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Home My WebLink About0965 ~ , . . . r apply su~•h mnts, issue,~ und profita ~•eivecl hy"i! on the indrbtedneas ~•unrl hemby in such onirr a~ I~tortg:~g~~e drter- minc~a. The right tu enter and tt~ke ~w.~~~iun of the I~1ortK,~kE~i Pr~~~rty, to mun:~ge and u~x rate the s:~n?e, i~nd to collei~i the tents, issure und protita thereo(, whether hy a~~eiver or olherw•ise, ahall t~e cumulative to i~ny olher right or mm~~ly hernunder or attorded by law, and muy lie exen•ised concurrently thetewith or inde~xndenUy themut. MnrtguR~r shuil he liuble lo uc~vunt only tor sueh renta, issues and protita ucluully received by Mortgugc~. 14. It the indebtedness xecumd hereby is uow or her~wtter further ~ ured by chattel n~ortgugc~a, ~•urity interrsts, ; tinancing sirtementa, ~~leclgea, contracta ot guarunty, :is~ignments of leuses, or other securities, or it lhe MortgaKed Pm- ~~erty hereby encumbered consixts of more than one ~k?rcel o( real property, I~turtgagee nu~y at its optiun exhuust any one or more ut suid securitiex und security herrunder, or such {xirceis ot the security hereunder, eithe~ concurrentiy or inde- pendenUy, i~nd in such order us it ~ru~y detennine. 15. Tfiis 114ortgage shull secure not only existing indebtedness, but also xuch tuturn udvunces, whether su~•h advtincex are obligatory or to be made at the option of Mortgagee, or otherwise, us are mnde within twenty (20) years trom the d~te hereot, to the sume extent :?s it such tuture ndvancc~x were mt+de on the d~te o[ the execution of this MortgASe, but such secured indeMedness ahull not exceed at f~ny time the mUYimum princi~u+l iimount of S ~ plus interest, and uny disbursements mude for the ~k~ymenl ot taxes, levies, or insur.mre, on the Morcg„Red Pro~~r~y, with interest on such disbursements. Any such future udvan~rs, whether obligatory or to he made at the option of the Mortgugee. or othervvise, muy be made either prior to ur after the due dute o( the Note or any other notes secured by this Mortge~ge. This Mortgage is given [or the specific pur{wse ot sc~vring any and ull indebtedness by the Alortgugor to Mortg.~gee Ibut in no event shall the secumd indebtedness exceed nt »ny time the muximum princi~~al amount set forth in this {kiraRraph) in ~hutever mnnner this indebteclness may he e~•idenced or represented, until this Mortg.~ge is w~tis(ied of rec•urd. All co~•en- ~ anta .~nd agreements contAined in this Mortgage shull he npplicable to aU turther .~dvan~rs made by Morigz~Kee to A4ortgugor under this futute udvance clause. • ~ 16. No delay by Mortgagee in exercising s~ny right or remedy hereundec, or othemise :ittorded by law. shall o{x~rate :is n waiver thereof or preclude the exercise thereo( during the continuance of any defauit hereunder. ~ No wai~rr by Mortgagee ot any detault shall constitute n waiver ot or consent to sut~sequent de(aults. No failure ot MortgFigee to exrrcise any option herein gi~~en to accelerate maturity of the debt hereby secured, no forbevrance by Mortgaqee betom or a(ter the exercise of such option and no withdrawal or ulu~ndonment of foreclosure proceeding by Mort~agee shull t?e taken or con- ~strued as a waiver of ita right to e:emise such option or to a~celerate the mawrity of the debt hereby secumd by mason ot any past, present or tuture default on the ~kirt of tllortqagor, and, in like munner, the ~~roc•urement ot insurumr or the ~,:~y- ment of taxes or other liens or charges by MortRaigee sh.dl not t~e taken or ~•onstrut~d as waieer oi its riRM ln a~•celer.~te the muturity ot the debt hemb~ sec•ured. 17. Without af(ecting the linbility o( 111ortgugor or any other ~~erson (excepf any ~~rrson exprescly releasecl in writinR) (or p:ipment of any inaebtedness secured herebv or for ~~ertorm:.~nce of any obliRalion contained herein, and ~~itho~t :dfecf- ing the rights o[ 11'Iottgagee v?