HomeMy WebLinkAbout0992 municipal la~+ ur rrgulaUun hrrraher p;~~ud, :~ga~n.t Mortgabee u~x?n ~hi. Mungagr or ihr dcbt hrrrby tiecurrd, ur up
un a. intcrr.t undr~ thi. ;~1~?ngagc, prar~deJ huwever, thal the t~~ta) enH~ust ~u paiJ fur any ~uch ~arr+ punuam tu ~hi,
paragraph tugethrr w ith the ~n~err~~ payable un ~aid ~ndebtedness ~hall not exceed the highe~t law (ul rate of intrre~~ in
tl~~rida and pru~ iJrJ funhcr th~t ~n Ihr r~rn~ ~?f Ilx pa»rgr of any ~uch Irw ur « gulauun im~»~n~; a tas ur a.~r~.mrnt
~~,ain.t !1lungagre uExm thi. I~longagr ~~r the Jrht SecureJ hrrcby, ~het the entire ir?debtrdne~ti ucured by thn Mun~a~;r
,h~li therruEx?n hrcu?ne immrdiately Jue and p:+yable at tht opt~un ~~f Murtga~rr
S Tu keep the Alurtgaged Pruprrty insurcd aga~n~~ Ie~ti~ or damage by f~re, and all prnh ~nwrrJ aga~mt b~ an
r~trn~rJ c~~~rr~r rn~i~~r.rrnrnt. and.uch uther n,l~c anJ penl~ a~ Murtgagrr in ~t, Ji,creuun ma} rryu~re Thr Ex?lic} ~~r
4x~l~rir. ~~i w~h imur:~nre ~hall he in the k~rm ~n gentral use from t~me to timr in the I~x:~hty ~n v?hich Ihe M~~n~ag~d
Pn~4x rt) i~ ~~tual:J. ~h~ll br in wch arnuunt a~ Mi~rlgagee may rcwnably rryuire. ~hall he i,wed h~ a cumpan} ur cum
panir. appruved by Murtgagrr. and ~hall r~,nla~n a+~dndard murlg;~gre ~ lau.e with luu p•ry~bir tu 4lungagec V1%hene-
~cr rrywrrJ t~~ `lungaErr, wrh Ex,licir.. .hall hr JrlivrrrJ imn?rJ~atri} tu anJ he1J by `1~?rtgagrr An~ an~1 ell
amounts recri~eJ by 111ungagee undrr ~ny uf wch pulir~~ti may tx applieJ by Muttgagee un Ihr indebteJnr» srcurrJ
hcrch~ in ,uch manr~rr a~ :~ii?rtgager m~~ , in m,ule dixreU~~n. rle~~ ur. at ~hr upU~?n i?f ~i~?rigagee. tFx rnure arnuunt
~u rr:~ ~~ed ur any pan thrreuf may br rclea~rJ. Nr~ther thr apphcatwn nur the releau of :~ny wch amounh +hall cure ~?r
~+a~~c am del:tult l'~m eter~i~e ul lhr (w~Wrr u( ,ale given ~n thi. Murt~agr ur ~~~her acyw,iuun uf the `1url~!a~rd
Pruprny ur :~ny prn thrrcuf by hlurtgage~. ~uch ~~licie~ shall hec~~mr the ~btiulute prupeny ~?f Mun~agee
h "I~i? lir.t ~~ht~in the ~nuen runtirnt uf Murtgagce..uch rumrnt tu he Kranted ur w ithhrW at ttk wir diticcr
Uun ~~t ~ti?rigager, before (a) «nwving or demol~shing any buiWing now ur hrreafter erec~rd un the premi~es, l b1 alter-
ing ~hr arrangrmrnt, Jr~ign ur ~trurtural chararter ~hrre~~f. (rl mak~ng ~ny repa~r~ v?h~ch ~m~~l~r tFx renr?~ ~I uf .wctu-
r:~l pam ur thr ex~»ure of Ihe mtenur of ~uch hu~iding tu the elementti, Id) cutung ur removing ur pemiitung the cuUing
an~l rrnw~al ~~f am trer. or timhrr un ihe ~lunga~eJ Proprny,lrl rrm~?ving ur exchrnging an} tangihlr prnunal prup-
rm Kh~ch pan ~~f ~he Mungaged Propcny~, ur !f) entCnng intu or m~xl~l~ ~ng any leaur~ uf the ~lungagrd Pri~prrt~
7 1~~~ rna~ntain the !?1~?rtgagrJ F'rupen} ~n g~hxl cunditiun ~nd rrpair. inrlud~ng hut n~~t lin:itr.1 t~?ttk rn~{~in~
ut wrh rrpain a. tilurtgaKee may fnim Urnr to nn?r ~rtrrmine tu be nrcr~~ar~ fur thr prrunauun uf the ;~lungaKeJ
Pru~rt} and to nt~t commit or permit an~ wa~te ttxreof, and ~iortgagee +hall ha~e the ngnt to ~n+{~ee:t the !~1ur~gageJ
Pn~rty on reawnabk nou~Y to Mcxtgagor.
