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Home My WebLink About0734 apply such rents. issu~~ .ind pro(its recei.t~ ~ il on the tndebtedneus eecured he~eby ia such onier as Morigagee deter minrs. The right to ente~ and take poss~saion of the Mo~get} PropeMy, to munage and opernte the same, ~nd to collect the rents, issues und protits thereof, whether I~y a receiver or oiherwise, shall be cumulative to any othe~ right or remcdy hernunder or attorded by law~ and may be exercised concurrenUy therewith or independently thereot. Mortgugee ahall t~ liable to account only tor auch renta, isaues and protits artuully received by Mortsagee. 14. If the indebtedness secured hereby is now or hereafter [urther serured by chattel mortgoges, aecurity interests, linancing slatementa, pledgea, contracts of guarunty, assignments o( lesaes, or olher securitiea, or it the Mortgaged Pro- perty hereby eocumbered consista ot more than one pnrcel ot r~al properiy, Mortgagee may at its option eYhnust anv one or more ot said securities and security hereunder, or auch parcela ot the security hereuoder, either concurrently or inde- {~ndently, and in such order as it may determine. ~ 15. This Mortgage ahall secure not only existing indebtedness, but alao such (uture advances,-whether such advances ~ are obligatory or to be made at the option of Mortgngee, or otherwiae. aa are made within twenty (20) years trom the date hereof, to the aame e:tent as if auch luture advances were made on the date of the execution ot thia Mortgage, but such 9ecured indebtedness sha11 not e:ceed at any time the maximum principal umount of = ~ _ plua interest, and any diabursements made tor the payment o( taxes, levies, or insurunce, on ihe Mortg~ged Properly, with Y 1 interest on such disburaemenls. Any such [uture udvances, whether obligntory or to Le made at the option of the Mortg:~gee, ; or otherwise, may be m~tde either prior to or a(ter the due date ot the Note or any other notes secumcl by this Mortguge. ~ This I?~ortgage ia given tor the specific purpose o( securing any and all indebtednesa by the Mortgagor to hfortgagee (but in no event shaU the aecured indebtedness e:ceed at any time the ma:imum principal uniount set tocth in this paragr~~~h) in i whutever manner this indebtedneas may be evidenced or represented, until this Mortgage is satisfied ot recotd. All coven- :~nts and agreements contained in thia Mortgage shall be applicable to aU turther advan~-es mnde by Mortgugee to Mortgagor under thia tuture advance clause. 16. No delay by Mortgagee in exercising nny right or remedy hereunder, or otherwise at(orded by law, shall o~~erate :~s a waiver thereof or preclude the ezerrise thereo( during the continuance of any delault hereunder. No wniver 1?y 114ortgngee of any default shall constitute a waiver of or consent to suh~equent de(aults. Na failure o( Mortga~gee io exercise any option herein given to accelerete•maturity of tt~e debt hereby secured, no torbearance by MoHgagee i?efore or after the eYemise ot such option and no withdrawal or abandonment ot toreclosure pra~eeding by Mortgagee shall be taken or ~^on- strued as a waiver oF ita right to e:erciae such option or to accelerate the maturity of the debt hereby secured by reason of j any past, present or tuture detault on the part ot Mortgagor; and, in !i!~e manner, the procurement af insur.~ra~e or the {~:iy- ment o( t~xes or other liens or charges by I?iortgagee ahall not 1?e taken or rnnstrued as a waiver of its riRht to acerler.~te ; i the iraturity of the debt hernby secured_ . ~ I?. Without atfecting the liability o( Mortgagor or anv other ~~erson (exce{~t any ~~erson ex~~ressly released in w•riting) i (or payment ot any indebtedness secured hereby or for performance ot any obligation contained herein, and without at(ect- ~ ing the rights of Mortgagee with respec•t to any aecurity not expres~ly releasrd in writing, Alortgagee m:iy, ;~t any time and from time to time, either he(ore or atter the maturity of said note, and without notice or consent: ~ ~ (a) Release any ~~erson liabie tor p:iyment ot all or any ~~art of the indebtednees or tor performance of any oblig~tion. ~ (b) Make any agreement extending the time or otherwise altering the I~rpia ot. payment o( all or Any part of the indebtedneae, or modifying or waiving any obligation, or