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Home My WebLink About0627 a~qdy w~•h mnl., ic.urs and pruGta rcti•eiv~Kl hy ~t u~ lhc indebttKlne~.v ~vmd hereby io ~+ui•h onie~ :~s I11u~IKaKt~: d~•trr- ~n~nr~. 'l'he riKht lu ~mt~•r :~nd tak~~ ~x.,.w•~siun ut Ihe MortK:iK~r! 1`ro~x•rty. to m:~n:~K~• i~nd o~x•r,~t~ lhe samt•. :?nd te? ~•uUe~•t the renla, ix.u~~s and pn?hta themuf, wheth~~r I~v a ~t~•~~i~rr or othrrv~•~ae, ahull i~e cumulative i~~ any ~~Ihrr ri~;hl ur mmwiy herrunde~ or uttordcd hy I:iw, and m~y I~e ~xFn•iw~d ron~•urrrntly ihen•with or inde~xndently th~~nwt. MortRag.r shadl I~e li.~ble to u~ti~ount only (or auch et:nls, issues and-pedila uctually n~•rivect by Mortgugee. 14. 1t the indeht~dn~~a ~vurt~d hemby ia now on c~rnaflc~ (urthe~ xc~vmd by ehullel mortgug?•s, sc~•urily interext~. (inu~~~ing st.~lements, pl~vigra, controcls of Kut~ranty, u~xignments of leuses, or other securities, or it the I~lurlgugcd Pro- {xrly hemby en~•umlxnd ~•uiuisls o( mom lhan onr p.~nrl of nal prvperty, Tlortgugee may nt its oplion ezhuuet any one or mom of ~iid scti•urities .~nd acr•urily hemunder, or such ~uucrla of the eecurity hereunder, either ~~ncurrenUy or inde• ~x•ndrnUy, and in such order us it may determine. 15. Thia Atortguge ahull ae~~urn not unly e:isting indebtedness, but ulso su~•h (uture ad~~ances, whether such udrunce~x urn obligutory ur to 1?r rn:~de ut the uption o( IUorlgagee, ur othet~~ise, as are nwde within twenty (20) ye.~rs from the d.~l~ hemot, to the sume extent .?a it xui•h (utum :~d~:~n~ti~ were nu~de on the date o( the exec•ution ot thia N~A~RP, but su~•h se.•ured indet~teciness sh:~ll not ex~•red at uny time the maximum princi{~:il nmuunt ot 3 plus intcresf, and :~ny disburxemrnta made tor Ihe ~r.?yment ot taxcs, le~•ies, or insur.inre, o~ Ihe ~lortguged Proj~erly, with intemyt on such disbursements. Any su~•h futun• .~d~~unces, whether obligatory or to he mi~de at the oplion of the AlurtgaQer, or otherwise, muy Ix made either prior to or nfter thP due date of the Note or any other notcs scrured by ~his MortgaRe. This MortRage is gi~-rn for the s~~eci(ii• pur~?ose of secvrinK any and all indebteclness by the !1lorigaKor l0 111ortRaKcr Ibut in no event sh:dl the securecl indeb~rdness exceed at any fime the muzimum princi~u~l amount se! torth in this {wr.~Rraph) in w•hute~er mannrr lhis indebtednc~s may t?e e~•idence~! or repmscnled, unlil this 111ortgage is s:~tiKfied o! recotd. All ~•ovrn- ants und ag~~~ments cont.~ined in this 11lorig:~Re shall be t?ppli~•~ble to :dl (urther :idvanc~s m.?de hy MortKugee to 111ortgagor under this tutum udvan~ti clnuse. 16. No deluy I~y :~lorlgagee in exercising any right or remedy hemundcr, or otherNige atforded by law, shuU operate us a wai~•er thereof or prec•lude the exen•ise thercof during the ~•ontinu:~nce o! any detault hemunder. No wai~•er hy 111ortKaRee of .~ny default shall constitute ~ N~ui~•er o( or consent to subseyuent de(:~ults. No (ailure of 1~lortg:~gee to exen•i~e any option h.