K fi? iumpiy ~Uh ali I~w.. urclinani~~. rcgulaUum, r~,~rnenh. ~nn~liU~m, .en.i t~.tr~rtum. allrrtinE thr
~t~~n~e~rd Pruprn~ . and not tu rau.~ ur prrm~~ any . wlah~?n ~hrrrut
y I! ~1urlgag~~r t~~l, U~ pay anr i I~im. lien ur rnrwnbranrc w hich i. ,u~rn~~r t~~ ~hn ~1~~n~a~r. ~+r W hrn dur.
an} t~~ ~~r a.x~+mem ur imurance premsum. u~ t~? i~etp the !~iurt~;agrd t'ruprrty m rep~ir. ur ~hall cumnut or prmut
Ha~tr. ~~r ~hrrr hr ~urnnunrrd a~y actwn ur pr~xrrd~ng alfrrun~ iFx tilungageJ Pr+~~xrt} ur thr ~~tle iherctu, ur the
intere.t ~~f Mongagee therein, including, but ne~t hmitrd tv, rm~nent Jumain and bankru~t~y ur reurganir.atiun pnxeed-
in~.. thrn tilungagrr. at it, uptu?n. ma} pay ,a~d cla~m. lirn. rnrumbran. r. tax. :~,~c.,mrnt ~?r prem~um. w~ih ngM ~~f
tiubmgauun therruncier, ma} make tiuch repain and t:ikr ~uch.tep+ a~ Jrrm+ ad~ i~ablr to pre~rnt ~~r rure ~uch v~a~te,
anJ m~} apFxar ~n an~ w.h actu~n ur pnx~erJin~ arxl re~ain c~~umrl therrm. an~1 take wch ar~i~~n thrrri~ Mi~rtgagee
• drrm~ aJvnahle, anJ (ur any uf wch purpo+e+ ~iungagre ma~ ad~anre ~uch +um~ uf rrx~ney. ~nrluding all c~»t~, rea-
.un.~hir aU~~rnt~'+ Ire. anJ uther item. ~H r~prnu a. i! drem+ nr~r,~ar~ ~1~~n~agre ~hall t+~ thr,uir ~uJge u( ihe ir~al~
: t~ , v~lidi~y ~nd pnuni~ of any wch rlaim, lien, rncumbrancr, tai, a~K:ti,mrnl anJ prem~um and uf the arrx?unt nece~-
~ wr~ tu hr p:~iJ ~n ~aU.t:~rhun iherruf M~~rigager >h~N nut hn c~ld arcuunlahlc f~~r an~ dria} m mal~ing ~n~ ~uih pa) -
s nxnt, whiih drla~ may re~ult in any add~twnal inttre~t, cutitti. rhargr~, rtiExn+e~ ~~r utherw~u
i(1 ~1~~nga~;ur w~ll pe~ a~ 1lurtgagre. imrticJialrl~ ;~nd w~~h~~ut ~~mand. al! ~u?m ul nwney advarkrd h}
~ !~~~inKaEer to pro~ect the ,ecunt} here<?( pur.uant to ~his M~~ng:~ge. includ~ng all cu~t~, rrawnsbie aui~mry'~ (erti ;~nd
' ~~~her urm~ ~~f rtprnlr, w~;ether w ith mtrreu ~m cach.urh :x1~~arx•rment at ~he highr~! law ful ratr ~~f intcrr.t per annum
all~~wrd h} thc lav~ ~he State ~?t FlunJa, and ail wrh wmti anJ ~ntere~~ thrreun shall he ~ecured herehy
I I All wm. uf r?N~r~ry ~eru~eJ hsrehy tih~ll hr pa~~hlr Kilh~~ut ~n} ~elief ~ahate~er fn~m any ~aluah~m ur ap-
~ prai~rn~ent lawti
r
