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Home My WebLink About0528 • J +r ~ . . F ` f- ~ .w! a~~ply eu~•h rnnta, iesww and protita receivecl by it on ihe indohtednees aecurrd hereby in such ordet ns Morig:~xee Jeter- , minea. The risht to e~ter xnd take ~,ogsc~asion ot the Mortgagecl Property, to munuge and operate the same, and to collect the renta, iswe~ and protib tliAnwt, whether by a receiver or otherwise, shell be cumulative to any other riaht or remedy hereunder or at(orded by law. and may be ezenised cuncurrently therewith or indepe~denUy thereof, Mortgagee ahaU he liubla to account only for such renta, issues and pmtits actually received by Mortgugee. 14. It the iadebtednes~ eecured hereby ia now or hereafler turther secured by chnttel murigxgea, security interests. finAncing stntementa, pledges, contracts of guaranty, aasignmenls ot leasee, or other iecurities, or it the Mortqaged Prn- {?eHy heceby encumbet+ed conaists ot more tba~ one~pan~el of real property, Mottgagee may at its option exhaust any one or more ot aaid securities and eecurity hereunde~, or such parcela ot the security hereunder, either conrurrenUy or inde- pendently. and in such order as it may determine. 15. Thia Mortgage s1w11 secur+e not only e:isting indebtedneas, but also such tuturr udvancex, whether such z~dvances are obligatory or to be mude at the option ot Mortgagee, or otherwise, aa are made within twenty (20) yea~s from the dAte hereof, to the same e:tent s~a it such (uture advances were made on the date of the execulion of thia Mortgage, but auch _ secured indebtedness shull not e:cec~ at any time the maYimum principal nmount ot = ploa interest, and any diabursements made tor the payment o( taxes, levies, or insurunce, on the Mortgaged Property, with intereat on such diabureements. Any such tuture advances, whether obligatory or to be made at the option o( the Mortgugee, or otherwise, may be made either prior to or atter the due date of the Note or any otl~er notes secured by thia Mortgage. 'I'his Mortgage is give~ for the apecitic purpoee ot securing any and ull indebtedness by the Mortg~gor to INortgagee (but in no event ahall the s+ecured indebtedneas exceed at i~ny time the ma:imum principal amount set torth in this parAgroph) in whatever manner thie indebtednesa may be evidenced or rcprrsented, until this Morigage is s~+tiatied of record. All coven- anta and ugreemenG contained in this Mortgage ahail be applicable to aU (urther advancea made by Mortgagee to Mortgagor under this tuture advance clauee. ~ _ 16_ No delay by Mortgagee in exereiaing ~ny right or remedy hereunder, or otherwiae af(orded by law. shnll operate as a waiver t6ereof or preclude the e:ercise thereot during the conti~uance ot any default hereunder. No waiver by Mortgagee of any de(ault shall constitute a waiver of or consent to subaequent defaulta. No failure of Mortgagee to ezerciae any option herein given to accelerate maturity of the debt hernby aecured, no (orbearance by Mortgagee hefore or atter the ezemi9e of such option and no withdrawal or abandonment of forecloaure proceeding by Mortgagee shall be taken or ron-- atrued aa a waiver ot ita right to exerciee suc6 option or to accelerate the maturity of the debt hereby secured by reASOn of any past, prnsent or futurn detault on the part of Mortgngor; and, in like manner, t6e procurement of insurance or the pay- ment oi ta:ee o~ other liena or c6arges by Mortgagee shnll nol he tuken or construed us A v?aiver of iis right to nn~elerate the maturi!y of the debt hereby aecured. 17. Without attecting the liability o( Morigagor or any other person (e:cept any person expressly released in writing) (or payment ot any indebtedness secured hemfiy or for performance of any obligAtion contained herein, nnd without aftect- ing the rights of Mortgagee with reapect to any eecurity not e:p?