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Home My WebLink About0512 . ~ . u~~~~ly au~•h rent~ iirye+~ pr~i protib ebcelvbd by it o~ ths iodebtedne~s ~vred hereby irt wch order as Mort~a~ee deter- aiines. TM riaht to enter and lake ~x~sion of the Mort~a~ed Propetty. to msna~e aad operate tAe same, and to collect the renb, inuer arid protita tbereo/, whether by s recsiver a~ othsrwi~s..hsu ba cua,u~.uw a aAy othe~ ri~bc or rem«~y hereunder o~ af[orded 6y law, and roay bs exerci~ad coocurrently therewith or independenNy thpt+eof. Mortga6ee ~ali be liable to account only tor such renta, iauer aad protits actually received by Mortsa~es. 14. It the indebtednea ~-uced heceby u now or he~atter tucther ~ecuced by chattef mottgases, ~acurity iaterest~. (inancins stataraents„ pledaea. contrarb ot suasanty. arignm~nb ot I~a~+s, or other ~ecurities, or i! tl~e Mortaaaed Pro- pedy hereby eticumbered rnraiats ot more t6an one psroel of rosl pmpetly~ Mort~ee msy at i4 optioa e~chau~t any one os more ot snid ~ecudtie~ and oecurity hereunder. or wch psrcela ot ths ~vrity h~reundsr; sithes con~vrreaUy or inde- pendent~y. and in nuh ordae a~ it may determiae. ~ lb. 'l~is Mortgage shall secure not oaly a:istina indebtedne~s. butglso wch tuture advances, whether such advances ere obli~atory or to be made at the option of Mortgasee. or otherwi~s. as are amds within hreaty (20) yeats ltom ths date hereot. to the same ette~t ea it such tuturs advances were made on tbe dats ot the e:ecution ot thi~ Mortgaae~ but ~uch eecured indebtedner ahaU not esreed at any time tbe maximum principai amount ot: - 19 ~ O~Q,+00 plu~ interest, and any di~buraements made tor the paymeat ot taxe~, levies. or insu~ance, on tl~e Mortgaged Propedy, with interest on such di~buraennents. Aay such [uture advancea, whether obligatory or to be made at the option of the Mottgagee, or otherwi~e~ atiay be taade eitlrer ptior to or after the due date of the Note or any other notes recured by t6ia Mortgage. This Mortgage is siven tor the specitic purpwe ot securit~ any aAd a11 indebtedne~s by tl~e Mortaagor to Mort~ee (but in no event ahall the secu~ed indebtednear e:eeed at any time the ma:imum principal atnount ~et forth ia this paragraph) in whatever manner this indebtednees may be evidenced or repreeented. until thie Mortgage is aalistied ot record. All coven- anfa and agreementa contained in this Mortgage shall be applirable • to all turther advances made by Mortgagee to Mortgagor under this tuture advance clause. 16. No delay by Mostgagee in e:ercisina aay ri~ht or remedy hereu~er. or otherwiae attorded by taw, sheU operate ua a waiver thereof oe preclude the e:ercise thereof during the continuance of any detault hereunder. No waiver by Mortgagee ot sny default ahall constitute a waiver o[ or conseat W subsequent defaults. No tailure of Mortgaaee to exercise any optioa herein 6ivea to ac~ceJerate aoaturity ot the debt hereby secured, no torbearance by INortgagee before or atter the e:errise o[ auch option and no witbdrawal or abandonment o[ toreclosure proc~eeding by Morigagee ahall be taken or con- ~ atru~d aa a waiv~er ot ib risht to e:ercise such option or to accelerate the maturity of the debt hereby aecured by reason ot any p~st, preeent or fuhtre defau[t on the part of Mortgagor; and, in !'el~e mwnner, the pencurement ot insurance or the pay- ment ot taxes or otber liens or cbsrgea by Mostgagee shall oot be taken or construed as a waiver ot ita right to accelerate the maturity of the debt hereby secured. 17. Witlaut sffecting !he liability of Mortgagor os any other person (except any pereon e:preasly released in writing) for payment of any indebtedneas eecured hereby or tor perioraAance ot any obligation contained herein. and without atfect- it~g the rights of Mortgagee with respert to any eecurity not exp~asly released in writing, Mort~agee may, at any time and tmm time to time, either before or after t6e maturity of aaid note. and without notice or rnneent: (a) Releese any person liable tor paya?ent o[ all or any pert o[ tbe indebtedneas or for performance of any obligation_ (b) Make any agreement extending the time or otberwise alterins lhe tem~s ot payme~t of all or any part o( the ' indebtedneas, or modifying or waiving any obligation, or subondinating~ moditying or otherwise desleng with the lien or charge hereoL (cj E:erciare or retraip trom e:erriaing or waive any right Mortgagee iaay hsve. , ~ (d) Accept additional security of any I~ind. . (e) Release or otherwiae deal with any pmperiy. reai or personai, securins the indebtedneas~ including all or any pa~rt of the Mortgaged Pmperty. • 18. Any agreement hereatter made by Mortgagor and Mortgagee pursuant to thia mortgage ahal~ be superior to the righte o( the holder ot any interv~ening lien or encvmbrance. 