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apply such mnta, isaucs und protita received by il on the indebtedness serured heeeby;i~ tuch orcie~.tfs A~orlgugee deter• ~
minea. The right to enter a~d tuke ~wasession ot the MorlBuged Property, to m;~nage and operute the snme, and to collec•t j
the rents, iasues and protita thercv~f, whether by a receiver or othenvise, shall 1?e cumulutive to any uther right ur rem~dy
hereunder or et[otded by law, and may be exemised concurrently therewith or independently ihereof. Mortgagee shnll i
be liable to account only tor auch rents, iasues aod peotita actunlly ~~eived by Mortgagee. i
14. It the indebtednesa secured hereby ia now or hereptter turther secured by cFu~ttel moHguges, security intereats, °
(inancing sttitemeota, pledeea, contracta of guarunty, ussignmenta ot leases, or other securit~es, or it the INottgaged Pro- ;
~~erty hereby encumbered consists of more thun one ~wrcel ot reul properiy, 111ortgagee may al ita option exhauat ~ny one . i
or more o( said aecurities und aecurity hereunder, or such parcela ot the security hereunder, either concurrendy or inde- ~
~~endently, and in auch order ae it mny determine.
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15. 1'his I14ortgage ahs?11 secure not only existing indebtednees, but also such'future advances, whether auch advances ;
are obligatory or to be made at lhe option of 1Nortgagee, or otherwiae, as are made within twenty (20) yeare trom the dale
hereof, to the same extent sta if such (uture advancea wete rn~de on the date ot ihe execution of this Mortgage, but such ;
x~ured indebtednesa sh:~ll not exceed at any time the ma:imum principal amount of E 1? S nnn nn
~~lus interest, and any disbursements mude tor the payment o( t~:es, leviea, or insurance, on the Mortg+~Bed Property, with 1
interest on such disburaements. Any such (uturn advunces, whether obligatory or to be made nt the option ot ihe Morlgvgee, ~
or otherwise, may he made either prior to or a(ter the due date o( the Note or any othe~ notes secured by this Morlgage. ~
This Murtguge ia given tor the specific pur~wse o( securing ~ny ar.d all indebtednes4 by the MortgaKor to Morig:~gee (bul ,
in no event sh:dl the secured indebtedneas exceed at iiny time lhe ma:imum principal aimount set (orth in thia paragr.q~h) in ~
v?hatever manner this indebtedness m:iy be evidenced or represented, until this Morlguge is satiafied ot record. All coven-
anta vnd ugreemenis contained ih thia MortgaRe ahall F?e nppli~~able to zdl turther ~dvanc~es m:~de hy Mortgz~Ree to
Atortgagor under this tuture ad~•ance cinuse.
16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise at(orded by luw, shall operate
us a wai~rr thereo( or preclude the exercise thereof during the i~ontinuance ot uny detuult hereunder. No waiver hy
Alortgagee oi any de(:~ull sluill constitute a waiver of or consent to sul~sec~uent detaults. No tailure ot Mortgagee to exercise
any option herein given to accelernte maturity ot the debt hereby aec•u~ed, no torF~earance by Mortgugee before or afler the
exercise o( such o~~tion :~nd no wilhdmwul o~ at~andonment of toreclosure proceeding by MortBagee stwll be taken or ~ron-
strued t+a a waiver ot ita right to exerciae euch opti0n or to acrelerate lhe maturity of the debt hereby ~secured by m.ison ot
:~ny ~~st, prc~ent or (uture defnult on the ~~art of :~lortRFigor, and, in like manner, the procurement ot insur.mce.or the ~u~y- 1
ment of taxes or other liens or charges by rlortg:igee ~hall not I~e t.Jcen ur ~^onstruecf ~s ~ wa~i~•er of its right to a~•irler.ite
the m~turity o( the debt hereby r,ecured.
17. Without affecting the liability of Mortg~gor or uny other pe~n lescept any person eYpmssly released in writing)
tor ~wyment o( any indebtedness secured hereby or for per(ormance of ~ny ubligation contained hemin, and without at(e~•t- ;
ing the rights o( Illortgagee with respect lo uny security not expressly mle:ised in writing, hlortgaRee may, at :+ny time and `
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from time to time, either tiefore or a(ter the maturity of said note, and without notice or consent: i
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(a) Release any ~~erson liable for ~kryment of all ~or any part o[ lhe indebtedness or tor pertormance ot any obligation. f
(b) M~ke any ugreement extending the time or otherwise altering .ihe terms ot {k-~yment of all or any {~rt of the ~
indehtednrss, or modi(yinR or w;~iving :~ny obliRation, or sulwrdinating, modifying or othen.•ise dealing with the lien or
cl?arRe hereof.
(c) Exereise or refr<iin trom exen•isinR or wai~•e :~ny riRht MortR:~Ree may have_
~d) Arcept additional secvrity ot any kind. i
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' (e) Release or otherv?ise deal with .~ny ~?ro~~erty, real or ~~ersonnl, securing the indebtedness, ini•ludinR :dl or a~nV ~>:~rt i
i o( the r4origaged Property.
