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Home My WebLink About0675 { :~~,~~h :u~•h rt•nt., ~+.u~•s .~ud ~,rolita recrived bv il un the~ indebt~Ylnt~xx .u~•ured hemb~ in vu~•h ord~•r ~iurt~;ati.r~ d~•~~•r, _ uu~u•s. '1'h~~ ri~;ht tu ~~nt~~r :~nd I:~k~~ ~NIti,CP~~IUII U( ~~1P A1u~l~;a~;~vt {'ru~x•rty. to m:inn~;r :~nd o~x•r.~l~• th~• ~:~iuc~, :~nd to ~•ull~•~•t thr rents, iusuea :uid pn?lita ihen~?t. whethe~ by u rc~•civer ur othen~i~e, shull iw~ rumululi~•e to any uther riKht or mrn~•dy he•mund~~r ur :?(funlrrl by la~w, and m~~y IK~ exrn•~u~i cuncurmnUy themwith ur inde~mndently thercti?f. 1~lortgaK~~~ 4hall I~e Ii:iLl~• to ucrounl unly for such mnls, issuca uod protits actu~~lly nti•ri~•.~d by Morlgugr~. 14. !t the inde6trcJnc~ s~~c•un~l hembr is now or hrrc~u(ter (urther ~~e•unyi Iry ch:~ttel murlKaK~~, s~ti•urity intemsts, Gni~nc~nK slatementa, plc~lg~w, ~~c~ntracta of guar.~nty, :~suignmentH of le:~u~, or other securities, or i( the Mor1Ki~Rc~l Pn~- ~x~ty herel?y encumtxmd iY~n~ists ot more than one ~?:?rcel ut m:d pro{irrty, 1~lortgagec m:~y a~l its uption rxh.wst any one or ~nore o( u~id ~•urilit~ :~nd seK•urity hemunder, o~ su~•h ~ku~rls ot the se~•urity henunder, cither ~•oncurn•nUy or inde- ~x~ndenUy, und in xu~•h orcler us il may deterniine. 15. Thie 111ortKage shall sc~cvre not only existinK indebtedne~, bul s?!so auch future :~dvam•c~s, whether sui•h :~dv:+neer, an• oblig.itory or to tx• mude at the option o( AfortguKc~e, or othenvise, as am made within twenty (20) yeara from th~ date hernot, to the w~me exteM :~s it xuch tutum ad~•:~n~rs wem made on the date o( the rxec•ution of this MortgaRe, bul su~•h ~•unKl indrbt~vlness shull not excced at ainy time the maximum prin~i~~.~l umount o( 5~ On~ _ n~ plus intenst, nnd :~ny disburs~r.~a~ls mude for the ~k~ym~~nt ot tuxes, Ievi~w, or insur.~nce, on fhe A1ortR:+KcK1 Pm~?erty, wilh intrn~st on such disbursements. Any such fatum advances, whether ot?ligatory or to t~e mt~de a?t the option of the 111ortgaK~r, ur othenvise, may i~e made eithrr prior to or aRer 1he due date uf the Note or uny other notes sc~•ured by this lUort~;agr. This 1~1ortKaKe is Kicen tor the slxti•i(ic pur~~ose of sc~•urinR uny :~nJ all indebtc*dnes~ hy Ihe I11ortKaKor to T1ort~:iKre Ibt~t in no event shull the secured indebtedness excec~d:~t any time the m:~ximum prim•ipal :~muunt set foHh in this ~?:~r.ixraph) in whatever mm~ner thiK indNbtednes~ muy t~e eviden~•cY1 or repn~sc~nl~Yl, until this AlortgaRe ik s:~tisfieif ot n~nrd. All ~-o~~en- :ints und .~grecmenta cont.iined in this i11oHR:~Re sh:~ll t?c applirahl~~ to all further advan~~es m:~de by 1~tort~aKc~ lo AtortKaRor under this (uture s~dvaneY clause. 1G. No deluy by Alortgagee in exerci~ing a~ny right or remcdy hemunder, or othem•iae i1~~0i(~P(I ~y Ii1N', sh:ill u~~erate .is a wai~~er thereof or preclude the E:xercise therc~f during the i•ontinuance ot any default hereunder. No wairer by \foNgaKee of a~y defuult sh:ill ~~onstitute a wt~iver o[ or consent to sul~uryuent detaults. No Iailure ot Alortgagee lo exPrciu• uny option herein gi~~en to .