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Home My WebLink About0695 • ' •i s a{?ply such mnis, issues und pru(its m~•eivcd 1?y it on ihe indebtc~clnr8a sc~•ured heret~y iQ sbch order iq ~lurtguKc~• deter- ~ninra. The right to entrr and take ~iosaesai~~n of the Morigageci Yn~~~rty, to man~~ge :ind o~,er.~te the sume, und to ~•ollcw•t Ihe rents, issues ar?d pro(ila thereof, whelher by a receiver ot otherwise, shul) I~e cumulutive to any other right or rem~~cly hemunder or a[torded by law. and mny be exercis~d concurrently therewith or inde{x~ndenUy tt~emot. Mo~tg:?Kre shnll I~e liable to a~ti~ount only tor such renta, issuea und protits e~•tuutly ~~rived by Mor~guRee. 14. It tl~e indebtedneus secured hereby is now or hen,+s?fter fu~ther aecueed by ch:~ttel mortg+iges, security interests, (ir?:incin(t atutemeota, pledgea, contructs o( guarnnty, usaignmenlH ot leasea, or other scrurities, or it ihe Mottgaged Pro- perty hereby encumbered consists of more lFwn one ~wn~el ot mnl property~ Morigagce m~y at ita uption eYha~ust nny one ? o~ more ot aaid se~~uritiea und security hereunder, or such parceis ot the security hereunder, rither concurtently or inde- prndently, and i~ such order as it may determine. - 15. Thie Mortgage.shull secure nat only existing i~debtedness. but also such tulure advuncea~ whether such a~dvances aoe obligatory or to be mnde Ut the option of Mortgogee, or ntherwiee, as are made within twenty (20) yeara trom the dnte hereof, to the same eztent as if such tuture advunces were mude ~n the date ot the execution of this Mortgage, but such secured indebtedness shull not exceed ~t any time ihe maximum principal amount ot = N/A plus interest, and uny disbursementa mnde tor the payment of taxes, levies, or insuram~e, on the MoNguged Pro~~erty, with interest on such disbucsemenls. Any such tuture advancea, whether obligatory or to be made at the option ot the Mortgt~gee, ' or othervvise, muy be made either prior to or atter the due date ot the Note or any other notes secured by this Mortgage. i This I1lostgage ia given (or the apecitic purpose o( securing any and all indebtedness by the Mortgtigor to Mortg~ee (but , in no event shaU the secured indebtedness exceeci at any time the mu:imum principal ~mount set forth in this ~wr.igr.~ph) in i whatever manner tl~is indebtedness mt~y he evide~ced or re~~msented, until lhis Morigage is satisfied of record. All coven- ~nta a~d agreements contained in this I1lortgage shall be appiicuble to aU further udvsinces made by Mortgiigee to Mortgagor under this tuture advance clauae. ~ 16. N~ delay by MorigAgee in exercising uny right or remedy hereunder,~or otherwise u(torded by law, shall oper:ite as a waiver thereof or preciude lhe exen•ise thereof during the continuance ot any defnult hereunder. No wai~~er try 1llorigagee of any de(ault shnll constitute a waiver of or consent to sut?sequent defaults_ No tnilure of Mortg~~gee to e:e~cise ; any option herein given to accelernte maturity of the debt hereby secured, no torbearance by Mortgagee before or after the exercise ot such option and no wilhdrawal or atx?ndonment o[ toreclosure proceeding by Mortgngee shall t?e taken or con- ~ strued ae a waiver of ita riKht to e:emise such option or to acti-elerate the maturity of the debt hereby secured~ by reason o( any ~xist, present or future default on the ~xirt ot I~lortq:~gor; and, in like manner, the procurement of insuran~r ar the ~~:~y- ment of taxes or other liens or charges by Mortgugee shall not I~e tnken or ~~nstrued as a w:~i~•er af its riRM to a~•celer.de the ~naturity of the dc~bt hernby sc~•umd. 17. Without atfecting the liubility o( I1lorigagor or any other ~~erson (except any ~xrson expressly released in writin~) for ~k~yment of any indebtedness secured hereby or for performance o! any obligation contained herein, a~d without :~ffect- . ing the riRhts of Mortgagee with res~x~~t to ~ny securily not expressly rele.ised in writing, MortgaRee may, at a~ny time and ~ from time to time, either before or after the maturity oi said note, ~nd without noticeor consent: (a) Release any ~~erson liable tor ~kiyment ot zill or s~ny ~~arl of the indebtedness or for ~~ertormance of :~ny ohliRation. r Ib) 41ake any ugreement extending the time or otherwise altering the.tertns of paymeat of aU or any ~x~rt o( the indebtedness, or modifying or w.