18. Any agreement here:i(ter made i?y A1ortRaRor and ~1ortQaRee pursuant to this morlRaRe ah:~ll be su~~erior to the
~ riRhls of the holder of any intervening lien or encumbr~nm.
~ 19. Mortgagor hereby wai~~es aU riRht u( homestead exemption, if any, in the 111ortgageci Pro~~erty.
~ 20. ln the event ot condemnation pro~•eedings of lhe Mortgaged Pmperty, the award or i•om~~ensation payable there-
under is hereby assiqned to and shall t?e ~~id to Mortgagee. Mortgagee shall be under no obligntion to question the amount
~ of any such award or com~ensation and may accept the same in the :imount in which the same shall be paid. In any such
o condemnation pr«-eedings, Mortg:~gee may t?e represented 1?y counsel selected by Mortgagee. The ptoceecls of any :iW.lf(I t
~ or compensation so received shall, at the option ot btortgaqee, eilher be applied to the pre~~ayment o( the Note and at the
E rate ot intenwt pw~•ided lherein, reKardlc~s of the rate o( interest ~kiyable on the aw~ard by the condemning authority, or at
~ the option oi MortgaRee, such aw:ird shall 1~ paid over ro 1ltortgagor for mstor~tion of the 111ortgaged Property_
~ 2L It Alortg.iRee, pursuant lo a c~,nstructiun loan agreement or loan commitment made by btortgagee with 111ortgaRor,
~ :iRrees to m:~ke conatru~•tion loan ad~•an~~c~s up to the princi~:il amount of the Note, then Mortgagor hereby cuvenants that it
~ w~iU comply with all of the terms, provisions and ~•ovenants o( s~~id construi•tion lain aRreement or loan commitment, v~~ill
~ diliRently construct the improvements to F?e truilt pursuant to the terms thereof, all o( the terms thereof which are in-
~ ~~or~x~ratecl herein by re(erence as though set (orth (ully herein and will ~~ermit no defaults to occ•ur thereunder and if a de-
~ L•wlt shall o~rur thereunder, it sh.+ll constitute a defsiult under this MortQaRe and the Note_
~ 22. At the option of Mortg:~Re~, Mort~aRor shnll pro~•ide MortgaRee with peri~ic ~•ertified ~udited Ktatements o( thP
~ (inancial condition of MortRagor.
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~ 23. M~,rtgaRor repre.gents and Narrants that i( a~•or~ror.ition, it is duly orRanized and validly existing, in Rood stand-
ing under the laws of the statr o[ its incor~x>r.~tion, has stock outst~nding which has been duly und ~alidly is5ued, and is
~ qualified to do businE~s and is in Rood st:~nding in the State of Florida, with tuU ~wwer and authority to consummate the
loan contemplated hemby: and, if ~~artnerahip, it is duly tormed and validly existinA, and is tully quali(ied to do business
~ in the State uf Florida; with tull ~x~~+'er and authority to cnnsummate the loan ~•ontemplated her~by_
~ 24. !n the e~•rnt any one or more o( the pro~isions i~ontained in this Diortgage ur in the Note shall for any reason
~ tx~ held to i~e im:~lid, i11eAa1 or unenforceable in any res~~ect, su~•h im~alidity, illeRality or unenforceablity shall, at the
~ option of the Alortgagee, not :il(~•t any other pmvisions of this !1lortgage, but this MortgiiqQ SFI:III ~ construed as it such
- im~alid, illeg.~l or unenfor~•eable pro~~ision h~d ne~•er becn i•ontainc~d herein or therein. The total interest payable pursuant
- to the Note or this AtortR:~Re s6a11 not in any one y~:ir exceed the hiRhest lawtul rate ot interrst in the State of Florida.
€ 25. The co~~enants and agreementa herein contuined shal) bind .~nd !6e benetitx and advantagea shal) inure to lhe
~ res~~•tive heirs, executors, administrators, succrssors, and :~ssigns o( the ~wrties hereto. ~~'herever used, the sinqular
~ number shall include the plural, the plural the singular. :~nd the use of :~ny gender shall be applicable to all genders. All
c-ovenante, ngreements and undertakinga ahall t~e joint and se~•eral. in the e~•ent additional numbered covenanta or para-
gr:~phs are tor com•enience inaerted in ihis hlortgage, such additional co~~enants ghall F?e read and Riven eftect aa though
follow•ing this covenant in consecutive order. ~
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> 26. I~brtgagor shall f irst obtain the written ca~sent of mr~rtg,agee prior to the oonvey-
ar~ce of all or anypo
rtion of the unrtg,age sec~ity to a third party. It is specifically
u~derstood that failure to vbta s h written nsent of m~ ee, ch
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; be g~anted or withheld at the sole ~scretion o~unrtg,agee, s~ oonst tute~~~u~~
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