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HomeMy WebLinkAbout10734. Tu promptly pay aU ta~rs arxl :w~~s.menta assras~yl or levird urnlot arnl by virtue of sny statc, faieral, ur municipal law or tegu4tion he~r•rlter pssx~d, ay,r~nst Mortg;.gee upun Ihis Martg;~r or thr debt hereby socured, or upon its interest undet this Mo~tgage. provided howevet, ~hat the total amounl so p:ud for any such taties pursuant to this puagnph together with the inte~GC1 payabk on said imlebtedneu shsU not exceed the highrst lawful rate uf intcrest in 1'lorida and p~ovided further that in the event of the passage of any such law or regutation imposu~g 3 tax or assessmenl against Mortgagtc upon this Mottgage or the debt secured heteby, that the entire indcbtednas sa:ured by this Mortaaae shaU thereupon become imm~iiately due and payabk at the optio~ of Mortgagee. 5 To keep Ihe Mortgaged Property insurod against luss or damage by fue, and all periks insuted against by an extended covetage endorse ment, arnl such otMer risks and perils as Moitg~ee in its diurotion may require. The {+olicy or policies oi such insuraace shall be in the form in general use from time to time in 1he loca6ty in which the Mo~tga~ted Ptoperty is sitwted, shaU be in s~u:h amount u Motigagee may rcuonably rrquire, shall be issued by a company or companies approved by Mortgagee, and shall contain a standud mortgaaee clause wilh bss payabk to ~tort~ee. Whenever required by MortR:~ce, such {wlicies, shaU be detiverod immediately to and held by Mottgagee. Any and aU amounts raeived by Mortga~ee under eny of surh poGcies may be applied by Mortgagee on the indebtedness secuted hereby in such manner u Moriaaga may, in ~u wle discretion, elect or, at the option Af Mortg:~ee, the entire :unount so received or any part theteof may be tekased. Neither the appGation nur the releau of any such amounts shall cute or waire :u~Y default. Upon exercise of the power of sak 6iven in this Mortgage or other aoquisition of the Afort~ced Property or any patt thercof by Mottgagee, such {wticies shaU become the absolute ptopetty of Mortgagea 6. To fint obtain ~he w•ritten consent of Mortgagre, such cor-sent to be granted or withheW at the sok discretiun of Mortgagee, before (a) removing or demulishing any buildin~e now or hereafter erected on the premises, (b) aitzring the urangement, design or structural character thereot, Ir) rnaking any repairs which involve the removal of structunl puts or the exposure of the interior of such buildi~ to the ekmeats, (d) cutting ur rcmoving or permitting the cutting and removal of any trees or timber on the MoitgaEed Property, (e) removing or exchanging any tan8bk Exrson;-1 propcrty which is part of the Mortgagrd Property, 1~ bntcting into or modifying any kases of the Moitgaged Property or (a)join in or ronsent to any change in zoning of the Mortgaged Property. 7. To m•rintain thr Nortgagrd Property in gix~d cu~xiiuon and rrp;tir, inciuding buC not Gmited to the making of such tepairs u Mortg,agce m~y frum time to time de~ermine to be necessary for thr preservation of the AlortgaZted Property and to not commit or permit any waste thereof; and 1lfortg:~er shall harr thr right to inspect the Alotigaged Propetty on roasonable notice to Mortgagot. 8. To romply with all laws, oniin-rn.-es, regulauons, covenants, coixlitions and restricuons atTecting the Mortgaged Property, and not to rause or permit any viulation thereoL 9. If Mortgago~ fails to pay any rlaim, lien or em;umbrance whi~:h is superior to this Mortgage, or when due, any tax or assessment or ~n~urance prrmium, or to kcep the Nortgaged Pruperty in repair, or shall commit ar permit wute, or it there be commencod any action or pro- reeding affecting the Mortgaiged Property or the titk thereto, or the interest of Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization p~oceedings, then Mortgagee, at its option, may pay said claim, lien, rncumbrance, tax, assesunent ot prcmium, with right of subrogation thereunder, may make such npairs and take such steps u it deems adrisabk to prevent or cure such wute, and may apprar in any such actiun ur prixeeding and retiin counsel therein, and take such action thercin as Mortgagee dcems advisabk, and for my of such purposes Nortgagee m~)• advance such sums of money, including all costs, reatonabk attorney's fces and other items of expense u it dcems nec- essary. ~fortgagee shall be the sole judge of the legality, ralidity and prjority o[ any such cltim, lien, encumbrance, tax assessment and premium arni of the am~wnt necessary to be paid in satisfaction theteot. Mottgagee shall not be held accountable for any delay in making any such payment, which delay may rrsult in any additional interest, costs, chuges, expenses or otherwise. 