HomeMy WebLinkAbout1227a.tivunt tu {k~y su~•h .•IuuR~~s when due sh:~l1 I,e ~~:~id I-y I1lortgako~ to I~iu~tg:~ger un demu~id. I(, by n.~xun ot :~ny defuull
by Mortg;~gor under :+ny pro~•ision ot lhis A1urlgugr, 111ortgugee declan.~s ull auma s~•urecl hereby to Ire due :~nd ~-uy:~ble,
Alorigugee miy then apply a~ny funds in suid :nY~ount agaiiosst lhe entire indei-icdneas ~a~•und 6c•rehy. 7'he en(on•~:~bility o(
the ~~ove~:-ntx telating to taxes, xsveysments und insurun~r premiums herrin otherwi,+e pm~•ided xhull nut i~e u((ected ex~rpt
insotar as thoee obligalions lwve been met by compliance with thia {wrugruph. Mortgugee m:iy trom time to time ut ils
uption wai~r, und a[te~ nny su~•h w.~iver reinstsite, any or :dl proviaiona hereo( nryuiring such de~x~itx, hy noti~ti to
Mortgagor in writing. While :~ny surh waiver is in ettecl, Mortgagor shaii ~wy tuxex, asve~menln t~nd insun-nce premiums
:~s herein elsewhere provided.
4. To promplty puy ail ta:rs and .ass~~xmtwts as~e:s~uxf or 1rvi~Y1 unde~ :~nd 1!v virtue ~I uny stute, I~~ler.+l, o~ munici{kd
l:~w or regulation here.~fter ~wssed, against Morigagee u{~on this Mottge~~e or Ihe debt hen~by scr•un^c1, or u~Kin its interrs/
under this i-iortgage, pro~~ided huwever, thvt the totul z~mounl so {wid [or :~ny xuch t.~z~~ pursuant to this ~x~r.~graph togrth-
er with the i~terrst {-:-yable on said indebtedn~ys sh:~ll nut excred the highE~st law•fu! r.ite ot intemst in Fiuridu :~nd provide~cl
(uriher that in the e~rnt of the {~:iss:~ge o( any such law or regulutiun im{wsinR a lax or ussessmenl aga~nsl 1~lortguK~r up-
on this rtorlgaRe o~ lhe deM secumd hernby, that !he entin: indebtedm~ ~ccr•und hy lhix MortR:~Re shall Ih~n•u~w~n t~e-
rome immcdiately due and payable at Ihe option of Mongagee.
5. To keep the 1~lortgaged Properiy insured against los~ or damage by fim, and all perils in~urc~l .~guinst by an ex-
trnded cover.-ge endorsement, and such othe~ risks .~nd ~~eril§ as Mortguge•e in ita discretion muy require. The policy or
j~otiries ot such insurani~e shull be in the lorm in Keneral use trom time to time in th~ loci+lity in whii•h the A1ortK:~Ked
YroE~erly is sitwUed, s1w1) be in such :~mount as lllortgaRc~e may re:~.+on:ibly mquirn, shnll t~ is.4uec1 by a~~om~x~ny or
comp:inies appro.•ed by MortgaKee, and xhull contain a stand:~rd mortgagc~ ctause with toss ~k+y.+ble to l1lortRagee. When-
ever requimd hy !-tortg.~gee, su~•h {~oli~•ies, shal) !ie delivered immediately to and held 6y A4ortgagee. Any and :dl nmounts
recriced by tlfoHgagee under :iny ot such ~wlicic~ may 1~e :~{~plied t-y rlorfgagee on the indebtcdnc.v u~vm~l hereby in such
manner as ~iortgaRee m.~y, in its sole discrelion, elect or, at the option of Mortg:~gee, the ~~ntire amount so mcri~•ed or any
~kut thernof may t-e rNleased. Neither the applicalion nor the release of any such amounts sh:d! cure or w•aive any det:wlt.
