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Apply such rents, issues and profits received by it on the indebtedness secured hereby in such order us Mortgagee deter-
mines. The right to enter and take {lossession of the Mortgaged Property, to manage and operate the same, and to collect
the rents, issues and profits thereof, whether by a receiver or otherwise, shall be cumulative to any other right or remedy
hereunder or afforded. by law, and may be exercised concurrently therewith or independently thereof. Mortgagee shall
be liable to account only for such rents, issues and profile actually received by Mortgagee.
14. If the indebtedness secured hereby is now or hereafter [uriher secured by chattel mortg:lges, security interests,
financing statements, pledges, contracts of guaranty, assignments of leases, or other securities, or if the Mortgaged Pro-
{lerty hereby encumbered consists of more Ih:ln one panel of real property, Mortgagee may at its option exhaust any one
or more o[ said securities and security hereunder, or such parcels of the security hereunder, either concurrently or inde-
pendently, and in such order as it may determine.
li?. This Mortgage shall secure not only existing indebtedness, but also such future advances, whether such lldvancea
era al;ligatory r;r to bu ma3r at the uptian a( ~larigagrc, ar athrrtisisc, as sec tzisdc ivitl:in ttverty yeses from the date
hereof, to the same extent as if such future advances were made on the date of the execution~~Athis Mortgage, but such
secured indebtedness shall not exceed at any time the maximum principal amount of i
plus interest, and any disbursements made for the payment of taxes, levies, or ir?surnnce, on the Mortgaged Property, with
interest on such disbursements. Any such future advances, whether obligatory or to tle made at the option of the Mortgagee,
or otherwise, may be made either prior to or after the due date of the Note or any other notes secured Ily this Mortgage.
This Mortgage is given-tor the specific purpose of securing any and all indebtedness by the 1liorigagor to Mortgagee (but
in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth in this {xlrngraph) in
whatever manner this indebtedness may be evidenced or represented, until this Mortgage is satisfied of record. All coven-
ants and agreements contained in this I1lorigage shall he applicable to all further advances made by Mortgagee to
Mortgagor under this future advance clause.
16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise af[orded by law, shall operate
as a waiver thereof or preclude the exercise thereof during the continuance of any default hereunder. No waiver by
Mortgagee of any default shall constitute a waiver of or consent to subsequent defaults. No failure of Mortgagee to exercise
any option herein given to accelerate maturity of the debt hereby secured, no torbearlnce by Mortgagee before or after the
exercise of such option and no withdrawal or abandonment of foreclosure praeeding by Mortgagee shat( be taken or con-
strued as a waiver of its right to exercise such option or to accelerate the maturity of the debt herehy secured by reason of
any past, present or future default on the part of Mortgagor: and, in like manner, the procurement of insurance or the pay-
ment of taxes or other liens or charges by Mortgagee shall not be taken or construed as a waiver of its right to ac•c•elerate
the maturity of the debt hereby secured.
17. Without affecting the liability of Mortgagor or any other person (except any person expressly released in writing)
for payment of any indebtedness secured hereby or for performance of any obligation contained herein, and without at(ect-
ing the rights of Mortgagee with respect to any sec•urily not expressly rele:sed in writing, Mortgagee may, at :lny time :lnd
from time to time, either llefore or alter the maturity of said note, and without notice or consent:
(a) Release any person liable for payruentpt all. or any {xlrt of the indebtedness or for performance of any obligation.
(b) Make any agreement extending the time or otherwise altering the lernls of {xlyment of all or any part of the
indebtedness, or modifying or waiving any oblig:tion, or subordinating, modifying or otherwise dealing with the lien or _
charge hereof.
(c) Exercise or retrain from exercising or waive any right tllortgagee m:ly have.
(d) Accept additional security of any kind.
(e) Release or otherwise deal with any pro{lerty, real or {lersonal, securing the indebtedness, including all or any hart
of the Aortgaged Property.
18. Any agreement hereafter made by Mortgagor and Mortgagee pursuant to this mortgage shall F?e su{lerior to the
rights of the holder o[ any inten•ening lien or encumbrance. .
i l9. Mortgagor herehy waives all right of homestead exemption, it any, in the Mortgaged Properly.
f 20. In the event of condemnation proceedings of the Mortgaged Property, the award or c•om{lens:ltion {sayable there-
under is hereby assigned to and shall f?e paid to Mortgagee- Atorigagee shall be under no obligation to question the amount
0 of any such award or compensation and may accept the same in the amount in which the same shall t?e paid- In any such
i condemnation pra•eedings, Atorigagee may be represented 1'y counsel selected by 1~lorigagee. The proceeds of any award
i or crompensation so received shall, at the option of Mortgagee, either be applied to the prepayment of the Note and at the
~ rate of interest provided therein, regardless of the rate of interest payable on the award by the condemning authority, or at
the option of Mortgagee, such award shall be {klld over to Mortgagor for restoration of the Mortgaged Property.
21. It illorigagee, pursuant to a construction lain agreement or loan commitment made by Mortgagee with Aortgagor,
agrees to make cons/ruction loan advances up to the principal amount of the Note• then Mortgagor hereby covenants ttl:lt it
will comply with all of the terms, provisions :lnd covenants of said construction loan agreement or loan commitment, will
diligently construct the improvements to be built {lursuant to the terms thereof, all of the terms thereof which are in-
ror(wrated herein by reference as though set forth fully herein and will permit no defaults to occur thereunder and i[ a de-
fault shall occur thereunder, it shall constitute a def:lult under this Mortgage and the Note.
22. At the option of Mortgagee, Mortgagor shall provide Mortgagee with periodic certified audited statements of the
financial condition of Mortgagor.
i 23. Mortgagor represents and warrants that if a cor{?ontion, it is duly organized and validly existing, in good stand-
ing under the laws of the state of its incor{~or,ltion, has stock outstanding which has been duly and validly issued, and is
qualified to do business and is in good standing in the St:lte of Florida, with full power and authority to consummate the
z loan contemplated hereby; and, i(a {>.-lrinership, it is duly formed and validly existing, and is fully qualified to do business
in the State of Florida: with full {rower and authority to consummate the loan contemplated hereby.
Iii ihr c'v cif any PiTiE Or lllOie Gf thf 1)iAi'i510i1S Caiio:T,ed in thlo AiortgapC Or in the Nale stz:rll fur any !e3°4r!
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fie held to t?e im:llid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceablity shall, at the
option of the Mortgagee, not affect any other provisions of this tllorigage, but this Mortgage shall be construed as if such ~
im•alid, illegal or unenforceable provision had never been contained herein or therein. The total interest payable pursuant
to the Note or this Mortgage shall not in any one year exceed the highest lawful rate of interest in the State of Florida_
~ 25. The covenants and agreements herein contained shall hind and the benefits and advantages shall inure to the
respective heirs, executors, administrators, surc•essors, and :assigns of the {>ilrties hereto. Wherever used, the singular
number shall include the plural, the {?lural the singular, and the use of any gender shall be applicable to all genders. All
covenants, agreements and undertakings shall 1?e joint and several. In the event additional numbered covenants or pars- }
graphs are for convenience inserted in this Mortgage, such additional covenants shall be read and given effect as though
following this covenant in consecutive order.
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