HomeMy WebLinkAbout2800:ir~•uunl tu ~r,~y .u~•h ~•harR~~ Nh~•n du~~ vhall IK• ~~:~id b~• !11urt~;:~~;ur tu I11urt~;:~~;~~• ~~n d~~ru:wd. 11. bp r.•:~xun ul uny d~•I:~uU
t~v Ato~lgatior und~~r :~ny I~ru~isi~~n u( this 11urt~;:~~;~•, 1lorik~~K~~• d~~~•I~~r~h :~11 ~um~c .u•cun•d h~•n•hy tu IK• du~• :~n~! {~:~y:i61~•.
~tort~aK~Y~ nu~y thi~n a~q~ly :u~y (~nds ~n s:~id a~•~•uunt aK:~inst ihe ~~nlirn ind~•bt~Kin~:c~ w~~•un•d hi•n•by. '1'hr i•nlon~i:~lal~ty ot
th~• ~•o~enants mL~tinK fo t:~xes, :~,s~:+smr~tx .u~d intiur.~nce premiwru+ hen in othe~~.•„u• pru~•i~l~rl ,h:~ll nut IK• .~(le. i~:! ~ x: ~q-1
insalar us thuac• ubligutiunx huv~• IKti•n ntel by com~iluuur with this ~-ar.~gruph. MurtK:~K~ti may (rum hnu: lo lime :U itx
uption Hai~~•, und .~(ler .u~y surh w:~iv~~r n•inst:~tr, any or .~II ~uovisiur-s hereuf nti~uirinK su~•h dP~M1K1~K, bY nuUca lu
A1urIKaKur in writi-iK. While :~ny ,urh wai~~•r i.~ in efl~K•t. H1urlKaKor shall puy laxes, ass~•s.,m~•nls :u~d insuran~•~• prrmium+
:~s h~•n•in el.+rwhrn provid~Yl.
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a. 7'0 ~-rumptl}• {:u~• :~II t:~xi•s and :~...~.!,m~~nl~. :-.~.u•.swi ur I~~vi~~l under :~nd Ly v~rlu~• •~I any ~tat~•, I~vi~•r.~l. ~~r muni~•i~r.il
I:~w ur rr~;ulatiu~ hema(ter {~:i+,~Yi, akains! l~lurt~;ati~~e u~x,n this A1urtK:~Ke or the ~1eht h~•n•by u~~•unYl, ur u~H~n its ~nten•~l
und~~r Ihis AfurlKaK~•. pro~ id~d huwev~~r. th:~t Ihe tut:il .unount .o ~-:~id fur an>• su~•h t:~~.•s ~-urxuant t~~ this ~~:~r.~~;r.~{~h tuK~~th-
rr K•ith th~• intivesl ~-ay:~hlr un s:iic! ind~~bt~~dn~•ss ~hall nut ~•x~•~~~~cl th~• hi~;h~•Kt IaN~ful r.Ni~ u( ~nt~~r.:~l ~n i'loricl:e :~nd pru~•id~~1
further that in the e~~•M uf the p:~s,:~K~• ol any such L•~w ur mKulaUun im~x,sinK :~ taz ur :~»i_c,~n~•nt aK:unsl \1urt~;:~K~r• up-
un this \tuNk:~~;e ur thi• d~•bt s~•un~c1 h~~mby, th:U tht• c•ntin• ind~•bi~~cln~•~ti +~•~•un•d Iw lhi. 11ur1~;:~Kr si~:~l) Ih~•n•u~N~n iN.
~•um~ i~nmediut~•ly du~~ :~nd ~u~yable at thr opti+m of A1orIKaK~r~.
5. 'l'o kec~- Ihc I11ort~;aK~~c1 Yru~xrty insun~c! ag:iin,t lus~ or d:uic~Kr by (~m, and ull ~x•nls insur.~! a~;:~~n,i by :~n ~•x-
trnd~~1 ~•u~.•r.ike ~•ndorw~in~~ai, and su~•h other risks and ~x~rils :~, Atu:tgaK~ti~ in il~ ~fis~•retiun may myuin•. '1'h~~ {N,tiry ur
~K~li~•i~•s uf such imuran~•e shall I~e in the tnrm in ~;eneral use frum timr• tu tinx~ in th~~ I~x:~lity in ..hi~•h th~• AlnrtK:~KiYI
Pro~x•rty is situat~~cl. shall IK• ~n su~•h amount .~~ ~1urt~;aKir~ may masonably rcK~uim, shall IK~ iy+ucrl b~• :~ ~•ompany or
~•oml~ani~y approv~vl by 1~1ortKaK~~•, :~nd ~haU ~•ontain a stand:~n1 mortKaK~•~ cl:wtic ~~•ith lo,s ~ia~:~bl~ tu !11urt~;aK~~c•. N'hi~u-
.~~i~r n~~uinKl I~y \1ortK:~ktti•, su~•h ~x~li~•i~~s, shall i~~ d~~li~~~•n•d imm~Yli:itely to :~nd ht~ld bv MortKaK~K~. An~• :~nd all :~muurits
re~c~~i~iKl by \turtKaK~~e~ ttnd~•r :~ny ut su~•h ~N~lii•ies m.-y IK :~~-plie~cl by I~tortRa-;rr on the ind~bt~~dn~•s, .c~•un~l he•mhy in su~-h
m:tn~e_ t as 111urtKaK~~~ m:~y, in its sul~~ di~•retion, ~~It~~~t or. at 1he opliun of ~1ortKaRer•, the~ ~•ntin~ :imuunl +~~ n~ ~•i«Y! or :~n~•
{r.~rt thrnK~f m:ry ix• mleaw•d. Neith~~r Ihe :~ppli~•ation nur the mli•ase o( :~np su~•h :~muunts shall ~•ur~• or ~:~i~~~• am• def:~ult.
