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Home My WebLink About0661 appl} .u~•h mnt~. isauc+~.+u?d pro(its. ~•eived by it on the indebteclnc~as xc~•un~d hereby in sueh unl~•~ .?s Alortsugce deter- minrrx. 1'he right to enle~ qpd Wke {wsex•ssion oj the MortK+igrd Yru~~erty, to m.~~uge und upen~te the a~~me, und to collecl the renta, iasues and pro(ita thenwt. whether by n re.^eiver or utherwise, shull t?e cumulative to uny olher right or mm~~ciy hereunder or n(torded by law, and may be exen•ie?ed concurrently therewith or inde~~endently themof_ Alortge~gre ahall be linble•to n.rou~t only tor such renta, issues nnd protits actuully mceived by MorlguKee. 14. 1f the indebtednrss tie.und hereby is now o~ hematlrr turther secured by chultel morigugc~s, s~.~•urity interrsts. tinancing stnteme~ta, p1ed~Crs, contracta ot guAru~ty, :~ssiKnmente of leases, or other se~vrilies, or if the Mortgnged Pro- ~~erty hereby encumbered consista o( more ttuin one ~wrcel ot mul properiy, Mortgt~gee ~y at its option exhaust any one or more of suid securilies and security hereunder, o~ such parcela ot the ssec•urity hereunder, either con~•urrently or inde- pendently, und in auch order s?s it muy determine. 15. This 1Nortgnge s}uill eecure not only existing indebtedness, but also surh tuture aid~•:~nces, whether such udv:?ncex are obligatory or to be made At the option ot Moitgagee, or othemise, ~ are mnde wilhin twenty (20) years from lhe dnte hereof, to the sume exlent ns if sucb tutute ~d~'ances were ma~de on the date of the execution ot thia MorlRuge, but such ~vured indebtednesq shull not e:ceed at any lime the muYimum principal amount ot = N/A plua interest, nnd uny disbursementa mude tor the {~yment o( tnxes, levies, or inaur.ince, on the rlortg.~ged Pro{~erty, with ioterest on such disbursementa Any such future advan~~rs, whether obligutory or lo lie made at lhe option of the I4lortgaKee. or otherwise, mriy be made either prior to or atter the due dute ot the Note or any other notes secured by this Mortgage. This Mortgage is given tor the apecitic purEwee ot securing a~ny and ull indebtedness hy the Mortgagor to 1llortgagee (but in no e~•ent sh:ilt the secured indebtedneas e~ceed at any time the maximum principal amount set forth in this ~x~nigraph) in w•h:ite~~er mnoner lhis indebtedness may he evidenc-rd or repmsented, until this 11r1ortg:~ge is si~tis[ied of record. All coven- t~nls and agreements contained in this Iltortg~ge ~h:~ll he nppli~~ul~le to all further adv<inces made by riortgngee to MortgHgor under this future advance clause. 16. No detay by MortgAgec in exercising any right or remedy hereunder, or otherwise attotded by law, ahall operate .?s n waiver thereof or preclude the exemise thereo[ during the continuance o[ any defnult hereunder. No waiver by Mortgagee ot any default shall constitute a waiver of or consenl lo sulisequent defaults. No failure ot I1lortgagee to exercise any option 6erein given to nccelerate maturity of ihe debt hemby secured, no tort?etirance by 111oRgagee t?etorn or atter thr eYemise of such option And no withdrawal or ahandonment of toreclosurn pra~eeding by Mortgagee sluill be taken or con- strued ns a waiver oi ita right to exetcise auch option or to accelerate the maturity of the debt hereby sc~ured by re:~son ot any past, present or tuture default on the ~irt of Morlgagor: and, in like manner, the procumment of insur.ince or the ~k~y- ment of t~txes or other liens or charges by Aiortgi~gee sh:~ll not be taken or ronstrued as a ws~iver of its right to a~~~i•clerate the muturity ot the debi hereby secured. 17. Without at(ecting the liability of Mortgagor or any other person (except any {xrson expressly rnleased in writing) for ~~ayment of any indebtedness secured hereby or for performance of nny obliRation containecl herein, and without :i(fe~•t- ing the rights of Mortgagee with respect to any security not ezpressly rele.ised in writing, MortRngee m.~y, nt any time and from time to time, either before or atter the maturily ot said note, and without notice or consent: (a) Release uny person liuble for µ~yment o( all or any ~~rt o( the indebtedness or tor periormance ot any obligation. (b) Make any agrecment eYtending the time or otherwise altering the terms of paymeut of all or any ~~.