HomeMy WebLinkAbout2834apply sui•h n nts, iavu~yc uod pmtils rrreived by it on the indebtednesa secured hereby iri such onfer na MorlguKee detr~-
mi~ea. 'l'he right lo enler and tuke po.~~ion ot ihe MoNge~ged I'ro~~eKy. to munuge Wnd o{~ernte lhe aa~ne, und lo collect
the rents, iavuea und pro(its thereof, whethe~ by A receiver or otherwise, slw0 !,e cumulAlive to uny other right or rem~dy
hereunde~ or s~fforded hy law, und may be exen•ised concurre~tly lherewith o~ indej~endenUy thereof. Mortgagc~e ahal)
he liable to a~rount only for auch re~ta, isvues .~nd protita u~~tually received by Mo~lgugee.
14. lt the it-det,ted~ess securrd hereby is now or heieafter turther secured by ch:~ttel morigages, ~•urity interests.
tinuncing stntements, pledgEw, contmc•ls of gu~raoty, :-s,ignments o( leuses, o~ other securilies, or if the Mortgaged Pro-
~~eriy hereby encumbered ~~onsists o( morn ihun one {wnrl ot nal ~~rc~peHy, Mortgagee may al its oplion exhnust uny one
o~ more ot s~+id securities und security hereunder, or such ~x~rcels of the security herrunder, either concu~mnUy or inde-
{iendently, and in such order ns i! may determine.
15. This Morlgage ahall xecure nol only existing indebtedness, bu/ aiso such tulurn udvAnces, whelhe~ auch :~dvunces
~re obligalory or to be made al the option ot 111ortgugee, ur othemise, as are made within twenly (20) years trom the d:~tc
hemof, to the s•rme extent .is it such future ad~~ances were mude on the dute ot the executiun of this MoriR:~ge, bu/ su~•h
secured indebtedness shall no! exceed a~t uny time the m:~ximum principal amount of i n~a
~~lus inlerest, and any disbursements made (or the ~~aymcnl ot laxes, leviea, or insurance, on the 1Nortgaged Property, with
interrst on such disbursemenls. Any such future sidvunces, whelher oblig:itory or to be made al the option of the Mortgagee.
or otherwise, may be made either prior to or atter the due date of the Note or any other notes secured by ihis A'lortgage.
This MoHguge is giveo (or the s~~eci(ic purywse of securing any and nll i~debtedness by the MoHgagor !o Mortga~ee (1-ut
in no e~•ent shall the secured indebtedness exceed at .iny time the m:iximum princi~ml amount set torth in this ~~:~r.~graph) in
~a•hatever manner lhis indeblc~lnesc may tre eviden~rd or represNnled, until lhis Mortgage is salisfied of record. Al! coven-
ants a~nd agreements contained in this A1oHgaKe shadl be .~pplii•.~ble to all turiher advamrs made by Morigagee to
111oHRagor under this tuture advance ctause.
16. No deluy by Morigagee in exercising any righl or rnm~dy hemunder, or othemise a(torded by law, sh:ill o~~erate
as a waiver thereof or preclude ihe exemise thercwf during the ~•ontinuance of any defaul/ hereunder. No wai~•er by
Mortgagee of any default shall ronstitute a waiver o[ or consent lu subsequent defaults. No Iailure of Mortgagee to exercise
.iny oplion herein gi~~en to acc•elerate maturity of the debt hereby secured, no forhearance by Mortgagee betore or ~fter the
exercise of such option and no wilhdr.~wAl or i~lwndonment ot torec•Iwure proceeding by Mortgagee sh.ill he taken or c•on-
strued s~s a wairer of ita right to exercise such option or to acceler.~te the m.~turity of the debt hereby secumd by reason ot
any ~-ast, pn•sent o~ tuture default on ihe ~~art ot 111ortRagor: and, in like manner, the procurement o( insur.ince or ihe ~h~y-
ment of taxes or other liens or chargrs by MortKagc~ shall not 1~ t:~ken or rnnstrued :+s a w~iver ot its right to :~r~rler.~te
the maturity ot the debt hernby ~vred.
1T. Witho~t atfecting the liability o( 1NortgaRor or :~ny other ~~erson lex<~pt any ~xrson expressly releasecl in w•riting)
(or ~wyment ot any indebtedn~~ se~vred hereby or for per(ormance of any obligation contained herein, a~nd without :dfe~•t-
ing the righis of 111oHq.igee with n.s~~•t to uny stx•uritv nol expressly rele.istd in Nriting, MortgaRce may, al any time and
from time to time, eilher 1-efom or a(ler the maturily ot s:iid notr, and without notiee or consent:
(a) Rele:~se any ~-erson liable tor ~k~yment ot :iU or any ~k~rt oi the indebterlnc~-g or for ~-c~rformanre of any obli~ation.
(b) Make any agreemenl exfending the time or otherwise .dterinR lhe terms of ~u~yment ot :~II or any ~-:~rt ot the
indebtednesa, or modifyinR or wai~•ing :iny ot-liRation, or su{-orcfinatinR, moclilying or otherwise dealing with the lien ur
charge hereot. `-
(c) Exercise or retr.~in (rom exercising or w•:~~•~ any riRht I11ortQaRcr may h~ve.
(d) Accept addition:~) security o[ anv kind.
