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Home My WebLink About0271 t . ' • ~ , ' . t~~A apply such renta, iavura und protib received by il on the indebtedneas serund hereby in~sAc1~' order aa Mortgngi~r deter- minea. The right to ente~ and tuke poseesaion of the Mortguged Properly, to mnnuge ~nd o~~en~te the same, und to collect the rente, iasuea ond protita thereof, whether by a receiver or otherwiee, shall be cumulAtive to nny other right or remedy hereundet or attorded, by law, and tnay be e:ercised concurrenUy therewith or independently thereot. Mortqagee ahall be liable to account only tor such renta, ieaues and protits actually received by MortRugee. 14. It the indebtedneas eecuced hereby is now or hereatter futther secured by chnttel mortgages, sec•urity intereata, tinancing statementa, ~~ledgea. cont~cts of guaranty, asaignmenta of leaeea, or other securities, or it the Mortgaged Pro- perty hereby encumbered rnnaista o! more thun one ~x~rrel of rral property, Mortgagee may at its oplion exh~us! any one or more o[ said securitiea aod security hereunder, or auch parcela ot the security hereunder, either concurrently or inde- pendently. and in such order us it may determine. I5. Thie Mortgage shall aecure not only exiating indebtedneas, but aleo such future advances, whether such udvances are obligatory or to be made at the option of Mortgngee, or otherwise, ae are made within twenty (20) yeprs trom the dntr hereof. to the eame extent as it such future advnnces were m~de on the date o[ the execution ot this Mortg~ge, but auch secured indebtedness shall not exceed at any time the mnximum principat umount ot i N`A plua inierest, and pny disburaementa made for lhe payment ot taxes, levies, or insurance, on the Mortgaged Pro{~rty, with - intereat on such diabu~sements_ Any such tuture advancea, whether obligatory or to be made nt the option of the Mortgt~gee. or otherwise, may be made either prior to or atter the due date o[ the Note or any other noles aecund by this Morigage_ This Mortgage ia given tor the apecific purpose of securing any and aq indebtednesa by the 1Nortgagor to Mortgs~gee (but in no eve~t ahall the aecured indebtedneas exceed at any time the ma:imum principal amount set (orth in this ~>arugraph) in whatever manner this indebtedness may be evidenced or represented, until this Morlgage is antistied of record. All co~~en- anta xnd agreements contained in this Mortgage ahall be ~pplicable to till further advanrns m~de by Morlgagee to Mortgagor under this tuture advance clauae. 16. No delay by Mortgagee in exemising uny righl or remedy hereunder, or otherwise n(torded by law, shall operate as u waiver thereof or preclude the exemiae ihereof during the continuance o( any de(ault hereunder. No waiver by Mortgagee o( any default shall constitute a waiver oi or consent to au6sequent defaults. No tailure of Mortgagee to exemise any option herein given to accelerate maturity of the debt heteby secured, no forbearance by Mortgagee betore or atter the exerciae of•such option and no withdrawal or a6andonment of foreclosure proreeding by Morigugee sh:ill be taken or con- strued as a waiver of its right to exerciee such option or to accelerete lhe maturity of the debt hernby secured by reason of s~ny past, present or tuture detault on the part of Mortgagor; and, in like manner, the procurement ot insur.in~r or the ~k~y- ment of taxes or other liena or charges by Mortgngee sh.~ll not be taiken or consttued .~s a waiver of its riRht to acerler.~te the maturity of the debt hereby secured. 17. Without affecting lhe liabiliiy of Mortgagor or any other person (except any ~~erson expressly released in writing) ~ (or payment of Any indebtedness secund herehy or tor pettormance of any obligntion contained herein, and without atfec•t- ing the rights of Mortgagee with respect to any security not expressly released in writing, Morig:~gee may, :~t :~ny time and irom time to time, either before or after the maturity o( said note, and without notice or consent: ! ? ~ (a) Release any ~~etson liable for payment of all or any ~k~rt o( the indebtedness or tor performancr o( any obligation: (b) Make any agreement extending the time or olherwise altering the lerms of ~wyment of all or :~ny ~x~rt of the indebtednesa, or modifying or waiving any obligation, or subordinating, modifying or otherv?