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Home My WebLink About0111 . . . ~ i ~ _ , ~ . ~ ~ _ apply wch rents. isruer and protita received b,~? on thb"~ndebledne~s secured hereby in wcb order na Mortgagee deie~- miaes. Tbe right to enter a~d take poese~sioa ot the Morl~ed Pwperty. to mana~e and operate the saa~e, and to copect the rents. inwes and profita tlwreot. wbether by e receives or otherwi~e. ~all be cumulative to any other right or remedy hereunder or aiforded by law. and ~my be e=ercised cw~cerrentiY eherEwitb or independently the~eot. Morteagee ahali t be IiaWe to aocount only tor aucl~ rsnti. ja~ue~ and protits actually received by Mott~agee. ~ i 14. If the indebtednes~ ~ecured hereby is now or hereetter turther iac~?red by clu~ttel mortaages, ~ecuritY interests. ; (inancins datement~, pledses, contracta oi suaranty. arsian~~b of les~es, or ot6er securtties. or it tt~e Mortgaaed Psa perty hereby encumbered consists ot mora tban one Aarcel of real properly. Mostsa~ee may at ita optioa exheuat any one or more of ~aid secutities and security fiereunder. or such parceb of tbe secusity heseunder, eilher concurrently o~ inde- pendeatly. and in such oeder as !t may deter~au»e. . 16. T6u Mort~age ahati,eecure not only e:iatiryj indebtednNS, but alao sucb tuture advancea, whether such advances are obligatory or to be made at the option ot Mortgagee, or otberwise. as are made withia twenty (ZO) yean. tmm the d+~te hereo~. to t6e same e:tent as it such future advances were mede on !be date of t6e executior of this MotteaBe. bu! such secured indebtednees ahall not euceed at any time tha ma:itnum principal amouat o[ i plus interest. and any dieMireemenb made tor the payment ot laxes. levies, or insurance. on the Mortgaged Pmpedy. with • interest on wch disbu»ements. Any iuch future advances, whether obligatory or to be made at the option ot the Mortgagee. or otberwise. may be made eitber prios to or after the due date of t6e Note or any other notea secured by this Mortgage, This Mor~gage is given tor the specitic purpose ot securina any and all indebtedness by the Mortgagor to Mortgagee (but in no event ehall tt~e secured indebtednese ezceed at any time the nna:imum principal amount set forth in this para8rap6) in whgtev~er manner Wis indebtedneas may be evidenced oT repreeented, until this Mortgage is satistied ot record. Ail coven- anls and asreements contained in this Mortgage shall be applicable to all further advances made by Mortgagee to Mortgagor under this future advance clause. 16. No delay by Mottgagee in e=erciain6 any ri8ht or remedy bereunder, or otherwise attonied by law, ehaU operate as a waiver thereof or pteclude ti~e exercise thereof during the continuance ot ~ny detault hereunder. No waivet by Modgagee of any detault ahal) constitute a waiver ot or consent to aubeequsnt defaulta. No tailure of Mortgagee to e:erci~e any option herein given lo accelerete matutity of the debt hereby secured. no forbearance by Mortgagee before or atter the e:erciae ot aucb option and uo withdrawal or a6andonment o[ forecfoeure prooeeding by Mortgagee aha11 be taken or con- strued aa a wai~rer of ib right to ezercise such option or to aecelerate ihe maturity of the.debt hereby aecured by reaeon ot any past. preseat or futare detau?t on the part of Mortgagor; and, in like manner, the procurement of insurence or the pay- ment o[ tazes or other Uens or chargea by Mortgagee ehall not be taken or construed as a waiver of ita right to accelerate the matutity of the debt hereby secuted. _ ~ 19. Without a[tecting the liability ot Mortgagor or any other pe~son (e:cept any petson expreesly releaaed in writing) (or payment oi any indebtedneas aecured hereby or for performance of any obligation contained herein. and without atfect- ing the righta of Mortgsgee with respect to aay aecurity not espreesly releaeed in writing. Mortqagee may. at any time and from time to time. either before or siter the maturify of eaid note, and wit}wut notice or consent: (a) Rete~aee any peraon liable tor p~eyment of all or any part of the indebtedness or tor perforn?ance ot any obligation_ (b) Make any agreement e:tending the time or otherwiae altesing the terms of, payment of ali `or any part ot the indebtedt~e, or awditying or waiving any obligation, or subordiry~ting„ modifying or otherwise _ dealing with the lien or c6aree hereof. . . (c) E:ercise or retrain from exercising or waive any right Mortgagee may t~ave. (d) Accept additional security of eny kind. . ~ (e) Release or otherwiee deai v~ith any property, real or person8l, securing the ;ndebtednese, includinK all or any part ~ ot the Mortgaged Property. 