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:qy~i~ ~u~•h n~nts, i~ur+ a~d prQfita tepgiv~d by itLqn ~te indehtednt~ wK•unrl hemby in such urde~ as Alortgn~;~~c• d~•~rr-
iuinrs. '1'he right tu rnt~~r :~nd pike possession ot the I1lottg:~gE~1 Yru{K•rty. 1o n~anage :uiJ o~x•r:~tr the s:une. and to culi~~~~t
the nnta, jx~u~~ und prolifa then~of. vvhether t?y u recci~•er or otherwise, sh:~U 1,e c•umul.itive to nny other righl or mm.Ylv
hemundrr or .iUorded by lnw, und mny 1~ ex~~n•ised cuni•urmntiy the~ewith or inde~~endi~nily ihenr,f. Alortgag~r shatl
I~e liut~le to arcount only for such mnis, isvui~ and pn~(its :~ctually received by ~1uttgagc~e.
14. If the indebtecinesx ~•urecl hernhy is now or herrafter further secun~d by chaite) mortgagea, s~~•urity- interrsl4.
(inuacing stutements, pledges, ~Y?nlr.~cts of guur.inty, assiknments of Ieases, o~ other securities, or if the Mortguged Pro-
{x rt}~ hereby rncumbemd consista ot mure th.in one ~k~nrl ot rnai property, Murt&LKee +ru+y nt its vptian exh:iusl siny une
or mom of ~~id securities s?nd se~•urity hereunder, or su~•h ~u?n~•ls o( !he sec•urity hereunder, either concurmnUy o~ inde-
~~endently, and in such orcler as it nu~y determine.
15. This MortRt?ge shall secum not only existing indebtedness, hut a?Iso sui•h tuturn ndvnnrns, whether su~•h .idvances
are obligatory or to be ni.ide at the option o( Mortgugee, or otherwise, ps are mude within twenty (2U) years trom the d~te
hereof, to the same eYtent us it such tuture ailvan~~es wcre roade on the date of the exec•ution of this Alortg.iR~, but sue~h
~•uree~ indebtedt?ess shu11 nat exceed at uny tin~e the maximum princi~wl amou~t of $ N/A
plus interest, .~nd .eny diaburxments made tor the ~~.~yment of taxes, levies, or insuainre, on the riortg.?~ed Pro{~erty, with
intetest on such disbursements. Any such future ~d~•anres, ~vhether obligatory or to be mude nt the option of the MortRa~ec•.
or otherwise, m.iy he mnde eilher prior to or afte~ the due date of the Note or any other notes secured My this Mortg.~xe.
This l~tortg:~ge is gi~•en fur the s~xrific purEx?se of securin~ nny and all indrbterlness by the AlortgaRor to MortRaRee Ibut
in no event shalf the ~~urecl indehtedness exceed ait tiny time the maximum principal t~mount set (orth in this {?:ir.iKraph) in
whatever munner this indebtedr?ess may be evidenced or reprtisented, until this rloctg.?ge is s:~tisfied ot rc~•ord. All co~en-
:~nts and ~greements contnined in this Mortgage shaU he appli~•:~ble to a11 further ud~•uncrs made by 111ortgagee t~,
Martgagor under this iutec+e ad~•ance clause.
~ 16. No delay by htortgagee in exercising nny right or mmedy hemunder, or othenvise aflorded !ry law, shall o~~erate
a~s ~ wi~i~•er thereof or preclude the exercise thereof durinR the continu~nce of uny detault hereunder. No w.iiver I~y
A4ort~agee ot any def:iult shall constitute ~ wai~•er ot or consent to sul?seyuent de(uults, No (ailure of Mortgagee to exercise
any option here~n given to accelerate maturity of the debt hereby seuure~l, no fort+ear•?ncr by 1~lortgagee 1~e(one ot a(ter the
exercise of such option and no withdtawal or ab:endonment of toreclosum pra•eeding by hlortg:~gee shall Ix~ taken or ~•on-
strued as u waiver ot ita right to exemise such option or to airelerate the maturity of the debt herehy secumd by reason of
any past, present or future detaul! on the ~k~rt ot ~tortgagor, and, in like manne~, Ihe prpi~urement ot insur.~n~•e or the
ment oi taxes or other liens or charges by Mortg~~gee shall not i,e t.iken or constn~etl :~s a w~aisrr of its right to ai•~•eler:ite~
the rr,aturity of the debt herrby secured. •
17. Without atfeciing the liability of Mortg~~or or :~ny other {~etson (except :~ny ~xrson expn~ssly rete:~seri in w•ritinRl
tor ~k~yment of any indebtedness sec•ured hemby or for ~~ertormanre of any obliR:~tion contained hernin, and without aff~•t-
ing the rights of hiortgagee with res~x~•t to any sec•urily not expressly released in N•riting, Mort~aRee ms~y, at any time and
irom time to time, eithet }~efore or after the maturity o( said note, and vrithout notire or consent_
la) Release any ~~ersun liable for {~yment ot all or .iny part ot the indebtedness or for periotmance uf any obliRaNon.
