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Home My WebLink About0444 :~~,~~ly such mn1s, i:~~uex :~nd prc~fits receivcd by it on the indehtednc~ ~•un~! hereby..in auch order :a Mortgugre d~•ter- min~~. The right tu rntrr +~nd tnke ~x~~xaiun ot the ]1lortti~}~ecl P~{x~rty, to mi~nage and o~?an~te the s:une, und to colltv/ the rents, issues t~nd profits the~eot, whether by a re~~eive~ or otherwiee, ahaU he cumulutive to any othc~ right or mmi~cly hereunder or uttunle~! by luw, and may be exrn•iaed con~•urmnUy therewith or inde{~rndenUy therc~?t. Mo~tg.~gee shi~ll I~e liable to nccount only tor .uch rentr, issuea und prvfite uctuuliy rec~eived by rtortgug~r. 14. It the indebtednesa secure~l hereby ia now or hereafter furthrr secumd by ch:Ntel ~nortgages, ~•urily intereats, (inancing etalements, pledgea, conttaci~ of guAranty, ussiRnmenl» of leasea, or other securities, or if the 111ortgnged Pro- ~~erty hereby oncumbered consista ot mote ttu?n one ~x~n~el ot nul proNeriy, Murigetge~ inuy ut it,~ optiun NYhr.u~l +~ny o~?e or more ot at~id securities und eecurity hereunder, or such {xircels o( lhe seeurity hemunder, either c•onc•urrently or inde- {~endently, and in surh order aa it muy detennine. 15. This Mortgt~ge ahnli secure not only existing indebtedness, but ulso sui•h future udvAn~rs, whether such udruncex nce obligatory or to be made at the option ot Mortgngee, or othcrwiso, as are made wilhin twenty (20) yeata from the dntc hereot, to the same extent as if auch tutum ndvnnces wem made on the date of the.enocutioA o~ t6is 11lorigaRe, but such secumd indebtedness ahull not excred at Any time the ma~xiinum principul amount ot r plus intereat, und any diabursementa mude for the ~ymeM ot tnxes, levies, or insumnce, on the Mortgaged Property, with interest on such diabursements. Any such tulure ndrances, whether obligatory•or to'be made!?/ the option ot ihe Mortg:~gee. or otherwise, may he made either prior to or after the due date o[ the Note or any other notes secured by this MortgaKe. This Mortg+~ge ia given (or the s~~ecific pur~wse ot securing any and ull indebtednesa by the Mortgagor to MortgaRee Ihut in no event stutll the secured indebtednesc ex~reci at nny time the nu~ximum principul amount set forth in this ~~niKr.~ph) in Hhatever msinner this indebtedneas mny be evidenced or represented, until thie Mortgage is sntistied of rcrord. All ~-o~•en- nnts and agreementa rnntained in this Mortga~ge shall he »~~{~lii~nf~le to all turthec ad~ances made by Mortg:~gee to :4tortgagor under this future advance clause. 16. No delay by Mortgagee in e:ercising nny right or remedy hereunder, or othemise atforded by Inw, shall operate .is a wai~•er thereof or preclude the exen•ise thereof durinR the continuance ot :~ny def~ult hereunder. No waiver by Mortgagee of any default shnll constitute a waiver of or consent to subsequent defaults. No (ailure ot Mortgagee to exercise any option herein given to accelemte maturity of lhe debt hereby se~vred, no forbean~nce by Mortga~gee betore or atter the exercise of such option i~nd no withdrawnl or ahandonment of foreclasure proreeding by 1Hortgagee sha~ll be taken or con- strued as a waiver of ita tight to exerrise 9uch option or to accelerate the m:~turity oi the debt hemby secured b,y rnason of anv ~~st, present or future default on the part of AtortKagor, and, in like manner, the procurement ot insur+nce or the ~xiy- ment of taxes or other liens or cha~ges by Mortgugee shall not I~e t;~ken or construeci as a w•.~iver of its ri~ht to a~•~rler.ite the maturity of the debt hernby sec•ured. 17. Without af(ecting the liability of Mortgagor or nny other persan (except any ~~erson eYpressly released in writinR) tor payment ot any indebtedness secured hereby or (or performance o( any obligntion contained herein, and without a(tect- ing the righta of Mortgagee with respec•t to any security not expressly_ released in writing, MortgaRee may, at :~ny time ~nd fmm time to time, either be[ore or a[ter the maturity of s.iid note, and without notice or consent: (a) Release any ~~erson liable tor ~~yment ot all or any ~k~rt o~the indebtedness or for ~mr(ormance o( any obliRation. Ib) Make any agreement e:tending the time or otherwise altering the terms of ~~yment of all or any ~~art of the indebtednesa, or moditying or waiving any obligation, or suhordinating, modifying or otherwise dealing with the lien or charge hereof. • (c) E:emiae or retrain trom eYemiaing or wai~~e ~ny right h1orlR:~gee may hare. (d) Accept additional security of any kind. (e) Release or otherwise deal with any pro~~erty, real or pejsonal, securing the indebtedness, including all or any ~k~rt of the Mortgaged Properiy. ~ _ 18. Any agreement hema(ter m~de by 114ortgagor and MortgaRee purauant to this mortgaQe shall be su~~erior to the ! riqhts ot the holder of any intervening lien or encumhrance. ~ 19. 