The URL can be used to link to this page

Home My WebLink About0532 a . ~ ~ ~ , S'_~' ~ ~ aNPIY such rents. i~sues aod profita received by i! on tbe indebtedne~s ~ecurad lwrsby In such orde~ at Mort~agee deter- ~nines. The rlght to eater and taks pore~ion ot tbe Mortsapd Properiy. to mar~a~ snd operate tl~s same, and to collect the reat~, i~a~ and protits tboreot. wlwtike by ~ reosiwr or othsrwi~s. ~ball bs cumuletivs to any other ria4t or rem«ty bereunder or atfotdsd by la,w, and muy be e:erciasd concurrently tMrswith or ind~peAdeat~jr thereot. Mortaa~ee ~hal! be liaWs to acoount only [ot such rent~. Lsues and protib sctwUy rsosived by Moetaa~es. 14. It the indebtednas ~ecuied bereby is rww or hereatter fuKhet iecured by cl~attet auortgagee„ ~erurity iate~+ests. ~ir~ancins atatameuts, piedse~. contracts ot suaraaty, as~iYameats ot tears~, or otber ~scuritie~„ or U tbs Mort~uused Pro- PertY 1~ereeY •mvmbered consists ai more tlian one psn~el ot resl P~KY, Mo~B~ may at its option esbawt aqy o~e or more ot wid ~ecuritie~ arw~ ~curity Lerew~der. or airh parcels ot t6e ~ecurity hereunder. eitt~er concurrendy or indr PendenW?. and in ~ucb order as it u~y deteraoino. 16. '1Li~ Mortaaae s6ait aocure Aot oa~y ezistin~ indebtednew, but abo web [uture advances, whet6er wch advancea ars obiiaatory or to bs made at the optioa of Martse~ee. or otlu:wi~e. se se~e mads withiu t~veuty (20) Yea~s Arom tbe dute 6ereot. to tl~e asme extent a~ i! sucb tuture advar~ees aers maJa on tbe date ot the e:ecution oi this Mortaege. but such secured indebtedne~s ahalf not e~ccead at any time tM masimum principal amouat ot i- 7800. 00 plu~ iatere~t, aad any di~b~rssmenb mads tor t6e payment ot tazea. levie+. or inwrance. on the MoM~aaed PropertY. with inteee~t oa auh disbunement~. Auy wc6 [nture advances. whetber obli~{ator~r ar Eo be mede at the option of ihe Moitltaaee. or otbezwi~ may be made eitber prios to os atter tbs doe dats of tbe Note or sny other note~ aecured by fhi~ Mortaa~e. This Most~age u aiv~en tor the specif'ic purpo~e ot secuti~ any and a11 indebtedne~s by the Mortgasor to Mort~asee (but in ao eveAt shall the ascured indebte~dneM ez~eed at sny time tha mazimum principal amount ret forth ia tlw Para~raPh) in w6eteMer manner t6is indebtedneas may be eviden~ed or repe+esanted. until tluw Mortaaae is satistied of record. All coven- aats and aareemeats coatained in this Mortsaae ehaU be applicable to aU tnrther advances mads by Mortgegee to Mortgeaor under t6is fpture advanee clawe. - 16. No ~ by Mortsaseo iu exercisint any rig6t or remec~r hereunder. or otberwis~ attorded by law. ahall operate a~ a waivar tlaereot or prech~ds tbs ~ercise theteoi during tbe continuance of any defau~t hereunder. No waiver by Mort~ee oE aqy detault ~6s11 consEitute a waiver ot or oon~t to snb~equent detaults. No feilure of Mortaaaee to ~errise any option herein aivea to a~aelerate mahuit~? of !he debt hereby secured. no torbearaace by Mortaasee betora or atter the eserci~e ot wch option and no ~vithdsawal os abaadonment af toreclosure proceeding by Mortgesee s6a11 be takep or oon- " drued a~ a waiver ot ib ti~bt to e~eerisa aich option or to socelerate the maturity of the debt hereby secured bj? reason ot any l~sst. present or future deisult on tLe pait of Mortsegor: and. in Wte m~nrier, the prncurEment of insuranee or t6e pay- ment ot ta~ter or atber liem or chat~es by Mortgaaee s6a11 not be taken or co rued as a_ iver of ib right to accelerate the waturity of Wa debt 6erebY secured• i~ w~ 9 !t !a f.. 17. Without a[tsctina tbe liab;lity ot Moregaaos or eny other pereon te~ce~ aw? Fe~.oa~spe~.aly released ;n wr;ting) tor jsayment oE aqq it~debtednea~ secure~l hereby or [or pedormanoe of any obli~tian contaiped herein, and witlwut attert- in~ the aishb ot Mo~ee~wriW reape~.~t to any secatit3? not ezpreedy relee~ed iA ~W1E. M~tga6ee maY. at any,time ~and fe~om time to time. eit6er 6etore os after the maturity of esid note. and withdut bofoe or.conseoi~ ; ~si r (a) Relm~s aqy person iiabie for paymeat ot all or any part of t6e indebtedneas or for perforroanoe o[ any obtiaation. (b) Make any sareement eztendins the time or ot6erwise alterin~ the terms ot paymeat of all or any pad o[ tbe iadebtednee~. or modityins or waivina anY obligation. or subordinetin~ modifyin6 or otberwise dealina with tbe lien or cbar~e hereof. _ (c) ~cerciae or re(rain imm ~ercisins or waiv~e any riaht Mottaaaee may bsve. -(d) Accept additionai aecurity ot any i~innd. . (e) R~elea~e os ot6erwise deal witL anY P~~3?