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Home My WebLink About0105 ;.~t. • ' ~i < . 'upply ruch ronta, issues and pmtita rereived •by it on the indebtednen aecured hereby in sucb orde~ w Mortgagco deter- mine~. Tbs right to enter and take poneision ot the Mortgeged PcopeNy, to manage ap~o{~rat4 lhb~e.~~d~ collect the e+ents~ ia~ue~ and proti4 tbareof. whetber by a receiver or olhetwise. shaU bs cumulaUve to atry otl~er rf~• remedy hereunder or at[orded by law. and mqy be e~cerci~ed concurreatly thsrewith or independently thereof. ~Mortgagee shall bs liable to aaount only tor suc6 renb. issues and pmtib actuaUy received by Mort;aaee. 14. It tl~e ic~debtedne~s aecured hereby is now or heceatter further secured by cl~attel morigages, se~urity intererts. iinancina ~tatemenbr pledgea~ contracts of suaranty, aesianmeota of leases. or oiher securities. or it the ll~ortgaged Pro• perty hereby eucumbered consists ot more than one parcel ot real pruperly~ Mortgagee may at its option e:hawt any one or more of ~aid securitiee and security hereunder. or suc~h pameL ot tbe security hereunder. either concurcently or inde- pendent(y, and in such ordes as it amy determine. ~ - 15. T6u Mort;age s6a11 secure not only e:istirea indebtedneas. but also such tuture advancea, whether such advances arp obligxtory or to be made at the option of Mortaasee, or otherwiee. as are made within twe~ty (20) yeais (rom the dete ~ dereof~ to the same estent as if such tuture advances were made on the date ot the e:ecut~on ot thia Mortgaae. but such secured indebledne~s ahaU not e:c~i at any time the maximum principal amount of = plua interest, aad any disbursemenb made tor the payment of ta:es. le~ies, or insurenoe. on the Mortgaged Property. with iaterest on wcL di~bnrsemenfs. Any such tuture advances, whether obliaatory or W be made at tbe option ot ihe Mortgagee, or otherwi~er, may be made either prior to or a[ter the due date of the Note or any otber notss aecured by this Mortgage. '1Lis Mortgage is given for the specific pur~wse of aecuring any and aU indebtedness by t6e Mortgagor~to Mortgagee (but in no event aball the secured indebtedneas e:ceed at any time the ma:imum principal amount set torlh in this paragraph) in whatevcr manner this indebtedne8s may be evidenced or represented. until this Mortgage ia satiared of nrord. All eo~,en- ants and egreeroenta contained in this Mortgage ahaU be applicable to alt turtber advancee made by Mortgagee to Mortgagor under this future advance cluuse. 16. No del~y by Mortgagee in ~erciaing any right or remedy hereunder. or otherwiee aftorded by law. a6a11 operate as a waiver thereof or preclude the ~ercise thereof durin~ the continuance o( any default hereunder. No waiver by Mortgagee ot any detault shap coastitute a waiver of or conseat to subeequeat detaulta No failure ot Morigagee to exercire ~ any option herein siven to acceletate maturity of t6e debt hereby secured. no [orbearance by Mortgagee betore or atter the e:ercise of sach option and no withdrawal or ab~ndonment of forEClosure proceeding by Mortgagee shall be taken or rnn- atrued ae a wai~er of its risht to e:ercise such option or to accelerate the maturity of the debt hereby aecured by reason ot any past, preeent or future default on the part of Mortgagor; and, in like manner, the ptocurement of insurance or the pay- ment oi ta:ea or other liens o~ chargea by Mortgagee ahnll not be taken or construed as a waiver ot its right to accelerate the maturity ot t6e debt hereby secured. ~ 17. Without affecting~the liability ot Mortgagor o~c any other person.(e:cept any pertibn e:pressly releaeed in. writing) tor payment of eny indebtedneas secured 6ereby or tor per[ara~qce a~ any obligation contained herein, and wit6out atfert- ing t6e rights of Mortgagee with reepect to any eecurity not enpreesly released in writing, Mortgagee may, at any time and fmm time to tim~. either before or after the maturity ot eaid note, and without notice or rnneent: . . s ; - . ; : . , (a) Release any person liable for payment o[ aU or any part of the indebtedneas or tor performance ot any obligation. 