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Home My WebLink About0496 . ~ ~ir :~~,~~I>• .uch mnls, i:.u.•, :ind Nrofita rc~•eivecl by~ il un Ihe indebte~cln~•:w u~•unvl herc•by in Ku~•h urd~•r as !~turl~;aK~v d~•tt~r- mi~irs 7'he ri~Ai tu ~~nt~~r :md take ~w~~c~~„ion ot Ihe l~lorlg:~K~rl 1'ro~K•rty. to man:~Ke nnd o~xr.~t~• the same, and to i•ullt~•t the rn~?ts, issu~~ ,~nd pn~Iits themuf, H•hether t?y a receiver or otherwise, sl?:+II !K~ cumulative to :~ny other right ur nin~,ly ' h~~mundc>r or aftordrei by IuN•, and muy l~e eicn•i~~d ~Y?mvrnmUy lherevrith or inde~x~odently the~nr,f. Atu~tKaK~r sh:~ll ' I~e liuble to arcount only for such mnty, issuesund profits tictually rcti~eiv~~! by MortguKc~. 14. If the indeht~dne~ ~vnd hemby is now on c~~mu(tec turther secureci by ~•hnttel murlK:~K~w, s~yurity it?Iemsts, finum•inR statemenfs, plcrlKc~s, cont~ai•Is of ku.~runty. :~v.,iK~in?enfs oi leuses, or other ~ec•urities. or if~he Mortgs~ged Yn?- ~K~rly hemby encum!?ered ~~nsists ot more th.~n one ~u~rcel o( nul pn>~~erly, Alortgug~r miy a~l its opfiun NYIIiIUS~ uny one or mun of s~~id sc~•urities .~nd se~vrity hereunder, or xui•h ~x~rrnlR o( lhe sc~•urity hemunde~, either cwicur~ntly or inde- ~x~nd~•ntly, und in such order as it muy deterniine. 15. This 11lortRi~gR ah;il~ ~etruie, not only existinR indebtednes4, but nlxo su~•h (uture advunces, whether such :idvancc~c a~re obligalory ur to be mude et the option o( riortgagee, or othetwise, t~s nm made within twenty~ 120) ycara (rom lhe datc hereu(, to the same extent .ts if such (uture ad~ances wem made on thc date ot the exe~•utjon of this MortRuKe, but such securnd indebtednesq shall not exceid at nny time the muximum princi~u~l umuunt of S- 3,944.92 plus interest, and nny disbursementa made tor Ihe ~~yment o( taxes, levies, or insun~n~•e, un the MoNRaKed Pro~x•rty, with interest un such disbursements. Any such future advances, w•hether oblig.~tory or to I~e maJe at lhe option of thr MortK.iRee, or otherwise, muy be made either prior to or u(ter the due d~ite ot the Note or ~ny other noles securc~cl i?y this htortgage. This I~lorlguge is gi~•en for the specific pur~~ose of sc~vrinK any :~nd all indebtedness by Ihe MortK.iKor Io 111urtRuRec (but in no event shall lhe secured indebtedness exceed at :~ny time the m.~ximum prin~•i~k~l a~nount set fort~ in this ~uir.~Kr.~ph) in ; whate~•er manner this indebteclness may IM eviden~rd or repmsent~d, until this MurtKage is s:~tisTied of rc~•ord. Al) croven- ants .~nd agmements cont~ined in this 111ortg~~Re shall 1?e applicable b aU (urther :idvuni~ made 1?y MortgaKee to 1lfortRagor under ihis futum advanir clause. 16. No delay by Nlortgagee in cYOrcising any right or mmedy hcreunder, or otherwise af(arded by I;~w, shall o~~erate as a wuiver themof or prec•lude the exercise thrrcwf during the eontinuunce of :~ny defuult hereunder. I\o wai~~er by ~1lortgug~~e ot any default shull ~~onstitute a wai~~er o( or consenl to sul~uent defaults. No failure of Mortg:~Rcr to exerrisc any option herein ~i~•en to acrnlernte m~turiiy o( the debt hemby scvurrd, no tort?e.