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Home My WebLink About0224 :~~qd~' ~u~~h n•nts. i+,urs :~nd ~~rotita mceiv~~d hy il c~n Ih~~ indi~blcYln~•~.v .c~•um~f K~mby in sui•h nrd~•r :ix 11ur1~;:~~;~ti• d~•t~•r min~•s. 'I~he right tu ~•nter ~~nd tak~~ ~M~~+es+~un uf thr \1urtKaK~~1 Yru{K•rty, to man:~~;~~ :~nd ~,~~r.~t~• th~• .:un~•, and to • oUrrl the mnta, issues and protita the~euf, Mhether by a mcei~~+r ur othen~•ise, shaU tx cumululive to :u~y ether nKht u~ n•m~vly hrreunder or atturdEd Uy (:iw, :~nd muy I~e exen•isrd i•un~•urrenUv themwith or indcr~x•nd~•ntly Ih~~n•u(. I~lurtga~;tr shnll I~r li:iblr to .ii•c~unt unly to~ such mnts, i~ues und pro(its :~~•tually r~~cri~~~c1 by Atorigug~~r. l4. It the indebtcdn~:tiv se~•un~cl hcreby ia now or he~ea(trr (uriher scvumd hy i•hultel mort~;aK<•s, s.~~•urity inhve~ts, financing xlatemr~ts, p1~~1Rew, conira?cta of guar.+nty. ativiKnm~~nts of (easrs, or other u~•urities, nr if the AtortK:?Rc~c1 Yn,- ~K~rty hrnby eni•uml?erecl cun+ists uf tuore than ui?e ~?:i~rel oI ~ral pruExrty, 1~lortgaKre ~uuy al its optiun ~•xh:~ust +~ny um~ or mon ot b:~id ~~e•uritirs and uecurity hrreunder, or ~uch ~kucels u( the sevurily hemunder, either com•urn•ntly or indt•- {xndenlly, and in su~~h order:~s it muy dctrrmi~~e. 15. This Alortguge-shall ~•ure not only existinR indebtcxlnes.a, bul iilso surh (utum advance~s, w•hethcr su~•h :~d~:~ncc~ am obligntory or to he mude at the option ot I1lortg.~Ree, or othen~•ise, :is are m:ide within twenty (`201 ycars (rom the d;d~~ hemof, to the same extent :ta it such futurn ad~~an~YS wrre made on the d:~te, ot the exc~•ution o( tt~is Alortgake, hut su~•h serured indebtcdness shall not exi•ecd at any time the m~~Yimum princi{xil umount nt S plus intemst, and any disbursementa m:~de for the ~k~yment ot tases, levies, or insurnncc, on the 111ortga~ed Pro{x•rt~~, N•ith interrst un such disbursemcnts. Any such [uture ud~~.inces, whether obligutory or to I~e mude ut the option of the Mortg:~ge~•. or otherwise, may I~e made either prior to or atter the due date ot the Note or any other notrs ~•urcd by this 111ort~;aKc:. This A1ortRage is Ri~~en (or the s~x~•itic pur~x~se ot scK•uring any und all indebl~dne~ by the hlortgagur to riort~agce Ihut ~n no event shall the securet! indebtedness excecxl at :iny time the maximum princi~?al amount set torth in this Ex~rnRraph) in whatever manner this indebteclnesv mny i~e e~•idenced or repmsentecf, until this Mortg:~ge is s:~tisfied oi record. All rncen- :ints t~nd .~gmetnenls contained in this 141ortgaKe sh.~ll he .~p~>li~•able to _:~II further udvunces m.~d~ t~v A1ort~:~Ree to 111ortguRor under this [uture ad~~un~-e clause. 1G No del:~y by Mortgugee in exercising any right ur remc~cly hemw~der, or othen+~ise .iff~rd~~cl by IitW, shall o{xr.ite a, ~vai~•er thereof or preclude the exerrise thercof during the continuanir of noy default hereunder. No w•i~iver by \turt~agc~ of any def~ult shall constitute a w:~iver ot or ~•onsent to sulneyuenl deL~ults. No (ailure of Mortgagee to exercise uny option herein Ri~~en to acceler.~te maturity of the debt hereby secured, no forixar.im~e by A~ortgagee t~etore or attrr thc• exercise o( such option and no withdravval or atn~ndonment of torc~-losure pnx•eedinR by htortgugee shall be t.iken o~ ~•on- strutd as t~ waiver ot ils right to eYemise such option or to ni•~Yler.~te the ~naturity of the debt hemby secured by m:~son of uny past, prE~sent or tuture default on the part of MortR:~gor: nnd, in like mnnner, the procurement of insunince or the p:?y- ment of taxes ar other liens or churAes by \1ort~aRcr shall nat ix~ t:~k~n or construecl as a w.ii~•er of ifs riRht tu :~~•i•ele~r.ite• the maturity ot the d~bt hereb~' SM'UM('. 1T. N'ithout a(fecting the liability of ~1ortK;igor or any other ~~erson (except :m}~ ~iersr>n expressly relt~.icerl in writinR? for ~k+yment of any indebtedness secured herei?y or for per(onnance o( any oblig:itip~n contaimd herein, :~nd without :dfe~•t- inR the rights of A4ort~.iqee ~+•ith res~~~t to any se+•urity not expressly rele.~sed in writing, Mortg:sRee m:~y, at .