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Home My WebLink About0962 he~eby. The enforceability of the covenants relating to taxes, assessmenls and insuranre prcmiums he~ei~ otherwi~e pn~vided shall m~t be affected except insofar as ~hose obligations have been met by compliance w~ilh ~his paragraph. Martgagee may from ~ime to time at its uptian waive, and after aoy such waiver reinstate, any ar all provisions hereuf reyuiring such deFx~si~s, by notice to Mortgagor in wri~ing. While any such waiver is in effect, Mongagor shall pay taxes, assessments and insurance premiums as herein elsewhere pn~vided. 4. Tu promptiy pay all taxes and assessments assessed or levied under and by virtue of any ~tatc, federal, or municipal law or regulatian he~eafter passed, against Mongagee upon this Mortgage or the debt hereby secured, or up- un its interest unde~ this M~irtgage, p~ovided however, ~hal the to~al am~iun~ su paid for any surh taxes punuant to thi. paragraph tugethe~ with the interest payable on said indebtedness shall not excced the highest lawful rate of interest in Florida anJ provided further ~hat in the event of the passage of any such law or regulation im~~sing a tax or asses~mcnt ag:~inst Mortgagee upon this Moctgage or the debt secured hereby,lhat the entire indebtedness ~ecured by this Mortgage shall thereuEx?n hecome immediately due and payable at the option of Morigagee. 5. To keep the hlortgaged Property insured against loss ar damage by fire, and all pc;rils insured against by an e~tended coverge endc~rsement, and such other risks and perils as Mongagee in i~s discretion may reyuire. The ~x~licy or policies of' such insurance shall be in the f~rm in general use from time to time in the la:ality in which the Mortgaged PruEx rty is ~ituated, sh~ll be in such amount as Martgagee may resonably reyuire, shall be is~ued by a company ur com- t panies ;~pproved by Mortgagee, and shall contain a standard mortgagee clause with loss payable to Mortgagee. Whene- ~ ver reyuired by Mortgagee, such ~x~licies, shall be delivered immediately ta and held by Murtgagee. Any anJ all amounts received by Mortgagee under any of such policies may be applied by Mortgagee cm the indebtedness secured herehy in such manner as Mortgagee may, in its sole discretiem, elect or, at 1he option u(' Mortgagee, the entire amc?um so received or any part thereof may be released. Neither the application nor the release of any such amounts shall cure or waive any default. U~x~n exercise of the power of sale given in thic Mongage or other acquisi~ion of the M~~tigaged Property or any part thereof by Mortgagee, such poficies shall become the absolute property of hlortgagee. 6. To ('irst abtain the written consent of Mottgagee, such consent to be g~anteJ or withheld at the sole discre- tion af M1lortgagee, before (a) removing or demolishing any building now or hereafter erected on the premises, (b) altcr- , ing the arrangement, design or structural character thereaf, (c) making any repairs which im•olve the removal of ~tructu- ~ ral psrs or the exposure of the interior o~ such building to the elements, (d) cutting or removing or permitting the cutting and rem~~v:~l of an trees ur timber on the Mort a ed Pro rt (e) remavin orexchan in an tan ~ihle nonal ro Y S' 8 P~ y 8 S€" Y b F~ P P~ , erty which is part af the Mortgaged Property, or (n entering into or mociifying any leases of Ihe Mortgaged Property. _ s. 7. To maintain the Mortgaged Property in gcxxi candition and repair, including hut not limited to the making of such repairs as Mortgagee may from time to time determine to be necessary for the preservation of the Mortga~ed f Property and to not commit or permit any waste thereof, and I~lortgagee shall have the right to inspect the Mortgaged Property on reasonable notice to Mortgagor. ' R. Tu cumply with all law•s, ordinances, regulatiuns, cuvenants, conditiun~ and retitrictions affecting the , Mortgaged Property, and not to cause or permit any violation thereof. 9. If Mort~agor fails to pay any claim, lien or encumbrance w~hich is superior to this Mortgage, or when due, any tax or assessment or insurance premium, or to keep the Mortgaged Property in repair, or shall commit or permit watite, or if there be commenced any action or proceeding affecting the Mortgaged Pro~rty or the ti11e thereto, or the interest 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 c~r premium, with right of ° ~ subrogation thereunder, may make such repairs and take such steps as i! deems ad~•isable to prevent or cure such vvaste, 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 Mortgagee may advance such sums of money, including all costs, rea- ~ sonable attorn~y's fees and other items ~~f expense as it deems necessary. Mortgagee shall be the sole judge of ihe legali- ty, validity and priority of any such claim, lien, encumbrance, tax, assessment and premium and of the amaunt neces- • ~ary to be paiJ in ~atisfaction thereof_ Mortgagee shall not be held accountable for any delay in making any such pa}~- _ ment, which delay may result in any additional interest, cosis, charges, expenses or otherwise. ~ J ' 10_ Mortgagor wil) pay to [~1ortgagee, immediatcly and without demand, all sums o( money advanced b}• ; Mortgagee to protect the security hereof pursuant to this Mortgage, including all rosts, reasonable attorney's fees and - other items of expense, together with interest on each such advancement at the highetit lawful rate of interest per annum allowed by the law of !he State of Florida, and all such sums and interest thereon shall be secured hereby. ~ ; ~ I I. All sums of money secured hereby shall be payable w•ithout any relief whatever from any valuation or ap- ' praisement laws. r ~ 12. If defaull be made in payment of any instalment uf principal or interest of Ihe Note or any part thereof 7 , when due, or in payment, when due, or any other sum secured hereby, or in perfotmance o~any of Mortgagor's obliga- tions, covenants or agreements hereunder, all of 1he indebtedness secured hereby shall become and be immediately due and payable at the option of Mortgagee. without notice or demand which are hereby expressly waived, in which event ~ Mongagee may avail itself of all rights and remedies, at law or in eyuity, and this Mortgage may be forectosed with all - rights and remedies af(orded by the laws of Florida and Morigagelr shall pay all costs, charges and expenses thereof, in- cluding a reasonable attorney's fee, including all such costs, 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 o(' Florida from and after the date of any such default of Mortgagor. if the Note provide~ for instal- ment payments, the Mortgagee may, at its option, collect a late charge as may be provided for in the Note, to reimburse thc Mortgagee ('or expenses in collecting and servicing such instalment payments. ~ I 3. 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 sole discretion to enter upon and take pos- session of the Mortgaged Property ur any part thereof, to perform any acts Mongagee deems necessary or proper tocon- serve ihe security and to collect and receive al) rents, issues and profits thereof, including those past due as well as those accruing thereafter; and fb) Mortgagee shall be entitled, as a matter of strict right, without notice and ezparte, and without re- gard to the value or occupancy of the security, or the solvency of Mortgagor, or the adequacy of the Mortgaged Property - ~~0535 Pa~0962. ~ ~ - - : ~ ._.,~..y....~,,,,,~~.,,r-_-- - ~ . _e..~..~ f