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Home My WebLink About0195 :q~ply .u~~h miits, ~s:u.•~ :ind pmtils r~•Niv~v1 hy ~t un th~ indebti~dn.•s.~c .~~•un•d hen•by in ~uch urd~~r a~ Atort~;.~Ka~• d~•t~•r num•s. 7'hc• riKhi to ~•ntcr :~nd tuk~• ~x~vi•saio~ of th~ 111urt};:~Kf~1 !'aqH~rt~•. tu ~u:~n:~Kr :ind o~?rrate ihe`ai~m~•. ~nd to ~•~~11~~~•t the mnts, i~u~~ :~nd pro(its thenof, ~vhether by i~ rE~a•ci~•rr or ~therwise, sl~ull Ik cu~nul:~lire to nn>~ other ri~h! ds n•n~~~ly hemunde~ or uUurd~~l hy luw, and nu~y L,e eYen•ised ~•oncurrently there~~~i~h or i?ide~K~nd~~nlly thrnti~t. 111ort~;ag.ti~ sh:~ll I~e liable to :~ccounf only for such mnts, issues a~d protits u~•tu:~lly rE~•ei~•~KI by titortKaxee. 14. If the indeUt~dness stvumc! hemhy is now~ or I~ere.~fic ~(urther ~~cumcl by i•hatlel moriKages, ,~•~urity interests, (inuncing statements, plc~clges, contracts of gu~ir.~nty. :~~.tiiRnments of le,~~•s, or other ~~•urities, or if the AQortgag~~1 Pm- ~xxrty hereby encumtx~recl conaists ot more than one ~?:~nrl of reul pro~x~tty, ;1'lurtgagee mny ut its option rxhuust any on~~ or mum ot s:~id securities nnd security hemunder, or ~u~•h ~?:~rcelR o( thr scr•urily hemunder, either ~•onc~u~mntly or inde- {~endently, und in such order ai~ it muy deterniine. 15. This MortgaiRe shall ~ure not only existinR indehtc~c]nes4, but .ilso sui•h tuture advances, whether su~•h ad~~:u~ces am obligatory or to be mude at the option of A1ortKagee, or otherwise, us nrn rtu~de withi~ twenty (20) ye:?rs Irom the dat~~ hen~(, to the same extent .is it such tuturn ad~.~n~Y~s N•ere mude on the d:ite o( the eze~•ulion of this rlortg:~Re, but su~•h u~•umd indebledness shall not exi•eecl at uny time the maximum ~irinci~~l :~mount of 3 plus intemst, and any disbursements m:~de tor the ~wyment of taxes, Ic~•iE~x, or insur.m~•e, on the A1urtKag~d Yro~x~rly, wilh ~nten~st onsuch disbursements. Any such (uture :idcances, whether ubliK~ton• or to 1?e m~de i~t Ihe option of the AtortK:~Ktv. or otherw•ise, may l?e m.~de either prior to or after the due d.~te of the Note or ~iny other noles s~x•umd by this A1ort~;aKc. This A1ortR:~ge is ~~.en tor the s~~eci(ic pur{~se of securiuR .~ny :~nd ~~II indebtedness b~ the :~1ortRaRnr to ~1ortRaKi~e Ibul in no event shall the se~•urecl indel~tedness exered at .~ny tinte the m:~ximum principal .~mount set forth i~ this ~?ar.iKr.?ph) in K•hatever manner this indebteciness m.iy I~e c~•idt~n~•ed or repmsent~~f, until this A1orlgaKc~ is s:itis(i~~ of nY•orc1. All ~•oven- :~nts ~~nd agrc~ame~ta containcKl in this MorlgaiKr shall !?e appli~•ahle~ tu all (uriher advan~•t~s madi• hy !11ortKaRE~c~ !o l~lort~ugor under this futum Advan~r cluuse. 16. No delay by MortgHgee in exercising any right or remcdy hereunder, or otherwise a(fordecl by law~, shatl o~~er.+te ~ as a waiver thereof or preclude the exemise thereot durinQ the continuance o( any detault hemunder. No ~~~aiver by 11ortRagee of any default shaU constitute a waiver ot or c•onsent tc sut~~yuent de(aults. No (ailure ot Alorlg~Kee to exe•r~-i~ an~• option hemin Riven to acceler.ite maturity ot ihe debt hereby se~•umd, no forl~earunce by A1ortg.