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Home My WebLink About0076 , . ~ ; aw~? ~b ~na. ~na ~r,s. r~;~a ' . r ' P by it oa ih~ indebteduers ~ecured betibR h orde a~'[~telt~aaee dstor- ~niae< Tl~e risht to er?ter and take poaerion of ths Mortgased peoper/y~ to mai~e and operate tbe iame. and to coltect tl~e renb. i~a~ and protib thereot. whether by a rsceiver or oti~erwi~s, sbaU be cumuletive to any otber risht or remcdy hereund~r or dtorded by 1sw. end may be eserciaed concurreAtly tl~ecewith or indeper~dently tbereot. Mortaagee shall bs ~iable b aecount ody [or such re~ta~ i~sue~ and pmtib actually received by Mortsa~ee. 14. It 1~ iod~ebt~d~ ~scured hersby ~u no~y or hereafter turther iecursd by chattel mortaaaes. iecurity interests. ~~~n6 dat~aeRv. Pkdse+. contre~cb of ecu ~n~Y. e~E~en4 of lee~es or other ~ecurities, or i~ tbe Mortaased Pro. PQrtY Aereby encumbered rna~ists ot more tba~ one pesce! of r~l proPettY. Mor~da~es may at ib option exhaust any one or aaie o~ aaid bcuritie~ xnd ~rh, ~~~r. or nu6 pereeb ot the secu~ty hereunder. either concurrently or inde. ~xndentl3r. aad w saich ordtt a~ it mqy determins. ~ ot to be mads at the opEion ot Mo ! l~ereot to tbs ~S~l~. or otherwi~e. as are made witbin twent3? (20) Yean. • ate ~ as if suc6 future advances were maJs on the date o[ the esecution ot rtgase, but such ~e~vx~d indebtedner i6a11 no at any time the maximum principet amount plus. inteKat, And aqy di~bur~ements payment oE taxea. levi rance. on tlie MortaaBed Property. wit6 i°~er~! o~ suc6 disburseipeats. Any iucb fut~u+e a v gatory.or to be made et the option of the Mortgasee. ? °r °~TM'i+4 ~y~ be mads either prior to ot after Note or any otber notes secured by thi~ Mortgage. T6is Mort~e is ~iv~ea tor t6e specific ot secvrina any and a i it~nMS by t~a Mortgagor to Mortgagee (but ' iA no ev~ent abell t6e aecurcd ' e:ceed at any time the m~imum pnnci`palaes t ~et (orth in thi~ paraaraph) in wliatev~r raanner ' ~ r maY be evidenced or represented. until this Mortgage is ' ot record. All rnven- aAb Ma ~ontained in this Mortsage shall be applicable to all [uether advances made aaee to 16. No delay by Mort~a~ee in exercisins any r~ht or rem • edy hereunder. or otberwue at[orded by law. s6a11 operate as a wa~ver thereo( or preciude tbe ezercise thereof durina the continuance ot aay default 6ereunder. No waiver by Mortgasee o( any de[auh s~i~ c~~~~ a~~r ot or consent to subsequent defaulte. No failure of Mortgagee to exercise ~Y W~n herein siv~en to aeeelerate aoatutity of the debt hereby secured, no forbearance by Mortgasee betore or after the esen-ise oE suc6 opuo~ a~ ~~~~N,~ or abendonment of foreclosure proceedins by Mortaaaee ahap be taken or con- atrual as a waiver ot its riaht to esercias auch option or to soeelerate the maturity o[ the debt 6ereby secured bj, reaeon of enY {~t. present or tutue~e default on tbe part o( Mortgagor: ~?d. in like manner~ the procurement o[ inaurance or the pay- meAt ot taxes o~ other Iiens or c6arges by Mortgagee ahall not be taken or construed as a waiver o[ its right to accelerate the maturity. o[ the debt bereby secure~. - 17. Wit6out aflectina the liability ot Mortgagor or any other peeaon (e:cept any penon expreasly released in writing) for paymeat of aay indebtedneas sec~red hereby or tor performance o[ any obtigation contained I~erein, and without affect- irg the ri~ts of Mortgaae~+ vrith respect to any aecurity aot e:preasly released in writing, Mortgagee maY. at any time and f~m ~~me to time, either betore or atter the maturity of asid note, and wit6out notice or coneeat: : (a) Release any penon liable tor payment ot all. or any part of the indebtedness or tor pertormance. o! any oWigation, (b) Meke any aareement e~ctendina tLe time or otherwise ~1te~in~ the terms o( psyment of all or any part of the in~lebtedi~s. or modityina or waiving any obligation. or subordinating~ modi(y~ng or otherwiee dealing with the lien or chatge 6ereot. - (c) Bzem»e or rdsain from e:ercising or waive any right Mortgagee may have. " (d) Accept additiona) secvrity o( ' ~ . (eI Release.or othecwise deal wit6 a~n~`~~~ o[ the Mort y p~O~~y ~ri~ ~ indebtedne8a, includin6 all or any'part 6a6e~ ~operty. 