~rt o( the indebtedness, or moditying or wai~•ing any obligation, or subordinating, modifying or othervvise dealing with the lien or charge hereof. . (c) Exerciae or re(r.iin from exercising or w~aive any riRht Mort~aqee m~y havc. Id) Accept additional secvrity ot any kind_ (e) Rel~iae or othemise deal with any pro~~erty, real or ~~ersonal, securing the indebtedness, including all or ainy ~wrt of the Mortgaged Property_ 18. Any agreement hereatter made by Mortgagor and Mortgagee pursuunt to this mortgaKe shall F?e su~~erior to the rights ot the holder of arty intervening lien or encumbrance. ~ 19. \4ortgagor hereby waives xll right of homesiead ezemption, it any, in the 11lortg~ged Property. Z0. In the event ot condemnation proceedings of the Mortgaged Property, the award or com~~ensation ~~ayable there- under is.hereby assigned to and shall be paid to Mortqagee. Mortgagee shall be under no obligation to queslion the amount of any such award or compensation and may accept the same in the amount in which the same shall be ~uiid. In any such condemnation proceedings, Mortgagee may t?e represented try counsel selected by Mortgagee_ The proc•eeds of any aw•ard or compensation so received shall, at the option of Mortgagee, either be applied to the prepayment of the Note and at lhe ~ rate o( interest pro~•ided therein, regardless o( the rate of interest payable on the award by the condemning authority, or at ~ the o{rtion of Mortgagee, such aw•ard shall be ~k~id o~~er to Iliortgagor tor restoration of the Mortgaged Property. 21. If ~lortgagee, pursuant to a construction loan agrcrment or loan commitment made by btortgagee with hiortgagor. agrees to make construction loan ad~~~~nces up to the principal amount o( the Note, then I~lortgagor hereby covenants that it will comply with all of the terms, pro~•isions and co~•enants of said construction loan agreement or loan commitment, will diligently construct the impro.•ements to be built pursuant to the terms thereot, all of the terms thereof which are in- corponted herein by reterence as though set forth fully herein and will permit no defaults to occur thernunder and if a de- tault shall occur thereunder, it shaU constitute a de(ault under thia Mortqage and the Note. 22. At the option o( Mortgagee, A3ortgagor shal) provide Mortgagee with periodic certified audited statements ot the (inancial condition of Mortq~gor. 23. Mortgagor represents and warrants that i( a corporation, it ia duly organited and validly existing, in good stand- ing under the laws of the state ot its incorporati~n, has steck outstanding which has been duly and validly issued, and is qualified to do business and is in Rood standing in the State o( Florida, with full power and authority to consummate the loan contemplated hereby: and, if a E>artnership, it is duly fnrmed and ~~alidly e=isting, and is tully qualified to do businecs ~ in the State of Florida: with full power and authority to consummate the loan contemplatecl hereby_ S ~ 24. In the event any one or mom of the provisions contained in this Mortgage or in the Note shall for any reason f he held to he invalid, ille~al or unenforceable in any res~~ect, such invalidity, illegality or unentorceablity shall, at the ~ option ot the Mortgagee, not atfect any other provisions of this Aiortgage, but this I1lortgage sh:~ll I~e construed as if sueh im•alid, illegal or unentorceable provision had ne~~er been contained herein or therein. The total interest payable ~wisuant to the Note or this.MorlRaRe shall not in ~ny one year exceed the highest law(ul rate of interest in the State ot Florida_ 25. The covenanta and agreements herein contained ch:~ll bind and the benefita and advantages shall inure to the : res~~ective heirs, executors, administrators, successora, and assigna of the parties hereto. Whem~•er used, the singular ~ numt?er stk~ll include the plur~l, the plural the sinRular, and the use of anv Render shal) be applicable to~all ~enders. All ~ covenanta, agreements and undertakinga ahaU be joint and severaL In the event additional numbered covenants or para- graphs arn (or convenience inserted in thia MorlRage, such additional co~~enants shall be read and gi~•en e(fect as though tollowing this co~~enant in consecuti~•e order. _3_ ~ ~ 284 ~~X PACE b'~~ ~ , ~ _ „A ' ' - - ~~~~_~i .ra.}~:.. . ns.=.vr`~ r„ i..~,~ ' r ' . . ~'S~._~'1n~ ~'~~_'fa~ , i~J' . _