The URL can be used to link to this page

Home My WebLink About0201 .~~y~l~• +u, t? r.•nt,. i„u~•, :~nd pru(ita r.~~ eiv.~c! h~~ it un the indebt~vinc..w urvr.•d hen•1~}' in su~•h unirr ~turt~;aR~w ~t,•tor min.•~. The riKht to e•nter iuu) tuke {n~sci:~;iun uf the A1urt~;:~K~~c1 1'ru~x•rty. to nr.~n:~~;r :~nd o~x•r.~t.• tho s:~me. :~nd lu ~•c,lliy•l the rents, issu~~s a~nd pm(its thenv~(, N•h~•ther hy m~•ei~er or othe~ise, ahull lx.~umyl~~tive /o ainy utt?~,right ur n•m~riy hereundrr or attordeci by law•, nnd nu~y 1?e exrn•ised i•oncumntly iherewith or inde~~eqd~~~dly'Ihe~f; jlfurtRu~.~~ sh:~ll I~e liuble to uccowit only (or such n•nts, issu.~s and pm(its :~ctually re~•~•i~~~v1 hy Alortgugee. t',~ l4. It the ic:'~.!rt^clnes~ ~~cunYi hi•n~hy iK nuw or here.?fter turther s+~~•uted by ~•h~~tt~•1 niurtkage+, .e~•urity intrr.•sts, (innncinR st:?tem~~~ts, plcvlRes, contr.~~ts of Kuar.~nty, as,itinm~•nis uf 1~:?xrs, or other seivritie~c, or if the R1o~lg.igecl Pru- ~x•rly hemby encuml~end cunsists u( more th:~n one {?:~~eel ot r~•al pro~~erty, Aturtgagee muy .il its option exhaust uny ont• or more ot ~~id ~•urities und sax•urity hemunder, o~ such ~u~nrl~ of the sen•urity hereunder, either ~•uncurmnUy or indr- ~x„d~,~cly, and in such order as it may determinN. l5. This ~1lortgc~ee shali see•um nol unly i~xistinR indehleclnecc, but ulso su~•h (utun• .?d~~~nces, whNher su~•h :~d~unce. are oblig.dory or to 1ie m.~de :~t the option of !~1ort~;t~gce, or othen~•ise, as are m:ide withi~ tveenty I~N1) years (n~m th~ dut~• hereo(, to the s:ime Nitent us it such tutum .~d~•anceti were m.~de on ihe dute o( ihe ~~xcY•ution of this 1ltortKaKe, hut such ~•urE~c1 indebtcKlnrs~ shull not ex~rcd at any timc the m:iximum ~>rincipal amount of $ plus interest. .~nd any dishursements m<~de for the {xrymrnt o! t:ixes, levies, or insuran~•c~, un the A1urtR.~~;ed Yro~H•rty, Nith inten~t on ruch disbursements. Any such tuture advi~n~•c~, whether obliK:?tory or to t~e made :~t the uption of the I1lortKaKt~•. ur otherwise, muy l~e made either prior to ur afler the dur date o( the Note or any other not~~ scr•umcl I:y this A1urtKaRe. This Alortgage is gi~rn [or the ~{x~~i(ic pur{wx ol scY•uring any and all indeblcKlness t>y the A1ortK:?Kur to 11ortKaRtr Ibut ~ in no event shall the see•un•c1 inc~ebtedness exceecl at any time the mu:imum princi~~:il amount uH torth in this ~?:ir.~Kr.~~?hl in N•h.~te~~er mnnncr this indrbtedness muy t~c c~idencrcl or reprrsent~Yl, until this :~1ortga~e is sitisfied o( rtY•ord. AU ~~o~•e•n- ants :~nd :~gmements crontained in this AtorlK:ik~ shall I~e :~ppli~•abl~• to aU turther ad~~:m~•~s nuid~~ by 111ort~;a~ee to 11ortKaRor under this tuture ad~•an~Y i•lause. 16. 1\'o delay by Atortgagee in cxercising any right or mmc~ly hemunder, or otherwise a((ordcd by ta~v, sh.~ll u~mrate a+ a wui~t:r thereof or preclude lhe exercise therc~f durinR the c-ontinuance of any default hereunder. No K•aiver hy ~turlgagce of :~ny def.