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Home My WebLink About0927 upply xuch reols, iat+u~~ und profib received by it on the indebtedne~s seCUt~i! ~ii~ &f such ~~a 1Nurtgagee deter- minas. The right to entrr and tuke ~wsac~vion ot the MoHgugecl Property,?to'mn ~ and ohen e the a~ und to colle~•t the rents, iesue~ and protib thereot, whelher by a ceceiver or otherwiae, ahall be cumulative to any ot~~ght or remedy hereunder or etforded by law. and tnay be execrised concureently therewilh or inde~~ndenUy thereot. I~iortgagee shnll tie liubte to account only for auch renb. issue~ and protib actw~lly rereivad by Mortgugee. 14. 1t the indebtednese secured heteby ia now or herrnfter further secured hy chattel mortg,?ges, sei•urily interexta, tinuncing atatements, pledges, contracta of Ruare~nty, uesignments o[ leusea, or other securities, or it the Mortgpged Pro- - perty hereby encumbered conaista oI more than one {~n~el ot real property~ Morlgagee may at ita oplio~ extwust any one ~ or. more ot s~id securiti~ und security hereunder, or auch_ parcela ot the eecurity hereunder, either concurmnlly or inde- pendently. and in auch order ae it uwy determine. 15. This Mortgage ahutl aecure not only existing indebtedr?eaa, hut nlso auch tuture ~dvancee, whether such advances are obligatory or to be made at the option of Mortgagee, or~otherwise. as are made within twenty (20) yeare (rom the date hereot. to the same e:tent as it auch future advances were made on the dnte ot the e:ecution of this Mortgage. but such se~~ured indebtednc~ss ahull not exceed at any time the maYimum principal amou~t of S plus interest, and any diabursemeats made tor the payment of taxea, leviea, or inaurance, on the Mortqaged Properiy, with interest on auch diabureements. Any sur6 tuture advancee, whether obligatory or to be mnde nt the option of the Mortgagee, or ot6erwise, may be made either prior to or atter the due date o[ the Note or any other notes aecured by this 11lortgage. Thia Mortgage ia given tor the apecific purpose o( securing nny ant! ~Il indebtednees by the Mortgagor to Mortgagee (but in no e~~ent a~ll the aerured indebtedt~esa exceed at any time the ma:imum principal amount set forth i~ this parngraph) in whatever munner this indebtedness may be evidenced or represented, until this Mortgage is satisfied of record. All coven- anta and agreementa contained in this Mortgage shall be applii~nble to nU furiher advances mnde by Mortgngee to Mortgagor under this tuture advance clause. 16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwiee a[torded by law, shall operate ais a waiver thereot or preclude the exercise thereof during the continuance ot any detault hereunder. No waiver by hlortgagee ot any default ahull conatit~te a waiver of or coneent to su6sequent defautts. No (ailure ot Mortgagee to e:emise any option herein gi~•en to accelerate maturity of lhe debt hereby secured, no torbearance by Mortgagee before or atter the e:etciae of such option and no withdrawal or al~ndonment of (oreclosure proceeding by Morigagee shaU be taken or con- strued as a waiver ot its right to exercise such option or to acrelerate the maturity of the debt tiereby secured by reason of ~ny past, present or future detuult on the part of I1lortgagor: and, in like mnnner, the procurement ot insunnce or the ~wy- ment of taxea or other liens or charges by 1Nortqagee shall not 6e t~~ken ar construed as a w:~iver of ita right to acirlente ~ , the maturity ot the debt 6ereby secured. 17. Without at[ecting the liability of Mortgagor or any other person (except any person e:pressly released in writing) for payment of any indebtedness aecured hernby or [or perfomnance of any obligation contained herein, and without affect- ing the right$ of Mortgagee with respect to any aecurity not e:pressly released in writing, 11lorigagee may, at any time and from time to time, either before or after the maturity ot said note, and without notice or consent: (a) Release any person tiable tor payment ot all or any part o( the indebtedness or tor pertormance o( any obligation. . . (b) Make any agreement extending the time or otherwise alt~ting the lerma of peyment of all or any j~.