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HomeMy WebLinkAbout19424. Ta p~umpUy pay all taxcs ;ukl us.cssmrnts assrssed or levied under xmi by virtuc of any state, foderal, ot muniapa! !aw ot re6ulation heceaflar passed. against Mortgagee upan this Mu~tg:~e or the debt heraby saured, or upon its intetest under this Mo~tgage. providod however. that Ihe total amuunt so paid for any such taxes pu~swnt to this puagnph together with thc inte~est payable on uid indebtedness shaU not exceat tAe highest tawful nte of interest in Florida a~xl prorided further that in the event of the passage of any such law ot tegulation im a ~ax or assessment against Mortgagce upon this Mortgage or the debt secured hereby. that t~e entire indebtedness secured by this Mortgage~ thereupon become immediately due and payabk at the option of !-lortgagee. 5. To krep the Mortgaged Property insured against loss or damage by Pue. and aU perils insurod against by an exteadod covenge endorso- me~t, and such other «sks and perik u Mo~tgagee in its discretion may require. The po6cy or po6cios of such insunnce shall be in the [orm in general use from time to time in the locality in which the Mortgaged Ptoperty is sitwtod, shaU be in such amount as Mortgasee may reasonablY requue, shall be issued by a company or companies approved by Mortgagee, and shail rnntaia a standud morigagee clause with bss payabk to Nortgagee. Whenever ~oquired by Mortgaga, such policies, shall be detirerod immodiately to and held by Mortaagee. Any and all amounts teceived by MortgaEee under any of such poGcies may be appiiod by Mortgagee on the indebtednas secured hercby in such manner as INortgaaee may, in its sok diccretion, ekct or, at the oplion of Mortgagee, the entirc amount so teceived or any put the~eof may be released. Neither the application nor the alease of any such amounts shall cure or waive any default. Upon exerase of the power of sak given in this Mortgage or other aoquisition o( the Mortgaged Prope~ty or any part thereof by Mortgagee, such poticies shall become the absolute propetty o[ Mortgagee. 6. To fint obtain the w~ritten consent of \fortgagee. such consent to be granted or withheld at the sok discretion of Moetgagee, befon (a) removing or demulishing any building now or hereafter erectod on the premises, (b) altering the arrangement, design or structural chuacter thereot Ic) making any repairs which invoive the removal of structural puts or the exposute of the interior of such buiiding to the elemeats, (d) cutting or removing or permitting the cutting and removal of ariy trees or timber on the Moitgaged Property. (e) remoring or exchangiag any tansbk personaf property whkh is part of the Morigagcd Property, /n cntering into or modifyiag any kases of the Mortgaged Ptoperty or (pJ join in or ronsent to any change in zoning of the Mortgaged Property. ~ ~. To maintain the Mortgaged Property in good condition and repair, including but not limited to the making of such repairs u Mottgagee may from ~ime to time determine to be necessary for the preservation of the Mortgaged Property and to not commit or permit any waste thereof: and \fort~tagee shall have lhe right to inspect the Mortgaged Property o~ reasonabk notice to Mortgagor. 8. To comply with all laws, urdinances, regulations, covenants, eonditions and restrictions af'Fecting the Mortgagod Property, and not to rause or pe~mit any violation thereof. 9. If Nortgagor fails to pay any ciaim, lien or encumbtance which is ~uperior to this Mortgage, or when due, any tax or assessment or insurance pcemium, or to keep the Mortgagod Property in repair, or shall commit or permit wute, or if there be commenoed any action or pro- rerding affecting the Mortg~ged Prop~rty or the titk thereto. or the interest of Mortgagee therein, including, but not limitod to, eminent domain and bankruptcy or rcorganization procesdings, then Mortgagee, at its opti~a, may pay said claim, lien, encumbrance, tax, assessment or premium. x•ith right of subrogation thereunder, may make such npain and take such steps as it dams adviubk to ptevent or cure such wute, and may appear in any such action or prcx~eeding and retain munsel therein, and take such action iherein as Mortgagee deems advisabk, and fot any o[ such purposes Mo~tgagee may advance such sums of money, including all costs, tczx~nabk attorney's foes and other items ot expense u it dcems nec- essary. Mortgagee shall be the wle judge of the legality. ralidity and priority of any such claim, lien, encumbrana, tax a~.tessment and premium .u~d of the amount necessuy to be paid in sati~faction lheteoL Mortgagee shaU not be held xcountabk for any delay in making any sucli payment, which delay may result in any additiona! interest, costs, charges, expenses or othenvise_ 10. Mortgagur wiU pay to Mortgagee, immaliately and without demand, all sums of money advanced by Mortgagee to protect the secutity hereof punuant to this Mortgage, including all costs, rcuonabk attorney's fees and other items oC expense, together with interest on each such advancement at the highest lawful rate of interest per annum allowed by the law of the State of Florida, and all such sums and interest thereon shall be secured hereby. 