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Home My WebLink About0734 4 J . , . . ` ~;4 . . ~ r ~ apply such er~ts, issues ar~d protib received by it on the lndebtedn~e secured hereby [n auch order as Mortgagee deter- aunes. Ths tiaht Ro enter and take pos~eeaion o( tbe Mortgn~ecl Propsrty~ to manage aad operete the same. and to collect ~ tl~e renta. iMUes and protib tl~ereof. whetl~sr by a receiver ar otberwiss. ~hall be cumulativ~e to any other right or remedy I~ereunder or attor~led by law. and may bs esescised rnncurrendy therewitb or independently thereot. MortBagee ehall be IiaWe to account only for sucb renta. i~sue~ and protib aMually received by Mottiaaee. 14. It tbe indebtedneas ~ecured hereby is now or hereatter turther secured by chattel mortgages~ aecurity interesta. financins ttateme~ts„ pledses. contracts ot suaranty. assisnmenb of.lea~. or other securities. or i[ the Mortgaged Pro- perty bereby encumbered consist~ of more tLan one parcel ot real pmperty~ Mort~aaee m~y at ib option exhaust any one or more of ~aid ~ecuritiea ar~d security bereunder, or such parceb of the secutity hereunder. either coricurrently or inde- Peudenlly. and in wch order as it may deterraine. lb. Thu Mort6age ~hall secure not oniy e:istir?a indebtedners. but also such tuture edvances, whether sucb ad~ancee are oWiaatory or to be made ut the option oI Moctgagee, or otherwise, as are made within twenty (20) yean ~rom the date hereot. to the ~ame estent as it such tuture advances were mnde on the date ot t6e esecuxi~„pb tl~j~Mortgege. but such ~ecured indebtednea~ shell not e:ceed at any time the maYimum psincipal amount of i 3 U U V plue interest, aad any disburoemenb made tor the payment ot taiea. levies, or insurance, on tbe Mortgaged Property. with interest on such disbunemente. Any suc6 future advancea, whether obligatory or to be made at the option o[ the Mortgagee, or otherwi~e, may be made eitber prior to or atter We due date ot th~ Note or any otl~er notes secured by this Modgage. 'IUia Mottaage is 6iv~eei? tor the specitic pur~w~e ot securing any aod all indebtedne~s by the Mortgagor to Mortgagee (but ia ao event shall t6e secured indebtedners ~ceed at any time the a~asimum principal amoant_set torth in this paragrapb) in whatever manner this indebtednees may be evidenced or represented, uatil t6is Mod~e is satiafied ot record. AU coven- 811t8 t~Ild 8g~'BB1R@I116 COlI~SIM'~ ia this Mortgage shall be applicable to all further advances made by Mortgagee to Mortaa~or nnder this futur~ advance cl~euse. 3 . . 16. No delay by Mo=tgagee in exercisin6 ar~y rigbt or remedy Lereunder. or otherwise attorded by law. ahaU operate as a waiver thereo[ or preclude the ezercise thereof during the wntinoance ot any detault hereunder. No waiver by Mortgeaee ot any detauli s#~ali conrtitute a waiver o[ or consent to subsequent defaults. No failure of Mortgagee to exerciae any option herein aivee to accelerate maturity of t6e debt hereby secured. no torbearance by Mortgagee betorc or a[ter the e:ercise ot such option and no ariWdrawal or abandonment, ot torecfasure proceedins by Mortgagee ahall be taken or con- strued as a waiv~er of ib risht to ~erci~e suc6 option or to acaoelerate tl~e maturity ot the debt hereby secured by reason ot any p~st, preaent or tutute detault on the part of Mortaagor; and, in like manner, the prociirement of inauranee or the p~y- ment of t~es or otLer liens or charges by Mortgegee ahall not be taken ot construed as a waiver of ita right to accelerate the maturity o[ tLe debt hereby secured. 17. WitLout atfectins t6e liability ot Mortgaaor or any other person (e:cept any peraon e:preasly released in writing) tor payment ot any indebtedneas secured 6ereby or for pertormance o[ any obligation coatained hereia. and without atfect- in6 the rishts ot Mottgagee with re~ect to any security not expreesly releaaed in writing. Mortgagee may, at any time and trom time to time. either 6etore or atter the maturity oE aaid note. end without notice or consent: (a) Release any person lieble for peyment of all or any pad of the indebtedneas or for pertormance of any obligation. (b) Mai~e any agreement e:tendiag tbe time or otherwise altering tl~e terma of payment o[ all or any Pert ot the indebtedneas, or