The URL can be used to link to this page

Home My WebLink About0941 ap~?ly ~uch renta, iuvurx und pmtita received by it on tha indebtedneas aecured hereby in such order us MortgaRee deter• ~ minrs. 7'he right to enter and take poaaeasio~ ot the Mortga~ Properly, to munaee and ope~ate the same, and to collect the rents, ianuea und pm(ita thereof, whether by a~eiver or otherwise, shall be cumulutive to any other right or mmedy hereu~der or attorded by ~rv~~ ~Myexe ~roncurrenUy therewith ar i~dependently thereof. Mortgagee shull be 1'wWe to account only t~~~~ iswea a eofits actually received by Mortgagee. • 14. I[ the indebtednew secured hereby is now or hereatter (urther secured by cha?tel mortgnges, security intereeta. tinancing statementa~ pledaea. rnatracts ot Runra~ty. assig?uneots ot leases, or other securilies, or if the M~rtgaged Pro- perty hereby encumbered conaiab ot more lhan one pan~el of mal properly~ Mortgagee may at ib option ezhauat any one ' or more o[ said securities and security hereunder, or such parcels ot the ~ecurity hereunder, either concurrently or inde- pendently, and in such order aa it m9y determine. 15. 'I'his Mortgnge shall secure not only e:isting indebtednes~. but also such tuture advances, wl~ether such Advences are obligatory or to be made at the option ot Mortgugee, or oth~mise. as are made within twenty (20) years trom the date hereof, to the same e:tent as it such future advances were made on the date of the execution ot ihis Mortgage, but auch ~ eecured indebtednees ahall not exceed at any time the ms?zimum principal amount of = ~1,~.71 ' plus interest, and any~diabursements mnde ior the payment of taxes, levies, or insurnnce, on the Mortgaged Property, with intereat on such diabursementa Any such future advancea, w6etfier obligatory or to be made at the option ot the MoHgngee, or otherwise, may be made either prior to or atter the due date o( the Note or any other notes eecured by thia Mortgage. ! Thia Mottgage ia given tor the specitic purpose of eecuring any and all indebtedness by the Mortgagor to Mortgagee (but _ in no event shall the aecured indebtedneaa exceed at any time the maximum principel amount set forth in this paragraph) in ~ whateves manner this indebtednc~ may be evidenced or represented, until this Mortgage is satistied ot record. AU coven- ~ ants and agreements contained in this Mortgnge ahnll he applic~ble to all further advances made. by Morigngee to , Mortgagor under lhia future advaoce clause. - 16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwiee atforded by law, s6a11 operate s~s n wAiver thereof or preclude the e:emiae thereof during the continuance ot any de[ault hereunder. No wai~~er by z Mortgagee ot aoy detuult sball rnnatitute a waiver ot or consent to subsequent defaults. No tailure o[ Mortgagee to exereise ~ any option herein given to accelerate maturity of the debt hereby s~,rured, no forbearance by Mortgagee betore or atter the ~ exercise of such option and no withdrawal or abandonment of forecloaure prooeeding by Mortgagee shall be taken or con- ; strued as a wai~ec ot its right to exercise auch option or to acceterate the maturity of the debt hereby secured by reason ot any past, present or tature detault on the pnrt of Alortgngor; and, in like manner, the procurement ot insur.~nce or the F~y- ment o[ ta:es or other liens or charges by MortRngee sluwll not F~e tnken or construed :~s n wai~•er ot its right to :~~•celerate ~ the maturity of the debl hereby secured. . 17. Without affecting the liability of Motlgagor or any other person (except any person exprnssly released in writing) tor ~wyment of any indebtedness secured hereby or tor per[ormance of ~ny obligation contained herein, and without atfect- ing the rigl~ta o[ Morigagee with respect to any security not expressly released in writing, Mortgagee may, al siny time and from time to time, either before or atter the maturity of said note, and wilhout notice or consent_ ~ la) Release any ~~erson liable for ~yment ot all or any part of the indebtedneas or for performance ot nny obligation. t (b) Make any agreement extending the time or othenvise altering t6e terms of {~yment of all or any part ot the ~ indebtedness, or modifying or waiving any obligation, or suhordinnting, moditying or otherwiae dealing with the lien or ~ charge hereot_ ~ i (c) ~xercise or refrain lrom exercising or wai~-e any right MotfRagee may have. E (di Accept additional security of any kind. (e) Release or otherwise deal vvith any properiy, real or peraonal, securing the indebtedness, including all or any ~~art of the Mortgaged Property. 