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apply such rents, issues and pro(ita received by it on the indebtedness aec•ured hereby in such onler as Mortgagee deter-
mines. The right tv enter and take lwssccvion of the Mortgaged Prol+erty, to manage and ol+ende the same, and to collect
the rents, issues and profits thereof, whether by a receiver or otherwise, shall I+e cumulative to any other right or remedy
hereunder or afforded by law, and may be exen•ised concurrently therewith or independently thereof. Mortgagee shall
tle liable to account only for such rents, issues and pmfits uc•tunlly received by Mortgagee.
14. 1t the indebtedness secured hereby is now or hereafter further secured by chattel mortgages, security interests,
financing statements, I+Iedges, contructa of gu:+rnnty, :?ssignmenla of le:+ses, or other securities, or it the Mortgaged Pro-
fx rty hereby encumlx•red consists of more than one Irr+n•el of real properly, Mortgagee may at its option exhaust any one
or more of said securities and secttri~y ~+er~wder, or such 1+arcela of the security hereunder, either concurrently or inde-
trendently, and in such order as it may deteltr?irie.
15. This Mortgage shall secure. not only existing indebtedness, but also such future advances, whether such advances
are obligatory or to be made ut the option of Mortgagee, or otherwise, as are mode within twenty (20) years from the date
hereof, to the same extent as it such future advun+rs were made on the dote of the execution of this Mortgage, but such
secured indebtedness shall not exceed at any time the m:+ximum principal amount of E N /A
plus interest, and any disbursements made for the t><+yment of taxes, levies, or insuran+•e, on the Mortgaged Property, with t
intenst on such disbursements. Any such future adv:?nc•es, whether obligatory or to he made at the option of the Mortgagee,
• or otherwise, m:+y he made either prior to or attar the due date of the Note or any other notes secured by this Mortgage.
This Mortgage is given for the spe~jfic purpose 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 par.+gr.+ph) in _
N•hatever manner this indeMedness may I+e evidenc•ed or representEd, until this Alortgage is satisfied of recrord. All coven- -
ants :+nd agreements contained in this Mortgage shall he applicable to all further advances made by Mortgagee tv
Mortgagor under this future advance cl:+use.
16. No delay by Mortgagee in exen•ising any right or remedy hereunder, or othemise afforded by law•, shall operate
a waiver thereof or preclude the exen•ise thereof during the continuance of any default hereunder. 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 accelernte maturity of the debt hereby secured, no forbearance by Mortgagee before or alter the
exercise of such option and no withdrawal or abandonment of foreclosure f+rvc•eeding by Mortgagee shell be taken or c•on-
struEd as a w:+iver of its right to exercise such option or to accrler.+te the maturity of the debt hereby secured by reason of
any past, present or future default on the Ik•+ri o[ I1lorlgagor: and, in like manner, the procurement of incur.+nc•e or the pay-
merd of taxes or other liens or charges by Mortgagee shall. not be taken or c•onstn+ed as a waiver of its right to accrlernte
the maturity of the debt hereby secured.
17. Without affecting the liability of Mortgagor or any other f+erson (except any Berson expressly released in writing)
for twyment of any indebtedness secured hereby or for performance of any obligation contained herein, and without affect-
ing the rights of Mortgagee with resl+ee•t to any security not expressly released in writing, Mortgagee rr?:+y, at any time and
from time to time, either I+efore or after the maturity of said note, and without notice or consent:
(a) Release :my I+erson liable for f>i+yment of all or any Ir:+ri of the indebtedness or for performance of any obligation.
Ib) Make :+ny :+greement extending the time or otherwise :+Itering the terms of I+ayment of all or any {>.-+ri of the
indebtedness, ~,r modifying or waiving any obligation, or sut?ordinating, modifying or otherwise dealing with the lien or
ch:+rge hereof.
(c) Exen•ise or refrnin from exen•ising or w:+ive any right Mortgagee may have.
(d) Accept additronal sec•urih• of any kind.
(e) Release or otherwise deal with any property, real or l+ersonal, securing the indebtedness, including all or any ts+rt
of the Mortgaged Property.
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18. Any agreement hereafter made by Mortgagor and Mortgagee pursuant to this mortgage shall be su{lerior to the
rights of the holder of any intervening lien or encumbrance-
f 19. Mortgagor hereby waives all right of homestead exemption, if any, in the 1ortgaged Proflerty.
20. In the event of condemnation pr«•eedings of the 1Vlorigaged Yroperiy, the award or compensation frayable there-
; under is hereby assigned to and shall be Ir:+id tv Mortgagee. Mortgagee shall be under no obligation to question the amount
of any such award or compensation and m:+y accrl+t the same in the amount in which the same sh:+Il he paid. In any sclch
condemnation pr«•eedings. 1\lortgagee may be represented try cour+sel selected by Mortgagee. The proceeds of any award
[ or c•oml+ensation so received shall, at the of+tion of Mortgagee, either be applied to the prepayment of the Note and at the
l rate of inler+est provided therein, regardless of the rate of interest fr.+yaMe on the award by the condemning authority, or at
l the option of Mortgagee, such award shall Ix• tr.+id over to Mortgagor for mstoration of the Mortgaged Property.
21. If Mortgagee, pursuant to a construction Iv:+n agreement or loan commitment made by Mortgagee with :Mortgagor.
agrees to make construction loan advances up to the principal 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 imprv~•ements to be built pursuant to the terms thereof, all of the terms thereof which are in-
~ c•orfrorated herein by reference as though set forth fully herein and will hermit no defaults to occur thereunder and if a de-
r fault shall «•cur thereunder, it shall constitute a default under this Mortgage and the Note.
72. At the option of Mortgagee, 141ortgagor shall provide '~torigagee with f+eriodic certified audited statements of the
~ financ•ial condition of lllortgagor.
23. Morig:+gor represents and warrants that if a corfx+r.+tion, it is duly organized and validly existing. in good stand-
1 ing under the laws of the state of its incorlx+ration, has st«•k outstanding which has been duly and v:didly issued, and is
) yuali(ied to do business and is in good st:+nding in the State of Florida, with lull lower and authority to consummate the
loan contemplated hen•by: and, if a partnership, it is duly tvmred and validly existing, and is fully qualified to do business
in the State of Florida: with full fx+wer and authority to consummate the loan contemplated hereby.
24. In the event any one br more of the provisions contained in this Mortgage or in the Note shall for any reason
s Ix• held to be im•alid, illegal or unenforceable in any resf+ec•t, such invalidity, illegality or unenforceablily shall, at the
option of the Mortgagee. not affcc•t any other pmvisions of this 111origage, bat this Mortgage shall be construed as it such
invalid, illegal or unenforeceable provision had never Ix•en contained herein or therein. The total interest payable pursuant
to the Note yr this Mortgage shall not in any one year exceYd the highest lawful rate of interest in the State of Florida.
25. The covenants and agreements herein containedf shall bind and the 1?enelits and advantages shall inure to the
rc•sfx•c•tive heirs, executors, admlmstrators, successors, and assigns of the parties hereto. Wherever used, the singular
~ numtxr shall include the plural, the plural the singular, and the use of any gender shall lx' applicable to all genders- All
covenants, agreements and undertakings shall t+e joint and scver.+l. In the e~rnt additional numbered covenants or para-
graphs are for com•enience inserted in this Mortgage, such additional covenants shall be read and given effect as though
following this cavenant in consecutive order.
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