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Home My WebLink About0796 . . . j apply sucb rents, iasue4 aod protib recsi~~ad by it oe the ~ndebtednen secured hsreb~? in ouch order as Mortga~ee deteh mine~, '1'he risht ta epter ta~. ot tbe Mortga~ed Property. to manr~e and operate t6e same. and to collect rish tbe renb. i~~ ana~ P~~t~reot. bY a noeiver or otMeM?i~s. dwU bs cwnulativ~s to any other risbt or remedy hereunder or dtorded by law. and mw bs eserci~sd ooacurrsatly ther~vitb oe indepsndeatly tbee~sut. Mort~es shall be liable to accouAt only tor ~uch re~?t~„ i~sue~ and protib aMw~Uy recoivod b~r Mortia~ea ' 14. It ths iodebtednas ~ecurad hereby L Aow or hereatter turther ~ecured by chattel mortgates. ~ecurity interesb. tinanci~ ~tatemeata~ pled~es, contracts ot suaranty. aa~ilcameat~ ot lea~es. or othss ~acudtie~, or i[ the Mortsaaed Pro- perty bereby encumbersd ooiaids ot mor~ than oas pae~oel of red PropsttY. I?dotti+~e~ m~y at !4 optioa e:hau~t anp oi?e , or aars ot ~aid ~scuritie~ and ~ecudty 6eteundes. or wd~ paeosl~ ot Ws iecurity heceunder. elther concurrently or iade- Pe~u1?. uad ia a~c6 ordss a~ it may deteraaine. 15. 1bi~ Mortaaas ~h.ill secure not ody ezistins uxleb~ed~e~. but ~ atch tuture advances, whetleer sucb advances • ars obtisatory ot to be mads at the option ot Mortaages. or otbeewue. as ars mads witbin twenty (20) Yesss irom the date bereot. to the a~ms estent as it wch tuture advanees were made on tbe dete ot tbe esecution of '~Mortgage. but such ~acured indebtodner ehall t~ eicoed at aqy time Ws ma:imum principa) amatnt o[ i--.- plus iaterest. and any di~bnr~eaunts mede far the payment af ta:es. levie0. os i~urance. on the rtassed PmpertY. with inter~t on aich disbutsemenfa. A~? su~h tuture advances. whethes o6iiaatory or to be made at the option of the Mortaasee. or ot6erwi~e. aaay be made eit6er prior to or after tbe due date ot tl~e Note or any otLer tates ~scured bi? this Mortgaae. < T6i~ Mortaase is aiv~en Ior t6e q~ecitic purpwe ot aecurina any and sU indebtedaess by ths Mortgagor W Mortaases (but in ao ev~ept a6a11 the iecuced indebte~s e~cceed at anp time ths marimum principal amount ~et torth in this Pa*egrePb) in - whatev~sr aoanner this indebtedner maY be evideaced or represented. until this Mortaase is eatisf'ied ot record. All coven- anb and ase~esmen4 oontained in tbis Mostsaae a6aL be applicable to all futther advances made by Mortaaaee to Mort~or undes t6is fuhtre advanc~ dsu~s. 16. No delay by Mort~ee in ~ercisins any right or remedsr here~u~der.-or otherwise atforded by law. shaU operate as a waiver tbereol or preclude ths eierci~s lbereo[ durins the coatinusnos of any de[autt 6ereiuider. No waiv~er by Mort~es of any default ~all coastitute a waiv~er ot or oonsent to sub~equent defaults. No tailure ot Mortaagee to e:enise an,Y optioa berein sivea to ac~elerate maturity of tbe dsbt berebY secured, no torbearanoe 63? Mottgasee betora or after t6e ~enti~s of wch optioa and no wdthdrawal or abeAdonment of foreclosure Proceedia6 bp Mortgaaee sl~all be taken or con- strued a~ a waiver d ib ~6t to ~erci~e aich option or to socelerate t6e maturity of the deb! hereby ~ecured by reasun of any pe~t, present or tnture detault on tbe part of Morf~or; aad, in like manner, the procurement of insurance or 4he pay- ment of ta:es or o~er lisns or charae~ by Mortaaaee ahall ~wt be takea or construed as a waiver ot ita riaht to accelerate tl~s matusity of tbe debt hereby ~ecured. . 17. WitLout attectinE il~e liability of Mo~or or eW? other peison (e=eept si?Y Person ~preesly released in writin6) tor peymen! oi anq indebtednea~ aecured hereby or tor petfozmanoe of any obliaation contained herein. and without aifert- ;ng t6s ri6hb of Mort~~ee vrith respect to anq aecarih? not ezPres~Y released in writin~. Mor~eBee maY. at any time and from time to time. either betore or stter tbe matnrity ot said note. snd with~t notice or consent: (s) Release aRY Pe~ for payment ot all or any pert of t6s indebtedness or for per[ora~anoe of any obliBation. (b) Make any esc~eement e~etsdina the time or otberwise alterioa the terms oE paymeat of all or any Pad ot the indebtednes, or modifyina. or