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HomeMy WebLinkAbout0999 ~ -__i _ _ ' . - ,4 ~ . hereby. The enforoeability of tbe ooveaaMs ~cl~ting W uxes, assessmeuts aad i~~sucaace premiums hertin otfn~wis~ provided si,aii na be affoctod cxapt insofu as t~ose obligations t~ve been met by compliana wich this puagaph. Mortga~oe msy foom dme to time st its optioa waive, aud after aay wch waivu reinstaee. aay a all proviaioas hereof' - ~oquiriag such dcpc~sits, by notice to Matg~gor in writing. Whik any sucb waiver is in effact, Matgagor sh~ll p~y . ~ taxes. assessrnents and insurance p~+emiums as hereia elsewhe~+se pcovided. 4. To P~'o~Y PaY all taxes and assessrnents assessed or kviod under and by virtue of any state, federal. or municipsl !aw vr regnluion hertaftar pa.RSed. +~gai~st MatBagoe upon this Matgage or the debt hereby secured, a up- on its interest under this Matgage, p~ovided however, thst the tota{ anxwnt so paid for any such taxes pursuant to this paragraph together witd the iatereat payabk on said ind~btedoess shall not exoeed the highest lswful rate of interest in Florida a~nd providod further that in the eveat of the passage of any such law or rcgulat~oo imposing a tax or assessment against MatBagee upon this Matgage or the debt socurod hereby, tbat the entin indebtodness secuned by this MortSage shall thereupoa baome immediately due and payublt at th~ option of Mottgagee. S. To kap the Mortgagod P~vpeRy insurod againat lossadamage by fire, and all perils insured against by an e~eetcndod covcrge endorsement. and such other risks and perils as Mortgagee in its discretion may require.'i~e policy or policies of such insucanoe s!?a!t be in tbe form in genersl use from time to time in the locality in which th~ MatBagod ? Property is situated. shal I be in such amount at Matgaga may oesonably require. slwll be issued by a company a com- ; panies appoovod by Mortgagee, and shall contaia a statdard mortgagoe clausa with loss payabk w Mottgaga. Whene- ~ ~ . ver roquirod by Mortgagoe, such policies, shall be delivered immediately to and t~ld by Matgagce. Any and all ~ amounts ~eoeivod byMo~tgago~ unckr wy of such policies may be applied by Mortgaga on the indebtodness socured ' hereby in such manner ac Mo[tgagee may. in its sok discretioci. ekct or. at tht option of Mortgagee. the entire amount ~ so reaeived or any part thercof may be rekased. Neither the application nor the rekase of any such amounts shall cuse or waive any default. Upon exercise of the power of sak given in this Mortgage or other acy~~isition of the Matgsged r Pcopttty or aay pprt dxreof bY MortBagee, such policies shall beoome the absolute pmperty of Mortgagoe. € 6. To first obtain the written consent of Mortgagee, such consent to be g~anted a witht~eW at the sole discre- ~ tion of Mortgagae, before (a) cemovrng or demolishing any building now or htreafter erectod on the premises. (b) aiter- ~ ing the amangement. design or suuctural character thercof, (e) making any ~+epairs which involve the nemoval of suuctu- ral puts or the exposu~e of the interior of such building to the ekmenta, (d) cuuing or removing or pem~itting the Cutting and removal of any trees or timber on the Mortgaged Pr~ope~ty. (e) ~emoviag or exchanging any tangible personal prop- erty which is part of the Matgagod Propecty, or entering into or modifying any kases of the Mortgaged Pmperty. To ma+nt~n the Mortgaged Property in good condition and cicpair, including but not limitod to the making - of such rep~irs as Mortgagce may from dme to Nme determine ta be nxtssary fot th~ preurvation of tfie Mortgagod Propercy and a rat oanmic or pennic~any waste ttxreof, and Mortga~oe st~alt t~ave che right co intpxc che Mortgagcd Property on rea~onabk notia to Mat$agor. 8. To comply with all laws, ordinances. regulations. covenants, conditions and r~estrictions affecting the ; Mortgaged Propetty, and not to cause ar permit any violation thecrof. - 9. If Mortgagor fails to pay any claim, lien