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Home My WebLink About0892 ~ „ :~~?ply surh mnts, ~~~urb und {~ru(ita mceivrcl t?y it un the indebtrcltuws ~ravrrd hereby, ~ lqich~order y~tgug~r delrr ~ninrs. '1'he right to ~ nter nnd tnke ~~~sesxiun of the Murtg~~gcd Pn,{~erty, to munuge und o~?e~ate the ~~me, und tu colle~•t the re~ts, isau~~u und pnitita lherc~t, whether by n nr•eiver o~ otherwise, shull be rumululive to any other right or remrcly hemunder or u(fo~ded by law, and may !~e exen•iued concuRently the~ewith or independenUy thereot. MoHgugee slu~ll I,e linble to aceount only (or su~~h rents, iaxues and prvtita ~etually received by Mortgagee. ~ 14. It the indebtednc~xs securrd hemhy is now or hereafter turther eecured bv ch»ttel mortg.igcas, ~•urity interesta, (inancing atatements, pl~~ges, contracta of gua~rnnty, axaignmenls of leaars, or other securities, or if the Mor~goged Pro- ~?erty hereby enrumhered ~~onaists ot more thnn one ~u~mel oi nal property, Mo~tgugee muy ut ita uption exhaurt nny onc : or more ot said securiti~? und securily hereunder, or suc•h parcels ot the security hereunder, either concurrenUy or inde- pendently, and in aurh order aa it mi~y determine. ' ` 15. Thia 1Nortgnge shall secure not only existing iodebtedneaa~ but also suc•h (ulure ad~•ances, whether suc•h ad~•unces ~re obligatory or to be made :~t the option of MortRzgee, or otherwise, as are mnde within twenty (20) yea~s (rom the d~te hereof, to the same e:tent as i( such (uture advun~~es were made on the date o( the ezecution ot this Mortgage, but such secund indebtednesa ~ll not e:ceed at any time the mnximum principal amount ot i N31 plus interest, und any disbursements made (or the payment of taxes, levies, or insuram-e, on the Morlgaged Property, with ' interest on such disburaements. Any such tuturn a~dvances, whether ubligalory or to be made til the option of the Nlortgtigee, or otherwise, muy he made either prior to or ntter the due date o! the Note or uny other notes secured by this Mortgage. This Mortguge is given tor the speci(ic pury~oae ot securing uny nnd s~ll indebtednexs by the Mortgt~gor to hlortgagee (but in no e~~ent shall the secured indebtednesa exceecl at any time the maximum princi~~al ~mount set forth in lhis ~kiragr.~ph) in whatever mnnner this indebtedness mny be evidenccd or reprnsented, untit this Mortgnge is w~tisfied of reiwrd. All coven- , ants and agreements contained in ihis Mortgnge ahall be npplic-xble to aU turther aidvances mndr by MortgaRee to Alorlg:igor under this (uture advance clause. 16. No deluy hy Mortgngee in exercising :~ny right or remedy hereunder, or otherwise a(lorded by law, shall o{~erute us n wai~•er thereof or preclude the exercise thereof during lhe continuance of any de(ault hereunder. No wa+iver by ~ Mortgagee of any detault shall constit~te a wai~•er ot or conaent to subsequenl de(aulls. No tailure of Mortg~gee to exerc•ise any option hemin given to accelerate mnturity of the debt hereby secured, no (orbeamnce by Mortgagee before or a(ter the exen•ise o( such option and no withdrawal or alu~ndonment ot torec•losure prucreding by I~lortgagee shall I~e taken or con- sfrued as a wai~~er o[ its riRht to e:emiae such option or to a~Y~elerate fhe maturity of the debt hereby secured by re:isc~n o( any ~~st, pre.sent or future default on the ~k~rt of hlortRagor: and, in like manner., the procurement ot insur:mce or the ~~:iy- ment of taYes or other liens or charRcs by AtortgaRee sh:~ll no! t~e t:~ken or ~Y~nstrued as a K•:i1Ver of its riRht to ai•celer.~te the muturity ot the debt hereby u~•ured. 17. Without atfecting !he linbility of Mortgagor or any other ~~erson (except ~ny {~erson exprnssly rele.~sed in writinR) for ~k~yment of any indebtedness secured hereby or tor ~~ertormance ot any obligation contained hemin, :md without af(ect- ing the rights o( Mortg.~gee with mspect to any security not exprnssly released in writing, MortgaRee may, at any time and irom time to time, either t?etore or a(ter the maturity of said note, nnd without notice or consent: la) Release any ~~erson li:~ble for puyment of vll or any part of the indebtedness or for ~xrformf~nce o( any obli~ation. (b) Aiake any aRreement extending the time or otherv?•ise altering the terms ot ~~yment of all or any ~~art of the indebtedness, or mcxlitying or w:~i~•inR :~ny obligation, or suhordinating, moclifying or otherv?