~ith refspect to any sec•urity not expressly released in writing, 1~1ortRagee may, at r~ny time and from time to time, either be[ore ur atter the maturity of said note, and ~vithout notice or consent: (a) Itele~ase any ~~erson linble for payment of all or :+ny {k~rt ot the indehtedness or tor pertormance of ~ny obliKation. (b) Make any aKreement eYtending the time or otherN•ise altering the terms of ~k~ymeM of all or any {~.3rt of the indebtedness, or moditying or waiving uny.obligation, or subordinating, m~xiifying or othetwise dealing with the lien or charge hereof. (c) Exercise or retrnin from ezemising or w•aive :~ny riRht 1~1ortR:~Ree m:~y hx~•e. (d) A~-cept additiona! security of any kind. E k (e) Rele~ise or otherveise dea) with any pro~~erty, ma) or personal, sei•uting the indebtedness, including all or any ~k~rt ~ of the Alortgaged Property_ • - ~ 18. Any agreement hereafter made by ~tortgagor ~nd MortRaRee pursuant to this mort~age shall he su~~erior to the ~ rights of fhe holder of any inten•ening lien or encumbrance. s . ~ 19. htortgagor hereby wai~•es all right of homestead exemption, it any, in lhe Mortgageci Property. ~ 20. In the event af condemnation proeeedings of the Dlortgaged Property, the~ award or com~~ensation ~~ayable there-. ~ under is hereby assigned to and shall be ~k~id to Mortgagee. htortgagee shall be under no obligation to question the amount fi of any such award or compengation and may accept the same in the amount in which the same shall be ~~aid. In any such . ~ condemnation proceedings, 1~lortgagee may F?e represented by counsel selected by Mortgagee. The proceeds of any award ~ or compensation so received shall, at the option ot Mortgagee, either be applied to !he prepayment of the Note and at the a rate of interest pro~rided therein, re~ardless o( the rate of interest ~~aysble on the award by the condemning authority, or at the option of 111ortgngee, cuch award shall t?e p~id o~•er to Mortgagor for restor:dion of the Iliottgaged Propetty. ~ ~ 21. It hiortgagee, pursuant to a construction loan agreement or loan rommitment made by Mortgagee with blortgaRor, ; agrees to make construction loan ad~~:~nces up to the principal amount of the Note, then Mortgagor hereby covenants that it ~ will comply with all ot. the terms, provisions and co~•enants ot said construction loan agreement or loan commitment, will ~ diliRently construct the improvements to be built ~~ursuant to the terms thereof, all oi the terms thereof.which are in- ~ ~•orporated herein by teterence as though set forth tully herein and will permit no defaults to occur thereunder and if a de- - t~ult shall occur thereunder, it shall constitute a defa~dt under lhis Mortgage and the Note. ~ ~ 22. At the option of blortg:~gec, blortgagor shall provide A'lortgagee with periodic rertitied audited ~tatements ot the ~y ~ . ; financial condition ot Mortq<~gor. ~ ' 23. 11'Iortg~igor repn-~ents and w~arrants that if a cor~x~r.?tion, it is duly organized and validly existing, in good stand- ing under the la~~•s of the atate of its incorporation, has sto~Jc outstanding which has been duly and calidly issued, and is qualitied to do business and is in Rood st:~nding in the State of Florida, with full power and authority to consummate the loan contemplated hemby: and, if a ~~rtnership, it is duly formed and validly existing, and is fully qualified to do business in the St~te o( Florida: with (ull power and authority to consummate the loan contemplated hereby. ?~3. In the event any one or more of the provisions contained in this Mortgage or in the Note shall for any reason be held to be invalid, i11eRa1 or unenforceable in any res~~ect, surh invalidity, ille~ality or unenforceablity shall, at the option of the MortgaRee, not attect any other provisions ot this Mortgage, but lhis Mortgage shall he construed as if such ; imalid, illegal or unen(orceable provision had never been contained herein or therein. The tot:~l interest payable pursuant - to the ~tote or this htort~tage ahall not in any one year ex~~ced the highest law(ul nte of interest in the State of Florida. 25. The covenants and agreements herein contained shall bind and the t?enefits and advantages shall inure to the resE~ective heirs, executors, administrators, successors, .ind assigns o( the ~k~rties hereto_ Wherever used, the sin~ular number shall include the plural, the plurat the sinRular, ~nd the use ot any gender shall be applicable to all genders. All covenants, agreements and undertakings shall t~e joint and sever.+l. In the e~~ent additional numbered covenants or para- ;.~j grapt~ are tor convenience inserted in thia MortgaRe, such additional ro~•enants whall be read and gi~~en e(tect as thouRh :z~ following this co~•en:,nt in consecuti~~e order. ~ ~ ~ B~tI ~~7'~ ~IIGf ~ z=~ _ ~ _ _ - - - - - ~ - , - - - ' ~ _ 4 = ~ 4ex ~,~r ~ _ yv~. " T-,J ~ _ _ _ _ ~ ~ ~ ~ • y ~ .~..~.ac r~.=.~T.~tsw_~:~~.~S3~,M.~... _ _ . . `...s"...~~