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Home My WebLink About1589 apply such -tents, issLere and pwfits tec•eivrd by it on the indebtedness secured hereby in such order us Mortgagee deter- ' mines. 1'he right to cuter sold lake I,ussrssiun of the 1lturtgugrcl 1'rolrrrly, to manage and oltrrrte the s:unr, and to collect the rents, issues and profits thereof, whether by a receiver or otherwise, shall he cumulative to any other right or remedy hereunder or afforded by law, and may he exen•ised iv,nrurrently therewith or indcl,rndrntly thereof. Mortgagee shall he liuhlo to uc•count only for such rents, issues and profits actually r~tirived by Mortgagee. • , 14. If the indebtedness secured henrby is now or hrrearflrr further secured by chattel mortgages, security interests, financing statements, plecigtre, e•orrtrrrls of guaranty, ussignn?rnls of leases, or other sw•uritirs, or if Iho l\turtguged Pro• {rerty hereby encum)Iered c•oruists uI more flute one Irrrcrl of m:tl property, Mortgagee may ut its ol,tion exhaust any one or morn ut s:Iid sw•uriti,a :md se.•urity hruundrr, ,~r such i,:rnels of Ihr sra•urity hernunder, rithrr cuncurn•ntly or ~~~e~ prndvntly, surd in such ordrr:IS it m:Iy drtrnninc•. t 15. This Ilfortguge slt:dl sra•urn nut only existing indehteducss, but also such future :Id~ancrs, whether such advances are obligatory or to l,e nwde ut the opliun ut Mortgagee, ur othrrwi•IC, us are mule within twenty (20) years from lhr date hereof, to the s:uur extent :Ia if such hrlure achancrs K'Cm nl:ulr on lhr date of thc• exrl•ution of this Mortgage, but such sec•unct indrbtc•clness sh:Ill nut rxccrrl at awry lime dre maximum principal anwunt o(= O plus iutrrrst, and .?m• disburK•urcnts oral,- fur the p,r~•nrrnl c•I lags. Ic•~ic•s. ur iu.nraurr, uu the Murl{;at;cd 1'n,l,c•rl~'. ,pith t , intrn•st un such di~cburw•na•nla. Auy such tutor.- advunr.•:r. ~~6rthrr uhlitiatory ur to Ix• mud.- at Ihr opliun of the MurlgaKar•, ur otherwise, may 1?I• usale rithrr prior !u ur after Ihr due dale uI !hr Nute ur any other notes u•.•ura•d by this Murttiagr. 't'his Mortgage iv given far the sl,cvitir purl,use of src•uring any and all indrbtwlncss by the 1\lorlgagor to tllurlg:rgee 11?u1 in no event shall Ihr secured indebtedness exceed ut any time the maximum princilwl anwunt set forth in This (,arrgrrph) in whatever manner this indehlechuss may hr evidenrcd or rrpresc•ntcd, until this Alortgagr is s:Ilisfird ut rec•urd. All coven- ants uncl agmrmenls c•onlainrd in this Mortgage- shall hr :q,plicablr to all further advuncc•s made by Mortgagee to Mortgagor under this (alum advance clause. 16. No delay by I1lurtgugee in exen•ising any right or remedy heceunder, or otherwise aftunkd by law, shall olxrate I us a waiver thereof or preclude ihr exercise thrn+of during the continuanrr of any drlault hen-under. No waiver by i Mortgagee of any default shall constitute a waiver of or consent to sulrsc•etuent defaults. No failure of Mortgagee to exercise any option herein given Io accelrnte maturity of the debt hereby scc•und, no torl,earrnce by Mortgagee t,efcyre or after the ~ exrn•ise of such opliun and nu withdrrwal or al?:uutunnu•nt of forre•lusuu pr«•erchng 1?y Mortgagee shall be taken or con- strued as a waiver ut its right to ezen•ise• such opliun or to are•rlrr.,te Ihr m:turity of the debt hrn•by ser•ured by reason ut - any I,usl, present or future drfauh un 1hr part of Mortgagor: and, in like manner, the I,rm•unnu•uf of insur:u?cr or Ihr 1?:ry- mrnt of taxes~or other lieru or charges by Morlgat;c•e shall not 1?r taken or censtrurcl as a waiver of its right to acrelrrate the n,uturity of the debt hereby ser•ured. , 17. Without uftec•fiog the liability of I1lortgagur or :my other I,ersori (except any Ix•rsun rxpnssly rnleused in writing) for Ir>cyment of any indebtedness sec•urrd hereby or fur I,erfornumc•e of any obligation contained hemin, and without :dtee•t- ing the rights of Mortgagee with respect to any sre•urity nut expressly rnleased in writing, Murtgagur• may, at :Iny time :Ind from lime to time, either I,eforr or alter the nwturity of said note, and without nutic•e or consent: la) Release any I,erson liable for payment u( all or any I,:Irt of the indelNrdm•ss or for I?rrformancr ut :u,y ubllg:dwn. Ib) Make any agnement extencling the time ur otherwise altrnng the terms ut payment of all ur any I,:?rt ul the indebtedness, ur nu?clifying-or waivint; any obligation, or sut?cmin,aling, me,clilying er uthrrwitir dealing v?ilh the lien or charge- hernef. (c) Exercise or utrrin fmm exen•ising or w:Iivr-any right Mortgagee may have- (d) Are•rpt additional sur•urity of any kind. (r) Release or otherwise deal with :n,y pn,l,rrly, rnal nr personal, securing the indchturlness, including all or any I,:Irt of the Mortgaged I'rotxrty. 