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apply such trots, issues and profits reirived 1?y it on the indebtednc•as secured hereby in such orclrr :a Mvrtg,:+gcw deter,
mints. The right to Prater and Luke {rostRC•ssion of the Mortgaged Pro{re•rty, to manage and operate the sump, and to colle+•t
the rents, issues and profits therc.•of, whether by n rec•civer or otherwise, shall 1?e cumulative to any other right or remedy
hereunder or afforded by taw, and may f?e exen•ised concurrently therewith or independently thereof. Mortgagee shall
1?e liable to account only for such rents, issues and profits actually received by Mortgagee.
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14. If the indebtedness secured heeyby is now or hereafter further secured by chattel mortgages, security interests,
financing statements, pledges, contracts of guunu+ty. assignments of IPUSes, or other securities, oc if the Mortgaged Pro-
perty hereby enc•umbend consists of more than one parer! of ma) property, Mortgagee may al its option exhaust any one
or more of said securities and see•urity hereunder, or such {rarcels of the security hereunder, either. concurrently or inde•
pendently, and in such order :ts it may determine.
15. This Mortgage shall secure not only existing indebtedness, but also such future advances, whether such advances
:+re obligatory or to t?e mode ut the o{?tion of Mortgagee, or otherwise. as are made within twenty (20j years from the date
hereof, to the same extent as if such future udrances were made on the date of the execution of this Mortgage, but such
secured indebtedness shall not exceed at any time the maximum principal amount of 3
{>!ua interest, and :toy disbursements m:+de for the {?ayment of taxes, levies, or insun+ncr, on the Mortgaged Property, with
interest on such disbursements. Any such future advances, whether obligatory or to he mode at the option of the Mortgagee,
or otherwise, may t?e made either {rrior to or :+fler the due date of the Note or any other notes secured Fry this Mortgage-
This Mortgage is given for the spe<•ific par{rose of securing any and all indebtedness by the Mortgagor to Mortgagee Ibut
in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth in this {k+n+graph) in
whatever manner this indebtedness may 1?P evidenced or reprPSented, until this Mortgage is satisfied of rec•urd. All coven-
ants and agreements contained in this Mortgage sh:?It be applicable to aft further advunccs m:+de by Mortgagee to
:Mortgagor under this future ado:+n<r clause.
16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise afforded by law, shall o{ren+te
as a waiver thereof or preclude the exerc•isP thereof during the continuance of any default hernunder. No waiver by
Mortgagee of any default shall constitute a waiver of or consent to sul?sequent defaults. No failure of Mortgagee to exercise
any option herein given to accelerate maturity of the debt hereby secured, no forbearance by Mortgagee before or after the:
exercise of such option and no withdrawal or at?andonment of fome•losure proceeding by Mortgagee shall be taken or con-
strued as a waiver of its right to exercise such option or to ncreler.+le the maturity of the debt hereby sec•urcd by reason of
any past, present or future default on the {x+rt of Mortgagor: and, in like manner, the procurement of insur.+ncr or lhP pay-
ment of taxes or other liens or charges by Mortgagee shall not t?c• taken or construed as waiver of its right to ae•e•PIPr.+lP
the maturity of the debt hereby secured- -
IT. Without af[ecting the liability of Mortgagor or any other {rersun lexcept any {?erson expressly released in writing)
for {wyment of any indebtedness second hereby or for {+ertormanc•e of any obligation contained herein, and without affect-
ing the rights of Mortgagee with res{?PC•t to any scc•urity not expressly rele:sed in writing, Mortgagee may, at any time and
from time to time, either 1?efore or after the maturity of s:+id note, :+nd without notice or e•onsent:
la) Release any {rerscrn liable for payment of all or any part of the indebtedness or for {?Prformance of any obligation-
Ib) i~fake any agreement extending th~~ti~re.or otherwise altering the term~'o~ l~+yme{+}tp~ ;1~~ ;~Qy~ {~r(.oi the
indebtedness, o: modifying or waiving any obligation, or sulx?rrlinating, modifying ~f' bt erw+ ea rn .v+th the lien or
chargh hereof. = + - _ e c ;
(r) L'xerrise or refr.+in from exercising or waive any right Mortgage•e• may hare.
