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Home My WebLink About0829 . ~ • t 1, , • , ~ 4 apply surh mnta, isauc~ und protits received by it on the indobtedneas aecured lier~b~y i~surh order ns MoHgugee deter• t minra. The right to enler and luke poasession ot the Mortaaged Property, to matwge end operate the asme, und to collcct the renta, iasuea a~d pro(ite thereof, whether by a receiver or otherwiea, shall be cumulative to any other rikht or remedy hereunder o~ at[orded by luw, and may be exerciaed concucrently therewiW or independently thereot. Mortgagee ahall be liable to account only for such re~ts, isaues and pmtib actualty recei~~ed by Mortgagce. 14. If the indebtc+dnees secured hereby is now or her~etter turther secured by chattel mortgages, serurily interests, tinancing statements~ pledges. contracb ot guaranty, aasignmenis of leases. or other securitiea, or i[ lhe Mortgaged Pro- periy hereby encumbered coneisfa ot more thnn one pamel ot real pmper/y~ Mcrtgagee may at its option ex}wust nny one or more o[ said eecurities and security hereunder, or such parcels of tlie security hereunder. either concurrently or inde- ~ pendently. and in such orde~ as it may determine. ~ , ~ lb. This Mortgage ahall secure not only e:istir?a .indebtedness. but also auch future advances, whether such advancea i are obligatory or to be made at the option of MortgAgee, or otherwise, aa are made within twenty (20) yean trom the date ~ heceot, to the same e:tent aa it euch tuture advances were a~ade oa the date ot the execution . f this MortgaRe, but auch secured indebtedneea shall not exceed at any time the maximum principal amount of = n~8 plus interest, and any disbursemenls made for the payment ot taxes, levies, or insurance, on the Morigaged Properly, with intereat on such diaburaements. Any such tuture adva~ces, whether obligatory or to be made at the_ option of the Mortgagee, or otherwise, may be ~nade either prior to or atler the due date o( the Note or any other noles secured by this Mortg~ge. ~ This Mortgage is given tor the specitic puq~oee ot securing any and all indebtedness by the Morlgagor to Mortgagee (but ~ in no event shall the secured indebtedness e:ceed at any time the maximum principal amount aet forth in this paragraph) in ~ Khatever manner this indebtedness may be evidenced or repreeented, untit tbis Mortgage ia satiatied ot record_ All coven- anta and xgreementa rnntained in thia Mortgage shaU be applicable to all turther advancea made by Mortgagee to i Morlgagor under this tuture advance clauae. ~ ; ! 16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwiae atlorded by Inw. ahall operate ns a waiver thereof or preclude the e:erciee thereof during lhe continuance oi any detault hereunder. No waiver by Mortgagee oi any deteult ahall constitute a waiver of ot consent to subsequent defauita. No tailure o( Mortgagee to exercise any option herein given to accelerate iuaturity of lhe debt hereby secured, no forbearance by Mortgagee betore or atter the exereiae of such option and no withdrawal or abandonment of toreclosure proceeding by Mortgagee shall be taken or con- strued as a waiver ot ita right to e:ercise such option or to accelerate the maturity of the debt hereby secured by reason oi nny past, present or (uture de(ault on the part of Mortgagor: and, in like manner, the ptocurement of insurance or the pay- F ment o[ taxea or other liens or chargea by Morigagee shail not be taken or canstrued as n waiver of its right to acrelerate ; the maturity of the debt hereby secured. ~ ' 17. Without affecting the liability of Mortgagor or Any other person (e:cept any person expressly released in writing) for payment ot any indebtedness secured hereby or for per(ormance oi any obligAtion contained herein, and without affect- ing the righta of Mortgagee with respect to any security not expressly releaged in writing, Mortgaqee may, at any time and from time to time. either betore or atter the maturity ot said note, and without notice or rnnsent: (a) Release any ~~erson liable for payment ot all or any part of the indebtedness or (or performan~~e o( any obligation. . ; (b) Make any agreement extending the time or otherwise alt~ering the terms of payment of all or any part of the ! indebtedness, or modifying or waiving any obligation, or suhordirl~iln$; modifying or otherwise dealing with the lien or charge hereof. - ~ ` . - ; (c) E:cmise or refrain trom exercising or waive any right Mortgagee may have. (d) Accepl additional secvrity ot any kind. (e) Release or othemise deal with any property, real or personal, aecvring ihe indebtedness, including all or any ~wrt o( the Mortgaged Property_ - I8. Any agreement hematter made by Mortgagor and Mortgagee pursuant to this mortgage shall be superior to the rights of the holder ot any intenening lien or encumbrance_ 19. Morigagor hereby waives aU riRht of homestead exemption, it any, in the Morlgaged Property. 