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Home My WebLink About0693 • ...~.a ~,.w ,~1' ~ ? appty xu~•h ~nts, issu~~s und pmiita nreived by it on the~indeMedneas secured hereby in such onler r~s Mortgugee deter- ~uines. 7'he right to ente~ and luke ~~o.4sesaion ot the Motlguged Pro~~rty, to mi~nuge and operule lhe eame, nnd to ~rolle~•t the re~is, isauee and protita thereof, whether by a rcti~eiver or otherwise, ahall be cumulative to any other right or rnmeciy hereuncie~ or A[forded by taw, and may tx~ exemised concurrently therewith or independently thereot. Morig,?gee ahall t?e li:~ble to account only for auch rents, iasuea and protits actually received by Morlgagee. 14. If the indehtedne8a secured hereby ia now or hrrrutier furtlier ~vred by chattel mort~lges, security intercwta, ~ financing utr~tements, plc~igea, contrncla ot guan~nty, ussignme~!s of leasea, or other securitiea, or it the Mortgaged Pro- peHy hereby encumbered consists oL arore than one pun~el ot reul properiy, Mortgagee may at ita option exhausl any one or more ot eaid secutitiea and security hereunder, or such parcela of the security hereunder, either concuirently or. inde- pendently. and io such order ae it muy determine. 15. ~1~~~ Morfgage ahiUf i?l.'l~~(~' (i(~~y% L'xiSiiii({ iiiCiLUW~Li4a1~ ui<< aiihr u•"L f.rs.1YM ~~~wpo' We~PfI~Ar R~~(`f~ H(~VAIICpR Are obligatory or to be rnbde at the option ot Mortgngee, or otherwiee. as are made within twenty (ZO) years from the date hereof, to the same exle~t as it such (uture advances were made on lhe date ot the execution of this Mortgage, but auch secured indebtednesa shall not exceed nt any time the maximum principal amount of S N/A plus iotereet, and any disbursementa roade for the pnyment of taxes, levies. or insurance, on the Mortgaged Property, with interest on such disbutsements. Any such tuture udvances, whether obligutory o~ to be made at the option ot the MoriRugee. or otherwise, muy be mude either prior to or atter the due date o( the Note or any other notes secured by this Mortgage. i This 1liortgage is given tor the specific purpose ot securing any and all indebtedness by the Mortgagor to Mortgagee (but . in no event shatl the secured indehtednea~s exceed at any time the maYimum principal nmount set forth in t6is paragniph) in xhatever manner thia indebtedness may .be evidenced or represented, until this Morigage is satis(ied ot record. All coven- ants and agreements contained in this Mottg~ge shall be Applicable to all further advances mnde by MortgAgee to Mortgagor under this tuture advance clause. ? 16. No detay by Mortgagee in exercising any right or remedy hereunder, or otherwise a(torded by taw, shall operate ~ as A waiver thereof or preclude ihe exercise therea[ during the contin~tance of any default hereunder. No waiver by ~ Mortgagee ot any deiault shall con.gtitute a waiver of or coneent to aubsequent detAUlta. No failure ot Mortgagee to e:ercise ; any option herein given to accelerate maturity of the debt hereby secured, no (orbearance by Mortgagee before or atter the exemise of such option and no withdrawal or Alwndopment o( forecloaure pta~eeding by Mori~agc~e sh,~11 taken ar roa ' strued as a waiver o[ ita right to ezeerise such oplion or to accelerate the maturity of the debt hereby sec~red by reason ot any past, present or tuture detault on the part of Mortgagor; And, in like manner, the procurnment of insurance or the ~y- ment of taxes or other liens ot charges by Mortgagee shull not be taken or construecl as a waiver ot its right to au-celer.ite j the maturity of the debt hereby secured... ~ ~ 17. Without affecting the liability ot Mortgagor or any other person lexce~~t any person expressly released in writing) z for payment ot any indebtedness secured hereby or tor performance of any obiigation contained herein, and without n(fec!