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Home My WebLink About2899 ~ 11~ r ~~t'v`~ upply su~•h mnta, issut~x and prafits received by il on the indebtedneae ~ecured here~iy i~~c; orcler~*Ma~ugee deter- eninrs. The right lo enter and take po.vsession of the MoNguged Property, to mnrwge an opertUe the sAme, nnd to collect lhe renla, iasuex und protita therc.rot, whethe~ by a m~~ei~~er or otherwiae, ahsll he cumulative to any othcr right or mm~dy hereunder or ntforded by law, and may be eicerciaed concurrently therewith or independently thereof. 1?loHgugre ahull be liahle to a~w~out?t only for such renta, isaues and protita actunliy re~~eived by Mortgagee. 14. If the indebtedneas secured hereby is now or hereafler fu~lhrr secured by ch:~ttel nwrtgugea, ~•urity inlerests, (inancing stntemeots, pledgea, contracta of fCuuranty, ussiRnmenta of Icasea, or other securities, ar i( the Mortguged Pro- ~~erty hereby encumbered consiata ol more than one ~n~el ot reul property, Mortgagee may at ita option exhuust any one or more of said securities +~nd security hereunder, or such parcels of the security hereunder, either concurrcnUy or inde- ~ pendenUy, and in such order as it may determine. f 15. Thia Mortgage shall secure not only existing indebtedneas, but also such tuture atd~~~nces, whether such advunces ~ are obligatory or to be made at the option oi 111ortgugre, or otherwiae, aa are made within twenty (20) years irom the date hereof. to the same e:tent aa i[ such (uture ~dvances were made on the date ot the execulion ot thia Morigage, t?ut such secured indebtedness shnll not excc~ed at nny time the m~ximum principal amuunt ot S n/d plus interest, and any disbursemrnta mnde tor the payment ot taxes, levies, or insurance, on the Morigaged Pro~mrly, with inlerest on such disbursementa. Any auch tuture Udvances, whelher obligatory or to he made at the option o[ the Mortgaqee, - or olherwise, muy be made eithe~ prior to or a(ter the due date ot the Note or any other notes aecured hy this Alorigage. This Mortgage ia given tor the specitic pur~~ose ot aecuring pny and all indebtedness by the Morigagor to Morlgagee Ibut in no event shnll the secured indebtedness exceed at ~ny time lhr mazimum principal nmount set (orth in this {xir~gruph) in ? whute~~er mnnner this indebledness may be evidenced or represented, untii this Mortgage is satistied ot record. AU coven- ants and t+greements contnined in this Mortga~ge shul) he npplirs~hle to nll further advan~~es ma~de hy MortRaRee to Morigagor under this future advance clause. ' 16. No delay by Mortgugee in exercising ~ny right or remedy hemunder, or otherwise a(torded by law, ahall o{~erate as a wai~•er thereof or preclude the exemise thereof during the continuance of any default hereunder. No waiver by Mortgagee of any de(ault shall constitute a waiver of or cansent to sut?sequent defaults. No (~ilure of A1ortg~gee to exercise any option herein gi~~en to accelerate maturity of the debt hemby se~•ured, no tort?ei~ran~•e by Mortgugee before or atter the exen•ise. of such option and no withdrawul or ubandonment of foreclosure pmceeding by MoHgagee shall I~e taken or con- strued as a wt~~ver of it8 rig6t to exemiae such option or to accelerate the maturity of the debt heceby secumd by re:~son o( any ~wst, pnrse~t or (uture defaull on the ~~art of Mortgagor: and, in like manner, the procurnment of insurance or the E?ay- ment of t~xes or other liens or charges by MortR:~gee sh:?Il not be laken or rnnsirued :~s a w~icer of its riRht to a~•celer~te the maturitv ot the del?t herebv secured. 27. Without at[ecting the liabilily of 111oHga~gor or s~ny other person (except .~tiy ~?erson expressly mleased in writinR? tor ~~yment of any indebledness secured hereby or for per(ormance of any ohligalion contained herein, and w•ithout af(ec•t- ing the rights of I1lortgaqee with res~~~t to any se.