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Home My WebLink About2437 apply such rants, is..ucs and profits recrivi.•d by it on the indehte<lness se.>+•und hereby in such onfer as Mortgagee detdr- n?inf•s. 't'he right to enter and take t?uxtif•ssion ul the ?\lortgagfd Yrola•rty, to manage and ol?arde the srlme, and to collcc•t the rants, issues and profits thereof, whether by a n•friver or otherwise, shall i?c cumulative to any other right or rnmfdy hereunder or ultordecl by law, and may 1?e exen•ISed concurrently therewith or indef?enddntly therec?f. Mortgagee shall f?e liable to account only for such rents, issues: and profits actually rdf•rived by Mortgagee. 14. It the indebtedness sef•ured hereby is now or hereafter further secured try chattel mortgages, sefurity interests, financing statements, pledges, contracts of guarlnty, assignments of le:ISes, or other securities, or if the Mortgaged Pro- I?erty hereby em•uml?crcd consists of more than one lurn•dl of real properly, Mortgagee may at its option exhaust any onf or more of said strurilies and security hereunder, or such 1?:In•els of the security hereunder, either ronc•urrently or rode- Ixndently, and in such order as it may determine. are obligatory or to be made at the option of Mortgagee, of othen+•ise, as are made within twenty 120) Yea ate hereof, to the same extent as it such future adruncrs were made on the date of the execution of gage, 1?ut such secured indebtedness shall not exceed ut any time the maximum principal amount • plus interest, and any disbursements made for the {I:Iyment of taxes, levi ranee, on the Mortgaged Property, with interest on such disbursements. Any such future advances, wh~ gatory or to 1?e made at the option of the I1lortgagee, or otherwise, may he made either prior (o or afte~r~Ih ut'`date of the Note or any other notes secured by this Mortgage. This Mortgage is given for the s11ee•Itie e~oT sefuuring any and all indeMednesc by the Mortgagor to Mortgagee Ihut in no event shall the snared i ess exceed at any time the maximum princilu+l amount set forth in this 1mr.Igrq?h) in Nhataver manner redness may 1?e evidem•ed or represented, until this Mortgage is s:Itistied of ree•ord. All coven- ants ce cots contained in this 1lforlgage shall he applicable to all further advances made by Mortgagee to - - - - - - - -5..-- 16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise afforded by law, shall oflerate as a waiver thereof or preclude the exercise thercf?f during the continuance of any default hereunder. No waiver by Mortgagee of any default shall constitute a waiver of or fonsenl to subse>yuent defaults. No failure of Mortgagee to exercise any option herein given to acerler:Ite maturity of the debt hereby se•e•ured, no torhdannfr by Ibtortgagee before or after the exercise of such option and no withdrlwa) or al?:Indonment of torec•losure prcxf.•eding by Mortgaged shall 1?e taken or con- strued as a waiver of its right to exercise such option ur to ace•elerlte the maturity of the debt hernby sec•urect h~ICOn of any 1?:ISt, present or future default on the f?:Irt of Mortgagor. and, in like manner, the proc•urenlent o! insuranfr~}1't??e 1?:+y- ment of taxes or other lidos or charges 1?y Mortgagee shall not Ix• taken nr ronsinletl as a waiver of its right to accelerde the maturity of the debt hereby se>c•und. ` 17. ~Yilhout affecting the liability of lliortgagor or any other flerson lexc•ept any Ix•rson expressly released in writing) for f?:Iyment of any indebtedness secured hereby or for 1x•rfarmanfr of any obligation contained herein, and without attert- ; ing the rights of 111ortgugee with resfxf•t to any sefurity not expmssly releases in writing, hlortgagfr m:+y, at :Iny time and tram Ume to time, either 1?e•fore or after the maturity of s:Iid note, and without notice or consent: la! Release any lx•rsc?n Ii:It?le for 1>:?yment of all or any part of the indebtEdnf•~s or for lx•rformance of :Iny o~ligati~n- (1?) Make any agn>f•ment extending the time or othenvisP :dtering the terms of payment of all or any f?:Irt of the indebtedness, or m«li(ying or waiving any obligation, or sulx?nlinating, m«lifying or otherwise dealing with the lido or charge hereot- (c1 