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Home My WebLink About0134t ~ :~{-ply sui•h n•nts, i~u~~s und pn-(ita nn~eiw~! by il oi- IhP indebt~dness ari•un•cl heri~hy=in such on1~~f ~ta ~1ort~uKc~ detrr• minNS. The ~ighl lo inter t~nd ti~k~ ~~osw:~.viun oI the MoHga~grd Yrc-~wrly, fo munugr und ~-~xrat~ Ihe s:~mc•, and to c~ollc~•t the rrnta, is;gue~ and p~o(ita thNmo(, whether by u m~~eiver or utherv-•ise, ah:+ll I~e cumulalive to nny othe~ riRhl o~ remedy henuniler or utto~ded by Inw, ~nd me~y 1~ exen•ised con~•urn~ntly therewith o~ inde~~ende~Uy Ihe~it. Mortg:~gee ahall I~e lit~ble lo :~n~ount only for such n•nts, isssuea und p~otits urtu:~lly mceived by Mortgagee. 14. If the indebtednesa sc~vmd hemby is now or he~r:dter turther secund by rhattel mortguges, si.KVrity intereats, (inuni•ing slutemcnts, plctilges, ~Y-ntr.~i~ts af gu:mmly, a~ignmenta o( le.w.~s, or othe~ securities, or if the Mortgt~ged Pn~- ~xrtv hPreby en~uml-ered ~~onaists of more thun one p:+n•el ot rezd properiy~ MortgAgee nury ut ita option r:hauat uny one or more of suid xcruritirx und se~urity hereunde~, or such ~~rcels of the security hereunder, either concu~rently or inde- Nendently, and in such order us il muy detcrniine. 15, This Mo~tgage sh:dl secure not only existinR indebtedness, but ulso su~•h lutum udvamrs, whether such aidvan~Yx :~re obligntory or to I~e made ut the uption ot MortKt~gee, or otherwise, ns urr mnde within twenty (20) Ye~ra ttom the dale hereo(, to the s~me extent .is if such future adven~~ werr m.ale on the ilate ot thc• execution N/~tAhia MortguKe, but such ~•umd indebtednesa xhall not exceed ut uny time the muximum princiE-al amount ot S plus interest, und any distwraementa mude tor the ~k~yment o( taxes, levies, or insurnn~r, on the MortgaRc~ci Pn,~,erty, with interest on such disbursemenls. Any such future udvaniY~, whether ubliqutory or to he mnde at the option ot Ihe MortKagcr. or otherwise, tn:iy he mnde either prior to or after the duc dute ot the Note or any other notes secured 1-y this Atortgage. 7'his 111ortKage is given (or the sNeri(ic pur~wse o( sc~•uring any and ull indeMcYlnc~.4 by !he MortguRor to MortRaRre Ibut in no event shull the sc~•ured indebteciness ex~reci ad a~ny time the nr.iximum princi~kil :~mount set (orth in this ~uirnRr.~ph) in whutever mnnner this indebtcYlnc~s may be e~•iden~YC1 0~ repn~scnled, until this Mortgaqe is s:ilis(ird oT rc~rord. All cv~-rn- ants :md agn~emenls ~^ontained .in this T1oriRaRe sh:~l) be appli~~able to :dl turlher advanirs m:~de by MortgaRec• to A1urtg:igor under this (uture advam~e cl~use. 16. No delay by Mortgagee in exercising any ~ight or mmedy hereunder, or otherwise atforded by law, xhall o{~rate as a waiver thereof or preclude lhe exemisr thrrcw( during thc <-ontinuan~r o( uny de(ault hemunder. No waiver by lllortgagee oi any detuult sh:~ll constitute a wai~~er ot or consent to sul-seyuent def~ulls. No t.iilure o( Mortgagir to exerrise any option herein giren to anrlerate maturify of the debt herPhy sevvred, no torbe:ir•-n~r by Murlgagee l~etore or after the t•xercise of such option :~nd nu withdn~wul or atwndonment of forc~•losure proc-eeding by Mortgagee shall t~e taken or con- strued as a waiver of its right lo exercise such option or to acnler.~te the maturity of the debt hereby se~•ured by n~:~ron o( :~ny ~k~st, pn~ent or tutum default on the Ex~rt ot MortgaQur, and, in like manner, the proi•umment ot insur:m~r or the ~~:~y- ment of taYes or othcr liens ur i•harg~~s by MorlKaRee shall ~n~t tw taken or cti~nstn~i~c1 ~s :~ waiver of its ri~;ht to airel~r.~te the rrwturily ot the debt heret,}• ~•ured. 17_ Without atfecting the (inbility of lllortgaRor or any other ~mrson tex~Ypt any ~mrson expnssly releascKl in M•riting) for ~u~yment o( any indebl~•dnecg sec-un.d hereby or for ~~erforniani~e o( :my ob1iR:~lion containc~d herein, and without af(~•t- inR the rights of 111ortgaRee with rns~xti•t to any sevvrity not expmssly relt.