The URL can be used to link to this page

Home My WebLink About2932 • , i _ ' ~ i ' 1 { ~ ~ a{~ply such ~nt8, is+u~•ss und protib re~~ived by it un the indebtedneea securrd hereby irt au~i~Wer t~a Ve~tsa(tee dete~- ; minea. The ~ight tu enter and take ~wseesaion of the Mortgnged Pro~~erly, to manaKe nnd o~?erute the same, i~~d to collect the renta, issuea und protita thereof, whether t?y a receiver or othe~wiae, slwU be cumuintive to any other right or remcdy hereunder or a(torded by law, and may be exercieed conc•uRently lherewith or inde{iendently themot. Mortgngee ahall be liuble to acrounl only [or such rents, iasues und protita actu:dly rereived by Mortgagee. 14. It the indebtednees eecured hereby ia now or hereafter further secured by rhuttel mortguges, ac~vrity interesla. tinnncing statementa, pledgea, contracta ot ECuaranty. t?seignments ot leaeee. or other securities, or if the Mortgaged Pro- peHy hereby encumbered conaiats o! more lhi~n one {wmel ot real property, I1lortgagee muy pt ita option eYhnusl any one ~ a or more ot said eecurities and aecurity hereunder, o~ suc•h parcels of the security hereu~der, either concurrently or inde- . ; pendently, and in such order as it may determine. ~ ~ 15. Thia Mortguge shs~ll sc~ure not only existing indebtedness, but also such future advan~rs, whether such ndvancea ~ nre obligatory or to be mnde at the option of Mortgagee, or otherwise. as pre made within twenly (20) years (rom the date ~ hereo(, to the aame e:tent as if such (uture advances were made on ihe date ot the execution Not~thia MorlgnRe, but such ~ secund indebtedness slwll not exceed at uny time the maYimum principnl amount ot E ~ plua inter~c~st, and Any disl~ursements made tor the {~xyment of taxes, levies, or inaua~nce, on the Mortgaged.Properly, with interest on such dishursementa. Any such tuture udvanc•es, whether ohligatory o~ to be made at the option of the Mortg:~gee, or otherwise, may be made either prior to or atter the due date of the Note or any other notes secuced by this Mortgaqe. This Mortguge is given tor the apecific purpoae ot seruring voy and all indebleclness by the Mort~agor to Morigagee (but in no event shall the s~+cured indebtedness e:ceecl ut any time the cnt~:imum principal umount set torth in this ~x~r.~graph) in vrhatever m~nner lhis indebtedness may I~e eviclenced or repmsented, until this Mortg~ge is satiafied of record. All co~~en- anls a.nd agreementa contained in this MortRuge ahE~ll t~e applicaihle to aU furiher ndvein~rs m:~de by Alortgagec to : 1Nortgagor under ihis tuture advan~~e clause. 16. No delay by biortgagee in exercising any right or remedy hemunder, ur olherwise af(orded by luw, sh:~ll o~~erate as a wui~•er thereof or preclude the exen~ise themof during the continuance of any default hrreunder. No waiver by Mortgagee oi any default~shall constitute a wairer ot or ~•onsent to sul~sequent defaults. No failure ot Mortgagee to exercise any option herein given to accelerate maturity of the debt 6ereby sec•ured, no (orbeannce by Mortgagre before or atter lhe exercise o( such option and no withdrawal or abundonment of forc~•1~>sure proceedinR by Mortgagee shall be taken or con- strued as a waiver of ita tight to exercise such option or to acrelerate the maturity o( the debt hereby secured by re:~son o! any ~k3st, present or tuture detAUll on the part o[ MorlRE~Ror: and, in like manner, the proc•umment ot insurancr or the.~~:~y- ment of taxes or other liens or charges by A1or1R:~gee sh:~ll not 1~ t.~ken or c-onstrucYf .is a N•ai~•er of its riKht to :ureler.de lhe maturity o( the debt hereby sc~•ured. _ 17. Without af[ecting the liability ot 114ortgagor or any other ~xrson (exrnpt any ~~erson expmssly rele:~sed in writinA) for payment ot any indebtedness secured hemby or for performancr of any oi?ligation cont~~ined herein, and v~•ithout affect- ing the rights of Mortgagee with respec•t to any security not expressly mle.ised in writing, MortRaRee may, at any time and trom time to time, either before or a(ter tha m~tttrity o[ eaid note. :+nd without notice or consent: (a) Release any ~~erson liable for payment of all or vny {x~rt of ihe indebtedness or for performan~~e of :~ny obliRation. (b) Make any agreement eYtending the time or uthemise altering the terms of ~wyment of ~11 or any {~art o( the indebtedness, or modifying or w:ii~•inR any obligation, or su1?orclinnting, modifyinR or otherwise dealing with the lien or ch:~rge hereot. . (c) Exen•ise or retr.