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HomeMy WebLinkAbout0977 _ _ . _ ' . _ _ . _ _ _ - - hereby. 7t~c enforceability of the covenants rclating to taxes. asscssme~ts and inwrance prcmiurru herein othervvise provided stwll nd be affectod except insofu as tl~ose obligations have ban me~ by compliance with this puagraph. Matgagee may from time to time at its option waive. and after any such waiver reinatate, any or all provisions he~eof rcquiring such deposits. by ootia to Mortgagor in wtiting. Whik any such waiver is i~ effoct~ Maigagor shall pay taxes. assessmenu and insurar~ce premiums as he~+ein elsewhene provided. ~ 4. To promptlY paY a11 taxes and assessments assessed or kvied under and by virtue of any state. tederal, or municipal law or rtgulation hereafler passod, againat Matgagee upon this Mortgage or the debt hereby securod. or up- on its interest under this Matgage. providcd however. that the total amcwnt so paid for any such tazes pursuant to this , paragraph togethet with the interest payable on said indebtodn~ss shall not exceod the highest lawful rate of interest in Florida and pr~vided furiher that in the event of the passage of any such law ot rcgulation imposing a tax or assessment against Mortgagee upon this Mortgage or the debt securod hereby. that the entire indebtcdneu securod by this Matgage shall thereupon become immodiately due and payabk st the option of Matgagee. S. To keep the Mortgaged Property insur~ed against loss or damage by fire, and al l perils insured against by an exterxied coverge enciorsement. and such other risks and perils as Mortgaget in its discretion may rcquire. The policy or policies of such insurance shall be in the fam in general use from time to time in the locality in which the Mortgaged Property is situated. shall be ia such amount as Mortgagee may resonably require, shall be issuod by a company or com- . panies approved by Morigagea. and shall contain a standard matgagee clause with loss payabk to Matgagee. Whene- ver required by Mortgagce, such policies, shall be deliverod immediately to and held by Morigagoe. Any and all amounts rcaeivod byMortgagoe under any of such policies may be applied by Mortgagee on the indebtedness secured hereby in such manner as Mongagee may. in its sole discretioo. ekct or. at the option of Mortgagee. the entire amount so received or any part the~eof may be c+eleased. Neither the application nor the release of any such amounts shall cure or waive any default. Upon exercise of the power of sa:e given in this Mortgage or other acquisition of the Mortgaged Property or any part the~eof by Mortgagee. such policies shall baome the absolute property of Matgagoe. ' 6. To first obtain the written consent of Mortgagee. such consent to be granted or withheld at the sole discrc- tion of Mortgagee. b~fore (a) removing or demolishing any building now or hereafter erectod on the pr~emises, (b) alter- ing the artangement, design or swctural character thereof. (c) making any repairs which involve the reinoval of swctu- ral paztc or the exposure of the interior of such building to the elements. (d) cutting or removing or permitting the cuning a~d removal of any trees or timber on the Mortgaged ~r~opehy, (e) rcmoving or exchanging any tangibk personal prop- erty which is part of the Matgaged Propcrty. or entering into or modifying any leases of fhe Mortgaged Propeny. 7. To maintain the Mortgaged Property in good condition and r~epair, including but not limited to the making of such repairs as Morigagee may from time to time determine to be necessary for the preservation of the Mortgaged ~ Propeny and W noi commit or permit any waste thereof. and Mortgaget shal! have the right to inspxt the Mortga~od ' FropertY on reasa~abk notia to Matg,agor. . 8. To corqply with all laws, ordinances, regulations. covenants, conditions and restrictions affecting the Mortgaged Property. and not to cause or permit any violation thereof. ~ . 9. If Mortgagor fails to pay any claim, lien orencumbrance which is superior to this Mortgage, or when due, any tax or assessment or insurance premium. or to keep the Mortgaged Pr~nperiy in repair. or shall commit or pennit waste, or if there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto. or the interest of Mortgagee therein. including. but not limited to. eminent domain and bankruptcy a rcorganiTation procood- ings, then Mortgagee. at its option, may pay said claim, lien. encumbrance, tax. assessment or premium. with right of subrogation thereunder, may make such repairs and take such steps as it deems advisable to prcvent or cure such waste. ' and may appear in any such action or proceoding and retain counsel therein, and take such action therein as Mortgagee li deems advisable. and for any of such purposes Mortgagee may advance such sums of fioney. including all costs. rea- sonable attomey's fees and other items of expense as it deems necessary. Mortgagee shall be the sole judge of the legali- ty. validity and priority of any such cfaim. lien. encumbrance. ca~c~ assessment and premium and of the amount neces- ~ sary to be paid in satisfaction thereof. Mortgagee shal) not be held accountable for any delay in making any such pay- ment, which delay may r+esult in any additional interest, costs. charges. ezpenses or otherarise. ~ 10. Mortgagor will pay to Mortgagee, immediately and without demand, all sums of money advanced by Mortgagce to protect the security hereof pursuant to this Mortgage. including all costs, reasonable attomey's fees and other items of expense, together with interest on each such advancement at the highest lawful rate of interest per annum allowed by the law of the State of Florida, and all such sums and interest ther+eon shall be secured hereby. 11. All sums of money secured hereby shall be payable without any relief whatever from any valuation or ap- praisement laws. 12. If default be made in payment of any instalment of principal or interest of the Note or any part thereof when due, or in payment. when due. or any other.sum secured hercby, or in performance of any of Mortgagor's obliga- tions, covenants or agrcements hereunder, all of the indebtedness secured hereby shall bocome and be immediately due and payable at the option of Matgagce, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itself of all rights and remedies, at law or in equity, and this Mortgage may be forcclosed with all rights and remedies affordod by the laws of Florida and Mortgagor shall pay all costs, charges and expenses thercof, in- cluding a reasonabk attorney's fee. including aU such oosts, expenses and attorney's feas, for any retrial, rehearing a appeals. The indebtodness socurod hereby shall bear interest at the higtxst Iawful rate of interest per annum allowod by the law of the State of Florida from and after the date of any such default of Mortgagor. If the Note provides for instal- ment payments, the Mortgagee may, at its option. collat a late charge as may be provided for in the Note, to reimburse the Mortgagee for expenses in collecting and xrvicing such instalment paymenu. I 3. if default be made in payment. when due, of any indebtedness secured hereby, or in performance of any of Mortgagor's obligations. covenants or agroement hereunder. (a) Mortgagce is authorizod at an~ time, without notice, in its sok discretion to enter upon and take pos- session of the Mortgagod Property a any part thercof. to perfotm any acts Mortgagee dcems necessary or pnoper to con- serve the security and to collect and r~eceive all rcnts, issues and profits thereof. including those past due as well as those accruing thereafter, and (b) Mortgagce shall be entitled, as a matter of strict right, without notice and expacte, and without rc- gud to the value or occupancy of the security. or the solvency of Mortgagor, or the adequacy of the Mortgagod Propeny 8001("`'.~ PAC . E ~