HomeMy WebLinkAbout1756 apply such n~?ita, ixsu~~ and pru(its rcti~eivrd by il un the indebtrdn~~aa ur~urrd hemhy in ~Vcj ,~jdor us ~41a~t~~i~ deter
minrs. '1'he ~iKhl to enter and take ~waeession ot lhe Murtgnged PropeHy, to munuge i~nd operate the ~ume, z~nd to collec•t
the renta, isaurs und prolits lherco(, whether by n re~~eiver or otherwi~e, shall I~e cumulnlive to any other right or mmedy
, hernuoder or nttorded by law~ and may be e:enised concurrently therewith or inde{~ncMnlly thereot. Mortgagee ahnU
t~e linLle !o a~rount only tor such rnnta, iasuea and protita uct~u~lly rcK~eived by Mortgagee.
14. It the indebtedneoe ~ecurecl here6y is ~ow or herra(ter further eeeured by clu~ttel mortguqex, ~•urity intereats.
(innncing stutemente, pledgra, co~tracta of guuranty, aasignments ot le~ses, or other aec•urities, or ~f the Mortgaged Pro-
1~~y hereby encumbered consiata ot more th~in one ~x~rrnl ot mul properiy, Mortgagee mi?y At its option exhauat any one
or more oi xaid aecuritiea nnd security hereuncler. or euch parc~la o( the se~urity hereunder, either concurrenUy or inde-
pendently, und in auch order us i! may determine. .
16. This MortgAge ahnN eecure not only e:iating indebtetiness~ but nleo such (uture advpnces, whether xui•h udvanc•ea
nre obligatory or to be mAde at the option of MortguReP, or otherwlse, ns are made within lwenty (20) yeiers from the dntc
hereo(, to the same e:lent as if auch future iidvuncee were mude on the dAte o[ !he execulion of thia Morlgr~Re, but such
secured indebtedneae atuill not ezi~eed nt nny time the ms~Yimum princi~~a) nmount of Z n~a ~
plus intereat, and nny diaburaementa made tor the ~x~yment ut te~rea, leviea, or insursince, on the Mortguged Pro}~erty, with
i~terest on such di~t~ursemenla. Any surh luture udv~n~re, whether obligatory or !o be made nt the option of the Mortgugee,
or otherwise, mUy be made either prior to or a~ter the due date o( the Note or any other notea secured by tl~ia Mortxa~Re.
Thia Mortgage ia given (or the apecific put~wae ot aec•uring eny und all indebtedness t?y the MorlRaRor to MortRaRee lbut
in no event shall the aecurc~cl indebtedness exceed at any time the m.~:imum princ•ipnl nmount ~ac~t forfh in this ~?:~raRr:~ph) in
Khatever mnnner this indebteclnes4 may he evideni•ed or repmsentc~cl, until Ihis MortRaRe is s:itisficYl of rM•urd. All ~•oven-
nnts ~md agrnements contained in this 1ltottg:~Re ~h:~ll t?e J1j1~1I11'iII/IP tu all further advan~•c•s mr~d~ f~y MortRaRc~e to
1Nortgngor under this luture ndvnnce rlnuse.
16. No delay by MoHgagee in ~•x~rcising ~ny right or remedy hrrnundcr, or otherwiae aftorded by Inw, shnll o~~erate
as n wniver thereof or preclude the exerc•ise themot durinR the i•ontinu:incr of uny defaiilt' hemunder. Na w<~iver by
MorfR~gee of t~ny def~ult ahall conslitute a wai~•er o( or iY?nsent to su{iscyuent detaults. No (ailure of MortRager to excrci~
any option herein gi~•en to ~ccelerate mnturity of the defit herc~My ~•urc~, no lorbenranir by Morlg:~Ree before or a(ler fh~
exen~ise of such option and no withdrawAl or ~1?:~ndonmrnt oi forri•losure prareclin~ by MorfRaRee shall t?e t:~ken or ~~nn-
strued as a waiver of ita riqht to exercise such optian or to ac~~el~r.ite the malurily of fhe deht h~reby s~•urecl I~v re~~n of
any ~h~st, present or tuture default on the ~~:~rt u( AtortR:~gor: a~nd, in likc~ manner, Ihe prc?~•urement ot intiurnn~•c~ or the ~r,iy-
ment of taxea or other liens or ~•h.~rg~~ by rlurfR:~Rtr sh:~ll nM 1~ tak~~n or i•onsfrued :~s «•:~i~~~r i~f ifs riRht to n~•~•~•ler.~te
Ihe maturily ot the debt hemhv ~•ure~1.