~cirler~te maturity of the debt hereby seivred, no forbearam~e 1?y MorlguRee before or atter thr exercise of such option :~nd no withdr.?wul ur atwndonment of torrclosure proc•eeding by 111ortgaRee sh~ll l,e taken ~or con- stru~d ns a waiver of ils right to exercige such option or tu a~ccelente the m:~turily of the debt hcmhy ~•umd by reason ol an~• ~msf, pn:unt or futum def~~ult on the ~u~rt of hlortKaRor; and, in like m:~nn~r, the pra•urnment ot insar.mir or the ~r.ry- men! of taxes or other liens or ~•hurKas by 111ortg:~K~~~ shall not 1~ taken or ~~~~nstnied as :i w:~i~~er of its ri~ht to a~•~•c•1~•r.?1~• the m:~turitv of !he debt herebv sE~•urc~ci. 1T. Without affeetinR the liability oi Mortgr~Qor or any other ~x~rson (except anv ~xrson expressly rele.ised in writinQ) for ~x~yment o( any indebtc~clness scti•ured hereby or for ~~erfomu~nce of any obligntion contained herein, and without :Jfc~•t- inR the rights of T1ortRagee N•ith resE~•t to a~ny sc~•urily not ezpressly released in wtiting, Murtg+~gee may, at .~ny time :~nd fmm time to time, either 1?efore or ~tter the maturity of said note, :ind wilhout noticr or rnnsent: la) Relea~e any ~ier~n liable tor ~kiyment of al) or any {~:~rt of the indebtednc~rs or for ~x:r(orm:~nce ot any obliRation_ (b) Make any a~teement exte~dinR the time or othen+ise :~IterinR the terrv~s of ~u~yment of all or :~ny p:~rt o( fhe indebtedness, or modifyinR or waiving ~ny obligation, or suFx~rclinatinR, mrxlifyinR or othenvise dealinR K•ith fhe lien or charge hereof. Ic) Exercise or refr.~in (rom exercising or w:~i~•e anv riKht ~1torlRaR~r may ha~~~•. Id1 Accrpt additional security o( any kind. le) Rele:+se or othen~~is~~ dral w•ith any prc?{~erty, real or ~x~rsonaL secvrinR thc indebteclness, inc•IudinR all or an_r- I?~~rt of the 1lfort~aged Property. iK. Any agmemrnt hereatter made by A1ortRagor and ~tor1Q:?K~ pursuant lo this mortRaRe shall Ix~ su~~erior to th~• riRht~ of the holder of any inten•eninR lien or encumbr.ince_ 19. ~1ort~aRor hemby w.~ives a11 riRM ot homestead exemption, it :my, in the Atort~;aRc~1 Ym~x•rty. 20. In the event o( condemnation pr«•redings of the Mortgaged Yroperty, the award or com~~ens:~tion ~k~yable fhere- under is hereby assigned to and shall i~ ~k~id to tllortKagee. Atortgagee shaU tie under no oblig~tion to question the amount ~ o( any such aw~ard or com~~ensation a~d m:iy accept thc same in the amount in which the same sh:dl be paid. in any such i ~•ondemnation proceedings. :~ior1R:~Ree may i~e repre~enle~d try counsrl selected by htoriRe~gee. The prcx•eeds of an>• a~•ard or ~•om~~ena~tion so receivecl shall, at the option of MortQaKee, either be applied to the pre~~ayment of the Note and at the ~ rate of intemst pmvidecf therein, re~urdlrss o( the r.ite of interest ~k~yable on the aw~:~rd by the rondemning authority, or :~t ~ Ihe option of ~tortR.