HomeMy WebLinkAbout1638uiY•uuM tu {aiy aurh ~•ha~g~x when due shall 1~ paid by !1lurtguKor tu Mortgugee on dem:~nd. I1, by n;~w,n ol uny defuull
by MoHgagor under :~ny prorision o( this htortguge, 111otigt~g~ti declures ull sums ~ured hemby to he due and {xiynble,
hlartg~~Rce muy Ihen t~~iply any lunds in said ai•~•ount uga~inst thc i~ntire indehtedness sec•umd hemhy. The entorc~ubility o!
the covenu~ta relating to faxes, asscavments nnd insun~nrn premium~ herein othenviae poo~•idcK1 r+hal) not he uttec•ted eYrep!
insott~r Aa Ihoee oblignlions h~ve heen met by ~•ompliun~~e with Ihis {-nrngrnph. 111artgagee muy (rom fime lo time at ite
option waive, nnd ntter any such wni~•e~ reinst:Ue, any ur ull pro~•isions hereot requiring such dep~sits, hy notice to
Mortgugor io writing. While uny such w:~i~•er is in c!(ect, 111ortRngor shnll {u~y luxea, assex~mr~ts nnd insurnnce pmmiums
us herein elsewhere provided.
4. To prompNy ~wy all t~:es a~~d :-ss~:c.vments as~eAaec) or levied under nnd bv virlue ol .iny stute, ledernl, or munici~ud
I~w or ergulnlion hereafter passed, agiiinyi MorlKa~gee u{~on Ihis MoHgage or the debt hereby acr•ured, or u{wn its intereal
under this Mortgage, provided however, that the_tolt~l nmount so {~id (or any such t:ixes pur~uant to this ~u~n~Ktaph togefh-
er with the inlerest paynble on sAid indebtedness shall not exceed !he highesl lawful rate ot intereat in Floridt~ and provided
further thut in the event of ihe ~ge ot nny such laiw or rcgulation im~wsinR a tax or :~sseaqment :~gainsl MortRagee up-
on this Moriguqe or lhe debt secured heret-y, Ihat the entire indehtedneas ~•ur~l 1-y lhis A1oHguge shall Ihereu~Mn I,e-
c•ome immedialely due and pnyuhle at the oplion of vlortgugcr.
5. To keep the Mortguged Pro~~erty insured sigainst loss or dam:ige by fire, and aU ~~erils insured agains/ try an ex-
tended cov,erage endorsement, und such other ~isks :ind ~~erils au MortgaRee in its diw•rntion m:iy require. The ~~olicy or
~wlicies o[ such insurs~n~r shaill be in lhe form in gener~l use (rom time lo time in the locality in which the Mortgaged
Property ia aituated, shall be in such nmount as I~torlg.+gee muy reasonably requirn, shall be issued by a com~wny or
companies approved by Morigagee, and ahall contnin a standard mortgagee clause with loss payable to Mortgagee_ When-
ever required by Morigagee, such policies, shall i-e delivered immediately to and held by Mortgagee. Any and all amounts
received by Mortgagee under any of such ~wlicies may be applied by MortgaRee on the indebtedness secured hereby in such
manner as Mortgagee muy, in its sole discretion, elec•t or, al lhe option ot Mortg~gee, the entire amount so reseived or nny
Ex-rt lhereof may be released. Neither the ap~~licalion nor lhe release o[ any such amounts shatl cure or wai~~e ~ny default.
Upon e:errise o( lhe power ot sale given in this Mortgage or other aequisition o( the Mortgnged Pro{-eHy or any part there-
ot by Morigagee, such ~wlicies shall become the ~heolute property ot MortgaRee.
6. To first obts~in the written consent of Mortg:~gee, sueh consent to I~e granled or withheld :+t the sole discretion ot
Mortgugee; before (~) mmoving or demolishing any t~uilding now or hema(ter erected on the premises, (b) altering the
arrangement, design or slructural character thereof,-~c) muking s~ny repairs which involve the removal ot structural parts
or the e:posure o( the interior o( such building to the elements, (d) cutting or removing or permitting the cutling and re-
moval ot any trees or timber on the Mortgaged Pm~~erty, (e) removing or e:changing any tangible ~~ersonal pro~~erty which
is part of the Mortgaged Property, or (() entering into or modifying :~ny le:~ses of the Mortgaged Pro~~erty.
?. To maintain the Mortg:iged Property in good condition and rnpair, including but not limited to the making of such
re~k~irs .ts Mortgagee may Irom time to time defermine to be nec~esgary for the prc~ervation of the I~1ortRaged Pro~~erty and
lo not commit or permit any waste thereof.