lT~wn exer~•is~~ uf the ~x~w~~r ~~f s:~l~~ Ki~•en in Ihis 11ortK:~Re or other ai•yuisitiun ~~( tht• A1nrIKaKiYi Yro~H~rh• or am~ ~-:~rt Ih~n•-
of by \tortR:~Kee, su~ h ~N~lici~•s sh:~ll iKyomi• thc~ ai~olvte pm~x•rty o( A1ortK:~~;c~~~.
~~. 'fn lint ohtain th~~ Nritt~m ~•onsi•nt oi AlurtkaKE~c•, tiurh i•ons~•nt tu iK• Rront~til ur N'IIIlI1Pld :~1 th~~ .ol~• dis~•mtiun ut
MurtK:~Kc~•. tK~(ore f.~l remo~•inR or di~mulishinK am• buildinK nuw• or hrr~•aftt•r t~re~•t~~cl un the ~-n•miu•s, If~~ altrrink thi•
arr:inKemc•nt, desiKn ur structural ~•h:~rai•ter thereof. 1~•i makinR :~ny r~pairs ~•hi~•h invuhe thc remo~•al ol strui•tural ~-arts
ur Iht• ~•x~x~sure of thc• i~3terior ot tiui•h building to thr ~•lemrnts, Id- cuttinR or rrmo~•inQ ~~r ~-ermittinR the ~•uttinR and re-
ino~~:~l o( :~ny triti~ or timix~r on th~ A1ortK:~Rc~1 Ym~x~rty, 1~•1 m~no~•inR or rxchanKinR any t:~nRible ~~nonal pro~~rty ..•hi~•h
~s ~r.~rt of th~• :11ort~;a~;~Yi Yro~x~rty. or Ifl ~~nterin~ into or nuKlif~~inK :~ny 1~•:~u•s of thr llfortknK~~l I'nqx•rty.
7. 'I'o muintain the l~tortKaKiY1 Ym~x~rty in R~NKi ~•undition :+nd re~r.-ir, in~•IudinK but not lim~trcl to thc• m:~k~nR o( such
n•~r.-in ns A1urtK;iKi~~ may (rum timc~ to time detrrmine~ tu IK• ni•c.•.+:~rv fur thc• pmsrn:~tiun o( the 11urtKaR~Y1 1'ro{x~rty :~nd
to not ~•ommit or ~~~rmi~ :~n~~ wasti~ themof.
R "I'u i•umph• ~cith all la~vs, urd~n:~rn•c•s, r~~KuL~fiuns. i•occ•nants, ~~~~nditiunc .uid r~•stri~•tiuns :J(~~~•tin~; Ih~• ~1nrt~;a~;~r1
F'ro~H~rly. a~d not tu sufli~r or ~K•rmit any ~'iol:~tion thevrof.
