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Home My WebLink About0945 hereby. The enfot~eabiliry of the co~~enants relating to taxes, assessments and insurance premiums herein otherwise pruvided shatl no! be a~fected except insolar as those obligations have been met by compliance with this pardgraph. Mortgagee may Esom time to time at us option waive, and after any such waiver reinstate, any or all provisions hereof ' requiring such deposits, by notice to Mortgagor in writing. While any such waiver is in effect, Mortgagor shal! pay ~ taxes, assessments and insurance premiums as herein elsewhere provided. 4. To promptly pay alt taxes and assessments assessed or tevied under and by vinue of any state, federal, or municipal law or regulation hereafter passed, againct Mortgagee upon this Mortgage or the debt hereby secured, or up- on its interest under this Mortgage, provideJ however, that the total arnount so paid for any such taxes punuant tu this paragraph together with the interest payable on said indebtedness shall not exceed the highest lawful rate of interest in Ftorida and provided further that in the event oi' the passage of any such law or regulation imposing a tax or assessnxnt against MoRgagee upon this Moctgage or the debt secured hereby, that the entire indebtedness secured by this Mortgage } shall thereupon become immediately due and payable at the option of Morigagee. 5. To keep ~he Mortgaged Property insured against loss or damage by fire, and all perils insured against by an extended a~verge endorsement, and such other risks and perils as Mortgagee in its discretion may require. The policy ar policies of such insurance shall be in the form in general use from time to time ia the locality in which the Mortgaged Property is situated, shall be in such amount as Mortgagee may resonably require, shall be issued by a company or com- panies approved by Mortgagee, and shall contain a standard mortgagee clause with loss payable to Mortgagee. Whene- ver required by Mortgagee, such poficies, shali be delivered imme~iiately to and held by Mortgagee. Any and all amounts received by Mortgagee under any of such policies may be apptied by Mortgagee on the indebtedness secured hereby in such manner as Mortgagee may, in its sole discretion, elect or, at the option of Mortgagee, the entire amount so received or any part thereof may be released. Neither the application nor the release of any such amounts shall cure or waive any default. Upon exercise of the power oi' sale given in this Mortgage or other acquisition of the Mortgaged Propeny or any part thereof by Mortgagee, such policies shall become the absolute property of Mortgagee. 6. To first obtain the written consent of Mortgagee, such consent to be granted ~r withheld at the sole discre- tion of Mortgagee, before (a) removing ordemol~shing any building now or hereafter erected on the premises, (b) alter- ing the acrangement, design or stractural character thereof, (c) mafcing any repairs which invalve the removal oi'structu- ral parts or ttie exposure of the interior of such building to the elements, (d) cutting or removing or permitting the cuiting and removal of any trees or timber on the Mortgaged Property, (e) removing or exchanging any tangible personal prop- erty which is part of the Mortgaged Property, or entering into or modi(ying any leases of the Mortgaged Property. 7. To maintain the I4lortgageci Property in good condition and repair, inc4uding but not iimited to the making , oi such repairs as Martgagee may from time to time detem~ine to be necessary for the preservation of the Mortgaged Property and to not commit or permit any waste thereof, and Morigagee shall have the right to inspect the Mortgaged Property on reasonable noticx to Mortgagor. 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_ If Mortgagor fai{s to pay any claim, lien or encumbrance which is superior to this Mortgage, ~r when due. :I any tax or assessment or insurance Qremium, or to keep the MoRgaged Property in repair, ar sha{I commit ar permit waste, or if there be commenced any action or proceeding affecting the Mortgaged Property or the title t6ereto, or the interest of Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization proceed- ings, then Mortgagee, at its option, may pay said claim, lien, encumbrance, tax, assessment or premium, with right of subrogation thereunder, maj+ make such repairs and take such ste~s as it deems advisable to prevent or cure such waste, and may appear in any such action or proceeding and retain counsel therein, and take such action therein as Mortgagee ~ deems advisable, and for any of such purposes Moctgagee may advance such sums of money, including all costs, rea- ; sunabte attorney's fees and other items of expense as it deems necessary. Mortgagee shall be the sole judge of the legali- i ty, val+dity and priority of any such claim, 4ien, encumbrance, tax, assessment and premium and of the amount neces- ' sary to be paid in satisfaction thereof. Mortgagee shall not be held accountable for any delay in making any such pay- j ment, which delay may result in any additional interest, costs, charges, expenses or otherwise. i ' 10. R4ortgagor wilt pay to Mortgagee, immediately and without demand, all sums of money advanced by ~ Mortgagee to protect the security hereof pursuant to this Mortgage, inciudiog a{I costs, reasonable attorney's fees and ~ other items of expense, together with interest on each such advancement at the highest 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. ~ ~ 11. ~ AI{ sums of money secured fiereby shall be payabte without any relief whatever from any valuation or ap- ~ praisement laws. - ~ !2. 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- f tions, cove~ants or agreements hereunder, all of the indebtedness secured fiereby shaS{ become and be immediatety due ; and payable at the option of Mortgagee, without notice or demand which are hereby ~xpressly waived, in which event ~ Mortgagee may avail itself of all rights and remedies, at law or in equity, and this Mortgage may be f~reclosed with all ~ rights and remedies afforded by the ~aws of Florida and Mortgagor shail pay all costs, chazges and e.xpenses thereof, in- ~ cluding a reasonable attorney's fee, inc{uding a{{ such costs, expenses and attorney's fees, for any retrial, rehearing or ~ ap~eals. The indebtedness secured hereby shall bear interest at the highest lawtul rate of interest per annum allowed 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 Mortgagee may, at its option, collect a late charge as may be provided for in the Note, to reimburse the Mortgagee for expenses in coliecting and servicing such instalment payments. ~ I 3. If default be made in payment, when due, of any indebtedness secured hereby, or in perfocmance of any of f Mortgagor's obligations, covenants or agreement hereunder. € ~ (a) Mortgagee is authorized at any iime, without notice, in its sole discretion to enter upon and take pos- ~ session of the Mortgaged Property or any part thereof, to perfocm any acts MoRgagee deems necessary or proper to con- F. serve the security and to collect and receive all rents, issues and profits thereof, including those past due as well as those ~ accruing thereafter: and ~ (b) Mortga~ee shali be entitled, as a matter of strict right, without natice ard exparte, and without re- ~ ard to the value or occu anc ~f the sec~rit or the so4venc of Mort a or, or the ad uac of the Mort a ed Pro rt ~ g P' y y• Y S 8 e9 Y 8 8 Pe Y ~ ~ ~ , BO~K ~6C~ PlGE ~ ~ ~ ~ / 8s~'-°" laa.~.N~„"~ ' - µzs`.~y„~ ",~z ,s11 ~ ~ ~w ~ ~ _ _ ~n i