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HomeMy WebLinkAbout0995 f . ~ hereby. The enforceability of the covenants relating to taxes, asscssmenis and insurance premiums herein otherwise prc~vided shall not be affecled except insofar as ihose ubtigatians have ~~n by complian~~ with this paragraph. Mortgagee inay from timc to time at its option waive, and after any such waiver reinstate, any or all provisions hercof requiring such de~x~sits, by notice t~~ Mongagor in wfiting. While any such waiver is in effect, Mortgagor shall pay taxes, assessments and insurance premiums as herein elsewhere provided. 4. Tu promptly pay all taxes and assessments assessed or levied under and by virtuc of .iny state, federal, or municipal law or regulation I~ereafter passed, againct Murtgagee upon this Mortgage or the debt hereby securcd, or up- ' on its interest under this hlongage, provided however, that the total an~~iunt so paid for any such taxes pursuant to this parag~aph together with thc interest payable on said indebtedness shall not exceed the highest law(ul rate of interest in i Florida and provided further that in the event of the passage of any such law or regulation imposing a tax or assessment against ~lortgagee upon this Mongage or the debt secur~d hereby, that the entire indebtedness secu~ed by this 1~4ortgage shall thercupon become immediately due and payable at thc option of Mortgagee. > ~ 5. Ta keep the Mortgaged Property insured against loss or damage by fire. and all perils insured against by an y extcnded coverge endorsement, and such other risks and perits as I~4o~igagce in its disereti~n may require. The poticy ~r « policies of such insurance shall be in the forni in genera! use from time ro time in the locality in which the Mortgaged ~ Propeny is situated, shall be in such amount as Morigagee may resonably require, shall be issued by a company or cc~m- r panies ap~,roved by Rtortgagee. and shall contain a standazd mortgagee clause with loss payable to Mortgagee. Whene- ver required by Mortgagee, such policies, shall be delivered immediately to and he1J by Mortgagee. Any anJ all ' amounts received byMortgagee under any of such policies may be applied by Mortgagee on the indebtedness secured ~ hereby in such manner as Mortgagee may, in its sote discretion, etect or, ai the oplion ~~f hlorigagee, the entire amount : sa 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 of sale given in this Mortgage or other acquisition of the Mongagcd Property or any part the~-eof by Mortgagee, such policies shall become ttie absolute property af Htortgagee. ~ 6. To first obtai~~ the written consent of Mortgagee, such consent to be granted or withheld at the sole discre- ; tion of Mortgagee, befare (a) removing or demalishing any building now or hereafter erected on the premises, (b) alter- i~ ing thc arrangement, design or sti-uctural character thereof, (c) making any repairs which invoive the removal of swctu- _ ral parts or the exposure of the interior of such buitding to the etements, (d) cutting or removing or permitting the cutting - and removal of any trees or timber on the Mortgaged Property, (e) removing or exchanging any tangiblc personal prop- ; eriy which is part of the Mortgaged Propeny, or entering into or moclifying any (eases of the Mortgaged Propeny. ~ 7. To maintain the Mortgaged Property in gooci condition and repair, inctuding but not lin~ited to the making of such repairs as Mortgagee may from time to tirne determine to be necessary for the preservation of the Mortgaged ~ Prop~rty and to not commil or permit any waste thereof, and Mortgagee shall have the right to inspect the Mortgaged z+` Properry on reasonable notice to hlortgagor. ~ ~ 8. To comply with atl laws, ordinances, regulations, coveoants, condilions and restrictions affecting the Mortgaged Property, and not to cause or permit any violation thereof. ' 9. If'Morigagor fails ro pay any claim, lien or encumbrance which is su~rior to this Mortgage, or when due, f~': any tax or assessment or insurance premium, or to keep the hiortgaged Property in repair, 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 interest of Morigagee 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 ~ subrogalion thereunder. may make such repairs and take such steps as it deems advisable to prevent ar cure such waste, ~ and may appear in any such action or proceeding and retain counse! therein, and take such action therein as Mo~tgagee I deems advisable, and for any of sueh purposes Mortgagee may advance such sums of money, including all costs, rea- I~ sonable attomey's fees and other items of expense as it deems necessaty. Mortgagee shall be the sole judge of the legati- ` a ty, validity and priority o~i any suci~ ctairii, I~~r~, ~rct:,;,~ranc~, :ax, ~ssess~!?! ar?d nremium and of the amount neces- sary to be paid in satisfartion thereof. Mortgagee shall not be held accountabie ior any delay in making any such pay- ment, which delay may result in any additi~nal interest, costs, charges, expenses or otherwise_ `s 10. Mortgagor will pay to Mortgagee. immediately and without demand, all sums of money advanced by ~ Mortgagee to protect the security hereof pursuant to this Mortgage, including al! costs, reasonable attomey's fees and ~ other items of expense, tagether with interest on each such advancement at the highest lawful rate of interest per annum ~ allowed by the lativ of the State of Florida, and atl such sums and interest thereon sfiall be secured hereby. ~ ~ I I. All sums of money secured hereby shall be payable without any relief whatever From any valuation or ap- ~ praisement laws. r;. 12. ]f default be made in payment of any instalment of principal or interest of the Note or any part thereo( j~~~; when due, ar in payment, when due, or any other sum secured hereby, or in performance o~any of Mortgagor's obliga- tions, covenanls or agreements hereunder, aii of the indeb[edness secured hereby shall become and be immediately due " and payable at the aption of Mortgagee, without notice or demand which are hereby expressly waived, in which event Mortgagee may avail itself of all rights and remedies, at la~v 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 thereof, in- duding a reasonable attorney's fee, including a(I such costs, expensts and attorney's fees, for any retrial, rehearing or appea{s. The indebtedness secured hereby shall bear irtterest at the highest lawfu! rate of interest per annum altowed by ~ the law of the State of Florida from and ailer 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 chazge as may be provided for in the iVote, to reimburse the Mortgagee for expenses in collecting and servizing such instalment payments. 13. If default be made in payment, when due, of any indebtedness secured hereby, or in performance of any oF . Mortgagor's obligations, covenants or agreement hereunder: (a) Mortgagee i~ authorized at any time, without notice, in its sote discretion to enter upon and take pos- session of the Mortgaged Property or any part thereof, to perform any acts Martgagee deems necessary or proper to con- serve the secarity and to co!lect and receive all rents, issues and profits thereof, including those past due as well as those f accruing thereaRer; and t (b) Mortgagee shall be entided, as a matter of strict right, without notice and exparte, and whhout re- gard to the value or occupancy of the security, or tt?s solvency of Mor~gagor, or the adequacy of the Morigaged Property ~ I 3 i t~~!'~!~~~0 ~ ~ ~ l