~ivin~ :~ny oMiRation, or sutx~rdinating, TAodiJying or otherwise deslina vrilh"the lien or charge hereof. ~ :_v;z (c) Exenise or re(rain trom exemisenR or w.~i~~e any riQht MortRaRc•e m:iy ha~ve. (dl Accept additional security of any kind. ~ (el Rclease or othen~•ise deal w•ith any pro~~erlv, re:il or ~~ersonal, sec•uring the indebtedness, includinR ~U or any ~k~rt ot ehe htorigaged Pro~~erty. 18. Any agreement hema(ter made by A1ort~aRor and MortR:~~ee pursuant to this mortRaRp shall I~ su~~erior to the riRhtx o( the holder o( any inten•ening lien or encumbrance. " 19. Mortgagor hereby v?'ai~'es alf riRht of homestrad cxem{>tion, it any, in the hiortgaged Pro~x~rty. 20. In the event of condemnation pra•eedings of lhe Morlgaqed Pro~~erty, the award or compensation ~>ayable there- I under is hereby assigned to and shall be paid to Mortgagee_" 11Tortgagee shall be under no obligation to question the amount ~ of any such award or compensation and may accept the same in the amount in which the same shall be paid. In any such ; i•ondemnation proc~eedings, Mortgagee may F?e represented t?y counsel selected by Mortgagee. The proc•eeds o( any a~+•.ird 'E or compensation so received shall, at the option oi MortRagee, either be applied to the prepayment of the Note and at the ~ rate of interest pro~~ded therein, regardless ot the n~te of interest pay:~ble on the :~ward by the condemning authority, or at the option ot 111ortgagee, such aw~ard shall be {ti~id o~~er to btortgagoc for restoration of the Mortgaged Pro~~erty_ ~ 21. If Mortg.igee, pursuant to a construction loan agrcrment or loan commitment made by 111ortgagee with AiurtgaRor, - ~ aqrees to make construction lain advances up to the princi~~al amount of the Note, then Mortgagor hereby covenants that it will comply with all of the terms, pro~~isions and co~•enants o( said construction loan ~greement or loan commitment, will diligently construct the improrements to be builf pursuant to the terms thereof, all of the terms thereof w~hich are in- corporated herein by reference fls though set forth fully herein and wiU ~~ermit no defaults to occur lhemunder and if a de- (ault shall occ•ur thernunder, it shaU constitute a de(ault under this MortgaRe and the Note. ` 22_ At the option of MoriR.iRee, Alortg.igor shall provide Mortga~ee wilh periodic rertitied auditeci statements of the ~ ~ financial rnndition o( Mort~agor. 23. Mort~agor represents and warrants that if a corpor.~tion, it is duly orRanized and validly existing, in gcwd atand- ~ inR under the law•s of the state oi its incoryioration, has stue-k outstanding which h~s beQn duly and validly issued, and is ~ yuali(ied to do business and is in good st:~nding in the State of Florida, with full ~~ower ~nd authority to consummate the ~ ~ la~n contemplatecl hereby; and, it a partnership, it is duly formecl :md validly existinR, and is tully qualitied to do business ' ~ in the State of Florida: with tull porti•er and authority to i•onsummate the loan contemplated hereby. ~ ; - 24. In the ecent any one or more of the prorisions contained in this Mortgage or in the Note shall for any reason }~e held to Ire invalid, ille~al or unenforceaMe in any res~~ect, such invalidity, illeg.~lity or unenforccablity shall, at the option of the Atortgagee, not aftert any other pmvisions of this 141ortgaRe, but this Alortgage shall be construed as if surh ~ im•alid, illegal or unenton•e.~ble pm~•ision had ~ever been c•ontained herein or therein. The total interest ~h~yable pursuant ~ to the Note or this 111ortgaRe ahall not in any one ye:~r exreed the highest lawful rate of interc~t in the State of Florid~. ~ 25. The covenants and agreements herein contained ~hall bind and the benefits and advantages shall inure to the w; rrs~~~ti~~e heirs, execvtors, :?dministrators, succc~uirs. and :~ssiRns of the ~?arties hereto. Whem~•er used, the singular ti numiier shall include the plural, the plural the sin~ular, and the use ot .iny Render shall be ~pplicable to all genders. Atl i~ covenants, agreements and undertakings shall be joint and se~~er.~L In the ece~t addilional numt?ered covenants or ~-~ra- ~ Rraphs am tor convenience inserted.in this Mortg~~ge, su~•h addition:+l c•o~•enanta shall be read and gi~~en effect as thouRh ~ following this co~•enant in ccinsecutive ~rder. ~ ~ r~ y ~ ~ -3- $~i ~ ~ ~ ~ ~ f.;. ~ ~E~- _ _ .s ~ ~ `'V~ " r~ ~.~,ag .e. z,? ""...~-~C~~ ~ ~ _ _ . _ _ _ ~ a. '