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apply such mots, issues and profits received by it on the indebtedness secured hereby in such onhr as Mortgagee deter- '
mines. The right to enter and take Iwssession at the Mortgaged Proterty, to manage and operate the s:+me, and to coliec•t
the rents, issues and profits thereof, whether by a receiver or otherwise, shall be cumulative to any other right or comedy
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 profits actually received by Mortgagee.
14. It the indebtedness secured hereby is now or hereafter further secured by chattel mortgages, security interests,
financing statements, pledges, contracts of guan+nty, :?ssignments of leases, or other securities, or it the Mortgaged Pro•
perty hereby encumbered consists of more than one parcel of real property, Mortgagee may at its option exhaust any one ;
or more o[ said sec•uritiea and security hereunder, or such parcels of the security hereunder, either concurrently or inde-
pendently. and in such order as it may determine.
15. This Alortgage shall secure not only existing indebtedness, but also such future advances, whether such :+dvt+ncea
are obligatory or to be made at the option of Mortgagee, or otherwise, as are made within twenty (20) years from the date
hereof, to the same extent as it such future advances 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 S ~~a
plus interest, and any disbursements made for the payment of taxes, levies, or insurance, on the Morig:+ged Property, with
interest on such disbursements. Any such future advances, whether obligatory or to be 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 by this Mortgage.
This Mortgage is given for the specific purpove of securing any and all indebtedness by the Mortgagor to Mortgagee (but
in no event shall the secured indebtedness exceed at any time the maximum principal amount set forth in this paragraph) 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 Alorigage shall be applicable to all further advances made by Mortgagee to
A4ortgugor under this future advance clause.
16. No delay by Mortgagee in exercising any tight or remedy hereunder, or otherwise afforded 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 shat) rnnstitute a waiver o[ or consent to subsequent 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 abandonment of foreclosure proceeding by Mortgagee shall be taken or con-
strued as a waiver of its right to exercise such option or to accelerate the maturity of the debt hereby secured by mason of
any past, present or future default on the part of Mortgagor: and, in like manner, the procurement of incur:+nce or the tk+y-
ment of taxes or other liens or charges by I\tortgagee shall not t+e takem or construed as a waiver of its right to accelerate
the maturity of the debt hereby secured. ,
17. Without affecting the liability of Mortgagor or any other person (e:cept any person expressly released in writing)
for payment of any indebtedness secured hemby or for performance of any:obiigation contained herein, and without affect- '
ing the rights of Mortgagee with respect to any security not expressly rrleasad iri writing, Aortgagee may, at any time and
from time to time, either before or after the maturity of said note, and without notice or consent:
(a) Release any person liable for payment of all or any past Qf tbq indebtedn~se or for Ierformance of any obligation.
(b) Make any agreement extending the time or otherwise aiterjsg ~tbe,tenns of Itayment of all or_ any part of the
indebtedness, or modifying or waiving any obligation, or subordinating, modifying or othetwige~ d~ with the lien or
charge hereof.
Exercise or refn+in from exercising or waive any right Mortgagee may havc.-
(d) Asrept additional security of any kind.
;e) Release or otherwise deal with any property, coal or personal, securing the indebtedness, including all or any ik+rt
of tl+r Mortgaged Property.
18. Any agreement hereafter made by Mortgagor and Mortgagee pursuant to this mortgage shall be superioi to the
rights of the holder of any intervening lien or encumbrance.
19. Mortgagor hereby waives all right of homestead exemption, if any, in the Mortgaged Property.
20- In the event of condemnation pra•eedings of the Mortgaged Property, the award or compensation payable there-
under is hereby assigned to and shall be paid to Mortgagee. Aortgagee shall be under no obligation to question the amount
of any such award or compensation and may accept the same in the amount in which the same shall be paid. In any such
condemnation proceedings, Aortgagee may be represrntrcl i,y cuu++~i selected by :Llorlgagec. The pr^eeeds of any award
or compensation so received shall, at the option of 1liortgagee, 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 tqe condemning authority, ur ai
the option of Mortgagee, such award shall be paid oser to Mortgagor for restoration of the Mortgaged Property.
21. If Mortgagee, pursuant to a ronFtnrcti~n lo;+n aereemerit or loan rnmmitment made by Mortgagee with Aortgagor,
agrees to make construction la+n advances up to the princitr.~l amount of the Note, then Mortgagor hereby covenants that it
will comply with all of the terms, provisions and covenants of said construction loan agreement or loan commitment, will
diligently construct the improvements to he built pursuant to the terms thereof, all of the terms thereof which are in- s
corporated herein By reference as though set forth fully herein and will permit no defaults to occur thereunder and it a de- E
fault shall occur thereunder, it shall constitute a default under this Mortgage and the Note.
22. At the option of Mortgagee, Mortgagor shall provide Aortgagee with periodic certified audited statements of the
financial condition of A4ortg:+gor.
23. Mortgagor represents and warrants that if a corporation, it is duly organized and validly existing, in good stand-
ing under the laws of the state of its incorlwration, has stork outstanding which has been duly and validly issued, and is
qualified to do business and is in good standing in the State of Florida, with full power and authority to consummate the
loan contemplated hereby; and, if a partnership, it is duly formed and validly existing, and is fully qualified to do Business
in the State of Florida: with full power and authority to consummate the loan contemplated hereby.
24. In the event any one or more of the provisions contained in this Mortgage or in the Note shall for any reason
be held to 1?e invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceablity shall, at the
option of the Aiortgagee, not affc~c-t any other provisions of this :1'Iortgage, but this Mortgage spa!! t_.e construedi ag if such -
invalid, illegal or unenforceable provision had never Bec-n 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. Tie covenants and agreements herein contained shall Bind and the benefits and advantagea~shall inure to the t`
respective heirs, executors, administrators, successors, and assigns of the parties hereto. Wherever used, the singular -
number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. All
covenants, agreements and undertakings shall be joint and several. In the event additional numbered covenants or para-
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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