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Home My WebLink About0633 . ~ • ~ r. ' . . ap~~ly auch renla, isxuc•x und pro(its received by i1 on the indebtc~ir~eas .e~•~rrd heret,y in auch onler ua MoHgug~r dete~- mi~ea. The right to ente~ and lake {~osseasi~ ot the Mortguged Pmperty; to mnn+r`e and operute the same, nnd to collect the rents, isauea pad pyo ~ e~Q[, ' byr a receiver or otherwise, shall t,e cumulative to any other right o~ remedy hereunder ot aftotded and esanieed concurrently therewith or independently thereof. MortgeRee shall be liuble fo account~on~ or such rents. issues and pmfita actually received by Mortgagee. : 14. It the indebtedneaa secured hereby is now or hereatte~ further ~ecured by clu+tte! morigages, secu~ity interest~, tina~ciog statementa~ pledgea, contracta ot guarunty, uasignments of leases, or olher securities, or it the Mortgaged Pro- perty hereby encun~bered coneists of mo~e than one {wrcel of reul property~ Mortgagee mny at ita option exhuusl nny one or more ot aaid iecuritiea and secutity hereuiuier, or such parcels ot the security hereunder, either concurrently or inde- pendenqy. and in auch order as it may determine. 15. This Mortgage ahall eerure not only existing indebtedneas, but also such (uture udvances, whether such udvancea ace obligatory or to be made at the option of Mortgagee, or otherwiae. as are made within twenty (20) years from the dnte hereof. to the eame e:tent as it auch future advances were made on the date oi the e:ecution ot this Mortgage, t?ut auch secured indebtedness shall not exceed at any time the mnximum principal amount of i ~/A ' plua interest, and any disbursementa made for the payment ot ta:ea, levies, or insurance, on the Mortgaged Property, with intereat on sucb diabursements. Any such tuture advances, whether obligatoryr or to be mude ut the option o( the Mortg~gee. or otherwise, may be made either prior to or atter the due date of the Note or any other notes secured by this Morigage. ~ This Moctgage is given tor the speci(ic purpoee ot securing any and ull indebtedness hy !he Morigagor to 1Nortgagee (but in ~o event shall the secuted indebtednesv excerd at any time the maximum principal ~mount set forth in this puragr~ph) in whatever manner this indebtednesa may be evidenced or represented, unlil this I?iortgage is satisfied ot record. All coven- Ants and t?greementa contt~ined in lhis Mortgage shnp be applicuble to all (urther advunces mt~de by Mortgaqee to Morigagor under this future advance clause. ; 16. No delay by Mortgagee io exemising nny right or remedy hereunder, or otherwise a(iorded by law, shall operate as a waiver thereo( or preclude the exemiae thereof during the conlinuance ot any detault hemunder_ No waiver i?y , Mortgagee o( nny default shall constitute p waiver of or conaent to subsequent de(aults. No tailure ot Mortgagee to exemise , any option herein given to accelernte maturity ot ihe debt hereby secured, no forbearance by Mortgagee be(ore or atter the exemise o( such option and no withdrawal or atwndonment of forrclosure proceeding by 11~fortgagee shall be taken or con- strued as a wai~~er of its right to e:errise such option or lo acrelerate the maturity of the debt hereby secured by reason o( ~ any past, pmsent or future detuult on the Ewrt of Morigagor, and, in like munner, the procurement of insuran~r or the ~w~y- ment of taxes or other liens or charges by Mortgagee shali not be t.iken or construed as a wai~er ot its riRht to ari•eier.~te the u~aturity ot the debt herebv secured. 17. Without atfecting the liability of Mortg~gor or any other person (eYCept any person expressly rnleased in writing) for pnyment ot any indebtednesa secured hereby or [or pertormance of nny obligation contained herein, and without a(tect- ing the rights oi Mortgagee w~th re.spect to any security not expmssly released in writing, MortgaRee may, nt .iny time and tmm time to time, either before or atter the maturity ot said note, ~nd without notice or consenl: (a) Release any ~~erson liable tor payment o( all or any part ot the indebtedness or for per(orn~ar.ce of any obliRation. . ~ (b) Make any agreement e:tending the time or otherwise altering lhe terms ot payment of ali or any part ot th~ indebtedneas, or modifying or wuiving any obligation, or sutwrclinating, moclifying oc othetwis;e de~ling with !he lien or charge hereof_ . (c) Exemiee or refrain trom exemising or waive any riRht MortRagee may have. (d) Accept additional security ot any kind. (e) Release or othemise deal w-ith any property, real or personal, securing the indebtedneas, including all or any ~~:~rt of the 111ortgaged Properiy. . 