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Home My WebLink About0318 :~ppl}~ +u~•h rent~. i+.:u.•s and pro(ita recei~•c~c1 by il on the indrbteYlnc~x~ ,~ti•umd h~•mby in ~u~•h ordrr c~s :~tort~;:i~;~+• det~~r ~ninrs. 7'he right to ~~nt~~r zind /.ikr ~w*s~•s~iun of the I11orl~a~KcK) 1'ru~h rty, to man;~KF :~nd u~x•r:itr Ihr ~:~~n~•, and to ~Y~II.r•t the renta, issues and profit8 thereuf, whether 1?y u~~'eiver or othcnvise. sh.~il (~e cumulati~e to uny ~~the~ ~~Rht or n~mirly~ hereunder or n(tordeci by luw, au~d ttuty i~e exercised i•oncurrrnUy ihrn~Nith or inde~~endentl~ thrn~.,f. :11ortK.,Ktr shull 1?e lii?ble to airount only tor such mnls, issue~x und profits a~ctuully rn.•ei~cK1 by 111orlgagee. 14. It the indebtedness sc~vnd he~ehy is nuw o~ herraftrr furthe~ secun•d by ch:~ttel mortKag~~, scY•urity intenyts. finnncing st:itements, plcdgc~, contn~cts o! gu:irnnty, a~+ignments of leases, or othNr scr•uritic~, or if the Mortgageci Pro- ~x rty hereGy erirumtx•red ~v~nsista ot tnore thun one Ek~rcrl ol nnu) property, Mortgagee may i~t ils optiun exhuust uny one or more of eu~id securilietz ~nd sctivrity hemunder, or such ~x~rcrls ot the ~•urity hemunder, either concurrenUy ur inde- {?endently, and in such order as it nu~y detrrn~ine. 15. This Mortgage ah:ill securn not only existinR indebtedness, but also such (uture ad~un~rs, v~~hether su~•h :~d~ancc~x a~r obligatory or to t~e made ut the option oi MortKagee, or other.n~ise, <is tue made within tw•enty (20) years frum the dnt~ hereof, to the r~.ame extent as i[ such future ad~•amY~s were made on lhe dute ot the execution o( thia rtorigage, but surh ~ecured indebtecinecg sh:~ll not exceed ut uny time Ihe m:~ximum princi~~al umount ot S plus interest, and any disbursements ~ruide tor the ~ryment of taYes, le~~ic~c, ur insur.~nce, on the 11lort~.~K~`d YroI?er1Y. with interest on such disbursements. Any such tuture ~dvun~~es, whether obligatory or to lx~ mtide at the option ot tfie Aturtg.iRee, or othenvise, nu~y be mnde eilher prior to or ntter the due date of the Note or uny othe~ notes secured by ihis A1ortK~~Ke. This I41ortRa~ge is given for the specitic ~wr~~ose ot s~x•uring .~t~y and all indebtedness by the MortgaRor to MoHgaRee Ibut in no event sh:ili !he sea~ureel indebtedness e:ceed a~t any timer the tnaximum pii/~ci~wl utnount +et torth in ihis ~k~r.~Rraphl in «•hatever manner this indebtednes4 may 1?e evidem~ed or rnpresented, untit"this blorigaRe is ,:iti~(ic~l ot record. All co~en- :~nts :,nd agrermenta contaened in this Mottgu~e shall he applicablr to al) turther advHnc•rs m:~de by Morigagee to 1~1ortRugor under this tuture ad~~ance ctause. ~ 16. No delay by Mortgagee in exercising nny riqht or remedy hereunder, or otherwise affurdrd by law, shall o{~er~te as n w~i~•er thereof or preclude the exercise thereof during the continuance of any detault hereunder_ No wai~~er by A4ortKugee of any detault shaU constitute a waiver ot or consent to sul~seyuenl def~~ults. No failure of ?liortgagee to exerciu~ any option hernin ~iven to an~eler.~te maturity of the debt herehy sc~•urecl, no torhearani-e by Tlortg~gee hefore or a(ter the exercise ot such option nnd no withdmwal ar at?andonment of foreclosum precc~ding by 111origagee shall he taken or con- strued as a waiver of its right to e:ercise such option or to acceler.~te the maturity of the debt hemby securecl by m:+son ot am~ ~wst, prc~sent or future detaiuH on the ~x~rt of A1ort~;a~;or. .ind, in like manner, the pmcomment ot insur.~n~•e or the ~?:iy- ment of taxes or other liens or charges by Atort~aRee shall not I~e taken or ~~onstnu~d :~s a~~•ai~-er of i1s ri~ht tu ac~-c~ier.~te the rrwturity of the d~bt hereby sec•ured. 17_ Without aftecting the linbility ot 111origaRor or any other ~~erss~n lexc~pt any ~x~rson expressly released in writinR) [or ~xiyment of any indebtednecg secured hembv or for perform:ince o( an~ obliRation contained hernin, and ~•ithout affec•t- ing the ri~hts of rtortgagee with rea~~•t to any se~•urity not expressly released in w•riting, 11lort~aRee may. at .