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apply such rents, is+ues :uul profits rf•f•eivrd by it on the indebtednf•ess secured hereby in +IUC•~ outer sr~ 11~orl~g~r deter,
mines. The right to entf•r and take twssessiun of the 119ortgaged Property, to manage and ol,erate the w+me, and to collfr•t
the rents, is.4ues and prulits thenrof, whether by ref•eiver or otherwise, shall t,e cumulative to any other right or remf•cty
hereunder or afforded by law, and ms+y t,e exercised concurrently therewith or indeN~endently thereof. Mortgagee shall
he liable to ucfrow+t only for such rents, issuf•s and profits actually refeived by Mortgagee.
14. If the indebtedness secured heml?y is now or hereafter further sec•urrd by chattel, mortgages, sefurity interests,
financing statements, pledges, frontrac•ts of guar.+nty, assignments of leases, or other sefurities, or if the 141ortgaged Pro-
pcrly hereby encumt,erf•d cronsists of more than one lu+n•el of re:+I pn,l,erly, Mortgagee may al its option exhaust any one
or more of said securities and sf•f•urity hereunder, or such parcels of the security hereunder, either concurrently or inde-
t,endently, and in such order :rs it may determine.
15. This Mortgage sh:dl sef•ure not only existing indebtedness, but also such future advunf•es, whether such advances
are ohligaiory or to t,e made at the option of Mortgagee, or otherwise, as are made within twenty (20) years from the date
hereof, to the same extent as it such future adv:mces were made on the date of the execution of this Mortgage, but such
see•ured indebtedness shall not exftird at any time the maximum principal amount of a NSA
plus interest, and any disbursements made for the payment of taxes, levies, or insurnnfr• on the Mortgagfd Properly, with
interest on such disbursements. Any such future advances, whether obligatory or to I,e made at the option of the Mortgagef••
or otherwise, may he made either prior to or after the due date of the Note or any other notes secured by this Mortgage.
This Mortgage is given for the spf~•ific purl,ose of securing any and all indebtedness by the Aortgagor to Mortgagfe (but
in no event shall the secured indebtedness exceed at any time the maximum princil><~1 :+mount set forth in this tmr.+gr.+ph) in
whatever manner this indebtedness may he evidenced or represented, until this Mortgage is s:+tisfied of refrord. All coven-
ants and :+greements crontained in this Mortgage shall I,e :q,plic:+hlc to all further advancfs mule by Mortgagee to
Mortgagor under this future udvanfr clause.
16. No delay by Mortgagee in exerfising any right or remedy hemunder, or otherwise afforded {w law, shall oper.Ue
as a waiver thereof or prre•lude the exercise thereof during the continuance of any default hemunder. No waiver by
Aortgagee of any default shall fronstitute a waiver of or consent to subsequent defaults. No failure of Mortgagee to exen•ise
any option herein given to acrelerde maturity of the debt hereby secured, no torbear.+nce by Mortgagor before or after the
exercise of such option and no withdr.+wal or abandonment of foreclosure pra•eeding by 111ongagee shall 1?f• taken or con
sirucd as a waiver of its right to exercise such option or to accelerate the maturity of the debt hereby sf•f•urfd by reawn of
any past, present or future default on the p:+rt of I1lortgagor, and; in like manner, the procurement of insurmce or the p:+y-
mcnt of taxes or other liens or chargfs by Mortgagee ,hall not lie taken or construed as a waiver of its right to arceler.+te
the tru+turity of the debt hereby sef•ured-
17. Without affecting the liability of Mortgagor or any other l,erson lexcept any 1?c•rson expressly released in writing)
for lr+yment of any indebtedness secured hemhy or for I,erforrnance of any obligation contained herein, and without atfer•t-
ing the rights of 4tortgagee with resl,ef•t to any security not expressly released in writing, Mortgagfe may, at any time and
from time to time, either Ix•fore or after the maturity of s:+id note, and without notice or f•onsent:
(a) Release any I,f•rson liable for lx+yment of all or any part of the indebtedness or for tx•rtormance ul any obligation.
Ih) b'(ake any agreement extending the lime or otherwise altering the terms of payment of all or any hart of the
indebtedness, or modifying or waiving any obligation, or sul,orelinating, m«lifving or otherwise dealing with the lien or
charge hereof.
