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Home My WebLink About0423 :~~~plv su~~h n~nts, idtiu.~a und protita mccivcd hy it on the indeblednc~ sc~•un~1 her~eby i~ eui•h urier a~s Murixug~r• dr~~•r- minra. The right lo ent~ and 4ake {~osi:~~~ion of the 111ortguged t'ro~xrty, t~~ n?utu~: and o~~erutr thr x:~m~. :?nd to coll~i•t the ~nts~, iasues nnd pro:its ihemot, whrther by a receiver or othenvise, ahaU he ciunulative to nny othe~ right or rem~•dy hereu~der o~ utford~l by lnw, and me+y t~e exen•ised concurrently therewith or independenUy thereot. MortKagce ah:ill be liable to ncrount only for such rents, issues und pro(its a~•tuully re~ri~•ed by Morig+~gee. j ~ 14. it lhe indebtedness ~•ured hereby ia now or hematter (urther secun~d by chnttel mortgi~gcw, ~v~ity inten~sta. 1 finnncing euitementa, pledgea, contracla of Ruarunly, asaiRnments o( lea~~, or other ae~-urities, or i( the Mortgaqed Pm- ; ~xrty hereby encumbered ~•onsisla ot more ttu~n one {~ti•cl o( real property, Mortgngee mvy nt its opliua rxh~ust any on~• or more o[ s~id aecurilies und security hemunder, or such {x~rcels of the aecurity hereunder, either concurmnUy or inde- ~~endently, nnd in such order ns it may dclermine. ~ ? 15. This Mortgage ahull secure not anly existing indebted~~eas, but also such tuture s?dvnnces, whether such ad~•an~rs ~ :ire obligatory or to be made ut the option ot MoHgF~gee, or otherwiae, us are made within twenty (20) years from the daite 4 hereot, to the same extent tue it such tuture ad~•nnc~ca were mi~de on the date ot the exec•ution o( thi~ Morlgage, but su~•h ; ~vred indebtednes~s ahall not exceed at ~ny time the maYimum principnl amount ot E ~ plus interest, and any disbursementa made for the ~myment of t:~xra, levies, or insurnnce, on the Mortgiiged Pro~~crty, with ~ interest on such disburaementa Any such tuture advunces, whether obligs~tory or to 1?e mnde at the option ot the MortK1~K~. or othrrwise, m:iy he made eilher prior to or nfter.the due date of the Note or vny ofher notes secuced by this MorSg.~ge. This Mortga~ge is gi~•en tor the specitic pur~~ose o( st~uring any and ull indebtedness hy lhe MortK:~Kor to rlortg:~ger (but in no event sh:?U lhe se~ured indebtednes~ exceed al .~ny lime the maYimum principal ~~mount set turih in this ~k~r.~Rr.~ph) in w~hntever manner this indebtednesa mny be evidenced or represented, until this Mortgage is satisfied of mcord. All coven- anta and agreementa contained in this 11for1gaRe shall he applicable to all further ndvances made by 111ortgagee to Mortgagor under this future advance clnuse. , 16. No dels~y hy Mortgagee in e:emising any rigl~t or remedy hcreunder, or otherwise aftorded by law, slwll operate = as a waiver thereof or preclude the exercise thereof durinR the continuancc oi siny detault hereunder. No waiver by 1. 1•fortgag~ of any deti~ult ahall constitute a waiver ot or consent to sul~equent detaults_ No tailure of Mortgagee to exercise ~ any option herein gi~~en to accelerate maturity o[ the debl hereby sec•ured, no (orbe:~rance hy Mortgs~gee betore or after thc ~ exercise o( such option ~nd no withdrawal or abandonment of foreclosure procerding by Morlgagee shall be taken or con- strued as a waiver of ita rieht to exercise auch option or to acrelerate the m:iturity of the debt hereby sec•umd by reason o( uny ~mst, pre+ent or future deta~ult on the part of Mortgagor: and, in ~ike fnunner, the procurement of insur.~nce or the ~h~y- ment of tnxes or other liens or charges hy A1ort~a~ee sha0 net be tnken or ~•onslruec! as a w~ai~•er of its right to a~•celer<~te the maturity of the debt hereby secured. , , ~ ' . . 17. Without a([ecting the linbility of I~lortg~gor or any other person (except any pe~aon expressly releaseci in writinRl for payment ot any indebtedness se~ured hereby or tor per(ormance of any ohligation contained herein, and without at(ec•t- ing the rights o( Mortgagee with respec•t to any secvrity not e:pressly released in writing, Mortgagee may, at any time and from time to time, either betore or after the maturity of said note, and without notice or consent: _ la) Release any ~~erson liable tor ~yment of all or nny part ot the indebtctiiness or tor performance o( any obli~ation_ (b) D'Iake any agreement extending the time or othen+~ise altering the terms of {~ayment of all or any part ot the = indebtedness, or modifying or waiving any obligation, or suhordinating, modifying or otherwise dealing with the lien or ~ charlce hereo(. k (c) Exercise or retrain (mm exereising or w~~i~•e any right MortRaRc~ may ht?ve_ (d) Accept additional security ot nny kind. 7 'i (e) Release or othemise deal w•ith~any pro~~erty, real or personal, securing the indebtedness, inrludinR alf or any part G ot the Mortgaged Property. I 18. Any agreement herea(ter made by Mortgagor and MortgaRee pursuant to this mortg:~ge shall be e~u~~erior to the rights of the holder of any inten~ening lien or encumbrance. ; ~ 19. 