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Home My WebLink About0024 . ~ ~.:~i.'. ~ .w:~: upply surh reala, issues und protit~ received by it on the i~debkdne~s secured hereby in sucb order as MoHgxgee deter- mines. The right tu enter and take pos~easion ot the Mortgeged Pmpetly. to managa and operate the same, ac~d to coUect the reMs, issue~ and protib thereot. whether by a receiver oe otherwi~e. ihall bs cumulative to any other ri6ht or remedy hereundee or attorded by law. atui tnay bo e:ercised concurcently tberewith or independently thereof. Mortgagee shall be liabie to accouat only fo~ such renta. iosuea and proJib actually seceived by Mortgagee. ~ . ~ ~ 14. I[ tba iadebtedner aecuced hereby is now or hereetter turther ~tred by chattel mortgages. security iAte~eati. (inancing statement~„ pledgea. contrecta ot suaranty. assig~nne~ts ot leases. or otber securitiee. or ii the Mortgaged Pro- perty 6ereby encumbered conaists ot owre tl~an oas parael ot reel pmpedy, Mort6ages a~ay at ib optio~ ezhaust apy one or more ot said securities snd sacutity l~ereunder. or such parcel~ ot the security hereunder. eitt~er concurrently or i~de- pendent~y. and in suu~ order as it m~y determine. • lb. '11us Mortaage ahall secure aot only e:isting indebeedneas, but alw such tuture advancea. whether such advances are obligatory or to be made et the option ot Mortgagee, or otherwise. as are made within twenty (20) yean trom the date . hereof. to the sama e:tent as i[ sucb future advance~ were made oa the date ot the e:ecution o[ this Mortgage. but auch secured indebtedn~s eball not e:ceed at any time tl~e maximum principal amount ot = ~ plus iaterest. and any ditMueementa made tor the payment o[ taYea. levies. or insurance, on the Mortgaged Propedy, with intereat on such disbutsementa My such tuture advaaces, whether obligatory or to bs made at the option o[ tl~e Mortgagee, or otherwise, may be made either prior to or after tbe due date ot the Note or any other notea secured by thia Mortgage. This Mortgage ia given. for the specific purpoee ot securing any and aU indebtedneas by t6e Mortgagor to Mortgagee (but in no event shall the secured indebtednese ~ceed at any time tLe maximum principal amount aet tosth iA this paragraph) in whetever manner this indebtedaees may be e~ndenced or represented, until this Mortgage is estiatied ot record. AU coven- ants and esreemeata contained in this Mortgage shaU be applicable to aU furt6es advances made by Mortgagee to Mortgagor under this future advance clause. 16. No delay by Mortgegee io e:ercising any rigbt or remedy hereunder. or otherwiae attorded by law. ehaU operate as a waiver thereo[ or preclude the e:ercise thereof during the continuance ot any default hereunder. No w~iver by MoKgagee ot any default ahali conrtitute a waiver o[ or consent to subaequent defaults. No failure ot Morlgegee to ezercise any option herein given to accelerate maturity of t6e debt hereby secured. no lorbearance by Mortgagee before or atter the e:ercise of suc6 option and no withdrawal or abandona4ent of foreclosare prooeedi~g by Mortgagee ahall be taken or con- strued ea a waiver of ita rig6t to e:ercise suc6 option or to accelerate the maturity ot the debt hereby eecured by reason ot any peat, preaent or tuture default on the pad of Mortgagor; and, in like manner, the procurement o[ insurance or the pay- ment o[ tuea or other liens or charges by Mortgagee shall not be takea or construed as a waiver ot its right to accelerate ~ the waturity of the debt hereby secured. - 17. Without af[ecting the liability ot Modgagor or any other peison (e:cept any person e:presaly rel~eed in writing) [or payment ot any indebtedne~ secured hereby or tor pertornoandlAt~aDk~bl~q,coAteined herein:and without affect- ing We righte of Mortgagee with rea~~ect to any eecurity not e~resely ~nl~ }gi~+vpti~g..Moitgagee rinAy, at any time and trom time to time. either betore or after t6e'msturity of aaid noEe, aAa,v?~ Ropoe,pr•cqi?