~gee I~efore or after thr ex~~r~•ise of sui•h option and no withdrawal or ul?:~ndonment of fon~•losi~m pnx~eixlinR by 111ort~;aRee shall he t:~ken or ~rn- ~ttued ns a wai~rr of its ri~ht to exemise such oution or to acceler.~te the maturitv of the debt herebv ~.•unuf hv rn:~u~n nf .u~y past, prc~u~nt or (uture default on ihe ~k~rt of Aiori~agor: and, in like manrn•r, the pmc~urement of insur.~n~•i• or th~ p:~y- mcnt oi t:~xes or other lien. or c•harKcs tiv :~tortK:iK~~r tih:~ll not I~e t:~ken or i•un~IruiYl :~s K•:~i~•er of tls rikht tu :u•~~~~lerate• the nraturity of the debt hereby :u~•ured. ~ 17. Without nfiectinq the liability of blortgaRor or :~nv other ~~erson (rxcrpt any ~~erson expressly released in writinR) for ~u~yment of any indebtedness serured hemby or for ~~er[otmance of any obliR:~tion contained hemin, and withoul :~(f~~c•t- ing the riRhts of 111ortgagee with res{~ei•t to any security not expresslv released in w•ritinK, lUortR:~Qee ~nay. :~t :~ny time a~d from time to tirne, either Ix~(ore or atter the maturity of s:~id note, :~nd without noti~r. or c-onsenf: la) Release any ~~erson liable for µ~yment o( all or any ~~.~rt oi the i~debtednews or tor ~~erforman~•r oI any ebliKat~on. (b) !ltake any aKrcYment exte~ding the time or otherw~ise alterinR the terms of payment ot all or any ~k~rt of the indebtedness, or mexlifyin~ or ~vai~~inR :~ny obliRation, or sul?nnlin:~tinR, mcxlityinK or otherK~ise dealing N~ith th~ lic~n or ~•har~~ hereof. t~•) Exercise or re~frnin trom exercisinR or waive :~ny riKht :~1orfKaQEr m.n• have•. E (dl r1i•cept additional se~~urity of any kind. ; - ~ le) Release or othen.ise deal w•ith any pro~~erty. real or {~ersonal. uvurinR the indc~btE~nesg, irn•IudinK :~ll nr anti• p:+rt ~ nf the 1~tortRaged Pro~~erty. 3 ~ l8. Any aRreement hereatter made hy A1ort~aKor and Atort~aKee pursu:~nt to this mortK:iRe sh:ill 1?e su~?erior b the• s riRhts o( the hotder o( any inten•eninQ lien or encumbr~ncr. ~ 4 19. :~tortRaRor hemby waives .dl riRht of homestead c•xemption, if :~ny, in the AiortRaRc~cl Yro~x•rty. 3 ` '20. In the event of condemnation pro~•eedings of the hlortgaged Yro{~rty, the award or c~om~~ens:+tion ~k~yable there- ; under is hernby assigned to and shall t?e ~iaid to ;1lorig~gee. A4ortgagee shall t?e under no oblig~tion to question the amount z ot any such award or com~~ens:dion and may accept the s:+me in the amount in which the same sh:~ll be paid. In any such x ~•ondemnation proc•eedings, Atortgagc•e m:iy 1~e repre~ntecl t?r cuunsel selM'IE'(~ II_V ~tortgagee. "The proc~eeds of any :~wc~rd ~ or compensation so received shaU, at the option of A'Iort~aRee, either t?e applied to the pre~u~yment of the Note and at thr , rate of interest pmvided therein, reRardlc~. ot the r.