or encumbrance which is superior to this Mortgage. or when due, ` any tax or assessment os insuiance pnemiwn. a w ketp the Matgagod Property in repair, or shall commit or permit - waste. or if there be commenced any action or proceeding at~ecting the Mo~tgaged P~ope~ty or the tide tfiereto. or the inte~+est of Matgagee tt~ein, including, but not limited to, eminent domain and bankruptcy or roorganization pmooed- ings, then Mortgagee, at its option, may pay sa~id claim, lien, encumbrance, tax, ass~ssment or pr~emium, with right of subragation thereunder, may maka such repairs and talce such steps as it dcems advisable to pnevent or cure such waste, and may appear in any such action or procoeding and ~+etain counsel therein, and take sucb action therein as Mortgagee dcems advisable, and for any of such pucposes Matgagce may advance such sums of money, including all oosts, fea- sonable attorney's fces and other items of expense as it deems necessary. Mortgagee shall be the sole judge of the legali- ty, validity and prioriry of any such claim, lien, encumbrance, tax, assessment and pnemium and of ttie amouat noces- sary to be paid in satisfaction thec~oof. Mortgagee sha{I not be held aocountable for any delay in making any such pay- ment, which delay may r~e.wlt in any additional interest, casts, charges, expenses or othecwise. l0. Mortgagor will pay to Mortgagce, immodiately and without demand. all sums of money advanced by MoKgagce to protoct the serurity htreof pursuant to this Mortgage. inciuding all oosts. neasonable attorney's fces amd other itsms of expense, together with interest on each such advancement at che highest lawful rate of interest per annum _ allowed by the law of the Stata of Florida, and ali such sums and interest thereon st~all be securod he~+eby. ~ _ 11. All sums of money secured hereby shall be payable without any nelief 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 a~ any part thereof when due, or in payment, when due, or any other sum secur+ed hec+eby, or in performance of any of Mortgagor's obliga- tions. covenants or agroements hereunder. alf of the indeMtdness socured heteby shall beeome and be immediately due - and payabk at the option of Mortgagee, without notice or demand which are herrby expressly waived, in which event Mortgagee may avail itself of all rights and remedies. at law or in equity~ and this Mortgage may be forxlosed witl~ a!1 rights and nmodies af~orded by the Iaws of Florida and Mortgagor s6ail pay all costs, charges and eapenses ther+eof, in- ~ - cluding a reasonabk attorney's foe, inclnding a11 such casts, eapenses and attorney's fas, for any retrial, rehearing or ; appeals.llre indebtedass securod t~x~eby shall bear interest at tl~e highest lawful rate oi iniercst per annum allowed by I ~ the law of the State of Florida from and after the date of any such default of Matgagoc. If the Note provides for instal- j ment payments, the Matgagce may, at its option, colkct a Iate charge as may be provided for in the Note, to reimburse ' ~ the Mortgagee for eaptnses in coliocting and servicing such instalment payments. ~ 13. If default be made in payment, when due, af any indebtedness soc~red hercby, or in perfonnance of any of ~ Mortgagor's obligations, covenants or agretment heneunder. # (a) Mortgaget is authorizod ai anY time. witl~out notice, in its sole discretioa w enter upon and take pos- session of the Mortgagod Propecty a any pa~t fhereof, to perfam any acts Mortgagee doems_necessary or proper to con- serve the securiry and to collect and ~eceive all ronts, issues and pc+ofits thee+eof, including ttase past due as well as those ~ accruing theteafter, and ~ (b) Mortgagee shail be entided, as a matter of strict right, without notice and exparte. and without ~c- ~ gand to the value or occupancy of the socurity, or the solvency of Mortgagor, or the adcquacy of the Mat8a8~ ~nY ; - - ~ , . . ~ B~( P1GE c~ ~ ~ ~ ~ ~ _ . _ _ . _ ~ ,~F ~ryr _ - ~ _ ~ . - , _ ~ . _ _ T~~.~_:~ .