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Home My WebLink About0243 surh n•uts, ~+su.•s and pn~hts ~~~c~•i~•~~c! I~v il on ~he ind~~l~t~•dnrss ,iK~unv1 hemhy in s~irh onl~•r :~x :1~urt~;:~R~ti• ~I~•t~•~- ~nin~~s. '1'h~~ nKht tu .•nt.•r :~ud taki• ~H~~+~:~;i~,n uf th~~ Murt~;:~Krd !'ru~x•rty. In m:~i~.iy;i• and u~x•r.?t~• thi~ vuui•. :~nd In ~~~Ilr~•1 th~~ renta. ~svu.•x .~nd pro(its th.~n~~t, whrihc~r hy ~e.•ei~~er or cdhrMise. shall Ik~ cuinulati~~> to :iny oth~~r riRht or n•m.•~ly herewider or utfurd~~c1 by luw, and m:~y Iw ezercisrd i•oncurrenlly th~•n•with ~~r ind~~xnd~•ntl~~ th~•n~~t. A1oriK:i~;~~e• sh:Jl I~e liuble to ai•counl unly for su~•h nmts. issu~~s and pro(its a~•tually n~•riv~Ki by !11ortKu~tr. 14. If lhe indebt~Ytnr~ sc~vmcl hen~by is nuw or herruflrr turth~~r secumd hy ~•hattel ~norl~;.iges, u~~•ur~ty inler.•sts. fini?nring statements, p1~Y1K~w, conUa~•tc o( Kut~r.~nty. :~:.i~;nmi•nls ot (eaus, or uther s~~•urilirs, ur if lhe Alortk,~K~vl I'ro- ~K~rty hereby encumlx~red i•unsists uf ~nore th:~n une ~~:~rrel u( ~rrul pro~H~rly, Alurtgagre mt~y ut its option exhausl nny on+~ or mum ot a:~id se~•urilire: .u?d scti•urity hereunder, or Yuch ~u~rcels o( the sei•urity hereunder, either ~•oncurn•nUy or inde• ~x ~dently, :+nd in such order .~s it m:~y determiue. 15. This 111ortRa~;e shall scY•ure not unly t~xistinR indc•bteclness, but al~ su~•h tuturr :~d~:~n~•es, ~vh~•ther su~•h :ui~~~n~•.~s am obliKatory or !o t~e m:~dc• i~t the optian ot 1toriK:~K~~•, or otherwise, iis are m:ide within t~•enty (2~) years (rom th~ d;~t~• hereof, to the ~ime extent as it sui•h futum .~dvanres w•a•n• mude on lhe dutr of the ~•xecutiun o( this MortRaKe, hut such st~•un~c1 ind~bt~~cin~_~ shall not excerd ai any lin~e the maximum princi{?:~I umuunt of S NfA {ilus interest, .ind :~ny disbursrments m.~de !nr the ~x~yment of taYes, Ic~ics, or insurance, un ihe Alurtg:~gc~1 Pr~~~x•rty, ~~ith intemst on such disbur3emE:nts. Any sui•h futurr ad~~.inc~•s. N•hrther oLligutory or to I~e mude at the option of the AtortKaK~~•. ~ or otherwise, may I+e made either prior fo or atter the due d~ite ot !he IVote ~~r any othcr notrs scruretl b>~ this \iortKaKe. This Mortguge is Ki~~en for the s{x~•iii~• pur~iose of sc~•urinR a~ny and al! indehtc~lnc~ by the T1ortK.~Ror tu MortR:~~er (hut in no e~~ent shall the serurecl indebteclness excc~Yl at any time the• maxi~num prin~•ipal :i~nuunt set (orth in this p:~r.~Kra~,h) ii~ ~~~hate~•cr manner this indebteclness may 1?e eviden~~c~c1 or repn~~~ntecl, until this ?~fortg:~Ke is ~:~tis(ied o( rcK•ord. AU co~•en- ants and agrc~c•ments ~wntained in thi4 ~tort~;.~x~~ sh:till t~e :~ppli~:iblt• tu :~II further advan~•~w mad~~ l~p 111origa~;~~• tu \fortgagor under this.future ad~~ani~e clause. 