141ortgagor hereby waives all right o( homestead exemption, it any, in the Mortgaged Property. ~ Z0. In the event of condemn:~tion proceedings oi the Mortgaged Property, the award ur compens:~tion payable there- under is hereby assigned to and shall be paid to Mortgagee. Mortgagee shaU be under no obligation to question the amount ~ of any such a~sard or compensation ~?nd may accept fhe same in the amount in which the same shall be paid. I~ any such condemnation proceedings, Aiortgagee may be represented Fry counsel selected by Mortgagee. The proceeds of any awarcl ~ or compensation so received shall, at the .option of Mortgagee, either be applied to the prepayment of the Note and at the rate of interest pro~~ided therein, mgardless of the mte ot interest payable on the award by the condemning authority, or at ~ the option of Mortgagee, such award shall lie paid over to Mortgagor for restoration of the Mortgaged Property_ 21_ Ii Aiortgagee, pursuant to a construction loan agreement or loan commitment made by Mortgagee with Mortgagor. agrees to make construction loan adrances up to the princi~k~l Amount of the Note, then Mortgagor hereby co~•ennnts that it will comply with all of the terms, provisions and covenants of said construction loan :~greement or loan cc~mmitment, will diliqently construct the improvements to be built pursuant to the terms thereof, all of the terms thereof which arn in- cor~~orated herein by re(ernm~e ax though set torth luUy herein and will permit no defaults to occar thereunder and if a de- (ault shall «•cur thereunder, it shall constitute a detault under this Mortgage and the Note. 22_ At the option of A'fortqagee, Mortgagor shall provide Mortgagee with periodic certitied audited statements of the financial condition ot Mortqs~gor. ~ 23. Mortgagor represents and warrants that if a c-orporation, it is duly organized and validly ezisting, in ~good stand- ing undet the lav?•s of the state of its incorporation, has stock outstanding which has been duly and validly issued, and is ~ qualitied to do business and is in good standing in the State ot Florida, with full power and authority to consummate the ~ loun contemplated hemby: and, i( a partnecship, it is duly (ormed and validly eaisting, and is fully qualified to do husiness in the State ot Florida; with (ul) power and authority to consummate the loan contemplated hereby. 24_ In the event any one or more of the pro~-iaions contained in this Mortgage or in the Note shall for any reason ~ I.e held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unentorceablity shall, at the ~ option of the Mortgagee, not atfect any other provisions of this Mortgage, but this Mortgage shall be construed as it such ~ im~alid, illegal or unenforreable provision had never been contained herein or therein. The total intereat payable pursuant ~ to the Note or this Mortgage shall not in any one year exceed the highest lawtul rate of interest in the Stale of Florida. ~ s 2S. The covenants and agreements herein contained ~hall bind and the benefits and advantages aha!1 inurn to the ~3 ~ res~~ective heirs, executors, adminiatrators, successors, and assigns o( the parties hereto. Wherever used, the aingular ~ number shall include the plural, the plural the singular, and the use of any gender shail be applicable to all genders. All $ covenante, agreements and underts~kinga ahall be joint and several. In the e~~enl additiona) numbered co~•enanta or para- ~ ~ graphs are for con~~enience inserted in this AZortgage, such additional co~•enants shall be read and given effect as though ~ follow•ing this covenant in consecutive order. ~ ~ Q s~~x ~81 ~2~2 - - ~ . ~