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~ I? If drfault he rn~~le in pa}mrnt ~~f an~ m~talnxnt ~~f pnnc~pal ~~r intere~l uf ihe i~i>tr ~~r any part therruf
~ w hcn due, or in pa~ mcnt, when due, or any uthrr tium ucured hercby, c?r in performar?te uf any uf MeKtgagur's ohliga-
~ tiunti. r~~~enant~ ~~r ngreementti hcre~erxlrr, all ~~f thr ~ndebledncs, ~erured herchy ~h~ll hrcome ~rx1 he immediateiy due
~ and payabie at the uption of Murtgagce, w~thoW nolice or ckmancl which are hereby erpressly wa~ved, in which evens
€ MunKagec may atiail i~tielf ut aii ngh~~ and remed~es. at law ~?r in ryurty. and thi.'?lurtgage ma~ be (~~rcclo~ed v?i~h all
nghtti anei remediet afforcitd by tFx laws uf Fkxida arxl Mortgag~x tiha~l pay all co~ts, charge~ and expenses thereof. ~n-
cluding a rcasonab{e attorney'~ fee. includ~ng ail such costs, ezpenses and attorney's fces, for any retnal, rchtanng or
appeats. TFx indebtedness securcd hercby shali hear intcrest at the highcst lawful rale of mtcrast per annum al{owW by
ttx lav? c?f the Stale uf Flunda frum arxl afier thr datt u( an} tiuch Je(ault uf Murtgagur. If ~he V~a~e pru~ ides (e~r ?mtal
ment payments, lhe Mongagce may, at ~ts ~?ption, collect a late charge a+ may be pruvidtd (or m tht Note, to re~mbur~e
the !~t~~ngagee for expenuti in coilecting anci ser~•~cing wch imtalmem pa} menh
I 3 If default tx mack in payment, v?hcn Jue. ~~f any irxiebtednesi tie~ ured hrrehy. ~~r in perfi~rman~e c~! an}
1~1~~rt~a~~rr'~ ubligati<~n~, a~vcnan~~ or agrcement hereundcr
1 a) Murigagee is autFx~rized at an~ tinx, w ithoul notice. in uti tiule dixretion to enter uFx>n and ~ake pi~ti-
` ~e~,i~m uf ihe tilungageJ Pn~Exn~ ~?r an~ part there~~f. perfixm any a~t~ !~ie?rigagec dcem~ nece+tiary ~x pruFxr 1~~re,n-
~ ser`~e ~he ~tcunty ancl t~~ r~~ilect arxi receive all rents, ~swe~ and prufitti thereuf, including thou past due as weli as thux
arcru~ng thcrea(ler. and
tbl ~+1~~ngagcc ~hal) he enhlicd, a~ a mattcr af Slnr~ r~ght, witFxwt ncx~ce arxi exparte, and witFxwt rr~
gard lo Ihe value ur occupancy of thr xcunly, or ~tx u~{vency of Mortgagcx, or ~he adcquacy oi ~tx Mongaged Pmperty ;
~ ~ ~~~KSyfi P~~E 992 !
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