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Home My WebLink About0569 ~ ..x n~ly such rents, i~weR and proti4 [eceived by it on the i~ebtedRe~s ~ecuceo hereby in such order as Mu~tgagee deter- a?iaes. Tbe riaht to sAte~ and take tw~e~aion. ot the I?lortsa~l FcoPeiRY. to manare and oparate tbs aame. and to collect 1he reab, is~ra and pto(' ~?ateo(~ wMt~r a receiver or othsrwus. shall be cumulatiw to auY other ri~ht or reu~edy liereuade~ or attorded b!?~.a~d mny 1~ ~~rciaed concurrentl,y tberewith or i~dependenUy thereol. Mort`agee shall bs tiaWe to +~crouat or?ly tor such rents, iasue~ aad protib aMually received by Mostaaaee. 14. Il ths iadebtedne~s secured hereby is aow or heraatcer h~cther .ecueed by cbauel moriaases, secur;~y ;nceres~s. tinancins statemenb, pledgas~ contracts of suaranty, s~ia~ments o[ leasea. ~r other securitie~. or it 1he Most~saed Pro- perty hereby encumbered•consists of aare tban oi?~ parcel of real prope~ty. Mortsagee may at i4 optiaa esbaurt aay one or mars ot said ~ecurities at~d aecusity hereur?der. or auc6 parreL ot tlis secuiity 6ereunder. eithsr coacurrenUy or inde- 1~endeAllv. and in au~ order a~ it may deternuae. - IS. 1Lis Morlgaae ahal! secure not only ezistina indebtodness, but atso such tuture advances. whether such advances are obligatory or to be mede at t~ option of Mod~ee. or other~rise, as are made within twenty (2D) years trom the date hereof. to t6e same e:leat as it such future advances were made on tl~e date of the e:ecution of this Mott6age~ but sucl~ secure~! indebtedneas ahall not eaceed at any time tbe maximum principal amou~t of t N/~ Ptua interest, and artY diabuisemeAta made tor the p~yment oi tases„ levies, or inairance, on tbe Mortgaged Property. with iaterest on such disbursemenb, pny sucb fnture advances. whether obliEatory or to be made at the option ot the Mortgegee. ur othetvi?ise. taay be made either prior to or atter the due date of tLe Note or any otlr+r aotes secured by this Mortgage. This Mo~s6e is siven [or t6e specitic puqwse oE ~ecuri~ any sad all indebtednees by tbe Mortaagor to Mortgagee {~t in no evr.nt sball the secured indebiedneas e:ceed at any time t6e a~imum principal amount set forth in this paraarapb) in whatever manner this indebtedneee anay be evidenced or represented. until thia Mortguge is satiafied ot tecord. AU coven- ants utd aareements contained in ihis Mortgage ahall be applicable to ap further advances made by Mortgagee to Mortgagor under this tuture advanoe clause. 16. No delay by Mortgagee in eYercisin~ any right or remedy heceuader. or atherwise altorded by )aw~ ebap operate es a wairer thereot or prectude tbe e~cerrise tliereo~f during the continuance o[ any default hereunder. No waiv~er by Mortga6ee of any de(sult s6a11 constitute a waiv~er of or rnnsent to subsequent detaulta. No tailure of Mortgagee to e:ercise any option herein given to acoelerate maturity oE t6e debt hereby ~ecuted. no [orbearance by Mortgagee belore os a[ter the ezenise o( suc6 option aad no withdtawal or ahsndonment ot toreclosure proceeding by Mort~ee sl~all be taken or con- strued as a waiver o[ ib ri~ht to esercise such option or M aocelerate tbe maturity of the c~ebt hereby secured by reason of any p~st, preseat or future de[ault on the part oi Mortgagor: and, in like manne~, the procarement of insurance or the pay- ment o[ taues or other liens or charsea by Mortgagee s6all not be taken or constneed as a waiver of its right to accelerate t6e maturity ot the debt hereby eecured. 17. Wit6out atfecting the liability ot Mortgagor or sny ot6er person (except any pereon e~preasiy releaeed in writing) for payment o[ any indebtedness secured 6erebg; ar for pedormanee ot any obligation rnntained herein. and without atfect- in8 the ris!?ta of Mortgagee witl~ res~ect to any security not ezpreaely ~eleased in writina. Morigaaee may, at any time and fram time to time. either betore or after the maturity of said note. aed withoat notice or conseat: (a) Release any person liaWe for paywent of all or any part ot t6e indebtedneas or for performaace oi any obligation. (b) Ma~e aay agreement e:tending tbe time or otberwise alterina t6e terms of payment ot all or any pert ot the ~ndebtedneas. or moditying or waiviag any obligation~ or subordinrit:r?