time ut ita optio~ wuive, und atter uny sueh wuiver reinxlule, uny or ul) pro~•isions hereo( rryuiring such de~aita, by noti~~e lo Murlgugor in writing. While uny such wui~•er is in etfect, Mortgugor shull {x~y tuxes, uugewime~la and insun~nce premiums us herein elsewhera providrd. 4. To ~~romptlY paY uU taxeic iind uusrs~mentH :~s~nz~t or levied uoder .i~d hy viHue ol uny atute, teclers-1. or muni~•i~Hil luw or regulation hereaftcr {-usscd, aguinal Mortgugee u~wn lhis MoNg+~ge or the debt hemby aecured, or u{~un ils interest under this Mortguge, provided however, tha/ /he totul amounl so ~~aid (or any such lt~x~•x purswint to this µ~r.~g~ttiph togeth• cr with the interest p:~yuhle on ~id indebtedness shUll not c:cred the highest law(ul rate ot interest in Florida .~nd provided (urther lh:~t in the event o( lhe ~x~sy:~ge ot uny such law or rc~ul:-tiun im~wxing a laix or ussrssmcnt aguinst 111orl~agce up- on this Mortgage or the debt ~~ured hereby, that the entirn indehtecinc~ sc~•und by this MorIK:+Ke shull Ihrmu~~n I~e- i~mc immedintely due a~nd payable nt the option ot Mortgagee_ 5. To keep the MortRuRed Property insured aga~inst loss or d:~mage by fim, uad all ~~erils insurwl against by an ex- tended eoverage endorsement, and such othe~ ~isks s~nd ~mrils as Murigagee in ita discretion nu~y requirn. The ~wlicy or ~wlie•ies of such insun~nce shaill be in the torm in general use from time to time in the loculity in which Ihe MorlRuKcd Property is xituated, sh:ill t~e in such amounl as MortgaRee may reusonably require, shall be isaued by s~ com~uiny or i•om{k~nics approved by Mortgagee, and sh.~ll coM~~in a standard morlgagee cI:lU3P N1~~1 I0.~ {h7yS1hI@ ~O MOI'lRagre. When- ever nquired by Mortgager, such ~~oli~•i~~, shall tx deli~~emd imm~di:+tely to and hetd by Mortgagcr~. Any :md all ~mounts rc~rived by Morigagee under any o( such ~iolicies may tx ap{di~~l by Mortgagee on lhe indebtedne~s se~•urcd hemby in su~•h munner :-s Atortg.igee m:~y, in its sole discmtion, elect or, ~t the option of MortgaRee, lhe enlire .imount so rc~crived or noy ~k~rl lhereoi may he released. Neither the a~~~~lication nor the release ot any such a~mounts shall cure or w~ive nny detault. U~~on e:ercise ot the ~~ower ot s:de ~iven in Ihis Mortgage or other a~~quisition ot the MorigaKed Pro~~erty or :my ~~.~rt lhere- of by MoreRa~ee, such ~~olicies shall t~~ome the al~eolute property ot I~4orlguKee. 6. To tirst oM.iin Ihe written consent of MortRugee, such ~~ons~nt to t-e grantrd or withheld :~l the sole discretiun ot Mortgagee, before la) removing or demolishing nny huilding now or hereafter enr•tEr! on the premises. Ibl alterinR the :~rr.~ngement, design or stn~ctural charncter thereof, (c) makinR any re~~airs which involve ihe removal ot structural ~~:~rts or the exNosure of the interior ot such building to the elements, ld) cutting or removing or ~mnnitting the cutting and re- mo~•al o( :~ny trees or timber on the MortgaRed Pro~~erty, le) removing or exchanging :~ny tangible ~~ersorwl pro~~erty which is ~k~rl of lhe MoHg:~Red Pro~~r~y, or (() ~ntering into or modifyinR any le.~ses ot the MortR:~Red Ym~-ertv- ?. To ma~intain the MortR~ged Pro~~erty in Rood condition and m~wir, including 1-ut not limited to the m:iking ot such re~k~irs .~s MoriRaKee may Irom time to time determine to he necesw~ry tor the prexen:di~n ot the MoHgaged Property and to not commit or ~~ermil any waste thereof. 8. To comply with ~II laws, ordin:~m•es, n•gulations. ~•ov~nanls. ~•.~ndilion~ :~nd mstri~•tions af(e~-tinR the MortRaRc~! Yro~ierly, and not to suf(er or ~~ermit :my viol:dion themof. 9. It Mortgagor tails lo ~x~y any ~•L•~im, lien or enc•umbr.~mr whii•h is su~~erior ia this D1ortK:~~e, or w~hen due, any lax or assesgment or insuranm premium, or to keep the Alortgaged Ymperty in re~-ai~, or ~h:~ll ~~ommit or ~-ermit v~~aste, or it there he commenced any aclion or proi~eeding affec•tinR lhe hlortqaged Property or the tille thereto, or lhe inlerest ot MortRagee therein, includinR, but not limited to, eminent domam and h:~nkruptcy or reorganization proceedings, then Mortgagee, :it its option, may ~u~y said claim, lien, en~•umhrance, ta:, assessmeM or premium, with right o( submgation lhereunder, may make sui•h rr~~airs and take sui•h ste{is as it deems adris:~t-le to pmvent or cure such waste, and may appear in any such action or proe•eeding and retain ~~unse) lherein, and take su~•h :~clion therein as Mortgagee drems ad- visable, and for any of sach pur~x~ses Mortg:~gee may ad~•ance such sums ot money, includinq all cwts, reasunable attorney's (ees and other items ot e:~~ense as it deems ne~•ess:~ry. A1ortRagee sh~ill be the sole judge of the legality, validity and priorily of any such ~•laim, lien, encumbr.ince, lax, asses.