17. Without affectinq the linbility ot MortgaRus or any other ~?ers.?n (~xrnpt einy ~x~raon expr~ssly rrle:~uYi in wrilinRl
(or ~x~yment of any indebtedncss sec•ured hereby or for pertor~nance ~~f any obli~:~tion ~•onte~in~d herein, :~nd w•ithout :~f(e~+•t-
inR ihe riRhta ot MoriRaRee w~ith rc~x~~•t lo nny sc~•urity not exprnggly rrleasecl in w•ritinR, t11~rtRnQc~e~ m:~y, :~t :iny f~m~ ~nd
from time to fime, either t?efore or ntter the maturity o( snid notF, and without noti~•e ur con~enl:
la) Release :~n ~ ~ ~
y ~~ersun li:~ble fur~~~~ant of all or any {~nr! of thp indebtcKlnecg or for ~~rlormr~n~r o( s~ny ohliR~h~~n.
(h) Make any ~greement exlending fhe time or otherv~•ise F~IterinR the Ir.rn~s of ~?:~yment of all or any part o( Ihe
indebtednesa, or m~Klityins or waiving o~ny ol?liRation, ur s~t~nlinatinR, mocli(yinR or oth~rwise de:ilinR w~ith :h~ li~n or
char~e hereof.
(c) Exerriae or re(nin trom exereisinR or w•ni~•~ anv riRht I?lorta:~R~r m;~v hav~.
Id) Acc~ept additional security of :~ny kind.
(e) Release or ofherH•iae dc:d with :~ny ~~ro~x~rty, re:~l ~~r ~~ers~~n:~l, serurinR thF indebte~dnPSS, in~•Iud~nR :~11 nr :~nv ~~:irt
of the Mortgaged Pro~~eriy.
1R. Any a~reement herN:itter made by !11ortKaRor and A1orIQaRf~F~ ~~ursua~nt to fhEs mrrrlK:~K~' ~haU FM su~?Pn~~r M fh~
riRhts ot the holder uf any inlen-eninQ lien or e~n~•umbr.~nc•~.
19. MottRaRor hereby w:~ives :~U riRM ~~f homeslc~ad c~x~•mption, i( :iny, in thr 141ortR:~KF~1 I'ro~?rrt~~.
~ 20. In the evenl ot condemnation pr«•~~e~linKs of lhe hlorlR;iRecl Ynq~ertp, the :iw:~rd ~~r ~•om~?e~nsatir~n paynhl~ th~rp-
~ under is hereby asgigned to and shall Ix~ ~x~id fo M~~r1Rsi~ec•. MortR,~~er sha11 Fre under nn otrliRatinn fo qu~stinn the :imount
of any such award or com~~ensation and mny ~~•irpt Ihc~ x;~me in the :~mount in which thP a~me xh;~ll I~e paid. In :~ny auch
~ condemnation proc•eedingK, ~lortgs~Rc~ may I~e repre:~~nt.Kl 1!v ~•ounael s~~lw•lwl hy i~ir~rfRs~Ree~. Th~ prrH•w~dc ~d .inv :iw:irrl
or ~~m~x~naation w? re.-eived shall, af th~ option of MortR:iQCe, ~ithPr I~e :~~q~lial to fh~ pmpayment ot fhP Note an~1 et thP
rate of intereat pm~idecl th~rc~in, rnQardlrc4 of !h~ r.U~• ~?f iM~~n~al p:~vahli• on thc• :~w:~rd ht thP ~•~indemninR aufhnriRv. er :it
the oplion of A1ortR:~Ree~, su~h awarr! ah:ill !x~ p;~id n~•er f~? MorIQ:iRnr !or r~~stnr.~tinn nf thr ;41ort~,i~P~1 Yro{?erty.
21. It MortRaR~~a, pursuanf to:~ ~-onslrui•tion lu:~n :iKr~K•nu~nl ~~r I~iun ~•ommitmE•nt m.idF~ Irv MnrtR.~R~ w~th M~~rtRaQor.
:iKrees to make construc•tion Iexin :~d~•an~ra ~y? !o thF ~~rim•i~?al :u~zuunt o( Ih~ NotF, fhc•n ~lrrrt~:~Qnr h~rebv rov~n:~ntg that ir
will cY?mph• w~ith all ot fhc• terms, pro~isions and ~•oc~nanfs uf s;~irl ~•onclrurfinn I~~,in :i~rc•Fmcnf or Inan r~~mmitmnnt. a•~11
diliR~ntly ~•ong!nict the impro~•em~nts to hoilt ~~ursu:~nt !h~• tE•rmc thFrF•u(, all of ihe terms IhFrF~~f a•hic•h :~r~ ~n
~•or~x~r.~tec! h~•rein hy mfer~•n~r ~c thouKh w~t (orth fully h~rein anrl .+•i!1 ~~c•rmit na ~Ir(aiull~ 1~~ nrrur thPrF•unri~r :ind if dF•
(:~ult sh:~ll rx•~-ur th~rcundc~r, it sh:~ll ~•~nstilnt~ :e ~I~~f:~ull unrie~r thia MortKaiKF an~l fh~ N.~IF~.
