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Home My WebLink About0927 ~+r. ' ~ i hereby. The enfo~ceability c~f the covenants reiating t~~ taxes, assessments and insurunce ~+~emiums t~erein othetwise ~ pruvided shall nc~t be affrcted except insufur as lhuse obligatiuns huve t~een met by compliance with this pa~ug~aph. ~ ~Morigagec may f'rom tinie to time at its option waive. and aRzr any such waiver reirtstate, any ar all provisions hereof - ~ reyuirinb surh depe~sits, by r~t:tscc to Mortgagor in writing. While any such waiver is in effect, Mortgagor shall pay taxes, assessmcnts and insurance premiums as herein elsewhere provided. ' 4. To promptly pay all taxes a~:d assessmenls assesseJ ~~i levied under and by virtue of any state, fede~af, or ~ munici~al law or r~~ulation he~eafter passed, againct Mortgagee upon this Mongage or the debt hereby secured, c~r up- i ~in its interest under [his hlurtgage, provided however, lhat the total am~wnt so paid fur any such taxes pursuant tc~ this t ~ paragraph togcther with the interest payable on said indebtedness shall not exceed the highest lawful rate of interest in ~ Florida and pruvided further lhat in thc event of the passage of any such law or regulation irn~sing a tux or asscssment against M~~rtgagee upon this Mortgage ar the d~bt secured hereby, that the entire indebtedness secured hy this Mortgage ~ shall thereu~+on becc~me immediately due and payable at the option uf Mortgagee. ~ 5. Tu keep the :~4ortgaged Properiy insured agair~st loss or damage by fire, and all perils insured against by an , extended ruverge endonement, and sucl~ other risks and perils as Moitgagee in its discretiun may require. The policy or ~ ~licies of such insurance shall be in the forn~ in generai use from time to time in the locality in which the Morigaged ~ ProEx rt~ is siwated, shall be in such amount as hlortgabee may resonably rcquire, shall be issued by a cumpany or com- , ~ panies a~proved by Mortgagee, and shall contain a standard mortgagee cl~use with loss payable to Mortgagee. Whene- , • ver requimd by Mortgagee, such palicies, shall be delivered immediately to and held hy Mortgagec. Any and all ~ amounts rec~i~~ed by Mortgage~ under any of such policies may be applied by Mortgagec ~h the indebtedness secured hen;by in surh manner as 111ortgagee may, in its se~le discreticm, elect or, a[ the option of Mortgagee, thc entirc amcnml ~ so received or an~ part thereof rnay be released. Neither the application nor,the release of any such an:ounts shall cure or waive any default. UFx~n exercise ~zf tt~c power of sale given in this MorigaFe ur other acquisition of the Mortgaged ~ ~ Property or any part thereof by Mortgagee, such policies shall become the absolute propeny of Mortgagee. _ ~ ~ E G. Tu f rst obtc.in the written consen[ ~f Mortgagee, such runsent ro be granted ar withheld at the sole discre- F tion af Mortgagec, before (a) removing or demolishing any building now or hereafter erected on the oremises, (b) al~er- E ing the arrangesnent, design or structura; character ~hereof, (c) making any repairs which invulve the removal of strurtu- ~ 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 timt,er on the Mortgaged Property, (e) removing ar exchanging any tangible personal prop- ~ ~ erty which is part oi' the Mortgaged Property, ur (n cntering into or modifying any leases of the Morigaged Property. ~ 7. T~~ maintain the Mort a ed Pro rt in ocxl condition and re air, irteludin but no± limited to the makin i . 