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HomeMy WebLinkAbout0952 t' r~,~~ ts;,,~, tatn a Eutl s~nd attvrate aet oE books atxi' noonts st~o~ving all the MoctRagce may have utxier this Mortg,~ge or urxkr the l~ws of Ftoricia. ~ mattc~a sboMe speNfied, and ahall pern~lt Mortg~gee u any dme to 'It~e receipt and applkulun by hlartgagee of such lnaxne pursuant irupect anci audit all Moctgagoc'a booka ot acoount~ rooads~ and hereto, shall not cvre any brexh or defaulc, rxx aft'ect anY P~'~~8 papeca c~ladng co any of the fa~egotng maaers. tn che eev~eent any such t,ucicuced by re~son chereaf~ bue akh inaome. less alt easts of oper- audit is ciused to be nurde b'Y Matg~gee bY re~son of the' failure af auon ux1 malntenance~ when recriv~ed by Moctgagee~ shall be appUed Matgagcx to comply wGh any of tt?e fa'eSolr?$ Provl~loris, then In n~cdon of tt:~ e[~tlre indebtedness fi+orn time to Wne secured Mongago~ shatl pay to Moct~gee upon demxnd atl expenses irxw hereb~s Mcxtgagor ahall not ln any m~uuier obsuuct or lnterfere wish ~ red by Moctga~gcc In eonnection with such audlt. any of Mortgagee's rights unde~ thls Par~g,raph 16. tn the eren[ : None of the poovisions of th~s Paragraph I1 shall be applk~ble Mcxtgagee ans under the prov~slons of chis Paragraph 16, Mo~cx so long as the poopeety is cesldentlal lr? nature and deslgned for shall pay a secvice charge in an amount equal to flNe pecrent (59K) oecuPanc~' b'Y less than five (S) famlUes. of all ineome collected by Mo~tgagee. 12. UMlAGB'tn UR Oc3NDBM~VA710N OF PROPER 1Y. My award 17. Upon request oE Mortgagor, Mortgagee may, at i[s sole op[ion. of ch~nages or compensatlon for in)ury to~ or in eonnection with aziy fit~m dme to time make future ad~?.~nees to Mort~agor; pi~avided. ~ eo~demnadon for pubUc ~tse of the property or a~' P'art thec+eof~ o~ hov~rever~ that such advances are macle withln twenty (20) y~ears feom any procecds of any setdement with re~ect to a eondemnatlon the date hereof and that ehe taal principal seru~+ed he~+elry and whether or not eminent dornain proceedings have beer~ instituted. c+emaining unpaid~ U~ciuding any such advances. shall not at arry dme shali be and is hereby assigned by Mortgagor and st~al! be paid to exceed the ag~+egacc ous~ndin8 P~~P~ sum of Mo~'tga8ee. wha may appty, use or release che amounc thenaf in che : 0.00 plus arry dlsbursements mack by Mortgage~e same manne~ as in Paragr~iph 2 proWded for the proeecds of Are or for [he payment of taxes. levies, or insucanoe on the Mortgaged other lnwranc~e. propecty, with intec~est at such dWwrsements at the debult rate provided In promLssory note secured hereby. Moctgagor shali e~cvte Li. BENEFICIARY'S CONSEM' RF.QUIRED. Mort~a,gee may de- and deliv~er to Mort~agee a rwte evlder?cir~g each and ev~y such clare all sums secvred hereby immecii~tely due and payable arithin future advanee which Mortgagee may make. and such documents as 3Q ctays after such derlaration exeept ~ expressly limited by law. if Mortgagee may r~cWire to r~eflect that surh nae is secured heoebyc Moctgagor. ivlthouc Mortg~gee's pclor w~rlaen eo~uenc (a) setls, eon- Mortgagor shall pay all such future advu~ces with interest pe+ovided ~~.ys. contracts to sell~ alienates or further e~xumbers all or anY P~ therefor~ and the ~me~ and each nqce evidenctng the same, shall be - d' the property, ur Eb) leascs all ac any parr ot' the pc+opecty for a hec+elm m~talned shall obllgate Mongagee term, cogether with a1t eaerctsable options. ~E 