18. Any agreement herea[ter made by Mortgagor ~nd Mortgagee ~~ursuant to this mort~;aRe sh:~ll be su~~erior to the rights ot the holder o[ any inlen•ening lien or encumbrance_ I, 19. Mortgagor hereby wai~•es all right o( homestead exemption, if any, in the Mortgagecl Propcriy_ ~ - ~ 20. In the event of condemnation pra•eedinqs of the iNorigaged Property, the award or compensation payable there- ~ under is hereby assigned to and shall be paid to Mortgagee. Mortgagee ahall be under no obligation to question the amount ! of any auch award or compensation and may accept the same in the amount in which the same shall he paid. In any such € condemnation proc-eedings, Mortgagee may be represented by counsel selected by Mortgagee. The proceeds of any ~ward ~ or compensation so received stwll, at the optivn o( Morigagee, either be ap~~lied to the prepayment o( the Note and at the ~ rate of interest pro~~ded therein, mgardless of the rate of interest payable on t6e award by t6e condemning authority, or at ~ the option ot Mortgpgee, such award shall be ~~aid over to Alortgagor for restoration of the Mortgaged Property. 21. It Morigngee, purauant to a conslruction loan agreement or loan commitment made by Mortgagee Kith ~lortgagor, agrees to make construction loan advances up to the principal amount ot the Note, then Mortgagor hereby covenants that it will comply with all ot the terms, provisions and covenants of said construction loan :~greement or loan commitment, will diligently conattuct the impro~~ements to be bui)t pursuant to the terms thereof, all ot the terms thereof which are in- cory~orated herein by re(erence as though set forth tully herein :ind will permit no defaults to occur thereunder and it a de- (ault shall occur thereunder, it shall constitute a default under this Mortgage and the Note. 22. At the option ot Mortgagec, Mortgagor sh:ill provide Mortg~gee with periodic certi(ied audited su~tements ot the financial condition of Mortgagor. 23_ Mortgagor represents and w~arrants thal if a corpontion, it is duly orqanized and ~~alidly existing, in good stand- : ~ ing under the laws of the state o( its incor~~oration, has slock outstanding which has been duly and ~~alidly issued, and is • ~ qualitied to do i~usiness and is in good standing in the State o( Florida, with (ull power and authority to consummate the loan contemplated hereby; nnd, i( a partnership, it is duly tormed and validly existing, and is fully qualified to do businecs ~ in the State ot Florida: with full power and authority. to consummate the loan contemplated hereby. ~ 24. In ihe event any one or more ot the pro~isions con4~ined in this Mortgage or in the Note shall for any reason ~ he held to be invalid, illeqal or unenforceable in any respect, such invalidity, illegality or unenforceablity shall, at the ~ option of the MoHgagee, not s~(fect any other pro~•isions of this :~tortgaqe, but this Mortgage ahall be construed as if such ~ invalid, illegal or unenforceable provision lwd ne~~er been contained herein or therein. The total interest payable pu~suant ~ to the Note or this I1lortgage shall not in any one year exceed the higheat lawfu) rate of interest in t6e State ot Florida. ~ 25. The coverwnts and agreementa herein contained shall bind and the benefits and advantages ahall inure to the . ~ respecti~•e heira, executors, administrators, succ•essors, and a~signa of the parties hernto. Wherever used, the singular number shall include the plural, the plural the singular. and the use o( any gender shall be applicable to all genders_ All ~ covenanta, agreements and undertakinga ahall he joint and several. In the event additional numbered covenanfs or para- _ graphs are for convenience inserted in thia Morigage, such addition~l covenants ahall be read and gi~•en effect as though ~ tollowing this covenant in consecutive order. ~ ' . f B~OK~t~i p,~ ~ _ 4 r - _ti = - " - - : _ . s _ _ - - _ ~ . -