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Home My WebLink About0381 , . :~pply such renta, issure i?nd pro(its received by il on the indebtedneas eecuhd hareby ip ~uc4 ordw as (~lortg+~Kee detcr- minea. The right to enter and Wke poesraaion of the I11o~lgi~ed Pco~~rrty. lo mat~e und opetatw tl}e s?~me, u~d to coUcY•t the rents, iasues and protib thereof. whethe~ by e receiver or otherwi~e, ~hall be cvmulative to any other ~ght or remt~fy horeunder o~ u(forded by law, and may be e:enised concure~ently therewith or inde{~rndently thereot. htortgugce ahall ' be liable to account only [or auch re~fa, issuea t+nd profits uctunlly received by Mortgagee. , 14. i( the indabtedness aecured hereby is now or hereafler fur/her secueed by chattel mortguges, se~•urity inlerexts. tinanring stutementa, pledges, contracts ot guamnty, asaignmenta ot leasea, or other securilies, or if the ort~~ged Pro- peHy hereby encumbered consists ot more than one paerel of real pmperty~ Mortgagee muy at its optio~ e~aust any one or more o( said aecurities and security hereunder, or such parceb of lhe security hereunder, either concurrently or inde- pendently, and in such order as it may determine. 15_ This Mortgage ahull secure not only e:iatinR indebtedness. but also such tut~m advancea, whether such adva~cea are obligatory or to be made at the option ot Mortgagee, or btherwiae, as are made within twenty (20) years from the date ~ hereof, to the eame extent ns if such future ndvancea were made on the date ot the e:ecution ot this Modgnge, but auch f i secured indebtedness shall not e:ceed at aoy time the maximum principal amount ot = : plua interest, and any~disbureements tnade tor the pnyment ot ta:es, levies, or insuruni~e, on the Mortgaged Property, with ' interest on such diaburaementa. Any such (utuce advances, whether obligatory or to be made at the option of the I?loriguKee. } or otherwise, may be mede either prior to or aiter the due clate of the Note or any other notes secured by thia Mortgage. ? This Mortgage is given tor lhe specific purpoae of aecuring any and ail indeblednesa by the Morfgegor to Mortgagee (but in no event s6a1) the secured indebtednesa exceed at any time the mnximum principal amount set forth in this {~aragraph) in 2 whatever roanner this indebtednees may be eviden~~ed or represented, until this Mortgage is satiatied ot record. All coven- unts and agreementa contained in thia Mortgage shall be appliruble to uU turther advunces mnde hy Mortg:~Kee to Mortgugor under thie iuture advance clauee. ' 16. No d~lay by Mortgagee in e:ercieing any right or cemedy hereuoder, or otherwise a(torded by law, s6a11 operute as a waiver the[eof or preclude the e:erciae thereof during the continuance ot any detault hereunder. No waiver hy tliortgagee ot any de[ault shall rnnstitute a waiver oE or consent to subsequent defaults. No failure of Mortgagee to exemise any option herein gi~•en to accelerate maturity ot the debt hereby eecured, no torbearance by Morigagee betore or atter the e:emise of such option and no withdrawal or abandonment ot toreclosure pra~eeding by Mortgagee shall be taken or con- strued as a waiver of ita tiBht to e:emise such option or to accelerate the maturity of the debl hereby sec~ured by reason o( s any past, present or tuture defauit on the part o( 1Nortgagor: and, in like manner, the ~~rocurement of insurance or the ~x~y- ment of laxes or other liens or charges by I~fortgagee shall not he taken or construed as a w~iver ot its right to ai•irler.~te the maturity of the debt hereby secured. 17. Without aftecting the liability of Mortgagor or any other person (e:cept any person expressly rnleased in writing) tor {myment of any indebtedness ~ecured hereby or for performance of any obligation contained herein, and without attect- ing the tights o( Mortgagee with respect to any security not e:pressly released in writing, 1Nortg~gee may, s~t nny time and ! from time to time, either before or after the maturity of said note, nnd without notice or consent: (a) Release any person liable for payment ot ull or any parl o( the in~btedness or for performance of any obligation. : ' L - (b) Make any agreement e:tending the time or othemise altering the` terma of payment o[ all'or any ,part of the indebtedness, or modifying or waiving any obligation, or subordinating, rribdi(ying or othetwise dealing with the lien or charge hereof_ . (c) E:ercise or refrain trom ezerrising or waive any right Mortgagee may ha~'e- f (dl Accept additional ~~urity of any kind. - I (e) Release or otherwise deal with any property, real oc personal, securing the indebtednesg, including all or any ~k~rt a i o( the biortgaged Property. ~ ~ t ; 18. Any agreement hereatter made by Iltortgagor and Mortgagee pursuxnt to this mortg:+ge shall be superior to the L ~ rights ot the holder of any intervening lien or encumbrance. ' 19_ 1liortgagor hereby waives all right ot homestead e:emption, if ~ny, in the I?