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Home My WebLink About0939 he~eby. The enforceab~lity uf the covenants rclating to taxes. assessments and insurance premiums herein otherwise pn~vidrd shall nut be affected except inwfa~ as Ihc~se obligatiuns have been met by compfiance with this paragraph. Muhgagee may froin time to time at its option waive, and afte~ any such waiver rcinstate, any or all provisions hcreof rcyuiring such Jepc»its, by notice to Mongagur in v~rriting. Whi:e any such waive~ is in effect, Mongagor shall pay ~ taxes, assessments and insurance prcmiums as fiercin elsewhtre provided. ~ 4. Tu prumplly pay all taxrs and assessments asxssed or levied under aod by virtue of any state, federal, w ! municipal law or regulation hercafter passed, againct Mortgaget upon tfiis Mortgagc or the debt hereby securcd, or up- un its intercst under this Murtgage, provided however, that the total amaunt so paid for any such taxes pursuant !o this pazagraph together with the interest payable on said indebtedness shall not exceed the highest lawful rate of intcrest in Florida and provided further that in the event of the passage ol' any such law or rcgulatiun imposmg a tax or assessment against Mortgagee upon this Mortgage or the debt securcd hercby, that the entire indebtedness secured by this Mortgage shall thercupon become immcdiatefy due and payable at the option oi Mongagee. ~ S. To keep the Morigaged Property insured against loss ordamage by fire, anci all perils insured against by an extendtd cuverge endonement, and such other risks and perils as Mortgagee in its discretion may ~uire. The policy or policies of such insurance shall be in the form in general use from time to time ~n the locality itCrahich the Mortgaged Proptrty is situatcd, shall be in such amount as MoRgagee may resonably require, shal! be issued by a company or com- panies approved by Mortgagee, and shall contain a standard mortgagee clause with loss payable to Mongagee. Whene- ver rcquircd by Mortgagee, such policies, shall be delivered immediately to and held by Mortgagee. Any and all amounts roaivod by Mongag~t under any of such policies may be applied by Mortgagee on the indebtedness stcared hercby in such manner as Mortgagee may, in its sole di~cretion, elect or, at the option o( Mortgagee, the entire amount so received or any part thercof may be released. Neither the applicatiun nor the release of any such amounts shall cure or waive any defa~lt. Upon exercise of the power of sale g+ven in this Mortgage or other acquisition of the Mortgaged Propeny or any part thercof by hlartgagee, such policies shall become the absalute property of Mortgagee. 6. To first obtain the written cunsent of Mortgagee, such consent to be granted or withheld at the sole discre- tian of Mortgagee. before (a) removing or demolishing any building now or hereafter erected on the premises, (b) alter- ing the arrangement, design ur structural character thereof, lc) making any repairs which involve the removal of structu- ral parts or the exposure of the interior of such building to the elements. td) cutting or removing or pernnitting the cutting and removal of any trees or timber on the Mortgaged Pruperty. (e) removing or exchanging any tangible personal prop- i erty which is part of the Mortgaged Property, or (n enteri~g into or modifying any leases of the Mortgaged Property. 7. To maintain the Mortgaged Property in good a~ndition and repair, including but ~ot limited to the making of such repairs as Mortgagee may from time to time determine to be necessary for the preservation of the Mortgaged Propetty artd to not cornmit or permit an>~ waste thereof, and Mortgagee shall have the right to inspe~:t the Mortgaged Property on reasonabk notice to Mortgagor. 8. To comply with alf laws. urdinances, regulation~, cc~venants, conditions and restrictions affecting the Mortgagcd Property, and not to cause or permit any violation thereof. 9. If Mortgagor fails to pay arry claim, lien ur encumbrance which is superior to this Mortgage, or when ~ue, any taz or assessment or insurance premium, or to keep the Mortgaged Property in rcpair, or shall commit or permit waste, or if there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto, or the intercst 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 premiu~n, with right of subrogation thereun~ier. may make such repairs and take such steps as it deems advisable to prevent or cure such waste. j and may appear in any such action or proceeding anci retain ruunsel therein, and take such action therein as Mortgagee ; dcems advisable, and for any of such purposes Mortgagee may advance such sums of money, ine~uding all costs, rea- € sonable attorney's fees and other items o~ expense as it deems neces~ary. Murtgagee shal! be the sole judge of the legali- ; ty. validity and priority of any such claim, lien, 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- E ment, which delay may result in any additional interest, costs, charges, expenses or otherwise. i i ~ 10. Mortgagor wili pay to Mortgagee, immediately and wichout demarsd, all sums of money adi~anced by ~ Mortgagee to protect the security hereof pursuant to this Mc~ngage, including all costs, reasonable attorney's fees and ~ other items of expense, together with interest on each such advancernent at the highest lawful rate of interest oer annum ~ allowed by the law of the State of Florida, and all such sums a~d interest thereon shall be secured hereby. t I 1. All sums of money secured hereby shall be payable wi:hout any relief w~hatever from any valuation or ap- ; praisement laws. 12. If defautt be made in payment of any instalment of principal ur interest of the Note or any part thereof f when due, or in payment, when due, or any other sum secured hereby, or in performance of any of Mortgagor's obliga- ~ tions, covenants or agreements hereunder, all of the indebtedness ~ecured hereby shall become and be immediately due and payabte at the option of Mortgagce. without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itself of all rights and remedies, at taw or in eyuity, 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 thereof. in- z cluding a reasonable attorney's fee, including aU such oosts, expenses and attarney's fees, for any retrial, rehearing or ~ appeals. The indebtod~ess socured hereby shall bear interest at tix highest lawful rate of interest per annum allowed by ~ the law of the State of Florida from and after the date of any such default uf 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 tlx Note, to reimburse ~ the Mortgaget for expenses in collccting and servicing such instalment payments. ~ 13. If defauit be m~le in payment, when due. of any ir?debtedness secured hereby, or in pertormance of any ~~f ~ Mortgagor's obligations, covenants or agrcement hereunder. {a) Mortgagee is authoriud at an~ time, without notice, in its sole disccetion tu enter upon and take pu~- session of the Mortgaged Property or any part thereof, to perform any acts Mongagee deems necessary or proper t~• r~~;i- urve the security and to collect and rcceive all rents, issues and profits thereof, including those past due as well a~ tFx~.e accruing thercafter: and (b) Mortgagce shall be entitled, as a matter of strict right, w~Ihewi noUce and exparir. -iru1 wuh~~ut r~• gard to tht value or occupancy of the security, or the solvency of Mortgagor, or the adequ:~.•y uf the Atcirtgagrd Pr~~prh~ - aooK512 PAGE 938 ~ ~r ~ ~ . - - ~ : . ~F ~ . W. _t - - - _ _ . - - - - - - _