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Home My WebLink About0434 • • _ ap{?ly surh rents, iasues ai?d pt~otib receive~ by it oe the indebtedner aecund heroby in wch arder as Mortaagee deter aunes. Ttee ri~ht to entes and take poaession of tlie Mortga~d PmpeMy. to m~t~e~s and operate the aame, a~d to collect tlie renb. i~ aad profits thereol. whetber bj? a receiver o~ othstwi~s. ~Aall be nunulative to any othe~ riaht o~ ~rmedy ~ heeeundes or ot[o w. an¢ ~,e:e~ri~ed concurre~tly therowith o~ i~peadenNy thereot. Mortgagee shall ~ be IiaWe to actiwuat~o~such ren~,i~t~ and pmtib actuallY received by MortBa[ee- 14. It tbs indebtedneas iecured heteby is now os herestte~ tuNher iecured by chattel m~rlaages~ security intsresls, ~ fina~cins statetnen!~, pled~es, rn~tracta ot guaranty. aesianments of leases. or othe: securities, or i[ the Mortgaged Pro- perty hereby encumbered consis4 ot awre thai~ one parcel ot real property, Mortgaaee may at it~ optioa ~lwust any one or awre of ~ securitiee and ~ecurity he~ :~der. or such petcels o[ the uecudty hec~eunder. either concurrantly or inde- peadent(y. in auch order aa it may determine. 15. 'ILis Morlgage ahall eecnre not oalp e:isting indebtednees. but also such tuture advanem. whether such adrances E are obliaatory or to be mado at the aptica o! Mortaagee, or Mherwise. as are made within twenty (20) ye~rs fcom the date j heraot. to tbe same eutent as it such tuture advnrn~ea were made on the date ot the execution ot this Mortgage. Met such a~ecured indebtedneas eihaU aot_ e:ceed at any time the wazimuon pri~?cipal aawunt ot i plus iAteKSt, and any disbureements made [or the payme~t of tc?:ea, kti:ea, o~ insurance, on the Mortgaged Propesty. with inteeest on such disbursemeats. AAy r,~ch (uture advances, whPther obligatory or to be snade at the option ot the M~urtgagee, or atherwis~ may be made either prior to or atter the due date of the Note or any other notes secund by this Mortgage. '1'bis Mortgage is given tor the speri[ic {wrpoee ~i securina any and all indebtedness by the Mortgegor to Mortgagee (but in no event shaU the aecvred indebtedness e:c~eod at any time the mauimum p~rineip~ amoonl aet torth in this peragraph) in wl~tever manner this indebtedr~eas may be evidenred or repieeented, until this Modgage is satisfied ot record. All coven- anta und agreements contained ia this Mort~e slwll be applicable to all further adva~ces made by Mortgagee to Mortgagor under this tuture advance clause. 16. No dela~y by Mortgagee in e:ercisina any right or remedy hereunder. or otherwiee a[torded by iaw. ahull operate as a waiver thereof or preclude the exercise thereaf during the continuanee of any defaeilt hereunder. No vysiver by ' Morigagee ot any detault si~all constitute a waiver of or rnnsent to au6sequent detaults. No failure ot Mortgagee to exercise ' any option herein ai~~en to accelerate maturity of the debt hereby eecured, no tor6e~rance by Mortgagee betore or s[ter the e:ercise of such option an3 no withdrawal or a6andonment of (o~eclosure proceeding by Mortgagee ahall be taken or con- strued aa a waiver of its ri66t to e:erciae such option or to accelerate the maturity of the debt hereby secured by reason ot , any past. present or future detault on the p~rt ot Morigagor: and, in like tnanner~ the procurement of insurance or the pay- ment oi tauea or other liena or charges by Mortgagee slwll not be laken or construed as a waiver ot its right to nccelerate ' the maturity of the debt hereby recured. - ; _ 17. Without atfectin6 the liability of Mortgagor or any other person (except any person expressly released in writing) for payment of any indebtedneas secured hereby or for performance of any abligation contained herein. and without atfect- _ iag the righta of Mortgagee wiW respect to any security not ezpreasly neleased in wziting. Morigagee may, at any time ~nd from titae to time. either betore or atter the maturity of said note, and without notice or con~ent: , (a) Rele~se sny penon liable for payment ot al! or any pert o~tbe i~ldebtedt+ead or#dY petidta~noe~ot any obligation. .r • (b) Make any agreement exteriding tl~e time or otherwise alYri~. t~,ter¢~~ ot payment of all or any part of the ` indebtedness. or modifying or waiving any obligation~ or aubordinatina, moditying or otherwiae dealing with the lien or - cbarge aereoL (c) E:ercise or ~eirAin fram e:errising or w~ive uny right Mortgagee may have. (d) Accept additionai eecarity of any kind. (e) Reiease or ot6eiwiae deat with any proper[y, real or persanat. securing the irrdebtedne~, including all or any part of tbe btortga66ed Property. - 18. Any agreement 6ereafter made by Mortgagor nnd Mortgagee pnrsaant to this morlgage shall be superior to the rights of tbe hoWer of any intervenin6 lien or encumbrance. 