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Home My WebLink About0607 apply auch mnta, issu~~r und protib received by it on ihe indc+btedness aecurrd hereby in such onler us Mortgugee deter- minea The right to enter uod tnke {wssc~aion ot the MoHgnged Pro~,erty, to mnn:ige i~nd operdte tbe s~ne. and to collect the renb, iasues and pmtib thereof. whether by a receiver or othetwise, ahall be cumulntive to aay Mhtr righl oi remecly hereunder o~ utforded by Is?w. and may be e:en•ised concuRently therewith or indepe~dently thereot. Mortgugee'sh!?11 be linble to accouat only tot eucb rents. ixsues und profita uctually received by Mortgagee. 14. It the indebtedneas secured hereby is now or hereAfter further secured by chattel mortgugea, security interexts, tinancing atatementa, pledges, contracta ot guaranty, assignmenta ot leases, or olher eecuritiea, os ii !he Mortgaged Pro- periy hereby encumbered conaiata o( more itwn one ~~un~el ot reul property, Morigagee may at ita option e:haust any one or more ot s~id securitiea ~nd security'hereunder, or such parcels~o[ the security hereunder, either concurrently or inde- ~~endently, and in such order na it may determine. 15. This Mortgage shall secure not only exiating indebtedneas. but also such future advancea, whethe~ such advancea are obligatory or to be made at the option ot Mortgagee, or otherwiee, as are made within twenty (20) years trom the date hereof. to the same extent as it such tuture advancea ~vere made on the date of the execution of thia Mortqage, but such . secvred indebtedness ahatl not exceed at any time the maximum principal a~mount of = ptua interest, and any dieburaementa made tor the puyment of tnxea, levies. or insurnnce, on the Morigpged Pwperty, with interest on such disbursements. Any such [utuce udvances, whether obligatory or to be made nt the option o( the A4orfg~gee, or otherwise, awy be made either prior to or atter the due date of the Note or any other notes secured by this Mortgage. This Mortgage is ~tiven for the speci(ic purpo~e of securing any and al! indeblednes4 by the Morigagor to Mortgagee (but in no event shxll the secured indebtedneas exceed at nny time the muximum principal nmount set forth in this {~aragra+ph) in whatever manner thie indebtedness may be evidenced or represented, until this Mortgage is satistied ot record. All coven- anta ~.nd ugreements contained in this Mortgage shal! be npplicable to all ~lurther adva~ces mnde by Mortgagee to 1~lortgagor under thie tuture advance clau9e. 16. No delay by Mortgagee in exemising any right or remedy hereunder, or otherwise aftorded by law, shall operate as n waiver thereot or preclude the e:ercise thereot during the contimi~nc~e ot uny default hereunder. No waiver by Mortgagee oi any defuull shall constitute a waiver ot or consent to sulisequent detaults. No tailure oi Mortgagee lo exercise any option herein given to accelerate maturity ot the debt hereby secured, no torbearance by Mortgagee before o~ atter the exerciae of such option and no withdre?wal or ubandonment of foreciosure pro~~eeding by Mortgagee shall be taken or con- strued as a waiver of ita riBht to exemiae such option or to accPlernte the maturity of the debt hereby secured by rnason o( a~ny {wst, present or tuture detault on the part of Mortgngor; und, in like mnnner, ihe procurement of insurance or the ~~y- ment of tuzes or other liens or chArges by Mortgagee shnll not be taken or construed as a wniver ot its righl to accelerate the maturity ot the debt 6ereby secured. 1?. Without a([ecting the liabilily of Mottgugor or any other person (except any person e:pressly teleased in writing) tor payment ot any indebtednesa secured heteby or for perfornnance ot any obligation contained herein, and without a(iect- ing the rights of Iliortgagee with respect to any security not expreesly released in writing, Mortgagee may, at any time and irom time to time, either.betore or after the maturity of said note, and without nolice or consent: (a) Release any ~~erson liable for payment o[ all or any part ot the ind~btedness or (or Rectaruiaqc~ of any Qbligation. (b) Make any agreement e:tending the time or othemise altering the ferms of payment of aIl'or any part ot the indebtednesa, or modifying or waiving any obligation, or