~gri~,; (a) Relesse any pereon liable for payment of all or any part ot the indebtedne.se or for performanc8 of any obligation. (b) Make any agreemeat e:tending the time or othecwise alt'e~ii~?g the terma o[ payment ot all or any patt of the indebtednesa, oc modifying or waiving any obUgation, or subordinating, moditying or oWerwiae dealing with the 6en or charge hereof. •(c) E:ercise or refrain trom exerciaing or waive any right M~rtgagee tnay have. ~ (d) Accept additional security ot any kind. - . (e) Relea~e or othetwiae desl with any pmperty, rea) or personal. securing the indebledness~ including all or any part o( the Mortgaged Property. 18. Any agreement herea[ter ma~e~6~?~~rts~r and Mortgagee pursuant to lhis mortgage ahall be superior to the righta ot t6e holder ot any interveaing lien or encumbraace. ` 19. Mortgagor herebyr waivea aU rig6t of Lomestead e:emption, if any, in the Mortgaged Property. i ~ 20. In the event of rnndemnation proceedings of the Mortgaged Property, the award or rnmpensation payable there- ; under ie hereby sesigned to and shall be paid to Mortgagee. Mortgagee shall be under no obligation to question the amount of any auch award or compensation aad maq accept the eame in the amount in which the seme shall be paid. In any auch condemnation pro~~eedinga, Mortgagee may be repr~ented by counsel selected by Mortgagee. 'E'be proceeds ot any award or compensation eo received shall, at the option of Mortgagee~ either be applied to the prepayment of t6e Note and at the ~ rate oi intereat provided thereiq regardleae o[ the rate of interest payable on t6e award by tbe condemning authority, or at the option of Mortgagee, such award shall be paid over to Mortgagor (or reatoration of the Mortgaged Propedy. 21. If Mortgagee. pursuant to a construction loan agreement or loan commitment made by Mortgagee wit6 Mortgagor, agreei to make rnnstruction loan advances up to the principai amount of the Note. then Mortgagor hereby covenanta that it will comply with all of the terma, provisions and covenanta of said rnnatruction loan agreement or loan rnmmitment, will diligently constn~ct the improvepienta to be MWt putsuant to the terms thereof, all oE the terma thereof which are in- corporated herein by eeference as thoygh set forth tully herein and wip permit no defaulta to occur thereunder and if a de- fault s6a11 occur thereunder. it shall constitute a default under this Mortgage and the Note. ~ 22. At t6e option oi Mortgagee, Mortgagor shall provide Mortgagee with periodic certified audited statemenfa of the ~ ~ financial condition o[ Mortgagor. ` 23. Mortgagor repreeenta and warranta that if a corporation, iC is duly organized and validly e:iating, in good etand- ` ~ ing under the laws of the state of ita incorporation, has stock outstanding which has been duly and validty iasued, and ia } quatified to do buaine~ and ia in good atanding in the State ot Florida, with tull power and authority to consummate the F , loan contemplated herPby; and, if a partnership, it is duly tormed and validly e:iating, and is fully qualified to do bueinese ~ ; in the State of Plorida: with full power and ~uthority to consummatc the loan contemplated hereby. ~ 7A. In the eyent any one or more of t6e provisione contained in this Mortgage or in the Note shall tor any reseon ~ be held to. be invalid, illegal or unentorceable in any res~~ect, sach invalidity, illegality or unenforceablity ehall, at the ~ option o[ t~e Mortgagee, not atfect any other provisions ot this Mortgage, but this 1liortgage shal! be conatrued as if such invalid, illegal or unentorceable proviaion had never been contained herEin or thenein. The total interest payable pu~suant ~ to the Note or thia Mortgage ahall not in any one year e:ceed the higheat lawtul rate of intereat in the 3tete of Florida. s ~ 25. The rnvenants arid agreements herein contained shall bind and the benefits and advantagea shall inure to t6e ~ respective heira, e:ecutors. administretore, successora, and assigna ot the partiee 6ernto. Wherever used, the singular j number shaq include the plural, the plural the singular, and the uee ot any gender afiaU be applicable to all gendeis_ AU ~ covenants, agreemenb aad undertakings ehall be joint and ac.weral. In the event additional numbered covenanta or para- ~ grapbs are for rnnvenience inaerted in thie Mortgage, snch additional covenants shall be read and given etfect aa t6ough following thia covenant in consec~tive order. ~ ~ ~ -3- ~ - . ao~~tl3 ~ 2~ ~ ; " 3 ~ . . . _ ~ - ~ ~:~=T~ ~ ~ .k.~~~d a~~ ~ .i ' .