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Home My WebLink About0817 apply such rants, isues and profits n•c•eived by it on the indebtevlne•ss sec•un•d herel!v in such order as Mortgagee deter- m+nrs. The right to enter :rod lake tN?sussion of the Mortgaged 1'n?Ixvty, to manage :uxl u1Kr:Nc• the s:uoe, and to collcr•t the rents, issues and profits thenof, whether 1?y n receiver or otherwise, sh:dl 1?o cumulative to any other right or n•mrvly hereunder or utfonkd 1?y law, and may 1?e exen•isc•d e•oncurn>ntly therewith or indelxndrntly thenuf. Mortgages shall 1?e liable to ace•ount only for such rants, issues and profits eu•htzdly n•e•e•ived by Mortgagee. 14. If the indebtedne~4 scr•un•d hen by is now or hereafter further savured by c•hatte) mortgages, ur•urity inten•sls, tit+aneing statements, plctlges, r•c?ntracts of gu:+r.+nty, alignments of le:~ses, or other securities, or if the 1~lortgaged Yro- t>,•rly hereby encuml?ereel consists of tnnro than one lu+n•c•) of real prol+erty, Mortgagee may at its option exhaust any one or morn of s:+id securities and security hemunder, or such i?;+nels of the security hereunder, either c•oncurmntly or inde- txndently, and in such order :+s it may determine. 15. 'I'his-~Mr+rt>;.~Infl-s!e'+rte-nntmml~r~xiatt?tjtittch?Mrtlttrst~ttotahtie~eeir•4ahr+e••nef.'nne•es;.v#eelfier~ nelir~ are obligatory or to 1?e made ut the option of Mortgagee, or otherwise, as are made within twenty 120) ye• m the date hereof, to the same extent us if such future advances were made on the d:+te of the execution origage, but such secured indebtedness shall not exceed at :any time the maximum princil?al •+mou plus interest, and any disbursements made for the Imyment of tuxes, Ie tnsurmer, on the Mortgaged Prolxrty, with interest on such disbursements. Any such future advances, w o ? igatory or to he made :+t the option of the 1Vlortgagcs, or otherwise, may 1?e made either prior to or afte a dntN of the Note or any other notes secured by this Mortgage. This Mortgage is given for the sl)er•ific of ser•uring :my and :+Il indebtedness f?y the Mortgagor to Mortgagee (but in no evert shall the sec•un ness exceed at any time the m:+ximum princil><~1 :unount set forth in this 1?;+r.+grnph) in whatever manne n ebtedmss uury tx evidenc•fd or repn~sented, until this Mortgage is satisfied of ree•ord. All (»ven- ants ments contained in this Mortgage shall 1?e applicable to all further advanr•c-s made by Mortgagee to 16. No delay by Mortgagee in c•xen•ising any right or remedy hereunder: or otherwise aftordcel by law, shall operate as a waiver thereof or preclude tl?e exercise thereof during the continuance of any default hemunder. No wai~rr by Mortgagee of any default shall constitute a waiver of or consent to sul?scquent defaults. No failure of Mortgagee to exemise• any option herein given to acmlcrnto maturity of the debt hereby ser•ured, no forixar+nrr by Mortgagee 1?efore or after the exen•ise of such option and no withdrs(wal or alwndonment of fons•losure pt•oereding by Alorlgagee shall i?e taken or con- strued as a waiver of its right to exercise such option or to amelen+te the maturity of the debt hereby scc•und by reasnn of any 1)ast, present or future default on the Iu+H of Mortgagor. and, in like manner, the pror•urement of insurunc•e or the: t?:+y- ment of taxis or other liens or charges by Mortgagee shall not f?e• t:+ken or constnu•d :+s waiver of its right to accelerate the maturity of the debt hereby secured. 17. Without affecting the liability of Mortgagor or any other Ix•rscm texc•ept any Ix•rson expuscly rele:~sed in writing) for I>i+yment of any indebtedness sec•und hereby or for 1)erformamr of any obligation rnntained herein, and without altec•t- ing the rights of Mortgagee with resl?ec•t to :my security not expressly released in writing, Mortgagee, miry, at any time and from time to time, either 1?efore or after the maturity of s:+id note, and without notice or consent la) Release any f?erson liable for {?:+yment of all or any Ik+rt of the indebtedness or for fx rformance of any obligation. Ih) Iblake any agreement extrndigg the time or otherwise altering the terms of 1?:+yment of all or any I?:+rt of the indebtedness, or rrx)ditying or waiving any obW'gation, or sul?orclinating, modifying or otherwise dealing with the lien or ch:+rge hereof. (c? Exen•ise or re(r.