~ modifying or otherwise dealing with the lien or charge hereof. (c) Baercise or refrain from exercieing or waive any right Mortga6ee a4ay have. fd) Accept additional security of any kind. (e) Release or otherwise deal wiW anY P~nY. real or peraoaal. secvting t6e indebtedneas„ induding all or any part ot the Mortga6ed Property. 18. Any agreement hereafter made by Mort~agor and Mortaasee putsuant to this mortga~e shall be superior to the rights of the hoWer oE any intervening lien or encumbrance. 19. Mortgagor hereby waives al~ tight ot homeatead e:emption, if any, in the Mortgaged Property. 20. In the event of rnndemnation prooeedinga of tbe :~lortgaged Property, the award or compeasation payable there- u.~der ia herebY assiBned tu and a6all be paid to Mortgagee. Mortgagee ahall be under no obligation to queation the amount oi any aauh award or compensation and may accept tbe same in the amount in whic6 the eame shall be paid. In any such _ condemnation prooeedings, Mortgagee u~aY be represented hy counsel selected by Mortgagee_ T6e proceeda of any award or compeneation so received shall, at tbe optioa of Mortgagee, either ~ appGed to tbe prepayment of the Note and at the rate of intereat pmvided therein, regardlese ot the rate of intereat payable on ihe awsrd by the condemning suthority, or at the option of Mortgagee, suc6 award ahall be paid over to Mortgagor for r~stor~tion o~ the Mortgaged Pro~~erty. 21. If Mortgagee. puiauant to a constmction loan agreement or loan commitment'~mad~by M~rlge~e~ wit6 Mortgagor, aercea to make conatrnetion loan advances up to the principal amount of the Note. then Mortga~r hereby rnvenants that it witi rnmpiy with a11 of the tern~s, proviaions and covenants ot said construction laan agreement or losn commitment, wiU diligently co~tn~ct the improvementa to be built pursuant to the terms thereof, al! oE the tesma theteof which ate in- rnrporatea herein by referenre as t6ough set fotth fully herein and will permit n4~~ults t~ ocip~r t4eteunder and it a de- tault ahaU ocnir then~unaer, it sball rnnstitute a defauit nnder this Mortaaae and t1~ No~e. 22. At the optioa ot Mortgagee, Mortgagor ehall pro~~de Mortgagee with periodic certitied sudited at~te~operits=ot tbe financiat condition of Mortgagor. . 23. Mortgagor represents aud warrants that if a corpoiation. it is duly organined and vatidly e:isting, in good atand- ing under the lews oi the etate ot its incorporation. has stock outstanding wh_icb haa been duly and vulidly issued, and ia 4ualified to do businese ar.d is in good sfandinE in the State ot Florida. with full power and authority to cons~mroate the laan contemplated hereby: and~ if a partneeahip, it is duly formed and validlq e:isting, and ie fully qualiGed to do buainess in the State of Florida; with full power aad suthority io coneummate the io~n rnntemplated 6ereby. _ 7A. In t6e event any one or more of the provisions contained in this Mortgage or in t6e Note a6,a1! for any reaeon be 6eld to be invalid. illegai or unenforce~We in any nea~ect, such iavalidity, illegality or unenlon~eaWity s6a11, at the option of the Mortgagee, not a(tect amr otber provisions ot this Aiortgage, but thia Mortgage ehall be ounstrued as it such invalid. illegal or unenforceable praviaion had ni.wer been contained herein or t6erein. T6e totai intereat payable pursuant to the Note or thie Mortgage s6all not ia any one year e:oeed the higheat lawful rate of interest in tht State ot Florida. 25. The cavenanta and agreementa 6erein rnntained ehall bind and tbe benefits and advantagea sball inure to tbe respeMive hei~s, e:ecvtora, administratots, sua.~eaeors. and assig~ ot the pnrties 6ereto. Wlfenwer used, the singular aumbet sLali include the plural, the plural tbe singular, and the use of any gender a6ail be applicable to ail genders. All rnvenants, a8reements and undertalnngs shall be joint and sererai. In t6e event additional numbe~ed covenanta or para- srapbs are tor rnnvenience inserted in this Mottga6e, such additional eovenanb shall be .esd and siven eifect as t6ough (ollowina this eov~enant in cvr~secvtive order. r ~3. ~ x PACE 5~9 . BOOK -