~ult shall constitute a w:~iver ot or ~~onsent to sul~~yuen! detaults. No iailure o( 1~lurtg:~gee to ~•x~•n•i:c~ any option hernin Ri~en to ac~rler.~te maturity of the debt hemby seti•urc~cf, no (orl,~ar.~nce by MortR.~gre I~tore ~~r attFr thi~ exercise of sui•h option and no withdrawal or t~t~:~ndnnment of fore~•lusure proc•c~a•c1inK by t~tort~agee sh:~ll he taken ur con- . stnied fis n wai~•er of its ri~ht to exercise such option or to ai•rnler.?te the ni:NUrity of the debt herehy securerl 1?y rnacu~i o( any past, present or (uture deL•~ult on the {~.~rt ot rlort;,aFa~: and, in lik~ m:~nnrr, th~ ~~ra•umnient of in~urance or thr pay- ment of taxes or other liens or char~;rs by TtortK.iKee ,hall not Ix~ f:~ken ur ~•onstrueY) :is a~~•:~ice~r o( its ri~;ht tu a~ ~•elcr.iti• the muturity of ihe debt hereh~~ uK•?ired. 17. Without affecting the liahility ot l~tortgaKor or :iny othcr ~?erson (except anY ~~erson expres5ly releasrci in writinR) for ~kryment o( ciny indebtedness se~•ured hereby or for ~~er(orm:~n~•e of .~ny oh1iR.~tion containt~! herein, and ~~•ithout a(tec•t- inR the riRhts of T1ortRaRee with respe~•t to any scKVrity not expmssly releusecl in ~~~riting, A1ortQaRee may, at :~m~ time :ind fmm time to time, either Irefore or atter the maturity of s:~id note, :~nd without noticr or consent: . la) Release any ~~erson liuhle tor ~ziyment of all or any ~k~rt o( the indeMeclne.~ or tor ~~er(ormani•e of :iny obliKatiun. (b) \t;~ke any aRreeme~t cxtending the time or othenvise alterinR the terrus of payment of xll or any p:+rt uf the indebtedne~c, or moclifyinK or ~caivinQ any obligation, or sufardin:ilinQ, modifyinR or othenvise dealinK «•ith the lien or ch:~rgF hereo(. i ~ Ic) F.xen•ise or refr.~in (rom exercising or w-ai~r ;~ny riRht A1ortRaRt~~ may ha~t~. ~ Idl Ac~-ept additional security o[ any kind. ~ (e) Release or otherwisr deal with any pro~x~ y, real or ~?er:;on:~l, sc~vrinR the indetrtecfness, includinK all or any ~~:~rt ~ ot the ~lortgaged Property. ~ 18. Any agrrement here:~fter made by 1lortgaRor .ind 11ortRaKcr pursuant to this mortKaKf~ shall tNr su~~rri~r to tht• riRhts uf the holder of any inten~eninR lien or encumbrance. ~ 19. Atortga~;on c~rehy wai~•es all riRht of h~~mestead cxemption, if :im. in ihe i4lortR:~Rc~1 Yro~x•rtt•. ~ ~ 20. In the e~~ent of condemnation proceedings of the A'IortR.igecl Prv~zerty, the award or com~~ens:~tion payable there- s ~ under is herehy assignecl to and sh:ill I~e ~aid to rtort ~ ee. A1ort ~ ee shall t?e under no obli ~tion to uestion the amount i 1" R~ ~ K~ K B~ 9 of any such award or romE~ensation and m.~y accept ihe s:~me in the amount in vchich the same shall t?e ~k~id. In am• such ~ rondemnation pr«•eedings, T1ortR.i~ee may lie mpn-sented try counsel sele~-ted by T1ortRa~ee. The proceecls of .iny .~ward or com~mns:~tion so recei~~ed sball, at the option of A1ortRagee, either 1?e applied b the pre~k~yment of the Note and at the ~ rate of interest pro~•idecl therein, rek:irdless of the r.