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Home My WebLink About0373 , ~ . ~ ~ a~ly such re~ts. iffiuc+s and peotit~ receive~ bp it on the indebtedneas ~ecvred hereb~r in such ortfer at Mort~a~ee cie~er- minua. The right.to,e~rie= +~d tAke ~n ot the Morlga~ecl Property. to mana~e and operate lhe ~ame, and to rnllect the renta. iaaes aad pwj't~, thereot. r by a eeceivee os oi6er~vi~e. ahall be cumulative to u~? other risbt or remedy bereunder or attorded by la~i. and myy be e:ercisod rnncurrently therewith or indePet~dently ihereot. Mott6ajee shall be liable to Accaunt only tor such rents. iseues and protib aMually received by Mortaasee. 14. If tt~e indebtedr~as secured hereby is now or her~tler [urther secured by chattel raortsases. security interests. tinancing sta~oentar pledaes, contracta of ~uuranty. asaig~~ts of laaaes, or other secu~ties. or it the Mortga~ed Pro- perty hereby encumbered consisb ot more /han one punel ot rea! property, Mortgagee may at ib option exhaust aay ooe or more ot said securities and eecurity hereunder, or auch parcels of the security hereunde~. either concurrenlly or inde- pendently. aad in sucb order as it may determine. . 15. Tlris Mortgage stiaU s~re iwt only e:istin6 indebtedness. but also such tuiure advances, wl~ether such advancea ace obligatory or to be madc at the optton ot Mortgaaee. or otherwise, as are made wiWin tvrenty (20) ye~~s from the date hereof, to the eame e:tent as it auch future advancea were mnde oa the date oi the e:ecution ot thisN~~ortgase, but such aecured indebtednees shall not e:ceed at a~y time tt~e mauimum principal amount ot i ~ plus intprest, and any diebursemrenb mede tor the payment ot ta:es. levies, or insurance, on the Mortgaaod Properiy, with interest on such disbu~sements. Aay such (uture advaneea. whetber obligatory or to be mede at the option ot the Mortaagee. ~ or otherwise. may be made cither prior to oc aiter the due date ot the Note or any other notes secured by tbis Mortgage. Tl~is Mortgage is 6iven tor the apeci[ic purpnee ot securing any and aU indebtedr?eas by tho Mortgagor to Mort~ee (but in no evr.nt n6ail the secured indebtedneae excee+~i at any time the auuimum principal amount set todb in this psrasreph) in w~hatever wanner this indebtedneas may be evidenced or represented, until this Mortgege is s~tistied ot record. AU coven- 8R~ blld 8$~il1@A~8 rnntained in this Mortgc~ge shaU be a~liceble to ali furtl~er advances made by Mortga6ee to Mortgagor under thia [uture advance clause. 16. No delay by Mortgagee in e:ercising any right or remedy 6ereunder. or otherwise at[onied by law. ahall operate as a waiver t~ereof or preclude the e:ercise thereof durina tl~e rnntinuance ot any default hereunder. No waiver by Arlortgagee of any default sball constitute a waiver of or rnnsent to su6aequent defaulta. No (ailure o[ Modgagee to e:errise any option herein siven to aecelerate maturity of the debt hereby secured. no forb~erance by Modaagee betore or a(ter the e:ereise o[ auch option and no vrithdrawal or abendonment of [oreclosure procfedina by Mod6agee ahall be taken or rnn- strued es a waiver of its ri6ht to e:erciee such option or to aecelerate the maturity of the deb: t~ereby secured by reason af . any paat, preaent or future default on the part o[ Mortgagor; and. in like manner~ the procurement oi i~surance or the pay- ment of taxes ur other liens or charges by Mortgagee ahall not be taken or construed as a waiver ot its right t~ nccelerete the maturity ot t6e debt hereby aecured. - . . . . 17. Without sifecting the liability of Mortgagor or any oth~r'person (e:cept any r,erson e:prESaly released in writing) tor payment ot any indebtedneq~ secured Lereby or for performance oi any obligation contaiaed l~erein, and without affect- ing the riahts of Mortgagee wit~'reapeat to ~ny ~sec~t~r t e:preasly relen~ed in writing, Mortgagee may, at any time and n irom time to time. eiU?er befoce or after the matun'~i id note, aod without notice or conaent: (a) Releaae any peraon liable for payment ot all or any part of the indebtedne~s or to~ performanee ot any obligation. (b) Make any a6reement ~t~ling Wia or ot6erwise altering the terms of payment ot all o~ any part ot the indebtednesa. or moditying or wAivutd ~day ~tion, .or subordinatin& modifying or otherwiae dealing with the lien or - charge hereof. . (c) E:erciae or refrain lrom e:ercising or waive any right Mortgagee may have. ~ (d) Accept additional security of any kind. ~ (e) Releaee or otherwise deal with any pmperty. real or pe~sonal, eecuring the indebtedness, i~ludina all or any part o[ the Mortgaged Property. 