1 (b) Make any agreement ertending the time or otherwise altering the terma o( payment oE all or any part o( the ; ~ indebtedness, or modifying or waiving any obligation, or subordinating, modifying or ot6erwiae dealit~6 wiW the lien or _ t t c6arge hereot. ; , . ~i. _ t ' (c) E:ercise or refrain (rom e:ereieinq or waive any right Mortgagee may have. ~ ~ (d) Accept additional secvrity of any kind. ~ (e1 Releaee or otherwiee deal with any property, real or personal, eeruring the indebtedneaa, including al! or any part of the Mortgaged Property. _ • ' 18. Any agreement hereatter made by Mortgagor and Mortgagee puisuant to thia mortgage shaU be superior to t6e ~ righte of tbe halder of any intervening lien or encumbrance. - , ; 19. Mortgagor bereby wgives all right of 6omestead e:emption, if any. in the Mortgaged Property. i - ~ .ZO. In the event of condemnation proceedings of the Mortgaged Propedy~ the award or rnmpensation payable there- _ ~ under is hereby aesigned to and shall be paid to Mortgagee. Mortgagee shall be under no obligation to queation the amount ~ of any such award or compeneation and may accept the same in the amount in which the eame ahall be paid. In any auch ~ rnndemnation proceedings, Mortgagee may be represented by counael selected by. Mortgagee. The proceeda of any award ~ or connpeneation so received shall, at tbe option o[ Mortgagee. either be applied to the prepayment of the Note and at the ~ rate ot interest ~provided therein. regardless of the rate ot intereat payaMe on the award by the rnndemning aut6ority, or at the option of Mortgagee, auch award aball be paid over to Mortgagor tor restoration 9t the Mortgaged Property. . R ~ I ~ . . ~ 1 . j . ' ~ 21. If Mortgagee, puisuant to a construMion loan agreement or loan commita?ent a~ade by l~f~oitgagee with Mortgagor. ~ " ~ agreea to make conetruction loan advancea up to the principal amount of t6e Note. then Mortgagor hereby~~pu~~ tLat it will comply with all oE the terma, proviaions and covenants of eaid rnnatraction toan agreement or loan~ nt, will diligently rnnstruct the impmvementa to be biWt pursuant to the terms thereof. ell of tht terms thereof which are in- corporated heiein by reterence as though set (orth fully 6erein and will permit no detaulte to ocear thereunder and if a de- tault st~all occur thereunder, it ahall constitute a de(ault under this Mortgage and the Note. . 22. At the option of Mortgagee~ Mortgagor shall provide Mortgagee with periodic rertitied audited statements of the tinancial condition of Mortgagor. ~ 23. Mortgagor represents and warrants that i[ a corporation, it is duly organized and vaGdly e:iating. in good stand- ing under the laws of the state of its inrnrporation~ has stock outstanding which has been duly and validly issued, and is ~ qualiGed to do business and ia in good standing in the State of Florida, wit6 full power and suthority to consummate the ~ loan rnntemplated hereby; and, if a partnership, it ie duly tormed and validlY e:isting. and is fully qualified to do businese y in the State oI Florida; with full power and authority to co~mmate the loan rnntemplated 6ereby. n . s 24. In the event any one or more of tbe pmvisions contained in Wis Mortgage or in the Note ahail for any reason ~ be 6eld to be invalid, illegal or unenforceable in any respect. such invalidity, illegality or unentorceablity a6a11, at the ' option of the Mortgagee, not aftect any other proyisions o[ t~is Mottgage, but thia Mortgage s6a11 be construed as,it such ~ invalid, illegal or unentorceable provision had never been contained herein or ttierein. The total intereat payable puisuant ~ to tbe Note or this Mortgage shall not in any one year exceed lhe higheat lawtuf rate of interest in the State of Florida. ~ 25. The covenan4 sud ~ ~ agreemente herein conlained ahall bind and the benetita and advaatagea shall inure to the respective 6eirs. executoes, adminiatrators, succeaeoes, and aasigns of the pertiea hereto. Wherever used, the singular g number shell include the plural, the plural the singular, and the uee o( any gender shall be applicabl~ to all gendeta. AU = coveaants, agreeinenta and w?dertakings ahall be joint and several. In the event additional numbered covenante or p~ara- ~ grapbs are for rnnvenience inserted in thia Mortgage, auch additional covenants shall be re~d and given eftect as though ~ tollowing thia covenant in rnnsecutive order_ ~ ~ ~ -3- . ~ BOGfc B001I ~+OV P~GE 195 : t ~ 3~ Y er..<y; -d- ir~.- - ~ ,~i " . . ~ ~ . . - ~y r ~ r_ ~ `v ~ f re_-~ _ w , _ " ~mr` .-,.s~s r .c_o-,.s.~ . ~:x ~..~m-~".~