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Home My WebLink About0229 .~~i~dy auch n~ntr. issu~•s und pMbtits received 1?v it on the in~L~l~t.cfn.~s ~c~.•un~ci heKly in su~~h urd~•r :~s 111or1~;:iKer• d~~te•r- uu~u•s. '!'he right tu ~•nt~~r :~nd tuke ~x~:tisiun uf lhe I~1o~tgaK~r1 1'ro~?erly. !o nu~n:~ge :~nd o~x:r:~tc the w~me, und to culli•~•t thP n•nts, ia+uea und profits thenr,t, whethrr by u rc~ricer o~ otheM•ixe, ahull I~e cumulutive t~? uny other right ur n•~n.•dy he~eu~~der or :~((ord~~l by luw, und muy 1?t exer~•i~~f c~ncurn~ntly Ihen+N•~th or inde~x~ndently the~nuf. I~1oHRaK~~• sh:?11 1~ linble to eu•~~ount unly tor r~uch renls, issu~ und proliie au•tually rec•civ~d t,y Martgugee. 14. it the indebtedn~~:a sc~•un~l hemby is now or hereuher fuMher st~cured by ~•hnttel mortguKea, s~n•u~ity inten~sts, finuncing stutements, pleclgcw, rnntrncts of guurunty, assignments ot leases, or othe~ securilies, or if the MortRuged Ym- ~xrty hereby encuml~ercd consists o( more th:?n one {xin~cl o( reul pro{xrty, I?4ortg:igee nu~y ut its uption eahuust uny une ur mom at se~id securities und se~•urity hereunder, or surh ~?anrls o( the sc~•urity hemunder, either i•onivrmntly or inde- ~x ndently, a~nd in su~•h order ns it muy detern~ine. 15. This I~iortBage shail secure not ooly existinR indebtedness, but also such (uture ud~~i~n~rs, whethe~ such :~dvuncc~x ure obligidory or to be mude at the option of Mortgugre, or othenvise, as nm mtide wifhin twenty l:-K1) yea~a (mm the datc hen•of, to the same extent .~s i[ such future adv.?nirs wem made on the date ot the execution ot this MorigaKe, but such se~•ured indebteJness stu~ll not e:ceed at any time the mr~ximum princi~~al amount of S -~T~n plus intemst, .~nd uny dishursements made (or ihe ~~yment ot taxes, levies, or insurance, on the rlortgaged Pro{~erly, w•ith intenst on such disbursements_ Any such (utum ndvnn~~es, wheiher obliRntory or to be maide at the uption of the MortR:iK~'. ur otherwise, may he mude either prior to or aftec the due date of lhe Note or nny other notes secured by this rlortRuRe. 7'his Mortgage is given (or the s~itic pur~~ose ot securing s~ny and ull indeblednesY by the MortgaRor to MortR:~Ree (hut in no e~-ant shull the ~rured indebtedneas e:ceed ~t ainy time the m:iximum princi~k~l :~mount set forth in this ~?:~r.~Kraph) in whatever manner this indebtedness may be evidenced or represented, until this Mo~tKuge is s:+tis(ied ot rc~c•ord. All ~roren- :?nts .~nd agreements contnined in thia Mortguge shall he applic:~ble to all further :~d~~ani•es mude by A1oriK:~Kcr to AtortR:~gor under this (utuce advance clauae. 16. No delay by Mortg~gee in exercising uny riRht or remedy hereunder, or other~•ise aftorded by law, shtill ~~~er~te :is n w•i~iver thereof or E~reclude the eYeni~e thetcwf during the continuance of any defAUlt hereunder. No waiver by Murtgagee of any detault shall ronslitute t~ waiver o( or consent to sul~sequent de(uults. No (ailure ot Mortgagee to eYercice uny option herein gi~~en to ~~ccelemte maturity of the deht hereby sc~•ured, no forlx~arnnce by Mortgagee betore or atler the exrrcise of such option and no withdrnwal or atiandonment of fomclosure proceeding by Morigaqee sh:ill t~e lvken or ~•on- slrued as a waiver of its riRht to eYercise such option or to ~ccelente the maturity of the debt hemby secured by mason ol :~ny ~u?sl, preaent or future defaull on the part oi ~1ortRaRor: and, in like m.~nner, the proi•uremenl ot insurance or the jk~y- ment of taxes or other liens or ~•h.~rRes by 1~1ort~a~ee shall not 1?e t:?ken or .•ons:truecl a~s a•.iiver of its riRht t~, ai•~•elernte~ the au~turity oI the debt hemby sc~•ured. 17. Withoul a(fecting the liability of hloHgaRor or any other ~~erson lexcrl,t any ~~erson expres~ly releasecl in N~ritinRl tor ~k~yment of any indebtedness securecl hereby or for ~~erformance of any obligafion cont.~ined hemin, :ind v?•ithout :dtev1- ing the rights of 11~ortgagee with res~?ec•t to any security not expressly released in writing, MortRaRee may, at any time and from time to time, either t?efore or after the maturity of said note, :~nd K~ithout notice or consent: (a) Rele:~se any ~~erson liable for ~~yment of ull or any p.