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4 Insurance. Borrower shall keep the Ptnp~tycc~st~t!'+ i~wed against loss by fire with extended coverage in an
amount acceptable to Lender and so as to aaoid any claim on the part of the insurers for coinsurance, and in addition shall keep
in full force and effect policies of insurance insuring against such other hazards, casualties, and contingencies as Lender may
require, including, but not limited to, Flood Insurance and Pioperty Damage Insurance. All insurance required by Lender shall
be with an insvrance company acceptsble to Lender and shall be oa such forms, for such periods, and in such amounts as
i.ender may require with loss payable to the Lender under e clause acceptable to Lender in its sote discretion, and which shall
include a minimum of thirty (30) days advance notice of cancellatinn.
5. Condemnation. Borrower shall immediately notify Lender of any condemnation action orother governmental taking
involving the Property. Borrower hereby authorizes Lender as attorney-in-fact for Borrower to, at Lendet's option, ,
commence, appear in and prosecute, in Lender's or Borrower's name, any aciion or proceeding relnting to such taking of the
Yroperty and to setde or compromise any claim in connection with such condemnation or taking. The proceeda of any award or
claim for damages in connection with any condemnation or other taking of the Property, or for conveyance in lieu of
condemnation, are hereby assigned and shall be paid to Lender.
6. Use and Alteration of Property. BorroA+er
sh~tAl tfot allow c~anges in the nature of the occupancy for which the
Yroperty was intended at the time this Mortgage was executed. Without the prior written consent of Lender, Borrower shall
r.ot structurally remove any improvement, nor may Borrower materially structurally alter any improvement that would `
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decrease its value.
7. Waste and Mechanics' Lien. Borrower shall keep the Property constantly in good order and repair; shall comply
µ•ith all laws, ordinances, and regulations now or hereafter affecting the Property or any part thereof; and shall not permit, `
~uffer or commit any waste, impairment or deterioration of said Property or any part thereof. In addition, in the event any
mechanics' or materialmen's liens are filed against the Property, Borrower shall immediately cause the same to be discharged
~r otherwise satisfied.
8. Protection of I.ender's Security. Bonower shall execute and/or cause to be executed such further assurances of
title to the Property, and to take and cause to be taken, such steps, including legal proceedings as may at any time appear to the
Lender to be desirable to perfeci the title to the ~rq~erjy " t~ Len r. pon a failure or default in or breach of perfornnance
uf any of the covenants and agreements contain'ed~herei~'or'Sn t~e~ ~ Mortgage, the Lender may, without notice to the
i3orrower, pay all taxes, assessments, principal and interest instaliments in default under the First Mortgage, and public ~
charges, and/or take such steps as may be necessary to secure or redeem the Property froin forfeiture,foreclosure, and/or sale, ,
and; or effect or renew any insurance, and/or make such repairs as may be necessary to keep the Property in good order and ~
repair and/or take or cause to be taken, such steps, including legal proceedings, as may be desirable to prevent the commission
of waste, impairment or deterioration of the Property, or to perfect the title to the Property in the Lender, and/or to perform
am~ other acts or expend such other sums deemed necessary by Lender to protect its security for the repayment of any loan ~
,~dvances incident to the Credit Agreement, and all sums expended in the doing of or on account of the same, shail be a part of =
the debt secured by ihis Mortgage, and shatl bear interest at the highest legal rate permitted by law to be charged by Lender
from the date of the expenditure thereof and shall together with the interest thereon, be repaid by the Borrower before the ~
ex~iration of a period of thirty (30} days thereafter. But there is no obligation upon Lender to make such payments or take such
~teps, nor shall any act af Lender or any failure to act under the powers granted by this paragraph 8, nor any lapse of time, be
construed as the waiver of any breach of the covenants and agreements contained herein.
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8. Civil Proceedings. If any action or proceeding is commenced (eacept an action to foreclose this Mortgage or to '
collect any loan advances secured hereby), to which action or proceeding Lender is or becomes a party or in which it becomes
necessary to defend or uphold the lien of this Mortgage (inclvding to protect its interests in any condemnation proceedings),
at~ sums paid by Lender for the expense of any litigation ~including reasonable attorneys' fees and appellate counsel fees if
any) to pmsecute or defend the rights and lien created by this Mortgage shall on notice and demand be paid by Borrower,
together with interest thereon at the highest legal rate permitted by Iaw to be charged by Lender, and shall be a lien on the
Property, prior to any right or title to, interest in or claun upon the Property subordinate to the lien of this Mortgage, and shall
be secured by this Mortgage.
10. Inspections. Borrower agrees that Lender and any person authorized by Lender shall have Lhe privilege of making '
inspections of the Property at reasonable tirnes during the life of this Mortgage.
11. Fina.acial Information. Upon request~f ~e~de~ Borr~w~ shatl promptly furnish Lender a statement of his
r"~nancial condition, in form satisfactary to Lender.
12. Future 4dvat~..es. In addition to the Credit Agreement (and the credit limit set forth therein) referred to herein,
~his 1~lortgage shall also secure any future advances in excess of the original credit limit set forth in Recital A of this Mortgage; ;
:~~hich future advsnces shall be made at Lender's option and which shall not exceed a maximum credit limit of three (3) times
said origina( credit [imit. All such future advances shali be made within the time limit authorized by Florida law for making
~•alid future advances, and atl indebtednesses and interest created by virtue of such future advances shall be and are secured
hereby. Atl provisions of this Mortgage shall apply to any future advances made pursuant to the provisions of this paragraph
12.
13. Intervening Liens. Any agreement hereafter made by Borrower and Lender pursuant to this Mortgage shall be
~~.~perior to the rights of the holder of any intervening tien or encumbrance.
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14. Waiver. No failure of Lender to exercise any option herein given ta deciare the maturity of any loan advances
hereby secured shalt be taker~ or construed as a waiver of its right to exercise such option or to declare such maturity by reason
at?."~( PAGE V's~ . '
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