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Home My WebLink About0438 ;~pply ru~•h mnts, i:~~cu~»z :~nd prutita ~c~•eivet) by it on Ihe indri?teclneas se~•urecl bemby in sucb brdrr ~~a MortK:~~;e~e~ det~~r minra. 7'he nght to enter and takP ~w.xw~aion of the I~1c,rtR~+B~ ~'roi~'tlY. to rn:inage and u~xrate Ih~ ~:une, und to c~ll.•~•t the rents, iavues und protita then~ot, whether hy t~ rereiver o~ otherwiae, ah+1U t~e cumulutivo lo any Mher right ur rem~~cly hereunde~ or ai(torded by law, and tnay t~e exen•ie~d concurrently therewith or inde~~endenUy thenv?t. Alortg:~gee xhull be liable to a~YOUnt only tor such renta, iasues und profits actuully receiveci by 111o~tgagre. 14. It the indebtednesa xecucc~cl hereby is now or hernatter turthe~ secured hy chtittel mortg.~g~y, s~ti•urity inte~r~ts. tinnncing alntements, pledgea, rontmMa uf gu~ninty, uasignments of le.~sex, or olhet aei~urities, or it ihe Mortgagcd Pn~- ~~erty hereby encumbered rnnsiste of mure Ihan oue }utrcrl o( n~ai propeHy, Mortgagce muy at its option exhuual nny one or more ot euud securitieu und aecurity hemunder, or such ~rcela o~ ihe ~•~uity hereunder, either concurmnUy or inde- {~endently, nnd in such orde~ ua it may determine. 15. This Mortg.~ge ahiill xecum not only existin~ indebtednese~ but nlso such tuture ud~~unces, whrther sui•h advuncex ure obligatory or to be made At the option ot Mortgngee, or otherwise, as r~re mc+de within twenly (20) yenra from the date hereof, to the same e:ten! .~s it such future advances were mude on the daite o( the executiun o( ihis MortRaRe, but such ~~ured indchtedness ahull not exceed nt any time the maximum principal amount ot: plus intereat, nnd a~ny disbursementa tnncle tor the payment ot laxes, levies, or insur~nce, on the Aiortgaged Property, with interest on such disbursemenla. Any such future udvnnces, whether obligatory or to be made ~trl~a pption ot the Mortg:~fic~•. or otherwise, muy be mucle either prior to or atter the due dnte of the Note ot any other notes R~drld by lhia Mortgage. This Mortgage is given tor the apee•itic purpose ot securing any t~nd ull indebtedness by the Alorigagor to Mortg:~gee Ihut in no event shall the secured indebtedne~ exceed ~t a~ny time ihe muximu?~~ ~,~ii?c;~i s;:3 ;~rth in tltis ;zar.~rs,rh! in ~+hntever tnanner this indebtednesa may 1?e evidenced or represented, until this Morig~ge is atiatistied of rea-ord. AU co~•en- :ints ar~ agreements contained in this I~~origiiRe shull he .~p~~li~•able to aU turther udvan~rs mnde by MoHgagee to 1lortg,~gor under this tuturn advance clnuse. lli. No delay hy Mortgagee in exemiaing ~ny right or remedy hemunder, or otherwise ut(urded by law, shnll operate c?s n wai~•er thereof or preciude the exercise thereof during the continuunce ot any default hernunder, No waiver by htortgagee ot uny default shal) constitute n waiver of or consent to subsequent def~ults. IVo f~ilure ot Mortgngee to eYCmise any option herein given to accelerate maturity of the debt hereby serured, no forbearance by Mortgagre before o~r atter the exea•ise ot such option and no withdrawal or abandonment of toreclosure proceediog by Morig~igee shall be taken or con- strued as a waiver ot ita right to exercise such option or to Hccelente the m:~turily of the debt herehy secured by reason o( any pa~t, present or future default on the ~k~rt of 1Nortgfigor, and, in like m:~nner, the pra•urnment ot insur<+nc-e ~~r Ihe ~~:ry- ment ot taYes or other liens or c•h:~rges by 111ortgaRee shall not tx taken or constn~ed as a w.~iver of its right to .~iti•el~rnte ~ the irwturity ot the debt hereby securcd. 17, Without aitecting ihe liability of Mottgagor or ~ny other person (except any ~~erson expressly mleasecf in writing) [or payment oi any indebtednea-s secured hereby or for periormance of any obliRation contained herein, and without a(tert- ing the rights of I14ortgagee v~ith respect to any security not exptessly rele:~sed in wtiting, Mort~aRee may, at any time and from time to time, either betore or aRer the maturity ot said note, r~nd without noGce or consent: (a) Release nny person liable tor {myment of ull ot uny~ ~k~H of the indebtedness or [or perforn~nce ot any obliRation. (b) Mnke any agreement extending the time ot othemise altering lhe terms of payment of all o= any {~art of the . indebtedness, or modifying or waiving any obtigation, or sutwrdinafing, mocfifvirtg or otherwise dealing +k•ith the lien or charge hereot. (c) Exercise or refrain from exemising or w,~ive any right 111orl~s~ger may h:rve. (d) Accept additional security o( any kind. . (e) Rele:?se or otherv?