HomeMy WebLinkAbout2660a~•.•uunt lu ~u~y ~cui•h ~~hurK~~x wh~•n du~• ahall Ir• ~~:~id by 111or1KuKur 1u Atorl~;:~K~r un d~•mand. 11, by n.~aun ot uny deluult
hy MorlKagor und~•r t~ny pro~iaion of Ihis Murt~;ati~•, A1urIKaK~x• derlun~ all xumy iuV•umcl he~~•hy ta I~e Jue and ~-:iyuble.
Mortgag~~ m:~y then apply any (unda in uuid :~ccount uK+~irwvt the entira indet-trdn~nw ~•umcl henby. The entorcrab~lity ot
the ~~ovenants rel:~ting to taxes, uav~~mentn :u~d inxur.~n~r premiuma henin otherw~sr providcd shuil not I,e u(fectrd ezcept
ituzu(t~r us thoae obligutions huve 1-cen mct by i•umpliunce v-•ith thia (ui~ugru~ih. Morlqugre muy (rum timc lo lime a~t itx
pption wuire, n~d n(te~ a~ny su~•h wt~iver reinxtal~~, u~y ur ull pruvisionx hereu( n~~ui~ing surh de{wxite, by not~ce to
Mortgagor in writing. While uny such wuiver is in eltr~•t, lUoriguKur sshull ~~y taxes, u~sxmeMs and insuran~r pmmiunue
as hemin elsewherr prc~~•id.d.
4. To promplly ~~y ull t:~xes and :-s,~~xx~n~•nla :~i.su:c,.~l u~ (~•vic~cl undcr und 1-y virtue o( a~ny xlatc, I~~lend. or muni~•i~-:~)
Inw or i~e~tulation herru(ter ~~;~ssed, uguinst A1ortK:~g~~• u~N,n Ihis I~tortguge ur the debt hemby se~vnd, or u~Hm itx intereat
undr~ Ihis 111ortgage, providecl howeve~, thut the total :~mount su pa~id tor :~ny such ti~xeb pur.~u:~nt to lhis {~:~raqr:~ph t~geth-
er with the inten~st ~,:~y:~ble un s:~id indebtecln~~.x sh:~ll not ~•x~~~~ci the higheat law(ul r.-te ot intemsl in Florida :~nd provided
furlher fhtd in lhe c~~ent of lhe ~xi~sage ot any such law~ ur rrRulaliun im~x~sing :~ t:+x or aas~~ssmenl against Mortgax~Y• up•
un this MortKaRe or the deb! sc~vnd hereby, th:d the enlim indebl~~ncxv ~ur•un~1 by this Mc~~lK:+K~ vhall Ih~~reu~x~n tx~-
cumr immrdialelv due und ~u~yable i~l the optiun of MorIR•~K~-
5. To kirp the 141ortguged Property insurcrl :~gainw! loss ur d:~nu~Ki~ by fin•, and ull ~x•rils insunYl ag:iinst by an ~~x-
tended cover.~Ke endorseme~t, and such other risks :~nd ~~rils :~ Hlortg:~~~w in its dis~•mtion m:~v myuirr. 'I'he ~~olicy or
~K~lii•iex o( such insurt~mr sha~11 t-e in the turm in Rener:d u~ from time to time in the 1«•ality in ~•hich th~• 111ortRaR~d
Pm{~erty is xituatcrl, shuU Ix~ in such anwunt as 111urtKa~~~c• muy m:iwn:~bly n~yuire, shull Ik issu~~l by u com{k~ny or
i•om~x~nies appmveci by 1~tortKag~r, and sh.ill ~•unt:~in a st:~ndarcl m~~rtKag~~e~ ~•L•~uu~ with Ic~~.s ~,;ryable lo MorlKakec•. When-
rver rnyuirncf by MorIR:~Rcr, su~•h ~~li~•ic~s, ~hall Ix~ deli~~mc1 imnx~iately to and held hy 111oriRaRe~. Any and all amounts
rc~rivrc~ by h1ortK:~R~e under any <~f suc~1 (MIICIPS may IK~ ap~-licd by AturtQaRc~ on th~• indeLtcdne~c sM•urc~1 h~reby in su~•h
m~nner :~s A1orlR.igee m:~y, in its sule disc•rntiot~, elec•t or, ut the oplion of A1urtKaRee, the rntirP nmount u~ rc~•eived or ~ny
{u~rt thenwt may lie rnleased. Neither the applicntion nor the rele.~ye o( any su~•h nmounts tihall cure or ~+;~ice nny dc•laulf.
