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Home My WebLink About0324 ;i~q~h~ su~•h r.•nts, ~~.u~•± :u?d ~?rufita rEY•eiv~vl by it un ihe indrht~~dn~~~ ;e~•unY) hc•ml~v in tiu~~h urd.•r as \iurl~;.~~;~~~ det~~r n?inrv. 'l~he riKht tu .•ntrr nn<! t.~ke ~w.~+siun n( thr MuHK:?Kc~cl Yru~xrrly. to ~n:~tiag~• :~nd u~K~~:~t~• Ihe ~:~n~i~, :u~d to ~~oll~•i•t thr renty, i~urx .u~d protita thrrru(, Hhethrr by a rcceivrr ur olhrrwi~c, shall IK• cu~uul:~ti~e to any c~th~•r right ur retn.~ly hereundt~r o~ a(l~~rdcri by law, and mny I~e exerci~d ~~uni•urmnUy the:rewilh or inde~H~nd.•ntiy thi•r.~uL Mortgu~;~r sh:~il I~e liuble lo ni•ruunl o~ly for such nmta, i~urs and profita uctuully n~e~ei~•ec! by A1ort~uRee. 1~. It the indebtcdnesa secun~l hemby is now ur herruhrr (urther ~cumd by i•hatlel mortgug.•r, w•~vrity interests. (inuni•inR ataitements, pledgcw, ivnfr:tt•ls o( gu.~r.~nty, assignments of Ieascs, or other sc~•urities, o~ i( thr Murtgaged Yro• ~H•rty hetrby em•umtx~r~d ~~unsists o( ~no~e thun one {u~rcrl ot nul prc~~~eHy, A1ortg:~gee muy at its a~~liun exh.~ust :~ny un~• or more ot s+~id ~~•urities und security hrmunder, or sui•h ~x~nrls of the sE~•urity hen~under, either i•on~~urmntly or indc- ~iendently, und in such order as it muy determirte. 15.' This MortguRe shull z:ecurn not unly existinR indebtedness, but also such (utum ad~un~•eK, whether sui•h ad~nnc~w are obligatory or to iie mude:~t !he oplion of A~lorlgaRee, or othenvise, as arn mude ~ithin twenty (20) years from the d.~t~~ hemot, to the same extent .~s if such tuture nd~•anc~cs were made on the dute of the exc~vtion of this MorigaKe, but such seavred indebtedm~ shall not CXIY'f'(I ut any time the maximum princi~~:~l amount ot S plus interest, and uny disburk•me~ts m:~de for the puymrnt o( taxes, levies, or in.gur.~n~~e, w~ Ihe htortKuked Pro~xrty, with intemst on such disburoements. Any such [uture r+dvun~~c~x, whether obligatory or to t?e m:ide at the o~>tion of the Mottg.~gee, or othenvise, may be mnde either prior to or atler the due dale at the Note or ~ny other notes sirc-umd by this 111ortguKe. This Mortgage is given tor the speci(ic pur~~ose ot ~•uring any and ull i~debtedness by tF~e Mortg.~Kor tu MurtRuRee (but in no e~~enl shall the secured indetitedness ex~•eeci .it any lime the m~ximum princi~mi amount set lorth in this p:ir.~Kr.~ph) in wh:itever manner this indebteclnesa may ix~ evideni•ec1 or represe~itrd, until this A1ortR:~R~ ~5 ~:~~?~r~i ~r m.~~«i. ~u ~~~.~•n- :~nts .~nd ugreements containcd in this 111ortKaKe shall 1~ appli~•ahle to all lurther .id~~un~•~~ m:~de by Mortg:~gee to MorlRagor under this future advunce c•lause. 16. . I~'o delay by 111oHgagee in exercising uny right or rc~mrdy hemunder, or olher~•ix ufforded by I.~w, sh:~ll o{~crate as a wniver theteof or preclude lhe exercise themot durinR lhr continu:~nce o( nny default hemunder. No waiver by ~lortg:~gee of any de(ault shall cronstih~te a waicer of or consent to sul~~c~uent detaults. I~TO (ailure ot Mortg.igee to exen•ise any option herein gi~•en to accelerate maturity of the debt hereby secured, no forbearnnce by hlorigt~gee I~efure or atter lhe exercise of such option attd no uithdrnwal or abnndonment of toreclosure proceetiing by Mortgagee shaU t?e taken or con- strued as a ws~iver of ita right to exemise such option or to ncceler.~te the maturily of the debt hereby sea•ured by re.ison of am~ ~k~sl, present or tutum default on lhe ~~.~rt of I11ort~agor: and, in like m.~nner, the pmcumment of insur<lnce or the ~?:~y- ment ot taxes or other liens or chargc~s by ~tortK:~gcr shall not tx• t:~ken ur i•onstrucYl us .i wai~er of its riKht to :u•i•cler:~t~~ the rrwturily ot the debt hereby ~•ured. ~ 17. Without at[ecting the liahility of ~1ortgaRor or .~ny c,ther E~erson (exi~pt un~ ~xrscm expressly releas~xl in writinR) (or ~xiyment o( any indebtedness secured hemby or for ~~er(orm~nce of any oblig~tion cont.iinrd hPmin, nnd without attect- ing the rights of 111ortgagee with res~~•t to any ac~•urity not ezpmssly released in writing, Mortga~ee may, at ,~ny fime and (rom time to time, either before or atter the maturity uf s:~id note, :~nd without notice or consent: la) Release any E~erson liable for p:ryment ot all or any ~k~rt of fhe indebtedne~s or for performance ut ~ny ubligation. Ib) A'(nke any aRreemenl extendin~ the time or othen~•ise altering th~~ terms of ~k~yment of all or .iny p:~rt o( the