20. In the event of condemnation proceedings of the Mortgaged Properiy, the award or compensation payable there- ~ I under ~is hereby assigned to and shall be paid to Mortgagee. Mortgagee shall be under no obligation to question the amount ! of any such award or t•ompensation and may accept the same in the amount in which fhe same shali be paid. In any such ` i condemnation proceedings, hlortgagee may be represented by counsel-selected by Mortgagee. The proceeds of any award ~ or compensation so received shall, at the option of Mortgagee, either be applied to the pr~epayment of the Note and at the ; rate of intereat pro~~ded therein, regardless ot the rate of interest payable on ttie award by the condemning authority, or at ~ the option of Mortgagee, such award shall he paid over to Mortgagor tor restoration of the Mortgaged Property. ~ t ~ 21_ If Mortgagee, pursuant to a construction loan agreement or loan commitment made by Mortgagee with Mortgagor, agrees to make construction loan ad~•:inces up to the principal amount of the Note, then Mortgagor hereby covenants that it will comply with all of the terms, pro~~isions and covenants ot said construction loan agreement or loan commitment, wil~ diligently construct the improvements to be built pursiwnt to ihe terms thereof, all of tt~ t~ie~~t which are in- iw corporated herein by reference as though set torth tully herein and will pertnit no defaults tA thereunder and if a de- fault ahall occur thereu~der, it ahali constitute a de(auit under this Mortgage and the Note. 22. At the option ot Mortgagee, Mortgagor sh:~ll pmvide Mortgagee with periodic certified audited statements of the (inancial condition of Mortgagor. ~ } 23_ Mortgagor represents and warrants that it a corporation, it ia duly organized and validly existing, in good sland- ~ ing under the laws of the state of its incorporation, has stock outstanding which has been duly and validly issued, and is qualified to do business and is in good standing in the State of Flor~da, with [ull power and authority to consummate the ~ loan contemplated hereby: and, it a partnership, it is duly tormed and validly existing, and is fully qualified to do business in the State oi Florida: with tull power and authority to consummale the loan contemplated hereby. ~ - 24. 1n the event any one or more o( the pro~•isions contained in this Mortgage or in the Note shall [or any reason ~ be held to he invalid, illegal or unen(oreeable in" nny respect, such invalidity, illegality or unenforceabtity shall, at the r~ option of the 1liortg.igee, not at(ect any other provisions of this Mortgage, but this Mortgage shall be construed aa it such ' = im~alid, illegal or unenforceal~le pro~•ision hs~d never been contained herein or therein. The total interest payable pursuant ~ to the Note or this Mortgage ahali not in any one year exceed the highest lawtul rate of interest in the State of Florida_ 5 s 25. The covenanta and agreements hereen contained shall bind and the 6enefits ~nd advantages a6a11 inure to the 5 res~x~•ti~•e heirs, ezecutors, administrators, successors, and assigns of the parties hereto. Wherever used, the singular ~ number shall include the plural, the ~~lural the singular, and the use of any gender shali be appiicable to ali genders. All ~ ~ co~~enants, agreemente and undertakinga shall be joint and several. In the event additional numbered covenanta or para- graphs are tor convenience inserted in this Mortgage, such additional covenanta shall be read and given et[ect as though ~ following this covenant in consecutive order. ~ ~ C R { ~ 9~Or 3U3 PAC~ 8~ : . ~ - - . ~ _ _ - - - : -ar;~ s _ t ~ =r-~ ,~~:n:. ~ ~ ~ ~'u~~ ~ -