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Home My WebLink About0369 u~~ply xu~•h mnis, i~:urs and proli/a ~eceived by it an Ihe indebteclneas xc~•und Fie~eLy~iA xuca orde= ~ M~~rtgug~ti d~•ter- ~a iuinc~ss. The ~ight tu enter ~nd tuke ~ru~se~ion ol the MortR%?Rec1 Pro~ierty, to manage a~d uperiit. ~t~~e, and fo ~•olie~•1 the oenta, isaues nnd profita therrot..whether by a recciver or otherwise, aluill be cumulntive to any other~ieht or rr~?edy hereunder or aitorded by law. end mxy !~e exen•ised conc~urrently therewith or inde{rendenlly thereot. MortR~gee ahull IrB ~1AhIP l0 AMOUpI QAIy IO[ 6Ul•II P@hlS, 1l19UC8 Atld NI'Qlifs tic~U.1IIj~ Ifi'NIYf'd I)y I~~O[!j(Ug~YT. 14. It the indebtedneas seeured hereby is now or hereutter turther secured by chritte! mortgages, xecurity interexta, tin:~m•ing atatementa, pledges, ~~ontracts of guarnnty, :~ssignmente at leasea, or other securities, or it the Mortgnged Pro• • {~erty hereby encumbered consiata of more thu~ one ~xircel of reul property~ Mortgagee may at ita option e:huust any one or more o( auid aecurities and security hereunder, or such parcels oi the aecurity hereunder, eithe~ concurrently or inde- ~~endently, and in auch order us it muy detennine. 15. This 111ortguge sluill eecute not only eYisting indebtedness, but aleo such future ndvances, whether such .~d~~ancea ~re obl'egatory or to~be mude at the option ot Mortg~gee, or otherwise, as ure made within twenty (20y years fmm !he dntc he[eo(, to the et~me e:tent us it such tuturn ndvancea were nu?de on the date of the execution ot this Mortgage, but xuch . secured indebtedness shall not exceed at any time the n~aximum principa! amuunt oi i' • plus interest, nnd uny disbursements made ior ihe pnyment of tA:ea, levies, or insurance, on the Morigaged ProE~erly, with interest on such disburaementa, Any such future ~+d~•unces, whether obligatory or to he mude at the option of the lktortgagre, or othetwiae, may be made eithor prior to or after the due daite oi the Note or any other hotes aecured by this Mortguge. This Mortgage is given tor the speci(ic purpoae ot securing uny ~nd ap indebledness hy the Morigugor to Mortgagee ~but in no e~ent shail the secured indebtedneas ezreed at any time the nu~ximum principal~Wmount set torth in thia {wr.~gruph) in v?hatever manner this indebtedness may F~e evidenced or ~epresented, until this Mot~gage is satisfied o( rec~orrl_ Ai) coven- ~nts Hnd agreements contained in this Mortgr?ge ahall he nppti~•able to nll (urther advamrs mnde by Mortgager to Morigugor under this future advaoce clause. • 16. No delay by Mortgagee in exercising uny right or remedy hemunder, or othecwise af(orded by (aw, shalt operate :?s n waiver thereof or preclude the exemise thereof during the continuance ot uny de(ault hereunder. No waivet by Mortgagee of any detault shall constitute a wAiver ot or consent to aubsc~uent detaults. No (ailute of Mortgagee to exercise any option herein gi~-en to accelernte maturity of the debt hereby secured, no forbeArAnce by Mortgagee hetore or after the - exercise of such option and no withdrawai cr at~ndonmenl of toreclasute pra~eeding by Mortgagee shall be taken or i~on- strued as a waiver ot ita right to exetrise such option or to Accelemte the matutity o! !he debt hemby secured by reason o( .~ny p ast, present or tuturn default on fhe part of I~4ortgagvr; and, in like ms~nner, lhe procurement of insur.ince or the ~~:iy- ment of t~xes or other liens or rharges by MoHgagee sh:~ll not he taken or conslrued <~s waiver of its right to :?~ti•eiernte the maturity of the debt hereby serured. . . t ' 1T. Without atlecting the leability of HZortgHgor or any other person'(eYCept uny ~~erson ex~~ressly released in writinR) tor payment of any indebtednesa secured hereby or [or performance ot any obligation contsii~ed herein, and withont ~ftert- ing the rights of Mortgagee with reape~•t to any security not expressiy releaeed in writing, Mortgagee may, at any fime and from time to time, eilher before or atter the maturity of said.note, and without notice or~rnasetit' ' ~ (a) Rele:~se uny person liable for payment of ail or any ~prrt of the indebledness or tor ~~er(ormance ot any ohligation. Ib) Make any agreement eYtending the time or otherwise altering the terms o! payment ot all or any jk~rt ot the endebtedness, or modifying or wHiving any oMigation, or evhordinating, modifying or otherwise dealing with the lien or charge hereof. 