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HomeMy WebLinkAbout0924 he~cby Thr cnforcCability of tht covcnants rrlating to laxes, assessmcnts arui insurancc premaums Ixrc?n cKhcr~+i~e prc~v~ded shall n~~i tx aflecttd except in~ofar as ttwst obhgaUans havt txtn mel by compiian.t w~th th+s paragraph WOIVP ~nd af~~r anv such wa~ver remctate. anv or all Drovis~ons herco( ,=.~~;:g..~.. ~ _ _•r------ - - rey~inng tiuch depo~~ts, by nouce ~c~ Mongagor ~n wnUng White any such wa~r•tr is in effrct. Mortgsgor shall pay taxc~. assessments arxi insurance prcm~ums as txrcin elsewherc prov~dccl. 3 Tu promptl~ pay all taxe~ and ati~tssnxnts a~ses~J or levied under and by v~rtue of any ~tatc, fcucraL or - mumcipal law or regulation hereafter passed, aga~nst Mongage~ upon thss Mortgage or thc debt htrcby securcd, o; up- ~,r, ~t. interc.t under thi~ Murtgage. pmvided however, that the total arrKwm ~o paid for any such taxe~ pu~sua~~ to thi~ paragraph tugethrr w it~ the mterest payable on ~auf indebtedness shall not exceed the highest lawfu! rate of inter~st +n Fl~snda an~ pn~vided further th~t ~n thr rvent uf the pas~a~e of any wch law or regulaUon ~mpo~ing a iax ur asses~ment again.t ~iungagee uEx~n thi~ Mongage or the debt secured here~y, that the ent~re indebtedness ~ecurcd by th~s Mortgage ,h~il ~hereupon hecame immed~ately due and payaole at the opuon of tilortgagee > To keep the Mongaged Pruperty insur=d against ioss or damage by fire, and aU ptnls ~nsured against by an e~ren~ie~f ~u~erEr endvr,ement, ~nd ~uch other nsks and penis as Mortgagee in ~ts discreuon may require. l~he policy or policie~ of such ~nsuran~e shail be in the form in general use from t~me to t~me ~n the Eocality in which the Mortgaged Propeny u~iwated, shail be in such amount as Mortgag~e may rcsonably requ~re, shaN be issue~ by a company or rom- panies aQproved by Mortgagte, and shali contain a standard mortgagce clause with loss payable to Mongagee. Whene- ver requ~red by Mortgagce, such policies, shall be delivercd imme~diately to and held by Mortgaget. Any and all amounts roaived by 1~lortgage~ und~-r any of such policics mav be applitd by Mongagee on the i~v.iebttdntss securcd hereby in such manner as Mortgagee may, in its solt discretion, eicet or, at the option of Martgagee, the ent~re arrwunt so received or any part thereof may be released. ;Veither the applieation nor the mfease of any such amounts shall cure or wa~ve any default. Upon exercise of the power of sale given i~~ ihis Martga~e or other acquisition of tfie Martgaged F'roperty or any part thereof by Mortgage~, such policias shalt becom~ the absolute propeny of Mo~tgagee. 6. To first obtain the written consent of Mortgagee, such consent to be granted or withheld at the sole discre- ' tion of Mortgagee, befo:e (a) removing or demolish:ng any building now or hercafter erccted on the prcmises, (b) alter- ~ ing the aRangement, design or structural character thereaf, (c) making any rcpairs which involve the removal of structu- ! ral parts or the exposu~e of the interior of such building to the elements, (d) cutting or removing or petmitting the cut~ing i ~P..,~,ya1 nf any trees or timber on the Mortgaged Pr~opetty, (e) rcmoving or exchanging any tangible personal prop- ' erty which is part of the Mortgagai Prope~ty, Qr (n entering into or modifying any Icases of the Mortgagai Property. 7. To maintain the Mortgaged Property in good condition and reRair, including but nw limited to the making ~ of such repairs as Mortgagee may from time to time dctermine to tx n~cessary for the prescrvation of the Mortgaged ; Property an~ to not oommit or permit any waste theroof, and Mortgagoe s[hall have the rig'ru to inspect the Mortgaged ~ Property on reasonabk rxuioe to Mortgagor. ~ I 8. To comply with all iawti. ordinances, regulations, covenants, conditions and restrictions aftecting the ' Mortgaged Property, and not to cause or permit any violation thereof. 