~in trom exercising or wai~•e nny riRht MortRagEr m:ry have. (d) Accept additional secvrity o( any kind. (e) Rele~se or otherwise deal with uny pro~?erly, real or personal, securing the intiehtedness, in~ludinR siU or any ~~:~rt o( the Mortgaged Pro~~erty. 18. Any agreement here:~fier made hy MortRaKor and MortRaRee pursuant to this monRa~e shall t,e su~x rior to the riRhls o( the holder oi any intenening lien or encun~branir. I ~ 19. MorlgaRor hereby wai~•es all riRht of homestead exemption, it any, in the 111ortKaKc~1 Pro~~crty. i ( 20. In the evenl of condemnation ptex•eedings of !he 141ortgaged Property, the award or com~~ens:ition p:ryable there- ~ under is hereby as~igned to :~nd shall t?e paid to MortQagee. MortgaRee shal) be under no obligation to question the amount of any such award or compensation and may acce~~t the s:ime in the amount in which lhe same shall be ~~aid. In any su~•h ~•ondemnation proceedings, Mortgagee may be repn~sented try counsel sele~•~ed by A1or~Ragee. The proceeds of any aw•anl s or ~rom~~ensation so received shall, al the option of b~tortqaRee, either be applied b the prepayment o( the Note and at the ~ rate of interest proeided therein, regardless o( the rate of interest payable on the av?~ard by the condemning authority, or at the option of 1liortga~ee, such award shall be ~u~id o~~er to 111ortgaRor (or restor~tion of the 11'forig:~Red Pro~~erty. ~ ~ 21. I( MortqaRee, pursuant to a ~•onstruction luan aRreement or loan commitment rrk~de by AlortgaRee with ~toHRaRor. ~ :~Qrees to make ~•onstruction lo:~n :~d~•ances up to the princip:il amount ot the Note, then hlortgagor hereby i•oven:~nts that it ~ K•ill comply with all ot the terms, pro~isions and covenanls o( s:~id ~•onstruction I~wn agreement or loan i•ommitment, wil) ~ diliRently construct the impro~•ements to he built pursuant to th~ terms thereo(, :~ll of the terms lhereof which are in- ~ ~•or{x?rated herein by reference :~s though !cet (orth (ully herein and ~•il) ~~ermit no de(aults to ocrur thereund~r and if a de- ¢ fault shall oc•cur thereunder, it shall ~•onstitute ~ default under this ~11ortRage and the Note. s ~ 22. At the option uf hlortgagec, ~1ort~:iqor sh:~ll provide :1lortgaqce with ~~eriodii• ~•erti(ied auditrd sta~tements ot the ~ (inancial condition ot Mort~.igor. ~ 23. ~1ortRaRor reprc~se~nts and ~~:irrants that if a~•orEKrr.~tion, it is duly orKanized .~nd v:+lidly existinR, ~n Kix~d stand- ~ inK under the laws of the state of its in~•ury?oratiun, h:is stock outst.indinR w•hi~•h has Ix~en duly .~nd ~:~lidly issued, and is qualified to do business and is in R~xxl st:~n~ling in the Slatc• of Florid:~, with tull ~wwer and authority to c•on~ummate the ' lo:~n ~•ontemplated hereby: and, i( n parlnership, it ia duly form~rf and ~•alidly existin~, and is (ully quali(ied to do business ; in the State ot Florid:i: with (ull ~w~wer :~nd :iuthorily to ~•~~nsummate the loan cnntemplatc~c~ hereby. ~ ~ 24. In the e~~i~nf :~ny one or more of the pm~isions ~•ont:~ined in this MortgaRe or in the Note shaU for any reason ` fx• h~~ld to t?c~ inv:~lid, illeR~) or unen(orcealile in any ms~x~~~f, su~~h inc~alidity. illeKality or unenforceablity shall, at the ; option of the 111ort~;a~ee, not a(fe~•t :~m~ other {~m~•ivions ot this ;fort~aRe, but this :~tortRaRe sh:~ll 1?e construcKl as iI sui~h a im:~lid, iUeK:~) or unPnf~r~•e:~hle prm~iRion had ne~~f•r {?een ~•ont:~ined herein or themin. The total ipterest payable pursuant ~ lo the Note or this MortRaRe shal) not in any one ~~c•ar ex~•eed the hiRhest lawful r.ite of interrst in the State of Florida. o ~ ' z 25. The co~enanls and :~greements herein containtYl ~h~~ll hind :ind the ~nrtits and :~d~antaRes shall inurn to the ~ mv{~•ti~~~ heirs, execvlor~, admini4trators, su~~~•ca~ors, :ind akSiRns of the parties hereto. Where~•er used, the sinRular ~ numt~er shal{ in~lude the plural. the plural the aint;ular. :~nd the uu• ot :iny Render whall I~e t+pplicaMe fo al) Kenders. Ali ~ ~•uvenants, agreemenls and undertakings shall I~e juiM a~nd s~ver.~L In the E•~~~nl additional numbenNl ~rnen~nts or ~?ara- Rr~phs an (or com•enience inserted in thi~ MortKaae, su~~h .~dditional ~~o~enants whall F?e re:~d and Ri~en e((e~t as though (ollowinR this co~•enant in consecuti~~e order. r -3- ~ R~ 311 ~ 2~~30 : ~ ~S ~i i y ~