•urity not expressly mleased in writing, I11orl~aRee m:~y, at any time and ~ ; from iime to time, either before or atter the maturity o[ s:iid nole, a~d without noti~~e or consent: • (a) Release any {~erson liable (o,r,pay~nent at al! or any ~~art of the indebtedness or tor per(ormance ot :~ny obliKation. (b) Make any aRrecment estendinglthe time or otherwise allering the lerms of Ek~yment of all or any part of the indebteclnesa. or modifying or w;~i~~inR any obliRation,~or subordinating, moditying or otherw•ise dealinR wilh the lien or ch:~rge hemof_ (c) Exemise ur.refr.iin trom exemising or waive :~ny riAht MortQaRcr may ha~•c. (d) Accept s~dditional security ot any kind. - (e) Release or otherwise dea) with any pro~~eriy, mal or ~~erson:~l, securing the inclebtedness, includinR all or :~ny p:irt of the Mortgaged Property. ° iR. Any agmement hereatter made hy 1~lortgaKor and MoriRaRee pursu:int to this mnrtQaRe shall Ix~ su~~rior to the riRhts of the holder of any intervening lien or encumbrance. I 19. lbtortgagor hereby wai~•es all riRht of homestead exemption, if ~ny, in the AlortgaKcY1 Ym~rty. ~ 20. In the event ot condemnation procredings of the 111ortgaged Property, the award or comE~ens:ition ~k~yaMe there- I under is hereby assigned to and shall be ~k-~id to Mortg:~gee. :4lorlgagee shall be under no obligation to question the amount ; of any such award or compensation and may accept the same in the amount in which the same shal) he paid. In any such ~ ~~o[~demnation proceedings, hlartR~Ree m~y be repn~sented i?y counsel selerted by htortgagee. The proi•eeds of any aw'ard ~ or "c•oropcnsation so received sh:?Il, at the option of Mortgagee, eilher he applied to the prepayment of the Note and at the ~ r<ite o( interest pro~~ided themin, reKardless o( the ratt~ of internst ~~yable on the aw:ird by the condemning authority, or at the option of Mortg:~Ree, such ar~ard shall Ix~ p:iid over to t~lorlgagor (or restoration of the Mortgaged Pro~~erty. ~ ~ 21. I( Mortga~ee, ~ursuant to a construction loan aRreement or loan i•ommilment made by 1~lortgaRee with Alortg:igor, :~Rrees to tnake construction loan adv;mcc~ up lo the princi{?ai amount ot the Note, then Mortgagor hereby covenanls that it ~ w~ill comply with all of the terms, pro~•isions and i-ovenants of s:~id i•onslruction loan :~greement or loan commitment, wiU ~ diliQently construct the impro~•ements to be built pursuant to the terms thereof, all ot the terms thereo( w~hi~•h are in- ~•or~rorated herrin by re(erence as thouRh set torth (ully hemin and will ~~ermit no de(.iUI~3 to occur them~?ndc~r and if a dt>- fault shall «•~•ur thereunder, it sh:iU c•onstitute :i default under this blortRage and thP Note. ~ 22. At the option of 111ortgaRee, btortKaRor shall pro~~ide I~1oriRuKee with ~~ericxiic certitied auditecl st.itements o( the (inancial condition ot 1~1ortKaRor. ~ 23. AforiKaRor repre~ents :~nd ~+~arr:~nts that ~f ~•or~N~r.~tion, it is duly orRanized nnd v:ilidly existinK. ~n R~~d stand- 3 inR under the laws ot the state of its incur~wr:Hion, has sta•k outstandinR which has Ix~en duly and ~•alidly is.~uE•d_ .ind is qualified to do busine~ :md is in ~exx1 standinR in the State o( Flarida, with full ~?ower :~n~ authority to c•omumm:~te thc~ z lu:~n i~ontemplatrd herehy: and, if a~x~rt~ershi~~, it is duly (ormcd and ~•alidly existinR, and is fully qualifird fo do businecs ~ in the State o( Florida: with fui! ~~wrr and authnrity to ~•onsummate the loan ~ontem~~lated hereby. a = 24. In the e~•ent any onc~ or more ot the prucisions contained in this 141orfg:~Re or in the l~ote shaU for any rcason 1~~ held to tx~ in~alid, i1leRal or unenfon•e:~ble in any res~x~~t, such im:~lidity, ille~;ality or unen(or~eablity shall, at the ~ . option of the A1ortK:~Rc~, not aife~•t :~ny other pm~i;ions o( this ~liortKaQe, but this AtortRage shall be constnic~! as if sui•h ~ ~m•:did, i11eKa) or un~n(on•c~bl~ ~~m~ision had ne~•~~r heen ~~ont:~iniY1 herein or themin. The lot:il intrrest payable pursuant ~ to thf• 11~ote or this T1ortR:~Re shall not in :~ny one ~~~cli PXCIYYI ~FIP hiRhcKt lawful rst~ of interest in the State o( Florid:+.' ~ 25. 't'he covenants and agreements here~n .•ontainecl ::haU h~nd and the txnetits and ad~~antaKes ehall inure to the ~ n~w~xyti~~~• heirs, execvtors, administrators, sui-~~es.wra. and a~.siRns of the parties hereto. ~Vherever usecl, the sin~ular ~ numi~er st?all inc•lude the plur.il, the plural the sinkul:ir, and fhc usP of any Kcnder yhall Ix• ap~?licable to all Renders. All ~ ~•overwnt~, agreements und undertakings shall t~e joint and uwer.~L In the e~cnt additional namlxred co~~enants o~ ~~ra- ~ qraphs are tor com~enience in~rted in this 1~1ortKaRe. ~uch additional covenaMs shal) t~e read and Rn~en effe~t as thoaQh (ollowinq this c:?venant in ~oncecuti~•e order. ~ ~ -3- a~~k~. 31~. ~A~t z89? ~ z ~ s~`.