~ise deal with any pro~~erty, real or ~~ecsonal, securing the indebtedness, including all or any ~x~rt ot the Mortgaged Property_ 18. Any agreement hereatter made by I~lortgagor ~nd MortgaRee purs?u~nt to this mortg:~ge shal) be su~?erior to the rights ot the holder of any inten•ening lien o? encumbrance. 19. Mortgagor hereby wai~•es alI right of homcwtead exemption, if any, in the Mort~agec! Pro~~erty. 20. In the event ot condemnation proceedings of the Mortgaged Property, the s~ward or compensation payable there- under is hereby assigned to and shait t?e paid to Mortgagee, Mortgagee shall be under no obligntion to question the amount of any such award or compensation and may accept the same in the amount in which the same sh:+ll be {u~id. in any such condemnation proceedings, Mortgagee 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 provided therein, reg~rdless of the rate o( internst payaMe on the award by the condemning authority, or at the option of Mortgagee, such award shall t?e paid over to Mortgagor for restoration of the Mortgaged Property. 21. If ~tortgagee, pursuant to a c•onstruction loan agreement or loan commitment made by Mortgagee with Mortgagor, agrees to mt~ke construction loan adrances up to the princi~~l amount of the Note, then T4ortgagor hereby covenants that it w~ill comply with all ot the terms, provisions and covenants of ss~id construction loan agreement or loan commitment, wili diligendy construct the improvemenis to be built pursuant to the terma theteof, all of the terms thereot which are in- cor~~orated herein by reference as though set forth ful)y herein and wiU ~~ermit no defaults to occur themunder ~nd if a de- fault shall occur thereunder, it ahap constitute a default under this Mortgaqe and the Note_ 22. At the option ot MortgaRee, ~iortg:~gor sh:ill provide hlortgaRee with periodic certitied audited atatements of the (inancial condition ot Mortgagor. 23. Mortgagor represents and warrani~ tftiat if a cor~x~~ation, it is duly orRanized and v~lidly existing, in good stand- ing under the laws of the state of its incorporation, has stock outstanding which has been duly and ~•:didly isgued, and is • qu&lified to do business and ia in good standing in the State of Florida, with fuN power and avthority to consummate the loan contemplated hereby: and, it r~ partnetship, i! is duly tormed and validly existing, and is tully quali(ied to do business in the State of Florida: with (ull ~wwer and authority to cnnsummate the loan contemplated hereby_ 24. In the event any one or more ot the provisions contained in this Mortgage or in the Note shall for any reason . F?e held to be invalid, illegal or unen(orreable in any respect, such im~alidity, illeRality or unentorceablity shall, at the option of the Morig.~Ree, not atfcrt any other provisions of this Mortgage, but thia Mortgage ahail be construed as i~ such im~alid, il(egal or unenforceabte provision Iwd never been contained herein or therein. The total interest payable pursuant to the Note or this biortgaRe sh.dl nut in any one year exct~ed the hiRhest t~wful rate of interest in the State of Florida. 25. The covenants and ugreemenis herein contained shall bind and the bene(its and advantages shall inum to lhe res~•ti~~e heirs, executors, administratora, succes.gors, and assiqns of the ~rties. hereto. V1,'herever uaed, the sinRUlar numl~er stwll include the plural, the plural the sinRular, and the use ot any Kender shall t?e applicnble to a!1 genders. Atl covenants, agreementa and undertakinga ahail 1?e joint and several. Iq the e~•ent additional nambered rnvenants or parn- grapha are (or convenience inaerted in this MorfRage, such additional co~-enants shall be read and given e(fect as thouRh following thia co~•enant in ronsecuti~•e order. • . ao~c ~81 PACE ~37 . -z.