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Home My WebLink About1599 . . , apply auch rents, issuea und profits received by il on the indebtednees secured harehy i~ such unier'as,~itR~~K~ deter- minea. The ~ight to enter und tuke ~xxvec~ion ot lhe Mortg~ged Pro~~erty, lo mnnaKe ~nd opernte the sa~me, ~ind to collect the rents, iasues und profits thereo[, whether by a receiver or otherwise, shall he cumulative to nny other right or remedy hereundec or n(torded by law, and mny be exemised concurrently therewith or independently ~thereo~t Mortgogee'a}u~ll be liuble to nccount only tor such rents, issuea and profits artuAlly received by I~S~E$a~~' , .~i . ,y. . 14. It the indebtedness ae~•ured hereby is noW or hern~tter further serure~t by:cl~ttel ntostgas~?, eecutitY. int~~ests, financing statementa, pledgea, cootracta ot guaranly. assig~menta of lexses, or other sei.-urities, or if the Mortgaged Pro- perty hereby encumbered consibts ot more thun one parcel of renl property. Mortgagee muy ~t ita option euhaust any one or more of said aecuritiea and eecurity hereunder, or such parcela of the aecurity hereunder, either concurmntly or inde- pendently. a~d in such order as it may determiae. 15. This Mortgage ahall secure not only existin~ indebted~eaa. but also such tuture advAncea, whether aucb advanceo are obligatory or to be rtwde at the option o( 1~lorigUgee. or otherwise, us are tnade within twenty (20) yeacs (rom ihe dAte hereot, to the same e:tent as if such luture advunces were made on the date ot the execution oi this Morlgeiee, but such secuted indebtednesa ahall not exceed at any time the maximum principal amount ot s • plus ioterest, and any disbursementa made tor the paymeni of taxes, leviea, or inaurnnce, on the Mori~Red Property, with interest on such disburaements. Any such (uture ndvances, whether obligatory or to be made at the option of the Mortgagee, or otherwiae. may be made either prior to or after the due date oi the Note or any other notes secured i,y ihia Mortgage. This Mortgage ia given tor the apeci[ic pur{wse o( securing s~ny and ~11 indebtedness by the A~ortgagor to Modgngee (but in no event shnll lhe secured indebtedness exceed at uny time Ihe ma:imum principal nmount set forth in fhis ~?ar~Braph) in w•hatever manner this indebtedness may be evidenced or -represented, untii ihis Mortgage is ss~tisfied ot record. All coven- ants and agreements contained in this 114ortguge shall be applicable to all turlher udvancrs mnde by Mortgagee to Mortgugor under thia tutute advance clause. 16. No deluy by Mortgaqee in exercising any right or remedy hereunder, or otherwise aftorded by law, shall operale us a wuiver thereof or preclude the e:emise lhereoi during lhe rnntinuance ot any de(sult hemunder. No waiver by Mortgagee of any detuult shall constitute a waiver ot or consent to subsequent detaults. No tailure of Mortgagee to exercise any option herein given to accelerate maturity of the debt hereby secured, no (orbearance by Mortgugee be(ore or u(ter the e:ercise of such option nnd no withdrawal or t~bandonment of foreclosure pra~eeding by Mortgagee shall t~e t:iken or con- strued aa a waiver of ita right to e:erciae such option or to accelerate the maturity of the debt herehy secured by reason of any ~wst, present or future detault on ihe part ot Mortgugor: and, in like mnnner, the procurement of insur:~nce or the ~u~y- ment of tpxes or other liens or charges by MortgnRee shall not be taken or construcYl as a w:~i~rr of its riRht to :~~•celerate the maturity ot the det>t hereby secured. IT. Without at(ecting the liability ot lbtortgagor or any other person (except any person ex~~rrssly released in writinR) tor payment ot any indebtedness secured heret~y or [or per(ormance ot any obligation contained hernin, and w•ithout :s(tect- ing the rights ot Mortgagee with respecl to any security not exgressly released in writing, 1~lortg:~Ree may, at any time and iram time to time, either before or atter the maturity ot said note, and without notire or consent: la) Release any ~~erson liable tor ~wyment ot all or any part of the indebtedness or tor pertormance of any obligation. (b) 141ake any aqrecment exlending the time or otherwise altering the terms ot ~~ayment of sll or :~ny ~wrt of the indebtedness, or modifying or wniving any obliRation, or subordinating, modi(ying or otherv?