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Home My WebLink About0560 r~l+~~ly ru~•h rt~ntft, waUC>1 :illd pIO~IIa ~'elYlY~ hy Il Ob lI1! IIf(~ChIC"~Qe~s secvred ha~ry tn auch ortler ate Mo~tg.iKrr di•ti r- ` mineu. The nght lo enter aixl t:+ke ~x.sseu~ion of the MorlSu~d Yruperiy. to munage and oNrn~tr ~~ir auu?r, auu t~ cc.Ztr: t the r+ents, isaues and ptvti4 thereo(, whether by a n~ceiver or othetv~•i~e, s6aD tx cumulative lo any other riRhl or remE~dy hernu~der or nttorded by laiw, and may be e:eerieed concurrently thetewith or independently thereof. Mortg~~gee sf~all !~e liuble to account only tor such rents, issuea and pmtits actuaUy n~c+eived by Mortgagee. 14. It !he indebtedneas secuced hereby is now or here~[tet further aecured by chattel mortgages, security interesls. (ins~~cinB atntementa, pledsea, contracts of guaranty, as~igrunents ot leaaes, or other securities, or it the Mortguged Pro- ~ perty hereby encumbered consists o( more ihan one {~an~e) ot real pmperiy~ Mortgagee muy ai itsi uplion rYhaust any onc ~ or niore ot said s~ruritiea und seeurity hereundet, or wch ~~ameb ot lhe security hereunder, eithe~ concurrently or inde- pendcnUy, and in wch order as it nwy determine. 15. Thia Mortgage shull eecure rwt only e:istina indebtedneas, but also such future adva~ces, whether such Ldvunc~s are obligatory or to be made at the option o! i?~ottgaaee, or otherstiise, as are made within twenty (20) yeara trnm the date hereot. to the same e:tent as if such future advances wece miade on the date oi the exerulion ~f this I~'Iortgnge, but such ~ secured indebtednesa ehall oot e:ceed at any time tbe ma:imum ptincipal amount ot E n~a t plua inter~t, and sny diaburaements m.~sie to: tlze p~yment o! tazee, levies, or insurance, on the Mortgu~ed Prope~cy, with ~ interest on such diaMirsementa Any wrh future ad~ances, whether obligatory or to be made ot the option o( the Mortgugee. or otherwise, rn~y be made eitber prior to or after the due date ot the Note or any other notes secured by this Morigtige. ~ This Mortgage is gi~rn tor the apeaifie pur~ase ~t seivrir?a any and all indebtednesa by lhe Mortg~gor to Mortgagee (buf ~ in no event ahall the secund indebtedneas ~ceed at any time the maYimum prinripat amount set forth in this paragruph) in ; whatever manner this indehtedneas may be evidenced or r~eprrsented, until this iltortgnge is satiatied of record. Atl co~°en- t Ants and aareementa containe~ in this Morl~Ce shall be applii•aMe to all turlher advances mnde by Mortgngee to ~ lUoHgagor under this tutuee achance ctause. 16. No deley by Mortgagee in e:errisina any right or retnedy heteunder. or otherwise attorded by law, shall operate as a waiver thereof or preclade the e:etrise thereof during lhe rnnlinuance ot any default hereunder. No waiver by ~ tifortgagee of any de[auit shalt constitnte a waicer o! or rnnsent to subsequent defaulta. No tailure of Mortgugee to exerrise ' pny option becein git•en to accelerate maturity of the debt hereby secured, no torbearance by Morlgagee t~efore or atter the exercise ot such option and no Mrithdrawal or at~andonment oi foreclosure proceeding by Mortgagee shall be tuken or con- atrued aa a waiver of its right to e:ercise suc6 option or to accelerate ti~e maturity of the debt herehy. secured -by re:~son oi any past, present or (uturr detauit on t6e ~ar! of' Morigagor: and, in like manner, the procurement ot insuranc~e or the p:ty- ment af taxea or other liens or charRes by A~orlgagee shall not he.taken ot consirued as a w~iver ot its riRht lo acY~elernte the ir.aturity ot the debt herehy secured. 17. Witbout aftecting lhe liabitity ot 1Nortgagor or any other person (except any person expressly releaseci in writing) for payment ot any indebtedhess secured hereby or for pertorn~an~~e ot any obligation contained herein, and without :iffect- inR the righta o( Mortgagee with respect to any secunty not espressly ~+eleaaed in writing, Alortgagee may, at :~ny time and from time to time, either hetore or alter tbe maturity of said note, and without notice or consent: r (a) Release any person liable for ~yment of al) or any part ot the indebtedness or for pertormance ot any obligation. t (b) Make any agreement e:tending the time or otherwise altering ihe terms of payment of al! or any part of the indebtedne~, or modifying or waiving any obliKation, or aubordinating, modifying or otherwise dealinR with the lien or ch:arge hereot_ Ic) Exemise or refrain from exemising or v?ai~r arrv right 111ortRaRee may have. (d1 Accept additiorwl secunty of any kind. Ie) Rele:ise or otherw•ise deal w•ith any properiy, real or personat, securing the indebtednese, includinK al) or any p:~rt o( the ~lortgaged Property_ ' 18. Any agreement herea[ter made bv blortgagor and btortgaRee pursuant to this mortKaRe shall be su~~erior to the rights ot ihe holder ot any intenrning lien or encumbrance. 