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Home My WebLink About0543 , ' . ' J ap~dy aui•1~ rents, isau~ac und proiita received by it on the indebtedness ~u~ed hereby in auch order as Mortgugee deter- minea. 1'he right to enter and tuke ~x~.asc~ion o( thN 111ortRa?gc~ci Pro~~erty, to manage z~nd oper.zte the ~im~, und to colle~•t the renta, issuc+e ~nd protita thereof, whether by ~ rereiver or olhemiae, atwll be cumulati~~e to uny uther right or rrmcdy hemunder or attotded by law, and may be exercieed concurrently ther~with or indepenaent~? ~het~of. 111q~t~gee shall be liaible to airount only tor suct~ renta, issues and pro(ita actuulty received by Mottgagee. f' f ~ 14. It the indebtedness secured hereby is now or herea(ter turther secured hy chnitel mottgi~ges, security interesta, tinnncing statemenla, pledges, contracta of guare~~ty, aesignmenta o[ (eASes, or other eecuritiea, or if the Mortgagec! Pro- 4?rr~y her~by encumbered consists of more tlwn one {wn~e) o[ real property, Mortgngee may at its option ezhaust any one or more ot suid securilies and eecurity hereunder, or such parcels ot the aecurity hereunder, eilher concutreMly or inde- pendently, and in such order as it mny determine. • 15. TAia Morigage ahull aecure not only existing indebtedneaa, but also sucb future advances, whether auch udvances are obligatory or to be made at the op/ion ot Mortgngee, or othemise. as are made within twenty (20) yepta from the dnte hereof. to ihe eame extent as if auch futut~e advAnc~es were mude on the date ot the e:ecution oJ his Morigage, iwt such e secured indebtedness shal) ttot ezi~c{ed at any time the ma:imum principal amouM ot = N A plus interest, und any disbursements made for the ~wyment ot taxes, leviee, or inauranre, on the Mortgaged Property, with interest on such diabursements. Any such (uture advances, whether obligatory or to he made nt the option of the Mortgagee, or otherwi~e, may be made either prior to or atter ihe due date of the Note or any other notes secured by this Mortgage. This 1ltorigage is given tor the specific purpose of aecuring any ~nd all indebtednesa by the MoHgagor to MortB~R~ (but in no eve~t shall the aecured indebtedness ezceed at any time the ma:imum principal amount set torih in this parugr.~ph) in w•hatever manner this indeblednea4 may be evidem~ed or rnpresented, until this Mortguge is satisfied of record. Alf co~•en- ants and agreementa contained in this Mortgage sh~l) he applicable to , a1) turther advnnres mF~fe by I~ortgagee to Mortgagor under this future advance clause_ - 16. No delay by Mortgegee in exerciaing nny right or remedy hereunder, or otherwise at(orded by~law, ahaU operate as u waiver thereof or preclude the e:emiae thereof during the continuance ot any default hereunder. No waiver by Mortgagee of any default ahull constitute a waiver of or consettt to subsequent deiaults_ No failure of Mortgagee to exemise ~ any option herein given fo accelerate maturity of ihe debt hereby secured, no torhearance by Mortgagee hetor8 or atter the exerrise ot auch option and no withdrawal or abandonmeot of foreciosure pra~eeding by Morigagee stwil be taken or con- strued as a waiver oi its right to exemise auch option or to aocelerute the mnturity of the debt hereby secured by reason ot ~ny ~x~t, present or tuture detault on the pnrt o[ Morigagor; and, in like manner, t6e procumment of insurance or the {~ay- ment of taxes or other liena or charges by 111ortg~+gee shal! not be taken or ronsirued .is a w:~iver ot its right to .~cceler.?te the maturity of the debt hereby secured. 17. Without af[ecting the liabitity of b'lorfgagor or any other person (excep! any ~~erson expressly released in writing) ~ for payment of any indebtedness secured hereby or for pertormance of any obligation contained herein, and without a(tect- ing the rights of Mortgagee with res~t to any security not eapressly released in writing, Aiortgagee may, at .iny time ~nd from time to time, either betore or after the maturity ot said note, and ~vithout notice or consent: (a) Release any person liable (or payment ot all or any ~~a,rt of the indebtedness or tor performance of any obligation. ~b) 1liake any agreement eYtending the time or otherwise altering the terms of payment of all or any part o[ the indebtedness, or moditying or waiving any obligation, or sulx~rdinating, moditying or otherwise deaiing with the lien or charge hereof. (c) Exercise or reftain tmm exercising or wai~~e any right Mortgagee may ha~•e_ (d) Accept additional security ot any kind. . (e) Release or othemise deal with any property, reai or personal, securing the indebtednese, including all or any parl ~ ' of the Mortgaged Properiy. 