IJpon e:ercise o! the ~wwer o( sale gi~•en in this Mortgage or other ncquisition ot th~ MorIRaQ~d Pro~~erty or any part them-
of bv 1~lortgagee, ~uch ~wli~•irv shall heeome the ahsolute property ot MorigaRee.
G. To tirst obtain the written i-onsent ot 1lioriKaigee, sai•h ~•unx~nt to I~e Krahtcd or withhelcl :d the xule discmtiu~ ol
~torlRagee, betore lal removinR or demolishing .~ny buildinq now or hereatte~ erE~•led on the premises, (b) atterinR ihe
:~rr.ingement, design or structural character thereof, (c) making any repairs which im'olre the removnl o( structural jx~rts
or the e:poaure of the interior of su~•h buitding to the elemenls. (d) cutting or removing or permitting the cuttinR Und re-
mo~-a) of any trees or timber on the MortRaRed Property, le) removing or exchanging i~ny langible ~~ersonal pro{~erty which
is ~k+rt of the Alortgagecl Property, or (f) entering into or moclifyinR any leases of the MorlKaRe.1 Yro~~erty.
7. To tnainlain the 1NortRaRed Property in good condition :~nd m{~:+ir, includin~; 1-ut not limited to the m:+kinR o( such
m{r.ii~:s as MortRagee may tmm time to time determine to F~e ne~Y~ssary tor the presen.+tion o( the MortRaKed Pro~Krty :~nd
to not commit or {~ermit any waste thereof_
R. To comply with all iawx, ordinancrs, regul:itions, ~•ovenants, ~Y~nditions and re~tric•tions aftEr•tinR the MortRaRec1
E'ro~tt-rty, and no! to sufter or E~ermit .+ny violation thernof.
9. !t 111ortga~ur tails to ~x~y an~ ~•laim, lien or encumbr:imr vvhich is su~~erior to this rlortKa~;e, or vvhen due, :~n~ tax
or a~essment or insur.~nce premium, or to k~~ep th~ !~1ortRaKrd Pro~x~rty in rn~u~ir, or ShaU commit or permit K•aste, or i(
thern he cummenccd :~m action or pr~-erdinR a(fectinR the lNortgaRec) Pro~~erty ur !he title themto, or the inlerest ot
ilortgaRee ihemin, in~-IudinR. but not limited tn. rminent domain and b:mkruptcy or rcr-rKaniu~tion proceedings, then
:~1ortAagee, at its o}~tion, ma~ }-ay s~id claim, lien, encumbran~•e, tax, as.gessmeot or premium, vrith right of subro~ation
thereunder, may m:ike such re~wirs and take such ste{-s as it deems ad~-is~ble to pre~~ent or c•ure su~h waste, and may
appear in any such artion or pt«-e~dinR and retain counsel therein, :~Rl~ Z:IJCf• surh actiun therein as Mortg:i~e deems ad-
visable, and tor any ot such pur~wses ~1ortR:~gee may ad.•an~•e such sums of money, in~•luding all costs, reasonable attorney's
tees and olher items of ex~iensr as it decros necessary. AtortR.~gee shall be the sole judge of the legality, validity and priority
of anv such claim, lien, encumbrance, tax. assessment and premium ~nd of the amount n~•c~ssary to be ~~id in satisfaction
thereoi. 11ortRagee sh.~ll ~ot t~e hetd ac~•ountahle !or a~y del.~y in makinR any such ~~:~yment, which delay may result in
am• .idd~tion.d i~terest, ~•usts. charKe~, exj~r-si~s or otherx•ia•.
10. ~tort~a~ar Kill µ~}• ro rtort~:~~e~e~. imrri~~iatelp and N•ithuut deniand. all sums ~-f muney ad~•an~rd by Mortg:~Ree
to pmtei•t the ~~uriey hereo( ~-u~uant to this '.11ortRaQ~, in~•IudinR all i•ostx, rn:~sonabl~ attorney's (ees and other items of
e:{~rnse, togeiher with ~nterest on earh s~ch advancement at the hiRhc~t I:~w•ful rat~ of intPrect ~ier annum in the Stat~ of
Florida, and all su~•h cums and intenKt them~n sh:dl Fre se.•ured herrby. .