9. If Mortga~or fails to pay any claim, iien or encumbrance w~hich is supenar to this Mor!gage, or when due, any tax or assessment or insurance prcmium, or to kcep the Mortgaged Pmperty in r~pair, or shall commit or pertnit ~ waste, or if there be commenczd any action or proceeding affecting the Mongaged Property or the tide thercto, or the interest of Mortgagee therein, including, but ~t Gmited to, emineat domain and hankruptcy or rcorgartization proceed- ings, then ylortgagee, at its option, may pay said claim, lien, encumbrance, tax, asxssment or premium, with right of ~ subrogation thereunder, may make such repairs and take such steps as it deems a~ivisable to prcvent or cure such waste, anti ma d QI 111 dll ,Ulll a~i~vi~ vi an~.~.v:i. ~:v ^a e~4s c~erl~ arfinq tF1PfP1 + Y VPC~ y r e o o as Mortgagee dcems advisable, and for any of such purposes Mortgagce may advancc such sums of money, incl~ding al! costs, rea- sonable attorney's fees and other items o(expense as it deems necessary. Mortgagee shall be the sole judge of the legali- ty, validity and priority of any such claim, lien, encumbrance, tax, assessment and prcmium and of the amount nects- sary to be pa~d in satisfaction thereof. Mortgagee shall not be held accountable for any delay in making any such pay- me~t, which delay may rtsult in any additional intercst, costs, charges, expenses or otherwise. 10. Mortgagor will pay to Mongagee, immediatcly and without demand, all susns of money advanced by Mortgagte to prQtect the security hereof pursuant ?o this Mortgage, including all costs, rcasonable attorney's fces and other items of expense, together with interest on each such advancement at the highest lawfut rate of iniercst per annurn allowed by the law of the State of Florida, and ali such sums ar~d inttrest thercon shal! bt secured hereby. 1 1. All sums of money setured hereby shall be payable without any reiief whatever from any valuation or ap- praisement laws. 12. tf defautt be made in paymcnt 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 scsured hereby, or in performance of any of Mortgagor's obliga- tions, cuvenants or agrsements hereunder, all of the indsbt~dness secured hereby shall beeome artd be immediately due and payable at the option af Mortgaga, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itsclf of ali nghts and r~medies, at taw or in equity, and this Mortgage may be foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay all costs, charges and expenses thercof, in- cluding a reawnable attorney's fee, including all such costs, exp~nses and atlorney's fces, for any ratrial, rehearing or appeaLs. The in~ebtedness socurod hercby shail bear interest at the higtkst lawful rate of interest per annum albwod by th~ law of the State o( Flonda 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 ttx Note, to teimburse the Mortgagee for expenses in collect~ng and servicing such instalment payments. 13. ff d~fault be made payment, when d~~e, of any ~ndebtedness secured hereby, or in performance of any of Mortgagor's obfigations, covenants or agreement hcreunder. 1 a) Mortgagte i; authorized at an~r time, withaut notice, in its soic discretion to tnter upon and take pos- session of the Mongaged Property or any Pan thercof, to ~erform any acts Mortgagee deems necessary or proper to con- serve the secunty and to collect and rcce~ve ali rcnts, issues and profits thercof, including those past due u wcll as thou accrving thereafter, and (b) Mortgagce shall be entitled, as a matter oF s!nct nght, without notice and ezparte, and without re- gard to the value or occupancy of the secunty, or the solvency of Mongagor, or the adequacy of the Mortgaged Propeny 30~« 508 o,,r~ ~24 U U ~ " • ~ ~ b ~ . _ . .zk~ r7 ^r8">~s a'° ^~:X~~~"