(c) F.xen•ise or refr.+in Irom exercising or waive any right Morlgage•f• may have.
(d) Accept additional se•r•urity of any kind.
le) Release or otherwise deal with :+ny protx•rty, real or I,ersonal, securing the indehtednesa• including all or any part
of the Mortgaged Property.
1K. Any agreement henafter made by Mortgagor and Mortgagef• pursuant to this mortgage shall Ix' sutN•rior to the
rights of the holder of any inten•ening lien or encumbrance.
f l9. 1ldortgagor hereby waives all right of homestead exemption, it am•, in thf• ;11ortgaged Prol,e•rtc.
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E Y0. In the event of condemnation pr«•frdings of the Mortgaged Property, the award or compens:+tion payable there-
under is hereby astiigned to and shall I,e paid to Mortgagee- Mortgagee shall t,e under no obligation to question the amount
of any such award or coml,ensation and may accept the same in the amount in which the s:+me shall t,e paid. In any such
rrondemnation pr«•eedings• Alortgagf•e may he represented by counsel selected by Mortgagee. The proceeds of any aHanl
or compens:+tion so received shall. at the option of Mortgagee, either he applied to the prepayment of the Note :+nd at the
i rate of interest pmvidfd therein, regardless of the rate of inten•st payable on the award by the condemning authority, or :d
the option of itlortgagee• sue•h award shall fx• paid over to illortgagor for restoration of the 1\tortgagecl Pml,erty.
21. If Mortgagee, pursuant to a construction loan agre•f•ment or loam commitment made by Mortgagee with Mortgagor,
agrees to make construction lo:+n ad~:mf-f•s up to the principal amount of the Note• then Mortgagor hereby covenants that it
will comply with all of the terms, provisions and covenants of s+id r•onsiruction loan agreement or loan commitment, will
diligently constnrct the impro.•ements to lN• built pursuant to the terms thereof, all of the terms thereof which are in-
cortN,r+ted herein by reference as though set forth fully heroin and will tx•rmit no det:,ults to occur thereunder and if a de-
fault shall «•cur thereunder, it shall constitute a default under this Mortgage and the Note.
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~ 2Y. At the option of Mortgagfr, Aortgagor shall provide Mortgagee with tN•rirxlic• certified audited statements of thf•
financial condition of \lortgagor.
23. Mortgagor n•pnsf•nts and warr:u+ts that if a cortN,ration• it is duly organized and validly existing, in grx,tl stand-
ing under the law's of the state of its incorlN,r.+tion• has stock outst:+nding which has tN•en duly and v:!lidh• issued, and is
yualififd to do business and is in g«xl standing in the Sfate of Florida, wish full lN,wer and authority to consummate thr•
loan contemplated hereby: and, it a partnership, it is dub- G,rmefl and validb existing, and is fully qualified to do business
in the Mate of Florida: Wlih full tN,w'f•f and authority to consummate the loan contemplated herehv.
'l4. In the ece•nt any one or mom of the: provisions contained in this Mortgage or in the Note shall for :+ny reason
IN• held to lN• im:did, illegal or unenforceatde in nny n•st?c•ct, such invalidity. illegality or unenfon•eahlity shall, al the
option of the Mortgagee- not affect any other provisions of this !1ortgage• but this ;1ortgage shall be construed as it such
invalid, illegal or unenfon•eable provision had ne~rr tN•en containfd herein or therein. 'I'tre total interest I,ayable pursuant
s m the Note or this ltortg:+ge shall not in any our yf:+r f•x+•ec•d thf• highest lawful rate of intf•r+•st in fhe Statf• of Florida.
~'S. The covenants and agreements herein cont:unfd shall hind :+nd the I,f•nefits and advantages sh:dl inure to the
restNrGve heirs. exef•utors, administrators, successors- and assigns of the parties hereto. Wht never used, the singul:+r
~ nun+hf•r shall include the ,lurnl• the ,tonal the singular, and the use of any, gender shall iN• , disable to all genders.. All
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covenants, agreements and undertakings shall {,r joint and several. In the event additional numlx•red cm•enants or par.+-
graphs arc (or convenience inserted in this Mortgage, such additional cmenants shall f,e read and givt n effect as though
following this covenant in consecutive, order.
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