8. To comply with all laws, ordinanees, regulations, ~roven~+nts, ~•onditions and mslrictions atfe~•ting the Alortgaged
Property, ~nd not to su(fer or {~ermit any ~~olatic~n thereof_ ~
9. If Mortgagor fails to ~y any cl.iim, lien or encumbranrn which is su~-erior to this Mortgage, or wherrdue, any tax
or :~,ssessment or insur~nce premium, or to keep the Mortgaged Property in repair, or ahall commit or permit waste, or it
there he commenced any action or prareding a(fecting the Mortgaged Property or the tiQe thareto, or the interest of
Mortgagee therein, including, but nol limiled to, eminent domain and t-ankruplcy or reorganization proceedings, then
MortgAgee, at its option, may p:~y said ctaim, lien, enc•uml~ran~•e, ta:, ~-s.sesament or premium, with right ot subrogation
thereunder, may make such rrpairs ~nd lake such steps as it deems advisable to prevent or cure such waste, and may
appear in any such action or proceeding and retain counsel therein, and take such action therein as MortRagee deems ad '
visable, and for any of such purposes MortRagee may advan~~e such sums of money, includinq all costs, reasonable attorney's
fees and other items ot expense as it deems necessary. 111ortgaRee shall F~e the sole judge of the legality, validity and priority
of any such claim, lien, encumbrance, tax, as~essment and premium and of the amount necessary to F-e paid in satis(action
thereof. Mortgagee shall not be held accountable for any delay in m:ikinR ~ny such ~~yment, which delay may rwsult in
any additionai interest, costs, charQes, ex~~enses or otherwise_
I0. Mortgagor wi11 p:iy to Mortgagee, immediately and v-ithout demand, all sums of money ad~•:~n~•ed by Murtgagee
to proteet the security hereof pursuant to this Mortgage, including all c•osts, re:~sonable :~ttorney's tees and other items of
expense, logether with inleresl on e:~ch such ~dvancement al the highest law•ful rate o( interrst ~~er annum in the State o(
Florida, and al) such sumv and interest thereon shall 1-e sei•ured hereby.
il. All sums of money sei•ureci hereby sh~ll I~e ~~:ry:~hlP without any rclie•( wh:~te~•er tmm am~ ~:iluation or a~ipnise-
ment laws_
12. It detault tw made in paymenl of any instalment of pridci~~:~l or irtterest of the Note or any part thereof. when
due, or in payment, when due, or any other sum secured hereby, or in ~-ertorman~c: o( any of 111ortRagor's obligations, coven-
ants or agreements hereunder, all of the indebledness secured hereby shall become ~nd t~e immediately due and payable at the
option of MortRaRee, without notic-e or demand which are hereby expres4ly vyaived, in w~hich errn! Mortgagee may a~•:~il itsel(
o( all rights and remedies, at law or in equity, :~nd this Mortgage may lx (oreclosed with all rights and remedies afforded by
the laws of Florida and MortR~Ror shall pay all costs, charges and expen.ses thereo(, includinR a reasc~nable attorney's fee,
including all such costs, ex~~enses and attorney's (ees for :~ny retrial, rehe.~ring or appe~ls. The indebtedness secured hereby
shall bear interest :~t the hiRhest law(ul rate of interest ~~er annum in the State of Florida from ~nd atter the date of any
xuch de(ault ot A1ortQagor. I( the Note provides tor instalment ~iyments, the l~iortgagee may, at its option, collect a late
eh:irge not to e:ceed two cents for eai~h one do0~r not ~u~id to the :~1orf~aRee when due, to reimburse the 1ltortRaRee for
expenses in collectinR and servicinR such insl:~lment paymenfs_
13. I( default F-e m:~de in ~kiyment, w~hen due, o( any indebtc~lness se~-ured hereb_y, or in ~~er(ormance ot any o(
MoriRaKor's obligations, ~~ovenants or aRreement hereunder:
la- MortgaRee is authorized at any time, without notic•e, in its sole discretion fo enter u~x~n and lake {x-ssession of
the Mortgageci Property or any part thereo(, to ~~er.orm any acts Atortgaqee deems nec•essary or proper to conserve the
security and to colleet and rec-ei~•e all rents, issues :~nd pro(its thenrof, including fhose past due as well as those aecruing
therea(ter: and
Ib) Mortgagee shall Ix entitleci, as a matter of strict right, without notice and ex~k-~rte, and without regard to the
value or occupancy o( the secvrity, or the solvency o( A'Iortg:~gor, or the adequacy of fhe Mortgaged Pro~~erty as security tor
the Note, lo have a receiver appointed to enler upon and take {~ossession of the Mortgaged Property, collect the rents and
profits therefrom and apply the same ~s the court may dirw•t, such receiver to have all the rights and ~~owers permitted
under the laws ot E lorida.
In eilher such case, Mortgagee or the receiver m~y also take ~-osses.gion o(, and (or these purEx~ses use, any and all
personal property whirh is a part o( the Mortgaged Pro~~eHy and used by Mort~~gor in the rental or leasing thereof or
any part thereof. The expense lincluding recei~~er's fc~es, counsel (ees, cosfa and agent's compensalion) incurred pursuant
to the powera herein confained ahall be secured hernby_ A1ortRaRee shall (a(ter ~yment of all coste and expen.es incurred)
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