~m• time ~nd fmm time to time, either be(ore or after the maturity ot c~id note, and without noti~+e or consent: ia) Rele,ise any ~~erson liable for ~k~yment of all or any part of the indehtednetis or for ~~er(ormance ~t uny oblixation. (b) Aiake any agreemcnt eYtending the time or otherwise alterin~ the lerms o( paymrnt of :~II or any ~uut of tht~ indeMedness, or modifying or wai~•inK am• ohli~ation, or sul?ouiinatin~, malifyinR or other~n•ise• d~:+iin4 ~ith the lien or rharge hereof. (c) Exercise or retrain fmm exen•ising or w:ii~•E• any ri~ht AtortR:~Rc~e may havc. (d) Accept addition.il security of any kind. ~ (e? Rele~ise or othemise deat H•ith any pro{~erty, mal or ~~er~onal, securing the indebt~~ciness, includin~ :ill or am~ ~~:~rt ~ of the A~lortgaged Pm{~erty. • E ~ . i8. Any aRreement herc•after m:~de by 1ltoriKagor and '~tort~:~Kc~e pursuant to this mort~a~e shall Ix~ su~x~rior to thc~ ' riFhts o( the hotder ot :~ny inten•eninq lien or encumbrance. ~ 19. ~lortg.i~or herehy~ w~ai~•es all ri~ht of homestead exemption, if :~ny, in the A1ortRa~ec1 Pro~x•rty. ' 20. In the event of condemnatiun prex•eedinRs of the 114ortRaged Pro~x~rly, the a~~:~rd or com~~ens:ition payal~le there- under is hereby assigned to and shall 1?e p:~id to 111ortg.~~ee. blortgagee shall be under no obligation to question the amount of any such award or com~?ensation and may accept the ~1me in the amount in which the sime shall be ~hiid. In any su~~h ? ~•ondemnation proceeclings, 1~lortg.~Kee may be repn~sented I?y counsel selc~-ted by lfortgagcr. The proceeds o( any aw:~rd ~ or ~~om~~nsation so recei~~ed shall, at the option o( A'lortga~ee, either be applied to the pre~~ayment ot the Note and at the rate of interest pm~~ided therein, reRardless of the r.~te of interest ~myable on the a~card by the condemninR authority. or at z the option of hiortgagee, such IlK'A['d shall he p.~id o~•er to MortRaRor for mstoration of the ;~1ort~aRvc~ ProE~erty. 21. It \tortg~~Ree, pursuant to a cY~nstructiun luan agn~~ment or loan comn~itment made by A1ortRaRee w~ith AtortgaRor. ~ .iRrees to m:ike c•onstruction lo.~n ~id~•ances up to the principal amount of the Note, then lltortgagor hereby co~•enants that it wiU comply with al! o( the terms, pm~•isions and cu~•enants of s:iid construction loan :~Qreement or la~n commitment. «•ill ~ diliRently construcl the improvements to be built pursuant to the terms thereof, :~ll o[ the terms thereof which are in- ~ ~•or~?orated herein by reference as thou~h set forth tully herein ~nd will permit no def:wlts to cxrur thereunder and if a de- fault shall oci•ur thereunder, it shall constitute a deEault under this ~lortgage and the Note. 22. At the option ot lfortg.~~ec~, Atortg:~gor sh:~ll pmcide ~tortK.~Kee ~sith ~~eriodic cert~fied audited statements o( the ~ financial condition of rlortgagor. 23_ ~lortg:~gor represents and N.~rrants that if cor~wr.~tion, it is duly or~anized and validly existinR, in Rrwd stand- " in~ urder the la«s ot the st~+te of its in~•or~~ration, has stock outstandin~ w~hic~h has 1~een duly and ~•aledly issuecl, and is qualified to do husinc~s and is in ~ood standinR in the State of Florida. with fulf lx~wer and auihorit~ to consummate !he loan contemplated herehy: and, if a partnership, it is dul~ formcd and validly existinR, and is fully qualified to do bu~ine~s in the Sh?te of Florid:?: with full ~~ow~er and :~uthority to consummatr the la~n cuntemplated hereby. _ 'l4. In the e~~ent any one or more o( the pm~~i~ions i•ontained in this Alortgage or in the Note shall for any reason = I~c held to I~e in~~alid, illeRal or unenforceable in any resE~ec•t, such in~.~liditv, illeFality or unenforc eablity shall, at the ~ption o( the hlortKaRee, not affec~t any other pro~isions of this !~1ortRa~e, Irut this ]biortgage shall lie conctrued as if such im:~lid, illegal or unc•nfor~•rahle pm~~ision had ne~•er heen containeci herein or therein. The total interest p~yable pursuant -t to the Note or this MortR.~Ke shal! not in :iny one ye:~r ex~~ef•d the hiQhest lawful rate of intemst in the Stal~ of Florid~~. -3 ,`y 2.~. The co~•enants und agreements hemin containec! shall bind and the benetits :~nd ~idvantaAes shall inure to the res~~e~•ti~•e heirs, executors. administrators, sucres.cors, s~nd aasiRns o( the parties hereb. ~'~'hPrever used, !he sinQular - numt~er sh.~ll include the plural, the s~lural the sinRular, and the use of any gender shall In :?pplic'able to all ~enders. All i•o~•enants, agrecments and undertt~kings shall he joint .ind sc~•ernl. In the e~•ent additional numberecf covenants or para- Kraphs are (or con~•enience insc~rted in this A1ortRaRe, cuch additional cocenants shall F?e read and R~~~Qn effect as thou~h ' follo~+~ing this c~~•enant in rnncecutive order. ~ :r - 3 BGO~ F'ACE 22~ _ - - ~ - - = : : _ x - .