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Home My WebLink About0980 . ' hereby. The enforceability of the covenants rolating to taxes, asussmcnts and insurancc prcmiums hcrein atherwise ` provided shall not be affected except insofar as those obligations have bcen met by compliance with this paragraph. i Mortgagee may from time to timc at its optian waive. and aRcr any such waiver rcinstatc, any or a11 provisions hereof requiring such deposits, by notice to Mongagor in wriling. While any such waiver is in effect, Mongagor shall pay F . taxes, assessmenls and insurance premiums as herein elsewhere provided. E s ; • 4, To promptly pay all taxes and assessments assessed or levied under and by virtue of any state, tede~al, or ~ municipat law or regulation hereafter pasxd. again~t Mortgagee upon this Mortgage or the debt hereby secured. or up- j on i!s interest under this Mortgage. provided however. that the total amount so paid fot any such taxes pursuant to this ~ paragraph together with the interest payable on said indebtedness shall not exceed the fiighest lawful rate of intecest in = Flo~ida and provided further that in the event of the passage of any such law or reguiation imposing a tax or assessment ~ ' against Mortgagec upon this Mongage or the debt secured her~eby~ that the entire indebtedness secured by this Mortgage • shall thereupon become immediately due and payable ~t the option of Mortgagee. ' 't ' S. To keep the Mortgaged Property insured against loss ordamage by fire. and all peHls insured against by an ~ extended coverge endorsement, and such other risks and perils as MoKgagee in its discretion may require. The policy or policies of such insurance shall be in the form in general use from time to time in thc loeality in which the Mortgaged t Property is situated, shall be in such amount as Mortgagee may ccsonabiy require. shall be issued by a cofipany us com- ~ panies approved by Mottgagee, and shatl contain a standard mortgagee clause with loss payable to Mortgagee. Whene- ~ ver required by Mortgagee. such policies, shall be dclivered immediately to and hcld by Mortgagee. Any and all ~ • amounts received byMortgagee under any of such policies may be applied by Mortgagee on the indebtedness secured hereby in s~ch manner as Moriga~ee may, in its sole discretion, clect or, at the option of Mortgagee, the entire ;~mount so received or any part thereof may be released. Neither the application northe 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 ot the Mortgaged y Property or any part thereot by Mortgagee. such policies shal! berome the absolute property of Mortgagee. ~ 6. To first obtain the written consent of Mortgagee, such consent to be granted or withhefd at the sole discre- tion of Mortgagee, before (a) removing or demolishing any building now or hereafter erected on the premises, (b) alter- ing the arrangement, design or structural character thereof, (c) making any repairs which involve the removal of structu- ral parts or the exposure of the interior of such building to the elements. (d) cutting or removing or permitting the cutting and removal of any trees or timber on the Mortgaged Propcrty, (e) removing or exchanging any tangible personal prop- erty which is part of the Mortgaged Propeny, or entering into or modifying any Icases of the Mortgaged Property. : ~ 7. To maintain the Mortgaged Property in good condition and repair, including but not limited to the making s" I~, of such repairs as Mortgage~e may from time to time determine to be necessary for the preservation of the Mortgaged i ~ Pirolaerty and to not commit or permit any waste thereoi, and Mortgagee shall have the right to inspect the Mortgaged Property on reasonable notice to Mortgagor. 8. To comply with a!1 laws. ordinances, regulations, covenants, conditions and restrictionc affecting the t~ Mortgaged Property. and not to cause or peRnit any violation thereof. € ~i 9. If Morigagor fails to pay any claim, lien orencumbrance which 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 waste, or if there be commenced any action or proceeding affecting the Mortgaged Property or the title thereto, or the ' interest of Mortgagee therein, including, but not limited to, eminent domain and banktuptcy or reorganization proceed- ~ ings, then Morigagee, at its option, may pay said claim, lien, encumbrance, tax, assessment or premium, with right of ~ subrogation thereunder, may make such repairs and take such steps as it deems advisable to prevent or eure such waste, ~ • 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 aIl costs, rea- ~ ~ . sonable attorney's fees and other items of expense as it deems necessary. Mortgagee shatl 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- ~ ment, which delay may result in any additional inter~est, costs, charges, expenses or otherwise. 10. Mortgagor will pay to Mortgagee. immediatety and without demartd. all sums of money advanced by Mortgagee to protect the security hereof pursuant to this Mortgage, including all costs, reasonable attorney's fees and ; ~I other items of expense, together with interest on each such advancement at the highest lawful rate of interest per annum = f allowed by the law of the State of Florida, and all such sums and interest thereon shall be secured hereby. ~ f t I 1. All sums of money secured hereby shall be payable withoet any relief whatever from any valuation or ap- ~ praisement laws. ' t 12. If default be made in payment of any instalment of principal or interest af the Note or any part thereof ~ when due, or in payment. when due, or any other sum secu~ed hereby, or in performance of any of Mortgagor's obliga- ~ tions, covenants or agreements hereur~der, a!I otthe indebt~rdness 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 Mortgagee may avail itself of all rights and remedies, at law or in equity. and this Mortgage may be foreclosed with ali rights and remedies afforded by the Iaws of Florida and Mortgagor shall pay all costs. charges and expenses thercof. in- cluding a reasonable attorney's fa, including all such oosts, txpenses and attomey's fees, for any retrial, rehearing or appeals. The indcbtodc~ass securod hereby shall bear interest at the higtxst lawful rate of interest per annum allowed by the 1aw of the State of Florida 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 the Note, to reimburse the Mortgagee for ezpenses in collecting and servicing such instalment payments. 13. If default be made in payment. when due. of any indebtedness secured hereby, or in performance otany of Mortgagor's obligations, covenants or agrcement hereunder: (a) MoRgagce i~ authoriud at an~r time, withoat notice, in its sole discretion to enter upon and take pos- . session of the Mortgaged Property or any part thereof, to perform any acts Mortgagee deems neeessary or proper to con- serve the security and to collect and receive all rents, issues and profits thereof, including those past due as well as those ~ accruing thereafter. and ~ ; (b) Martgagee shall be entitled, as a matter of strict righi, without r~otice and exparte. and without re- gard to the vatue or occupancy of the security, or the sofvency of Mortgagor, or the adequacy of the Moctgaged Property ' ~ ~ a00K PAGE 9~~ - _ _ _ _ _