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HomeMy WebLinkAbout0960 . , 4. I'c~ prompUy pay all taxes and assseuments nssessed ot levird un~ier xrn1 by vittue of any state, [ederal, ot munia'~l~w or regulatiun hereaftcr passtd, against Mo~tgag~ upon this Idortgnge or the debt hercby secuced, or upun its intercst under this Mortgage, p[ovidcd howe~er, ihat the total amount so paid for any such tues pursuant to this puagraph together with the interest payabk on said indebtedncu sfull not excead the highest lawful ratz of incerest in E'lorida and provided fu~ther that in the event of the passage of any such law or regulation imposing a tan or assessment against Mortgagee upon this Mortgage or the debt secured hereby, that the entire indebtedness securtd by thit Mortgage shall thereupon bc:ome immediately due and payabk at the option oC Mortgagee. 5. To kcep the Mo~tgaged Pcoperty iatured against loss or damage by fue, and all perik insured against by an extended covenge endorso- ment, and such other ruks and perils as Mortgagee in iu discretion may require. The poticy or poticies of such insurana shall be in the form in general use from time to time in the locatity in which the Mortaaged Property is situated, shall be in such amount u Mortgagee may reasonably require, shall be issued by a company or companies approved by INortgagee, and shall contain a standud mortgagee clause with bss payabk to Mortgagee. Whenever required by Mortgagee, such poGcies, shall be deiivered immediately to and held by Mortgaget. My and all amounu received by Afortgagee under any of such poticies may be applied by Mortgagee on the indebtedneu securcd hereby in such manner as Mortgagee maY, in its sole discretion, ekct or, at the uption of Mortgagce, the entire amount so received or any put thereof may be released. Neithet the application nor the release of any such amounts shall cure or waive any default. Upon exerase of the power of sale given in this Mortgage or other acquisition of the Mortgagcd Property or any part theraof by Martgagee, such po6cies shalt become the absolute property of Mortgagee. 6. To fint obtain the written consent of Mortgagee, such consent to be granted or withheld at the sok discretion of Moctgagee. before (a) removing or demolishing any building now or hereafter erected on the premises, (b) aitering the urangement, design or structural character thereof, (c) making any repairs which invoive the remoral of structural parts or the exposure of the interior of such building to the elemenb, (d) cutting or removing or permitti~ the cutting and removal of any trees or timber on the Moitgaged Property, (e) removing or exchanging any tan8bk personal property which is part of the Mongaged Property, entering into or modiCying any kases of the Mortgsged Property or (g) join in or consent to any change in zoning of the Mortgaged Property. 7. To maintain the Mortgaged Property in good corniition and repair, including but not limited to the making oC such repairs u Mortgagee may from time to time determine to be necessary for the preservation of the Mortgaged Property and to not commit or petmit any waste thereof; II and Mortgagee shaU have ihe right to intpect the Mortgaged Property on reasonabk notice to Mottgagor. I 8. To comply with all laws, ordinances, regulations, covenants, conditions and restrictions affecting the Mortgaged Property, and not to cause or permit any violauon thereof. 9. !f Afortgagor fails to pay any claim, Gen or encumbrance which is superior to this Mortgage, or when due, any tax or assessment or insurance premium, or to keep the Moatgaged Property in repair, or shall commit or permit w~te, or if there be commenced any acUon or pro- ceeding affecting the Mortgaged Property or the titk thereto, or the interest of Mortgagce theroin, including, but not limited to, eminent domain and bankruptcy or reorganization proceedings, then Mortgagee, at iu option, may pay said claim, tien, encumbrance, tax, aues.unent or premium, with right of vibrogation thereunder, may make such repairs and take such steps as it dcems advisabte to prevent or cure such wute, and may appear in any such action or proceeding and retain rnunsel therein, and take such actioa therein u Mortgagee dcems advisabk, and for any of such purposes Mortgagee may advance such sums of money, including all rnsts, reasonabk attorney's fets and other items of expenx as it deems nec- essary. Morigagee shall be the sole judge of the legality, vatidity and priority of any such claim, lien, encumbrana, tax assessment and premium and of the amount necessazy to be paid in satisfaction th=reof. Mottgagee shall not be held accountable for any dday in making any such payment, which delay may result in any additional interest, costs~ charges, expenus or otherwise. 