Loading...
HomeMy WebLinkAbout0956 ~ . _ _ _ ' ~ ~ ~ _ ~ ' ~ ~ y~ ~ ~ L) hereby. 'll~e enforcesbility ot the coveaaata reluing to taxes. asseasments aad insuranoe prcmiwas herein otherwise provided shall not be affectod eacept insofu u those obligstio~s have ban met by complianoe with this p~ragraph. Mortga,goe may from time to time u its option waive. aad aftec any such waivu teinstste, any ar atl provisions heroof requiring such deposits. by notice co Mortgagor in writing. Whik any such waiver is in cffect, Mcxtgagor shall pay taxes, assessmeats and insurance premiwns as berein etsewlxre provided. . 4. To promptly pay all taues and asxssments zssessed or kviod under and by virtue of any state. federal, or municipal iaw or regulation txreaRec passod. against Matgagoe upon this Mcxtgage or the debt hereby socwcd, or up- on its intercst unde~ this Mortgage. provided however. that the total amcw~t so paid for any such taxes pursuant to this paragraph togett~er with the interest psyabk on said indebtedness shall not exceod tlie highest lawful rate of inteeast in Florida and providod further that in the event of the pacsage of any such law or regulation impcuing a tax or assessrn~nt against Matgagce upon this Moitgage or the debt secuced hereby, that the entire iadebtedness secwed by this MortgagF shall thercupon become immediately due and payabk at the option of Matgagoe. ' S. To keep the Mortgaged H~ope~ty insur~od against loss oc damage by fire. and all perils iasured against by an extend~d rnverge endorsemeM. and such other risks and perils as Mortgagee in its discretion may roquire. 71~e policy or policies of such insurance shall be in the fam in general use from time to time in the localiry in which the Mo~tgaged Property is situated. shall be in such amount as Mortgagce may resanably nequire, shall be isst~ed by a company or com- ~ panies appnoved by Mortgagee, and shall contaia a standard mortgage~ clause with loss payabk to Matgagee: Whene- ver required by Mortgagee. such policies. shall be deliverod immediately to and held by Mortgage~. Any and all amounts rooeived by Matgagee unckr any of such policies may be appliod by Mortgagee on the indebtedness secured her~eby in such manner as Mottgagce may, in its sok discretion, elect or, at the option of Mortgagce. the entire amount so received or any par~thereof may be released. Neither the application nor th~ release of any such amounts shall cure or waive any default. Upon exercise of the power of sak given in this Mortgage or other acquisition of the Matgaged Propeny or any part ther~eof by Mortgagee. such policies shall bocome the absolute property of Mortgagee. 6. To first obtain the written consent of Mortgagce. such consent to be granted or withheld at the sole discre- tion of Mortgagee. before (a) removing or demolishing any bailding now or hereaft~ erocted on the qemises, (b) alter- ing the arrangement. design or swctural character thereof, (c) making any repairs which involve the removal of structu- ra! }~arts or the exposure of the interior of such building to thc ekments, (d) cutting or removing or permitting the cutting and removal of any trees or timber on the Mortgagod Property. (e) r~emoving or exchanging any tangible personal prop- erty which is part of the Matgaged Property, or entering into or modifying any leases of the Moctgaged Property. 7. To maintain the Mortgaged Property in good condition and r+epair. inciuding but not limited to the making of such repairs as Mortgagee may from time to time determine to be nxessary for the pr~eservation of the Mortgaged Property and w not oommit or permit~any waste thereof, and Mortgagae shall have the right to inspxt the Mortg~ Property on reasonabk notioe to Mortpgor. ~ 8. To comply with all laws. ordinances, regulations, covenants, conditions and restrictions affecting the Mortgaged Property, and not to cause or permit any violation thereof. 9. tf 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 Mortgaged Propecty in repair, or shall commit or permit 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, twt not limited to. eminent domain and banlccuptcy or reorganization procced- ings. then Mortgagee, at its option. may pay said claim. lien. encumbrance, tax, assessment or premium, with right of subrogation thereunder, may make such r~epairs and take such steps as it deems advisable to prevent or cure such waste, and may appear in any such action or proceeding and r+etain counsel therein, and take such action therein as Mortgagee ; deems advisable, and for any of such purposes Mcxtgagce may advance such sums of money, including all costs, rea- ! sonabfe attwney's fees and wtier items of expense as it deems necessary. Mortgagee shall be tt~e sole judge of the legali- ~ ty, validity and priority of any such claim. lien, encumbrance, tax, assessment and p~emium and of the amount neces- ~ sary to be paid in satisfaction thereof. Mortgagee shall noi be held accountable for any delay in making any such pay- ment, which delay may result in any additional interest, costs, charges, expenses or otherwise. ~ 10. Mortgagor will pay to Mortgagee. immediately and without demand, all sums of money advanced by Mortgagee to protect the security hereof pursuant to this Mortgage, including all costs, neasonable attorney's fees and other items of expense, together with interest on each such advancement at the highest lawful rate of inter~est per annum allowed by the law of the State of Florida, and all such sums and interest thereon shall be secured heceby. I 1. All sums of money secured hereby shali 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 hereby, or in performance of any of Mortgagor's obliga- tions, covenants or agceements hereunder, all of the indebtedness secur+ed hereby shall become and be immediately due and payable at the option of Mortgagoe, without notice or demand which ane hereby exp~essly waivod, in which event Mortgagee may avail itself of all rights and remedies. at !aw or in equity, and this Mortgage may be forectosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costs, charges and expenses thereof, in- cluding a reasonabk attorney's fa, including all such oosts, expenses and attorney's fas, for any retrial, rehearing or ~ appeals. The indebtedness sec•urod t~y shall bear interest at the higtxst lawful rate of intenst pu annum allowod by ~ the law of the State of Florida from and after the date of any such default of Mortgagor. If the Note pc~ovides for instal- , ment payments, the Matgagee may, at its option, colkct a late charge as may be provided for in the Note, to reimburse ~ the Mortgagce for expenses in collecting and servicing such instalment payments. _ ~ 13. If default be made in payment, when due. of any indebtedness secuc~ed hereby, or in performanoe of any of Mortgagor's obligatibns, covenants or agreement hereunder. i ~ ~ (a} Mortgagee is suthorized at an~ time, without notice, in its sole discretion to enter upon and take pos- ~ session of the Mortgaged Pc+operty or any part thereof, to perform any acts Mortgagce deems necessary or proper to con- ~ serve the soc:uity and to collect and r+eceive all c+ents. issues and profits thereof, inclnding those past due as well as those accruing thereafter, and ~ ' (b) Matgagce shall be entitlod, as a matter of strict right. withcwt notice and exparte. and without re- ~ gard to the value or occupancy of the security, ~ the solvency of Mortgagor, or the sdoquacy of the Mortgagod Property F ~42~ 9~56 i . ~ ~ ~ ~ ` : . ~ - ~ _ - - _ _ ~ _ _ . .