+ny time and from time to time, either lx~fore or ~fter the maturity of said note, and without notice or consent: (a) Release any ~~erson liable for ~u~yment o(~all or any ~~art of the indebtedness or tor ~~erformance of any obli~ation. (h) Mnke any aRreement extending the time or othen~•ise altering the terms oi ~k~yment of all or any ~x~rt of. the indebtedness, or moditying or wai~•in~ any obli~ation, or su}~ordinatin~, mocliiying or otherw•ise de.iling w•i~h the lie~ or charge hereof. (c) Eiercise or refr~in (rom exen•ising or w~aivc :iny riRht Mort~a~t~ may ha~c_ ; (dl Accept additional security of any kind. j (e! Release or otherwi~e deal ~+•ith any pmperty, real or ~~ersonal, securing the indeMedness, includinR all ur any ~u~rt ~ of the lUortgaiged Property_ 18. Any agreement hereatter made by A1ortgagor and ;~tort~agee pursuant to this mortRaRe shall t~c su~~erior to the rights of the holder of any inten•ening lien or encumbr.ince. 19. i~iortgagor hereby wai~•es xll riRht of homestead exemption, i( any, in ihe Mortg.iged Yroperty. 20. In the e~•ent o( condemnation pra•eedings of the Elortgaged Property, the avvard or compensation ~~yable there- ~ under is herehy assigned to and s!?:ill be ~aid to rfortgagee. 1~lortgagee shall be under no obligation to question the amount ~ of any such award or compensation and may accept the same in the :unount in v?~hich the same shall he ~~id. In any such condemnation proceeciings, MortgaRee may be mpresented liy counsel selected b} hlort~a~ee_ The proceeds of any awarcl ~ or compensation so receivec! shall, at the option of rlortgagee, either be applied to the pre(ra~ment ot the Note and at the r.~te of interest pro~•ideci therein, mgardless ot the rate of interest payable on the award by the condemning authoritt•, or at ~ the option of Mortgagee. such aa•ard shal) I,e ~k~id over to MortQaRor for restoration of the atortgaRed Property. ~ 21. I( \iortgaRee. pursuant to a construction lu:~n agre~ ment or loan commitme~t made by Alortgagee ..-ith :~fortR:+gor. ~ <iRrees to muke constraction la~n ~d.~ances up to the princi~k-?1 amount of the Note, then ~Tortgagor hereby co~~enants that it will comply with all o! ihe terms, provisions and co~~enants of said construction lo~n agreement or fa~n commitment, will diliQently construct the impro~~ements to he built pursuant to the terms thereof, all of the terms thereof w~hich are in- corywr.ited herein by reference as though set forth (ully herein and will permit no detaults to occur themunder and if a de- fault shall occur thereunder, it shall constetute a default under this l~torlRaqe and the Note. 22. At the option of Diortga~ee, ~tortg.~gor shall pm~•ide 1ltortgaRee K•ith periodic certified audited statements ot the fin:~~cial condition of 111ortgagor. ~ 23. 24forlgagor represents und N~arrants th:it i( a cror~wration, it is duly or~anized and validly existing, in ~ood stand- ~ ing under the law~s of the state of its incor~wration, hiiS 5~0~'`( outstanding which has heen duly and ~~alidly issued, and is qualified to do business and is in Rood standing in ihe St~te of Fiorida, with full power and authority to consummate the ~ loan contem lated hereby: and, iF a ~rtnershi d is dul tormed and validl existin . nd is tully quali(ied to do husiness ~a P' Ih P. ~ Y Y K. ~ - in the State of Florida: w•ith full power and authority to consummate the loan contemplatecl hemby. 24. In the event any one or more o( the procisions contained in this ~lortgage or in the Note shall for anv reasvn i~e held to f?e in~•:~lid, ille~al or unenforceable in any rks~~ect, surh invalidity, illegality or unenforceablity shall, at the _ option ot the ~lortgaqee, not af(ect any other provisions of this hlortga~;e, but this Mortgage shall be construed as if s~~•h inv,~lid, illegal or unen(occeable prot~ision had nerer I~een contained herein or therein. The. total interest payahle pursuant to the Note or this MortRage sh:il) not in any one ye:ir exi•eeci the highest lawful rate of interest in the State of Flurid:~. :;a ~3 ?.5. The coven:ints and aRreements herein contained shall bind and the beneiits and ad~•antages shall inum to the = resi?ecti~•e heirs, exerutors, administrators, suc~~es~rs, and assigns of the ~k~rlies hereto. «hemver used, the sin~ular - number shall include the plurnl, t}:e plural the sinQular, ~nd the use of any Render sh.~lt be applicable to all genders_ All = covenanta, agreements s~nd undertakings shall I~e joint and several. In the e~•ent additional numbereci co~~enants or jk~ra- _ Rraphs are tor concenience inserted en this rlort~;a~e. such additional co~-enants shall be mad and gi~-en etfect as thouRh following this ca~•enant in consecuti~•e order. ' ; -3- ~N:~, U k BGOK PAGf ~1~ x - - - - - , . _ _