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Home My WebLink About0939 . _ ` ' ~ • ~ 4? ~i • ' : ~ i '~~..r he~eby. 'il~e eafaroeability of the co~?~nants oel~tin~ Eo taxes. ~a~ts and insurmoa p+emiwat hq~eiu atbetwise provided siWl not be affacted except i~~sofar ~ thae abli~atioas have bea~ met by oomplisnoe with this p~ngraph. Ma~t;a~ee may trom time ~o time at its optioa wsive. aad afler aay wcb waiva reia:taee. any a dl qovuia~ he~eof' rocWirinB such depQSits. by notia to Matgagor in writing. Whik aay such waiver is ia ef~ett. MaRgagor ahall Pay taxes, ~sesame;Ats aad iasuranoe q+emiuau ~ M~eia et:ewha+e provided. 4. To P~P~Y WY all taxes and aaseasmeats asaessed or kviod under and by virtue o[ any state. foderal. ar municipRl law or regu'latioa hereaRe,c p~ssed, against MoRgagee upon this Mwtg~gc or the debt hereby secw~ed, or up- on its inteoest under this Mortgage. pmvided how~ever. thu thc total am~wnt so p~id far my such taxes pursuant to this ~ paragraph togettKt with the i~Kerest payabk oa aaid u~debtod~ss stull not exoeed tbe highest lawful rate of interest in Florida and p+ovided further that in the event of the passa,ge of any such law or regulation imposi~g a wc or assessment ~ againat Matgaga upon this Mortg~ge or the debt socurod l~e~eby, that tt~e entu~e indebtedness secured by this Matgage shafl thereupo~ become immediately due and payabk at the option of Matgaga. S. To koep tl~e Mortgaged PropeRy insured against loss ordamege by fire. and all perils insured against by an extended coverge endorsement, and such otber risks and perils as Mongagce ia its discrction may oequic~e.llx p~licy or policies of such inwrance shall be in the form ia general use from time w time in the Iocality in which the Mortgaged Property is situated. shall be in such arraunt as Matgagee may resonably roquir~e. shall be issued by acompany orcom- panies approved by Mortgaga, and shall contain a standard moctgage~ clause with toss Qayabk to Mongagee. Whene- ver required by Matgagee. such policies. shall be deliverod immediately to and held by Mortgagee. Any and all amounts reaiwod by Mortgagce under any of such policies may be appliod by Matgagee on the indebtodness secured hereby in such manner as Mottgagee may, in its sok discretion, ekct or. at the option of Matgagoe. the entire amount so received or any part thereof may be rekased. Neither the apptication nor the release of any such amounts shail cune or waive any default. Upcm exercise of the power of sale given in this Mortgage or otlrer acquisition of the Mortgaged Property or any part theeoof by Mo~tgagee, such policies shall bxortie the absolute pc~operty of Moitgagoe. 6. To first obtain the written consent of Mortgagee. such consent to be granted or withheld at the sole discre- tion of Mortgaga, befo~ (a) removing or demolishing any building now or hereafter enxted on the premises, (b) alter- ing the arTangement. design or swctural character theroof, (c) making any r~epairs which involve the nemoval of structu- ral parts or the exposure of the interior of such buildiag to the ekments, (d) cutting or removing or permitting the cutting and removal of any trees or timber on the Matgaged Pr~operty. (e) ~cmoving or exchanging any tangible personal pro~ erty which is part of the Matgaged Pooperty, or entering into or modifying any lesses of the Mortgaged Propeny. 7. To maintain the Mortgaged Pi~operty in good condition and repair. including but not limited to the making of such repairs as Mortgagee may from time to time deternune to be necessary for the pneservation of the Mortgaged PropertY and to not aanmit ar permit any waste theroot, and Mortga~oe shall have the right to inspect the Mortga~od Propaty on reasonabk notioe to Matpgor. 8. To comply with all laws, adinances, regulations. covenants, conditions and restrictions affecting the ~ Mortgaged Property, and not to causc or permit any violation thereof. . 9. If MoRgagor fails to pay any claim. lien or encumbrance which is superior to this Mortgage. or when due. any tax or assessment or insurance premium. or to keep the Mortgaged Property in ~+epair, or shall commit or permit waste, or if there be commenced any action or prnc.~eeding affecting the Matgaged P~+operry or the title thereto. or the interest of Mo~tgagee tt~erein, including, but not limited to. eminent domain and baniwptcy or reorganization proceed- ings, then Mortgagee, at its option, may pay said claim, lien, encumbrance, tax. assessment or p~emium, with right of subrogation thereunder. may make such repairs and islce such steps as it deems advisable to prevent or cun such waste, and may appear in any such action or proceeding and retain counsel thercin, and take such action therein as Mortgagee ~ deems advisable, and for any of such purposes Mortgagee may advance such sums of money, inclading all costs, rea- sonable attorney's fees and other items of expense as it doems necessary. Mortgagce shall be the sole judge of the legali- ty, validity and priority of any such claim, lien, encumbrance, tax, assessmeat and premium and of the amount nece.c- ; sary to be paid in satisfaction thereof. Mortgagee shall not be held accountable for any delay in making any such pay- ~ ment, which delay may nesult in any additional interest, costs, chazges, expenses or otherwise. ~ 10. Mortgagor will pay to Mortgagce, immediately and without demand. all sums of money advanced by ~ Mortgagee to protect the security hereof pursuant to this Mortgage, including all caats, reasonabk attorney's fces and ~ other items of expense, together with interest on each such advancement at the higF~est lawful rate of interest per annum ~ allowed by the law of the State of Florida. and all such sums and interest thereon shall be secured hereby. ~ 1 I. All sums of money secured hereby shall be payable witt~out any r+elief 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 dher sum secured hemby, or in perfonr~ance of any of Mortgagor's obliga- tions. covenants or agrrements her+eunder, all of the indebtodness secured hereby shall bocome and be immediately due and payable at the option of Mortgagoe, withournotice or demand which are hereby exprasly waivod, in which event Mortgagee may avail itself of all rights and remedies, at law or in equity, and this Mortgage may be foneclosod with all rights aad remedies afforded by the laws of Florida and Mortgagor shall pay all costs, charges and expenses tt~eceof, in- cluding a reasor~abk attorney's fee, including all such oosts, eape~ues and attomey's foes, tor any retrial, retxaring or p appeals. The iodebtodckss sewrod lx.reby shall bcar interest at the 6ighest tawful rate of intuest per annwn allowed by the law of the State of Fiorida from and after the date of any such default of Mortgagor. If the Note provides f~ instal- 3 ment paymenis, the Mortgagee may, at its option, collect a late charge as may be pmvided for in the Note. to roimburse the Mortgagee for expenses in collecting and ~ervicing such instalment payments. ~ 13. If default be made in payment, when due, of any indebtodness secured 6enby, or in pedom~ance of any of Mortgagor's obligations, covenants or agroement hereunder. (a) Matgagoe is auttariud at anY tirne. without notice, in iis sok disc~ttion to enter upon and take pos- ~ session of the Mort8a8~ ~~Y or any part the~oof, to perform any acts Mortgagee deems n~cessary or proper to con- serve the security and to colkct and raxive all rents. issues and profits theroof, including those past due as well as those accruing thereafter, and (b) Mortgaga shaU be entitled. as a matter of strict right. without notice and exparte. and without re- gard w the value oroocupsu~cy of the sccurity. orthe solvency of Mortgagor. or the adeqnacy of the MortB~ ~'oP~*~Y e g~~~~ Par . t ! , , ~f j~ s ~