(d) Accept additional sec•urih• of any kind.
(e) Release or otherw•isP deal Kith any pro{arty, mat or {rersunal, sPC•uring the indehtednes.4, including all or any {r.+rt
v! the Mortgaged Property.
IR. Any agreement hereafter made by Mortgagor and MOrtg:+Ke'e' pursuant to this mortgage shall t?P sufx•rivr to the
rights of the holder of any inten•Pning lien yr encumbrance.
19. Mortgagor hereby waives :dl right of homestead exemption, if any, in the Mortgaged Yro{?erty.
20. In the event of condemnation pro+•c•cdings of the Mortgaged Pro{rerty, the award or compens:tion pay:+ble there-
under is hereby assigned to and shall t?e paid to Mortgagee. 1\fortgagee shall be under no obligation to question the amount
of any such award or com{?ensation and may accept the same in the amount in which the same shall he paid. In any such
condemnation prvc•ee•dings, Mortgagee may t?e represented by counsel selPC•ted by Mortgagee. The proceeds of any award
or compensation so received shall, at the option of I1lortgagee, either be applied to the prepayment of the Note and at the
r.+te of interest provided therein, regardless o{ the rate of interest payable on the award by the condemning authority, or at
the option of Mortgagee, such award shall tx• paid over to Mortgagor for mstor.?tion of the 1\lortgaged Prv{,etty.
21- If ':1lortgagc•e. pursuant to a construction loan agreement or loan commitment made by Mortgagee with Mortgagor,
agrees to make construction Ic?:+n :+dr:rnc•es up to the princifr:+l amount of the Nate, then Mortgagor hereby covenants that it
will comply with all of the terns, provisions and covenants of s:+id construction loan agreement of (a+n commitment, will
diligently construct the improvements to t?e• built pursuant to the terms thereof, a!I of the terms thereof which arc in-
+•ur{x?rated herein by reference as though set forth fully heroin and will {?ermit no defaults to occur thereunder and i(a de-
fault shall occur thereunder, it shall constitute a default under this Mvrtg:rge and the Note.
22. At the option of Mortgage•e•, Mortgagor shall provide Mortgagee with periodic, certified audited statements of the
financial condition of Mortgagvr-
23. Mortgagor repn•sc•nts and warrants that if a cortwrdiun, it is duly organized and validly existing, in good stand-
ing under the laws of the state of its incor{?c?r:+tivn, has stock outstanding which has 1?ec•n duly and validly issued, and is
qualified to du trusinoss and is in gaud standing in the: State of Florida, with fuH {xrwer and authority to consummate the
loan contemplated hereby: and, if a partnership, it is duly formed and validly existinK, and is fully qualified to do business
in the State of Florida; w•+th lull {x,wer and authority to consummate the Ivan contemplated hereby.
'l4. In the event any one or more vt the provisions contained in this 1VlortgagP or in the Note shall for any reason
1?c• held to lee im:did, illegal ur unenfun•eahlP in any res{xct, such invalidity, illegalih• yr unen(on•Pablity shall, at the
option of the 1lortgagc•e, nut aUc•e•t any other provisions of this ~(vrtgage, but this Atvrtgage shall 1?e construed as if such
im:+lid, iIIPKaI or un?•nfvn.P:+ble pn?cision had never t~e•en contained herein or therein. The total interest {><+yable pursuant
to the Note or this Mortgage shall not in any one year exceed the higher/ lawful rate of interest in the State of Florida.
'LS. 'I'hP +•uven:?nts and agrc•Pments heroin contained shall bind and the 1?enefits and advantages shall inure to the
resfrec•tive heirs, executors, administrators, successors, and assigns of the parties hereto. Wherever used, the singular
numl?er shall include the plural, the plur.+l the singular, and the use of any gender shall tx• applicable to all genders. All
covenants, agreements and undertakings shall I?e joint and x•rPr.+L (n the event :+dditivnal num!?c•rrd covenants or {~arr-
graphs are (or convenience inserted in this Mortgage, such additional covenants shall t?P read and given effect as though
fol(vwing this covenant in cvnsecutivP order.
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