~te ot interest payable on the :~w~:~rd by the condemninR ~uthorit~•, or :~t ° the uption of ;1for1R:~„ee, such a~:•.ird shall F~ paid over tn MoriRa~or for mstor.dion of the ~toriR.~Rec1 Pro~?eriy. z ~ 'll. If ~tortgaRee, pursuant t~ a~•onstruction Irk~n :~Kreement or luan e•ommitment made by AtortRagee with A'Iortga~gur. ~ agrees to make construction lo:~n ad~:+nces up !o fhe prin~•i~~:~l umount of the I~otr, then TiortgaRor hereby c•ovenants that it s will comply with all of the terms, pro~•isions and co~•enantc of s:iid construction loan agreement or lo:~n ~ommitment, will a dili~ently cronstruct the impro~•ements ~to be built putsu~nt to the tertns there~f, all of the tem~s thereot which are in- ~ cur~wr.~tec1 herein by re(enmce as thouRh set forth (ully herein and will ~~ermit no de(aults to occur themunder and if ~ de- ~ (:~~~~f ch_~~1 n~•~•~~r IhPrn~~nils~r i1 ot!.:l1 rnna?:~~~10 ~~7nfL.Z~: ....Lln~ fl~~c 1?'1~':r,.^.~C :~C ' - ' 22. At the option of A1ortRaRee, A1ort~a~or ah:~U pm~ide tiiortga~ee w~ith ~~eriodic certi(iecJ :wditrd st:~tements o( the ~ finam•ial condition o( ~IortKagor. ~ 23. \1ortRaRor represents anJ Karrants that if a cor~wration, it is duly orRanizc-~ and validly existinR, in Rood sland- ~ inQ under the L•~KS of the st.ite• of its incor~~oration, has strx•k outstanding which has f?een duly and ~~alidb ~~.y~~i. :~~~i is - qualifiec! to do business and is in Rood standing in the State o( Florida, with full power and authority to consummate the ~ luan contemplated hereby; :~nd, if a partnership, it is duly (ormec! and validly existinK, .ind is fully qualified to do business Y in thE: Stnte ot Florida; w•ith full ~x~wer and authority to ~rnsumm:~te the loan contemplatecl hereby. `~4. ln Ihe evrnt :~ny one or more of the procisions contained in this hlortgage or in the Ir'ote shall for any reason - j Ire held to I~e im~alid. i11eK.il or unenfon~eable in any res~~ec•t, such invalidity, illeqality or unen(omeanlity ahall, at the ~ _ ~~~it~un uf the AtortKagE~c, not .if(e~•t any other pro~•isions of this 1~tortRaRe, but this 1lfurt~aRe sh:~l) be mnstrueci as if Su~~h im:~lid, illeg.~l or une•nforreahle provision h:~d ne~~er Ixen contained herein or therein. The total interest payable pursuant t~ the Note or this 11or1K~~xc shall not in ant~ one y~~ar ex~•ec~ ihe hiRhc:~t I~w•ful rate o( inten~st in the Statt• of Florid:~. = ZS. The cocenants and agreements herein containeri chall bind and the tienelits and advx~ntages stwll inure to the , res~~.•ti~e heirs, executurs, admini5trators, suci•~~sors, and assiRns of the parties hen~to. Wherever used, the sinRular ` numlMr shal) ini•lude the ~~lur:~l, the plural the sin~ul:ir, :+nd the use of an~ Kender shall F?e :~pplicable to ~11 Renders. All - ~•o~~en:~nts. agreements and undertakinRs shall I~e joint and several. In the c•vent :~dditional numherec! ~~o~•enanfs or para- ; Rraphs are (or com~enience inserted in this TtortRaRe. such addilional ~•o~enants chall be read and Qiven etfect ~s thouRh tollo~~~ing this co~~enant in consecuti~•e order. i , -3- Q ~~~x 28s is5