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Home My WebLink About0450 apply such ~nts, iasur~ und proti4 nreived by it on the indebtedne~s secured hereby in such order nr Mortg~gee dete~- tnine,f. The right to enter and tuke poase~iott ot the Mortgaged Ym{ierty, to manage and operute the ~ame; and to coilect the renta. iwues at~ protjb ~wteof~.w~p~her by a t~eceiver or othetwiae, shull be cumulative to Any olhet right or remedy . hereunder or pttorde~t~?: law~ and ~e e:eniaed concutrently tberewith or independently thercot. Morteagce r~hhull be liable to account only to~ auch rents, iasues and protits ectually received by Mortgagee: . ~ 14. If the indebtedness szcurcd hereby ia now or hereafter tu~ther secured by chattel moHgages, security intereats, finanring statements, pledges, contracts ot guarunty, aeaignments ot leases, or other securitie~, or if the Mortgaged Pro- {~[lY t16t'Cby OI~CUCU~Pr~ COnni~ta oI Morn thnn one nrt ~ n~u~l ~mr~.+rtv Mer~o~.,p- ~qy~.__ or more o[ aaid securitiee ~nd security hereunder. or such parcels ot the security hereunder, either concurrer~tly or inde- pendenUy, and in such order as it may determine. 15. 7'his Mortgage shall eecure not only esisting indebtedness, but ateo auch tuture udvancee, whether such udvancea are obligatory or to be made at the option ot MorlgaBee, or otherwise, as are made within twenty (20) yeats from the date hereot. to, the same e:tent as it auch tuture advances were mado on tho date of the execution of thia Morigage. hut aurh secured indebtedneas shall not e:ceed at any time the mn:imum principal aReoun! ot t- N/A plw iritereat, and nny disbursementa made tor the payment ot taxes, leyies, or inaurnnce. on the Mortgnged Ptoperty; with intereat on such diabutsementa. Any such tuture advances, whether obtigatory or to be made at the option of the MoHgagee, or otherwise, may be made either prior to or atter the due date of the Note or uny other notes aecured by this iNortgoge. Thia Mortgage is given (or the specific p~trpoee ot eecuring any and all indebtednesa by tbe Mortgagor to Mortgagee ibut in no event ahail the eecured indebtedness excre~! at any time the ma~cimum principal amount aet torih in thia ~aurngrnph) in whatever manner thia indebtednesa may bc evidenced or represented, until this Morlgage ia satistied of record. All coven- anta ~r~d agreeme~ta contuined in thia Mortguge abuli be appticable to all (urther advances rrtnde by MortgAgee to . Mortgagor under t61a tuture advance clawe. 16. NA delay by Mortgagee in exercising any right or t+emcdy hereunder, or othemise ufforded by law, afwll operate ua a wpiver thercwf or preclude the eYeeciae thereof during the continuance of any default herennder. No waiver by ~ blortgagee ot any detault shall constitute a waiver ot or conaent to aubeeque~t deinults. No tailute ot Mortgagee to exemise any option 6erein given to accelerate maturity of the debt hereby eecured, no torbearance by Mortgagee before or atter the e:erciee of such~ option atui no withdrawal or atrandonment of torecl~ure proceeding by Morigagee shall be taken or con- atrued ae a waiver of ita right to etercise such option or to accelernte the mnturity of the debt hereby secured by mason ot any past, present or tutute detault on the part ot Mortgagor: and, in like mt~nner, ihe prorurement of insurance or the pay- ment o[ tases or other liena or chargea by 111ortgagee slwll not be tuken •or construed as a wniver of its right to n~relernte the maturity of the debt hereby aecured. ~ ' 17. Without at(erting the liability ot Mortgagur or any other perss~on (except any prrson expres.4ly releused in writing) tor payment ot any indebtednesa securea hereby or for pertormance o( any obligation contained herein, and without a(tect- ing the rights ot Mortgagee with respect to any eecurify not e:preesly released in writing, Mortgagee mny, at ~ny time and irom time to time. either hefore or sfter the maturity ot eaid note, and vr~thout notice or conaent: (a) Release any pereoo liable to~ payment ot all or any part of the indebtedness or for per(ormance ot any obligation. (b) Make any agreement extending the time or otherwise altering the terms o( payment ot all or any part of the inde6tedness. or moditying or waiving any obligntion, or suMrdinating, modi(ying or otherwise dealinq with the lien ar charge hereof. (c) Ezemiee or refmin irdm exe~rieing o~ w~ive any right Mortqagee may hnve. (d) Accept additional aecurity ot any kind. Ee) Release or otherwise deal with any property, real or personal, securing the indebtednesa, including all or Hny part - of the 1~lortgaged Property. 