~r.~nce by Mortgagee betom or atter the exemise of such option :~nd no withdra~+•al or atk~ndonmen! of tore~•losure pro~•ec~ling by Alortgagee shall be t:~ken or cron- strucd ns a w:~i~~er of ita riRht to exerrise such option or to aiYrler.~te the maturity of the debt hereby seivrecl by mason of am ~k~st, prc~nt or future def.iult on the ~~:~rt ot Aiort~;:~~or. :~nd, in like m.?nner, the pro~•urnment of insuran~r or the ment of taxes or other liens or charK~~ I?v A1ortRaRtr ~hall not Ix~ taken or construed as a w.~i~~er oi its right to :u•.•c~ler.de the nu~turity o( the dei~t hereby uYVmci. . - 17. ~Vithout affecting the liability of 1~lorlgakor or any ather ~mrson lexc~pt any ~~erson eYpres,ly mleasecl in w•ritin~) for ~x~yment ot any indetAedness seci~n.~cf hereby or for perfortnam~e of any obliRation contained herein, and without affc~~t- inR the riRhts of Ator1R:~Kee wifh res~~•t to any sc~•urity not expressly releusecl in writinR, I1'Iort~aRee may, :d ~~ny lime and fmm time to time, either t?efore or atter the ~iaturity of c~id note, nnd without gotice or consent_ _ ~ ~•-r,+~~, r.-vi; r. . ~ - - ~ la) Release any E~crson li:~ble (or ~~:tyment of all or :iny p~ri o[ t~ie indebtc~tlnesa or for perfo~man~~e of :~ny c~blikation. (b) Aiake any :~greemen! extending the time or othe~•ise ~Iterin~ the lermg o! ~~ayment of all or any part of the indebtecinc~s, or modifyin~ or w;~ivin~ anv ohliQ:ition, or sutx~rclinatinR, mocli(yinR or otherw•ise dcalin~ ~•ith the lien or .•har~F hereof_ • ~ I~~i ~ xercise or refr.iin from exen•isinR or w•aivi~ :~ny riQht ~tort~:IR,fY• m:~y ha.e. Id) Accept additional ~c~•urit~ of .my kind. Ie) F2rtease or othenvi~ deal with uny pm~~erty, real or ~x ru?nal, se~vrin~ the indehtednrss, i~cludinR :~U or any part of the 1ltort~aged Pm{~ert~•. ~ • 18. Any a~n~ment herealter made hy ~lortga~or and 1~fortRaKee pursuant to this morlk:~Ke shall t~e su{~erior to th~ ri~hts of the holder of any inten•enin~ lien or encumbrance. ' 19. Alortgagor hereby wai~•es :ill riRht o( honiestead exemption, if any, in the AtortRaRc~ Yro~mriy-, i f Y0. In the e~•ent of ~~ondemn:ition prcx•eedings of the 1~torigaged Pro{~erty, the award or ~rom~>enk~tion ~w~~able there- under is hereby :~ssigned to and shall i~e paid to AfortRagee. 1~loriga~ee shall t?e under no obligation to questio~ the amount ! of any such aµ~ard or com~~ens:~tion and may arcept the same in !he amount in which the s:~me shall be p.~id. In :~m~ such ~ condemnation pro~-ec~lings. ~tort~aRee mny t~e represrnt~Y1 in• ~~ounsel selected by 111ortgagee. The procreds of any :~K•ard p or compensation sn re~~eived shall, at the optio~ of AlortgaRee, either be applied to the prepayment of !he Note :~nd at the = r.~te of intemst pm~•ided therein, re~ardless of the r.ite o( interest ~~yable on the aw•ard by the condemninR authority, or at ; the option of rtortRaRce, such aw'ard ~h~ll t~ paid o~•er i~ 111ortKaRor for re~tor.