!-. If ~1urtK:~kur I:ulc tu ~r.~y :~ny ~•I:~im. lii•~ ur i•n~•umhr.~ni•~• ~hi~•h is s~{x~riur tu thix \turtK:~~;~•, ~~r Nhe•n du~•, :~n~• tax
~~r n~,~~s.timi•nt ur insur.~m•~• pn~mium, ur to ke~•p the• ~turtk:~Re•d Yro~x•rly in r~•pair, or shuU i~ummit ~~r ~ri•rniit ..:~st~~, or ~f
Ih~~re IK~ ~•umm~•n~~c~d :u~~• a~•tion or ~~r~K•e~~ctinK :~Ife~•tinK th~• Mort~:~K~•d Yro~x•rty or the tiUe th~~reto, or the i~t~•rest ot
11urtK:~Kc~c• th~~min. ni~•IudinK. but not IimitcY! to. ~~mini~nt d~~m:~in and b:~nkrupt~•y or nK~rK:~niz:~tion pnx•~~c~di~~Rs. th~•n
~lortgaRir, at its option, may pay v~id i•I:~im. lit~n. c•ni•umhranre. t:~x, a+r•c~~.timc•n! ~~r pmmium, w•ith riKM uf suhroKation
tht•reunder, rtu~p m:~ke~ su~•h n•Eiairs :~nd t:~ki• su~•h st~•~~s :~s it dir•ms ad~iv~ble tu ~~rt~~~e•nf ur cure~ sui•h w:~st~. :~nd m:+p
ap{xar in any surh a~-tinn or ~~nH•wYl~nK :~nd retain ~•ounu~l th~•rc•~n. and I:~ke sut•h actiun therein as ~1ort~;aKre d~•mc ad-
~ is:~hle, :ind tur any of su~•h pur~N„c•s \turtKak~•~• may .id~:~n~~~• su~•h sums o( muney, ine•ludinR all ~•osts, re:~so~able attorney',
fEy~s and othi~r items u( e•~:~x•n~.• us it dec•ms nec~•tiwuy. ~furt~;:~Kir sh:ell ix• the~ ~nle judKN of th~• IeKality. ~•alidil}• and priority
of an~• .ui•h ~•I,~im, lien, e•ni•umlrrance, t:~x. :ic~:tisint•nt and ~~mmium an~1 uf 1he~ :~muunt nF•cesti:uy to f~~ ~-:iid in s:~tisfaction
thrrc•o(. ~1urt~;a~ri• s~~:Jl nnt la• hc~ld :~~r•uu~:taLl~~ fur :u-y drlay in m:~kin~; an~• su~ h ~~:~~•mt•nt. whi~•h d~~lay ma~~ n•vult in
:~~,.~ :~~i~i~~~~~~~:d inten•st. ~•~~tit., ~•h:~rkt•s, i•x~x•ns~•s or ~~th~~n+ist•
IU. ~1ort~;:~Kor ~cill p:~y t~~ 1lortk:~Ktv•. immi•diati•ly :~nd ti~thuuf r!F•m:ind. all .u~ns ~~( munt•~~ :~d~:~n~•~•d hv ~1ort~;:~kc~:
to pn~te~•t !h~• se~•unty hc~re~~( ~iunuan! tu this \1~~rt{;:~Ri•. ~n~•ludin~; :JI ~~ust:, re•:~tion:~hlc• :~ttorn~y's fet~~ and uth~r item~ o(
~•x~n~ns~•, ti~~Fth~•r «ith intc•rt•st on ~~a~•h ~u~•h ad~:~n~•i•me•nt at thc~ hi~hesf I:~wtul ratF• nf intt~n•st !N•r :~nnum in the~ titat~ ul
F'I~~rida, and all su~~h ~ums :ui~1 int~•r~•st th~•nv~n ~h:~ll I~r si•~~urfY! h~~rt•h}
11. All sum. ~~t rn~~n~•~• .e~~•un•d h~•n•hv sh:~ll iK~ ~rayahle• w~thuut :~ny n•I~~•f ~al~:~t~•~~•r Irom :~n~~ ~:~Iu:iNun ~~r :~~~{~r.u.i..
m~•nt I:i~cs. ~ -
I'2. If di~fauit tK• mad~• ~n ~r~ym~~nt uf :~n}• ~nst:~lnu•nt ~~f ~~r~n~~i~r.~l ur ~nte~n•tit o( thr Not~• or am part th~•n•ul ~~hi~n
duf•, or in paynu•nt, ~•h~~n dut•. ~~r :~ny othf~r sum ,ev•un•d hi~r~•hy, e~r in ~x•r(orm:~ni•c• o( ar~y of \1ortK:~Ror s ohli~;ation,, r~~~~cn-
:~nts ur:~Krt~c•mi•nts h~•munder..~ll n( th~• ind~•ht~~dnr.s sc•~•ur~~c~ hfvi•hy .h:~ll t~c~~•o~n~• and IN~ ~mm~~diat~•h~ du~•:~nrl ~r.~~•ahle at thi~
~i{~lion o( 11ortKaKee, withuut nuU~-e ur demand ~+hi~-h :~re t~en•hy i•xpn•ssly «.~ivc•d. ~n ~hi~•h i~oi•nt ~1urlKakiti• m:~~• :~c.+il itsi~lf
~it :ill riRhts :~nd mm~•di~•s, at law or in e•yuity. and this ~lortk:~Kr may Iw• fom~•lusi•d ~~ith all ri~;hts :~nd mmi•dit~s affordeYl by
thi~ laws o( Florida and \lortk:~Kor sh:~ll p:i~~ all ~•~~st,, ~•harK~•ti :~nd ~•xp~•mt•c thi•rrnf, in~•IudinR a re.~sunalrle :~ttorni~~•~s If•~•.