1c) Exenise.or re(rain trom exercising or wai~•e .iny riRht Mortq.~gpe may hg.•c. (d) An~ept additional serurity o( any kind. " (e) Release ar othenvise deal with any properly, mal or ~reraonal, securing the indebtedness, inrluding all or ~ny ~kirt of the Mortgaged Property. 18. Any agreement hereatter mz?de by 1Vlortgagor and ltlottgagee pursuant to this mortg:+ge aF?:wll F?e superior to the rights of the holder o( any inten-ening lien or encumbrance. 19. Morigagor hereby waives aU right of homestead exemption, if any, in the Mortgagecl Property_ 20. In the event o[ condemnation ptoceedinga of the Motigaged Property, the award or compena~teon paynble there- under is hereby assigned to and shalt 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, Morlgagee may be repmsented by counsel selected by Mortgagee_ The proceeds of any awarcl or compensation so nreived shall, at the option ot Mortgagee, either be applied to the prepayment ot the Note and at the rate of intereat provided therein, regurdless o( the rafe of interest payable on the :~ward hy the rondemning authority, or at the optibn of Mortgagee, such award shall F?e ~~id over to Mortgagor tor restorafion of the Mortgaged Property. 21. If Mortgagee, pursuant to a ronstntction loan agreement or loan rommitment made by Mortgagee with Mortgagor. agreea to make construction la~n ad~•ance3 up to the principai amount ot the Note, then Mortgagor hereby covenants that it will comply with all of the terma, provisions and covenants of said construction toan agreement or loare commitment, wiU diligently rnnstruct ihe improvements to be built pursuant to the tertns thereof, al1 of the terms thereof which are in- corporated herein by reference as though set for:h tully herein and will permit no defautts to occur thereunder and it a de- tault sFu~ll occur thereunder, it shaU constitute a detault under this Mortgage and the Note. • 22. At the option of Mortgager, ~lortgagor shall provide Mortgagee with periodir certefied audited statements o( lhe tinancial condition of Mortgagor. 23_ Alortgagor represents and warrants that if a corporation, it is duly organized and validly existing, in good stand- ing under the laws of the atate of its incoriwr~tion, has sto+~k outstanding which tws been duly and ~~alidly issued, and is yualified to do buainess and is in good standing in the Stnte of Florida, with iull power and aulhority to consummate the loan c-ontemplated hereby; and, if a partnerahip, it iB duly tormed and validly existing, and is fully quali(ied to do business in the Stafe o( filorida; with tull power and authority to consummxte the loan contemp{ated hereby. 23. In the event any one or more ot tbe pmviaions contained in thia Mortgage or ih tMe Note shall tot any reason I~e held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceablity Rhali, at the option of the Mortgagee, not atfect any othet provixions of this Mortqage, but this Mortgage shall be construed as if such invalid, illegal or unenforceabte provision had never tieen contained herein or therein. The totat interest payable pursuant to the Note or this Mott~aRe ahal! not in any one year exceed the hiqhest lawful rate of interest in ihe State of Florida. 25. The covenanta and agreements herein contained shall bind and the benefits and advantuges shall inurn to the reapec-tive heira, e:erutors, administratora, successora, and :~ssiqns o( !he parties hereto. Wherever used, the sinRular numher shall inctude the plural, the plural the sinAular, and ihe use ot any gender shall be applicable to.al! genders. All covenanta, agteementa and undertakinga ahaU be joint and several. In the event additiona) numhered covenants or para- graphs are for convenience inaerted in this 119ortgage, such additional covenants shall be read and gi~•en eftect as though following thia covenant :n consecutive order. -3- $~~x ~~5 ~?~f 36~ - ~