~tion of the Mort~aRed Pmperty. ~ 21. If :~lortga~ee, pursuant to a~•onstraction lo.~n aRrrement or I~an commitment made by Mort~a~ee with 111origa~or. ~ aKrees to m:ike construction lo:in ad~•anc~s up to the prin~•ip:d amount of the Note, then T1ortRagor herehy i•m'enants that it s ~ will comply with all of the terms, pro~•isions and ~•o~•enants o( s:iid mnstn:ction loan a~reement or lo:~n commitment, w•ill ~ diliRently i~onstruct fhe impro~~ements t~ he built pursuant to fhe terms thereo(, all of the terms thereof which :ire in- ~•ur~x~r.~tc~f herein by referen~•e as thnuKh :mt forth fully herein and w•ill ~~crmit no defaults to occur thereundrr and i( d~- ` L•iult sh:il! oc~~ur thereunder, it shall ~•onstitute a detault under this A9ortgaRe and Ihe I~ote_ ~ a 22. At the option of 111ortR:~~c•e. \Tort~:~For sh:~ll tiro~~id~ \1ort~aRee µ•ith ~~ericxlii• ~~erti(iecl audit~~ statements of the - (inan~•ial ~•ondition of Alortg:~For. ~ _ - 23. ~tortya~;or represents and warr.~nts that if a i•vr~ior.~tiun, it is duly orK.inize•d :ind ~•nlidly existin~, in ~~~1 st.~nd- inQ under the la~cs of the st:~te• of its in~~or~x~r:~iion, h:is sto~•k outstanding w•hii•h has ix.~c~n duly and ~alidly issuc~d, and is ` quali(iec~ to do businexK and is i~ Roocl slandinR in the St:~tc• of Florida, with full ~?ower and .~uthority to consumm:~te the ~ loan ~•ontempl.~ted hemhy: and, if a parinership, it i~ duly (onned and v:ilidly existinK, and is fulh~ qualific~cl to do business ~ in the State of Ftorid:~: with full ~wwer :~nd authority to ~•onsummate the loan contemplated hereby. 24. In the e~•ent any one or more o( the provisions ~•ont:~ined in this blortKa~e or in the Nole shall for any reason Ix• held to I~e im~:ilid. i11eKa1 or unenforcraDle in any res~?c~•t, such im~:~liditv, ille~ality or unenforce:~hlity sh~ll. at the ~ o~ition of the A'Iort~aRre, not at(ei•t :iny other pm~~isions o( this i1lortRaRe, hut this 1~tortKaRe ghall t~e construe~l as it sui•h im:ilid. illeKal or unenlorc•e:~hle pro~•itiion had ne~~F•r :xen ~•ontaineci herein or therein. The total interest ~u~yalrle pursuant ' to the ~Jote or this ?ltortK:iKe sh<~II not in any one }•~~ar ex~•~~~~d the hi~hest I:~wful rate of interest in ~the Sfate of Florida. r 2.5. 'I'he covenants and aRreements herein contc~intYi sha~l) bind and lhe Ixneltts :~nd :idvant.~ges shall inure to the ' ' res~xY•tive heirs, exec•utors, administrators, successor~s, and :issiKns of the p~~rties hereto. Where~~er used, the sinQut:~r =i numlier shall include the plurnl, the plural the sin~;uL•~r, :~nd the use of any Render shall t?e applicable to all Renders. All ~•o~•enants, a~reements :~nd undertakin~;s shall I~e joint :ind se~•cr.~l. in the e~•enl :~dditionnl numbered co~•enants or ~u~ra- Kraphs are tor con~~enience inserted in ihis 11ortR.iRe. ~uc•h additiun.~l ~•ocenants shall be read and Ri~•en effe~•t :is thou~h (ollow•ing this co~~enant in consecuti~•e order. ~ ~ ~ ~ - -3- ' ~ ~ooK ~~8 aacE 4~ ~ ~ , ~ ~ . ~ _~~-a. ~ . _ . .