10. Mortgagor will pay to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagee to p[otect the security hereof punuant to this Mortgage, including all costs, reasonable attorney'~ fees and other items of expense, togeiher with interest on each such advancement at the highest lawful rate of intecest per annum allowed by the law of the State of Florida, and all such sums and interest thereon shall be secured hereby. ! 1 l. AQ sums of money secured hereby shall be payabie w~thout any re~ef whatever from any valuation or appraitement laws. I ~ 12. If default be made in payment of any iiutalment of principal or interest of the Note or any part thereof when due, ot in payment, f when due, or any other sum secured hereby, or in performance of any of Mortgagor's obligations, covenants or agreements hereunder, all of ihe ~ indebiedness secured hereby shall become and be immediately due and Qayabk at the option of Mortgagee, w•ithout notice or demand which are f hereby expressly waived, in w•hich event Mortgagee may ar•ail itself of all rights and remedies, at law or in equity, and this INorigage may be foro I closed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay afl costs, chuges and expensts thereof, including a f reasonable attorney's fee, inciuding all such costs, expenses and attorney's fees for any ntrial, rehearing or appeah_ The indebtedness secured hereby shall bear interest at the highest lawful rate of interest per annum allowed by the law of the State of Florida from and after the date of any ~ such default of Mortgagor. If the Note provides fot instalment payments, the Mortgagee may, at its option, collect a late charge as may be pro- vided for in the Note, to reimbutse the Mortgagee for expenses in collecting and servicing such instalment payments. ~ 13. If deCault be made in payment, when due, of any indebtedness secured hereby, or in performance of any of Mottgagor's obGgatio?u, ~ covenants o~ agreement hereunder. ~ (a) Mortgagee is authorized at any lime with notice, in its sole ducretion to enter upon and take possession of the Mortgaged Property or any pazt thereof, to perform any acts :Nortgagee deems necessaty ar proper to conserve the security and to collect and recesve all renu, issues and profits thereof, inctuding those past due as w•etl at those accruing thereafter, and (b) Mortgagee sha!! be entitled, as a matter of strict right, without notice and exparte, and without regard to the value or occupancy of the security, or the solvency of Mottgagor, or the adequacy of the Mortgaged Propetty as security for the Note, to have a receiver appointed to enter upon and take possession of the Moctgaged Property, collect the rents ar.d profits therefrom and apply the same az the court may direct, such receiver to have all the rights and powers permitted under the laws of Ftorida. In eithet such case, Mortgagee or the receiver rnay alto take possession of, and for these purposes use, any and all personal property which is ~ a part of the Mortgaged Property and used by Mortgagor in the rental or ka.ting thereof or any part thereof. The expenst (including ra:tiver's ~ Cees, counsel fees, costs and agent's campenution) incurred pursuant to the powers herein contained shall be seewed hereby. Mortgagee shall S lafter payment of all costs and expenses incuned) apply such rents, issues and profits received by it on the indebtedne,is secured hereby in such ~ order as Mortgagee determines. The right to enter and take posussion of the Mortgaged Property, to manage and operate the same, and to co(lect ~ the rents, issues and profits thereof, whether by a r~ceiver or otherwise, shall be cumulative to any other right or remedy hereunder or afforded ~ by law, and may be exercued concurrenUy therewith or indepe~denUy thereoL Mortgagce shaU be liabk to account only for such rents, issues and profits actually received by Mortgagee. ~ 14. If the indebtedneis secur~d hereby is now or hereafter furtha secured by chattel mortgages, security interests, financing statements, ~ pledges, contracts of guarantv, assignments of leases, or other su:urities, or if the Mortgaged Property hereby encumbered =onsists of more than one parcel of real property, Mortgagee may at its option exhaust any one or more of said securities and security hereunder, or wch parveLs of the ~ security hereunder, either concunently or independently, azx1 in such order as it may determine. ~ 15. This Mortgage shall secure not only existing indebtedness, but a(so such futute advances, whether such advances ate obligatory ot to be ~ made at the option of Mortgagee, or otherwise, as are rr~ade within twenty (20) years from the date hereof, to the same extent as if such future ~ advances were made on the dau of the execution of this Mortgage, but such secured indebtedness shall not exceed at any time the maximum ~ a~~~t~~?U Y~6E ~Q ~ -z- - ~ . ~n~ _w~_..~ :W.. _r_- `-~.~.~~j ~=~r:~