~essly released in writing, Mortgagee may, at any time and from time to time. either hefore or after the maturity of said note, and without notice or consent: (a) Release any peraon liable for payment of all or any part oi the indebtedness or for performance of any obligation. - (b) Make any Agreement eztending the time or otherwiae altering the terms of payment of all or any part ot the indebtednesa, or modifying or waiving any obligation, or suhotdinating, modi(ying or otherwiae dealing with the lien or charge hereot._ (c) E:ereiee or retrain from exerrising or waive any right Mortgagee may havc_ . (d) Accept additional security ot any kind. (e) Release or otherwise denl with any ~~roperty, rea) or pereonal, securing the indebtednesa, including all or any part of the Mortgaged Property. 18. Any agreement hereatter made by Morigagor and Mortg~gee putauant to this morigage shall he superior to the righta o[ the holder ot any intervening lien or encumbrance. . 19. Mortgagor hereby waives all right of homestead e:emption, if any, in ihe Mortgaged Property. 20. In the event of condemnation proceedings of the Mortgaged Property, the award or compensation payable there- ~ under is hereby asaigned to and ahall be paid to Mortgagee. Mortgagee shall be under no obligation to question the amount E of any such award or compensation and tnay accept the same in the amount in which the same shall be paid. In any such- ` condemnation proceedings, Mortgagee may be represented by counsel selected by 111ortgagee. The proceeds of any award f or compensation so received ahall, at the option o( Mortgagee, either be applied to the prepayment of the Note and at the rate of interest provided therein, regardtess of the rate ot interest payable on the award by the condemning authority, or at the option of Mortgagee, spch award shall be paid over to Mortgagor for reatoration ot the hfortgaged Property. 21. I( Mortgagee, pursuant to a construction loan agreement or loan commitment made by Mortgagee with Mortgagor, agrees to make construction loan advances up to the principa) amount ot the Note, then Mortgagor hereby covenants that it will comply with all of the terms, pmvisions and covenanla o[ sei~ co~~s{tstction loan agreement or loen commitment, will diligently conatruct the improvements to be built pursuant to the terms thereof, all of the terme thereof which am in- - cor~wrated herein by rnference as t6ough set forth (ully herein and will permit no defaults to occvr thereunder and if a de- fault shall occur thereunder, it shalt constitute a de(ault under this Mortgage and the Note. 22. At t6e option ot Mortgagee, Mortgagor shntl provide 1liortgagee with periodic certified audited statementa of lhe financial condition of Mortgagor. e - 23. Mortgagor represents and warrants that it a corporation, it is duly organized and validly existing, in good stand- ing under the laws of the state ot itn incorporation, has stock outstanding which has been duly and validly issued, and ia qualified to do businesa and ia in good standing in the State of Florida, with tull power and authority to consummate the ~ loan contemplated hereby; and, if a partnership, it is duly tormed and validly eziating, and ia (ully qualified to do business ` in the State of Florida: with tull power and authority to consummate the loan contemplated hereby. ~ ~ 24. In the event any one or more of the pmvisiona contained in this Mortgage or in the Note. ahall tor any reason ~ be held to be invalid, illegel or unen(orceable in any reapect, such invalidity, illegality or unenforceablity shall, at the ~ option of t6e Mortgagee, not a(fect any other provi3ions of thia Mortgage, but thia Mortgage shall be constnied as if such ~ invalid, illegal or unen(orceable proviaion had never been contained herein or therein. T6e total interest payable pursuant ~ lo the Note or this Mortga~e ahall not in any one year e:ceed the highest lawful rate o( interest in the State o( Florida. ~ 25. The covenants and agreementa herein contained shall bind and the bene(its and advantagea shall inure to the ~ res~~ecti~~e hei~a, executors, administratora, successors, and aseigns of the parties hereto. Wherever uaed, the aingular number shall include the plural, the plurat the singular, and the uae ot any gender aball be applicable to all gendera. All covenants, agteements and undertakinga shall be joint and several. In the event additional numbered covenanta or para- graphe are for convenience inserted in thia Mortgage, such addifional covenanta shall be read and given effect as though ~ follbwing thia covenant in consecutive order. ~ ~ -3- ~ ~oo~ z~s ~