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Home My WebLink About0680 • a~lply xu~•h n~nls, is.urss und pru(ita re~~rivrd by it on the indeh nrwt ac~•urrd heni?y in su~•h order us MortguK~ti di~ter ss minrs. e ~ight to ente~ nnd take ~wseessiun o( th4 Mor1~~ ~ru~~erly, to munu~e i~nd o~?cratc~ the e~+me, und to ~•ollect the t~rnli, is.vues a?nd protits the~eut, wh~thet Ibt e receiver et otherwiac, ahuli lie cumulative ta uny othe~ right or mm~dy hemunder or a(fouled by law, and nwy be e:eniaed co~curmntly therewith or independenlly thereot. I~iorttcuxee sha~ll I~e linble to uccount unly tor such mnts, issues and prufita uctunlly received by 1~lortgagee. 14. If the indebtednrse secuced hemby is now or he~eafter further secured by ctuittel mo~tguges, sec-urity intemsts. (inuocing ata~lements, pledgea, contracts ot ~Cuarunty, ~sig~me~ts of leusee, or olher securities, ur it the Mortguged Pm- periy hereby encumbered consists o! more thun one Fwn~el ot rr.il property, Mortgugee nury a~t its option exluwst any one or more ot said securities and aecurity hemu~xle~, or su~•h parcels oi the security hereunde~, either cuncurrenUy or inde- Fx nde~tly, and in such order ae it may dete~nine. 15. This MortgnRe shull aecure not only e:ixting indebtedness, but also such (uturn ndvances, whether such udvances ure obligatory or to be mnde nt the oE~tion ot 111ortgugee, or othervvise, na are made within twenty (20) years trom fhe dntc hereo(, to the same e:tent as if surh tuture advunces were made on the date o( the execution o( thia MortgAge, but such secured indebtedness shall not exceed at any time the muximum principal nmount of E-111/A plus intemst, Hnd a~ny disbursements mnde for the payment of taxes, leviea, or insurunce, on the Mortgaged Pro{~erty, with interest on such diaburaements. Any such tuture ~dvances, whether obligatory or to be made al the option of the Mortgugee, , or otherwise,-~nay be made either prior to or after the due dale of the Note or any other notes sc~~ured by this Mortgage. 'Tl~is 111orignge is given tar the speritic purpose ot securing any and ull indebtednesa by the Mortgagor to MorigaKee (but in no event ahall the secured indebtedness exceed at any time the ma~:imum principa) umount set torth in this {wraRruph) in v?Fu+tever ms~nnar this indebtedneas nu~y be evidenced or represented, untii thia Mortgage is ~tisfied of record..All coven- anta und ag~eements contained in lhis Mortgi~Re shs~ll be applicable to ull furiher s~dvam~es mnde by MoriguRee to , ~4ortgagor under ihia tuture advance clause. ; 16. No delAy by Morigagee in exemising any right or remedy hemunder, or otherwise attorded by law, shall o{~erate ' :is ~ waiver thereof or preclude the exen•ise thereof during the continuance of uny def~ult hereunder. No wuiver i~y , hlortgagee of any detault shall constitnte a wai~•er ot or ronsent to suhsequent detaults. No fAilure of Mortg~gee to exercise ~ any option herein given to accelerate maturity of the debt hereby secured, no torbearance by Mortg:~gee betore or ntter lhe exercise of such option and no withdrawal or atwndonment ot toreclosurn proeeeding by Mortgaqee shall be taken or con- ` strued aa a waiver o! ita right to eserciae such option or to accelernte the mnturity of the debt hereby secured by rnason o( any tk~st. ~~n:went or foture de(ault on Ihe parf of Mort¢aeor: nnd_ in like manner, the nmcuremenf of insur.~ncr or the tw~y- ment of l~xes or other liens or chargcs by Atort~agee shall not he Iaken or rnnstn~eci as ~ w:ii~•er oi its riRht to :~ri•elerote the maturitv ot the debt hemhp scti•ured. . . ~ 17. Without afiecting the liability of 1~1or1gaRor or any uther person (exce4~t any ~~rson eYpressly releasecl in writinRl (or ~u~yment .of .