~rt ot the indebtednesa, or modi(ying or waiving any obligation, or subor~inating, moditying oi othemise dealing with the lien or charge hereof. ~ (c) E:ereise or rnfrain trom exercising or waive any right MoHgagee may have. (d) Accept additional security of any kind. (e) Releaee or ot6erwise deal with any property, real or peisonal, securing t6e indebtedness, including alf or any p:~rt ot the Mortgaged Property. 18. Any agreement herea(ter made by Mortgagor and Mortgagee purauant to this mortg:~ge shall be su~~erior to the rights of the holder of any intervening lien or encumbrance_ 19. Mortgagor hereby waives all right of homestead e:emption, if any, in the Mortgaged Property_ 20. In the event ot condemnation proceedings of the Mortgaged Property, the award or compensation payable there- under is hereby assigned to and s6a11 be paid to Mortgagee_ Mortgagee shall be under no obligation to question tbe amount of any auch award or compensation and may accept the same in the amount in which the same ahall be paid. In any such condemnation proceedings, Mortgagee tnay be represented try counael selected by Mortgagee_ The proceeds of any award or compensation so received shall, at the option ot Mortgagee, either be applied to the prepayment of the Note and at the rate of interest provided therein, regardlesa of the rate ot interest payable on the award by the condemning authority, or at the option of Mortgagee, $uch award ahall be paid over to Mortgagor for restoration of the Mortgaged Property_ 21_ Ii Mortgagee, putsuant to a conalruction loan agreement or loan commitment made by Mortg~gee with 11lortgagor, agrees to make construction loan advances up to the principal amount ot the Note. then Mo~tgagor here6y.covenants that it will comply with all of the terms, provisions and covenants of said construction laan agreement or loan commitment, will diligently construct the improvementa to be built pursuant to the terms thereof, all of the terms khereo[ which are in- crorporated hernin by reterence as though set torth fully herein and will permit no defaults to omir thereunder and it a de- i fault shall occur thereunder, it shall constitute a detault under this Mortgage and the Note. 22. At the option of Mortgagee, Mortgagor ahall provide Mortgagee with periodic certified audited statements of the financia) condition of Mortgagor. 23. •Mortgagor represents and warrants that i( a corporation, it is duly organized and validly existing, in good stand- ing under the lawa of the atate ot its incorporation, has stock outstanding which has been duly and validly issued, and is qualified to do business and is in good atanding in the State o( Florida, with full power and authority to consummate the loan contemplated hereby; and, it a partnerahip, it is duly tormed and validly e:iating, and is tully qualified to do business in the State of Florida: with (ul! power and authority to consummate the loan contemplated hereby. 24_ In the event any one or more of the provisiona cont~~ined in this Mortgage or in the Note ahall for any reason be held to be invalid, illegal or uneniorceable in any respect, auch invalidity, illegality or unenforceablity shall, at the option o[ the Mortgagee, not affect any other provisions of this Mortgage, but thia Mortgage shal) be construed as it such ~ invalid, illegal or unenforceable provision had never been contained herein or thetein. '!'he total interest payable pursuant ~ to the Note or thia MortRage shall not in any one year exceed the higheat lawtul rate o( interest in the State of Florida_ I ~ 25. The covenanta and agreementa herein contained shall bind and the bene(ita and advantages shall inure to the ~ reapective heira, e:ecutors, administrators, succea.gors, and assigns of the partieP 6ereto. Wherever used, the singular i number shsill include the plural, t6e plural the aingular, pnd the uae of any gender shall be applicable to ull genders. All ~ covenante, agreemente and undertakings shal) be joint and several. In the event additional numbered covenants or para- ! graphs are tor convenience inserted in thia Mortgage, auch additional covenants shall be read and given etfect as though ~ tollowing this rnvenant in coneecutive order. ~ i { ~ ' i - 6COM~~ ~ ~