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HomeMy WebLinkAbout0930 . . _J . . . . . . . ~ ~ ~ f _1~ ~ ~ iic~•ount to pny such chnrges when due shi~ll I~e puid hy Murtge~gor to Alurtgngeo on demund, lf, hv'retison o( nny defiiuli hy Mortgngor under nny (noviai~n o[ ihis 111ortgage, I~lortgngee declnres t~11 eums secured herehy to t~e duo nnd {>ay~hle, ~iorigngee tnay then npply any [unds in sai~1 nccount ug~inst tho entire indebteclnea9 secure~i t~ereby. Thv entorcenhility of thQ covennnta rnlnting to tn~ea, nasessmenta ~nd insurt.nce pr~miuina herein otl~erwise ptovided shnll not be nf~ected except insafar ~s those obligations•have been met by complinnce with thia paragrAph. Mortgageo mny from timo io time ut its option wAive, and afte~ any such wi~iver reinstnte, ~ny or nll proviaions hereof requiring such depositA, by notice to Mortgngor in writing. While.anv aueh wai~•et is in etteM, I1lortgagor ahali pay taxes, ~ssessments and insurAnce premiums iis hernin elsowhore provided. ~ 4. To promptly pay all ts~xes tind assessments assesseci or levied under ~nd hy virtue of any stnte, feciernl, or municipal !nw ar regulntion hereaffer }~ssed, agc~inst Alortgi~gee u~>on this Tio~tg~ge or the debt hereby secured, or upon its interest under this Aiortgt~ge, provided however, that the totnl amount so paia tor nny aurh tuxes pursunnt to lhis parngrnph togeth- er with the interest paynble on snid indebtedness shull not exc~d ehQ highe3t lawtul rnte ot interest in Florida and provided further that in tho event of the passage ot any such law or rc~ul~tion imposing n tnx or assessment against Mortg~egee up- on this Martgage or the debt securecl hereby, thnt the entere indebted~ie~ secttrecl hy this I~iort~;~~ge shntl thereupon he- come immecliately due and payable At the option ot Martgngee. ' 5. To keel• the Mortgagcd Ps~{~erty insured ngninst loss or damnga by fire. And nll perils insured a~gninst by An ex- ' tended ro~•ernge enuorsemeni, and such oiher risks ~nd perils ns 11'tortgs~gee in its discretiom m~y mquire. The policy or ~>olicies of such iasurance ahall b~e in the form in ganeral use frotn le:ne to time in the locniity in which the Mortg~ged . ' Pro4~erty is situated, shi~lt be in such Amount ns A'lortgagee may. reasonably require, shall be issued by a compuny or companies npproved by Mortgugee, nnd shall cont~~n n stnndatd mortgagee clause with los.4 puynble to Mortgagee. Wh~n- ever required by Mort~agee, such policies, shall be deliverad immediately to and held by Mortgagee. Any t~nd ~Il nmounts ~ m~eived by Mortgagee under nny of stech policies mny be applied by hiortgagee on tiie indehtedness secured hereby in auch manner as Mortg~gee may, in its sole dis.^rntion, elect or, At the option of Atortg~xgee, the entire amount so received or any part thareof mny be released. Neither the npplication nor the release of any such nmaunts sh~ll cure or waive nny dei~ult. ~ Upqn exercise of the ~~ower of sflle given in thia Mortgnge or other acquisition uf the Mortgaged Pro~~erty or nny part there- ~ - of by Mortgagee, such policies sh~ll become the nbsolute property ~ot Mortgngee.. 6. To first obtain the written consenl of Mortgagee, such consent to be granted or withheld ait the sole discretion of Mortgagee, be[ore (n) removing or demo]ishi~g ~ny building now or hereaRer erected on Ihe premises, (b) ~iltering the ~rrangemant, design or struc!'[ural character thereof, (c) making ~ny repairs which :nvoh•e the removnl of structural pnrts or the exposure of the i~terior of such building to the elements, (d) cutting ur removing or permitkinr the cutting and re- moval of any trees or timbxr on the Mortgageci Property, (e) removing or exchanging nny tAngible personal property which is part of the ~tortgaged ~ro}~erty, or (f) entering ~nto or modifying nny leases of thc A4ortgaged Pro~:rty. 7. To maintain the Mortgaged Property in gaod condition and repair, including but not limited to the making ot such - repaira us Mortgagee may from time to time determine to t*e i~eces.s~~ry for fhe.)~reservation of the Mortgaged Pror.erty and to not commit or permit nny waste thereof. 8. To comply with all laws, ordinances, regulations, co~•enants, conditii,ns :~nd restrictions afferting the Mortgageci Praperty, and not to su[fer or permit nny violation thereof. ~ . ' - 9. Jt A4ortgagor fails to pay any claim, lien or encumhrance whi.h is su~~erior to this 1liortg~ge, or when due, any tax or .~ssessment or insurance premiur.i, or to keep the 114ortgaged Property in repair, o* shaU commit ur permit waste, or it i there be commenced any action or proceeding affecting the Mortgaged Property or the title thereio, or the interest of t .