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;~~?ply su~•h mnts. ix.~ui~x suxi ~~rof~ta rrcN~vec1 by it un ~he indrLtc~cim~es ~•ured herohy ip au~~11 e,nler s/,1~lurtg:~K~w detrr-
mines. The right to enter +~nd take ~x,.~x•~iun o( the ll~uttqugrci Nn?{K:rly, to mi~naee and ~I~rrute the sui~~e, and to rulir~~t
the ernts, ixsues und pn~tita lhe~ru(, wh~~ther by a re~•eive~ or utherwise, ahull t~e cumul:~tive to any other right or rem~~cly
he~eunder or nitorded by I:~w, and mny l~e exen•iaed concurcently therewith or inde~~endrntly thenof. lliortgagtr shall
ire li~ble to acrount only tur such ~nta, iasura nnd profits actually recrived by Mortgugee.
14. 1t the indebt~dneeis aeru~d hemhy is nuw or herc~iter turlher secured hy ctu~ttel mortgi+ges, xr~•urity interrxta,
(inuncing etutemen/a, p1eclKra, contracts o( guarunty, usxignments o( leasea, or other securities, or i( the Mortgoged Yro-
{~erty heteby encunit~ered c~naisla ot more lh~~n one {H~rcel o( rnal property, Mortgagee mny ~t its optiun ezhuual any one
or more oI xaid securiiiea und ae~•urity hereunder, or auch Ewrcela ot fhe security hereunder, either concurrenUy or inde• .
~~endently, and i[t auch order as it may deterniine.
ure ob tg r to be m~de ut the option o[ Moctg.iqee, or olhervirise, s~s nrn mt?de within twenty 120) years f e daite
hereo(, to the aame na ~f such tuture advuni~es were mAde on the dnte ot the e:ecution of lhis--~Nb gage, but such
srcured indebteclnesa shall~ at any time the maximum principal amount ojS--' ~
plus intereat, and :?ny diaburaementa mu e -tl~e ~wyment ot toxea, levies,.w-irrBUrf~n~r, un the Morignged Propetiy, with
intereal on such dishursementa. Any such tuture ad~_•lt~ het • ~gatory or to be m~de at the option ot the MortK•~K~'.
or otherwise, muy be made either prior to or u(ter th te f-ihc~Note or any other notes secured by thia MortBuKe.
This MortgaBe ie gi~•en for the s{xti•itic p~ o securing any And uU
~ndeb neea by the Aforigagor to 1lfortg.~gee (bu!
in no event sh:~{I the secured in~el~led"ni~sa e:~~eed at any time the mAximum princi~w1~nt
set forth ia this ~xiraKraph) in
w•twte~~er manner t~ e tedness may he eviden~rci or re{teesented, until thia Mortguge i~s
't' ' of rc~c~ord. All coven-
aats an menta conts~ined in this I?fortguge ah~ll t?e npplicuble to .all turther ~dv~nces mj~de rtgnRee to
16. No delny by Mortgagee in e:ercising nny righl or remedy hemunder, or otherwise afforded by law, sha11 operate
as a waiver thereoi or preclude the exen•ise thereoi during the continuance ot any defnult hereunder_ No wai~•er by
1NortA~gee ot .~ny detuult shall constitute n waiver a[ or ronaent to subsequent detaulta. No (ailure of Morig.~gre to rxercise
any option herein gieen to an~elerate tnaturity o! the debt hereby secured; no forbesrance by 111ottg~igee be(ore ar after the
exemiae ot such option and no withdruwal or ntwndonment of toreclosure proceeding by Mortgagee shull he taken or con-
strued as a wAiver ot ita right to e:ercise such option or to arcefenite tfie maturity oi the debi hereby secured by m:~son o(
any ~~ast, prexent or (uture default on the p:irt ot Alortgagor; and, in like m:in~er, the pt~ocurement of insurance or the ~ury-
ment of taxes or other liens or ~•harges by .INorlgu~ee shall not Ix~ taken ar construed :~s a wni~rr of its riRht to :~i-~~eleratr
the tru~turity of the debt hereby ~•ure~L
17. Without a(fecting the liability of TlortgaKur or any other ~~erson (except uny E~erson expmssly rnle:~xd in writinK)
(or ~k~~•ment of any indrbtednc~:+s securecl hernLy ur for ~~ertarmance of anv obligation contained herein, and without a(fect-
ing the rights o[ Mortgugee with reapect to i~ny se.•~rity not expressly released in writing, Mortgagee m.~y, at any iime and
from time to time, either be(ore or s~tter the maturity of said note, and without notice or consent:
_ la) Relt:ase ~ny I~e?son liable tor {x~yment of all oc any p;itt o[ the indebtedness or for ~~rtormanre o( any ot~liRat~on.