19. Mortsagor hereby waivea aI1 right o( homeatead e:emption, it any. in the Mortgaged Property. 20. In the event of condemnation proceedings of the Mortgaged Property, the award or compensation payable there- under is hereby ateigned to and shalt be paid to Mortgagee. Mortgagee ahal) be under no obligation to question the amount of any such awar~ or rompenaation and may accept the same in the amount in which t6e aaane ahall be paid. In any such condemnation praceedings. Mortgagee inay be represented by counsel aelected by Moctgagee. Tbe pmceede o[ any award or compe~roation eo received ahall, at the option ot Mortaagee, either be appGed to the prepeyment of the Note and at the rate of intenest provided therein. ne.gardlees o[ tbe rate of intet+eat payable on tbe award by the condemning authority, or at the option of Mortgegee. suc6 award shall be paid over to Mortgagor tor restoration ot the Mortgaged Propetty. 21. If Mortgagee. pursuant to a construction laen ugreement or laen commitment made by ~iortgegee wit6 Mortgagor, a8raes !o make rn~truction loan advancea up to the principal amount of the Note. then Mortgagor 6ereby covenaAts that it - will rnmply wit6 all oi the tertns, provisions and covenenb ot aaid const~uction loan agreement or loan couunitment, wiJl ; diligently rnnstruct the improvements to be built puisuent to the tet~ns t6ec+eot, aU of tbe termt thereoE• w~Iiich are in- 4 corpotated heeein by reterenee as thoug6 set forth fully herrin and will Qe~it ra deteults to occur thereunder and if a de- fault shall occur thereunder, it s6all constitute a default under this Mortgase snif'tbe Note. . 22. A! the option ot Mortgagee~ Mortgagor ahall provide Mottgagee with periodic certified audited statements ot the financiel condition of Mortgagor. 23. Mortgagor repr~sents and warranb t6at it a corporetion. it is duly or6anised and validly e:istins, in 6ood stend- ing under the laws ot tbe atate ot ita incorporation, has stock outstanding whict~ has been duly and validly iswed, and ia qualitied to do buriness and is in aood standins in tbe State ot Florida, wit6 full povrer ana euthority to consummate tbe loan contempleted herrtry; and, if a perlnenhip, it is duly farmed and validly ezisting~ and is fuily qualified to do business in the State ot Florida: wit6 fal) power and authority to consummate the loan contemplated hereby. ~ 24. In the event any one or mo~e of t6e provisions contained in this Mortgage or in~tl~e Note shall for any reason ~ be held to be invalid, illegal or unen(omeable in any respect, such invalidity. iUegality or unento;ceablity~ shall, at tt~e option of the Mortgagee, not attect anq other provieions of this Mortgage, but this Mortgage shall be oonatrued aa it auch invatid, itlegai or unentameable provision hed never been rontained herein or therein. 'I'he total intereat peyeWe putsuant to the Note or this Mortgage shal! not in any one year exceed the hi6hest lawful rate o! interest in the 3tate of Florida. 25. The covenants ar,d a~reemenb herein contained ahaU bind and the benetita and advantagea shall inure to the respective heirs. ~ecuton, administratocs, succeseors, and affiigns ot the partiea 6ereto. Wherever used, the singular number a6a11 include tl~e plural, the plural the singuiar, and the uee ot any gender slutll be applicable to ail gendeia. All covenants. sgreemenb and undertakings shalt be joint and acweral. In t6e event additional numbered covenants or para- grapta are tor convenience inserted in this Mortsage, such additional rnvenanta shall be read snd given ettect as thougb following t6is covenant in rnnsecutive order_ -3- B~ox 27~ ~~E 512 _ 4 _ . ~ ~ ~ - z:~:A~ 4i ~~vi ;i