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HomeMy WebLinkAbout0995 . F . ~ - , ti~if`i ~ ;~rcuunt to {?,~y surh rh+~rgea ~vhen due shnU t~ ~uiid by I1lortg:~Kor !o rlortKi~re~e c~n demand. I(, h,y n~nson c?f uny deft~ult ; by A1ortKiigor under nny provision of thia Mortg~~ge, A1artKfigee deeinres nli sume securc~ci hemby to 1?e due nnd pnynble, ~ Atort~nRee mny then apply nny funds in ~~id ,~ccoiint ngninst tho entire indebiedncas secuted herehy. The entorcrability of tho c~o~~eniiMa talnting to tl~xes, assessmenta nnd insun~n~~e premiuma he~min other~r~ise provideci ahall nat t~e u(fecied exrep~t ! i~ixof~ir i~s th~ae ol?ligi~tiona linve l~een met by complinnce H~ith this Ew~ragra~~h. I~forlguRce muy from time to timo c~t ita ~ option wnive, and nfter nny such wui~•er reinstnte, ~ny or +ill provisiona hereot ce~quiring such depoails, by notice lo I1lortgngor in writing. While any ai?cfi wni~~er is in etfect, 1Nortgago~ ehnll p,~y ttixess, f~ssesaments and inaurunce ~~remiuma i~s herein eisewhem provided. 4. To prom~~tly pny al! ti~xes t~nc1 iissex.smenta r~ssessed or levicd under i?nd hy vi~tue of tiny elnte, federr~l, or municipi~l Inw or regulntion herenfler ~xiss~~d, a~guinst Mortgi~gcr u~~on this Aiortge~ge or the debt herehy secured, or u~wn its is~tere~t under this Mortgnge, {~tovided howe~~er, thttt tho totnl amount so paid (or nny such tnxes puraunnt to this pnrngrt~ph togelh- ~ er «•ith the interest paynble on snid indehtedncss shnll not exre~~ the highest la?wful rntc o( ~nterest in N loridn nnd pr~vided further thut in the event of the pnssnge ot t~ny such l:~w or regult~tion im~~osing n tnx or :~ssessment ag~~inst Mortgagee up- i on ihis Atortgn~;e or the debt secured herehy, thnt !he entire indebtednesa sacured hy this A'fortgi~~e shall ihereu~~on t>e- ~ come immedintely du~ and ~h~yable at the option of blortgag~. ~ 5. To keep the Mortguged Property insured ngt+inst loss ar clamnge hy fire, iind ~I1 ~>erits insured ngninxt hy nn ex- ~ tende:l co~~rr.+Ke endorsement, nnd such other risks und ~>erils ais 1liortgagee in its discretion may require. 'I'he ~~olicy or ~~olicies oi such insurAnce shc~ll be in the torm in Renernl use from time to iime in the locfility in which the Aiortgnged ~ ~ YroE~erty is yitut~ted, sh:~U f~e in auch amount us A9ortgeigee m:~y reflson.~bly require, shnll be issuecl by i~ company or ~ compnnies nppro~•ed hy 1ltortgngee, and shf~ll ronti~in stttndt~rcl morigngee cltiusc: with loss pnytible to 1liortgr~gee. When• ~ j e~•er requirnd by Mortgiigee, such policies, shnll t~c deli~•ered immedintely to and hetd hy 111ortg~gee. Any nnd all nmounts ~ mceived by Mottgngee under nny of such polieies mny he apnlied by Mortgagee on the indebtednec~g securecl herehy in auch manner ns 1liartgngee mt~y, in its sole discretion, elect or, at the oj~tion ot htortgagee, the entire nmount so recei~•ed or nny part thereof may be released. Neither the t~pplication nor the rele.~se of nny such ~mounts shnll cure or wnive nny detnult. llpon exercise o! the ~~ower of s~ile given in this 1~lortgnRe or other ncquisition of the Mortgn~ed Pro~~etly or nny p<~rt there- uf by l~iortgr~gee, such i~olicies shcell become the absolute pro~erty of I~1o~t~ngee. - S. To tirst ohtnin the written consent of 1liortgngee, sach consent to i~e grnntecl or withheld s+t thr sole discretion of AiortgHgee, betore (a) removing or demolishing nny building now or heret~tter erectecl on the premises, ~h) a~terinR the ~ arrangement, design or structurt~l chnrticter thereof, (c) making t~ny repuins which in~~ol~•e the removal of atructur~l parts or the exF~osum of the interior ot such building to the elemenl9, (c!) cutting or removing or ~~ermitting the cutting a~nd re- ~ mo~•iil of any trees or timber on the Mortgaged Pro~>eriy, (e) removing or exch~nging uny tnngible ~~ersonnl pro~~erty which is p.~rt of the 11'IortgaKed Pro~~erly, ~r (f) enterinR into or modifying any le.~ses o( the 111origt~ged Pro~~erly. 7. 'I'o maintain the Mortgaged Pro~~erty in go«7 condition nnd re~~~ir, including but not limited to the ntaking of such repairs as I~{ortg~gee m~~y trom time fo time determine to be necess.~ry tor the preservt~tion of the Mortgaged Pro~~erty and to not commit or {~ermit any wFiste thereof. i ~ ' S. 'fo comply with till IaH~s, ordinances, regulations, co~•enants, c•onditions :uid restrictions affectinR the A1ortRaKc~1 Property, and not ta suffer or E~ermit any violation thereof. 9. I( Iliortgagor fails to pay any cl.~im, lien or encumbrance whicl~ is ~u~~erior to this 1~iortR.~ge, or Hhen due, :~ny tr~x or nssessment or insurnnce premium, or to keep the A4ortgaged Pro~>erty in repair, or shaU ~•ommit or jrermit K•aste, or if ~ there tx commenced nny t~ctior~ or proc•eecling affecting the Mortgaqed Pro~rty or the title thereto, or the interest of ~ Atortgagee therein, including, hut not limited to, eminent dom.