19. Mortgagor heteby_ waives ali right of homeatead e:emption, if any, in the Mortgaged Property. 20. In the event o[ condemnation proceedinga of tbe 2rfortgag~.+d P~operty; the award or compensation payable there- under is hereby aasigned to and shai! be paid to Mortgaaee. Morigagee ahall be under no obligation to question the amount of any such awatrl or compensatioa and may accept the eame in the amount in which the aame ahall be ps~id. In any such condemnatioa proa~edings, Mortgagee- may be repre~ented 1ry counael selected by Mortgagee. The pmceeds of aay award or rnmpensation so received ahali, at the option of Mortgagee, either be applied to the prepayment ot the Note and at the rate of interest provided therein, regardless of the rate o( intereat payable on the award by the condemning authQrity, or at the option of Mortgagee, such award shall be paid over to Mortgagor tor restoration ot the Mortgaged Property. 21. If Mortgagee, pursuant to a construction loan agreement or laan coa?mitment made by Mortgagee witfi Mort~or. agrees to make rnnstntction loan advances up to the principal amount of the Note, then Mortgagor hereby cover.ants that it will comply with all ot the terma, provisions and covenants oi said co~ctinn•loas agreemeat or ioan oommitri~ent, will diligently construct the improvements to be built pa~auant to the terms ther~of~ aU of the terma thereof which arE in- corporated herein by reference as tbough set forth fally herein and will permit no defaulta to occur thereunder ~nd if a de- - fault shall occur thereunder. it aha~l rnnstitute a detault under this Mortgage and the Note. i~,;,,. . 22 At the option ot Mortgagee~ Modgegor ahall provide Mortgagee with periodic certiiied audited statemert,s of the firwncial condition of Mortgagor. 23_ Mortgagor repreaenta and warrants tbat it a corporation~ it is duly organized and validly eYiating, in good atand- ing under the laws oi tbe atate of its incorporation, nas stock outstanding which has been duly and validly issued, an.1 is - qualiCed to do business and is in goo~ standing in the 3tate of F7orida. with full power and authority to co~ummate the - foan rnntemplated hereby: and, if a partnetship, it is duly tormeu' and validly eaiating~ and is [ully qualified to do Misines~ in the State of Florida; with tull power and authority to rnnaummate the loan cantemplated hereby. - 24. In tbe event any one or more ot tbe provisions contained in t6is Mortgage or in We Note ahall for any reaeon be held to be im~alid, illegal or unenforc~eable in any reape~K, such invalidity, illegality or nnen(orceablity ahalt, at the option of the Mortgagee, not a(fect any other pmvisio~ ot thia Mortgage, but thia Mortgage shall be conatmed as if such invalid, iliegal or unenfomeable provisiun had never been rnntained herein or therein. T'6e total interest payable pu~ant to the Note or this Mortgage ahali not in any one year e:ceed tbe higheat lawiul rate of interest in the State of Florida_ 25. Tbe rnvenants and agreementa berein rnntained shall bind and the beae(ite and advantagea ahall inure to the respective hei~s. eYecutora, adminiatratora, aucceaeors. and asBi6ns of the partiea hereto. Wherecer aeed, t6e aingular nuatber shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders_ Al! covenants~ agreemeats and undertalrings ehall be joint a.nd eeveraL In tbe event additional numbered rnvenanta or para- graphs ane tor convenience inserfed in thia Mortqage, sucl~ additional covenants ahall be eead and given eifect aa t6ough following thie covenant ir. consecutive order. - F _3- aoox 27~ Pac~ ~4 ~ _ _ .u__._ ~ - - _