~ise dealing vrith the lien or charge hereot. (c) Exercise or retrain trom exercising or waivc .iny right hlortRaRc~ may have. (d) Ac~^ept additional security of any kind. (e) Release or othemise deal with any pro{~erly, rnal or personal, securing the indebtedness, includinR all or any p:irt o( the Mortgaged Property. . ~ ' 18. Any aRreement herea(ter made by MortgaRor ~nd MoHRa~ee pursuant to this mortQaRe shall bc• su~~erior to the ~ rights of the holder of any inten~eninR lien or encumbrance. z 19. Mortg:~gor hereby waives :~11 riRht ot homestead exemption, it any, in the Mortgagecf Propert~. ~ 20. In the event ot condemnation proceedings of the Mortgaged Property, the award or ~•om~~ensation ~~yable there- under is hereby assigned to and shall t~e paid to Mortgagee. Dlortgagee shall be under no obligation to qucstion ihe amount ~ of any such award or compensation and may acrept the same in the amount in which the same shall be ~mid. In any such E condemnation procecrdings, Aiortgagee may be represented t?y counsel selected by I1lortgagee. The pra~eeds of any award ~ or compensation so received shall, at the option ot Mortgagee, either be applied to the pm~>ayment of the Note and at the rate ot interest provided therein, regardless o( the rate of interest ~wyable on the award by the condemning authority, or at the option of Mortgagee, such awarcl shall be ~?aid over to Aiortg~gor for restor:~tion of the rtortgaged Property. 2L If ~tortgagee, pursuant to a construction loan aqreement or lo:~n commitment made by hlortgagee with Mortgagor, agrees to make construMion la+n .id~~ances up to the princi{~I amount of the Note, then 14iortqs~gor hereby covenants that it will comply with all o[ the temis, provisions and covenants o( said construction loan agreement or loan commitment, will diligently construct the improvements to be built pursuant to the terms thereof, all of the terms thereo( which are in- corEwrated herein by re(erenre as thou~h set (orth fully herein and will permit no defaiults to occur themunder and it a de- ~ (ault shall occur thereunder, it shall ronstitute a default under this Alortgaqe and the Note. 22. At the option of 1~lortgagee, ~fortgagor shall pm~~ide TlortgaRee with periodic certified audited statements of the tinancial condition of l~iortgagor. 23. Alortgagor represents and ~~arrants that if a cor~xir~tion, it is duly organized and validly existinq, in Rood stand- ing under the law~s of the state of its incor~~oration, h:~s stock outstanding which has been duly and validly issued, and i,s ~ qualified to do business and is in good standing in the State o( Florida, with tull power and authority to consummate the ~ Ic~:~n contemplated hemby: and, it a ~wrlnership, it is duly (ormed and validly existing, and is tully qualitied to do business ~ in the State o( Florida; with (ull ~~ovrer and authority to consummate the loan contemplated hereby. ~ 24. In the event any one or more of the pro~•isions c•onlained in this Mortgage or in the Note shall (or any reason ~ t?e held to be im:did, illegal or unenfoneahle in any res~~ect, such invalidity, illegality or unentorceahlity shall, a[ the ~ option n! the Mortg.~Ree, not attei•t a~ny other provisions ot this A4oriKaKe, but this Alortgage shall i~e construed as if such ~ im•alid, illegal or unenfor~•eahle provision had ne~~er t~een ~»ntained herein or lhemin. The total interest payable pursuant ~ to the N~te or this Mort~aRe sh:i11 not in any one ye:~r exceed the hiRhest law(ul rate of interest in the State ~f Florid:~. ~ 25. The rovenants and ugmements herein contained shull bind vnd lhe t~enetits and advantages shall inure to the ~ res~x~•ti~•e heirs, executors, administrators, succes.sors, and aasigns ot the parties hereto. VVhere~•er used, the singular numF?er shall include the plriral, the plural the sinKutar, and the use ot c~ny gender shall he applicable to all qenders. All ~ covenanta, agreementa and underi~kinga ahall i~e joint ar.d sever?1. !n the e~•ent additional numbered covenants or para- grapha are tor convenience inserted in this 1~lortgage, such additional cocenants shall be read and gi~•en e((ect as though ~ (ollowing this co~•enant in consecuti~•e nrder. ~ . `~k 31~ t a~;F 15~7 ~ . _ _ - - . Ar _ . - _ . _ ~ ~ ~