18- ~Y ~~eot 6ereatter made by Mortgaaor and~ Mortgagee pursuant to this mortgage aha11 be superior to the ~ ri86ts oE tbe holder ot any intervening lien or encumbranoe. ~ . ~ 19. Mortga~or 6ereby vvaivea a]I right of 6omestead ezemption. if anY. in the Mortgaged Property_ - ~ 20- In the event o( coodemnation proceedinga of the Mort j °~r 18 ~~3' ~+8°~d to and aba1~ be paid to Mort g~~ pTO~~y' ~e award or compensation payable there- ~ ~ of any wcb award or co ~ 6aBee. Mortgagee s6a11 be wider no obligation to question the amount mpeffiation and may aocept fhe same in t6e amount in which the same ahall be paid. In any such coridemnation pioceedin~s. lyortgaBee may be represented by rnunsel eelected Mo ` °r com{~eo~tion so received ahaU, at t6e option of Mo ~ ~e p~~e of any award ~ p~~ ~~lTM rtBaSee, either be applied to t6e prepeyment of the Note and at the ~ regardleea of the rate o( intereat p~yab)e on the award by the condemning authocity~ or at option of Mortaagee~ sucb award shall be paid over to Mortgagor for restoration of the 14[ortgaged property. ~ 21. IE Mott6aaee, pursuent to a rnnstruction loan agreement or 1-~n commi ~ tment made by Mortgagee with Mortgagor, ~ a~rees to make con~tt~ction loan advanees up to the principal amount o: t6e Note, then Mortgagor hereby covenants that it CO°~P~3' ~ll °t the ter~. P~~ons and covenants of said conatruction loan agree~nent or loan commitment, will diligently oomt~ct the i~p~",e~~~ ~~~~t pursuant to the terms .thereof, all of the terim thereof which are in- ~o+porated herein by reference as though set (orth (ully herein and will permit no detaults to occur thereunder and if a de- tault shall occur t6ereunder, it shaU const~tute a defeult under thia Mortgage and the Note. ~ 22. At th~ option of Mortgagee, Mo ~ rtgagor sha11 provide Mortgagee with periodic certi(ied audited statements o( the financial cundition of Mortgagor. 23. Mortaagor represeata and warrantx that if a corporation, it ia duly organized and validly e:istin8. in good stand- ~ ing under the laws of the state of ita inrnrporation, haa etock outstsnding whic6 has been duly and validly issued, and is ~ qualJ~d to d° bus~neas and is in good standing in the State o[ Florida, with full power and authority to consummate the ~ ~°an contemPlated hereby: and, if a partnership, it ie duly tormed and validly e:isting, and ia (u11y quali(ied to do business ~ in tl~e State ot Florida: wit6 [ull power and authority to consummate the loan contemplated hereby. a 24. In t6e event any one or more of the provisiona contained in this Mortguge or in the Note ahall for any reaaon ~ be held to be invalid~ illegal or unenforceable in any respect, such inva4dity. illegality or unenforceablity ahall, at t~e = option of the Mortgaaee, not affect any other proviaiona of this Mortgage, but this Morigage shall be rnnstraed as it auc6 ~ invalid, illegal or unen(orceable provision had never been contained herein or therein. The total interest - to t6e Note or this Mort payable puisuant - ¢ 8eee shall not in any one year exceed the higheat lawful rate of interest in the State of Florida. ' 25. The covenanta and agreementa herein contained shall bind and the benefite and advantagea ~hall inure to the ~ respeclive bei ~ rs. e:ecuto administrators, successors, and assigna of the , parties herPto. Wherever used, the aingular € ~umber aha11 ~uc~ude t6e plural, t6e plural the aingular, and the uae ot any gender sha11 be applicable to all gende~s. All ro`'enants. a8reementa and undertakinge ahap be joint and severaL In the event additional nuEnbered covenants or para- e~p~ are for convenienc~e inserted in this Mortgage, such additional covensinta shall be read and given etfect as though ~o~~~inB t6is covensnt in conaecvtive order: ~ -3- dO~K p~ ~ _ ; - . _ ~ _ - - _ - , ~ k Y , 'a" YYa--4 ' ~ _ _ "tf..s _ _ rr~ v ~~~~3 ~ ~ ~ _ S . _ ' _