~ ~a1 or perwnal. securins t6e indebtedneea. includin~ alt or any part oi t6e Mortaaged Propetty. 18. Any aareemeat hereafter made by Most~or and Mortsaaee puesuant to this mort~age sbal! be wperior to the rig6ts. o[ tbe holder of any interMenins lien or etxvmbra~ce. 19. Mortgasor hereby waivw ai! rig6t ot 6omm~ead e:emption. if any. ia the Mortaaged Property. 20. In the eveat oE coademnation prooeedinp oE the Mortaaaed Property. tbe a~vard or oompensation payable_ the~+e- under i~ her~? arsigned to and s6ali be pald bo Most~ee. Mort~ae ~Lall be under ~ obligatioa to question the amount of any sw~ awetd or co~npe~aation u?d may aooept the rame in the amount in whid~ the seme sball be paid. _In any auch condemnation prooeedin~s, Mo.~rtaaaee may be repreaented by ooun~el selected by Mortgagee. The proc~eds ot any award or compeneation w.receiv~ed a6aU. at the oplion oE Mortaag~ee, eit6er be applied to the P~ep~aYment oE the Note and et the rate ot interest pmvided therein. regard~s ot tbe rate of intereR payable on tbe sward by the condemnina suWotity. or at tbe aption of Mortaagee, such award ehall be paid over to Mortgasor [or restoration of the Mortgaged Property. 21. If Mortgaae~ pnnuant tu a rnnd~nction iaan agreement or laan commitment made bq Mortgagee with Mortgagor. aareer to mahe coadtuction loan advance~ up to the prinripal amonnt of tbe Note. then Mortgagor 6ezeby covenanta that it will comply wit6 all ot tbe ~emm~. pmviaions and cov~enants oE sai'd oondsnction loan agreemeat or laan rnmmitment; will dili~entl~r oomtr~ct the imProv~tmenb to 6e bnilt pu~uant to the terms thereoi, all o[ tbe tetms thereof rvhic6 are ~ in- corporated herein by retereaoe ar though set forth [ully berein swd will permi! no detaulta to occur thereunder and it a de- fanlt shaU occar t6et+eunder, it ~hall comititute a default under thes Mortgage and the Note. - 22. At the option of Mortaageo~ Mortgagor shsll provide Mortaagee wiW periodic eertified audited etatementa of tbe Cinancial condition oi Mortgagor. 23. Mottaaaor reQre~eats aad warrants that if a rnrpoeation, it i~ duly or~anised aad validly e:isting, in good stand- ina under the laws of the state of ib iacorporation. haa stoc.k outstandit~ which has been duly and validlY iewed. and is 9nelitied to do business and is in good standina in the State of Flo:ida, witl~ hill pawer and antbority to oons~mmate tbe loan oonte~nplatecl hee~eby: aad. if a pettneiahiP. it is duly forn~ed and validlY ezistina, and is fnAY 9ualified to do busineas ~ in- tbe 8tate of Florida: with fnll po~ver and antlwrity to rnnsummste the loan contemplated het~ebq- 24. In t6e event aay one ~ awre of tbe provieions confiained in this Alortgaae or in tbe Note shall for aay reason be 6eld to be invalid, illagal or unentorceable in anq respect, snch invalidity. illegalih' or unentorceablity a6a11, at the option of We Mortgagee, not aifect any ot6er provisions of this Mortgaae, but this Mortgage shall be eo~trued as if sacL invalid, illegal or unen[orceabte provision had ~ner been contained herein or therein. 1Le total interrat peyable puiwant to the Note or thi~ Mort~aae ahal! not in ar?y one year exceed the highe~t Iawfol rete of iatee+est in {}~e 3tate ot Florida. ~i. Tbe Eovenan4 and age~eeateata betein ooatained ahall bind and tbe benetita aad advantaaes shall inure to the res~tiv~e bei~„ e:ec.,~ton, samiaiatrato.s, sacceesois, and se.i~us ot tbe parties 6ereto. wheiev~er u.ea, tbe su,6ular numbes ~6all indude the plural, the plurel t6e singular, at~d t6e use ot anY Seader s6a11 be applicable to all genden. All cavenaub, a~reemen4 and undertekin6s shsl! be jouit and eE.weral. In tbe rvent additionel nnmbered eov~enaats or pa~a- araPbs ac~e for oenvenienos inserted ia tAia Mortgase, iuch additional rnvenanta aball be r~d aad given etfect as thwgb tollowina tLis oovenant i» rnnsec~tive order. s -3- a~27~ ~ ~ , ~ ~ _ . _ _.,r-~ - _ - - . - - - - - - - - - _ _ _ _ : _ _ _ _