subordinating, moditying' or ot6erwie~ dealing with ihe lien or c}wrge heteof. (c) EYercise or refrain trom exetcising or waive any right htort~agee may have. . (d) Accept additional security ot any kind. !e) Release or othemise deal with any properiy, m~l or personal, securing the indebtedness, including all or any part of the Mortgaged Property_ 18. Any agreement hereafter made by Mortgagor and Mortgagee pu~suant to this mortgage shall be superior to the rights of the holder of any intetvening lien or encumbrance: ~ ' 19. Mortgagor hereby waives all right ot homestead exemption, if nny, in the Mortgaged Property. i Z0. In the event of condemnation proceedings of the riortgaged Property, the award or compensation payable there- s under is hereby assigned to and shall be paid to Mortgagee. Mortgagee shall be under no obligation'to question the amount t of any such awar~ or compensation and may accept the same in the amount in which the same shall be paid. In any such ~ condemnation proceedings, Mortgagee may be represented by counsel selected by MortRagee. The proceeds of any awarcl E ~ or compensation ao received shall, at the option of Mortgagee, either be applied to t6e prepayment of the Note and at t6e ~ rate of interest provided therein, regardless ot the rate of interest payable on the uward by the condemning authority, or at ~ the option ot Mortgagee, such award shall be paid over to Mortgagor for restoration oi the Mortgaged Property. ~ 21. If 141ortgagee, pursuant to a constraction loan agreement or loan commitment made by Mortgagee with Mortgagor, ~ agreea to tnake construction loan ad~•ances up to the principal amount ot the Note, then Mortgagor hereby covenants that it ~ will comply with all of the terms, provisions and covenants of aaid cot?s~~yetion loan agreement or loan commitment, wiU ~ diligenUy constnict the improvements to be built pursuant to the ferma ttiereof, all of the terms thereof which are in- ~ corporated hernin by refernnce as though set iorth tully herein and will permit no defaulta to occur thereunder and if a de- _ fault ahall occur thereunder, it ahall constitute a default under this Mortgage and the Note. . ~ . i 22. At the option of Mortgagee, Mortgagor ahall provide Mortgagee with periodic certified audited statements ot the t ~ tinancial condition of Mortgagor. s' k; ~ ~ 23_ Mortgagor rnpresents and warrants that if a corpor~tion, it ie duly organized and validly e:isting, in good stand- ~ ing under the laws of the.state of its incorporation, has stock outstanding which }ws been duly and validly issaed, and is qualitied to do business and is in good standing in the State of Florida, with tull power and authority to consummate the q loan contemplated hereby; and, i( a partnership, it is duly tormed and validly existing, and is iully qualitied to do busineas ~ in the Stafe o( Florida; with (ull power and authority to consummate the loan contemplated hereby. i z= " 24_ In the event any one or more ot t6e provisions contained in thie Mortgage or in the Note shall for any reason ~ ~ ~ t~e held to be invalid, illegal or unentorceable in any respect, such invalidity, illegality or unenfomeablity ahall, at the ~ option o( the Mortgagee, not at(ect any other provisions ot lhis Morigage, but thie Mortgage aha11 be construed as it such % im:~lid, illegal or unentorceable provision had never been contained herein or therein. The total interest payable putsuant f ~ to the Note or this Mortgage ahall not in any one year excred the highest lawful rate of interest in the State ot Florida. ~ ~ 25. The covenanla and agreementa herein contained shall bind and the benetita and advantages ahall inure to the ~ ` respective heirs, e:ecutorP, administratore, successors, and assigns of the parties hereto. Wherever ueed, the aingular ~ ~ number shall include the plural, the plural the aingular, and the use ot any gender ahall be applicable to all gendeis. All ~ ~ covenante, agreemenls and undertal~inga shall be joint and several. In the event additional numbered covenanta or para- ~ graphs ate tor comenience inserted in thia Mortgage, such additional co~~erusnta sha11 be read and given effect aa though ~ ~ following this co~~enant in consecutive order. £ c~ } ~ j ~ - sooK 2~~ fac~ ~~s ` s ~ ~ ~ - ~