~sec1 in writing, MoriRaRre may, :U :my time and (mm time to fime, either Ix•fom ot a(ter the maturity of said nott•, and wilh~ut notire or rnnsent: la) Rele:~se :my ~-crson liable (or ~x~yment ot all or .iny ~u~rt of the indebtednc~ or for ~Mr(ormarn•r u( any ohliR~lion. (b) Make any agn~c•ment eYtendinR thr time or otherwise :dtering the term~ of ~-ayment ot all or any par! ot the indeLtedness, ur modi(ying or M:ii~•ing any ubli~:~tion, or suFK-nlin.dinR, muditying or othervcise de:~ling with the lic~n or ~•harge hereu(. Ic) Ezercise or refr~in (rom exercising or wai~~~ any right A1orIR:~Ri~e may ha~~e. (d1 Acce~~t addition:~l sccvrity of any kind. (e) Release or otherwi~e dea) w•ith any pm~xrly, nal or {~tson:d, se~•uring lhe indebtedness, including :dl or any ~w~rt ot the Mortgaged Property- l8_ Any agreement herra(ter made 1-y 1lfortgaKur and 1~tortRaR~~r ~-urxuant to this morlR:~ge shall t-e su~~erior to the riRhts o( the holder o( any inten~ening lien or encumbrince. 19. Morlgaqor hereby wai~•es aU riRhf of hnmewlrad ezemption, if any, in the AlortgaRcY1 Pro~x~rty. 20. In the evenl ot condemnation proi•eedinRs of the A1ortRaRed Pro~mrty, the award or compenx~tion {~ayable there- under is hereby assigned to and shall be paid to Mortgagee_ MortRaRee shall be undrr no obligation to question the amount o( any such award or compensation and may accepl the ~me in 11~e amuunt in w•hich the same sh:dl he ~u~id. In any such ~~ondemnation pro~redings, :~lorlgagep m:~y he representcd iry eounsel sele~•ted i-y A1ort~agee. The prex•eeds of :my awanl or compensation so recei~~ed shall, al the option of MortKagee, either he applieci to the pre~~.-~yment of the Note and at the rale of interest pro~•idcd therein, reRardles.g ot the r.~te o( inten~s! ~k~yable un the avcard by the condemning authority, or at the option of AtortqaRee, such aw•ard shall tx ~~:~id o~•er to :~tortKaRor (or n~toration of the 2ltortRaged Property. 21_ If 111ortqagee, pursuant to a c~onstruction loan aKn~ment or I~~:~n i•ommitmen/ made by Mortga~gee with 1~lorigagor. aKrees to tnake construrtion loan ad~•ances up to the pnn~ip;d amuunt o( the Nutr, then MurtRaRor her~by ~ro~~en:ints that il w•iU comply with all o( the terms, pro~-isions and c•ocenants ot said i•onstruction loan :~Rreement or loan commitment, will diligently consiruct the impro~~ements to I~e built pursuant to the terms therc~t, :ill of the terms thereof which are in- ~•or~wr.iled herein by reterence as thouRh set fnrth fully herein nnd will ~-ermit no dPtaults to occur thereunder and if a de- (ault shall orcur thereunder, il shall constilute a detault under this htortgage and the Note. 22. At the option of MortgaRee, l~lortRaqor shall pmvide Mor~g:~Ree wich ~~eriodi~ ~~niticYi audited xtatements o( the finan~•ial condition of 111ortgagor. 23. Mortgagor rnpresenls :~nd vvarr.~nls lh:~t i( a cur~~or.dion, it is duly organiud :~nd ~~alidly Pxist~ng, in good stand- ing under the laws of the atnte ot its incor~K,ration, h~~s st«~k outstanding vrhich has heen duly and val~dly icvued, and is qualified to do busincKss and is in grad standing in ihe tit:~te of Florida, with full ~wwer and authority to consummate the loan contemplated hereby: and, i( a{~artnership, it is duly tormed and validly existing, and is fully qualitied to do busi~ecs in the State ot Florida: with tull ~iowPr and authority to ~~nsummate the loan rnntemplated hereby_ 24. In the event any one or more o( the provisiona ~•ontained in lhis Mortgage or in the Note shall for any reason be held to he invalid, illeQal or unenforcratrle in any res~xr•i, such invalidity, i1leRalily or unen(orceablity ahall, at the option of the AtortR:~Kee, not a(fert any other pmvisions o( this MortqaRe, but this 111orlgage ahall be construed as it such im•alid, iI1PRa1 or unenfon•~~able provision had never bet•n rnntained herein or lherein. The total interest payable purauant fo the Note or lhia MortKaRe shall not in any one ~•t•ar ercix~d the hiRhest lawfu) r.~te of interest in the State of Florida. 25. The co~•enante and agreements herein con4~ined shall bind and lhe benefita and advantages shall in~re to the res~x~•ti~•e heirs, executors, adminigtrators, su~•cpssors, and axsigna o! ihe ~~:~rties hereto. Whereeer uaed, the singular numF-er shall inelude the plural, the plural the sinRular, and the use ot any Render shall be applicablc to ~I) gendera. All i~ovenants, agreements and undertakinga sh:ill F-e juint and several. In the erent additional numberecl covenants or para- qrapha are (or convenience ingerted in thie Mortgage, such additional mvenants shall lie read and gi~•en e(fect a~ though (ollowing this covenant in consecuti~•r order. • -~ ~ 8~ 3~5 p,~E 13~