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Home My WebLink About0094 :q~~d>• auch n•nts, i.su.•+ ~~nd ~in~(ita n~-ei~•~x1 by it un thr indebtoflmyK u~•un~ct hi~n•hy in ~u~•h ~~rd~•~ :iti Aturtg~~K~~~ drl~~~ ~nin~~a. 7'he right tu e~ti•r and take (x~~a•YSiun u( thr I~1urt~:~Kt~tl Pn?~m~ty, to n~un~~g~ +ind ~~~~erel~~ ihr x:une, n~c) to ~•uN~•~•t the mnta, i~.gu~~s und pmtita ihemut, whether by u rc~-civer or otherwi~e, shull 1?e ~•umulaUivo to nny oth~•r riRhl or mn~~~.iy ht•munde~ or :~(tordi~l by luw, iind niuy I~e ~•xen•i~ecl rnncurnntly lhemwith or indr~x~nJenU}~ thrn~~t. ~lortguK~r shall t~e liable to uccount only tor such re~ta, isvue~ and pmfita uctuully n~Y~ivcvl hy I~lortguK~~. 14. 1t the i~ideLt~dnc~s su~•un~d hemby ia now ur herrafter (urthe~ s.ru~ec! by chuu~l murtgagc~, secvrity interests, finuncing st:~temcufs, pleclgex, ~~ntrn~•!s of guar.~nly, ;~xvignmrnts of Irasea, or nther ~•urities, or if the hlortgage~c! Yr~~• ~k~rly hrmby encumbcred ronaists ot more thnn one ~k~nrl of nrt~l pm~~erty, Mortgagee mny at its option exhaust any one or mom of sa~id securities und aecurity hemundrr, or such ~K~rrnls of the ~vrity hereunde~, either .~ncurrently or inde- ~?endenily, :ind in such order ua it may determine. 15. This I1lortg:~ge shull sei•ure not only exixtinR indehteclnesv, bul al~ such (uture .~c1~•.inces, N•hether sui•h :?dv~ux•~~c :~re obligatury or to 1?e made ut the option of ~ltortgugce, or otherv?~ise, as nre mnde within twenty (2~) ycars (rom the date hrrcwf, to the same e:tent as it surh futum ad~•unces wem made on the d.de of the rxe~•ution of this A1ortQu~e, but such ~•umd indebleclnrsa shal) not exc~~ ut any time the maximum prinei~~.~i amount o( $ plus interest, nnd anv disbursementa mude (or the payment of taxes, Ieviea, or insur.inc~, an the MorlRugc~cl Yro~~erty, with intemst on such disbursements. Any_such luturn advF?nce~s, ~vhether ol?ligvtury or to I~e mude .d thr option uf the Aiortg:~KEti. or otherwise, muy i?e mude either priur to orafter thc due date of the Note or uny other notes ~•curnd by this 141ort~;uge. 'Chis hlorlg:ige is given tor the s{?eci(ic pur~wsc~ of se~vrinR uny and :il) indebteclness by the ~lorlgaKor to MortgaKe~ lbut in no event shall the sc~vret! indebtedness exceec) at uny lime the ma:imum princi~~:~l amount set forth in this ~~:~nKr.~phl in whatrver nwnner this indebterlness muy lie c~•idemrd or mpn~~ited, until this hlorlg:~ge is titti,(ied of ny~?rd. All ~-oven- ants :~nJ :~grermrnts ~~ntuinecl in this 111ortRaRe shaU t?e :ippli~•able to t~U turther :~dvun~•c~ m:ide Iry 11lortg:~gee to AtortRugor under this tuture advunce elnuse. 1G No deluy hy Aiortgagee in exercising ~ny ri~ht or mmedy hemundrr, or otherwise af(ordEd 1?v law, shull o~~eratc .~s a w.~i.•er thereof or preclude the exerci~e thereo( during the continu:~nce of ..~y def~ult hereunder. No waiver by Morlgugcr ot any defuull atiall constitute ~ w.~iver ot or consent to suiueyuent defaults. No lailure ot 1~1or1Ri~Ree to exerc~se any option herein gi~•en to .tc~•eler.~te muturity of the debt heret?y secured, no (ort~ear<im~e by MorlRagee he(orn or atter the ~•xercise o( such uption and no withdrawal or ahandonment of foreclusum pmc•cti~din~ 6y MortguKee sh:dl I~e tuken or i~n- strued as ~ wniver ot its ri(;ht to eaen~ise such option or to n~reler.ite the maturity of thc debt hemby sc~•umd by mason nl :iny ~k~st, pmsenf or tutum default on the ~u~rt of T1ortKaRor: and, in like manner, the ~?mcurement of insuran~•e ur thc• ~?:~y- ~nent of tuxes or other liens or ~~harRrs by AtortKaK~r shall nol I~e I:~ken or i•onstruecl as :i H~ai~~~•r nf ils right ty a~•.•eler.~tt• the m~turity o( thr debt hereby secured. 17. Withou/ affecting the liability o( !4lortgaKor or any other person (except :iny ~xrson eYpri~asly mleasc~cl in H•ritinR) (or {~:~~~ment ot any indebtcdness ~~ured hereby or for performance ot a~ny obligation c•ont~~ined herrin, and H•ithout a(fec•t- ing the rights of Atortgii~CE' N7~F1 if'3~xY'~ t0 :~~y ~•ori~y not espn~ssly mleasec! in writing, MortQaRer may. at any time and (mm timr to lime, either beforn or after the maturity of siid note, and w~ithout natice or c•onsent: Ia) Release nny ~~ersAn liable tor ~?:~ymeM of all or xny part of the indebtedness or for perfornwnce o( :my obli~ation. (b) Make any agrrement extendin~ the time or otherxise alterink the terms of ~k~yment of all or ~~ny part of the indebtedness, or modi(yinR or ~vai~inQ aoy oblig.jtion, or s~F~orciinatinR, modifyinR or otherw•ise dealinR with the lien or charge hereof. (c) Exercise or refr.iin (rom exercising or wai~•c any right lUortgage~e may h:i~~c. (d1 An~ept additiooal serurit~~ ot any kind. (e) Release or othenvise deal wdh .