•ise dealinR with ihe lien or charge hereof_ (c) Exercise or refr.~in trom exercisinR or waive :~ny ri~ht Mort~a~gee may ha~~e. Id) Ac~~e~~t additional sc~~urity of any kind. (e1 I2ele.ise ur othen~~ise deal w~ith any proE~erty, re<~I or personal, securing lhe indehtedness, including all or any ~u~r! ot the Mortgaged Pro~~erty. ~ ~ ~ 18. Any agreement hem:dter made I?y MortRa~or and A1ortRaRee pursuant to this mortRa~e sh:~ll he su~~erior to the ~ riRhts ot the holder of any inten•ening lien or encumbrance. ' f E 19_ Mortgagor hereby N'ai~•es all riRht of homestead exemption, if any, in the D1ort~aKec1 Yro~~erty. ~ t ; 20. In the event ot condemnation proceedings ot the Mortgaged Prv~~erty, the award or i•om~~ensation ~~yable there- ~ under is hereby assigned to and shall t?e ~wid to Mortgagee_ Mortgagee shal) be under no obligation to question the ~mount - ~ of any such award or com~~ensation and may accept the same in the amount in which the same shnll be paid. In any such t condemnation prexredings, Mortgagee may t~e repmsented try counsel selected by 1~lortgagee. The proceeds o( :~n~ award ~ or irom~~ensation so received shall, :N the option of rlortRagee, either be applied to the prepayment of the Note and at the ' q rate of interest pro~~ided therein, reKardless of the nte of inten~st ~wyable on the award by the condemning authority, or at . ~ the option of Alortg~Ree, such award shall Ix ~mid o~•er to \tortRaRor for restoration of the Alortg:~Red Property_ ~ ~ 21. If A1ortR.igee, pu~uant to a construction loan agrt~ement or lo~n c•ommitment m:ide hy 1~1ortRaqee K•ith AlortgaQor. ~ aRrees to make constru~tion lo:~n ad~:inces up to the princi~~:il amuunt of the Note, then Mortgagor hereby i•oeenants that it ~ will comply w•ith all of the terms, pro~isic~ns and co~~enants o( s:iid ~•onstruction la~n agreement or la~n c~ommitment, wiU ~ diliRently construct the impro~~ements to I~e huilt pursuant to the terms thereot. all o( the tertns thereof ~~hich are in- ~ ~•or~wr~ted herein by reterenre as Ihough set forth fully hen•in and will {~ermit no defaults to occur lhemunder and if :i de- ~ L•iult sh:ill ~-cur thereunder, it shall constitute a default under this illortR~ge .~nd the Note. ~ Y2. A! the optiun o( 11orfK:~gee, A1ortKakor sh.~ll pro~~ide \1ort~.igee with perioclic i•ertitied audited statements oI the ~ financial condition ol hlortRagor. ~ 23. TtortQaRor m~:rc~ents and w:~rr:~nts that i( c•ur~wr.~tion, it is duly ory;ani~xd and validly existinK, in ~ood stand- ? in~ under the IaN~s of thr state of its incor~wration, h:is st«•k outstandinq v~~hich h~s been duly and ~alidlt~ issued, and is ~ yualified to do husineu and is in Kix~d standinR in the St:~te of Florida, w•ith fuU ~?ower and autharity to consummate the s loan contemplatrd hemby: and, i( partner~hip, it i~ duly (ormecf .~nd validly existinR, and is fally qualific~d to do busine~s _ - in the State of Florid:i: ~vith tull ~x~wrr and authority to i•onsummate the loan contemplntec! hereby. _ 24. In the event any one or more of the pro~isions contained in this Mortqage or in the Note stu~? for any reason ~ t~e hrld t~ lie inv:ilid. ille~al or unenforce:ible in any res~?ect, such invalidity. illeRality or unenforceablity shall, at the option of the ~lorigaQee, not affE~•t any other pm~isions of this :~9ortgaRe, but lhis 111ortgage shall he construed as i( su~•h ~m•alid, illekal nr un~nfor~~e:~ble ~rro~ision had ne~er t?een contained herein or therein. The total interest puvable pursu:int x to the Nnte or this A'IortRaRe shall not in any one year ~x~•eed the hiRhest lawful r.ite of interest in the State of Florida. '2~. The co~enants and aKreements herrin ~•ontaincYi shall hind and the hene(its .~nd ad~'anfages ahatl inure to the rrs~x•~•ti~e heirs, exe~•utors, administr.~fors, su~•~•es_cors, and :issiQns of the parties hert~to. ~Vhere~•er usecl, the sinRular _ numl?er shall in~•lude the plor:d, the plur.~l the sinKular, and the use vf any Kender shall he appli~:ible to all ~enders. All• ~ ~•u~~enants, agreements and undertakinga shall I~e joint and se~•er.~l. In the e~•ent :~dditional numt?ered covenants or para- ~ ~raphs are (or convenience inserted in this MortQa~Le, su~~h addition:~l ~ocenants chall be re:id and Ri~~en eftert ~s thouQh ~ foll~wing this co~~enant in consecufi~~e order. _ - -3_ ~ k nr'~ 90GK Jl/ rq~f 8(t~1 , ~ , _ s~ - . _ ~ _ ;