18. My ~greement hereatter made by Mortgagor and Mortgagee purauant to this mortgage shall be superior to the righta at We ~older of any intetvening lien or encutnbrance. 19. Mortgagor hereby waivea all right of homeatead e:emption. if any, in the Mortgaged Property. 20. In t6e event of rnndemnation proc~eedings of the Mortgaged Property, t6e award or compensation payable there- • under is hereby assigned to and shall be paid to Mortga~ee. Mortgagee shall be under no obligation to question the amount of any euch award or oompe~ation and may accept the same in the amount in which tbe eame shall be paid. In any such co~demnation proceedings, MortBaBee may be represented by counsel selected by Mortgagee. The proceeds of any awacd or compensation so received shall, et t6e option of Mortgagee, either be applied to the prepayment o( tLe Note and ~at the rate of idterest provided therein, regardlese ot tlie rate ot interest payable on the award by the condemning aut6ority, or at the option of Mortgagee, such award shall be paid over to Mortgagor for restoration of the Mortgaged Property. 21. If Mortgagee, pursuant to a construetion loan agreement or loan commitment made by Mortgsaee with Mortgagor, agreea to make construction loan advance~ up to t6e principal amourito[ f,~e ~ote, then M@rt6agor hereby oovenants t1~at it will comply with all of tbe terms. provisiona and covenanta. of said construction loan agreement or loan rnmmitmenk will ditigendy conatruc! t6e imprnv~ementa to be built pursuant to the terms thereof, all of the terms thereof w6ich are in- corporated berein by reference as though aet farth fully herein and wiU permit no defaulta to occur thereunder and if a de- fault alu~ll occur tbereunder, it shall conetitute a detault under this Mortgage and the i~'ote. . 22 . At the. option ot Mortgagee, Mortgagor al~all provide Mortgagee witb periodic certified audited statementa of the Gnancial rnndition of Mortgagor. 23. Mortgagor repreaents and warranta that it a rnrporetion, it is duly organiud and vaiidly ezistiag, in good stand- ing>under tbe laws of the state of ite incorporation, has stock outetanding which hsa been duly and validly iasued, and i4 qualified to do busipess and is in good atanding in the 3tate of Florida. with tull pawer and authority to consunumate the . loan contemplated hereby; and, if a partnership. it is duly tormed and validly e=isting, and is fully qualified to do basinesa • _ in tbe State o[ Florida; with full power and authority to consummate the loan contemplated bereby. ?A. In the event any one or more of the pmvisions rnntained in thia Mortgage or in the Note ahall tor any reason be held to be invalid, illegal or unentorceaMe in any respect: sncb invalidity. illegality or unentorceeblity shall, at the option of tbe Moitgagee, not aftect any other provieio~ of this Mortgage, but this Mortgage shall be construed aa if such invalid, illegal or unenforceable provision 6ad never been coatained herein or therein. T6e total interest payable pursuant to the Note or tbis Mortgage a6a11 not in any one year e:ceed the hipthest law(ul rate of.intecest in the State of Florida. 25. Tbe covenants end agreemen'te 6erein oontained shall bind and We benefits and advantagea shall inure to the respective heizs. e:ecutots. adminiattators. ancceeeois, and assig~ of t6e Parties hereto. Wherever used, tbe ain8ular number shall iuclude the plural. t6e pturai tbe singular, and the uee vf any gender a6aU be applicable to all gendeis. All covenants, agreementa and uixfertaicings shall be joint and several. In t6e event additional nwmbered c.ovenanta or pare- grapbs are for convenience inserted in thie Mortgage, such additional covenanta sl,all be read and given eifect aa though following this covenant in consecutive order. ' ' . g~ 287 ~ lia . ~ _r~ - - _ - - _ - _