1liortgagor hereby wai~•es all right of homestead exemption, if any, in the I~tortg.~Recf Property. 20. In the event of condemnation proreedings of the l~iortgaged Property, the award or compensation payable there- under is hereby assigned to and shall I~e paid to 1ltortgagee. Mortgagee shall be under no obligation to question the amount of any such award or compensation and may accept the same in lhe amount in which the same shall be paid. In any such ~ condemnation proceedings, Mortgagee may 6e represented by counsel selected by Alortgagee. The proceeds of any award or compens~tion so received shall, at the option ot Mortgagee, either be applied td the prepayment of the Note and at the ~ rate o( interest provided thernin, mgardless of the rate ot interest payable on the award by the condemning authority, or al - ~ the option of~l4lortg:~gee, such award shall be ~~aid over to Mortgpgor for restor.~tion of the Mortgnged Pmperty. 21. If Alortgaqee, pursuant to a c•onstruction lo:in ~greement or loan commitment made by Aiortgagge W~ith Mortgagor, aRree.g to make construction loan adv~~nces up to the principal amount of the Note, then 141ortgagor hereby covenants that it w~ill comply wiih aiI of ihe ierms, ~~ru~•isions ~nd covenants of said construMion loan agreement or loan commitment, will diliRently construct the improvements to be built pursuant to the terms thereof, all of the terms thereof which are in- corporated herein by reference as though set forlh fully hemin and v+~ll permit no defaulta to occur thereunder and ii a de- (ault sFuwll occur ihereunder, it ahall constitute a default under this Alorlgage and the Note. ~ 22. At the option of rlortgagec, A4ortgagor sh:dl pmvide Tlortgagee with periodic certi(ied audited .statements of the ~ financial condition ot Mortgagor. ~ 23. Mortgugor represents and warrants that if a corpor.ition, it is duly organized and validly existing, in good atand- ing under the laws o( the state o( its incor~~oration, has stock outstanding which has been duly and ~~alidly issued, and is ~ quali(ied to do business and is in good atanding in the State of Florida, with (uU power and aothority to consummate the ~ loan contemplated hereby; and, if a ~~rtnership, it is duly forrr?ed and validly existing, and is fuUy qualitied to do business - in the State of F lorida: with tull povrer and authority to consummate ihe loan contemplated hereby. 24. In the event any one or more of the provisions contnined in lhis Mortgage or in the Note shall for any reason be held to t?e invalid, iUegal or unenforceable in any mupect, such invalidity, illeqality or unenforceablity shall, at the ~ option of the Mortgugee, not at(ect any other provisions o( this MortgaRe, but this Mortqage ahall be conatrued as it such ~ im•alid, illegal or unentorceable provision had ne~•er been contained herein or therein. The total interest payable pursuant to the Note or this 1~tortgaRe shall not in any one ye.ir exceed the highest lawful rate of internst in the State of Florida. ~ ~ 25. The rnvenanta and agreements herein contained shall bind and the benetits and ad~~antages shall inure to the res~m~-tive heirs, eYecutors, administratora, successors, ~nd assigns of the parties hemto. Wherever used, the singular m~ ~ numt?er shall include the plural, the plural the singular, nnd the use of any Render shall be applicable to ali qenders. All ~ covenants, egreementa and undertakinga shall he joint and several. tn the e~•ent additional numbered covenants or parn- ~ grap6a are tor comenience inserted in this MortRage, such additional co~~enants shall be rnad and given effect a• though ~ following this co~•enant in consecuti~~e order. ~ ~ -3- ~ s~oK ~acE ~t~3 ~ ~ ,Y - - - _ _ _ _