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Home My WebLink About0081 1 :~~?ply Kui•h n~nts, i~,u.~ unJ ~?n,lita r~~•rivc~l i?y it un the indebtc~l~u•us ,~vrrc! hemby in,au~•h orcle~ :~s ~AtortK:~K~y ~1et~•r m?n.•x. 7'he right to ~•nter and tuke ~x~s~n~sion of the MorlgaRed !'n~(~erty, to manuge and u~Kr.~te Ihe xu»e, und to coUcY•t • the renls, iasues u~d pw(ita thercti~f, whrth~r by a n~~ei~~er o~ olherwise, ahtdt t~e cumulative to uny other right nr n•m~rly hemunder or nt(orded by la~w, and may lie exen•ised concurrently lherc~with o~ iode~?endently thenv~t. MortgaKee shull I?e liable to itccount only for such mnts, isaues und pro(its ui•tuully mceived by lllortgugee. 14. If the indebtedness secured henby ie now or hereaftPr (urther secured I~v ~~h:~ltel mortKug~w, sec•urily interests, tina~nring ataitementa, pleclges, contracts o( guarunty, ~is,vignmenls of le.~strs, or other ~•urities, or if the Mortgt~ged Pro- {x~r1y herrby encumt~red consists of more than one ~xui•el o( mu) pro~~erty, Mortgngee mny nt its option exh:~ust any one or more ot suid xcti•urities und eec•urity hereunder, o~ xuch purcels of the security herrunder, either concurrrntly or inde- ~~endently, und io such order ua it muy deterniine. 15. 'I'his Mortgage ahnl) se~vre not only existing indebtedneus, but also such tuture ad~~un~rs, whether such .~dvances ~ce obligutory or to t~e mude ut the oplion ot Mortg.~gee, or otherwise, as nre mtide within twenly (20) yeara from the date hereot, to the svme extent ais it such (uture udvances were m~de on the dute of the execution ot thia MortgnRe, but such secured indeblednesa shr~ll not e:ceed s~t any time the muximum princi~uil amount of E NA plus interest, and uny disl~ursements ~nnde tor the payment ot taxes, levies, or insur.~ncr, on the Alortgaged Property, with interest on such disbursements. Any such (uture Ad~~i~n~ti~, whether oblig.itory or to be m~de al lhe option of the Mongagee, or otherwise, may t~ made either prior to or ufter the due dAte of the Note or any other notes secumd by this Mortgage. This Mortguge is gi~~en (or lhe speci(ic pu~~~ose of securing nny .~nd all i~debtedness by the MortRagor to Mortgagee (but in no e~~ent shall ihe secumd indebtedness e:ceed at any time the m.~ximum princi~wl t~mount set forth in ihis ~?:~r~Rr.~ph) in wFwtever mAnner lhis indebtedness mny !?e evidenced or represented, until this rlortg:ige is satisfiecl of record. All co~~en- ants and ugreemenls contnined in this MortgaRe ahall he :~pplicable to all turlher z~dvancc~s m~de by hlortg:~gee to MoHgagor under this tuture .idvanrc clauae. 16_ No del.iy by Mortgagee in exercising :~ny right or remedy hemunder, or olhrn+~ise af(orded by law, shall u~?eratc as a waiver thereof or preclude the exercise thrn,rof during !he rontinuance o! any default hereunder. No wai~•er bv Mortg:~gee of any def~~ult shall conslitute a wai~~er ot or conaent to sul?sequent detaults. No fnilure o( A1ortKaRee to exen•i+e any option herein gi~•en to accelenite maturity of the debt hereby secured, no torbraranre by Mortgagee l,efore or after the exerc•ise of such option and no withdrawal or atwndonment of forec•losure pra•eeding by 111ortgagee shaU be taken or ~•on- strued as a waiver ot its right to exen•ise such option or to ai•celer.de the maturity of the debt hen•by sec•un~ by rnason of any ~~:~st, presrnt or future default on the p:~rt of ~4ortgaKor: ~nd, in like m.+nner, the ~~rocumment of insuran~•e or the ~?:~y- m~nt of taxes or other liens or charKes by ~11ortK:iRcr sh:~ll not I~e taken or i•onst~ued as a N':ilYPr of its riRht to :u•~•e~Irr:+te the niaturity of tht: debt hereby sec•urecf. . 17. Without a(fecting the liability o( MortgaRor or any other ~~erson lexcept any ~?erson eaprc~sly releascK! in writioR? for Ek~yment of any indebtedness ~•ure~cl hereby or for ~~erformanre of any obliR:~tion contained herein, and without :~((e~•t- inR the righls ot MortRnRee with rc~~~ect to anV sc~•urity not expreasly released in writinR, A4ortKaRee may. :d any fime and from time to time, either befom or ~fter the m:~turity of s:iid note, and without noticr or consent_ (a) Rele~se any ~mrsan li:~ble tor ~~:iyment o( al) or any ~wrt of the indebtedncKS or for ~~erformance ot any obli~;atiun. (b) A'lake any agreement extrndinR the time or otherwise altering lhe tern~ o( ~Myment o( all or any ~k~rt o( the indebtedness, or modityinR or w:~i~•in~ any obli~ation, or sui~ordinatinR, modi(ying or otherx~ise dealing w•ith the lien or ~~harRe hereot. (c) Exemise or refr.