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apply such rents, is-suva and profile received by it on the indebtedness secured hereby in such order us Mortgagee deter-
mines. The right to enter and take Iwa-s+rssion of the Mortgaged Properly, to manage and operate the same, and to collect
the rents, issues and prof its thereof, whether by a receiver or otherwise, shall be cumulative ~to any other right or remedy
hereunder or afforded by law, and may be exen•ised concurrently therewith or indel+endently 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 herea[ter further secured by chattel mortgages, security interests,
financing statements, pledges,, contracts of guaranty, assignments of leases, or other securities, or if the Mortgaged Pro- '
party hereby encumbered consists of more than one Iwrcel of real property, Mortgagee may at its option exhaust any one
or more of said securities and security hereunder, or such parcels of the security hereunder, either concurrently or inde-
pendently, and in such order us it may determine.
15, This Mortgage shall secure nq~l existing indebtedness, but also such future advances, whether such advances
are obligatory or to be made utj111's gptleA~~origagee, or otherwise, as are made within twenty years from the date
hereof, to the same extent as if such future advances were made on the date of the execution of this Mortgage, but such
secured indebtedness shall mot exceed at any time the maximum principal amount oft -
plus interest, and any disbursements made for the payment of taxes, levies, or insurance, on the Mortgaged 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 eithei 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 purpose of securing any and all indebtedness by the Mortgagor to Mortgagee (hut
in no event shall the secured indeltedness exceed at any time the maximum principal amount set forth in this Imragr.+ph) 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 Mortgage shrill be 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 afforded by law, shall operate
:+s a waiver thereof or preclude the exercise thereof during the continuance of any default hereunder. No waiver by
Mortgagee o[ any default shall rnnstitute a waiver of or consent to subsequent defaults. No failure of :1lorigugee to exercise
any option herein given to accelerate maturity of the debt hereby secured, no forbearance by Mortgagee before or after the
exenise of such option and no withdrawal or abandonment of foreclosure proceeding by Mortgagee shall he 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 reason of
any past, present or future default on the part of Mortgagor: and, in like manner, the farocurement of insurance or the l,ay-
ment of taxes or other liens or charges by Mortgagee steal) not he taken or construed as a waiver of its right to a+relente
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 jaerformunce of any obligation contained herein, and without a~fect-
ing the rights of Mortgagee with reslre+•t to any security not expressly released in writing, biorlgagee 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 Irayment of all or any part of the indebtedness or [or laerformance of any obligation.
(b) Make any agreement extending the time or otherwise altering the terms of payment of all or ;any f><•+rt of the
indebtedness, or modifying or waiving arty obligation, or subordinating, modifying or otherwise dealing with the lien or
charge hereof.
(c) Exercise or retrain from exercising or waive any right Mortgagee may have.
(d) Accept additional security of any kind.
(e) Release or otherwise deal with any profaeriy, real or f~ersonal, securing the indebtedness, including all or any tx+rt
of the Mortgaged Property.
18. Any agreement hereafter made by Mortgagor and A1origagee pursuant to this mortgage shall be sufaerior to the
rights of the holder of any intervening lien or encumbrance.
19. Mortgagor hereby waives ;ill 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 fxayable there-
under is hereby assigned to and shall be paid to Mortg:+gee. Mortgagee 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 faaid. In any such
condemnation proceedings, Mortgagee may be represented hY counsel selected by Mortgagee. The praeeds of any award
or comt~ensation 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 {a:ayahle on the award by the condemning authority, or at
the option of Mortgagee, such award shall be paid over to Mortgagor for restoration of the Mortgaged Property.
21. If Mortgagee, pursuant to a construction loan agreement or loan commitment made by Mortgagee with Mortgagor,
agrees to make construction la+n ads:+nces up to the principal amount of the Note, then Mortgagor hereby arovenants that it
will comply with all of the terms, lrovisions and covenants of said construction loan :+greement or loan commitment, will
diligently construct the improvements to Ise Built pursuant to the terms thereof, all of the terms thereof which are in-
cortwrated herein by re(ernnce as though set forth fully herein and will permit no defaults to occur thereunder and if a de-
fault shall occur thereunder, it shall constitute a default under this 111origage and the Note.
22. At the option of Mortgagee, Mortgagor shall provide Mortgagee with periodic certified audited statements of the
financial condition o[ Aiorlg:agor.
23. illortgugor represents and warrants that if a corporation, it is duly organized and validly existing, in good stand-
ing under the laws of the stale of its incort~oration, has stock outstanding which has been duly and validly issued, and is
qualified to do business and is in gad st:+nding in the St:+te of Florida, with full power and authority to consumm:+te the
la+n contemplated hereby: and, if a Ik~rinership, it is duly formed and validly existing, and is fully qualified to do business
in the State of Florida: with full Bower 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
tie held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceablity shall, at the
option of the Mortgagee, not affect any other pro~•isions of this Mortgage, but this 1Llortgage sh:+11 be construed as i( such
invalid, illegal or unenfor<•eable provision had never been contained herein or therein. The tots! interest payable pursuant
to the Note or this Mortgage shall not in any one year ex+•eed the highest lawful rate of interest in the State of Florida.
25. The covenants and agreements herein contained shall bind and the benefits and advantages shall inure to the
reshec•tive heirs, executors, administrators, successors, and assigns of the Ixariies 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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