5 ye~rs or more; or co maWe ury auch future advanees. The wrord "Morcgagor" as used (c) suffers the dtle or ury Interest in the secured pro~petty to be in this paragraph, includes a~}? suceessor in ownershlp nf the dlv~ued, vvl?ether v~oluntarily or inv~oluntarity; or (d) d~ang~es or bto~tgaged ~hroperty or anY Part theeeot: The w~ord "Moctgagee~" as permits to be d~anged che char.icter or use of the ProPe~ ~~e~ use~ in thLs par~graph Includes any ass[gnee of Mortg,~gee. is a partnership and arry oi the general partners' tnterests at+e trans- ~ • ferred cx asstgned. whethec v~olun[ariiy oc involunrarily; or (fj is a 18. FEES. Mo~tgagor shatl pay to Mo~tgagee the maxlmum . corporation with fewer than 100 scockholders at the date of executton amoun[ as may from Ume to dme be permiaed by law for furnishing of this Mortgage and n?ar than 10% of !ts capital stock is sold, in eonnecdon with the obligations secured he~+eby. each staiement . traiuferred or assigned during a 12-month period. pursuant to arry statute at the tlme then In fare. Addidwrdlly. 14. NO WAIVER Mortg~gee by acreExing paymenc of any sum 1?iortgagor stralt pay Mort~pgee's fees. charges and expenses for any secv~+ed hereby after tts due date, or by making paymenc or taking other statement. infomiatlon or services fumisf~ed by Mortgaigee in any action whlcfi, urttler the p[ovislons k~ereof Moa$aSee is entltled cotlnection with tt~e obligations secuced he[+eb)! Sald services may but not obllgated to make or take. or by forbearing from enforctng ~t shall not be Umited to, the proc~essiqg by Mortgagee, of any of ics righcs, shall na be deemed to have waived its righc co assump[ior~s. substitucions. modltk~cions, ex[enslau, renewals, sut~ . requlre payment from or actlon by Mortg,~or and to declare a default °~i~~• ~'u~O~• ~°f °wner, the pr°c~ssing of, or - ]oinder in the executton of. anY maP. Plat sun~ey ar aher insaumenc for Mortgagcx's failure co do so. affetting or c~sCribing the Property (includt~g al! recording eosts). [n the eweret Mo~tgagee should expressly waiv~e anyr rights under c+eeocdation of map, plat or record of sun~ey. gcants of ~ert~nts, any prov~sioru o( this Mortgage, such waiver shall ~?ot be deemeci a and tull and partiat releases. and the obtalning by Mortg,~gee of any wai~,er of arry rights Mortgagee may have subeequendy co require poUcies of insurance pursuant to any of [he pcovlstons oontained in payment from or aalon by Martgagor and to declare a defa~lt for thls Mortgage. Mortgagor's [ailure to do so. ~ 15. ASSIGNMEM: r he ass and transfers to 19• W~R OF 5fA77J'[E OF UMITATIONS. Mongdgor hereby ~«&~Sa ~Y ~ waives, co the fullest eutent permLssible by law, the statute of Iirnita- , Mortg~gee during the eonNnuance of thts Mortgage, all rents, issues, tions as a defense to arry dernand or obllpption secured by this ! proFits, r+oyalties~ tolls, eaming,s and ir~come of d~e property including Mortgage. ~ tho6e arlsic~g by reason of a~ry oll, gas or mineral lease thereof. and all installments of ma~ey payable pursuant to any ~aicract of sale 2p. GENERAL PROVIS[ONS or lease relating to the property or a~ry part theoeof (hereinafter referred to eolleceively as "inoome°). together with the rigfit, P~'~r A. 7t~e cerm "Mortgagor" shall mean all partles executing and authority to coQect and retain all such inc~ as it beeomes ~~s Mer~e as Mortgagor, their ~+espectiv~e heirs, legatees, de- due and payable. Alt income reeeived by Matgagee through the ~tnlstrators, executors, suecessors in interesf and as- exerrt,se of the ~oregoing asstgnment, less all eapenses, (includin8 sigris, provided that Mortgagee shall not be obligated to give reasonable morneys fees) incurcrd by Moctgagee In mllecting such any nocice reguired hereunder co any Mortgagor aher than as irx~ome shall be appiied try Martgagee on airy indebtedness secured sho~~n on the faee page hec~eof. by this Mort~ge ac sucfi time and in the lrianner and amcwnt as Mort~gee may determine. Without [ttn,'tir~g the generality of the B. The term "Moctg~agee" shall mean the o~wner and hotder fcxegoing, such application m~ay Incfude payrtxti~t of periodk install- (including a pledgee) of the nae secured hereby, whether or ments of principal and inter+esc, or reductlon of the pdncipal balanee noc named as Mortgagee herein. ar reimbursement co Matgagee as pravided tn Paragraph 8. 'lt~e _ foregoing ass~gr?ment is intei~ded as an assignment to alce effect C- E~ry p~~ ~~Se [mposing upon only upon a ciefault by Mortpgor In any of Mortgagor's obligattons ' Mortgagor an obligation to perform an act, or embody[ng an under thts Mortgage. and Mortg,agor acmrdingly reserves the rigfit, b'Y M~ to perform an act, shall be mnurued prior to any such default, to mllett and retain all such Income as it as oblig~ting Mottgagor to pay all eosts and expertses relating beeornes due and payable. thereto. . 16. DEFAUL'[' BY MORTr',AGOR Upon defaulc by Matga~eor In D. (n the evenc ar?y ptovision hereof shall be cieclared im?alid payrr~ent of arqr iixiebtedness se+cured, or in the performanc.~e of arry or unenforeeabte through a flnal iudgemenc in a oouct having obligdtion impo6ed upon Mortgagor. by thls Mortgg?ge. ~Sortgagee ~P~~t 1~~1~~ ~~idity or enforceability of ury of may, without naice uxi without regard to the adequacy of the security the remalntng tem~s hereof shall na be thereby impalred for ttie indebtedness secvred hereby. either persor?ally or by aaorney E. ln thts Morcgage, where~+~er che context so requires. the or agent, witfiout briqgin8 anY xtion or prooeeding. without entering masculine gender inctudes the feminine and neuter, the stngular into possession oF the pmpeRy. or by receiver to be appointeci by number inclucles the plur~l. and vice v~ersa. and if more than a court, (a) encer tnco possesslon and hold~ ottvPY, P~ ~ one person is nuned as Moctgagor~ che obligations of Mortg~gor enJay the property: (b) irake. carx~el, enfome~ modify or cerminate shall be the pint and sev~eral obtig~tions of each person. lease.s: tc) obtaln and e~e+ct te~ants: (d) set or modify rencs: (e) u-ike~ receive and mtlect ~ll or ury part of the rents, ~ssues~ P~ffi. ~'~5'~~. E 7he term "attorneyrs fees" shall include all oosts, exPen.se~ tdls, eamfngt. ineort~e and instaflments (heneintilter trferred to mi- and attorneys fe~es incurred pNor to the i?utlhuion of any pnoeeed- lectively as "l~x~ome") as lt becomes due arxi pvyahle. Atter paying ing, during the pendency thereof'. and u all {ev~els of ap~peal. such msts of cnalnternnce and opecation of the property as it in its i~ ~Y ProPe~~ ~~Y ~PP1Y the balance upon G. Captlons and p~ragnph hradinig.s used herein are for the entire in~debe~dr~ss then secured heretry. 7he aeaeptance of such eonYenience only arul are not a pact of thls agreernent and shall irxome shal! not eor~stituce a waiver of any aher Hght whkfi not be used In ~nstruing it P~r.e 3- nnNsr~ ~oRmr~e o~eu AQ~K ~iU~ PAGE 951 _Y.~ _ . . _ - - F.