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Home My WebLink About0970 (or in~ur:~nre thereon. The amuunt uf .uch taxe~, a~.r,~ment~ :~nJ pre+niunu, Hhrn wiF,auwn. .hali he ~,uma~rd b} Mongagee. Such depusi~s shall be u~ed by M~~rtgagee to pay such taxes, ass~+smenls and premiums when due. A~y ~n- sufficiency uf such accuunt tu pap such rhargeti when due shall he p:iid by Murlga~;or tu Murtgager :m deman~. I1~, h~ reason of any defaul~ by Mortgagor under any pruvisiun of this Mongage, Murtgagee decl;~re~ all,umti ~ecurrd herrh~ t~~ he due and paya5le, Mungagee may Ihen appty any funds in s~id ;~ccount agaimt the e~tirc indrMednr~. aecurrJ he~eby. The enforceability uf the covenants ~elating to taxes, assessmenls and insurance premiums herein o~herwise provided shaN not be affected except in~ofar as thase obiigations have been met by compliance wi~h ~his paragraph. Mongagee may from time to time at its option waive, and after any such waive~ reinstate, any or all pravisions hereof reyuiring such depoxils, by natice tu Mortgagor in wri~ing. While any such waiver is in effect, Murtgagor shall pay ~ taxes, assessments and insurance premiums as herein elsewhere provided. ~ 4. To promptly pay all taxes and assessments assessed or levied under a~d by virtue of any state, l'ederat, ur muniripal law or regulation hereaRe~ passed, againct Mongagee upon this Mortgabe or the debt hereby serured, or up- un its interest under this Mortgage, pruvided huwever, that the total amount su paid for any surh taxes pursuant to this paragr:+ph together with ihe interest payable on said indebtedness shall not exceed the highest lawful rate of interest in Florida and provided further Ihat irt thc event of the passage of any such law or regulation ~mEx»ing a tax ur at~etsment against Martgagee upon this Mortgage or the debt secured hereby, that the entire indebtedoess secured by this Mortgage shall thereu~n become immediately due and payabte at the option of Mortgagee. 5. Tu keep the Mortgaged Propetty insured against loss or damage by fire, and all penls insured against by an extended coverge endorsement, and ~uch other risks and perils as Mortgagee in its discretion may reyuire. 7'he Esalicy or policies o( such insurance shall be in the form in general use from time to time in the locality in which the Mortgaged Property is tiiroateJ, shal! be in such amuunt as Mortgagee may resanably reyuire, shall be issued by a cumpany ur com- panies approved by Mortgag~e, and shall contain a standard morigagee clause with loss payable to Mongagee. Whene- ver reyuired by Mortgagee, such policies, shall be delivered immediately to and held by Mortgagee. Any and all amounts received by Mortgagee under any of such policies may be applied by Mortgagee on the ind2btedness secured hereby in such m~nner:~s Mortgagee may, in its s~le discretion, elec~ c~r, at the oplion of Mortgagee, the entire ~?mount , so received or any pari thereof may be released. Neither the application nor the release of any such amounts shall cure or : waive any default. Upun exercise of the ~wer of sale given in thi~ Mon~;a~e or other acqui~i~ion of the Mortgagrd Property or any part thereof by Mortgagee, such poiicies shail become the absolute property of Mortgagee. 6. Ta first obtain the written consent uf Mortgagee, such consent to be granted or withheld at the sole discre- tion uf Mvrtgagee, before (a) removing or demolishing any building now or hereaRer erected on the ~remises, (b) atter- ing the arrangement, design ur structural character thereof, (c) making any repairs which invul~~e the removal of titruc~u- ral parts or the exposure of the interior of such building to ihe elements, (d) cutting or removing or petmitting the cutting and renu~va! of any trees or limber on the Murtgaged Property, {e) removing or exchanging:~ny tangiblc personal prop- erty which is pan of the Mongaged Property, or entering into or mcxiifying any leases of the Mortgaged Property. 7. To maintain the Mortgaged Property in gaxi condition and rrpair, includin~ but not limited to the making o~ such repairs as Mortgagee may from time to time determine tu be necessary for the preservation of the Mortgaged Property and to not commit or permit any waste thereof, and I~1orlgagee shal) ha~~e the right to inspect the Mortgaged Property on reasonable notice to Mortgagor. 8. To cun~ply with al! lawt, ordinanres, regulations, co~~enants, cunditiuns and re~trirtiun~ affecting the > Mortgaged Property, and not to rause or perniit any violation thereof. _ ; 9. If Mortgagor faits to p3y any claim, lien or encunthrance which is ~uperior to ~his Mongage, or when due, '4 any tax or assessment or insuranre premium, or ro keep the h1ortgaged Property in repair, i~r shall commit or permit = u•aste, or if there be rommenced any action ~~r proceeding afferting the Mortgaged Propeny or the title ihereto, or the interest of Mortgagee therein, including, but not limited to, eminent domain and bankruptcy or reorganization proceed- ings, then Murigagee, at it~ option, may pay ~aid claim, iien, encumbr~nre, tax, assessment or premium, with right of subrogation thereunder, may make such repairs and ~ake such steps 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 surh action therein as Mortgagee deems advisable, and for any of such purposes Mortgagee may advance such sums of money, inctuding all costs, rea- ~onable attorney's fees and other items of expense as it deems necessary. Mc~rtgagee shall 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- s;~ry tu be paid in satisfaclion thereof. Mortgagee shal) not be held accountable for any delay in making any such pay- ment, which delay may result in any additional interest, costs, charges, expenses or otherwise. 10. Mortgagor w•i!t pay to Mortgagee, immediately and withou~ demand, all sums of money advanced by ' Mortgagee to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attomey'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 af Florida, and all such sums and interest thereon shalt be secured hereby. I I. AN sums of money 4ecured hereby shall be payable w•ithout any relief whatever from any valuation or ap- ~ ~ praisement laws. I 12. If default be made in payment of any instatment of principal or ir~terest oF the Note or any part thereof ' when due, or in payment, when due, ur any other sum secured hereby, or in performance of any of Mortgagor's obliga- ' tions, covenants or agreements hereunder, all of the indebtedness securcd hereby shall become and be immediately due ~ and payable at the option of Mo!tgagee, without notice or demand which are hereby expressly waived, in which event Morigagee may avail ilself of aU rights and remedies, at law or in equity, and this MoRgage may be foreclosed with all rights and remedies afforded by the laws of Florida and Mortgagor shall pay aU costs, charges and expenses thereof, in- ~ cluding a reasonable attorney's fee, including all such ccsts, expenses and attorney's fees, for any retrial, rehearing or appeals. The indebtedness secured hereby shall bear interest at the highest lawful rate of interest per annum allowed by the law of the State of Florida from and afrer the date of any such default of Mortgagor. tf the Note provides for insta!- ment payments, the Mortgagee may, at its option, collect a late charge as may be providcd for in the Note, to reimburse the Mortgagee for expenses in colleeting and servicing such instalment payments. I 3. lf 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 is authorized at anY time, without notice, in its sole discretion to enter upon and take pos- o ! session of the Mortgaged Properiy or any part thereof, to perform any acts Mortgagee deems necessary or proper to con- ~ serve the securiry and to collect and receive all rents, issues and profits thereof, including those past due as well as those ~ accruing thereafter, and CA -.c N ~ (b) Mortgagee shall be entitled, as a matter of strict right, without notice and exparte, and without re- [!7 ; ~ gard to the value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property O om . ~ ~ - ~ ~