waivina anY obliaation. or wbordinatina, modi[yin6 or otherwise dealin8 witL the lien or cbarse hereof. (c) F.ierci~e or r~rain trwm ~ercisins or waive any *isht MortgAsee may have. ' (d) Accapt additioaal security of any kind. - (e) Reloass or other~rise deal with anY P~PettS?. real or psnonsl. ~ecur~n~ !6e indebtedne~s. includins all or any part ot tl~e Modp~ed Praperty. . " - 18. Any agreement 6ersaEter made by Mortgago: and Mort~asee pusuant to this mortaa8e sball be euperior to the riabt~ ot the 6older ot any intervenina lien ot encambeance. I ~ 19. MoitBagor Lereby waives all riaht ot homes~d eueauption, if any. in tbe Mort~ed Propedy. i _ j 2~. In the event of oondemnation prooeedin~ps oE the Mo~ed Propertp. tbe award or compemation peyaWe tbere- ~ under is hereby awiEned ta atd a6a11 be paid to Mortaaaee. Mortga~ce ahsll be under ao d~ligation to question the amount s oE any ~och award os oompemation and may aooept the same in tbe amoun! in whicb the ~ame shall be paid. In any wch condemnatan Prooeedings, Mortgegee may be rePreaented bq counsel ielected by Mortgaaee. T6e prooeeds of any award or campemaHon w rec~eiv~ed ehall, at t6e option a[ Mort~se, eiWes be applied to the Prep~ayment of tLe Note and at tbe rate of interest prmnded therein, re~erdleas of tve rate ot interest paYsble on tbe award bY the oon~iemnin8 sut6ority. or at the op~ion ot Mortas6ee. such awsrd shall be paid orrer to Mortgssor tor restoration ot t6e Mortgeged Property. 21. If Mortgaaee, pursusnt b a construction laen agreement or loaa oommitment made by Mortgagee with Mortgagor. sgrees to mnke oondtuction losn advanoea up to tba principal amount of tbe NotB, thea Mort;agor 6ereby covenanta that it will comply wnth all ot t6e terms, Pmvi~ions and eov~enanb of said oondmction loen agreemeat or losn rnmmitment, will ~ilisentty oonsttuct the improvemenb to he built putsuant b t6e terms thereot. all oE t6e terms thereof which are in- oorporated berein by reterence as tbang6 set torth tully 6erein ard will permit no defaolts to occur t6ereunder and if a de- tault ~hall oocvr t6ereander, it shall con~titute a defanlt under this Mortsage and the Note. 22. At t6e option of Mortaaaee~ Mottgagor shalf provide Mortgagee with pe:iodic oertified audited statemenb ot tl~e financisl oondition ot Mort~or. . 28. Mortaaaor,repre~ents aud warranb tbat if a corporation. it is duly orsanized ard validly ezisting..in good ste~- ina under the Iaws oE the state of ib inoorporation. has ~tock outslandin8 whicb bas been duly and validly iasued. and ia qualified to do basines and is in sood dandins in the State of Fiorida. with fnll paw+er and autboTih? to consumaiate tbe loan contempiated bereby: and, it a partnership. it b duly [ormed and validlq ezistina. and is fnlly qualified to do b~siness . ~ in t6e 8tate of Florida; with tnll pow~er and antlwrity to conwmmate the loan coatemplsted hereby. ~ 24. In tLe event any one or more ot tl~e provisions conteined in thi~ Mort~aae or in the Note ahall for any reason - ~ be held to be invslid. illesal or anentoreeabie in any respect, such inveliditY. illesality or unentorceablitq ehall, at t6e ~ a~ption ot the Mottaasee. not aftect any other proviaioi» of tbis Mortgage. but this Mortgage sball be construed as if such invalid. illegal or uuen[orceable prvvision had never been contained herein or theeein. T6e total interest payable pursuant to tbe Nate or this Mortgaga ~hall rwt in eny one y~r ezceed the hialiest lswful rate ot intereat in the State of F7orida. 26. Tbe oowenanb and aareea~ents herein oontained e6a11 bind and tbe benefita and advantagea sl~all inure to the reapective 6eirs, ~ecvtors, adm[t?istratm'~. wcceawa. and aaian~ ot tbs perties herato. W6eeever wed, t6e eingular number ahaD inclnde t6e pinrel. t6e plural the sinsular. and tLe we of any gender a6aI1 be applicable to aU sendezs. All cov~ea~nts, ap~eemenb end undertsian~s ~hell be loint and ~everal. In tbe ev~ent edditional nwnbered covenent~ or para- araPb~ ere fot coav~enienca in~erted in this Mort~e. wcb additional covenanb shall be reed and aiven effect es tho~h tolloa?inE th» oavenant in coa~ecutiv~e ordet. . -3- . . ~274 n~ ?95 ~ - .