16. No delay by Mortgagee in exereising any right or remc~ly hereunder, or otherwise aftorded by law, shall o{xrute a~ waiaer thereot or preclude the exen•ise then~( during the continu:ince of any default hemunder. l~u wai~er hy ~lortgugee o( any def:~ult shuU constitute a~~•ai~~er of or consent to sul~eyuent defuults. I\o failure ot 111artRagee to ex~n•i.e :u~y option herein gi~•en to accelernte maturity ot Ihe debt herehy ~a~•ured, no torFx~arn~i~e by Mort~aRee i~rfurn ur a(ter thi• exen•ise of such option and no w•ithdraw•al or abundopment of toreclosure pr«~eeciing by hfortgs~gee sh:~l) t?r t:~ken or i•on- strued as a wai~•er of its right to ezercise such option or to a~•celer.ite the m:itucity of the debt hemby sc*cvn~cf by mu+un ut a~}• ~?asf, present or fut~re def:~ult on the ~k~rt o(.\lort~;:~~or. and, in lik~• mannt~r, the Eira•un•ment o( insuram•e or the p~?y- ment of tuxes or other liens or i•harRcs hy 11urtR:~Ktv~ sh.~l) not I~e taken or ~•onrtruec~ :~s a w:~i~c~r of its nght to accrlente the maturitv of the drht hemb~• s~~•ured. 17. ~Yifhout at(ecting the liability of \lortg..~or or .tny other {~erson (ex~•ept an}• ~xrx~n expmssly rele.~,~~c1 in ~vritin~) (or p.~yment of .~ny indel~tednc~s securecl hereby or !or ~~erformance of any ohliKation contained hemin, and ~vithout :~t(c~•t- ing the riRhts of Atortgagee w•ith res~~~t to any sc~vrity not expms,ly mleased in HritinR, 111ortRagc~ mny, at :~m• tinu• and from time to time, either I?efom or a(ter the maturit~ of s:?id note, :~nd without notice or consent: la) Helease any ~~erwn liable for ~k~~~ment uf all or :~ny {k~rt of the indeMc~clnetS or for performan~r ot an}• obliR.ition. ~b) \lake any aKmrment extending the time or othen~•ise altering the terms of ~k~yment of all or :~ny p:~rt ol the indebtedness, or modi(ying or wai~•ing any o1~liQation, or sutwrdinalinK, m«lifying or othen~isc• cte.~linR Hith the lirn or char~t• hereof. ~ Ic) Exercise or refrain fmm exemisin;, or w~ai~•~~ any riRhf A1ort~:~Rcr may ha~~e. ~ Id1 Arcept additional secvrity of :my kind. ~ lel Release or othen+•ise deal with .~ny pro~>erty, real or ~~ersonal, secvrinQ the indrbtedness, includinR all or:~ny ~~art f ot the :~tortgaged Yro{~erty. ~ 18. Any .iRreement herea(ter made by AturtgaKor and ~lortg:~K~~ pursu:~nt to this mortkaKe sh:~ll tx~ su~x~rior to th~ ~ riRhts of the holder of any intervening lien or encumbrance. E i 19. 1~tortg:~Ror herehy wai~~es al1 right of homestead exemption, if :iny. in thc~ AtortR:i~ec1 Pro~~rh•. ~ 20. In the event ot ~•ondemnation pr~•eedings of the riortgaged Property, the award or c•om{~en~ition p:iV:il)IP there- ~ under is hereby assi~ned to and shali I~e ~~aid to ~1ortKagee. MortgaRee shall F?e under no obli~ation to quesiion the :~mount ~ uf any such aa~arc! or c•om~mnsation and may accept the same in the amount in which the s:~me shall t?e paid. In any ~uch condemnation proc•eedings. \fortgagee may Ix repms~ntecl hy cow~sel selc~•tc~1 hy MortgaKee. The pr«~eeds of any aw~ard ~ or ~•om~xnsation so rec•ei~•ec1 shall, at the option of i~lort~aKee, either t?e applied to the prepa~ment of the Note and at the ~ ratc~ of intc:rest pro~•ided therein, re~ardless of the r.