~~~y ~~n>>?~ny, real or ~~ersonal, se~vrinR the indebtedness, includinR all or any parl o( the \1ortRaged Pro~~erty. 18_ Any aRreemenl hematter m:~de by Mortgagor :~nd 111or1QaK~c Purau.~nt to this mortRaKe shall F?e su~ieri~r to the riRhts ot the holder of any inten~ening licn or encumbrancr. 19. Atortgagor heseby waives ull right of homestead exemption, if any, in the 111ort~:iKi~ YroEmrt~•. f 20. In the e~•ent o( c-ondemnation procredings of the MortgaRed Yro{xrty, the award or c-om~~ens:~tion ~x~yable there- ; under is hereby as4igned to and S}I:III M' ~Rill~ t0 MortgaRee_ 1~lortga~ee shall be under no oblig~tion to question the amount ~ ot any such aw•ard or com~~ensation" and may accept the same in the amount in which the same shall be {~aid. In any such ~•ondemnation pra~eedings, Murtgagee may t?e represented by counsel selec•ted bv biortgagee. The pro~•ceds ot .iny award or com{xn.vation so received shalL at the option of 111ortgagee, either 1~e applied to the prepaymenl of the Note and at the rate o( inlerest pro~~ided therein, mKardless of the r.~te ot interest payable on the aw:~rd by the condemning authority, or at a the option of 11ortR.igee, SUC~I :IK'FI~(I shall lie ~mid o~•er to T1ortRaRor tor mstoration oC the 111ortRaQed Pro~~erty. ~ ~ 21. If 4lortgnqee, pursuant to a construction lo:~n agrea~ment or lu:in commitmenl made by 111ortgagee with htortgaKr,r, ~ aKrees to m:~ke ~vnstruction lain ;id~•ances up to the princip:il amount of the Note, then INortgagor hereby c-o~•enants th:~t it ~ will comply with all of the terms, pro~~isiuns and covenunts ot said construction loan :~qreement or loan commitment. N•ill ~ diligently ironstruct the impro~•ements to be built pursuant to the terms thereot, all of the terms thereof which are in- ~ corEx~ratecl herein by reference us thouRh set forth tully herein and w~ill ~iermit no defaulls to occar thereunder and if a de- ~ fault shall a-cur thereunder, it shall constitute a default under this Mortgage and the Note. a - ~ `l2. At the option nf hlortK:~ger, hiortR:iKor sh:~ll pmvide ~tortR:~Ree with ~~eriodic certitied auditecl st:~tements of Ihe ~ finani•ial condition of Mort~.igor_ . 23. MorlQagor represents and warrants that it a cor~wr~tion, it is duly orRaniud and validly e:istinR, in g«xl stand- ~ inR under ihe IaH~s of the state o( its incor~x>r.ition, h:~s strx•k oufstanding w~hich has Ixen duly :~nd ~•alidly issued, and is qaalitied to do busine.g and is in g~d st:~ndinR in the State of Florici:~, w•ith full ~~ower and authority to consummate thc ~ - ~ lain ~•ontemplateei hereby: and, if a{h-~rtnership, it is duly formecl nnd calidly existing, and is fully qualified to do husiness ~ in the State of Florida: with tull ~wer.and authority to consummate the loan contemplated hemby. ; 'l4. In the e~~ent any one or more o( the procisions ~~nt:~ined in this Alortgage or in the I~1ote shall for any reason I~e held to t~e im•alid, illeKal or unenforceable in any res~x~•t, sa~•h im~alidity, i1leRality or unenforceablity shall, at the oE?tion of the ~tortRaRee, not af(ec~f any other pmvisions of this 4tortgaQe, but this Mortgage shall be construed as i( such ~ in~alid, illeRal or unenforceable pro~~ision had ne~•c~r Fieen c•ontained herein or themin_ The total interect E~ayable pursuant 5 to the Note or this MoHRage shall not in any one year exi~e~d the hiKhe~t lawful rate of interest in the St:?tF• of Florida. ~ ; '?S. The cor•enants and agr~ments herein containc~l sh~ll bind and the benefits and advant:~es sh~ll inurn to thr ~ re~~~•tive heirs, executors, adm~nistrators, successors, and aw4igna ot the p:~rties hereto. Where~~er ~sc~, the sin~;ular ~ numl~er shatl include the plural, the ~dural the sinRular, and the use of any Render sh~ll be a~~plicable to al) genders. All ~ covenants, agreements and undert~kinga shall t~e joint and several. In the e~'ent additiona) numbemcl covenants or ~k~r:~- ~ ~raphs arc~ tor com'enience inserted in this '~1ortRaRe, such additfional ro~enants sha? F?e mad and gi~•en effect s~s thouqh ~ following this co~~enant in consecufi~~e order. • ~ ~ -3- ~ UR u ~ nn~~K ~U4 F,1LC ~ . _ , _ . . . _ - _ _ " . . - F .p jP _+Y ~ ,~-s c~ i~ ~,-~R,~ ...ti.:~~, uC, `,.~R'~c Y fi ~z~r~. s~'