18. Any agreement hereafter made by Mortgugor and 11~ortgaRee pursus~nt to thia mortgage shall be supetior to the rights of the holder of uny intervening lien or encumbrance. ' 19. Mottgagor hereby waivea aU right ot homeatead exemption, if any, in the Mort6abed Prapetly. ~ - 20. In the event oi condemnation proceedings o( the 111ortgaged Propetty~ the award or compensation payable.there- under is hereby assigned to and ahalt be paid to Mortgagee. Mortgagee shall be under no obli~tion to question the amount ot any auch award or compensation and may accept the earime in ihe amount in which the saQte shal) ba {raid. In any such condemnatioR proceedin$e, Mortgagee may be repreaented 1ry counsel selected by Mortgagee. Tbe proceeds o[ any award or compensatian eo received ahall, at the option ot Mortgagee, either be applied to the prepayment ot the Note and at the rate of interest pm~Zded therein, regardleas of the rate ot intereat payable. on t6e award by the condemning auihority, or at the option of Mortgagee, such award ahall tre paid over to Mortgagor !or testoration of the Mortgaged Pmperty. , 21. It Mostgagee, pursuant to a conetruction loan agream.ent or loan commitment made by Martga~ee with Murtgagot, agrees to meke conatruMian loan advunces up to the prin~tipal atnotutt of the Note, then Mortgagor hereby corenanta that it will oomply with al! of the terma, provisiona and covenants o~ seid construction toan agreement or loan commitment, will diligentiy conetruct the improvements to be built pursdent to the terms thereoi, all of tbe tertns thereo[ w6ich ate in- corEwreted herein by reterence as though eet torth [ully herein and will permit no defautta to occur thereunder and if a de- • fautt shall occur thereunder, it ahap rnnstitute a default under this Mortgnge and the Note. 22. At the opiion ot Mortgagee, Morlgagor shall ptovide 111ortgagee with periodic certified audited statements of thc financiai eondition of Mortgagor. ~ - 23. Mortgagor represents and warranta that if a corporation, it ia duly organized and ~validly e~sting, in good stand- ing under the lawa of the state of ita incor~wration, has stock outstanding which has been duly and validly issued, and is ' quali(ied to do twsinese and is in good standing in the State of Florida, with full power and authority to consummate the loan contemplated hereby; and, i( a partnerahip, it is duly fotmed and validly e:iating, anci is (uliy qualitied to do husiness in the 3tate of Fiorida; with full power and authority ~to oonsummate !he loan contemplated hereby. 24. In l6e event eny one or more o( the provisions contained in this Mortgage or in the Note ahall tor any reseon be held to be invaiid, itlegal or unenforceable in any reapect, aucb invalidity, illegality or unentorceablity shall. at the ' option of the Mortgagee, not attect any other provisions ot this Modgage~ but this Mortgage ahall be construed aa if auch invalid, illegal or unentorceable provision had never been contained herein or therein. The total intereat payable pu~suant to the Note or•tbia Mortgage ahall not in any one year exceed the highest lawful rate o( interest in tbe State of Florida. 25. Tbe covenanta and agreementa herein contained ahall bind and the benetita and advanfagea shall inure to the respecKive heirs, e:ecutora, administratora, auceeseors, and assigns of the parties hereto. Wherever used. the singular number ahall include the plural, the plural ihe aingular, and the use of any gender shaU be applicable to all gendere_ AU covenants, egreements and unclertakings ahall be joint and several. In the event additional numbered covenanta or para- graphs are [or rnnvenience inserted in thia Mortgage, suc6 additionat corenanfa ahal! be read and given e[fect as though following this covenant in conse~cutive order. _3- ~ 6uGK ~~~7 PAt;E ~47 ~ ~ ~ ~ _ - ~ , ~ ~ ~ ~ ~ ~ . _ ~ ~y .~~~~i~~ ` ~ ,E ~ ~,w' ~~'~"s~c