•ise dealing with the lien or charge hereof. (c) Exemise or refrain from exercising or waive any riRht MortRag~r may ha~•e. (d) Accept additional security ot any kind. (e) Release or otherwise deal with any pro~~erty, real or peraonal, aecuring the indebtedness, including al) or any ~~:~tt o( the Mortgaged Pmperty_ i 18. Any agreement hereatter made by MortgaRor and MortQaRc~e pursuant to fhis mortR:~~e sh:~ll }?e su~~erior to the riRhts ot the holder of any intervening lien or encumbrance. ~ 19. Mortqagor hereby waives all right of homestead exemption, if any, in the l~tortgaged Pro~~erty. ~ 20. ln the event ot condemnation ~~roceedings o( the Mortgaged Property, the award or com~~ensation ~h~yable there- under is hernby assigned to and shall be paid to Mortgagee. Mortqager shall be under no obligation to question the amount ~ of any such. award or compensation and may accept the snme in the amount in which the same shall be ~~aid. In any such condemnation proreedings, Mortgagee may be mpresented itiy counsel selected by Mortgagee. The pr«•eecls ot .iny award or cnmpensation so received shall, at the option o( Mortgagee, either be applied to the prepayment ot the Note and at the ~ rate of iriterest provided therein, regardless of the rate of interest payable on the award by fhe condemning authority, or at the option of Mortgagee, such award shall be paid over to 1~lortgagor (or restoration of the Alortgaged Pro~~erty_ 21. If Mortgagee, pursuant to a conatruction la~n agreement or loan commitmenl made by Mortgagee ~•ith Ttortgagor. :igrees to make construction lo:in ad~•ancrs up to the principal amount of the Note, then 1liortg~gor he~eby c-ovenants that it will comply with all of the terms, pro~~isions and rovenants o( said construction la~n agreement or I~:~n commitment, will diligently consfruct the improvementa to he built pursuant to the terms thernot, all of the terms thereof which are in- irot~x>rated herein by reterence as though set (orth fully hemin and will E?ermit no defaults to occur thereunder and if a de- faolt shall occur thereunder, it shall constitute a default under this MortR:~ge :~nd the Note. 22. At the option o(~Mortgager, MortQ:igor sh:ill provide Mortgagee with periodic crrti(ied audited slatements of the - financial condition of Mortgagor. 23. MorlgaRor repmsents .~nd warrants thaf if ~•or~x~r:ition, it is duly orRanized ::nd validly exisfing. in ~ood stand- ing under the laws of the state ot its incor~~oratiun, has stoc•k outstanding which has been duly and validly issued, and is yuali(ied to do business and is in Rood standing in the State of Florida, with fuU ~~ower and authority to consummate the ~ loan contemplated hereby: and, it a~k~rtnership, it is duly tormed and ~•alidly existinK, and is (ully qualified to do businc~ss ~ in lhe State of Florida; with full ~~ow~rr and authority b~•onsummate the la~n contemplated hereby. ~ 24. In the e~•ent :iny one or more of the prov~siuns rontainetl in [~is !1lortgage or in the Note shall for any reasun 1~ held to be invalid, illeqal or unentorceable in any res~~•t, such im•alidity, i1leKality or unen(orceablity shall, at the ~ option of the Mortg.iRee, not a(fect :~ny ofher pm~-isions af this AtortgaRe, hut this MortRage shall be construed as if su~•h invalid, illegal or unenfon•ealrle pro~•ision had never heen contained herein or themin. The total interest ~~yal~le pursuant ' to the Note or this MortKage shall not in any one year exceed the hiRhest l:~wful rate of intemst in the State uf Florida. , '25. The ~•oven:inls and agreements herein contain~Yl chall bind and the benefits and udvantages sh~ll inure lo the res{~•five heirs, executors. administrators, suc~rssors, :ind a~signs nf the p:~rties hereto. ~Vherever usecl, the sinRular namber shall include the plural, the plural the sinRular, :ind the use of any Kendcr shall he appli~~able to all Renders. All covenants, agreements and undertakinga shall f?e joint ~nd se~•er:il. In the e•~•ent additional numberec! covenants or ~ra- Y grapha are for convenience inserted in this 111ortRaRe, such additionai ~-ovpnants shall be read and gi~~en e(fect as though following thia covenant in ~onsecutive order. ~ , -3- ~,,k' 3~2 .aet z j ~l0 ~ ~