~n~•IudinK :~II su~•h ~•otilc, E•x~K•n.f~ nnd :~tturn~•y's (e~i•s (ur :ui~~ re~tri:~l_ rc~h~•arinK or ap~x:~ls_ The• indrhtiVlnc:.s ur•ured hf~r~•hy.
shall I~ear ~nterest :~t th~• hi~;hf~~t I:~~~~tul r.~te ui intE~re•st ~N~r annum in the Stat~~ ~,r r•i~~~~ia frum and :+hf•r the d;ite u( :~m•
su~•h det:~ult of \1ortK:i~or. I( 9hc~ ~ote ~~n~~~ides lur ~nsh~lment ~r.+~~ment., the illortK:~~;t•e m:iy. :~t its optiun, ~•~>Ilect a lat~•
~•h:~rRe nut to c~x~•e~~d twu c~•nt~ (ur ~~.u•h ~~ne d~ill:+r nut ~r.~id to thF• ~inrt~;nR~~t~ «hen due, tu n•imburw• thi~ \1ort~:~Re~• inr
c:x~mnxy in ~~ullr~•tinK :~nd tic•r~i~•inK sn~~h inst:~hnc~nt p:rvmt•ntc
1:3. II di•L•wlt 1~• made in ~r.~ym~•nt, ~ht•n du~•, o( am' ind~•ht~•dn~•:;s s~•~•uri~d ht•rrb~•, nr in ~x•rt~irm:~n~•c• o( :~n~~ ~~f
~1~~riKa~~~r's ~~hl~k:~t~~~nv, ~•uc~•n:u~ls or :iKre~•mrn~`h~~n•und~•r:
Ial MnrtK:~~;~~~ ~s aufhurizeyl at :ury timi~, withnut nnti~•i•. ~n it~ s~~l~~ dis~•re•tion tn c~ntt~r u{~n :~nd takt• ~Mr.~~•s..iun uf
th~• 11~~rty;.~K~~1 YroE-erty ur any p.~rt ther~•of, to ~x•rform any- a~•ts ~lortk:~K~•~• d~~•ms n~•c•~~.s:iry nr pro~x•r lo ~•onsc•r~•t~ th~~
scr~•unty an~1 to ~•ollt•~•t :~nd rf~~ c•i~~~ all r~•nh, i.su~•ti and prufit. th~~n•of, ini•ludin~ thu~~ ~~ast duF~ as well :~ti thu.~• a~rruin~
thc•n•attcr. and
~h- \1~~rtk:iQee .hall Ik• ~~ntiH~l, :~s :~ m:itf~r ~~I ~tri~•t riRht, withuut n~~tii•e :~nd c~zp:irte. :~nd with~~ut rv~:~rd to th~•
~~:~lu~• or M•~•up:~ni~_y +~t thi• se~•urity. or th~• tiol~•~~nry of !~tortR:iKor. or thr :~de~ua~~y of Ihc• ~inrtK:~R~d Yro~x~rty as se~•urity (or
th~• tiotc~, to h:~~•f• a r~~ri~c~r :1(1~Nllll~f~d tn ente~r u{x~n nnd tak~• p~~~..e•~.,ion of th~ ltortR:~~.K1 Pm~~erty, coll~•1 the~ r~nts nn~i
~~ru(it, therF~(rom :~nd ap~rly th~ w~rti~ :~ti thf~ ~•ourt m:i~• dirF~~•t, su~~h rei•ei~•~r to hm•F• :ill the ri~;hts :md ~x~.,~f~rs ~x~rmiN~~d
und~•r tht• I:~ws nf Fl~~rida.
Io ~•ithrr ~uch ~:~.f~. ~1ort~;akc~~ ur thc~ re~~ei~er may :~1~~ take ~H~sse~ssion of. :~nd (or tht:~ pur~N~w~s usc. am :~nd all
~k~r.un:+l pru~K~rty ~•hi~•h is a part of th~ 11or1K:~KcY1 Pro~x~rfy and u:ciKi by illoriKa~nr in thc renf:+l or IeasinR thereof or
:~m• p:~rt fhrn~L Th~ ~~x~rrn~e~ lincludin~ rec•ei~er's ft~s, ~•ounsel (~~es. ~~nsts :ind :+Kent's i•om~-ensationl in~•urred punuant
to tt1P (NIN'Pt'Si herF~in ~•ontained SF1:1II I/(! SPCUfP(I I1P(Fby. ;11ortKaRee shall fa(ter payment of all ~~osts and expensc~ in~urre~i)
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