HomeMy WebLinkAbout1526:uruunt tu µiy such ~•twrges when duc shull I~e µ~id by Morlgugar to Mo~tgagrc on dPmund. If, by m:~a~m uf uny detault
hy MoHgi~gor unde~ uny provision ot this 1~lortguge, Mortg:igce de~•li~rea ull sums sec•ured herei-y to I~e due und ~-uyuhie,
MortgaRPe may Ihen npply ~~~y tunda in s:ud ~n~ount ag.~inxt tha rntire iiidebied~eas secured hcmby. The entor~eubilily of
the c~ovenunts rel~+ling to taYes, iis~rs-ments nnd insunince ptemiums herein olherwiae provided shul) not be uttecled except
inso(ar us those ohligutions huve t-een met by complii+nce with lhia {wn~gn~ph. Mortgugee muy trom /ime to time at its
option WAIYQ, and a(ter any auch wiiit•er ~einstate, any or ull provisions hereot rryui~ing such deposits, by noth~e to
Morlgi~gor io writing. Whiie uny aurh wHi~:er is in ettect, Mortgr~gur atwl! ~wy taxes, ux~~menta u~d iosur.~n~~e premiuma
as herein elsewhere provided.
4. To prompUy puy all taxex und a~sse:~.vmeots :~ess~rl or levi~d und~r :~nd hy virtue •~I :~ny st:de, t~~lernl, or munic•i~-sd
law n~ ngult~tion hereafter pusaed, t~gt~inal ;4lortgiigee u~wn lhis Mortguge o~ the debt hereby ~•ured, or u~wn its i~tereat
undcr this Alortgage, provided however, thut the total ~mau~t so ~r.tid tor ~ny surh t:~xes ~wrsuaot to this ~k~r.igrnph togeth-
e~ with the interest Eu~yable on s~~id indebtcvln~;s shal! not ex~ti~i the highesl lawtul r.ite of interest in Florid:~ and pn~vidc~l
further th:+t in the eve~t o( lhe p:iss:+ge o( aoy such law or rngulatiun im~wsing a tax or assc.~ment ag:~inst hlortgugce up-
on this MorlgaKe or the deht ~ured hereby, that the entire indebtednesa x~•ured hy t6is MortgaKe shnN thernu~x,n t-e-
~~me immeclintely due a~nd {k~vable at the option of Mortgagce.
,5_ To kcep the Mortguged Property insured .~gainst toxs or damuge by fire, and atl perits insun^d a;;:~inst by an ex-
tendc~ i~o~•er.~ge endorsemcnt, and such other risks und ~mrils as Mortgngee in ils discretion may requim. The ~wlicy or
~~olii•ies of such insurnnce shall be in the torm in gener.~l uae from time to time in the locality in which the Mortgaged
Pro~~erly is situaled, shaU t-e in such a~mount us MortgaRee may reason.~bly rnquire, shall he issucd Iry n ~~ompuny or
com{~nies upproved by Mortg.~gee, and sh.~li contain .~ st.~ndard mortgugcr clausr with 1~ ~~:~yaMe to Mortg:~gee. When-
e~•cr reqvirrd by Mortgagee, sueh ~~olicies, sh.ill tM delivered immediairly tu and held by Morigagcr_ Any and .el! amountc
rcY~~i~•ed by A1orig:~Kee under any of such ~~olicies may i,e uppliecl by t~lortqager un the indebtedness ~•umd hemby in such
manner as MoriKagee may, in ils sole discmtion, elect or, al the option of A1oHguRee, the entirn :~muunt so mrived or ~ny
~k~rt therenf may be mleased. Neither the .ipplication nor ihe rnlease ot any suoh an~ounts sh:ill cure or w~ive any def:-ult.
Upon exemise of the ~~ower at sale given in this Mortgage or other ~~~quisition ot thH Mor1K:~R~ i'roperty or any part there-
of by 111ortgagee, such ~x~licies shal) 1-ecome the aF-solute property of Mortg:iKee.
6. To firat obtain the written consent of 141ortgagc~, suc•h ~Y-n~ent to 1-e Rr.~nled nr withheld at the sole discretion o(
Mortgagee, betorn (a) removinR ot demolishing nny building now or hemafter erected on the pmmises, fb) alterin~ the
arrangement, design or siructurat character thereof, (c) mt~king ~ny re+~airs which invoh~e the removal ot slructural p:-rts
or the expo.4ure of the interior ot such building to the elements, (d) cutting or removing or permitting the cutting und re-
mo.~al uf any trees or timber on the MortgaRed Property, le) removinR or exchanging ~ny tangible personal pro~~erty whii•h
is ~k~rt ot thc Mortgaged Fro~ierty, or ((1 enterinR into ot modityinR any ~eases of the I~lortgaRer! Pro~~eriy.
?. 7'o main4~in the Mortgaged ProE~erty in good condition and re~k~ir, including but not timited to the makinR o( such
re~~irs as Mortgagee may trom time to time detertnine to t~e nc~crsc~ry for the preserv~tion of the MorlRaged Yroperty and
to not comtnit or ~~ermit ~ny x~aste thereol.
S. 7'o c~omply with all law:s, ordin.in~•rs, regul:dions, covenants, ~•.~nditions and rrstrii•tions affe~•tinR the l11oHR~~R~
Pro~-erly, and not to su((er or ~~ermit any violalion ihereof.