19. Mortgagor hereby wai~rs all right ot hornestead e=emption, i( any, in the Morigaged Property. Z0. In the event o( rnndemnalion procredings of the Mortgaged Property, the awatd or compensation payable there- under is hereby assigned to and shaU be paid to Mortgagee. 1liortgagee shall be under no obligation to question the amount of any such award or compensation and may accept the same in the amount in ~vhich t6e same shall be paid. In any such rondemnation proceedings, 1~lortgagee may be represented try counsel selected by Mortgagee. The proceeds of any award or compensation so received shatt, at the option ot 1lfortgagee, either be applied to the prepayment of the Note and at the rate ot interest provided therein, regardless of the rate ot interest payable on the award by'the condemning authority, or at t6e option ot Morigagee, such awatd shall be paid otrr lo Mortgagor tor restoration oF the Mortgaged Property. 2t. It ~lortgagee, pursuant !o a construction loan agreement or loan commitment made by Mortgagee with r4ortgagor, agtees to make construction loan ad~~ances up to the pnncipal amount of tbe Note, then Mortgagor hereby covenants that it will comply with all ot the terms, provisions and cnvenants ot said construction loan agreement or loan commitment, will diligently conatruct the impm~•ements ta be built pursuaot to the terms lhereot, aU of the tercaq thereoi which are in- corporated herein by ie(erence as thoug6 set torth (ully herein and will permit no detaults to occur thereunder and if a de- fault ahall occur thereunder, it shaq constitute a detault under this Mortgage and the Note. 22. At the option of AiortgaRec, Aiortgagor shall provide Mortgagee with periodic certified audited statementa ot the financial condition of I1lortgagor_ 23. 1ltortgagor reprnsents and warrants that if a cory~oration, it is duly oriCanized and validly e:isting, in good stand- ing under the laws ot the state ot its incorporation, has stock outstanding which has been duly and validly issued, a~d is qualified to do business and is in Rood standing i~r the State o( Florida, with full power and authority to consummate the losn contemplated hereby: and, i( a partnership, it is duly (ormed and ~~alidly existing, and is fuily qualitied to do business in the State of Florida: with (ull pow•er and authority to consummate the loan co~templated hereby_ 2~f. In the event any one or more ot tbe provisions contained in this bfortgage or in the Note shall for any reason be held to be invalid, illegal or unenfomeable in any respect, such imalidity; illegality or unenforceablity sha11, at the option of the 14torigagee, nol affect any ot6er pm~~isions of this btottgage, bat this Mortgage shal) be construed as if such invalid, illegal or unenforceable pmti~ision had necer been contained herein or therein. The total interest payable pursuant to the Note or this 1ltortgage ahall not in any one ye:i~ exceed the higheat lawfu! rate of interest in the State of Florida. 2.5. The ~~ovenanta and agreements herein contained stu~ll bind and the bene(its and advantages shall inure to the res~~-tn•e heira, ezecvtors, administrators, succes~ors, and assigns ot the partiea hereto. Whemver used, the singutar number shall include the plunl, the plural the singutar, and the use o( any gender shatl he ap~~)icable to all genders. All covenanta, agreements and undertakings shal! he joint and scw•era1. In the e~•ent additional numbeted covenants or para- grapha are tor com•enience inserted in this Alortgage, such additional co~•enants shall be read and gi~•en e(fect as though ioiiow~ing itiia curer~ant ir ranseratitr order. _3. U ~i ~ Soi,r. ~,i~ ~ ~ ~ : , _ - - - - - _ ~ ~ ~ . ~ p ? ~ ~ . . . _ ~ ~