ll~~on exercise ot the {x~wer of w~le givrn in this Mortgage ur other aryuisi~ion ot thf~ Mo~tR.~Red Pro~Mrly or any ~k+rt thc•re-
o( by Mortga~gee, ~uch ~~olii-irs sha~U i~vume the ul~sulute pm~x~rly o/ AlurtgaR~r-
ti. To (int obt:iin fhe written ~~nsent of 11ortKaRce, su~•h i•onx•nt to la• ~r.~nt~vl or withh~~ld :~t th~~ wly di~•n•tiun o(
~lortgagee, t-e(ore (a) rrmoving or d~~molishinR any I~uildinR nuw ur h~•ma(t~~~ ~•n~•f~~c1 on the premiw~s, Ib- :~IterinK th~•
.~rrungement, dexign ur strueturul char.~cter thereof, Ic) making any re~x~irs whi~•h in~~ol~~e the rrmo~•al ot structur.~l ~~:~rts
or the ex~~ure o( the interioi o( su~•h 1-uildinR to the elem~•nts, Idl ~~uttinR or n~movina or ~mrmittinR the i•uttinR :~nd re-
mo~~al u( any trees or timber un the t~lorlg:~Red Ym~-erty, le- remuvi~K or exehanR~nR any, ts~ngible ~-ersonal pro~-erty whii•h
is ~~:~rt of the :~1oHKaKiKI Pro~x•rty, or ((1 ~•nlerinR into or m~alifyi~R :~ny 1~:~si~~c of thi~ MortKaRir1 Pm~~rrty.
7. 'I'o nuiintaiin the Mortgaged Pro{~erty in gixxi i•nndition :~nd m~-:iir, including but not limitecl to the m:ikinQ ~,1 sui•h
re{~airs .~.K Alortgagee may from time to time detem~ine to t~ ncti~es~:~rv f~~r thi• prrsrn•ation o( the MortRagrd Ym~xrty :ind
to not commit or ~~ermit any w:~xte thereoi.
3. 'I'o rnmply v~•itFi :~l) I:~ws, ordinan~-~, n•~ul:itiu~s. ~v~~•e•nant., ron~liti~~n. ancl n•stri~•tions at(~~~•tinR thi• ~tortR:i~cri
Ym~~rty, and not to su(fer or (-c•rmi! any ~~iolation lhi•rmf.
9. 1t 111ortKaRor (ails to pae :~m• ~•laim. li~•n r~r e-~cuti~bran~•e which is ~u~x•riur lu thic A1ortK:~k~•, ur wh~•n du~•, any t:~x
or :~ssessmen! or insurnnir premium, or t~~ keep th~ ~1orlQaRt~d Ym~x•rtr in n•~~:~ir. or shal! i•onunit or ~H•rmit w•ast~~, or ~1
there t~e commenced any ai•tion or prm•c~YiinR atfee•tinR thi~ ,~1oH~.~Re~d Pro~x•rfy or the fiNe themto, or the int~rest ot
1liortgagee therein, includinR, hut not limitecl to. emineM dom:~in , and t-ankruptcy ~r rr~rKaniLdion proc•eedinRs, then
Mortgagee, at ils option, may ~~:+y s;~id claim. lirn, en~•umhram•e, tax, :~s.w~ssment or pn•mium, with riRht of subro~ation
thereunder, may m.ike such m~~irR :ind t:~ke surh steEn :ix it deems ad~~i4:~ble fu prevent or ~•ure suc•h waste, :~nd m:~y
:~pl~ear in any sui•h action or prex•e~edi~K and retain ~~unsel tfiemin, und fake su~•h a~ctiun thrrein :~s 111ortKag~~~ derius :~d-
visable, and tor any of su~•h pur~x~x~s AturlRagee may ad~:~ncr such sums of mt~ney, including all ~•usfs, reasunable attorney's
fees and other itenis ot ex~xnse as it de~c~mc ne~•esy:~ry. 1lfortR:+gtr• shall IK~ the sole judge of the legality, validity :~nd priority
of :~ny such c•laim. lien, encumhr.incr, tax, as.u~i.~ment and ~>remium and of tht~ amuunt ncY•e~viry to be•~~:+id in satislaction
themof. rlortgaQee sh.~ll not Ix• held :u•cuunlablt~ tor any delay in m.~kin~; any su~•h paym~•nl. w~hi~•h dclay m:ry msult in
an~ addilion~l interewt, ~•~wts, charRE~c, i•x~x•nses or uth~n+i,r. -
1Q MortRaRor will ~un~ tn MortKa~cr. imme~di:~teh• and w~ith*~at d~•m:~nd. :dl ;umc ~~( niun~•y ad~an~•t~d by tlurtR:~Rir
to protect the sc~•urily hemof ~-ursuant to this Mort};aKe, in~•IudinR aU ~•oxts, rc•ason:~ble :dtorney's fc~ :ind oiher items o(
ex~~ense, toRether ~+•ith interest ~~n c•a~h su~•h ad~~anremc•nt af the hiRhc~st Inw~(ul r.~te of int~rest ~-er annum in the State ot
Plorida, ~nd all such sums and intemst Iht•rc~n shall he se~•unYl hemlw.
ll. All suroti u( muney .~~~•ur~Y1 h~•n•hy .hall f~• ~r.~p:~hli• avith~wt am• r~•lii•f ~hat~•~t•r (rom :~ny ~.Juatiun or appr.~i.~•-
me~nt laws.