(b~ Make any agreement c:tending the time or otherwise aitering the terms of payment oi ~11 or ciny ~~art ot the
indcbtedness, or modifying or w:iivi~g any ob1iR.~tion, or suhordinating, modi[ying or otherwise deatinq v~ilh the {ien or
ctwrge hereof.
Ic) Exercise or refrain from exemising or w.~i~•e any riRht MortRa~gee may have.
(d1 Accept additional security of any kind_
(e) Release or otherwise deal with any proix'rty, real or peraonal, securing the indebtedness, includinR .~ll or any ~mrt
o( the Mortgaged Property.
18. Any agreement here~(ter m:ide by MorlgaR~r and tl4ortKagee purauanl to this snortRa~e shall be superior to the
rights ot the holder oi any intervening lien or encumbrance. .
19. Mortgagor hereby waire~s al1 right of homestead exemption, i[ any, i~ the 1l~ortgaR~d Yroperly.
20. In the event of condemnation proceedings o( the Mortgaged Property, t6e award or compensation N~ayable there-
f under is hereby assigned to and shall t?e paid to Mortgagee. 1~lortgagee shall be under no o6ligation to question the amount
j ot any such award ot c•ompensation and may accept ihe same in the amount in which the same shall F?e ~iaid. In any au~h
( condemnation proceedings, Mortgagee may be represented try counsel selected by Mortgagee_ The pro~^eeds ot :~ny award
or compensation ao received shall, at the option o( Mortgagee, either be applied to the prnpayment of the Note and at the
rate of interest pro~~ided therein, regardless ot the rate ot interest payable on the award by the condemning authority, or :~t
the option of Mortgagee, such award sh:~ll he paid o~~cr to Mortgagor for restoration ot the Mortgaged Pro~?erty.
21_ It Mortqagee, pursuanl to a ronstrvction lo.~n agreement or loan commitment made fiy Mortgagee with Mortgagor,
aRrees to mnke construcGon loan advances up to the princi~~al amount of the Note, then Mortgagor hereby ro~~ennnts that it
w•ill comply with al! of the terms, pro~•isions and rovenants of said constrnclion loan agreement or loan commitmenE, will
diligently construct the impmvementa to be built pursuant to the terms thereot, all of the terms thereo[ which are in-
~ c•ory~orated herein by m(erence as though set forth fully herein and will permit no detaults to cecur thereunder and if a de-
(.~u{t shali occur thereunder, it shall constitute a default under this Mortgage and the Note.
22. At the oplion o( MortqaRec, 111ortRaRor sh:~ll pmvide 1lfortRaRee with periodic certi(ied audited statements of the
(inan~ial condition of Mortgagor. .
23. hloriga~;or represents :~~d u•arrants lhat if a i•or~~oration, il is duly organized and validly existing. in good stand- ~
ing under the laws of the atate of itx incor~x~ration. has stock outstanding vrfiich h.is been duly and ~:~lidly issued, and is
~ yualified to do husine~ and is in good standing in the State of Florida, w•ith tull power and authority to consummate the
loan contemplated herehy: :~nd, i( a~kirtnership, it is duly fnrmed .ind ~-alidly existing, and is fully qualitied to do busine::s '
~ in the State of Florid:i: with fall ~waer and authority to consummate the loan contemplated hereby. '
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~ '24. In the evenl any one or more o( the pro~isions c•ontained in this Mortgage or in the ~Jote shall for any re:ison
= fK~ held to t~e im•alid. i11eRaI or unenfomeab{e in any resF>ect, so~~h im•alidity, illegality or unenforceablity shall, at the
' nption of the 1lortguRce, not atfe~•t any other prm~isionc ot this +~Iortgaqe, but this hSortgage sha{I be construed as i1 sucfi
~ in~:did, iltegal or unentor~•eahle ~~ro~•ision had ne~~r been contained herein or themin. The total interest ~>ayable pursuant
~ to the Note or this ~tortQaRe shall not in :~ny one ~•ear ex~~eed Ihe hiRhest lawful rate of interest in the State of Florida.
~ 'Lb. The ~•ovenants and agreements herein contained shall bind and the txnefits and ad~•antages shall inure to the
~ rrs~~•tivi~ heirs, executors, :~dminisirators, surcessurs, and assiKns of the parties hereto. Where~~er used, the sinRul:+r
~ number shall include the plural, the ~dural the sin~ular, and the use ot any gender shal{ 1~e ap~~licable to :dl genders. All
co~•enants, agreements und undertakings sh:ill be joint :~nd sever.~L In the e~~ent addition:il numbemd ~•ovenants or {?ara-
Kraphs :ue (or con~•enienc•e inserted in this T1ortRaKe. such .+dditional co~enants shall tre read and gi~•en eftect as thou~
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(ollovving this cn~en.mt in consecuti~•e order.
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