The URL can be used to link to this page

Home My WebLink About0953 _1 ~~i~'~ ' ~ ~ i?ctirount to pay such charges when due ahall be paid by Mortgagur to lllortgagee on demand. 1f, by reaeon of any defaull by Mortgagor under any provision ot this Mortgage~ Mortgagee declarei aU sums secured hereby to be due aod payable, Mortgagee may then apply any funds in said account againrt the entite indebtedness secured hereby. The entorceability ot the rnverwnta relating to taxes, aesepmenta and insurance premiums herein ntherwiee provided shell not be aftected e:c~ept inrotar as tho~c obligationa bave been met by compliance with this paragrapb. Mortgegee may from time to time at ib option waive, and atter any such waiver reiru~tate, any or ull proviaions hereot requiring wch depoaita, by notice to Mortgegor in writins. While any wch wai~•er is in effect, Mortgaaor sl~all pay tasea, aa~eeu»enta and inaurance premiutzu as herein eisewhere provided. 4. To promptly pay all tazes and neeeasmente aeseseed or levied under and by virtue ot any state, federal, or municipnl law or regulation bereafter pessed, ageinat Mortgagee upon this Mortgage or the debt hereb secured, or u Y pon ita intereat under this Mortgage, provided however, that the total amount so paid for any such ta:ea pursuant to this paragraph togeth- er with the interest payable on said indebtedneas ehall not exceed the highest lawiul rate ot intereat in Florida aqd provided further that in the event o[ t6e passage of any such law or regulation imposing a tax or asreeament againat Mortgagee up- on this Mortgage or the debt secured hereby, that the entire indebtedness secured by this Mortgage ehall thercupon be- come immediately due and payable at the option of Mortgagee. 5. To keep the Mortgaged Pmperty inaurcd against lo~s or damage by tire. and all perib insured againa; by an ex- tended coverage endoraement, and auch other risb and perils as Mortgagee in i4 discretion may require. The policy or policiea of such insuranoe ahall be in the tosm in general use from time to time in the locality in which the Mortgaaed - Property is aicuaced, ahell be in wch amount as Mortgagee may reasonaMy require~ ahall be issued by a company or companies approved by Mortgagee, and ahall contain a atandard mortgagee clause with loea payable to Mortgagee. When• ever required by Mortgagee, such policiea, ahall be delivered immediately to and held by Mortgagee. Any and all amounts received by Mortgagee under any of auch policies may be applied by Mottgagee on the indebtedneea eecured hereby in such manner as Mortgagee may, in iis eole diacretion, elect or, at the option oi Mortgagee, the entire amount eo received or any part thereof may be released. I`'either the application nor the releaae of any auch amounb shsU cure or waive any default. Upon e:ercise ot the power of eale given i~ this Mort`age or other acquieition ot the Mortsaged Property or any part there- ot by Mortgagee, auch policiea ahall become the absolute property of Mort~agee. 6_ To tirat obtain the written conaent of Morigagee, such conaent to be granted or withheld At the sole discretion ot Mortaagee, betore (a) removing or demolia6ing any building now or hereafter etected on the premiaea, (b) altering the atrangement, design or atructura) c6araMer ther~ot, (c) meking any repeire which involve the removal ot structural parts or the exposure ot the inlerior of such building to the etements, (d) cutting or removing or permittins the cutting and re- moval ot any trees or timber on the Mortgaged Property, ~e) removing or exchanging any tangible pereonal property which is part ot the Mortgaged Property, or (t) entering into or modi(ying any leasea ot the Morlgaged Property. 7. To roaintain the Mortgaged Property in good cundition and repair, including but not limited to !he tnaking of such repairs as Mortgagee may from time to time determine to be neceaeary tor the preservation of the Mottgaged Property and to not commit ot permit any waate thereot. 