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HomeMy WebLinkAbout0947 ~ . . / ~ ` ~ hereby. The eafaoeability of d~e oove~att ~etMiaj ~o tues. ~ueaaw aud iawr~ooe p~niwas~ othawi~e p vided slall not be aRa'1od esapt it~ofar at tho~e oblitationt have bed~ rnet by compliaooe with thit peaataph. 1~~ may trom time ~o tia~e N its optioa waive. aad afler aay wch waivar ~ria~tMe. any cr all qovisioa~ be~eof requirin~ sucb ~posi~~ bY notioe to Mo~t~or ia writing. Wtak any sucb wuver is ie ef~ect. Moct~+~tar:hal~ P~Y wces. auauaeott aad ins~aanoa premi+uus ss benein el~rbae povided. 4. To P~~Y WY all tues aad auaamd~ts aisessed or kvied under and by virtue of any state. foderal. or municipat law or ~egulation hp~eaRer Passed. a~ainst Mcxtgagee upon d~ Mong~e or tbe debt bet+eby sec~rod. or up- on its intenest under this Mortgage. providod lawever. that the total anxw~t so paid for any such taxes qusuant to this WnS~h togdh~ wiW tlre it~ payable on said indebte~dness slWl not exooed tbe highcst lawful rste of interest in Florida and p~ovidod fiuther that in the event of the passage of any such law or ~+egulation impcuing a wc or usessment ` against Mcxtgagee upoa this Matgage orth~ debt secw+ed ba~eby, th~t tbeeotire indebtedness secw+ed by this Mortgage . stall tl~ereupon becane.immediately due and payabk at the option of Matgagee. ~ S. To keep the Matgsged Propaty iosund againat Ioss ordam;ge by fire. and all perils insured against by an extended coveBe endo~xment. and such other risks and perils as Mo~tgagee ia its discretion may roquin. 71~e policy or policies of such iasuranoe shatl be ia the form ia geaeral use from time to time in the locality ia which tt~e Mortgagod ~'oP~~Y is situatod, shall be in such amount ss Matgagae maY r~o~waY ro9ui~: shall be issuod by acompany orrnm- panies approved by McKtgagee, and shall contain a standard nxxtgagee clause with lo5s payabk w Matgagoe. Whene- ver aoquircd by Mortgagoe. such policies, shall be deliverod immediste~y to and held by Mortgagee. Any and all - amounts roaivad by Matgagee under any of such policies may be applied by Mortgagoe on the indebtcdness secuc~ed ho~tby in such manner as Mortgagee may. in its sok disce+etion. ekct or, at the option of MoRgagce. the enti~+e amount so received or aay part thereof may be released. Neither the application nor the rekase of any such amouats shall cuc+e or waive any default. Upon exercise of the power of sak given in this Mortg~ge or other acquisition of the Mortgaged Pmperty or any part thec~oof by Matgagee, such policies shaU become the absolute pmp~~ty of Mortgagee. 6. To first obtain the written consent of Mortgagee. such conseot to be grantod or withheld at the sole discro- tion of Mottgagee, befor~ (a) removing oc demolishing any building now or hertafter ecectod on the p~emises. (b) alter- ing the arrangement. design or stcuctural character thereof, (c) making any cepairs which involve the cemoval of swetJ- ral pa~ts or the exposur~e of the interior of such bnilding to the elements, (d) cutting ar nemoviag or pennitting the cutting and removal of any trees or timber on the Mortgaged Pr~opcrty, (e) r+emoving or exchanging any tangible personal prop- t erty which is part of the Matgagad Piroputy, or entering into or modifying any kases of the Mortgagod Pr~nperty. ~ 7. To maintain the Mort a od in ood condition and re 8 8 ~P~~Y 8 pair, including but not limited to the making of such repairs as Mortgagee may from time to time deternuae to be necessary for the preservation of the Mortgaged ~t PropertY ~~o not commit or permit any waste tt~eroof, a~ Mortga~oe shall have the right w inspect th~ Mortg~od t Property on reasonabk notia to Mart~agor. 8. To comply with all laws. ordinances. ~egulations, covenants, conditions and restrictions affecting the MortBaged Pr~operty, and not to cause or permit any violation thereof. 