indebtedness, or modifyinR or wai~•inQ any oblig:ition, or sutx?rclinatin~, modityinR or othen+•ise dealing v~ith the lien or charge hereof. ' - (c) F.xercise or refrain Irom exen•ising or wai~~e uny riRht 111ort~:~g~~ may ha~e. ~ (d) Accept additional sec-urity of any kind. ~ (e) Release or otherwise deal with any pm~~erty, real or ~~ersonal, securing the indebtedness, inc•IudinR aU or :~ny ~~:~rt o( the Atortgaged Property_ l8. Any aRreement hem:~fter made hy MortgaRor and Mortga~f~~ pursuant to Ihis muH~;aRe shall bc~ su~~rrior to the riQhts of the holder of :~ny inten-ening lien or encumbr<ince. 19. MortgaRor hereb_y wai~~es all right of homestead exemption, if any. in the I1lortg:~ged Pro~~erty. 20. !n the event of condemnation pra~eedings of the Mortgaged Pro~~erty, the award or com{?ens:ition pay.ible there- under is hernby as5igned to and shall 1?e paid to 111ortg:~gee. Morigagee shall t~e under no obligation to question the amount of any such award or com~~ensation and may accel~t the same in the :~mount in ~•hich the ~ime sh:~ll be paid. In an~ such condemnation pr«•eedinKs, ~1orig:~~ee may I~e re~~n~ntec! I~y counsel selected hy I~lortgagee. The prcx~c~~cis of any :~w•ard . or compensation so recei~~ed• ah~ll, at the option o( MortRagee, either be applied to the prepayment o( the Note and ~t the rate o( interest proi•ided therein, reKardless ot the rate of interest ~~yable on the award by the condemning authority, or :+t the option of MortRnRee, such awarcl shall 1?e ~k~id o~•er to M~~rt~aRor (or restoration of the blortgaRed Pm~,erty. 21_ If \toriRaRee, pursuant to a~•onstruction lu:in :~Rn~ment or loan i•ommitment made by rlortRagee with AfortRaRor. ~ agrees to make consiruction la~n ad.:~nces up to the princ~ipal amount of the Note, then AtortR.~gor hereby co~•enants th~t it ~ wiil c•omply with all of the terms, pmcisions and ~•o~~enants of s:~id construction loan agreement or loan commitment, µ~ill diliRendy construct the impm~•ements to t~e buih pursuant to the terms thereof, all of the terms thereof which are in- cor~x~rated herein by mference as though set (orth (ully herein and will permit no defaults to occur thereunder and it a de- fault shall o~cur thereundrr, it s6a11 ronstitute a de(ault under this Mortgage and the Note. ~ 22. At the option ot Tiortga~ec~, A1ort~:~Ror sh:~ll pr~~~ide :~1ortR:i~ee K~ith E~ri~xlic ~•erti(iec! audiiecl ttatements of fhe ~ financial condition n( rlortKaRor. ~ 23. 114ortgaKor representssr±nd warrants that ef a~-or~wration, il is duly orK~nized .ind validly existinR, in ~ood stand- ~ ing under the la«~s of the slate o( its in~~or~~vration, has stix•k outstandin~ w~hic•h has t~een duly and ~.ilidly is,ued, and is qu.+lified to do business and is in Rc»~d standinR in the State uf Florida, ~vith (ull ~~ower and authority to consummate the loan contemplated herehy: and, if a~k~rtnership, it is duly formed and ~•.ilidly existing, and is fully qualifi~d to do business in the State o( Florida: with full ~x~H~er ~nd authorily to consumm:ite the lo:?n contemplated hereby. `l4. In the e~•ent any one or more o( the provisions ~•oniainc~cl in this l~tortgage or in the Note shall for any reason ~ I~e held to tw ~malid, illeRal or unen(orceable in any res~xn•1, xuch inv~lidity, illegality or unentorreablity Rhall. .it thc~ - option of the ~lortgaRee, not affe~•t :iny other pro~~isions of this 1~1ortRaQe, but this T1ortgaRe shall t~e constn~ed as it sui~h in~alid, illega) or unen(orceahle provision had ne~•rr been contained herein or therein. The total interest payable pursuant ~ to the Note or this MortRaRe shsil) not in any one year exceed the hi~hest I:iwful r.~te of interest in the Statc• ot Florida. _ ^ 'L5. The coernants and agreements herein iY~nt.iined ~hall bind ~nd the txneiits and advantaqes shall inure to the n~~~•ti~•e heirs, ezecutors, administrators, successors. and :?.tisi~ns o( the ~x~rtic~s hereto. Whem~•er used, the sinRul:ir numt~r sh.~ll include the ~~lural, the plural the sin7;ul.ir. :~nd the use o( :~ny Kender shall 1?e applicable to all Rendera. All - ~•ovenants, agreements :ind undertakings shall ire joint and several. In the e~~ent additional numt?erec! crrvenants or ~?ara- = Kraphs are (or convenience inseried in this NlortQaRe, suc~h additional c•o~•enants sh.ill I~e mad and gi~~en effect as thou~h ~ tollowing this covenant in con.secutive order. 3- :ti ~ `~j aooK 2~ vacf 32~ s _ - _ . - ~ - 2 _