•min gi~~en to acceler.ite maturity ot the debt herehv ~rcured, no lortxar.m~r by Mortgagee I~tore or alter the exen•ise of. such option and no withdriwal or at4~ndonmen! ot forcr•losure procreding by Mortgugee sha~U be ta~ken or ~•on- struEd as a wai~er of its riRht to ezercise such option or to acceler.~te the maturity o( the deht hereby scr'urecl tsy reason ot any pasl, pnwent or futum d~•(ault on the ~hirt ot I~1ortKaRor: .ind, in like manner, the proc~ement of insura~~r or the ~?:~y- mcnt of tnxes or other liens or ~•harges by \1ort~;:~~c~ tih:~ll not Ix• t:~ken or ~•on~trueci :~s a W:III'Pr ot its rikht tu a~•~~~lerate the n~aturilv o( th~• d~•bt hereh~• u•cunYl. - I7. \Vithout ~~f(trling lhe li:~hility o( i~torlKaKor ur any uther ~xrson (excepl any ~x~tsun rxpn•stly rrlt:~scd in ~ritin~) (or ~~ayn~ent ot any ind~~i~tcYlne:+s wi•LnY1 hereby or for ~x~rformum~e o( any obligation containcd herein. and ~~ithout a(fec•t- ing the rights of AtortRuRee vi~ith n~s~x~•t to :~ny s~~curity not exprc~ssly mleased in writinR, rtort~a~ee m:ry, at any time :~nd fn~m time to timr, either I~~fom or utter the maturity ot s:~id note, and without noti~~e or consent: (a) Helease any ~x•r~m li:~hle For payment of al) or any part of the indebteclnc~ or for~r(ormance o( :~ny ubliKahon. Ib? Make nny a~greemrnt extendinK the time or othervvise altering the trrms ot pnytitlen/ oJ a!1 or any ~~.3rt ut the indebtedness, or mcxlitying or waivinR any obliRation, or sutwrdinatin(c, moditying or otherwi~3~lealin(G with the lien or char~;e hereof. • (c) Exercise or retr.~in (mm exen•isinR or waivc any riRht MoHQa~m may ha~•c. (d) Accept additiun.~l scK•urih~ ot any kind. (e? Nelease or otheneise de:~l w•ith :~ny priqx•rty, real or {~ersonal, sec-uring the indebtedness, includinK a~ll or any Ir.~rt o( the 111ortRaged Yro~~erty. 1R. Any aKn~ement hercafter nk+de hy A1ortR:~Kur and 11ortKaQee pursuant to this murt~aRe shall IK• su{?erior to the riRhts o[ the holder of any inter~•eninR lien nr eni~umbr~nrn. 19. 111ortgagur hereby wai~~es all riRht uf homestead exemption, if any, in the ~tortgaked Pm~xrty. . f 20. In the event of ~ondcmn.dion prcx•irdinRs o( the Mortgaged PmEmrt~~, the award or com{~ens:~tion ~k~yable there- ~ under is hereby :~stiigned to and sh:dl f~e ~~aid to l~tortg:~gee. Ttortgagee shall be under no obligation to quesiion the amount ~ of any such award or i•om{~ensation and m:~y accept the same in the amount in which the same shall tie paid.- In any such i~ondemnation prM-erdings. Afort~agee may t~ reprrsented i?y counsel sel~•ted by l~fortgager. The ptoceeds o( any aw'.ird j ur ~•om}x•n~dion so rtx~ei~•ecf shall, at the opfion of hlortRagee, rither be applied to the pre{~ayment ot the I~ote and at the 'q rate ut intemst providecl therein, mKardlrss o( the rate ol interc~t ~:+yairle on the aN~ard by the condemning authority, or af ; the o~~tion oi \tortg~~Kee, such .