suhordinating, modi(ying or otherwise dealing w•ith the lien or charge hereof. # {c) ~cemiae or refrain from exemisinR or waive any right MorlRaRee may have. ~d) Acc-ept a.lditional security of any kind_ (e) Release or otherwise deal with any pro~~erly, real or personal, securing the indebtedness, includinR all or any ~h~rt of the Mortgaged Property. fi 1R. Any agreement here-atter made by Mortgagor and MortRaRee pursuant to this mortRaRe shall be su~~erior to the ~ rights of the holder of any interven~nR lien or encumbrance_ ~ ; 19. Mortgagor hereby wai~•es all right of homestead eYemption, if any. in the h1ortg:iged Pro~~erty_ ~ ~ 20. In the event o[ condemnation proceedings of the D4ortgaged Properiy, the award or c-ompensation ~h~yable there- j under is hereby assigned to and shall t?e paid to Mortgagee_ Mortgagee shall be under no obligation to question ihe amount j of any such award or compensation and may accept the same in the amount in which the same shall be ~~aid. In any such ` ` condemnation procecdings, Mortgagee may be reprnsented t~y counsel selected by Mortg~gee. The proceeds of any award ~ or compensation so received shall, at the option ot Mortgagee, either be applied to the prepeymcnt of the Note and at the = r.de of interest pro~-ided therein, regardless ot the mte of interest ~k-~y~:: le on the award by fhe condemning authority, or at - the option of 114ortgagee, such nw•ard shall 1?e ~k~id over to 141ortgagor tor restoration of the l~tortgaged Pro~~erty. ~ - ~ 21. I( Mortgagee, pursuant toa ~onstruction loun agrrement or loan commitment made by Mortgagee H~ith hlorfg.~gor, - ~ :~Rrees to ms~ke consttuction loan ad~•ances up to the principal amount of the Note, then Mortgagor hereby covenants that it w~ill cumply w•ith all ot the terms, provisions and co~-enants of said construction loan agreement or loan commitment, will ~ diliAenHy construct the impro~•ements to he built pursuant to the terms thereot, all of the terms thereof whic'h. are in- ; corpon~ted herein by reference as though set torih fully herein and will ~~ermit no defaults to occur thereunder and i( a de- ~ fault stwtl occur thereunder, it shall constitute a de(ault under this 114ortRage and the Note. ~ 22. At the option of hlortgagee, l~tortgagor sh:dl pmvide MortgaRee with periodic certified audited statements of the (inancial condition ot 1liortgagor. ~ Z:i. Mortgagor represents and ~arr:ints that i( a i•or~x~r.~tion, it is duly orRanized and v~lidly existing, in Rood stand- ~ ing under the laws of the state of its in~•or~~oration, has stock outstanding which h.~s been duly and ~-alidly issueci, and is ~ ~ yualified to do business and is in Kood standing in the State ot Floride~, with full power and authority to consummate the > loan contemplated hereby; and, if a ~~artnership, it is duly tormed and ~:~lidly existing, and is fully qualified to do busine.c~ 3 in the State of Florida: with full ~~ower and authority to ronsumm:~te the loan contemplated hereby. . 24. In the e~•ent any one or more o( the pro~isions contained in this Mortgage or in the Note shall [or any reason _ 1~e held to t?e invalid, illegal or unenforceable in any res~~ec•t, sui•h im•alidity, i1leRality or unenforceablity shall, at the a option of the AtortgaRee, nof atfect any other provisions of this htortgage, but this 111ortg~ge shall be construed as if suc•h in~:did, ille~;a) or unen(or~r:~ble pm~~ision had ne~•Pr been containc•d herein or thernin. The btal interest p.~yable putsuant ; to the 1~3ote or this 11~1ortRage sh:~ll not in any one year exreecl the highesi lawful rate of interest in the State of Florida. ; # 25. The co~•erwnts and agreements herein coMaintd ~hall hind and the bene(its and ad~•antaQes eh:~ll im~re to the ~ ~ rrs>>ec•ti~~e heirs, exeevtors, administrators, sucsessors, :~nd assi~:ns of the p:~Hies hereto. ~Yhere~•er usecl, the sinRular - ~ numt~er shall include the plur.il, the plural the sinRular, and the use of any Kender shall t?e applicable to all Renders. All ~•o~•enants, agreements and undertakinga shall f~e joint and se~•eral. In the e~•ent additional numt?ered coven:~nts or ~~ra- •t graphs are for com•enience inserted in this MortRaRe, such additional co~enaNs shal) be read and Ri~•en effect as though ~ following this co~~enant in consecuti~•e order_ ~ ~ k -s- secr c~ub ~~cE 7~~ ~ ~ _ _ . ~ . - .x.~~