18. Any agreement hereafter made by Mortgagor and :~lortgagee pursuant to this mort~aRe shall be superior to the rights ot the holder ot any intervening lien or encvmbrance_ 19. Mortgagor hereby wai~•es all right ot homestead exemption, i( any, in the Morigaqed Ptoperly. 20. In the event of condemnation proceedings of the Mortgaged Property, the award or compensation payable there- under is hereby assigned to and shall be paid to Mortgagee_ Mortgagee shall be under no obligation to question the amount of any such award or compenr•ation and may accept the same in the amount in which the same shaU be paid. In any such condemnation proceedings, Mortgagee may be represented lry counsel selected by Mortgagee. The pra~eeds of any award or rnmpensation so nreived shall, at the option of Mortgagee, either be applied to the prepayment of the Note and at the rate of interest pro~~ded therein, rngardles,s of the rate of interest payable on the award by the condemning authority, or at the option of Mortgagee, such award shall he paed over !o Mortgagor tor restoration of the Mortgaged Pro~ierty. 21. If Mortgagee, pursuant to a construction loan :~greement or loan commitment made by Mortgagee with 1liortgagor. agrees to make construction toan advanres up to the principal amount of the-1liote, then Mortgagor hereby covenants that it will comply with all of the terms, provisions and covenants of said construction loan agreemenY or loan cotntnitment, will diligently construct the improvements to be built parsuant to the_ terma thereoi, all of the terms tbereof which are in- corporated herein by rn(ernnce as though set torth fuliy herein and wili permit no defaults to occur thernunder and if a de- fault shall occur thereander, it shall constitute a default under this hlortgage and the Note. 22. At the option of Mortgagee, Mortgagor shall provide Mnrtgagee with periodic certi(ied audited statements of the ?in:~ncia! condilion of Mortgagor. 23. Mortgagor represents and warrants that if a cor~wration, it is duly organized and validly ezisting, in good stand- ing under the laws of the atate of its incorporalion, has stock outstanding which has been duly and ~~alidly isgued, and is qualified to do business and is in good standing in the State of Florida, with tull power and authority to consummate the loan contemplated hereby: and, it a parinersfiip, it is duly formed and validly existing, and is tuily qualitied to do business in the State of Florida; with tull power and authority to consummate the loan contemplated heretry. 24. In the event any one or more of the provisions contained in this Mortgage or in the Note shall !or any reason be held to be invaled, illegal or unentorceable in a~+ respect, such invalidity, illegality or unenforreablity shall, at the option of ihe Mortgagee, not a(tect any other provisions o( this 111ortgage, but thia Dlortgage sha11 be consirued tss if such in~•alid, illegal or unenforceable provision 1?ad never been contained herein ot therein. The total interest payable pu~suant to the IYote or this Mortgage ahall not in any one year exc~eed the highest lawtul rate of interest in the State of Florida. 25. The covenanta and agreementa herein containecl ahall bind and the benefita and advantages shaq inure to the respeclive heirs, executors, administraiors, successors, and assigns of the parties hereto. Wherever used, the si~gular number shall include the plural, the plural tbe singular, and the use ot any gender ahall be applicable to all gendere. All covenanta, agreementB and undertekinga shall be joint and several. In the event additional numbered covenants or para- grapha are for convenience inaerted in this Mortgage, such additional co~-enants sha11 be read and given e(tect as though following this covenant in consecutive order. 80~ 293 ~ 5~~3 } i ~ _ . W ~..._s~~' ~ ~ Y - 1~ -z _ ' f - . . _ _ _ " - ~ . . ~r-~ ~ ~ ~s~ s~: _ <a.3'"-c:~.°z . . . .,.~e-- - ,q~ r u_ - . .--1:.~. - . ....r~R-~'-. _e - , '°,.~~.y.'.a~s