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Home My WebLink About0132 . . . . ~ , ~ . • :~{~ply auch renla, iseuw und profits received hy it on ihe indebtedneu ~ured hereby ln such onler ua Morlgagee dete~- ininea. Ti~s right to enter and take ~e~sion of Ihe Mortga~ed Proper/y, to matuige and operale the samr, and to ctillect the renta. i~sues and profits thereot. wt~elher by e receiver os othemise, ~hall be cumulative to sny other risht or remedy hareunder or Atfordod by Ww. and may bs e:erci~ed concurtently therewith or indepeodently the~eot. Mortgagee ahall be liable to accounl only tor such rents, iauos and protita actunliy received by Mortgagee. 14. if the indeblodnea~ ~ecured 6ereby iu now or hereatter further ~ecured by clk~ttel morigagea, eecurity intere~U. tinam•in~ stafements, pled8es, contracts of guaranty, ,urignmenta o( lea.es, o~ otMr iecu~itiea, or it the MortRaRed Pro- peKy hereby ancumbered consists of mors t6ar~ ons pa~rel ot real pcoperfy, Mort~agee may at it~ option eshaust any one or more ot wid ~ecuritie~ and wcurity hereunder. or such parcels ot the security beteur?der. either concurrently or inde- pendontly. aad ia such order as it may determine. 15. This Mortgage ahall secure not only eYisting indebtedneM. but alao wch tuture advanc~, whether such advances ~ ace oWigatory or to be made at the option ot Mortgeaee. or otheewise. as are mads within twenly (20) yean from the date hereot. to the ~ame e:tent As it aucb [uture advance~ were mede on tbe date oi tbe esecutio~ q( thu Mortgage. but such se~.~ured indebtedne~s sball not e:ceed at any time the meYimum principal emount o[: plus interest, and any diabursemeob mede tos lhe payment of taxe~, leviea, or insurance, on the Mortgaged Property, v?ith interest on ~uch dLbunementa. Any such (uture advances, whether obligatory or to be made at the option ot tl~e Mortgagee, or otherwi~s, mxy be made either prbr to or efter the due date of ths Note or any other notes secured by this Mortgage. This Mortgage is siven for the specific pwrpp~e ~aec~lfins any and all indebtednen by the Mortgagor to Mortgagee (but in no event sliall the iecured indebtedne.a e:osec( any tune the ma:imum principal umount set forth in thia paraB~ph) in whatever manner this indebtedneM may be evidenced or represented, untii this Mortgage ia aatiatied ot record. AU coven• anb and asreements contained ia thu Mortgage shall be applicaWe to aU turther advancea made by Mortgagee to Mortgagor unde~ this [uture advance clawe. ~ . 16. No delay by Mortgagee in exercising any right or remedy heceunder. or otherwise attorded by law. ahall operate - as a waiver thereot or preclude the e:ercise thereof during the continuance ot any delault ~ereunder. No waiver by ~ Mortgagee ot any defaul! shall conttitnte a waiver ot or consent to su6sequent detaulte. No tailum of Mortgagee to e:ereise any option herein given to acceletate ma/urity ot the debt hereby ~ecured, no torbearance by Mortgagee betore or a(ter the e:erciee ot auch option and no withdrawal or abendonment of toreclosure proceedins by Mortgagee ahall be taken or con- atrued as a waiver of its rigbt to e:ercise such option or !o a~relerate the mAturity of the debt hereby secured by reaaon of any past, preuent or tuture de[ault on the part of Morigagor: and. in like manner~ the procurement of insurance or the pay- . ment of ta:es or other liens or c6arges by Mortg~+gee a1u+11 not be taken or conatrued na a waive~ of its right to acrelerate the macusicy ot the debt.6ereby secured. 17. Without af[scting tbe liability of Mortgngor or any other person (e:cept any person e:pressly released in writing) for payment of any indebtedneee secured h~reby or for pertormance of eny obliqntion contained herein, end without a[fect- ~ ing the rights ot Mortgagee with reapect to any security not e:ptpasly releared in writing. Mortgagee may. ut any time and (mm time to time. either be[ore or atter the maturity ot said note, and without notice or rnnsent: . (a) Releaee any person liable tor payment of all or any part of the indebtednese or for pertormance ot any obligation. (b) Make any agreement eztending the time or otherwiee altering tbe terma o[ payment ot all or any part ot the indebtednegs, or modi(ying or waiving any obligution, o~ subordinaling, modi(ying or otherwise dealing with the 'lien or charge hereoL - (c) EYerrise or reirain trom e:ercising or waive any right Mortgagee may have. (d) Accept additional eecurity oi any kind. (e) Reletsee or otherwiee deAl with any properiy, rnal or pereonul, securing the indebtednesa, including all or any ~k~rt of the Mortgaged Property. - _ . ; ' 18. Any agreement hereatter made by Morigagor and Mortgagee pursuant to thia mortgage ahall be superior to lhe ~ righta ot the holder of any intervening lien or encumbrance_ - ~ 19. Mortgagor heretry waivea al! right ot homeetead e:emption, it any, in the Morigngeci Property. ~i Z0. In the event o( condemnation pra~eedinga oi the Mortgeged Property, tbe award or compensation payable t6ere- ~ under ia 6ereby assigned to and shall be paid to Mortgagee. Mortgegee s6a11 be under. no obligation W question the amount f ot any auch award or compensation end may accept Ihe aame in the amount in which the aame shall be paid_ In any such ~ condemnation proceedings, Mortgagee a~ay be repreaented by rnunsel selected by Mortgagee. The ptoc~eds ot any award - ~ or rnmpeneation w rECeived ehall, at tbe option of Mortgagee, either be applied to the prepeyment of t6e Nole and at the ! rate ot intereat provided iherein, regardleae of the rate ot interest payaWe on the award by the rnndemning authority, or at € the option of Mortgagee, such~award ahall be p~id over tb MoHgagot for reatoration of the Mortgaged Pmperty. ~ 21. It Mortgagee, pursuant to a construction loan agreement or loan commitment made by Mortgagee with Mortgagor, ~ agreea to make.construelion loan advances up to the principal amount of the Note, then Mortgagor hereby covenants that it ~ wip comply with all of the terms, provisions and covenants of said construction loan agreement or loan commitment, will diligently conatruct the improvementa to be built pursunnt to the terms thereot~ all of the terms thereot which are in- ~ corporated herein by reterence ea thoug6 set torth tully herein and will permit no de(aulta to occur thereunder and if a de- tault ahall occur thereunder, it shaU constitute a detault under this Mortgage and the Note. ~ 22. At the option of Mortgegec, Mortgagor ahall provide Mortgegee with period'ec certified sudited etatementa of the ~ financiel condition of Mortgagor. _ _ ~ 23. Mortgngor reprnsenta and warranta that if a corporation, it u duly organized and validly e:iatin~, in good etand- ~ ing under the lawa of the state of its incorporetion, haa atock outatanding which has been duly and validly iasued, and is ~ qualified to do bueiness aad is in good atandins in the Stete of Florida, with tull pow.r and authority to consummate the ~ loan contemplated hereby: and, it a partnerahip, it ie duly tormed and validly e:iating, and is fully quatified to do business ` in the State of Florida: wit6 full power and authority to consummate the loan contemplated hereby. ~ 24. In the event any. one or more of the proviaions rontained in this Mortgege or in the Note shap for any reason i 3 be held Eo be invalid, illegel or unenforceable in any reapect, auch invalidity. illegality or unentorcesblity shaU, at the ~ option ot the Morfgagee, not atfect any other provisions of this Mortgage, but this Mortgage shall be conatrued as if auch ? invalid, illegal or unenforceable provision had never been contained herein or therein. The tolel intereat payable pursuant s to Ehe Note or this Mortgage ahal) not in nny one year e:ceed the higheat law(ul rate of intetrat in the State ot Florida. ; 25. The covenants and agreements herein contained ahall bind and the bene(ita and advantagea ahall inur8 to the ~ resnective heirs, e:ecatora, adminiatratore, succeasore, and aesigna ot the parliea 6ereto. Wherever used, tbe aingular ~ number shall include the plural, the plursil the aingular, and the use of any gender ahall be applicable to al) genders. All ~ cmenanta, agreements and utKlertakings shall be joint and eeveml. In t6e event additional numbered covenanta or para- ~ graphs ere for convenience inserted in thie Mortgage, auch additional covenanta shall be read and given e(fect as though : following t6ia rnvenant in consecutive order. • ~ ' g~~~~ ~9 a P ~ ~~;'-.rc,f . ' _ ' - . s., `a-r " ` ' ~ ~ ~~f