9. I( MortgaRor f.~ils to {w~~ any claim, lien or cni•umbrance which is su~-erior to this MorlRuRr, or v-•hen due, :~ny tax
or assc~vment or in.suranrn prnmium, or lo keep the MortgaRed Pro{~erty in rr{~air, or shafl ~•omn~it or permit w~aste, or if
there t-e commenced any action or {jroc-eeclinR a(fectin~ Ihe 1~iortRaged Property or the tille thereto, or the interesl ot
1lforiga~ee themin, includinR, but not limited to, eminent d~3m:~in and bankruptcy or reorganization pmceedings, then
Mortgagee, at its option, may ~k~y s.~id claim, lien, rncumbrnn~r, tax, as.4essment or premium, v-ith rig6t of submKation
thereunder, may m:ike such re~~irs and take such ste~~s as it deems ad~~is:~ble to prevent or cure ~uch waste, and may
appear in ~ny such action or pro~~eedinR .ind retain i-ounsel thernin, :+nd take such action therein as MortRaRee deems ad-
visable, and tor any ot such pury~oses 111ortgagee rrury advance such sum.g of money, ini•luding .~11 costs, reasunable altorney's
fees and other items o( ex~~ense as it deems necessary_ MortRagee shall be the sole judge of the (egality, validity and priority
uf any such i•laim, lien, encumbrance, tax, assessment and premium and of the amuunt neressary to !~e ~~:iid in salistartion
thereo(. Mortgagce shal! not be held account.~ble for any del:~y in makinR :my su~•h {-:~yment, whi~•h delay may result in
any additional intemst, ~rosls, i•lwrges, ex~>enses or otherwise. '
10. ll~ortRaRor will E-:~y to A~lorlQaRcr. immc~cli:+tely ~nd wilhout demand, all sums ot monpy advan~rd by MortRaRec
to protect the security hereof pursuant to this MortRaRe, includinR all ~~osts, reasonable attorney's fees and alher items of
ex~x•nse, logether w•ith interest on each such ad~•ancement at the highest lawful nte of interest ~~er ~nnum in lhe State ot
F'iorida, and all suc~h sums :+nc! intemst themon shall he se~vred hernby.
11. All sums of money u~•ured hereby sh:Jt Irc~ ~-:~yahle w•ithciut any re•lirf x•hatevrr fmm any ~•alu:~tion or appraise-
me~nt !aw•s. .
12. If default be made in ~xiyment of .~ny inst.ilmeM ot prin~•i~~.~l or interest ot the Note or any {k~rt thereoi when
due, or in payment, when due, or .~ny other sum secured hereby, or in ~x~rtormanrn ot any of IltortRagor's obliRations, ~~ven-
ants or aRreements hereunder, all o( the indebtedness sec•ured hereby shall I-ecome and hc immediately due and payable at the
option of MoHgagee, without notic•e or demand whii•h are hereby expressly w.~ived, in which event MortRagee may avail itselt
of al! righls and mmedies, at law or in equity, and this Atortgage may be foreclosed with all rights and remedies a(totdecf by
the laws ot Florida and Mortg~gor shall ~~:~y all cosls, i•harges ~nd expenses thereof, including a reasonable attorney's fee,
in~•IudinR all such costs, expenses and altorney's fees tor any retriat, mhearing or appeals. The indebtedness secured hereby
shail bear interest at the highest law(u) rate of interest per annum in the State ot Florida from and a(ter the date o( any
such detault of Mortgagor. I( the I~ote provides (or instalment payments, the 1~1ortRaRee may, al ifs option, collect a latp
charge not lo e:ceed tvvo ~~ents tor each one dollar not paid to !he MortRagee when due, fo reimburae the 111ortgaRee to~
ex~ien~ in ~~olle~•tinR and servicing such instatment payments
I3. If default be made in payment, when due, of any indebtednc~ss sec•ured hereby, ot in ~~er(ormance of any of
MortR.~gor's obliRations, covenants or aRreemenl hereunder:
lal AlortgaRee is aothorized at any time, without noti~e, in its sole disc~mtion to entrr o~~on ~nd t:~ke ~-ossf~ssion of
the l~fortgageci Property or any part therrof, to ~>erform any acts MortRa~ee deems nec•essary or pro~~er to consen~e lhe
security and to collect and recei~•e all rents, issues and protiL~ thereof, includinR those past due as ~+'ell .~s those accruing
therealter: and
(bl MortRagee shall Ire entiNecl, as a matter oI strirt riRht, without notice and eY~~arte, and without regard to !he
value or occupancy of the serurity, or the soh~en~y o( 111ortRagor, or the adequacy of the Mortgaged Property as security fur
the Note, to have a re~•eiti•er appointed to enler u~n and take posgession of the 111ortgaged Property, coDect lhe rents and
pmfifs theretrom and apply the same as the court may dirnct, such receiver to have all the righta and powers permitted
undcr the laws of Florida.
In either such case, MortQagee or the recei~•er may also take pacsession of, and (or theae purposes use, any and aU
personal pm~~eHy which ii a part of the 1~tortgaged Property and u.4ed by blortgagor in the renta{ or leasing thereof or
any ~:~rt themnf. The ex~~ense (including receiver's feeq. counsel fees, costs and agent's compensation) incurred pursuant
fo the powers herein contained shall be secured hereby. ~ltortgaRee ahall Iatter payment o( all costa and e:penses incurred)
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