moditying or waiving any obligation. or subordinating, modifying or otheiwiee dealing with the lien or cttarge 6ereof. - (c) Ezetrise or refrain fram ei ercising or waive any right Mortgagee may have. ~ (d) Accept additional securityof iiny'kind. . ' ' (e) Release or ot6erwiee deal with any Prop~rtY, real or pe~sonal. eecuring the indebtedneas, including all or any part o[ the Mortgaged Property. r . • . ~ .i 1& Aay agreemeat hereafter made by Mortgagor ard Mortgagee pureuant to thia mortgage ahall be superior to the rig6ta ot the holder ot any interwenina lien or encumbtancP. ' 19. Mo ~ . . ~ rtaagor hereby wai~;alY.ri$bt ct 1?om~tead ezemption, if any. in the Modgaged Property. ~'i 20. Ia tbe event of rntdea~fiod ~troceedingb ~of the Mortgaged Property~ the award or campenaation peyable t6ere- i under is hereby aesigned to aad aLall be paid to Mortgagee. Mortgegee ahsll be under no obligation to queation tbe amount ~ of any ~uch award or oompemation aad may aecept t6e aame in the amount in which the aame shall be paid. In any auch i condemnation pmceedin~s. Mortaagee may be represented by counse! selected by Mortgagee. The proccecis of any award i or rnmpensation so received s6a11, at the option ot Mortgagee, either be applied to the prepaymeat of the Note and at the I rate ot intereat provided therein, regardleas ot the rate of intcrest payable on the award by the condemning authority. or at ~ the optioa of Mortgaaee. auch award shall be paid over to Mortgagor foi restoration of t6e Mortgaged Property. ~ , 21. If Mos~gagee, parauant to s rnnstn~ction loan agreement or loan commitment made by Mortgagce with Mortgagor, aat~ees to make eonstruction loan advan~es up to the principal amount of tbe Note, t6en Mortgagor hereby rnvenants that it i wiU comply with all of t6e terms, proviaioas and rnvenanta o[ eaid rnnstruction loan agreement or loan rnmm.itment, will ~ diligently comdruct the improvementa to be built pursuant to the terms thereof. all ot t6e terms ~hereof which are in• . corporated herein by reference as tl~ough set torth t~illy he~in and will permit no defaulte to occnr thereunder and if a de- ~ fault eball occur thereunder. it shall oonstitute a default under Wis Mortgage and tl~e Note. ~ 22 At tl~e option ot Mortasaee~ Mortgagor ahall provide Mortgagee with periodic certitied audited atatements of tbe ~ Cu~ancial eondition of Mortgagor. 23. Mortaagor repreeeats aad warrants t6at if a corporation, it is duly orsanized snd validly e:istina, in good atend- ing under the laws of the atate of its incorporation, 6as etock outatanding w6icb has been duly and validly iesued, and ia qualified to do busineas end is ia ~ood alendins in tbe 3tate of Florida, with full power and authority to consummate tbe € loan rnntemplated 6ereby; and, if a partnership. it is duly tormed and validly ezisting, and is fully qualified to do buaineas ~ in the 3tate of Florida: with faU {wwer a~ suthority to conaummste t6e loan contemplated hereby. r ~ 24. In t6e event any o~ or more ot t6e pmvisions rnntained in this Mortgage or in the Note ehatl for any reason be held to be invalid, illegal or unenioroeabie in any respect, such invalidity, illegality or unen(orceablity shaU. at the option of the Mortga6ee, not attect any otLer provision ot this Mortgage, bnt this Modgage sball be conatrued as if auch invalid, illegal or unenforoeaWe ptovision had never been rnntained herein or t6erein. Tbe total interest payable pureuant to the Note or this Mortga6e ~hel! rat in any one year e:ceed the highed law(ul rate ot interest in tbe 3tate of Florida. a ~ 26. T6e covenanb and asreemenb 6erein oontained abaU bind and the beneti4 and advanlages s6a11 inure to the respective heirs. ~ecvtore, administratoes, succ~eseors, and assigns of t6e partiea hereto. Wheeever used, tl~e singular g number~shaU indude tbe piurel. the plurel t6e singular, and t6e use of anq geader e6a11 be epplicable to all genders. Ap ~ covenanfa, aare~enb aad undertekings ahell be joint and eeMeral. In tbe event additional nutn6ered eovenanta or para- ~ graphs are for oonvenienoe inserted in thia Mortgage, such edditional covenanb e6a11 be read and siven ettect as though following this covenant in consecutiv~e order. ~ ~ -3- - t s d00K P~E ~ ; ` . - - <