11. All sums o( money uti•ured hereh~~ shall t~ ~-:ryable without :~ny rel~c•( aa~h:rie•vc~r (mm :~ny ~'alu:~tion or appraiu~-
ment law~s
12. It detault t~e made in {wyment ~>( any enstalmrnt n( prini•ipal or interes! of the Note or any ~k~rt themo( when
due, or io {~yment. w•hen due, or any other sum u~vrecl hereby, or in ~~r(ormance of any ot MortRaRor's obligations, coven-
:~nts or aRreements hereunder, all of the indebtrdne.s uivred hereby shall 1~•ume and t-e immediately due and p:~yable a! the
~ption of ~lortgaqee, without notice or dem.+nd w•hii•h are hereby expressly wai~~ed, in whirh erent MortRagee may avail itselt
ot ult rights ar-d remedies, at law~ or in equity, and this ~tortgaAe may he toreclosed with all rights and remeclies afforded by
the !au-s ot Florida and 1~to~tgaRor sh~ll ~~y all costs, charRes and ex{~enses Ihereo(, in~•luding a reason.ible attorney's tee.
includin~ all su~h ~ti~ts, e:{~enses and attorney's Iec~ tor :~ny retrial, rehearing or ap~~e:ds. The indehtedness secured hereby
shall be.ir interest at the hiRhest lawful rate o( interest ~~er annum in the State ot Florida from and aiter the date ot any
such default nf \lortgaRor. I( the Note pro~~ides (or inslalment payments, !he Morl~aRee may, at iis option, collect :~ late
~~har~e not to eu~eed two eents tor ea~•h one d~,llar not paid to the MorlRagee when due, to reimburse the 111ortRaRee !or
expensPS in colle~-tinR and sen~i~•ing such instalment ~-:~yments
13. It default t~e made in ~~.-~yment, v-~hen due, ot any inde•btedmws auti•ured hereby, or in ~x~~lorm:~nc-e of .~ny ot
~tortRaRor s obligations, ~n~~rnanls or aRreement hereunder:
lal ~1on~a~ee is authorized at any timP, without notice, in its sole disc•refion to eriter u{wn and take ~M~srssion of
the ~lortgaRrd Property or any {H-~rt thereof, to ~-ertorm any acts :1ft~rtR:~Ree deems nec-essary or pmper to ronsen•e the
security and to e-o!lPrf and recei~•e all rents, issuex and pro(its thereu(, includinR those {k+st due as wpll as those~ acv-ruinq
thereafter. and
Ibl A~ortgaRee shat) F~e entiNed, as a matter oi stri~t riRht, withouf notice and exparte, and without reKard to fhe
~~alue or M-cu{ian~y of the s~r-urity, or the sol~•enc•y ~f TtortRagor, or thP adequary of the Mortgaged Property as secvrity fur
the 1\ote, to ha~•e a recei~er appointed to enter u~~on and t:ike ~n-ssession of the BlortgaRed Properly, collect the renta and
protits therefrom and apply the same as the ~~urt m.~y dire~-~, su~h receiver M ha~•e all the rights and ~xiwers permiUed
under the laws of } lorida.
In either such case, ~lortRaRee or the re~•eicer may also take possession of, and tor these purpo~ use, any and all
personal property which is a part of the :~tortQaRed Pro~~erty and u.4ed by Mortgagor in ihe rental or leasing thereo( or
any ~a:i(L ~FIPft'O~, TfIP e:pense lincluding rerei~•er s fees, counsel (ees, rosts and aQent's compensation) incurred pursuant
to the powers herein containe~l shat) be secured hereby. AtortKaKee ahall (a(ter {k~yment of aU costs and e:penses incurredl
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