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Home My WebLink About2260. .~ :~i•~•ounC b p:~y su~~h chs~rRrs wheo due sludl I~e ~x~id by Murigagor lo Mortgugcr un demund. 1(, by maxun o( uny defawlt by Alartgugor unde~ uny prorision of Ihia Mortgc~ge, MortKi~R~'Q declurr~ .dl xuma rrcumd hemhy to i~e due und ~x~yut-le, Mortgugee may then apply uoy tunds in a~id uccount Agninat Ihe entire indPbtednrxs e~~ti hereby. The enfonruhilily ot ~ the covenants reluting to u~xea, uescassmenla nnd inaurnnce pcemiuma henrin otherwiu•~~i~1ed shnll not be ~ffected except insofar as Ihose obligatio.~s have been met by compliunce with thia ~wrngraph. Morigagae muy from lime to time ~t ils option waivc+, und a(ter uny sueh wuire~ reinati~te, any or ull pmvisions hereof requiring ruoh de{waits, by notice to Mortgngor in writing. While any such waiver is in eftect, !~tortgaigor ahall ~>ay tu:es, aasvs~menta and inaura~ce ~~remiums .-e herein eleewhere provided. 4. Ta promptly puy ull taxes und s~xeesaments :~sses.9eci or levied unde~ und by virtue o( any atnte, Icdrrul, o~ munii•ipnl i~w or regulution hereafter µ~esed, againat Morigagee u~wn this Mortgaqe or the debt hernby eerured, or u{wn ita interrat under thia Mortgzige, provided hawever, that the totul umou~t so {uiid for uny such tuzes purxunnt to thia ~~:~r:~graph togeth- er with the interest pnyuMe on said indebtednexa s1uil1 not ex~red the highesl It~wful r.~te ot intemal in Mloridu :~nd pruvided further that in the evrnt ot lhe ~-ussuge of any such law or rcgulatiun impusing .~ tat or a-ssc~ment :~guinst MortguRee up- on this Mortg:~ge or the det,t secured henby, lhal the entire indehtednexs xcrumd by thia MoHK:~ge sh:dl therru~~on he- come immediately due and payable ut !he o~~tiun of Morigf~gee. 5. To keep the Mortgaged Property insured :+qainsl luss or damaKe by firr, a~d vll perila insurecf aguinsl by an ez- tended coverUge endorsement, and such other risks nnd pe~ils ~s Mortgagee in ila diacrelion ms~y require. The ~iolicy or ~~olicies of such insurance ahal) be in the torm in geneml use from time to time in the (ocality in v~hich the Mortgaged Property is siluutecl, atuill be in such amounl aa Mortgug~•e mny reasonably require, ahnll be issued by n company or com~x~nies :~pproved by Mortgagee, und ahall ~~ontain u stand:~rd mortgagee cl~use with loss ~~ayuble to Morlgagee. When- ever required by Mortg~gee, such ~~olicies, shall he delivered immedialely to and held by Morig~gee. Any ~nd all amounts re~rived by Mortgagee under any of su~•h ~~olicies mny be s~pplied by Mortgagee on the indrblcdness secured hereby in such manner ns Mortgagee may, in its sole dis~•retion, elec/ or, at the option of Morlg:~gee, the entire amount so remived or nny ~iart thereof mny be released. Neither the n~iplication nor the rele.~ae ot any such nmounls shall cure or waive any de(ault. Upon ezercise of the ~wwer ot sale given in this Mortg~ge or other acquisition of the I1lortgaged Pro~~eHy or any paH there- ot by MortgAgee, such {wlicies ahnll t-eeome the nhsolute pro~~erty ot Morlgagee. 6. To tirst obtain ihe wrilten cronsenl of Mortgagee, sunc ~onsent to I~e grauted or withheld iU the ~,le diacn>tion o( Mortgagee, before (a) removing or demolishiog any building now or hernatter erected on the premises, (b) altering the :irrangement, design or structural character thereof, (c) making any repairs which involve the removal o( structural parta or the exposure of the interior of such building to the elemenla, Id) cutting or removing or permitling the cutting and re- moval of any trees or timber on the Morlgaged Property, (e) removing or e:changing any langible personal property which is ~u~K of the Mortqaged Pm~ierty, or (f) entering into or moditying :~ny Irae~ ot ~he Mor~gaRed Pn,t~eny- ?. To maintain lhe MoHqaged Properiy in good eondition pnd re~-air, in~luding but nol limited to the making o( such re~uiirs as Mortgagre may trom time to time determine lo be necesw~ry for the preservntion of the MortKagcd Property s~nd to not commit or ~~ermit any waste thereof_ H. To comply with all law:z, ordinances, mgulations, e•oven:ints, ~•onditions and mslrictions attec•ting the MortRagetl Pro~~erty, and not to su(fer or ~x~rmil any ~•iolation themof. - 9. It Morigagor fails to ~~y any cluim, lie~n or rni•umbrancr which is su~~erior to this Mortgage. ~r whNn due, any tax or asgessment or insuraner. premium, or to keep the Mortgaged Property in re~u~ir, or shaU i•ommit or ~~ermit waste, ur if there t~e commenced any action or procecding affectinR tl~e MoHg:~ged Property o~ the title thereta, or the interest o( Mortgagee therein, including, but not limitecl~ to, eminent domain :~nd t-ankruptcy or reorganization pnx~eedings, then Mortgagee, s~t its option, m:~y ik~y said claim, lien, rncumbran~r, taz, assessment or premium, with right of subrogation thereunder, may make such re~k~irx and take such steps :~s it deems adviaible to pre~~ent or curn such waste, ~nd may apE~r in any sueh action or pra•eedinR and retain counsel therein, and take such action themin .is MortRagee deems ad- visable, and (or any of such pur~wses Mortgugee riwy ~dvance such suma ot money, including al) ~rosts, re:-sonable atlorney's feea and other items of expense as it deems necc~:~ry. Morigagee sh:ill be ihe sole judqe ot the legality, validity and priurity of any such claim, lien, encumbrance, tas, tis~sment and premium and ot the amount tiecessary to be ~mid in satisfaction thereof. Mortgagee shal) not be held acruunt:~ble for any delay in m:~king any su~•h ~~yment, which dclay may result in any additional interesl, rosts, charges, ex~~enses or otherwi.ge. 10_ blortgaRor will ~xry to MoHR:igee, immediately and w•ithouf demand, all sum~s ot money advanird by MortgaRer lo protect the securily hereof pursuant to this Mortgage, including all c~ts, reasonaMe attorney's (ees and oiher items ot expense, together with interest on each such advan~ement at lhe highest law(ul r~tP of interest ~ier ~nnum in the StatP nf Florida, and all such sums and interest thereon shall {-e ~vred hereby 11. All suma o( money ~•ured herFby sh:lll Il(' ~~IVi1F/IN N'I~FIOW any reliel whatever fmm any ~•aluation or appnise- ment I:~ws. 12. I( default t-e made in ~h~yment of any instalment o( princi~kil or inlcrest o( the Note or any ~k~rt Ihereo( when due, or in ~yment, when due, or any other sum secured hereby, or in ~~erformnnce of any of Mortgagor's obliqations, coven- :mts or aqreements hereunder, all of thc indebtednc~ se~vred hereby sha11 berome and 1-e immediatrly due and ~h~yablc at the option of Mortqagee, without notiir or demand which are hereby e:pressly wai~~ed, in which e~~ent Mortga'gee may avail itself ot all riqhts and mmedies, at law or in equity, and this Murtgage may he foreclosed with all rights and remedies afforded by the I.iws o( Florida and MortqaRor xhall pay all costs, chnrges and ex~~en.ges lhereo(, including a reasonal~le atturney's (ee. in~ludinq all such ~~osts, ez~~nses and attorney's (ees tor any retri~l, rehearinR or appeals. The indebtedness secured hemhy shall t~ear iatetest al the highest law(ul rate of interesl ~~er annum in lhe State o( Florida trom and after ihe date ot :iny such detault of Mortg~gor. If the Note provides for instalment Ek~yments, the Mortgagee may, al ils option, collect a late charge not to e:ceed two mnta for ea~•h onc dollar not paid to the MortgaRee when due, to mimbursP the MortRagee (or expenses in colle~•ting and eervi~•inR surh instalment ~x~ymenfs 13. I( de(ault I~ made in ~h~yment, when due, of any indebtednc~s sec•ured hereby, or in ~~ertorman~e of any of MortRagor's obliqations, covenants or .~Rmemenl hereunder. (a) MorlgaRee is authorized at any time, without noti~e, in its sole discrelion to enter u~~on and take ~~o4ses.gion of the Mortqaged Propetty or any part thereo(, to ~~ertorm any 7CtS MortRaRee deems necessary or proper to consen~e the serurity and to cotlei•t and receive ~11 rnnts, ixsues and pro(it~ thercwf, includinR lhose paal due as well :tis thaee a~rruing t6erea(ter: and Ib) MorlRaRee shall be entitled, aa a matter o( strict riqht, without nolice and exparte, and without regard to the value or occu~~an~y of the ~crurity, or lhe solven~-y o( Alortgagor, or the adequacy ot the Mortgaged Property as security (or the Note, to have a receiver nppointed to enter u~~on and take ~~os.gession o( the Mortqaqed Yroperty, collect the rents and profita theretrom ~nd apply the same as the court may direct, su~h receiver to have all the rights and powere permitted under the laws of Florida. ' ~ In either such case, MortRagee or the receiver may also take ~wssesaion o(, and for these purposes une, any and all person:d property whi~h is a part ot the Mortgaqed Property and used by Mortgagor in the rnntal or teasing therPOf or ~ any part thereot. The ezpense (includinq receivera (ees, counse) fees, coats and agent's compensation) incurrrd pursuant ~ to the powe~a herein contained shall be secured hereby. MortqaRee shall (atter payment ot all costa and e:pensea incurred) f : -2- ; ~ a~~x 347 P~~E 2254 ~ ~- :, ~. _:_ ~ ~~ ~#~t _ .~. _ . _ . - -:~ ~__~ ~ ~-;