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Home My WebLink About0115 a~,~~ly Ku~•h mot+~ iayi~,~~;.+ ~y?d prot~ta mceived 1?y it on ihe indebt~Nln~~4 :uK•un~f hemhy in xui•h u: i~r as I~ic~rttiu~;~~ d~~t.~r minrs. '1'he ria~, ~Q ~ and ~uke pi~asetluio~yul the llluriK:~K~f Pn,~x•rty, tu mi~n:~~;e :~nd ~~~x~r.it~• the ~:~~ne. and to i•ullc~•t thr rnnt~, iecsues un~~utita themoT, wh~ther t?y u nx~river o~ uthan+~iae, sh:~ll i?r cumulati~~e tu a~ny other riKht o~ n•~n~~ciy hemunder u~ utturded by (uw, and rtu~y 1?e ~~xrmi~ud cun~•urnntly themNith o~ inde~xodently th~~n~.~L MortKuK.~c• ~chall Ix~ lia~blc tu ui•~~ount unly fo~ su~•h m~ts, iyaucs t~nd profits a~i•tu.~lly receiv~d by AlurlguK~~. 14. It the indebt~Kine,s ~c~•und hemby is now or hereutter (urther s~r~urecl by chnttel murtgugcw, u~•urity intereats, (innncing statements, pledgei+, contracta of Ruan~nty, us~ikumenis of le:?~~x, or other secu~ities. o~ if the Aiurtgtiged Pro- ~?erty hereby encumtxred consisls o! mure than one ~wn~el ot ne~l ~~ru{~etty, Mortgagee may at its option exhuuat uny one or more ot s:?id seruritic~ and s~~•urity hemunder, or such ~wnYls u( the ~v~ity hereunder, either ~•om•urnnUv or inde- Fxndently, tuid in auch order ua it mi~y detern~ine. l5. This Mortgage sh.df secure not only existinR indebtedness, but nlso such future ud~a~nces, whether sui•h :~d~~ancc~s nre ot?ligatury or to I~e made at the o~~tion ot Mortgi?¢e~, or otherwise, us are mude within twenty (20) yrx~s (rom the datc hereot, to the same extent us it such futurn advamti~ wern made on !he d.~le of the exec•ution o( this Mortgage, but such sc~vmd indebtedne~ sFwll not exceed ut z~ny time the muYimum princi~H~l umuunt of S N/A . plua inferest, and any disbursements mude tor the ~~yment ot t:ixes, levies, ar insun?nce, on the r1urtgaKrcl Yro{xrty, with interest on such disbursements. Any such futurn ad~•.~n~rs, whether ~b1iR.itory or to I~e mnde ut the option of the hlortKaKee. or otherwise, ms~y I~e mude either prior to o~ aHer the dur dute u( the Note or uny other notes secured by this 1liortgage. This Atortgaige is given tor the s~x~•itic• pur~~osc of sc~~urinR any and ull indebtcYlness by the MortgaRor to MorlRugre Ibut in no e~~ent shull the secured indebtedness exceed :~t any time the maximum princi~>al a~inount set torth in this ~?ar.?Kr.~ph) in ~~•hate~rr manner this indebtetln~ss m:~y be evidemtid or mpresented, until this 1~lortgage is sntis(ied o( rc~-ord. All coven- :~nts and agmements contained in this Mortguge sh:~ll be r.ppli~•uhle to :ill further advances m.ide t~y Atortgngee to Atortg.igor under this tuture advnm~e clause. ~ 16. No deluy by 1ltortg:~gee in exemising any right or remedy hereunder, or othem•ise :d(orded by la~w, shall o~xrate :~s a wni~•er thereof or preclude the exen•ise thereof during the continuance of any default henunder. No wUi~•er by Mortgugee of any default shnll c-onatitate a waiver ot or consent to sui~sequent defaults. No tailare of MoHgagee to exercisc any option herein given to nccelerate maturity of the debt hereby r+c~•umd, no (orbear.in~•e by Morig:igee Ix(ore or after the exen•ise oi such uption and no withdruwal or atu~ndonment o( foreclosure pro~~~ling by hlorlRagee shall be t:~ken or con- strued tts a w:~iver of its right to exercise such option or to ncceler.~te the nk?turity of lhe debt hernl?y ~•ured by re:~~on ot any ~x?st, ~~rn.ent or future default on the ~h~rt ot TlortguKor: :~nd, in tike m:mner, the pra•umment ot insur:~ni-e or the ~k~y- ment of taxes or other liens or charges by MortRaKee shaU not I~e taken or construed .is a wai~~er of its ri~ht to ai•celer:~te the maturity o( the debt hemby secured. ~ ' 17. N'ithout at[ecting fhe liability of Aiorig.~gor or any other {~erson lexcept any {x~rson rxpmssly releusecl in w•ritinR) (or payment o( any indebtedness secured hereby or for ~~ertornu~nce of any obli~ation crntained herein, nnd without :~(fec•t- inR the rights of AlortgaRee with res~xti~t to ainy ~~urity not expresgly releaseci in writing, Mort~a~~ee mny, at any time and from time to time, either I~efore or atfer the maturity of said note, :~nd without notice or consent: (a) Release any ~~erson 1i.ible for {wyment o( all or any ~mrt ot the indebtedness or for ~~rformam~e ot :~ny obligation. ~ ~b) Make any agmement e:tending tht time or otherwise altering thc terms of ~?ayment of all or any paM ot the indebtedness, or modityin'g or vraiving any. obliR.