+rt o[.the indebtedness or for pertormaner of any obligation. (b)~ Make any aRreement extendin~ the time or othemise altering the terms of ~x~yment of aU or any Fk~rt ot the • indebtedness, or modifying or waiving any oblig:~tion, or subordinatinR, modifyinR or othemise dealing with the liel~ or charge hereof. ~ (c) Exen•ise or m(rain (rom exercising or waire any ri~ht R1ortR:+~;ee may h:~ve. (d) Accept additional sec-urity of any kind. - (e) Release or othenvise dea) H~ith any pro~~erty, real or ~~ersonal, securing the indebtedness, includin~ :~ll or an~• ~k~rt of the 111ortgaged Pro~~erty. 18. Any agreement hemafter made hy 111ortgagor and ;~1ort~aRee pursuant to this mortR:~Re sh.~ll tx~ su~x~rinr tq the riRhls oi the holder of any inten~ening lien or encumbrance_ ~ 19. Mort~a~or hereby wai~•es all riRht of homestead exemption, if any, in the MortRaKed Pro~~erty. ~ 20. In the event ot condemnation pr«•eedings of the Morfgaged Property, the award or comE~ensation payable there- under is hereby assigned to and shall t~e µ~id to Mortgagee. htorlgagee shal) be under no obligation to question the amount ~ ot any Quch award or com~~ensation and may accept the same in the amount in which the same shall t?e ~k~id. In any such ~ condemnation pra-eedings, hioHgaRee may be represented by counsel selected by Mortg.igee. The proceeds of any awarcl ; or compensation so rec•eived shall, at the option of Alortg:~gee, either be applied to the prepayment of the Note and at the i rate of interest pm~~ided themin, regardless of the rate of interest payable on the awarcl by the condemning authority, or at ~ the option of Mortgagee, such award sh.ill i~e ~k~id over to 1~lortgaRor for restontion ot the Morigaged Pro~~erty. t p 21. If ltortg.igee, pursuant to a canstruction h~n agreement or loan commitment made by Alortgagee K•ith Alortg:~gor, ~ agrees to m:ake construction loan ad~~ances up to the principal amount o( the Nofe, then Mortgagor hereby cove~ants that it ~ will ~~mply with all of the terms, provisions and coven:tnts o( said construction loan agreement or lo:~n c-ommitment, w•ill ~ diliRently construM the impmvements to be built pursuant to the terms thereof, all of the terms thereof which are in- ~ cor~~orated hemin by reference as though set forth fully hemin and will permif no de(aults to oceur thereunder and if a de- ~ iault ~hall occur thereunder, it shall constitute a default under this Mortgage and fhe Note. ~ 22. At the option of 1Nortga~ee. ~1ort~aRor shall pr.~.~ide MortRaQee with pericxiic ~~erti(ied auditecl statements of the ~ (inancial condilion ot btortgagor. 23. Mortgagor represents and w•arrants that if a i~or~wr.~tion, it is duly organized and ~•alidly exislinR, in good stand- ~ _ inQ under the law~s of the state of its inc~or~~or.~tion, has sto~•k outstandinq which has been duly and ?:~lidly issued, and is yualified to do business and is in good standing in the State of Florida, with tull {~ower and authorily to ronsummate the o-~ la~n contemplated hereby; and, it a ~kirtnenhip, it is duly (oimed :~nd validly existing, and is fully qualified to do business ~ in the State o( Florida; with tull power and authority to consummate lhe loan contemplated hemby. ~ 'L4. In the e~•ent any one or mom of the provisions coniained in this 14tortgage or in the Note shall for any reason iie held to I~e im•.ilid, illeRal or unenforceable in any res~~ect, such invalidity, illegality or unen(orceahlity shall, at the option of the ~lortg.~Ree, not affect any other provisions of this rtortgage, but this biortgage shall be construed as i( such im•alid, illeKal or unentorceable provision had never been contained herein or themin. The tota) interest payable pursuant to the Note or this Ltort~age shall not in any one ye:~r exceeci the highest lawful rate of interest in the State of Florida. - '1:,. The i•ovenants and agreements herein contained shajl bind and the 1>enefits and advantages shall inure to the res~x~•ti~•e heirs, exe~vtors, administratois, successors. :~nd assiRns of the parties hereto. N~'herever used, the sinRular W' numl?er shal) include the plural, the plural the si~~ular. :~nd the use of any gender shall be .y~plicable to all ~enders. All covenants, agreements and undertakinga stwll t~e joint and several. In the event additional numbered cm•enants or para- - graphs are tor convenience inserted in this A4ortQage, such additional co~•enants shall be mad and Qi~•en etfect as thouRh follow•ing this co~~enant in consecutice order. ~ ~ ~ -3- R ~~z Fa 229 ~ $J~i~ ~ ~ ..f: ' . _ _ ' " _ ~ ; - ~ ~ ~ . _ ~ y ti ~~sm '~"s+~. Ya~-~;~~'~£„'d'GeY~- , f ~ 4 ~,~w . ~""~s'~~ y°'rd"+C4 n.'~'~ ,'~'a.~ a~_~ ~ ~ ~ ' .~~~~~~3 "~^a~~ ~ ~ ~„e¢~f'5~--~.~°S'~a..~r~.s'.,~~~ca".,~"s`~,I~~ ~;3