22. At thc optiun of A1ortK:~K~'~•, ~iorfKaK~ir sh:~ll pro~~d~ MnrlKaiRe~ wi~h ~~ri~Klic• r~rtil~F•~t :~udifwl ~t:~tFm~nts nf th~
linancial conditiun n( ;11ortK.~Ror.
2~. M~rt~t:~Rnr r~prew~nlc an~! ~~arrnntc th:~t ~1 ~nr~~~~r.~tinn. it is duly orK:iniz~•~I nn~l r:~li~llv r~isfine. in K.N.iI ct:intl
inK undc•r Iht• I:~~~ti ~~1 thi~ st:iti~ uf ils ~n~ nry~nrati~~n. h.~s ct~~~~k ~~u1~t:u~ilinR v~•hi~ h hns Iw•on ~luh• :~nd c:Jirll~~ i~u~•~I, :~n~l i~
(~U7II~IfYI ~O (IO hu~c~n~~sv and iv in KixH) ct:~n~linK in th~ titalf~ ~r( F'Inridn, a'ith hill puwNr ;ind ,~uthorilv f~~ ~~~~n~~nnrnalr thr
luan ~vmti~mpl:it~~ti hr~mhy: and. ~f ~r.~rtnrrchip, if is ~1uly f~~rm~~l :m~1 ~.ilirllv ~riafinR, anrl ic (ulh• ryu:~lefi~~r! f~~ rln hucinr•~c
~ in Ih~~ 5tate of Fl~~rid:l. K'ly, ~UII ~N/N~er :~nd a~ulh~~rity f~~ ~•~~nwunmo-dv thP Inan ~~nnlPm~~Is~tMl hPrPi~v.
~
~ `L4. In ih~~ ~•~•~~nt :~ny unF~ ~~r mnr~ ~~f th~~ ~~ro~i~inns ~•unt,rine•~I ~n this !11nrfR:~QP rrr in fhP N~~te ch:~ll fnr any rc•:~~~~n
Ih~ h~•Id to t~ invalid, ~IIc~R:~l nr ~m~nfnr~•~:~hl~~ in :~nv rt~~~x~~•t. su~h ~n~~alidifv. ~II~R:~lit~~ ~~r unE~refnrrr,~hl~ty ch~ll. ;~t thr•
~ o~,ti~~n of th~• ;41~~rtK:~k~r. n~~l :~I(~~~t any ~ith~~ pmvi~i~~nc nl fhis Rt~rrt~:~e~~. hut thic 1Uurf~.~R~ ~hnll fr ~•~~nsfru~~l :~c if .u~h
~ im•ali~1. illi~k:il nr un~nfnn~i•ahl~• pnn~i~ion had nF•~e•r Ix~e~n r~~nl:~in.~d h~r~•in rrr thPrrin "fh~ f~~f:~l i~it~r~st pny:+Ll~ pursu:~nt
~ tn th~• Not~~ this 111orfk:~iK~ shnll nnt in c~nv nnr vF~:~r F•xr~•r~rl fh~• h~Kh~•vt I,~wful r.~tr n( infPrf-ct in fhe Staf~ nf Flinirtn 1.
~ ?5. '1'he co~•t•nants and aRreemF•ntv he•re~in ~•ont:~?ni•rl ~frill h~~ul an~l thr I~~nE•Ii1. :ind :uh~rint:~Qi•s ehall ~n~~re t~~ the~ i
n•ti~n~•fi~c~ he~irs, exec•utors, :idminictrafnr4. cu~~~•F-~~urs, an~l :~cciQns ~~f thP ~~artic~F hE•rF~t~~ Wh~revrr uc~~1, fhe cinRul:~r
numl~r shsill inrlud~ thP plural, the plural fh~• ~~nt~ul:~r. s~rul th~ uw~ o( ,~nv ~rndPr ch:~ll fa> :~ppli~:~hl~ t~, ;~I) R~n~l~rs. All
~•o~~~•nants. agrE~~menls and underlnkinRe shall I,~~ jr,int :~nrl ~e•~~~ral (n Ih~ ~~nnt aci~lil~~~n:~i numF~r~r~l .•m~vnantc nr par.~-
~;raphs are for ~~omenic•n~•e ~nwrrt~Ki in thia A1nrtR.~KF•. au~h :ulrliti~rn;~l ~~~~~n,int. ~hall F.~ rF:+.l :~nd Qn~n rff~•t ns thnuQh
(ollowing this co~~en:~nt in ronse~uti~•~ ~rdFr
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