~in fmm exeu•ising or wai~•e any riRht A7ortRa~t~e may ha~•~~. Id) Acirpt additional sec•urih• of any kind. (e) Rele.ise or otherw~is~ deal with an_y pro~xrty. real or ~~ersonal. secvring the indebtedness, ~ni•luding all or:iny ~?:~rt ot the illortgaged Ptv~~erty. 18. Any ~Rreemenl hereatter madi• try 111ortRa~or and :~tort~:~~ee ~?ursuant to this mort~;:~Re sh:ill 1~~ su~x~rior to thr ~iRhts of the holder of any inten•eninR lien or encumbr.~m~c~. 19. A1ortRaQur hrreby wai~•es a11 riRht o( homeste:id exemption, if :~ny, in the AtortRaKc~1 Ym~~rty. ; :.~0. In the e~•ent o( condemnation ~~rcx•~~crdinKs ot the Mortgaged Yro~~erty, the award or com~~ens:dion E~:~yable there- ~ under is hereby assigned to and shall i~e paid to MortK~~K~'- 1~lortgaRee shall be under no obligation to question ihe amount ; nf any such a~+•ard or compensation and may ar~rpt the ~me in the amount in which the same shal) he paid. In any such ~ s ~•ondemnation proc•eedings, hlortRaKee may t~ repn~entrcl Iry e-ounvc~l selri-led hy A'IortRaRee. "The pr~•eecfs of :~ny aN'ard ur ~•ompens:~tion so recei~•ed shall, at the option of MortRaKee, either be applied to the pre~~ayment of the Note and at the s rate of interest pm~-ided themin, reKardleqs o( the r.~te ot intemst ~ayahle on the a~+~ard b the condemnin 1 y g authorit~~, or at ~ the option of hlortg~Ree, such aw:~rd shall I~e paid o~-er to l~iortq:~gnr fu~ restor.ition of the hlortkaged Pro~~erly. z ~ 21. If lbiortRaRee. pursu.int to a i•onstruction luan :~Krtrment or loan comm~tment made by illortKa~cr with ~tortKaKor. ~ aRmes tu m:?ke ~•onstru~•tion lo:in ad~an~•~w up to the princi~~al amount ot the Note, then A1ort~agor hereby cacenants th,it it µ•ill comply N~ith all o( the ternis. procisiuns .~nd co~enants o( ~~id consfru~•tion loan :~Rreement or loan ~•ommitment, Nill ~ diliRently consfnict the improcements to t~e built pursuunt to the terms thereot. all o( the term~ thereuf ..•hich are in- ~~orEwratecl hera•in by mference as thuugh set (orth (ulh~ hemin and w•ill ~xrmit no defaults to rx•cur there•undc•r :ind if a dr- ~ L•?ult sh:ill cx-i•ur thereundF~r, it sh:~ll ronstitute default und~•r this A1ort ~ e and the ~1ote. ~ R' R ~ 22. At Ihe option of A]or1R.~~~-~•, ~1ortR:~~;or sh:~ll prmid~ ~tortR.+REr H•ith ~x~ri~xlii~ certilii•d :~uditecl st:itements of the i tinartcial conditiori of ~lortk:~Kur. ~ 'l3. MortRa~or mpresents and warr:~ntti that if i•ur~x~ratinn. it is duly orK,inized and ~~alidh• existinK. in K~Hrd stand- ~ inK under the laws of thr state nf its ~n~•orFxxation, h:~s st~x•k oulst~~ndinK whi~-h has ix-en duly and ~:~lidly iatiuc~d, and i. yuali(ied to do busint•~ and i~ in K~Hxl st:~ndinK in th~ St:~te u( Plorida, with (ull ~N~wer and authority to ~•onsummate the loan ~•ontemplated heret~y: and, if a partner~hiF?. it iK duly fornicYl :~nd validly exi~tin~,and is tully qw~liiird to dn husinecs in the State o( F'lorid:~: ..~ith luil ~,o.+•er :~nd authority to ~•onsummate the loan c~ont~mplated hereby. 24. In the e~~E•M .~m~ one or more o( thr pro~isions c•untaintVl in this Mortg.~~e or in the 1\ote sh:ill for :inv re:~x~n Iff• held to IM im~:~lid, iUeQal or unenforceahlc~ in nny resE?~~t. su~•h im~:~lidity. illrgality or unt•n(orceablity chall, :~t thc~ ~ option of the MortR:~~;ee, not :ilfcr~t ;iny other prm-is~o~is o( fhis Atortg:~Re, hut this :11ort~aKe sh:~ll tre construed as il su~•h im:~lid, ille~al or unc~n(on•e:~Lle prcn•icion had ne~~~r I~een ~•onta~ined her~~in or therein. The total interest payahle ~~ursuant Io the Piote or this A1ortKaKe shall nat in :~ny one ~•ear ex~•c•f•d tht• hi~;h~~st law~ful r.~t~ of intemst in the State of Florida. 25. The c•o~en:ints and :~Rn~ments herE•in rontained sh.ifl hind and the 1mneFits and ad~~:~nta~rs shall inure to th~~ n•s~ff~i•ti~e heirs, excvvtors. :ulm~nistr.itors, suc~~~~s,ors. :~nd assiRns of the parties hereto. ~Vh~r~~~•Pr usecl, the sinRul:~r ? numlmr shall in~•lude the plur:~l, the plural thr sinKul:~r, :~nd Ihe usc• any Rrnder sh:~ll I~ :~p~~li~•ahle to all Qc~nd~rs. All ro~•enants, aRrc>ements and undertakinRa shall I~ joint and ~~er.~l. In the c•~~ent s~dditiunal numF?erecl ~•o~e?uints or para- s ~raphs are for com~enien~•e ince~rted in this 111ortK:iKe. ~u~•h :~ddition:il ~•~icrn:~nts shall Ik~ read and ~i~en effe~~t ac th~~uQh follow•ing this co~~enant in c•oncecuti~~e order. ~ ~ -3- 0 R BOGx 3U5 `A~E 81 ff ~ ~ _ _ ~