The URL can be used to link to this page

Home My WebLink About0613 a~~ply such rents, ibau~~ und pru(ils rerwived by it on the indebtednear se~vrc~f hereby in auch onlcr as MorigaRee deter- minea. The riaht lo enter and luke porissc~saion ot the MoHguged Pro~~erty, to mnnuge ar~~! oj~rate Ihc sume, und to i~ollec•1 the rents. iasuea und pmtib theceot. whether by u recei~~er or otherwiee. shull be cumuli,diveyto any other'righl or rem~~ciy homuncle~ or attorded by law, und muy be exemiaed co~cu~renUy themwith o~ independently thereo~: `Mortgugee shnll be linble to Account only for auch renla. iasues and protib actuully received by Mortgagee. 14. It the indebtedneas acrumd heret~y ia now or hereatter turther secured by' chattel mortgages, security interesta. firwncing statements, pledaes, rnntracts of guarunty, aesignments ot leuses, or other securities, or it the Mortgaged Pro- {ierty hereby encumbered consiata ot more than one parcel ot reul property, Mortgagee cru~y at ita option exhuust any one o~ morr of euid securitiea und aecurity bereunder, or such {wrcela ot the security hemunder. either concurmntly or inde- pendently, and in such order ns it mny determine. lb. This 1Nortgage ahall eecure not only exiating indebtednees, but also such tuture advAnces, whether such advances are obligatory or to be mnde at the option ot Mortgagee, os otherwiee. as ace made within twenty 1~) yea~s trom lhe dale hereof, to the same extent as it such tuture advances were made on the date ot the execution of thie Mortguge, but euch ~ secured indebledness shui) not e:ceed t~t any time lhe muYimum princi{wl umount of i plus interest, and any disburee~nenta riwde tor the payment oi taxea, le~•ies, or insurance, on the Mortgaged Property, with { interest on surh diabursemenla. Any such tuture advances, whether obligatory or to t?e mude ut the oE~tion ot lhe A~ortgagee, or otherwiee, muy be made either prior to or after the due date of the Note or any other notes secured by this Mortgage. '1'his Mortgage is given tor the specitic purpose ot securing any nnd all indebtedneas by the Mortgragor to Mortgagee (but in no event stwll the secur~ indebtedneas e:oeed at any time the muximum principnl amount set torlh in this paraBraph) in ~ whatever manner this indebtednesa muy be evidenced or represented, until this Mortgage is ssdiatied ot record. All coven- , ants and agreementa contnined in this Mortgage ah~l! be applict~ble to ~11 further ttdvances mnde by Mortgt~gee to ~ i Mortgagor under this future advance clauee. ~ 16. No delay by Mortgagee in exerciaing any right or remedy he~under. or olhetwise t~ftorded by law, shall operate ; ua a waiver thereof or preclude the e:ereise thereof during the continuance ot any de[ault hereunder. No waiver by Mortgngee of any de(ault ahnll constitute a waiver ot or conaent to auhsequent detaults. No tailure o( Mortgagee to exercise _ any option herein given to accelerate maturity o[ the debt hereby secured, no forbearance by Mortgugee hetore or atter the e:erciae o[ such option a~nd no withdrawal or abandonment of toreclosure proceeding by Mortgagee shal! be ts~ken or con- strued as a waiver of ite riBht to e:ercise such option or to accelerate the maturity oi the debt hereby secured by reason ot any ~xst, present or tuture defuult on the pArt ot 111ortgagor: and, in like manner, the procurement-ot insurance or !he {u~y- ment ot ta:es or other liens or charges by Mortga~gee ahall rwt be taken or construed as a w~iver o( its riRht to :~~•celente the maturity of the debt hereby secured. 17. Without affecting the liability o[ Mortgagor or any other person (e:cept any person expressly relexsed in writing) tor payment of any indebtedness secured hereby or for per(ornwnce of a~y obligation contained herein, and without attect- ing the righta of Mortgagee with reapect lo any eecurity not expresaly released in writing, Mortgagee may, at nny time :~nd from time to time, either before or after the maturity ot said note, nnd without notice or consent: (a) Release any person liable [or payment o( all or any ~~art of the indebtedness or tor ~~er(ormance ot any obligation. (b) Make any agreement extending the time or otherwiae altering the ter~ ot payment of all or any.