~ny indebtedness secvred hereby or for performancr of any oblig:?tion eontained hemin, and without nlfcti•t- . ing the ~ights o! 1~lortgagee w•ith res~•t to nny security not expressly released in wrilinR, Mort~:~Ree may, :~t :~ny time and ~ ~ from time to time, either before or a(ter the maturily of said note, nnd without notice or consent: - Ia) Release any ~~erson liable (or ~yment of all or any ~~rt ot the indebledness or for ~~rforman~~e of :~ny obliRation. Ib) Make any agteement extendinR the time or othervvise altering the lerms o[ ~k~yment- of all or any ~~:~rt ol the indebtedness, or moditying or wai~•inR any obligation, nr subordinating, moclitying or otheraise dcaling with the lien or charge hereof_ (ct Exemise or retrain (rom exercising or waive any riRht Mort~aQee may have. " (dl Accept addition:~l securih~ ot any kind. (e) Release or otherw•i4e deal with any pro}~erty, rea) or ~~ersonal, securing the indehtedness, includinK all or any ~~:~rt ot the blortgaged Property_ lA_ Any aRreement hereafter made 1?y 111ortRaAor :~nd l~lortRaKee pursuant to this mortRuRe sh:ill be s~~~erior !o the riRhts of the holder ot any inten•ening lien or enrumbrance_ j s 19_ Mortgagor hemby wai~•es all right ot homeste~d exemption, i( any, in the 1ltortgaRed Yro~mrty. ~ f f 20. In the event of condemnation proceedings of the Mortgaged Property, the award or compensation ~~ayable there- ~ ` u~der is hemby assigned to and shall be paid to 111origagee_ Mortgagee shall be under no obligation to question the amount ' : ~ ; of any such award or compensation and may acrept the same in the <unount in which the same st~all be paid. In any such condemnation pra~eedings, I~fortgagee m:~y be rnpresented Iry counsel selected by 1~lortgagee. The pra•eeds of any award • ~ or ~~ompensation so received s6a11, at the option ot Mortqaqee, either be applied to the prepayment of the Note and at the ~ rate of interest pro~~idec! therein, regardless o( the nte of interest {~yable on ihe award by the condemning authority, or at j the o~>tion of ~iortgagee, such av~~ard shall he ~?:~id orer to Mortgagor for restoration of the Mortgaged Pm~~erty. 9 ~ 21. I( MortRagee, pursuant to a~ronstruction to:~n aqreement or loan commitment made by Mortgagee w•ith l~tortgagor. ~ aRrees to make construction la~n :id~:~ne•es up to the principal amount of the Note, then Atortgagor hereby covenants th~t it ~ w~ill comply with all ot the terms, provisions and co~•enants o( said constntction loan :~greement or lo:in commitment, will diligently construct the imptovements to he built pursuant to the terms thereof, all o( the terms thereof vyhich are in- ~ ~•or{~orated herein by re(emnce as tho~gh set forth fully herein and wil) permit no defaults to occur thereunder and if a de- ~ fault shall occur thereunder, it shall constitute a detaull under this MortRaRe and the Note. ~ ~ 22. At the optiun ot Mort~agee, :ltortgagor shall pmvide MortR:~~ee with ~~eriodic eertitied audited statements of the ~ (inancia) condition ot 1~1orlgagor. ~ 23. 1VlortgaRor iPj)fESC.~t3 and «~arrants that it a~•or~x~r.?tion, it is duly orRanized and validly existing, in Rood stund- ',xf' ing ander the laws nf the state of its incor~x~ration, has st«•k outstanding which has txen duly and ~:~lidly issued, and u ~ yualified to do business and ic in Kood st:~ndinR in the State ot Florida, with ivl) ~~ower and .~uthority to consummate th~ loan contemplated hereby; and, if a ~k~rtnership, it is duly formed and validly existinR, and is fully qualified to do husiness ~ in the State of Florida: with (uU (x~wer and .~uthority to ~~nsummate the loan contemplatecl hereby. 2~. In the ecent any one or more of the procisions contained in this 111ortqage or in the Note shall for any reason t~e held to be im~alid, illeqal or unenforce~~ble in any res~~t, such invalidity, ille~ality or unenforceablity shall, at fhe ' uption of lhe htorlR.igee, not at(ec•t any other pm~~isions of this 111ortga~e, but ihis !~lortgage shall be construed as i( surh im~.~lid, illegal or unentor~•eable pro~-ision had ne~-er Fieen i~ontained herein or therein. The tota) interest payable pursuant ~ to the Note or this AlortRage shall not in any one ~~ear e:ceeci the highest lawful r.+te of interest in the State of Florida. ; '~5. The co~•en.~nts and aRreements herein containecl chall bind and the benefits and ad~•antaQes ahal) inure to the ` rrs~~i~fi~e heirs, eae~vtors, administrators, successors, :+nd assiRns of the ~k~rties hereta Where~•er useci, lhe sinRular ~ number shall include the plural, the plura) the sinRular, and the use o( any Render shall I~e applic•able fo all ~enders. All - ~•ovenants, aRreements and undertakinga sh:ill be joint .~nd se~•eral. ln the c~•ent additional numbered covenants or parn- ~ qraphs ere tor com•enience inserted in thia MortRaRe, such additional co~enants shall be read and gi~•en e(fect as thouQh , ~ followinq this covenant in c-onsecuti~•e order. ~ . ~ BOD}( Q ' ~ k ~t7~ ; ~ ~ ~ ~ , - - - e - ~ ~;k~ F~ ~ r~ ~ _ ;~-3 ~ ~ _ _ _ . , < _