~ortgaged Property. ? ° 20_ In the event o[ condemnation' pra~eedings of the Mortgaged Property, the award or compensation payable there- ~ ~ under is hereby asaigned to and ahall be paid to Mortgagee. Morigagee ahall be under no obligation.to questaon the amount 3 ~ of any suc6 award or compensation and may accept the eame in the amount +n which the same shall be paid_ in any such . ~ condemnation proceedings, btortgagee may be represented by counsel selected by Mortgagee_ The proceeds ot any award ` ~ or compensation so received shall, at the option of Mortgagee, either be applied to the prepayment of the Note nnd at the ` rate of interest provided t~erein, mRardless of the rate o! interest payable on the award by the condemning authority, or at ~ the option of Mortgagee, such award ahall be tiaid over to Mortgagor for rrstoration of the Mortgaged Property. ~ 21. I( Mortgagee, pursuant to a c•onstruction loan agreement or loan commitment made by I?iodgagea with 111ortgagor, ~ agreea to make construction loan ad~•ances up to the principal amount of the Note, then Mortgagor here~y covenants that it _ will comply with all ot the terms, provisions and covenants of said construction loan agreement or loan commitment, will ~ diligently construct the improvementa to be built pursuant to the terms thereot, all oi the terms thereof which are in- ~ corporated herein by re(erence as though set torth tully herein and will permit no defaults to occur thereunder and i[ a de- fault shall ocrur thereunder, it shall constitute a de(ault under this Mortgage and the Note. ¢ i ~ 22. At the option of Mortgagee, blortgagor s1ui1) provide Mortgagee with periodic certified audited statements ot the s ~ financial condition of Mortgagor. £ ~ 23_ ~lortgagor represents and warrants that i( a rorporation, it is duly organized and validly e:isting, in good atand- • _ ing under the laws of the state of its incor~wration, has stock outstanding which has been duly and validly issued, and is ~ qualilied to do business and is in good standing in the State of Florida, with (ull power and authority to consummate the loan contemplated hereby; and, if a partnership, it is duly formed and validly e:isting, and is fully qualified to do business _ in the State ot Florida: with (ull power and authority lo consummate ihe loan contemplated hereby_ i ~ 24. In the event any one or more ot the provisiona contained in this Mortgage or in the Note shall for any reason ~ ~ be held to be invalid, illegal or unentorceable in any respeM, such invalidity, illegality or unenforceablity ahall, at ihe ; ~ option of the Mortgagee, not affECt any other pro~risions of thia Mortgage, but thia Mortgage shall be construed as it such ~ ~ im~alid, ille~al or unen(orceable provision had ne~•er been contained herein or therein. The total interest payable pursuant ~ to the Note or thia Mortgage shall not in any one year exceed the highest lawful rate o( interest in the State ot Florida. : > f 25. The covenanta and agreementa herein contained shall bind and the benefita and advantages shall inure to the ~ respective heirs, e:ecutorH, administratora, successors, nnd assiqns of the parties hereto. Wherever used, the aingular ~ number shnll include the plural, t6e plura! the singular, and the use of any gender shall be applicable to all genders. All ~ covenants, agreements and undertakings shall be joint and several. In the event additional numbered covenanta or para- q ~ ~graphs are for convenience inserted in thia Mortgage, auch edditional covenanta shall be read and given ettect as though ~ ~ following this covenant in consecutive order. > $ ~ - ~ ~ ~ - ']Q ~ 80UK ~ ~ ~7 PA~E ~ ~ `