9. If Mortgagor fails to pay any claim, lien or encumbrance which is superior to this Mortgage, or when due, any tau or assessment or insurance premium, or to kcep the Matgaged Property in repair, or shall commit or permit waste,.or if ther+e be commenced any action or proceeding affecting the Mortgaged Property or the titk thercto, or the interest of Mortgagce thenein, including, but not lirtitod to. eminent domain and bankruptcy or reorganizadon p:oceed- ings, then Mortgagee, at its option. may pay said claim. lien. encumbrance, tax, assessment or pnemium, with right of subrogation theceunder, may make such repairs and take such steps as it doems advisa~le to prevent or cure such waste, and may appear in any such action or proceeding and retain counsel therein. and take such action therein ac Mortgagee dcems advisable, and for any of such purposes Mortgagce may advance such sums of money. including all costs, rea- sonable attorney'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 claim, lien. encumbrance, tax, assessment and p+emium ar.d of the amount neces- sary to be paid in satisfaction therrof. Mortgagee shall not be held accountable for any delay in making any such pay- ment. which delay may result in aay additional interest. costs. charges, eapeoses or otherwise. 10. Mortgagor ~rill pay to Mortgagce, immediately and without demand. all sums of money advanced by ` Mortgagee to protoct the security heroof puisusnt to this Mortgage, including all costs, r+easonable attar~ey's fees and ' other items of expense, together with interest on each such advancement at the highest tawful rate of intenest per annum f allowed by the law of the State of Florida. and all such sums and intee~est thereon shall be secwed hereby. ~ ~ I I. All sums of money sccured hereby shall be payable without any relief whatever fr+om any valuation or ap- ~ praisement laws. ~ ~ 12. If default be made in payment of any instalment of principal or inttrest of the Note or any paR thereof when due, or in payment. when due, or any other sum secured hemby. or in performance of any of Mortgagor's obliga- . ~ tions. rnvenants or agroements hereunder. all of the indebtedness secured hereby shall become and be immediately due and payabk at the c~ption of Matgagee, witbout notice or demand which ar~e hereby expressly waivod, in which event ~ Mortgagee may avail itself of all rights and r+emodies, at law or in oquity, and this Mortgage may be foreclosed with all ; rights and remedies affaded by the laws of Florida and Mortgagor shal: ~y a!1 costs, charges and expensec thereof, in- ~ cluding a reasonabk attorney's fa, including all such ooats, expenses and attorney's fas, far any ntrial, rehearing or ~ appeals. Tbe indebtodn~ss ~axarod lxxeby st~all bear intercst at tha higtkst lawful rate ot intercst per a~u~um 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 Mortgaga may, ai its option, colkct a Iate charge as may be providod for in the Note. to ~eimburse ~ the Mortgagee for expenses in collecting and servicing such instalment payments. 13. If default be made in payment, when due. of any indebtodness secured hereby, or in pe~formanoe of any of Mortgagor's obligatians, covenants or agreement he~+eunder. ` (a) Mortgagoe is authorized at an~r time. without notice, in its sok discnetion to enter upon and talce pc?s- ~ session of the Mat8a8od PropenY or any part thereof, to perform any acts Mortgaget doems nax,-ssary a proper to con- ~ serve the security and to colket and roceive all reots. issues and p+ofits thereof, including those pau due as well as those ~ accruing thereafter. and ~ ~ (b) Mortgaget shall be entitlod, as a matter of urict right, without notioe and ex Y gard to tbe value or oocupancy of the soc~uity, or the solvency of Mortgagor, or the uac of the~M without r+e- ~ ~9 Y ~BaB~ ~nY ~ g~ 419 947 ; ~ . . , ~ ~i . ~ .