8 ~ Y S P' g g ~ of such repairs as Mortgagee may from time to time deternnine to be necessary for the preservation of the Mongaged Q : Property and to not commit or permit any waste thereof, and Mortgagee shall have the right to inspect the Mor!gaged ~ j Property an reasouable noticc ro Mo~ tgagor . - _ . ~ ~ _ 8. To comply with all laws, ordinanres, reguiations, eovenants, conditions and restrictions afFecting the , Mortgaged Prop~::~~ ; and not ro cause or permit any violation thercof. ~ ~ 9. If Ntortgagor fails to pay any claim, lien or encumbrance H~hich is superior to this ~lortgage, or when due, ~ uny taz or assessment or insurance premsum, or to keep the Mortgaged Propesty in repair. or shall commit or permit ; H•aste, or if there be cammence~ any actian ar proceeuing affecting the M~~~gaged Property or the title theret~, or the ~ ~ interest of Mortgagee therein, including, but not limited.to, eminent domair, and bankruptcy orreorganization proceed- ~ ~ ings, then ~lortgag~c:, 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 cure such wasie, 't ~ - and may appear in any such action or pnx:eeding and retain counsel ti~erein, and take such action therein as Mortgagee ~ r " deems advisable, and :or any of such r:iirposes Mortgagee may advance such sums of money. including all costs, rea- _ sonable attome} ~s fees and other items oCexpense as it dcems recessary. h1ortgagec shall be the sole judge of Ihe legali- ~ ty, validity and priority of any such claim, lien, encumbrance, tax, assessment and premium and of the amo~nt neces- ~ sary to be paid in satisfaciion thereof. Mortgagee shall not be held acco~~ntable Cor any delay in making any such pay- = ! ment, which delay r:iay res~~it in any additional interest, costs, charges, expenses or otherwise. . ~ ~ 10_ Mortgagor will pay to Mortga~ee, immediat~ly and w•ithout demand, all tums of mone~~ advanced by hlortgagee to protect the security hereo~ pursuant to this l~tortgage, inciuding all costs, reasonable attorney's fees and I~ other items of expense, together with interest on each such advanceme~t at the highest Iaw~ful rate of interest per annum a11oH~ed hy the law o~ the State of Florida, and all such sums and interest lhereon shal) be secured hereby. ' . ~ I 1. All sums of money secured hereby~shall be payable without an~+ relieCwhatcver from any valuatic,n or ap- I ~ praisement laws. . ~ t~ 12. If default be madr. in pay~nent of any instalmcni of principal or interest of the Itiute or any paR thcreof ~ when due, or in payment, when due, or any ather sum secured hereby, or in performance of any of Mortgagor's obliga- . ` tians, co~ enants or agreem~nts hereur.der, all of the indebtedness s~cured hereby shall become and be immediately due ~ and payable at the option of Morigagee, without notice or demand which are hereby expressly waived, in which e~~ent ~ Mortgagee may avail itself oi all rights and remedies, at law or in eyuity, and this Mortgage may be foreclosed with ail ~ rights and remedies~afforded by the laws of Florida and Mort~agor shal) pay a11 costs, charges and expenses thereof, in- ~ cluding a reasonable attorney's fee; including afl such c4sts, expenses and attorrjey's fees, fer any retrial; rehearing or ' " appeaLs. The indebiedness secured hereby shali bear inter~l at the highest lawful rate of interest per annum allowed by £ ~ the iaw of the State of Florida from and after the datc of any such dcfault of Mortg:,gor. If the Note provides for instal- ment paymen:s, the Mortgaoc~ may, at its option, collect a late charge as may be provided for in the Note, to reimburse ~ the ~forigagee for expenses in collecting and servicing such instalment payments. I~ • I 3. If default be made in payment, when due. vtany indebtedness secured hereby, or in performance of any of ~ ~ Mortgagcr's obligations, covenants or agreement hereunder. _ - ;r ~r . ~ ~ _ F (a) Mortgag~e is authorized at an~ time, without nutice, in its sole discretion to enter upon and take nos- - session of the Ivlortgaged Property or any part thereof, to perform aay acts Morfgagee deecns necessary or proper to con- serve the security and to collect and re~ei~e all rents, issues and profits thereof, incleding those Past due as well as those f accruing thereafter; and . ~ - _ " (b) _ Mortgagee shall be entiQed, as a matter uf strict right, wichout notice and exparte, and w~th~ut re- ' gard to tne value or occupancy of'the securiry, or the solvency of Mortgagor. or the adequacy of the Mortgaged Property aoox 389 p~cE ~28 ~ _ ~ _ _ ~