~ment and premium and of lhe amount necessary to be {k~id in satisfaciion thereof. Mortg:~gee sh:~ll not I~e held a~rountablF A~r :~ny drlay in m:~king anv such ~xiyment, whi~-h drlay may result in any additional intemst, i-oxts, charRes, ex~-enses c~t otherwise. 10. MortgaRor wiU pay to MortRagee~, immc~iately and without dem:ind. :ill sum.4 ot money advan~•c~ hy Mortg:~Ree to protecl the security herc~~f pursuant to lhis 11'IortRage, including all costs, reawnable atlorney's fees and other items o( ex~~ense, together w~ith interest on each such advancement at the hiRhest law(~:I rate of interest per annum in the State o( Florida, and all sui•h sumc and interest th~rcrn shall be setvred hereby. 11. All sums of money se~•ured hPrehy sh:Jl IM ~-:~yable without any mlirt whatever trom any ~•aluation ~~r appr.+iu~- ment I:iwK. 12. 1( default 1-e m:~de in payment ~-f :~ny inst.ilment o( prini•i~Hd or interest ot the Note or any ~~rt lhereo( when due, or in ~~:iyment, when due, or any other sum Scrured hereby, or in {~rformance of any of Aiortgaqor's obligations, coven- a~ts or .iRreements hereunder, all o( the indebtedness sec•ured hereby shall Ix~a•ome and i-e immedialely due and payable at lhe option of Mort~agee, wilhout noli~-e or demand whii•h are hereby exprex~ly waived, in which e~•ent MortgaRee may a~•ail itsel( of all riRhts and mmecfies, at law or in equity, and this MorlQaRe may t-e foreclosed with all rights and remedies :~(lorded by the laws ot Florida and Morlg.+gor shall pay all c•osts, c•harges and Px~~en.ses thereo(, including a reasonable altorney's (ee, including all such custs, expensc~ and attorney's fec~ for :iny retrial, rehearing or appeals. The indehtednesg secured hereby shall t-ear intercwl al the highest law(ul rate ot interest ~~er annum in the State o( Florida (rom .~nd a(ter the date of any such default of Mortgagor. It lhe Note provides tor instalment ~-:wyments, the Mortg:~Ree may. at its option, collect a late charge not to exceed two cents (or each one dollar not paid to the A1ortRaRee K•hen doe, to mimburse the 111oriqagee tor ex~~enses in ~rolle~-ting and servicing such instalment p:ryn~enLs l3. If default be made in payment, when due, of any indebledncws sec•ured hercl-y, or in ~~er(ormani•e of any of MortgaRor's obliRations, ~~ovenants or aRreemenl hereunder: (a) MortRaQc~e is :~ulhorized at am time, without notic•e, in its sole disc'retion to enter u~wn and take ~w~scssion ot the hlortgaQed Yroperty or any part thereo(, to ~~ertorm ~ny acts h1ortRagee deems neress:+ry or pro~~er to i~onsen~e the security and to collerf and re~rive nll rents, issucw and pro(it4 thereo(, includ~ng those past due as v-el1 as lhose accruing thereatler, and Ib- 111ortRaRee shall 1-e entitled, as a matter ~~f strict riqhl, without nolice and exparte, and without reKard to the value or aru~k~ncy o( the security, or the soh•en~~v oi 111ortgaRor, or the adequacy ot the Mortqaged Properly as security (or the Note, to have a recei~~er ap~~ointed b enter u~~on and take ~ws.ges.gion oF the Mortqagecl Pro~ierty, collecl the rents and profits lhere(rom and apply the w~me as the ~~ourt m:~y dir~t, such receiver to have all the riRhtn ancl ~x~wers permitted under the laws o( F lorida. In either su~•h case, MortKagee or the receiver may also take ~x-ssc~ion of, and tor these purposes use, any and all ~ierw~n:il pm~~erty whi~•h is a{rart oi lhe MorigaRecl Yro~~erty and used by Morlgaqor in lhe renta) or leasing thereof or :~ny ~~rt thereof. The ex~~ense (including rec-eiver's fees. c~wnsel fees, costs and aqent's compensation) incurred pursuant to the powers herein rnntained shall be secured herehy. l~tottqaRee shall latter payment ot all coats and e:penaea incurred) ~2 g!-~K~`t~ Paf,E~~~6 ~ ~ ~, ~:~ _ .. ~.-. _ ~ _ ::~ ::~~ .