- i ing the rights of Mortgagee with respect to any security not expressly released in writing. MortgaRee may, at :~ny time nnd ~ imm tune to time, either beforn or atter the maturity ot said note, nnd without notice or consent: + (ti) Release any person leable tor paymenf of all or any part of the indebtedness or tor per(ormance o( any obligation. (b) biake any agreement extending the time or otherwise altering the terms of payment of all or any part ot the indebtedt~eas, or modifying or waiving any obligation, ot subordinating, modifying or otherwise dealing with the lien or charge hereo(_ - . . ; (c) Eaerrisa or re(rain trom exemising ot waivc any right Mortgagee may hnve. ~ . ~ (d) Accep! additional serurity of any kind. ~ (e} Releaee or otherwise deal with any property, rea! or t~ersonal, securing the indebtedness, including all or any ~x~rl ~ o! the Mortgaged Pmperty. s` 18. Any agreement hemafier made hy Mortgagor and Mortgagee pursuant to this mortgage shall be su~~erior to the _ rights ot the holdet oi any inten~eninq lien or encumbrance_ r i 19. Mortgagor hereby waives a1! right of homestead exemption, if any, in the Aiortgaged Properiy. ~ Z0. In the event of condemnation proeeedings of the Mortgaged Pmnerty, !he award or compensation {wyable there- ' under is hereby assigned to and shall be paid to Mori~aRee. Mottgagee ahall be under no obligation to question the amount ~ of any suc6 award'or compensation and may accept the same in the amount in which the same shall be paid. In uny such ~ condemnation proc-eedings, Mortgagee may 6e represented by counsel selecied by Mortgagee. The proceeds of any award or compensation so rec~eived shall, at the option ot Mortgagee, either be applied to the prepayment of the Note and at the ~ rate of interest ro~~ded therein, regardless of the rate of interest d P payable on the award by the condemning authority, or at the~ o~~tion of Mortgagee, such award shall be paid over to Mortgagor for restoration of the Mortgaged Property. 21. It Mortgagee, pursu:?nt to a construction loan agreement or loan commitment made by Mortgagee with Mortgagor, agrees to m~ke construction loan adv~ances up to the prir~cipal amount of the Note, then Mortgagor hereby covenants that it will comply with all of the terms, provisions and covenants of said construction loan agreement or loan commitment, wil) ditigently consttuct the improvements to be built pursuant to the terms thereof, all of the terms thereof which are in- cor~~orated herein by reference as though set torth fully herein and will pernnit no detaults to occur themunder and it a de- fault shall occur theteunder, it shall constitute a de(ault under this Mortgage and the Note. 22. At the option ot Mortgagee, Mortgagor shall pro~•ide MortgaEee with periodic certitied audited statements ot the financial condition ot 1liortgagor. 4 23_ Mortgagor represents and warrants that if a cor~wration, it is duly organized and validly existing, in good atand- ~ ing under the laws o( the slate ot its incorporation, has stock outstanding which has been duly and validly issued, and is quaUfied to do business and is in good standing in the State of Florida, with full power and authority to consummate the loan contemplated hereby; and, if p partnership, it is duly formed and validly e=isting, and is tu11y qualified to do business in the State ot Florida; with (ull power and authority to consummate t6e loan contemplated hereby_ 24. In the event any one or more ot the pmvisions contained in this Mortgage or in the Note shall tor any reason F?e held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceablity ahali, at the option of t6e Mortgaqee, not a(fect any other pro~•isians o( this Mortgage, but this Mortgage ahal) be construed as if such } im•alid, illegal or unenforceable proviaion had ne~~er been contained herein or thereia The total interest payable pursuant F to the Note or tbia Mortgage r'••cll not in any one year e:ceed the highest lawfu! rate oi interest in the State of Florida. 25. The covenants and agreementa herein contained shall bind and the #~ene(ita and advantages shal) inure to the respective heirs, e:ecutorx, administratois, succes.gors,~ and assigns o( the parties hereto. Wherever used, the aingular number shall inciude the plural, the pturat the eingular, and the use of any gender shali be applicable to ai) genders. All covenanta, agreementa and undertakings shall be joint and severat. In the e~~ent additional numbered covenants or para- grapha are for convenience inaerted in this Mortgage, such additional co~~enanta shall ~ be read and given effeM aa though tollowing this covenant in consecutive order. _ 60DK ~~J "VAGE ~t7~, - _ :F = Y _ - - - - - - - _ a ~ ; ~s' w a "~a-.~ r««-tr J } ~ . - ~ ~ k- ~'a t~ `~<3.~,:'~s.~.~a