~in und bankruptcy or reorgpn~zation proceedings, ihen hiortgagee, nt its option, mny pny s,nid clnim, lien, encumhrance, tax, nssessment or premium, with right of subrog~tion E thereunder, may make such rep~irs and tnke such ste~~s as it deems zdvisf~ble to pre~~ent or cure such vvaste, ~nd may ap{~nr in any such action or proceeding and retf~in counse) therein, and take such action therein as A'Iortgagee deems ad- ~~isahle, and for ~iny of such ~~urposes ~tort~agee m:~y ad~:ince such sums of mvney, including all costs, reason.~hle altorney's fees and other items ot expense ~~s it deems neces.v~ry. 1liortgagee shnll t~e the sole judge o[ the legality, validity and priority ~ ot any such claim, lien, encumhrnnce, tax, ~rsessment and premium and of the amount necessary to be ~mid in satis(action tFereof. b'Iortgagee shall not t~e held accountable for any delay in making :zny such payment, which delay may result in any <idditional intereat, costs, charges, ex~~en~es or othemise_ j 10. 114ortgngor ~sill pay to I~tortgagee, immedi~tely and without demand, all sums of money advancrd hy MortgaRee ~ to protect the s~urity hereoi pursuant to this hlortgage, including all costs, reasonable ~ttorney's fees and other items ot ~ ' 1 expense, tegether with interest on each such advancement ~t the highest lawful rate oi interest per annum in the State of ~ Florida, :md :?ll such sums and interest thereon shall he se~ured herehy. E s { { 11. All sums of money sccured herehy shall I?e , ~v ible K~ithout in reliet ~ti•hate~•er from any ~~aluation or >>raisc- # ~ i f'~ ~ Y I I } ~ ment law~s. ~ 12. If deiauit t~e m~~de in payment of :iny instalment oF principal or interest ot !he Nate or any part thereo( ~vhcn ; due, or in payment, wher~ due, ur any other sum serured hereby, or in ~>erform~~nce of any of Mortgagor's obliqations, ro~•en- ~ ants or agreements hereunder, all ot the indebtedness secured hereby shall liecome and be immediately due and payahle at the i option of hfortgagee, without notice or demand which are hernby expressly waived, in which event Mortgagee may avail itsel( , of al) rights and remedies, at I.iw or in e~7uity, and this A'Iortgage may t~e foreclosed with all rights and remedies nfforded 6y ' the laws of Florida and I1~fort ~ or shall ~a ~II costs, rhar es ~nd ex ~enses t~ereo[, includin a reasonable attorne s fee, B~ K t Y~ B 1 K Y~ ~ including all sach cosrs, expenses and attorney's (ees (or ~ny retrial, rehe~ring or appeals. The indebtedness securnd hereby shall bear interest at the hiqhest lawful rate of interest ~~er annum in the State of Florida from and atter the date ot any such detault of Dlortgagor. It the Note provides tor inst:ilme~t ~~ayments, the Aiortgagee may, at its o~~tion, collect late rharge not to exceed two cents for e~ch one dollar not paid to the Alortg:~gee when due, to reimburse the ;liortg.~gee for ~ expenses in collecting and sers•icing such inst~lment paymenE_s. i 13. If default be made in payment, when due, of any indebtedness secured hereby, or in performance o[ any of ~ ~ illortgagor's obligations, cavenans or agreement hereunder. ` (a) l~tortg~gee is authorized at any time, without notice, in its sole discretion to enter uEbn and take ~w~session of _ ~ the Mortgage~ Property or any ~~arf thereof, to ~>erform any s~cta I~lorigagee deems necessary or proper to consen~e the security and to collect and recei~•e all rents, issues ar?d profits thereof, including those past due as w•ell ~s those aecruing , ~ thereafter: and . ~ (b) Morfgagee shall be entitled, as a matter of strict right, without notice and exparte, and without regard to the value or occupancy ot the security, or the sol~•ency ot Mortgngor, or the adeq~acy ot the 111ortgaged Pmperiy as security for the Note, to have a rereiver appointed to enter upon and tnke passes.9ion of the Mortgaged Pmperty, collert the rents ~nd profits therefrom and ppply the same as the court mny direct, such receiver to ha~~e all the righta and pov~•ers permitted un~er the lflws of Florida. • - ~ ~ In ei.her such case, Mortgagee or the receiver may nlso Wke poagea9ion o(, and for these pur}wses use, any and all ~ personal prorerty which is a part ot !he ~11ortgaged Property and used by l~iortgagor in the rental or leasing thereof or ~ any .part thereoi. The expense (including receiver's fees, counsel [ees, coats and agent's compensation) incurred pursuant to the gowers herein contained sha1! be secured hereby. l~iortgagee ahall (a(ter payment of all c~ta and expenses incurred) ~ - -2- ~ - . 4, : * ~8~~~ P~GE ~ - t:..:-, .