10. Mortga~ur NiU pay to ~fort~gee, ~mme~iiately and without demand, aU sums of money advanced by Mortgagce to protect the secutity hereof pursuant to this Mortgage, including all costs, reawnabk attorney's Cees and other items of expense, together with inte~est on uch such advancement at the hi~hcst lav-•ful rate of interest pe~ annum allowed by the law of ihe State ot' Florida, and all such sums and intetest thereon chall be secured hereby. ! l. All iums of money se.:ured hercby sFwll be payabk w~thout any relief whateret (rom any valuauon or apptai~ement laws_ 12. If default bc macir in Payment of any ~nstalment of principal or interest of the Note or any put iheteof when due, or ia payment, when due, or any oiher sum secured hereby, ur in performance of any of Mortgagoi s ubligaUons, covenants or agreemeats hercundet, all ot the irsdebtedness secured hereby shall becume and be immediately due and payable at the option of Mortgagee, without notice or demand which ue hereby expressly waived, v- wh~ch event NortgaRee may avail itself o[ all rights and remedies, at law or in oquity, and this Mortgage may be tore closed with all rights and remedies afforded by the laws oi 1=lorida and Mortgagor shaU pay all costs, char6es and expenses ihereof, including a rca~unabk attorney's fee, including all such costs, expetues and aUomey's fees fot any tetrial, tehqting or appealt. The indebtedaess secured hereby shall bear interest at thc h~ghest lawful rate of interest per annum allov-ed by the lavv of the State of Florida from and afier the date of any wch default of ~tort~agor. If the Note provides for instalment payments, the Mortgagee may, at its option, colkct r late cturge u may be pro- v~ded for in the Note, to reimburce the Mortgagce for expenses in colkcting and servicing such instalment paymenti 13. If default be mxie ~n payment, when due, of any indebtedness secured hereby, ot in performance of any of Mortgagor's obGgations, corenants or agreement hereunder. (a) Mortgagee u authorized at any time with notice, in its sok discreUon to enter upon and talce posseuion of the Mortgaged Property ur any part thereof, to perform any acts Mortgagee deems necessary or proper to conserve the security and to collect and receive all renu, issues rnd profits thereof, including those past due as weU as those acctuing thereafter, and ` (b) Mortgagee shall be entitkd, as a mattet ot strict right, without notice and exparte, and without regud to the value ot occupancy of the xcurity, or the solvency of Mortgagor, or the adeqwcy of the Mortgaged Property u security for the Note, to have a receiver appointed to enter upon and take possession of the Mortgaged Property, collect the rents and profits thercfrom and apply the same u the court may d'uect, such receiret to have all the rights and powers permittcd under the laws of Florida. In either such cue. Mortgagee or the ceceiver may aLso take possession of, and for these pwposes use, any and a11 personal property which is a Qart of the Mortgaged Ptoperty and used by Morigagor in the tental or kuing thereof or ~ny part theteof. The expense finclud'uig teceivei s fees, counsel fees, costs and agent's compensation- inwrred punuant to the powen huein conttined shall be ucured hereby. Mortgagee stull lafter payment o( all costs and expenses incutred) apply such rents, issues and profits rea"wed by it on the indebtcdness secured hercby in such order as Mo~tgagee determines. The tigh[ to entet and take posscssion of the Mortgaged Ptoperty, to manage and operate the same, and to collect the rents, issues and profits thereof, whether by a receiver or otherwise, shall be cumulative to any other right or cemedy hereunder or afforded by taw, and may be exercised concurrently therewrth or ~ndependently thereof Mortgagee shall be liabk to account only fot such tents, issues and profits actually received by Mortgagee. 14. If the indebtedness secuted hereby is now or hereafter furthet secured by chattel mortgages, security intetests, financing statements, pledges, contncts of guaranty, assignments of kases, ot other securiues, ot if the Morigaged Properly hereby encumberod consists of more ttun one parcel of real propeity, Mortgagee may at its option exhaust any one or more of ~tid securities and security hereunder, or wch pucels of the security hereunder, either concurrently or independently, and in such order u it may determina ~ I5. This Mortgage shall serure not only existing iadebtodneu, bW aL+o such future advances, whether such advaaces are c~bligatory or to be ~`, made at the option of Mortg~gee, or otherwise, u are madc within twenty (20) years from the date hereot, to tl~e same extent u if such future ; ~ advances were made on the date of the execution of this Mortgage. but such secured indebtedness shal! not exceed at any Sime the muimum i cI . ~.~;K3~7 p~~,f10?'p . ~ ~~ -z- - - ~ - ~ ._~ . ._ . ~. . _ ~ _ ~ ~ ~ -- ~