~te of inle[est paVable on the aH•ard by ihe condemninR authority, ~~r at ~ the option of ~ltortRaRee, sach award sh:~ll he paid m•er to r1ort~aKor for restoration of the 1~1ortR:~Red Pro~~erty. ~ 21. If \lortgaRee, pursuant tn a ronstruction luan a~reement oi loan i~ommitmFnt made by 1~1ortRager w~ith MortgaKor, ~ aRrees to rru~ke constru~•tion la~n ad~ancc~ up to the principa) :~mount of the Note. then Mortgagor hereby co~~enanls that it ~ will comply w'ith all o( the terms, pro~~isions :~nd c•o~~enants o( s:iid construction loan aRreement or loan commitment, w~ll diliRently constn~cf the imE~ro~•ements to tre built pursuant to fhe terms thereo(, all of the terms thereof w~hi~~h are in- _ ~•or{~orutec! herein by mferer.ce as thouKh set forth fully hemin and ~+ill E~ermit no de(aults to occur themunder and if a de- ~ f:iult shall M•cur thereunder, it sh.~ll constitute de(ault under this 11ort~:~Re :ind the Note. ~ ~ 2`L. At the optiun o( \1ortR:iRee, 11ort~aKor sh.~ll pr~?ride A1ortRaRee with ~~eriodic certi(iecl audited statements o( the finan~•ial condition o( 111ort~aKor. 23. ~lortgaRor reprc~ents and warrants that i( a~•or~x~r.rtion, it is duly orKanizc~l and validly existinR, in Rood sland- inR under the la~~s of the state of its incor~~oration, h:~s stock outstandinF v~hich has tx~•n duly and ~alidly i+vued, and is qualified to do husiness and is in R~~d stanclinR in the titate o( Florida, with (ull ~wwer and authority to consumm:~te the loan t•ontemplated hemhy: and, it partnerchip, it is duly (ormrci :~nd validl~ existinR, and is fully qualified to do husine~s _ in th~• State of Florida: ~ti•ifh full ~~ower and authority to ~~onsummate the loan contemplated hereby. 2a. In the event any one or more o( the pro~•isions ~~onta~ned in this l~tortga~e or in the I~TOte shall for any reason I~e field to I?e im•alid, ille~.~l or unenfomealrle in any res~~•t, sui•h imalidity, illegality or unenforceablity shall, at the option of the ~tortga~ee, not af(e~~l any other pm~~isions o( this l~1ortR:~Re, hut this 11ortRage sh:dl t~e construed as i( surh im:~lid, illeKal or unenton•eable pmvision h:~d ne~•Pr t~een contained herein or therein. The total intereat payable pursuant to th~• tiote or this IltortK:~Ke shall not in an}- one >~ear ex~•ec~d thc• hiRhc~t I:iwful rate of interrst in the Sfate• of Florida. 25. The co~~enants and agreements herein contained shall hind an~ the benefits and ad~•antaQes shall inure to the res~xr•ti~•e heirs, executors, administr.itors, cui~c•es.x~rs, and assiRns of the p:+rties hemto. Whem~•er useci, the sinAular numi~c~r shall include the plural, the plur.il the sinRular, and the use of any Kender shall tx~ applir.~ble to all Renders. AI! - cocenantfl, aRreements and underlakinRs shall t~e joint and ~cenl. In the P~rnt :idditional numF~ered covenanta or pan- Rraphs are (or com•enience inserted in this A1nrtRaRe, curh additional ~~ocenants ~hall be read and Ri~~en etfect as thouRh - tollowing this ca~~enant in ~•onseruti~•e order. . ;Y ~ . -3- -^3 t ~nK ~~6 ~t~~f zo~ z:;; .