18. Any agreement hereatter made by Mortgagor and Mortgagee pursuant to this moriRage shall be suE~erior to lhe ~j rights of the holder ot any intervening lien or encumbrance. # ! 19. 111ortgagor hereby waives all right ot homestead e:emption, if any, in the Mortgaged Property. f 20. In the event ot condemnation proceedings of the Mortgaged Property, the award or compensation payable there- 5 ' under is hereby asuigned to and shall be paid to Mortgagee_ Mortgagee shall be under no obligation to question the amount ± f o( any such award or compensation and may accept the same in the amount in which the same ahap be paid. In any such ~ t condemnation pra~eedings, Mortgagee may be repreaented by counsel selected by Mortgagee. The proceeds ot any avrard ` or compensation aw received shall, at the option of Mortgagee, either be applied to the prepayment ot the Note and at the rate of interest pm~~ded therein, regardless ot the rate ot interest Erayable on the award by the condemning suthority, or at ` the option o[ 1liortgagee, such award shall be paid o~er to Mortgagor for restoration ot the Mortgpged Property. ~ , 21. I( Mortgaqee, pursuant to a conslruction loan agreement or loan commitment made hy ibtortgagee with Mortgagor. agrees to make conslruction loan advances up to lhe principal amount ot the'Note, then Mortgagor hereby covenants that it will comply with all of the terms, pro~•isions and covenants o( said construction loan agreement or loan commitment, will diligently construct the improvements to be buitt pursuant to lhe terms thereof, all of the terms the~eof which are in- corporated herein by reference as though set torth fully herein ~nd will permit no de(aulta to occur thereunder and i( a de- ? fault shall occur thereunder, it shall constitute a default under this Mortgage and the Note. 22. At the option of Mortgagee, Mortgagor sha11 provide 111ortgagee with periodic certified audited statements of the ~ financial condition of Mortgagor. t 23. Mortgagor represents and warrants lhat if a cor{wration, it is duly organized and validly existing, in good atand- ing under the !aM•s of the state of its incor~~oration, has stock outstanding which has been duly and validly issued, and is = qualified to do business and is in good standing in ihe State of Florida, with full power and authority to consumm:ite the ; loan contemplated hereby: and, if a partnership, it is duly tormed and validly existing, and is fully qualified to do businesa ; ~ in the State of Florida; with full pov~er and authority to consummate the loan contemplated hereby. f ~ ' ~4. In the event any one or more of the ~~rovisions ~-ontained in this 14tortgage or in the Note shall for any re:~son ' & 1~e held to F?e invalid, illegal or unenforceable in any respect, such invalidity, illegality or unentorceablity shall, at the ~ option of the Mortgagee, not af(ert any other provisions of this Mortgage, but this Mortgage shall be construed as if such # ~ im~aiici, i1lrKaj or unrniun-rai~ie prvviaiun Swd nevrr i~rrn cuniained herein ur iherrin. The futai inieru~ p:iyauie pursuanf t ~ to the Note or this Mort~age s6a11 not in any one year exceed the highest lawful rate of interest in the State o( Florida. ~ ~ 25. The rovenants and agreements herein contained sha11 bind and the bene(its and ad~~:~ntagea shall inurn to the ~ ~ respecti~~e heirs, executors, administrators, successors, and assigns ot the p.~rtiea hereto. Wherever used, the singular f ~ nurnber shall include the plunl, the plural the singular, and the use of any gender shaD be applicable to all genders. All ~ ~ coverwnts, agreements and undertakinge shall be joint and several. In the event additiona! numbered covenants or para- ~ ~ graphs are for convenience inserted in thia Mortgage, such additional covenanta shall be read and given etfect as though ~ tollowing thia covenant in conaecutive order. ~ : ~ -3- 0 R ~ eoo~ 296 P~c~ 939 ~ t ~ . ~ - t~ . .r.~ ~ ~t{ ~ _ _ ~ . - ~ ~~~z;~ -A~~~~~'~a"~..a_~~~H.__ "j _