18.~ Any agreement bereafter made by Morigagor and Mortgagee pursuani to t6is mortgage al~all be superior to the rights ot the holder ot any intervening 4en or encumhrance. ! 19. Mortsaaor hereby waivea all right of homeatead e:emption, if any, in the Mortgaged Property. r ~0. 1n the event of rnndemnation proceerlings of the Mortgaged Property, the award or compeasation payable tbere- f under is hereby sesigned to and shall be paid to Mottgagee. Mortgagce s6a11 be under no obligation to questiQr. the amount E ot any such-award or rnmpensation and may accept the same in the amount in which the same shall be paid In any such condemnation procee.u,~ga, Mortgagee may be represented by counsel selected by Mortgagee. The pr~oceeds of any award ~ or compa~ation ao received shall, at the option of Mortgagee, either be applied to the prepeyr~ent of the Note and at the rate of interesk provided therein, regardless of the rate of interest payable an the award by the condemning authority, or at the option of Mortgagee, such award shall be paid over to Mortgagor tor restortion o[ the Mortgaged Property. 21. If Mortgagee, pursuant to a construction loan agreement or ]oan commitment made by Mortgagee with Mortgagor, agreea to make construction lcan advances up to the principal amount of the Note, then Modgagor hereby covenants that it will comply with all of the terma, provisions and rnvenants o( said construction loan agreement or loan commitment. will diligently construct the improvementa to be built purs~ant to the terma thereof. all of the terms thereof which are in- corporated hernin by reference aa though set [orth fully herein and will permit no de(aulta to occur thereunder and it a de- fault shali occur thereunder, it alsall constitute a default under this Mortgage and the Note. 22. At t6e option of Mortgagee, Mortgagor st~all provide Mortgagee withperiodic ceriitied audited statementa of the financial condition ot Mortgagor. 23. Mortgagor representa and warrants :hr t if a rnr~wration. ~e ~s awy o~,~;~a a~ .~~a~r e:~c~~a. in good atand- ing under the Isws of the atate of its incorporation, has stock ou`standing wt~ich haa been d~ly and validly iss~tad, and i$ qualified to 0o busine~ and ie in good stas~ding in the State of Florida, with tull power and authority to consummate the loan contemplated bereby; a.~d, if a partneishio, it ia duly (ormed and validly e:isting, and ia fully qoalified to do bueines~ ~ in *!~e State ot Florida: with full power and authosity to consummate the ioan contemplated hereby. ~ 24_ In the event any one or more ot the provisions eontained in this Mortgage or in the Note shall for any reason be held to be invalid, illegal or unenforceaMe in any reapect, such invalidity, illegality or uneniorceablity shaU, at the option of the Mortgagee, not aftect any other provisions of thia Mortgage, but ihia Mortgage ahall be construed as it such invalid, illegal or unenforceable provision had never been contained hErein or t6erein. The total interest p~yahle puesuant to tne Note or thia Modgage ahall not in any one year e:cecd the higheat lawtul rate of .interest in the State of Florida. 25. The rnveoant,~ and agreements 6erein contained shali bind aad the bene(its and advantages shall inure to the respective heirs. ezecutors. . administrators, sacceaeois. and assigns of t6e parties hereto. Wherever used, the singular number sball include the plural. the plural tbe singular, and the use of any gender shall be applicable to ali genders. All covenants, agreements end undertalrings s4iall be joint and eeveral. In the event additional numbered covenanta or pera- graphs are for convenience inserted in tbia Mortgage. such additional covenaAfa shall be read ~nd aiven ef(ect xs t6ough following thia rnvenant in consecative order. a~c~~ ~ .