8. To comply with all lawa, ordinances, regulationa, covenanta, conditions and restrictions a(tecting the Mortgaged Property, and not to sutfer or permit any violation thereot. ~ 9. I( Morigagor taila to pay any claim, lien or eneumbrance which ia su~~erior to this Mortqage, or when due, any taz or aseessment ot insurance premium, or to keep the Mortgaged Property in repair, or shaU commit or permit waste, or if there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto, or the interest ot Mortgagee Lherein, including, but not limited to, eminent domain and bankruptcy or ieorgenization proceedings, then Mortgagee, at ita option, may pay said claim, lien, encumbrance, tar, asseasment or premium, with right of aubrogation thereunder, may make auch repairs and take such steps as it deema advisable to prevent or cure such waste, and may appear in any auch action or proceeding and retain counsel therein. and take suc6 action therein aa Mortgagee deems ad- visable, and for any of euch purpoeee Mortgagee may advance such suma of money, including all coeta, reasonable attorney's [eea and other items of e:pense as it deems nereseary. Mortgagee shall be the sole judge of the legality, validity and priority of any such claim, lien, encumbrance, ta:, aaseasment and premium and of the amount neceseary to be paid in satisfaction ' thereof. Mortgagee shall not be held accountable for any delay in making any auch payment, which delay may result in ~ any additional interest, costs, charges, e:pensea or otherwier. f ~ 10. Mortgagor will pay to Mortgngee, immediately and without demand, all sums of money advanced by Mortgagee to protect the security hereof pursuant to this Mortgage, including all coats, reaaonable attorney's tees and other items of f e:pense, together w:th interest on each auch advancement at the highest lawful rate of interest per annum in the State o[ Fforida, and ail such suma and interest thereon ahall be secured hereby. E lI. All sums of money secured hereby shall be payable without any relief whatever from any ~•alu~tion or appraise- ment laws. I 12. If default be made in payment of any instalment ot principal or intereat o[ the Note or any part thereo( when ~ due, or in payment, when due, or any other sum secured hereby, or in petformance of any of Mortgagor'a obligationa, coven- ~ ants or agreements hereunder, all of the indebtednesa secured hereby shall become and be immediately due and payable at the ~ option of Mortgagee, without notice or demand which are hereby expresely waived, in which event Mortgagee may avail itaelt ~ ot all righta and remediea, at law or in equity, and this Mortgage may be foreclaaed with all riqhta and remedies afforded by ~ the lawa ot Florida and Mortgagor ahall pay all costs, charges and expenses thereof, including a reasonable attorney's fee, including al! auch costs, expensea and attorney's teea for any retrial, rnhearing or appeals. The indebtednesa secuted heceby ~ ahall bear intereat at the higheat lawful rate of interest per annum in the State of Florida from and after the date of any ~ such default ot Mortgagor. it the Note pro~•ides ior instalment paymenta, the Mortgagee may, at its option, collect a late ~ charge not to e:ceed two centa for each one dollar not paid to the Mortgagee when due, to reimburse the Mortgagee tor expensea in collecting and eervicing auch instalment paymenta. 13. If de(ault be made in payment, when due, of any indebtednesa secured herehy, or in performance of any ot Mortgagor's obligationa, covenants or agreement hereunder: I I (a) Mortgaqee is authorized at any time, without nokice, in its sole discretion to enter upon and t~ike ~s.geasion of , the Mortgaged Property or any part thereof, to ~~ertorm any actx Mortgagee deems neceasary o~ proper to conserve the ' secunty and to collect and receivP all renta, issues and profits thereot, including thoae paat due as well t?s those acrruing ~ therea(ter; and (b) Mortgagee shall be entitled, as a matter of strict right, without notice and e:parte, and without tegard to the value or occupancy oE the aecurity, or the soh•ency of Mortgngor, or the adequacy of the Mortgaged Property aa security tor the Note, to have a receiver appointed to enter upon and take possession of the Mortgaged Property, collect the renta and prolits there(rom and apply th$ aame aa the court may direct, auch receiver to have al! the righta and powers permitted under t6e laws of Florida. In either such case, Mortgagee or the receiver may alao take posseseion ot, and tor these purposea use, any and all personal ptoperty which ia a part of the Mortgaged Property and uaed by Mortgagor in the rental or leasing thereof or ariy part thereof. The e:penae (including receiver'a fees, counsel fees, costa and agent'e compensation) incurred pursunnt to the powera herein contained ahall be eecured hereby. htortgagee shall (a(ter payment ot aIl costa and ezpenaea incurred) -2- ~ . . . . B~~ 364 P~~E 953