~Rcr. su~~h av~~ard sh:ill he ~~~id over to A1orl~aRor (or restor.~tion of the MortgaRed Pro~~erty. j 21. I( ~1ortRaRee, pursuant to a construction Ick+n :~Kreement or Im~n commitmen! made by 1~lortgagee with 2~lortgagor, i :~Kre~~ lu n~kr cor~struction lo:in ad~:~n~•es up io the ~~rinr•ii~.~l amovnt of the ;\ote, then ~iortgaqor hereby co~•enants th~t it f wil) comply N'ith all o( the terms, provi~ions and cm•enants of s:~id constru~tion lo:~n :~Rreement or lain commitment, w•ill ! diliRenNy construct the improvements to be built pursuant to the terms thereof_ all of the terms thereof whi~h are in- f cory«~rated hemin hy n terence as thouRh set forth fulh~ hrmin and W~ill Ex~rmit no defaults to oci•ur thereonder and i( a de- lault shall ~x-cur thereunder, it shall constitute de(ault under this AtortKaRe and the Note. ~ 2'l. At the option of Alortgagee, :~iortgagor shall pro~~ide 19ortRaKee with periodic certi(ied audited statements o( thr ~ iin:~ncial condition o( 1~1ort~aRor_ j 23. 111ortgaKor represents and w~:irr.~nts that if a i•or~wr.~tion, it is duly orRanizcd .ind validly existinR, in Q~xx1 st:ind- s ~n~ onder the laws of the state of its in~•onx,r:~tion, h:~s stni~k outstandinR which h:~s been duly and ~•alidly is~ued, :~nd is ~ qualifietl to do business and is in K~wd slandinR in the StatE~ of Florid:~. with full ~?ower and~authority to consummate the loan contemplated hereby: and. if a~ partnership, it is duly form~~c1 and ~:~lidly existin~;, and is fully qualified to do business in the State of Florida; with (ull ~~ow•er and authority to ~•onsummate the loan contemplated hereby. ; 'l4. In the e~~ent any one or more ot the pro~isions rontainrd in this Mortg~ge or in the Note shall for any reason ~ Ix• held to I~e invalid, illeRal or unen(omeable in any res~~•t, such invalidity, illegality or unenforceablity shall, al the ~ oplion of the ;11ortRaKre, not ai(~c•t :u~y other pro~~isions of this AtortRaRe, but this AlortgnKe sh:~ll be construed ~s i( such ~ emalid, illeKal or unenfor~•eable ~~m~•ixion h.id ne~~•r 1~n cont~~ined herein or therein. The total interest payable {~urxuanf ~ to the Note or this 11ortKaKe shall not in any one yE~ar ex~•etK1 the hiRhest lawful rate of intemst in the Statr of Fl~~rida. ~ 2b. The co~~enants and agreements herein cont:~ineci sh:~ll I~ind and the tienefits and ad~:~ntages shal) inure to the ~ ms~~ec•ti~•e hrirs, executors, sidministritors, succ~~swrs. and :~~~iKns of the paHies hereto. Where~~er used, the sinRular ~ numt~er ~tmll include the plural, the ~dural the sinRular. :+nd the use of any Kender sh:~ll be appli~:~ble to all genders. AI! covenants, agreements and undert~kinga shall tie joint and se~~er.il. In the e~•ent addition.~l numherPCf covenants or ~k~ra- Kraphs are for convenience inserted in this :11ortRaRe. such addition.~l ~•ovenants shall F?e read and Ri~•en effect as thouRh follnwinq this co~~enant in consecuti~r order. ~ -3- r 4 ~ ?'~~.c ~ ~'l5 ~ ~ ~ _ - - - - ~r - : ' ~ ~ ~ ~ ~s~.`~'~~~~ ~ . ~ ~ . ~r ~ : ~ .