~iortgagee therein, including, but not li~nited to, eminent domain and bankruptcy or reorganization proceedings, then - Mortgagee, at its option, may pay said claim, lien, encumhrance, taz, assessment or premium, with right ot subrogation - thereunder, may make such repairs and take such steps as it deems ad~zsable to pre~•ent or cure such waste, and may appear in any such action or proceeding and retain counsel tfierein, and take such action therein as Ivtortgagee deems ad- visable. and tor any ot such purposes I~ior~gagee may advance such sums of money, including all costs, reasonable attorne}°'s fees and ~ther items of ex~~ense as it deems neces,~ry. ~4l~rtgagee shall be the sole judge of the legality~ validity and priorety of any such claim, tien, encumbrance, tax, assessment and premium and of the amount necessaty to be p~id in satisfuction • thereof. Mortgagee shall not be held accountable for ~ny del<iy in rnaking any such payment, which 3elay may result in any additional intemst, costs, charges, expenses or olherwise. ~ _ 10_ tllortgagor will pay tu ~iortgagee, immediately :•.nd without demand,~all sums of m.oney adranced by htortgagee ~ to protect the security hereof pursuant to this Mortga~:e, including all costs, reasonable attorney's fees and other items of expense, together with interest on each such advancement at #he highest law(ul rate of interest per annum in the State o( Florida, and all such sums and interest thereon shall be secured hereby_ 11. All sums of money secured here~~y shal! be}~ayable wi.hout any relief whatever from any ~~aluation or 1p{>raise- ment laK•s. ~ 12. If default be made in payment of any instalment o[ princi~~al or interest et the Note or any part ihereot when due, or in payment, when due, or any other sum s2cured hereby, or in performance of any of Mortgagor's obligations, coven- ants or agreements hereunder, all o[ the indebte.dness secured hereby shall become and bc immediately due and payable at the option of Mortgagee, without notice or clemand which are hereby expressly waived, in which event hiortgagee may avai! itself of alf rights and remedies, at law or in equity, and this Mortgage may be foreclosed with all rights and remedies afforded by ~ the laws ~E Florida and Mortgagor shall pay all costs, charges and expenses thereof, including a reaaonable attorney's fee, including all such costs, expenses and attorney's fees for any retrial, rehearing or appeala. The indebtedness secured hereby ; shall bear interest at the highest lawful rate of interest per anz~um in the State of Florida from and after the date of any ~ such detault ot Eiortgag~r_ If the Note provides (or irstalmeni payments, the 11~ortgagee may, at its option, collect a late charge not to exceed two cents for each one dollar not paid to the Mortgagee when dne, to reimburse the hiortgagee for ex~ren~a in collecting and ser~7cing such instalment payments. 13. If de(ault be made in ~ayment, when due, of any indehtedness secured hereby, or in performance of any of Mortgagor's obligations, covenants or.agreement heieunder ' (a) Mortgagee is authorized nt any time, without notice, in its sole discretion to enter upon and take possession at the 1~4ortgaged Property or any part thereof, io perform any acts Mortgagee deems neressary or proper to consen•e the . s.,~curity and to collect and receive all rents~ issuQS and profits thereof, including those past due as well as those accruing I thereafter; and s , (b) ttito~gagee sh~l! be entitle~; as a matter nf strict right, without notice and exparte, and without regard to the value or occupancy o[ the security, or the soh•ency ot 114ortgagor, or the adequacy of the Mortgaged Property as security for = the Note, to ha've a receiver a~;~-~ointed to enter upon and take posses4ion of the Mortgaged Property, collect the rents and profits therefrom and apply the same as the rourt may direct, such receiver to hace aU the rights and powe.s permitted under the laws of Florida. ~ ' In either such cas:a; Mortgagee ~r the receiver may also take possession o[, and for tf?ese purposes u~e, any and all - personal propert}r which is a part of the Mortgaged Property and used by Riorigagor in th~ rental or leasing thereof or any part thereo(. The eapense (including receiver's fees, counsel (ees, costs and agent's compensatian) incurmd pur3uant to the powers.herein contained ahall be secured hereby. Mortgagee ahall (atter payment of nll costs and expenseg incuned) - -2- ~ t~ ~ apoK PaGE ~JV ~ ~ ~ 1 . _ !j.,.a~ .•.~s.