~ward shall t~r ~u~id o~~rr to Atortga~or (or restoration of the IltortgaRed Pro~~erty. 9 ~ 21. If \1ortRaRt~, pursuant to a~•~~nstrui•tion loan uKreement or loan cummitment made b}~ A1ort~agee with 111or1gaKor. aRrees to m:ike construction loan adcancc~x up to the prin~•iExil amount of the Note, lhen MoNgagor hereby covenants that it will comply with all ot the terms, pro~isiuns and co~•enants o[ said construction (a~n a~reement or loan ~•ommitment, will diliKenNy cunsiruct the improvrments to t~e huilt pursu:~nt to the terms thereof, all ot lhe terms thereof which are in- ~ ~•or~mr.~ted herein by reterence as though set torth (ully herein and will ~~ermit no defaults to occur thereunder and it a de- ~ fault shaU ocrur thereunder, it sh:~ll ~•onstitute a de~(ault under fhis hlort~:~Ke and the IVote. c ~ 72. A1 the option o( ~tortRaRee. ~'iortRaKor shall pro~•ide Mort~a~ee with pericxiic ~ertified auditcd statements o( thF ~ (in:~n~ial condition o( ~1ort~aRor. ;3 23. 111ortgaRor r~•pmsents and w:~rr:ints th:~t if a~•or~x?ration, it is duly orKanizc~i and validly existinQ, in Rrx?d stand- ~ inR under the laK~s of ihe state oi its inror~x?ration, h.IS ti~OCI( outstanding which h:?s been duly and ~~ulidly issued, and is ~ yuali(ied to do business and is in K~Kx1 standing in the State of Florida, with full ~?ower and authority to consummate the ~ y luan contemplated hereby: and, i( a ~?arinership, it i~ dul~~ tormcd and ~~alidly existin~, and is tully quali(iecl to do business 3 ~n the State o( Florida; with (ull ~IDNPr and uuthority to ~•onsumm:~te the loan ~untemplated hereby. a 24. In the ee.~nt an~• one or more o( the pr~nisinns ~•ontainesl in this i~toHKaqe or in the I~ote sh:~ll for any reason ; !~e held to Ix~ inaalid, i11eKa1 or unenforceable in :iny resFxN•t, su~•h im•alidity, ille~~slity or unen(orceablity ah:dl, :~t the optiun of the ~tortRaKee, not :itte~•t any other pnn•isions o[ this lllortgage, btrt this ~lortgage shall be construed as if su~~h ; in~:did, illc~;al or unenforreable ~uo~ision had ne~~t~r fx~en c-ontaincd herein or therein. The fotal interest ~~ayable pursuant to the Note or this MortR:iRe shall not in any one'year exceed the hiQhc~t law(ul rnte o( interest in the State of Florid~. " 25_ The cu~~enants and agrermrnts hrrein ~~ont:~infd ~hall hind and the benefits and ad~:~ntaRrs sFwll inure to the r~s~Mrtive heirs, excY•utors, .idmini:tr~tors, tiuc~-~•s~urs, and :issi~ns of the parties hc>reto. Whem~-er used, the sinRul:ir 9 numtx•r shall include the plur:~l, the plur:~l the sin~;ular., ~ind the use of :~ny Render shall be :~ppli~•:~b)e to :dl Renders. All rocen.ints, agrc~ements and undertakinKa shall I~e joint and se•~ernl. In Ihe e~~•nt additional numberc~l c•o~•t•nants or {~ara- ~ qraphs are (or con~•enience inserted in this ~lurtgaRe, such :idditinnal co~~enants shaU F?e read :~nd gicen etfert :~s thouqh ~ follow•in~ this crn•enant in ~on~uti~e nrder. ~ ~ ~ ~ ~ -3- ~o~~ ~~7 f 24 - . _ ~s ~ - ~ ~ _ : ~-n . _ _ ~ : ~ :