1'L. It delault Ix~ made in paymf•nl of any ~nstalmi~nt ~~t ~-nn~•ipal ur interest o( th~~ Nuti• or :~ny ~-art Ihert~t when
due, or in p:~yment, when due, or any-~~ther sum u~•un~l hereby, or in ~r~•rforman~•e ut anp u( ~1ortKaRor's obliRation~, coven-
ants or aRreements hen~under.:ill u( the• indebtednc~ sc~•urcd hereby shaU t~e. onie :~nd I~c~ imn~Mli:~tely due an~i pay:+hle at the
option ot ~tort~agr~, w•ithout noti~•e ur d~•mand ~•hi~•h are herrbp expn:+.h• wai~~ecl, ~n w•hi~•h e~~E~nt MortRaRi~a~ may a~•ail ilselt
of all riKhts :~nd mmcYlies. at IaN• or in ~r~uity, and this 1~1ort~:~RP may 1~• forr.•IostYi with all riRhts and remedies :~f(ord~ hy
the law•s of F lorid:i :~nd MortRaQor sh:dl p:~y aU costs, charRe~s ;~nd ex~x•nsrs thereo(, in~•IudinR a reason:~bl~ aUorneY~s I~K•,
includinK all su~•h ~•~~ts, ex~x~nses and altorney's (c~es for any relrial, rnhe:~ring or ap~xals. The indehtcrlnc~ss ~•unY1 hereby
sh.~ll I~e:~r interest at thc• hiKh~~t I:swtul rate of int~~r~st ~K•r :~nnum in the S~ate oi F~orid:i tmm :~nd a(ter the dnte of :~ny
su~•h def:udt o( MortKaKor. It thf~ lote pro~~id~~s tor intitalm~•nt ~i:~ymcnts, the 11ortKaQee may. :-t its option, collei't a late
~•h:~rKe not to ~~xe•eecl twn i•E~nts for ~•a~•h one dullar not ~r.~id to the ~tortQ:~Rcr ~hen due, lo rf•imhursc+ the A1ott~aRee for
exE~nsew in ~•oil~rtinR and u•n•irinR such instalment ~~:ryment+
13. ll default tx• made in payment, when due, uf am~ ind~~htt~elneac uvurc~ hereby, or in ~wrform:~nc~ o( any of
!11urtR:~Kors obliRateons, ~~o~•en:ints~ or :~Rr~•mrM hert•und~r
(a) ~tortKaKee iK authorizt~ at any lime, withuul nuti~•~~, in its u~le discmtion to enter u~-on and take ~x~~scssion o(
the l~tortKaQec1 Ym~-erty or any part thenVi(, to ~x r(orm any :ii•ts \turtRaQer deems necessary or pro{~er to consen•e the
set-urity and lo i•ollri•t and re~•~•iv~ all mnt~, ictiu~~ and pro(its th~re~r(, ini•IudinR those past duc as well :~s Ihose acrruinR
thrrea(ter: and
~b) MortKaRee sh:~ll I-e entitlecf, as a matt~r of strict riRht, withou! notice and ex~~:~rie, and wifhout mKard to the
v:ilue or occup:incy n( thf~ ~•t~rily, or the u~hrn~•y o( 111ortR:~Ror, or thP adc~c~uacy of lhe AlortgaReci Pmperty as ~urity for
thP Note, ~O FINVP it ~P1'PIVP~ :1~~qlp~f(I ~O Pf1~Pf U~Nlrl and take ~N~sses.gion of the 1~tortRaRed Pmperty, rnllect th~ rents ~ad
pmfits lherefrom and ~pply the same xs thP c•ourt m:~y dircrt, sui~h rec-eiver lo have al) the rights and ~x-wers permitted
under thr laws of Floridn.
In eilher such ~•ase, `1ortQaqee or the recei~•er m:~y alw~ take ~x~s:session oI, and tor these pur~~ses use, any and aU s
~ier.w-nal prn~~erty which ia a p:~rt o! the MoriRag~vl Pro~-c•r!y .~nd used by MortKaRor in lhe rent:d ar lea~ing thPreof or ~
:~ny ~~art ther~oL ThP rY~-enye Iincluding re~•eiver's fc~rs, rounsel tees, costs and agent's compensationl incurred pursuant j
to the powera herein contained shall t-e secured hernby. ;~tort~aKee ahall lafter payment of a{I coeta and expense:+ incurrc~i) #
-2~ ~~~x~347 P~~E2653 .
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