~te o( interest p~iyable on the a~•~~rd b~~ the condemnin~ authorii}•, or at ~ the option of l~iort~;igre, such aK:~rd shall t,e paid o~•er to ~tortgaRor tor restoration of the ;~tortRaged Yro~~erty. ~ ?1. I( ~tortRaKee, pursuant to a cunstrui•tion loan aKri~cment or loan commitment made by ?~tortK~?gee ~~•ith hlori~:i~or. ~ agrees to make constni~•tion lo:~n ad~anct~s up to the principal amount of the Note, then Atortgagor hereby ~•o~-enants th.~t it ~ ~+ill comply with all of the terms, pro~isiuns and co~•enants o( s~iid construction loan agreement or loan commitment, w-ill ~ diliKently constnict the impro~•ements to t~e huilt pursuant to the tern~s therenf, all of the terms therc~c~f w~hi~~h are in ~ cor~x~ratetl herein by reference as thouKh set forth (ulh• hemin and w•ill ~?ermit no de(aults to oc~vr themander and i( a de- ~ fault shall ocrur thereunder, it shall constitute a deL•wlt under this ~1ortKaRe and the i\ote. ~ ~ 'l'l. At the option of MortgaQec~, ~1ort~agor shall provide ~tortk:~Ree with ~~rioclie~ ~•ertified auditecl statements of thr ~ fin.~n~•i:~l condition of MortRagor. ~ 23. ?~tortKa~or repreunts and warrants tiiat ii a i•orE~or.#tion, it is duly organized and ~•alidly existinR, in Rood stand- ing under the laws of the state of its in~•ur~~ration, has stoi-k outstanding w~hich h:?s been duly and ~•alidl~• istiuecl, and is quali(eed to do busines.4 .+nd is in Rood standinR in the State o( Floric~a, w•ith (ull ~?ower and authority to consummate th~~ loan ~•ontemplaied hereby: and, it partnership, it is duh• formecl and ralidly existing, and is fully qu:ilified to do busin~~s ~ in the State of Florida: weth (ull ~?ower :~nd authority to c•onsummate the loan contemplatc~l hereby. ~ a = 24. In the e~~ent am one or more of the ~~ro~i~ions i•ont.~ined in this 111ortRa~e or in the Note shall [or any reason t~e held to i,e in~•.ilid, illegal or unenfor~~e:ible in :iny res~~ec•t, sui•h im•alidity, illeRality or unenforceablity shall, at the - o~ition of the tlortQ:~~ee, not a(f~~~t any other pm~-i~i~~ns o( this 4tori~age, but this ~lortrage shall I~e i•onstrued as i( ~u~•h im:?lid, illegal or unen(or~e:~hl~ pmvision had ne~~Fr t~n cnntainecl herein or therein. The total i~terest pa>:~hle pursuant - to the Note or this :~Tort~a~;e shali not in any on~ ~~ear ex~•ec~cl the hiKh~st la~+~ful rate of interest in the State of Florida. 25. The covenants and agreements hc~rein containecl ~h:ill hind and the trenefits and ad~•ant:~Res shall inure to the res{n~•ti~~e hf•irs, ex~•utors. :~dministratorv, su~-~~e•ssors, arsd a~.5i~ns nf thi~ pariies hereto. Where~•er usc~, the sinp,ul:~r = numf,er shall in~•lude the plur.il, the plur.il the sin~ular, and the use of any gender shall tx~ :~pplicahle to all Renders. All cY?venants, agr~ements and undertakinRs shall f~e joint and se~mr.~l. !n the e~ent additional numberecl c•o~•en:~nts or par.~- ~raphs are tor con~•enience inserted in this ll4ort~a~e, cuch :~dditional i•o~'enante shaU f~ read and ~;i~•en effecf ac thou~h ~ follow•ing this co~•enant in c~onsecutice order. . ` -3- _ °~~~zs~ z~~ _ _ _ ~ t~ A _ _ : =r ~ _ .