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apply such rents, issuas and }>mfits received by it on the indebtedness secured heret~~tri su4~h order us 141ortgugee dMer-
minrs. The right to enter and take }),session of the Mortgaged Pm},erty, to manage and o},erate the same, and to collect
the rents, issues and profits lhenrof, whether by a receiver or otherwise, shall l+c+ cumulative to any other right or remedy
hereunder or afforded by law, and may be exercised concurrently therewith or independently thenot. Mortgagee shall
I,e liable to account only for such ren?s, issues and profits actually received by Mortgagee.
14. If the indebtedness sec•urrd hereby is now or hereafter farther se+rurecl by chattel mortgages, security interests,
financing statements, pledges, contracts of guar.+nty, assignmen/s of leases, or other securities, or if the Aortgaged Pm•
},eery hereby encumbered consists of mute than one pun•el of real property, Mortgagee may at its option exhaust any one
of more of said securities and security hereunder, nr such parcels of the security hereunder, either concurrently or inde-
pendently, and in such order ns it may determine.
•are obligatory or to be mode at the option of 11lortgagee, or otherwise, as are made within twenty (ZO) years a dale
hereof, to the same extent as it such future advances were made on the dote of the execution of ortgage, but such
secured indebtedness shall not exceed ut any, time the maximum principal amount
plus interest, and any disbursements mode for the }x+yment of taxes, text surmce, on the Mortgaged Pm},c•rty, with
interest on such disbursements. Any such future adxanc•es, wh • , +gatory or to be made at the o}ition of the Mortgagee,
or otherwise, may l,e made either prior to or after ate of the Note or any other notes secured by this Mortgage.
This Mortgage is given for the s},ecitic of securing any and all indebtedness by the Mortgagor h, Mortgagee (but
in no event shall the secured • mess excered at any lime the m:+ximum principal amount set forth in this },:+r.+gruph) in
K•hatever manner ebtedness may he exidencrd or repn•sentcd, until this Mortgage is s:uisfied of record. All coven-
ants : menu contained in this Mortgage shall Ire applicable to all further advanc•e•s made by lliortgagee to
16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise afforded by law, shall operate
us a waiver thereof or preclude the exercise thereof during the continuance of any default hereunder. No waiver by
14ortgagee of any default st+:+ll cronstitute 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 forbear:+nce by Mortgagee before or after the
exercise of such option and no withdrawal or alusndunment of foreclosure proceeding by Mortgagee ilhall he taken or con-
strued as a waiver of its right to exercise such option or to acmlernte the maturity of the debt hereby secured by reason of
any past, present or future default un the part of Aortgagor: and, in like manner, the procurement of insur.+nc•e or the },:+y-
rnent of taxes or other liens or charges tw Mortgagee shall not he t:+kcn or constn+ed as a w;+iver poi its rtight to. accrlc•rde
the maturity of the debt hereby sec•umd. ~ •
17. Without affecting the liability of Mortgagor or any other },arson (except any },arson expressly released in writing)
for payment of any indebtedness secured hereby or for pertonnanc•e of any obligation contained herein, and without affect-
ing the rights of Mortgagee with res},ec•t to any security not expressly released in writing, Mortgagee may, at any time and
fmm time to time, either before or after the. maturity of said note, :+nd without notiir or consent:
la) Release any },arson liable for payment of all or any part of the indebtedness on for performance of any obligation.
Ih) Make any agreement extending the time or otherwise altering the terms of },:+yment of all er any },:+rt of the
indebtedness, or modifying or waiving any obligation, ur sulwnlinating, modifying or otherwise dealing with the lien or
charge hereof.
Ic1 i;xen•ise or retrain from exe•n•ising or waive any right klortRagc•e may have.
Id) Accept additional sec•urih• of any kind.
le) Release or othenxise deal Kith any property, real or },ersonal, securing the indebtedness, including all or any part
of the Mortgaged Pm},erty.