18. Any agreement hereafter m;Idc 1?y Mortgagor and I\iortgager pursuant to this mortgage shall he sul,erier to the rights of the holder of any inten~ening lien or encumbrance. 19. Mortgagor hereby waives :,11 right of homestead exemption, if any, in the Mortgaged I'rupc•rty. :~0. In the event of e•undrurn:dion pr?K•?ti-dings of the 111urtgagrd Prul,rrty, the award ur romprns:etiun payable thrre- i under is hereby assigned to and shall ire- paid to Mortgagee. 1liortgugee shall be under no obligation to question the amount of any such ;{ward or compens:dion and may acc•epl the same in the amount in which the s:une shall I,e I,:Iid. In any such i condemnation I,roc•eedings, Mortgagee may t,r re•pnsentud Iry counsel su•Ire•ted by Mortgagee. The proceeds of :Iny award or compens:Itiun so received sl,clll, at the option ut Murtgagu•r, either l,e applied to Ihr prepayment of the Note :u?d at the ? rate of intrust pro~idcd thrrnin, mganllcss ul the rde of intrust t?:Iyablr en the a~rard 1?y the cundruuring authority, or at the option of Mortgagee. such aN:Inl shall I,e• p:Iid over lu Mortgagor for restoration of lhr ;~lortgaKud Pn,prrty. 21. It Mortgagor, pursuant to a c•unstructiun Juan agreement or loan commitment made by Atortgagre with Mortgagor, ~ agrees to make construction tale advances up to the princil?a) amount ut the Note, then Murtgagur hereby c•uvenants That it € will comply with all of the terns, prosisions and covenants of said construction loam agreement or loan commitment, will : diligently conslntct the impruvemeMs to I?e -built pursuant to the terms thereof, all of the terms thereof which are in- ~ rurlwrated herein by rnfrrrnre as though set forth fully heuin and will hermit no defaults to occur lheuundrr and it a de- fault shall occur thrrrundrr, it shall constitute a default under this Mortgage and the N,Nr. x z 'l2. At the option of Morlgageur, :1lurtga{tur shall provide Mortgagee with periexlic crrtifird audited st:demenls of the financial rendition ut 111ortgagur. e 23. Murtgagur repnsrnts and warrants that i a curtwr.Nion, it is duly organized and validly rxisling, in good stand- ing under the laws of the state of its inrerporrtion. has stork outstanding which has txen duly and ~:Ilidly issued, and is yualitied to du business and is in good standing in the Stale of Florida, with full (x,wer and authority to consummate thu• s lu:m cuntemplatcd heuby: and, if a I,:Irtnrrship, it is duly formed and validly existing, :md is lolly qualified to do business ) in Ihr Slate of I'Iorid:I; wtth full I,uwrr and authority to consunnnatr the loan centrmplalud hereby. 5 a s 24. In the event any one or snore of the provisions contained in this Mortgage or in the Note shall for any reason be held to be invalid, illegal. or unenfon•eablr in any rrsl,cr•t, such invalidity, illegality or unenfon•eablity shall, al the option of the Mortgagee, not affee•t any other provisions of This Plortgage, but this Mortgage shall he construed as if such imalid, illegal or unrnlun•eable provision had never lre•en contained hrmin ur therein. The total interest txryable pursuant g to the Note or this A1urt><aRe .h:dl ncN in any unr >rar rxccud the highest L•Iw(ul rate of intrr.•st in the State of Florida. 25. 'fhr cucrn:rnlrt erred a?Rreements hrmin containurl shall bind and the I,e•nrlits and advantagure shall inure to the rnspee•tivr heirs, earcutvrs, adurioislr:Nurs, successors, and assigns of the parties hereto. Wherever used, the singular number shall include the plural, the plural the singular. and thc• Ir.•Ir of any gender shall be :y,plicable to all genders. All cuvu•n:Ints, ugrremrMs and undertakings shall Ire joint and ,c•u•:a. In the event additional numbrrud covenants er I,ar.I- graphs arc for convrnirnce insrrte•II in this I\lertgage, such ad iition:?I ?-nvenants shall Ire read and given effect as though r following This cocrnant in consc•culicr order. y ~ B~R~ 310 FAG[ 1588 t!