{~art ef• the indebtednesa, or moditying or waiving any obligation, or subordinating, moditying~or otherwise dealing with the lien or chatge hereof. ' (c) Ezerciae or refnun from eYemising or waive any riRht MortRagee may have_ (d) Accept additional aecurity ot any kind. ~ (e) Release or othemise d~~l with any ntoperiy, real or personal, securing the indebtedneas, includinR all or any ir.~rt o( the Mortgaged Properiy. - 18. Any agreement here~tter made by Mortgagor and Mortgagee pursuant to this mortR~ge sh:ill be su~~erior to the ! rights of the holder o[ any intervening lien or encumbrance. 19. Mortgagor herelry waives all right of homestead exemption, it any, in !he 1liortg:~ged Properiy. , 20. In the event oi condemnation proceedings of the 1liortgaged Property, the award or compensation payable there- ; under is hereby asaigned to and shall be paid to Mortgagee. Mortgagee shall be under no obligation to question the amount ; of any such award or compensation and may accept the same in the amount in which the same shall be paid. In any such condemnation proceedings, 1liortgagee may be represented try counsel selected.by Mortgagee. The pra~eeds ot any award € or compensation so received ahall. at the option ot Mortgagee, either be applied to the prepayment o[ the Note and at the r rate o( interest provided therein, regardless ot the rt+te ot interest payable on the award by the condemning authority, or at ~ the option of Mortgagee, such uward st~nll be paid over to Mortgagor (or restoration of fhe Mortgaged Property. ~ 21. I( Mortgagee, pursuant to a construction loan agreement or loan commitment made by Mortgagee with MortgaRor. ~ agreea to make construction loan advancea up to the principal amount of the Note, then Mortgagor hereby covenAnts that it ~ will romply with all ot the terms, proviaions and covenants o( aaid construction loan agreement or loan commitment, will ~ diligently construct the improvementa to be built pursuant to the te~4ns thereof, all of the terms thereof which are in- ~ corporated hemin by reterence aa though set forth tully he~ein and will permit. no defaulta to occur thereunder and i( a de- ~ fault shall occur thereunder, it shall constitute a default under this Mortgage and the Note. - ~ 22. At the option of Mortgaqee, Mortgagor shnll provide Mortgagee with periodic certi(ied avdited statements of the financial condilion of Morigagor. ~ 23. Mortgagor representa and wam~nta that if a cor~wration, it ia duly organized and validly existing, in good stand- ~ ing under the laws of the state ot 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 of Florida, with full power and authority to consummate the loan contemplated hereby; and, it a partnership, it is duly tormed and validly eYiating, and is fully qualitied to do business in the S1ate ot Florida; with full power and authority to consummate the loan contemplated hereby_ ~ 24. In the event any one or more ot the provisiona contained in t6is 1liortgage or in the Note aha11 for any re:~son I~e held to be invalid, illegal or unenfomeable in nny respect, such invalidity, illegalily or unenfomeablity shall, at the option oi the blortgagee, not a(fect any ot6er provisions of this Mortgage, but this Mortgage shall be construed as if such ~ invalid, illegal or unenforeeable provision had never been contained 6erein or therein. The total interest payable {wrsuant ~ !o the Note or this Mortgage shall not in any one year ezceed the higheat lawful rate o[ intereat in the State of Florida. p Z5. The covennnts and agreementa herein contained shall~bind and the benefits and advantagea shalf inure to t6e res~~live heire, executors, administrators, successora, and assigne of the partiea hereto. Wherever used, the singular 2~; number shall include the plural, the plural lhe singular, and the use ot any gender shall be applicable to all genders. All coverwnta, agreeroents and undertakinga shall be joint and aeveraL In the event additional numbered covenanta or para- ~ grap6s are tor convenience inserted in this Mortgage, auch additional covenanta st~all be read and gieen ettect as though tollowing this covensint in conaecutive order. y' ~ ~ -3- ~ . oo~K 283 ~~~E ~12 ~ ~ . ~