18. Any agreement hereafter made by Mortgagor and Mortgagee pursuant to this mortgage shall he superior to the
rights of the holder of any intervening lien or encumhr.+nce.
19. Mortgagor hereby waives all right of homeste:+d exemption, it any, in the Mortgaged Pro}carry.
20. In the event of condemnation prcx•crdings of the Mortgaged Yro},arty, the award or rom},ensation },:+y:+ble there-
under is hereby assigned to and shall t,e paid to illortgagee. Aortgagee shall Ire under no otdigatiun to question the amount
of any such award or com{,ensation and may accept the s:+me in the amount in which the same shall he paid. In any such
e•onde•n,nalion proceedings, Mortgagee may tee represrntcd I,y c•ounsel selected by Mortgagee. The pnx•eeds of any award
+>r com}x•nsation so remixed shall, at the option of Mortgagee, either he applied to the prepayment of the Note and at the
rate of interest pmxided therein, regardless of the rate of interest payable on the award by the condemning authority, or at
the option of Mortgagee, such aK:+rd shalt paid user to Rlurtgagor fur restoration of the :Mortgaged Pro},arty.
21. If Mortgagee. pursuant to a cunstruc•tion loan :,gnement or loan commitment made b~• 1liottgagee with ;lfortgagor.
agrees to m:+ke construction Loan adxanres up to the principal amount of the Note, then 141ortgagor hereby coxenants that it
will comply with a!1 of the terms, proxisiuns and cuxrnants of s:+id construction loan agreement or )w+n commitment, will
diligently construct the improx•emrnts to Ix built pursuant to the terms thereof, all of the terms thercuf Khirh an• in-
ror}>,?rated herein by reference as though set forth fully hen~in and will },ermit no defaults to cx•rur thereunder and if a de-
fault shall occur thereunder, it shall constiU+te a default under this Mortgage and the Note.
22. At the option of !~7ortgagee, Mortgagor shall proxide Mortgagee with periudic• certified audited statements of thc• .
financial condition n( ~tortg:+gor.
23. ~fortg:,gur rcpn•scnts and warrants that if a rurpordiun. it is duly organized and xalidly existing. in Rood stand-
ing under the I:nxs of the state of its inror}wration, has strx•k outstanding which has kern duly and xahdly issued, and is
qualified to do business and is in gaud standing in the Mate of Florida, with full }waver and authority to consummate the
loan contemplated hereby: and, if a partnership, it is doh' furmc•d and xalidly existing, and is fully qualified to du business
in the Starr of I•'londa: Kith full IwKer and authority to cansumm:+te the loan contemplated hereby-
'L4. in the event any one ur more of the precisions contained in this :Mortgage or in the 1``ote shall for. any reason
Ix• held to fx• invalid, illegal or unrnfurc•eahle in any restx•ct, such invalidity, illegality or unentorceablity shat), at the
option of the ~lortgagre. not after! any other proxisiuns of this hTortgage, but this Mortgage shall Fee contanted as if such
im•aiid, illegal or uncnk,n•eahle pmxision had Hexer irc•en contained herein or therein. The total interest payable pursuant
to the Vote or this Mortgage shall not in any one year c•xcee•d the highest lawful ride of interest in the State of F•torida.
'L5. The cocc•n:u,ts and agreements herein contained sh:,ll hind and the heneGts and adxantagcs shall inure to the
n•str.•ctive heirs, executor, aclmiristrdurs, successors, :uxl assigns of the parties hen•tu- LVherexer used, the singuL-,r
number shall include the plur;d, the plur,+l the singular, and the use of any gender shat! Ire• applicable to all genders. All
coxenants, agreements and undertakings shall Ire joint an;l several- In the excel additional numlxred c•oxenants or },:+r.,-
graphs are for convrnienm inserted in this Mortgngc, such additional cuxrnants shall Ix read and (iron effect as though
following this coxenant in consecutixe order.
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~{~32? P~2490