~tion, or suhonlin.ding, modifying or othetw'ise deuling v?•ith the lien or charge hereoL . (rj Exercise or refr.~in (mm exemising or v~•aive :~ny riRht r1or1~:~Ree may ha~~c_ (d) Aecept additional securit~• of any kind. (e) Rele.ise or othenvise deal with any proi~erty, mal or~~ersonal, ~vring the indehtedness, includinQ all or :+ny ~~:~rt of the Mortgaged Properly. ~ ~ 18. Any agreement hernafter madc by rtortgagor and A1ort~aKee pursuxnt to this mortRaKe shall t?e su~~erior to the ~ riRhts of the holder of :~ny inter~~ening lier? or encumbranre. 19. 1~lortgagor hereby waives alt riQht of homestead exemption, if any, in the IltortRa~ed Pro~x•Hy. , ! 20. In the event of condemnation proc•eedings ot the hlortgaqeil Pro~rcy, lhe award or com~~ensation payabte there- k under is hereby assigned to and shall be p:~id to 1~lortgagee. 1ltortgagee shall be under no obligation to question the amount I of any such award or compensation and may accepl the same in the :~mouot in w•hich the same shall he ~~id. In any such condemn.ition proceedings, 1~lortgagee may he represent~~ iiy counsel selected by hiorigagee. The proeeeds of any aw•an1 ~ or compensation so received shall, at the option of Mortgagee, either be applied to the prepayment of the Note ~nd at the ~ rate of interest pro~•ided therein, rnRardless ot the nte ot interest payable on the award by the condemning authority, or at the option of Mortgagee, such nward shall t?e ~u~id over to MortgaRor (or restoration of the Mortgaged Pro~~erty. ~ Zl. If htortgagee, pursuant to a c-onstructiun loan agrcement or loan oommitment made by 111ortga~;ee with MortRuKor. agrees to make construction lo:~n ad~~ances up to the princiE~.~l amount of the Note, then Mortgagor hereby covertants that it will comply with all o( the terms, pro~-isions nnd co~'enants of said construction loan agreement or loan ~ommitment, N~ill dili~endy cunstruct the impm~~ements to be built pursuant to the terms thereot, .~ll of the terms thereof which are in- cor~~orated herein by reterence as though set torth tully hetein and will pertnit no defaults to occur thereunder ~nd if a de- fault shall ocrur thereunder, it shal) constitute a detault under this Mortgaqe and the Note. ~ 22. At the option of NtortgaRee, ~4ortgagor shall pro~•ide Alortgagee with ~~eriodic ~rrtifiec~ audited st:~tements ot thc• . financial condition of htortgagor. ~ 23. Mortgagor represents and warrants that if a c•or~?oration, it is duly organized and validly existin~;, in g~wci gtand- ~ inA under the la~~•s ot the state of its inc•orporation, has st~•k outstanding which h:is been duly and validly issued, and is ~ quali(ied to do business and is in Qood standinR in the State of Florida, with full ~wwer and authority to consummate the ~ loan contemplated hereby: and, it a{k~rtnership, it iR duly (ormed ~nd validly existing, and is fully quali(ied to do business in the State of Florida: with (ull power and authority to c~onsummate the loan contemplated hereby. ~ ~ 24. In the event any one or more of the provisions contained in this Mortqage or in the Note shall for any reason i~e held to be im~alid, illeRal or unentorceable in any res~~ect, such iqvalidity, i1leRality or unenfon•eablity shall, ~t the option of the 111ortgaRee, not atfe~•t any other pro~~isions of thix MortRaRe, but this l~iortga~e shall 1?e construed as i( such ~ in~~alid, ille~al or unentonrahle ~?rovision h~d ne~er F~en confained herein or themin_ The total interest ~k~y~ble pursuant ~ Eo ihe Note or this 1~1ortRaRe shall not in any one year excec~l the hiRhest law(ul rate of interest in the State of Florida. ~ ~ 25. The covenants and agreements herein containeci shall bind and the benetits and ad~~~ntages shall inure to the ~ res~~•ti~•e heirs, executors, administrators, succesiors, and zissigns of the {k~rties hereto. Wherever used, the sinRular numl?er shall include the plural, the plura) the singular. :~nd the use of any gender sh:~ll be applicable to all Renders_ All ~ covenants, agreements and undertakings shall he joint and several_ In the event additional numbered covenants or par~- grophs are tor com•enience inserted in this rlort~~~e, such additional rn~•enants shall be read and given effect as though (ollowing this covenant in consecuti~•e order. ~ - e~ ~ - . . ~a~~ ~~E 115 . ~ . ~ _ ~ ~ . . ~ ~ . - ~ ~ _ _ . . . ,:Y ~ } _ ~ ~ J s y S~`~ ~,r _ ' .~~2 :