!b) 11~:~ke :~ny :~Rrcement extending the time or othern~ise altering the terms of ~yment ot all or anv part o( the
indebtedness, or modifyinR or ~~:~ivinR any obliR:ition. nr sulx~rclinatin~, modifyinR or othera-ise de.iling with the lien or
rh.~rRr hereof. ~ ~ -
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~ (c) Exetcise or refr.~in fmm exen•i~ing or wai~~e .~ny riRhl htortR:~gee m<iy h:i~•c.
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f ~d) Accept addition:~l security of any kind_
~ (e) Release or othen~ix de,~l K•ith ciny pro~?eriy, rn:~l or ~~erson.il, sc~•uring the inclehtedness, includinR all or:~ny ~~:~rt
~ of the \fortgaged Pro~~ettY-
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' 18. Any agreement hereafter made bp ;1lortg:~gor und Mortg:i~cr pursuant to this mort~:~Re shall he su~~erior to the
~ rights of the holder of uny inten•enir.g lien or encumhr~nce.
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~ 19: MortgaRor hereby wai~~es all riQht of homestead exemption, if any, in the Alortg:~~ed Pro~x~rtv.
20. In the event of condemnation proceedings of the Nlortgaged Yro~~erty, the aw~ard or com~~ens:~tion ~~yable there-
i under is hemby assignetl to and shall I~e paid to 111ortgagee. Mortgagee shall t~c under no obligation to question the amount
of any such award or compensation and may accept the same in the amount in which the same shal) be ~k~id. In any such
; c~ondemnation proc-eedings, ~1lortgagee may he represented t~y rounsel selected by MortRagee. The proceeds of any :iwarcl
~ or comj>ensation so recei~•ed shall, at the option of Mortgagee, either be applied to the prepayment ot the Note and at the
r,de of interest pmvided therein, rn~ardless of the rate of interest {k-~y.iMe on the aw•ard by the c-ondemninK aut6ority, or at
3 the option of hlort~nRee, such :~ward shall be paid o~•er to 14iortga~or for restoration ot the MorigaRetl Pm~>erty.
~ 21. If ~fortgagce, pursuant to a e•onstruction loan aKreement or 1a~n commitment made by 141ortgagee with \lortga~or.
f agrees to m:ike construction foan ad~:~nces up to the principaTamount of the Note, then Mortgagor hereby c-o~•enants that it
wili comply with all of the terms, pro~~isions and co~~enants of said ronstruction loan agreement or lo:~n rommitment, w~ill
F diliRently construct the impmvements to be built putsuant to the terms thereof, all of the tecros thereof which are in-
~ ~ror{~r:~ttd herein by mference as thou~h set forth (nlly hemin and will perrr?it no detaults to occur thereunder and if a de-
~ (ault shall oci~ur thereunder, it shatt constitufe a default under this lfortgage and the Note.
~ 22. At the option of A4ortgagee, htortg.~gor sh.~ll pmvide ~ltort~aRee aith periodic certified audited statements of the
~ tinancial condition of l~fortgagor.
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23. 1lortgaRor represents and .~arrants that if a cor~wration, it is duty organizcd and ~•aGdty existing, ir~ good stand-
ing under the taws of tt~e state of its incorl~oration, has sta~k outstanding whi~•h has I~een duly and ~•alidly issued, and is
qualified to do l~usiness and is in Rood st:~nding in the State of Florida, with full ~~ower and authority to consumm:~te the
; lo:~n cvntemplated hemby: and, i( a ~~rtnership, it is duly formecl ~nd ~•alidly existinR, and is fully qua(ifierl to do husiness
in the State of Florida: W~ith tult ~wwer and authorily to consummate the loan contemplated hereby.
24. In !he event any one or more of the provisions cont~~ined in this 111ortgage or in the Note shall for anv reason
t?e heid to f~e invalid, ilieRal or unenforceabie in any res~•t, sach inv:~lidity, illegality or unentorceablity shall, at the
~ption ~f the AlortgaRee, not af(ert any other provisions of this 1~iort~aRe, but this Atortgage shall be construed as it such
in~~alid, illegal or unen(orceable provision h:id ne~~er t~een contained herein ot therein. The tatal interest payable pu~suant
to the Note or this ~lortgaRe shall not in any one year exceed the 6iKhest lawful r.~te of interest in the State of Florida.
25. The co~enants and agreements herein contained ~hall bind and the 1?enetits and advantages shal( inure to the
res~~ctive heirs, executors, administrators, succes,~nrs, and :~asiRns of the Ek~rties hereto. Wherever used, the sinRular
numlier Shal! include the plur.~l, the plural the sinRul:~r. ~nd the use ot ~iny ~ender shall be applicable to all Renders. All
~•o~~enants, agreements and undertakinga shall fie joint and sc~•eral. In the e~•ent additional numiiered coven:~nts or parn-
Rraphs are for conrenience inserted in this btortRage, such additional co~~enants shall be read and giren effect as thouRh
foltowing fhis co~~enant in consec•uti~•e order_
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• 4 ~ac~ 154
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