I•:xen•ise or n•frrin from exen•ising or waive any right Mortgagfr may h:n~e. td) Anrpt additional security of am• kind. (el Release or otherwise deal with .Iny prolx•rty, real or t?ersc?nal, securing the indebtedness, including all or am• part of the Mortgaged PropeHy- lH- Any agreement here:fter made by Mortgagor and Morlg:Iger pursuant to this mortg:Ige shall i?e sut?erior to the rights of the balder of any inten~ening lien or dncumhr:Inrd. 19. Mortgagor hemhv waive. all right of homestead exemption. if any, in the Mortgaged Nmfx•rty. 20. In the event of condemnation prcx•eedings of the Mortgaged Pml?erty, the award or com{?ens:Ition fl:Iyable then•- undcr is hereby assigned to and shall 1?e paid to Mortgaged. Mortgagee shall 1?e under no obligation to question the amount of anv such award or comt?ensation and may acfrpt the s:Ime in the amowd in which the s:Ime shall I?e paid. In any such condemnation prfx•e•edings, MortKage•e may i?e represented by counse•I selee•ted by Mortgagee. The proceeds of any award ur comfx•ns:Ition sc? ref•eived .hall, at the option of Mortgagfr. either (x applied to the prepayment of the Note and at the rak• of interest providfd therein, n•gardless o! the rlte of interest p:+yahle on thf• award by the condemning authorih•, or at the option of illortgagee, such award shall fx• paid over to !~fortgaKor for rnstorltion of the Mortgaged Proferty. 21. It Mortgagee. pursuant to a cnnstrvctiun loan agn•ement or loan commiUnent made by Atortgage•e with Mortgagor, agrees to make cuustruction loan advances up to the principal amount of the Note. then Mortgagor hereby covenants that it will comply with all of the terms, pro~isiuns and covenants of s:Iid constnlction Io:In agreement or loan commitment, will diligently construct fhe improvements to Ix• built panuant to the terns thereof, all of the terms thereof which are in- cortx?ratf•d herein by refen•nce as though set forth fully heroin and will f?ermit no defaults to of•rur thereunder and if a de- fault shall cx•cur thereunder, it shall constitute a dc•(ault undf r this MortKage and the 1~TOte. 22. At the option ut Mortgagef•, Mortgagor sh:dl provide 1lortgagcr with fx•rif?dic certilied auditfd statements of the (inanci:Il condition oI Mortgagor. 23. Mortgagor represents and wart:mts that it a cort?c?retion, it is duly organized and validly f•xisting. in Kfnna st:Ind- ing under the laws of the slate of its incorfx?ration. has stc?f•k outstanding which has heren duly and validly issued. and is quali[ied to do business :rod is in gc?od standing in the tit:lte of Florida. with hill lower and authority to consummate the- loan contemplated hemby::Ind, if a partnership. it is duly tormfd and validly existing, and is fully qualified to do business in the State of Florida; \\'Ith fOII fN)w'f'r :Ind authority to fonsummate the loan contemplated hereby. 'L4. In the evf•nt any one or morel of the provisions containfd in this 119ortgage or in the Note shall for any reason IK• hf•Id Io Ix• im:did. illegal or unenforceable in :Iny n•st?ert. such im•alidity, illegality or unenGm•eablity shall, at thf• option of the Aiortgagf•f•, not atlect any other provisions of this \fortgage• but this Morlg:Ige shall I?e construed as if such in~:Ilid, illegal or unf•nforcr.Jde prn-ision had never }x>e•n conhlined herein or therein- The total interest f?:lyable pursuant to the Note or this ~fortgagc shall not in any- onf• year excc•f•d the highest lawful r.?te of inten•sl in the State of Florida. 'L5. The c•menants and agmements heron rontaincd shall hind and the 1?enelits :rod advantages shall inure to the re.f?e•cticf• hairs, exe>f•utors, administrators. successors, and assigns of the parties hereto. Wherever used, the singular numl?f•r shall include the plur:d. the plur.Il the singular.:md the usf• of any gender sh:Ill t?e applicable to :II! genders. All covrn:ulh, agref•ments and undertakings sh:dl 1?e joint and sf•ver.+1. M the f•vent additional numl?erEYl covenants or pars- gr<Iphs are for cnnvenience insf•rtfd in this ?\lortgage, such :ulditional covenants shall I?e read and given effect as though following this cotenant in consecutive order. Continued on Attached Schedule "A"_3_ 11Kc~ 3"'iK •~~9 PAGE 2425