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HomeMy WebLinkAbout0979 , ~ he~eby. The enfarceability ot Ihe coveaants rclAting to taxes. assessments and insurance premiums herein aherwix provided shall not be aifected except insoiar u thou obligations have becn met by compliance with this paragraph. Mortgagee may from tirtK to time at its option waivt. and after any such waiver rcinstatc. any or all provisians hercof rcquiri~g such deposits, by notice to Mortgagw in writing. While any such waiver is in effect, Mortgagor shail pay taxes, asscssments and insurancc premiums as hercin etscwherc provided. 4. To promptly pay all taxes and assessments assessed or levied under and by vinut of any state, federal, or municipa! law or rcguiation hercafter pasxd, againct Morigagoe upan this Mortgage or the deM hercby securcd, or up- on its interest under this Mortgage, provided however. that the totat arrx~unt so paid for any such taxts pursuant to this paragraph together with the intercst payabk on said indebtedness shall not exceed the highest lawful rate of interest in Florida and provided funher that in the event of the passage of any such law or reguiation imposing a tax or assessment against Mortgagee upon this Mortgage or the deM securcd hercby. that the entire indebtedness securcd by this Mongage shall thereupon become imrrxdiately due and payab{e at the option of Mortgagee. 5. To keep the Morigaged Property insurtd against loss or damage by firc, and all perils insured against by an extended coverge endorsement, and such other risks and perils as Mortgagee in its dixretion may requirc. The policy or policies of such insurance shall b~ in the form in general use from time to time in the loeality in which the Matgaged Property is situated. shall be in such amount as Mortgagee may r~esonably requirt, shall be issued by a company or com- panies approved by Mortgaget, and shall contain a standard mortgagee clause with loss payable to Mortgagee. Whene- ver required by Mortgagee, such policies, shall be delivered immediately to and held by Mortgagee. Any ar~d a!I amounts roaivtd by Mongagee under any of such policies may be appli~d by Mortgagee on the indebtedness securtd hereby in such manner as Mortgagee may, in its sote discrction, etect or, at the optivn of Mortgagee, the eotire amount so received or any part thercof may be rcleas~d. Neilher the application nor the release of any such amounts shall cure or waive any default. Upon exercise of the power of sale given in this Mortgagt or other acqui~ition of the blortgaged ~ Property or aay part thcrcof by Mortgagee. such polities shall become the absolute property of Mortgagee. 6. To first obtain the written consent of Mongagee, such consent to be granted or withheld at the sole discre- tion of Mortgaget. before (a) removing or demolishing any building now or hereafter erccted on the premises, (b) alter- ing the arrangement, design or stnictural character thereof. (c) making any repairs which involve the removal of structu- ral parts or the exposure of the interior of such building to the elements, (d) cutting or rcmoving or pennitting the cutting and removal of any trees or timber on the Mortgaged Property, (e) rcmoving or exchanging any iangible personal prop- erty which is part of the Mortgaged PropeRy. or (n entering into or modifying any loases of the Mortgaged Property. 7. To maintain the Mortgaged Property in good condition and repair, including but not limited to the making of su~h rcpairs as Mortgagee may from time to time determine to be necessary for the preservation of the Mortgaged Property and to not oommit or permit any waste thertof, aod Mortgagce shall have the right to inspoct the Mortgaged Property on reasonabk notice to Mortgagor. 8. To comply with ail laws, ordinances, regulations, covenants, conditions and restrictions affecting the Mortgaged Property. and not to cause or permit any violation thercof. 9. !f Mortgagor fails to pay any claim, lien or encumbrance which is superior to this Mortgage, or when due, any tax or assessment or insurance premium, or to keep the Mongaged Property in repair, or shall commit or permit waste, or if there be commenced any action or proceeding affecting tt~e Mortgaged Property or the title thereto, or the interest of Mortgagce therein. including, but not limitsd to, eminent domain and bankruptcy or reorganization Proce~d- ings, then Mortgagee, at its option, may pay said claim, lien, encumbrance, tax, asxssment or premium, with right of subrogation thereunder. may makt such repairs and take such steps as it deems advisable to prevent or curc 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 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, taz, assessment and premium and of the amount neces- sary to be paid in satisfaction thereof. Mongagee shall not be held accountabte for any detay in making any such pay- ment, which deiay may r~sult in any additional interest. costs, charges, ezpenses or otherwise. 10. Mortgagor wifl pay to Mongagee, immediately and without demand, all sums of money advanced by Mortgagee to protect the security hereof pursuant to this Mortgage, including all costs, rcasonable 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 Iaw of the State of Florida, and all such sums and intercst thercon shall be securcd hereby. I I. All sums of money secured hereby shall 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 hercby. or in performance of any of Mortgagor's obliga- tions, covenants or agrcements hereunder, all of the indebtedness securcd hereby shall become and be immediately due and payable at the option of Mortgagce. without notice or d~mand which are hereby expressly waived, in which event Mortgagce may avail itself of al) rights and remedies, at law or in oquity, and this MoRgage may be foreclosed with all rights and remedies afforded by the laws of Ftorida and Mongagor shall pay all costs. charges and expenses thereof, in- cluding a reasonabk attorney's fa, including all such casts, expenses and attorney's fxs, for any retrial, rehearing or appeals. The indcbudrxss securod hereby shall bear interat at the highest lawfut rate of intercst per annum albwod by the law of the State of Fiorida from and after the date of any such default of Mortgagor. If the Note provides for instal- ment payments, the Mortgagae may. at its option, collect a late charge as may be prvvided for in the Note, to roimburse the Mortgagee for expenses in collecting and xrvicing such instalment payments. ! 3. if default be made in payment, when due, of any indcbtedncss secur~ed hereby. or in performance of any of Mortgagor's obligations, covenants or agrament hereunder. (a) Mortgagoe i~ authoriud at anY time, without notice, in its sole discretion to enter upon and take pos- session of the Mortgaged Property or any part thereof, to perform any acts Mortgagee deems necessary or proper to con- serve the security and to coltect and rtceive all rrnts. issues and profits thereof. including those past due as well as those xcruing thereafter; and (b) Mortgagce shall be entitled. as a matter of strict right, without notice and exparte, and without rt- gard to the value or occupancy of the security. or the solvency of Mortgagor, or the adequacy of the Mortgaged Property ~ooK5~6 PaCE 973 ~ ~ _ ~ ...s..._ , - - _ _ _ _ . _ .