+in tram exen•ising or waive any right Morlgugc•rr miry have. (d? Accept additional security of any kind- le) Release or otherwise deal with any prol)crly, real or 1?ersc?nal, securing the indrbterlness, including :+11 or any {?:?rt of the 111orlgaged Yrol?erty- 18. Any agreement hereafter made by Mortgagor an:l Mortgagee pursuant to this mortgage shall I?c• sulx•rior to the rights of the holder of any intervening lien or c•nc•umbr.+ncr. If 19. Mortgagor herelw waives all right of homestead exemption, if any, in the Mortgaged Ymlx•rty. 20. In the event of c•ondemn:+tion pnx•ftidings of lhr Mortgaged Prolxrrty, the award or coml?ens:+tion tk+yable there- E under is hereby assigned to and sh:dl I?f• l,:+id to Mortgagee. Mortgagee shall be under no obligation to question the amount i of any such award or comfxnsation and m::y anrpt the s:+me in the amount in which the s:+me shall 1?e {?:+id. In any sw•h j condemnation proceedings, Mortgagee may ix• rnpnsc•nle•d by counu•1 se•ler•ted by Mortgagee,. The prcx•eeds of any award ~ or r•omlx•nsation so received shall, at the option of Mortgagee, either be applied to the prepayment of the Note :+nd at the r:de of interest pmvidecf then•in, regardless of the r.+tt of inten•st payable on the award by the r•ondemning authority, or at the option of l~tortgagre, sur•h aw:+rd shall f~r• {?:?id over to M~irtgaRor for mstoration of the Mortgaged Yrot?erty. 21. If Mortgagee, pursuant to a construction b?:+n agreement or loan commitment made by Mortgagee with Mortgagor. agrees to make construction Ir?:?n advaner•s up to the 1)rincif):d :unount of the NMe, then Mortgagor herel?y covenants that it will comply with all of the terns. pmvisiuns and r•oven:u+ts of s:+id construction loan agreement or lo:+n commitment, will diligently construct the improvements to Ix• built pursuant to the terms thereol, all of the terms thereof which am in- . i corl?or.+te•d herein by relerence as though se•t forth fully heroin and will t?ermil no defaults to occur (hereunder and if a de- < fault shall c?c•cur thereunder, it sh:dl constitute a default under this Mortgage and the Note. 'L2. At the option of ~ortgagee• ~forlgagor shall provide Aortgagee with Ixrirxlie certiliccl audited statements of the financial condition of ~turtgagor- 23. 1ortgagor repre•x•nts :uu1 warr.+nts that if a corlx?rdion, it is duly organized and validly existing, in gcN?d stand- ing under the laws of the state of its ineory?r)ration• has stcx•k outstanding which has i?ee•n duly and v:didly issued, and is ~ qualified to do trusin:~: and is in gcxxl standing in the State of Florida, with full (rower and authority to eonsumm:+te the - loan contemplated hereby: and, if a p:+rtnenhip, it is duly, fonneel :ind ~:+lidl_r• existing, and is fully qualified to do business in the State of f•'lorida: wdh full bower and authority to consummate the loan contemplated hereby. 'L4. In the event any one or more of the provisions contained in this Mortgage or in the Note shall for any reason ~ hc= held to 1?e invalid, illegal or unenfonrable in any restnc•t, such im:didity, ille£ality or unenforceabltty shall, at the option of the 1lortgagcs, nM uftec•t :my other pn?visiom of this 1ltorigage, but this Mortgage shall t?e construed as if such invalid, illegal or unr•ntorce•:?ble provision had never 1?c•e•n c•c?ntainc•d herein or therein. The total interest 1?:+yable pursuant ~ to the Note or this Mortgage shall not in any one year exceed thc• highest I:+wtul r.+te of interest in the State of Florida. 25. The covenants and agreements herein c•ontainecf .hall hind and the 1?enelits and advantages shall inure to the n•axr•tive heirs, executors, :ulministrdors, succesw?rs, and assigns of the 1?.•+rtics hereto. R'herever used, the singular numf?er shall include the plur.+l, the t?lurd the singular. and the use of any gender ah:dl tx• applicable to all genders. All covenants, agreements and undertakings shaft 1?e info! and sevurd- in thc• event additional numtxred e•ovenants or 1)arn- graphs are for convenience inserted in this Mortgage, such :+dditional c•ovenunts shall Ix nad and given effect as though following this covenant in conse•c•utive order. 26. Mortgagor shall first obtain the written consent of Mortgagee prior to the E t".,~~ conveyance of the Mortgaged Property to ~ third party. ~It is specifically understood f'~~ that failure to obtain such written consent of Mortga ee, which consent may be granted ' or withheld at the sole discretion of Mortgagee, sh~~ sq,~st; tut~~~efault hereunder. BG.rK ~`V~ P..GE ~ .~:v . • - ~ - x :a