11. All sums uf money securcd hereby shal! be payable w~thout any relief whaterer from any valuation or appraitement laws_ 12. If default be made in payment of any instalment of principal or interest of the Note or any put theteof when due, or in payment, w-hen due, or any other sum secured hereby, or in performaace of any of Mortgagoi s obligations, covenu~ts or agrcements hereunder, all of the indebtedness secured hereby shall become and be immedutely dua and payabk. at the option of Mortgagee. without notioe or demand which are hereby expressly waived, in whkh event Morigagee may awail itself of all rights and remedies, at law or in equity, and this Mortgage may be foto- dosed with all rights and remedies afforded by the laws of Florida and Mo~tgagor shall pay all costs, chu6es wd expenses tlxseof, including a reasonabk attorney's fee, including all such costs, expenscs and attorney's fees for any rotrial, rehearing or appeals. The ind~btedness secured hereby shall bear interest at the highest lawful nte of intecest per annum allowed by the taw of the Statc of Florida ftom and after the date of any cuch default of Mortgagor. If the Note provides for instalment payments, the Mortgagee may, at its option, coUect a late chuge as may be pro- vided for in the Note, to reimburse the Mortgagee for eapenses in colkcting and servicing such inst~lment payments. { 3. If default be mede in payment, when due, ot any indebtedness secured hrreby, or in perfomunce of any of Mortgagor's obtigations. corenants or agreement hereunder: _ (a) Mortgagee is authorized at any time with notice, in its sok discretion to enter upon and take poneuion of ihe Mortgagod Property or any part thereoi, to perform any acts Mortga~ee deems necessuy or proper to consern the ucurity and to collect and receive a!! sents, iuues and profits thereof, including those put due as well at those accruing thereafter; and (b) [-lortgagee shall be entitkd, as a matter of sirict right, without notice and exparte, and without regard to the value or occupancy of the sewrity, or ths sotvency of Mortgagor, or the adequacy of the Mortgaged Property u security for the Note, tb have a reoeiver appointed to enter upon and take posxssion of the Mortgaged Property, co0ect the rents and profits therefrom and apply the same as the court may d'uect, wch receiver_ to have all the rights and powers permitted under the laws of Florida. In either such case, Mortgagee or the receiver may atso take possession of, and for these purposes use, any and all personal property which is a part of the Mortgaged Property and usvd by Mortgagor in the rental or kuing thereof or any put thereoC The expense (including receiver's fees, rnunsel fees, costs and agent's compensation) incu~rod pursuant to the powen herein canttined shall be secured heceby. Atortgagee shall latter payment o[ all costs and expenses incurred) apply such rents, issues and pro5ts received by it on the indebtedness socured hereby in wch order as Mortgagee determines. The right to enter and take possession of the Mortgaged Property, to manage and operate the same, and to collect the rcnts, iswes and profits lhereoF, whether by a receiver or otherwise, shall be cumulative to any other right ot remedy heteunder or affordod by law, and may be exercised concurcently therewith or independenUy thereof. Mortgagee shall be liabk to account only for sach nnts~ issues ud pro5ts'actually receivod by Mortgagee. 14. If the indebtedness secured hereby is now or hereafter further secured by chattel mortgages, security interests, financing statements, pledges, contracts of guuanty, assignments of kues, or other securities, or it the Mortgaged Property hereby encumbered conaists of more than one pucel of reat property, Moitgagee may at i[s option exhaust any one or more of said securities and security hereunder, or wch puceb of the security hereunder. eithet concumndy ot independentty. and in such order as it may determine. I5. This Mottgage shaU secure not only existing ind~btedness, but also such future adranas, whether such advances are obligatory or to be made at the option of bfortgagee, or otherwice, u ue made within twenty (20) years ftom the date hereof, to the same eatent u if such futute advances were made on the date of the execution of this Mortgage. but such secured indebtedness shall not exceed at any time the maximum ~o~x 3~0 ~act 1~~ -~- T