(e) Release or othen+•ise de:d w•ith any pm~~erly, m:d or ~~ersonal, scti•uring the indebtedness, ini•IudinK all or anV ~k~rt
ot the Mortgagetl Pro~~erty_
18. Any agreement her~:ilter m:ide by 11ortQaKor :~nd l~lortRaRee pursuant to this mortKaQe sh:~ll 1-r su~x•rior to the
riRhts of the holder of n~ny inten•eninR lien or encumbrancr.
19. A1ortRagor herehy waivcs all rigM u( homestead ~xemption, i( any, in thc~ AturtR:~K~d Yro~x•rty.
20. In the e~•enl of condemnation pr«•ec~inRs cif the 111ortgaRed Yru~~erty, the aw~rd or ~~om~~ens:~tion ~~:~yable there-
under is hereby assiKned !o and shall t-e ~x~id to D1ortRage~e. A1ortR.~gc~e shall F-c under no obliRation to question the amount
o~ any such :lK'.I~ or ~om~~ens:~tion and may ai•crpt !he s:~me in the amounl in which ihe s:~me shall be paid. in any such
rnndemnation prm-eedings, ~ltortRaRee may 1ie rc~~-msent~~l 1-y rounsel sel~~ted by MoHRaRcr. The pr«•et~1s of any :~w-ard
or ~•ompensatinn so recei~~ed sh:dl, al the option ot 1lortg:~Ree, either be applied to the prnpaymenl o( lhe Note and :it the
r.ite of interesl pro~•ided thcmin, re~ardless ot the r.~te ot interest ~~:ryable un the :~w~urd by lhe ~-ondemninq authority, or at
the option ot i~tort~aKc~, sueh award shall ix~ ~-:~i<I o~-er l0 111urIRaRor Ior mstorati~-n of the 1ltortRaged Pro~-erty.
21. If :~1ortRaRtr, punuant to a~•onstruclien lo:~n aKnrmi•nt or loan cummitment made by 111ortRaRee w•ith Alortg.~Qor,
:iQmes to m:~ke ~-onstru~•tion I~~:~n :~d~:inc-es up to ihe princi~-:d amuunt ~f the Notr, then A1ortRaRor herehy c~~•enants th~t it
will cromply vvith all o( the terms, pro~isiuns and ~-o~•Pnants o( s:~id constru~•tion loan :~Qreemenl or lain cummitment, will
diliRently constnicl the impm~•t~men:s to 1-e huill pursuant to the terms thereof, all oi the lerms thert~f ~+•hich are in-
cur~-oratcYl herein by m(ereni•e as thou~h xt (orih lulh~ hemin and will ~iermit no defaults to oi-.~ur thereunder :~nd if a de-
(ault sh:~ll «•cur thercunder, it ~h:~U i•onstitute a def:~ult w-der this MortRaRe and the I\ote_
22. At the option u( l~lorlK:~Rc~c~. A1ortK:~Ror sh:dl pro~~ide A1ortRaKer v-~ith ~~erioclic cPrtified audite~l stateme•nta of thP
(in:~nci:d condition o( A1~~rtKaRor. •
23. ~1orlKaKur r~pn _u~nts and warranls that if a~•or~x-r.~tion. it is duly orR:~niud :~nd ~:~lidh• exi~tinR. in K~xx1 stand-
inR under Ihe law~s ~~f the statc~ of its in~•or~-nration, h:~s stM•k outstandinR whii•h h:~s tK~•n duly and ~alidly i"u~d, and is
yuali(iccf to do husiness :~nd is in K~x~ s1:u~dinR in the tit:de of Florid:~, with full ~-ower and ~aulhority to ~•onsummate tht~
loan ~•ontemplatecl hrreby: :~nd, ~( a ~~:~rtnershi~~, it is duly tormcrl and ~•alidly ea~sting, and is fully qu:ilified to do butiine~s
in the Statc~ o( Florida: v-•ith full {x-w~er and authurity to i•onsumm:~te th~ loan conlemplated hereby_
'l4. In lhe e~~ent any one or more o( !he pm~itiions ~~ontained in lhis l11or1gaRe or in the Note shall for .~ny reason
Ix• h~•Id to Ire in~~alid, ille~al or unenforceable in any rc~~x~.•1, su~•h in~•alidity, iII~~Rality or unentorce:iblity shall, :~t the~
option uf the Mort~;ak~~~, not atte~•t :~ny other ~-n~~•ision~ ol this \torlK•~R~, but this ~tortRage shall I-e construecl :~s i( su~•h
im:~lid, i11eKu1 or unen(on•eable pm~~ision had ne~•i~r I,ec~n ~•ontain~Yi hemin or therein. The total interest ~uryalde pursuant
tn the Nole or this A1ortKaKe shall not in an}~ un~~ po.~r ex<•~~i~d th~~ hiKhcwt I:~w(ul r.He of interrct in Ihe State of Florida.
'L.i. "1'he i•ocenanfs :~nd a~{reemcnts herein i•unlainEY1 ~hall I~iud and Ihe Ixnetits and ad~:~nta~ees shall inure to the
re.~xr•~i~~e h~•irs. ~xe~vtun, administr.~tors. .u~•c~~~..urs, :u~d a.signs of th~ ~~:~rti~~s hemto. Whem~•er u~cecl, the sin~ular
numtKr shali in~•lude the plur.d, the plur.d Ihe sinKul:~r. :ind the u~e• o( any Kendcr ahall tN~ appli~able to all Rendcrs. All
~Y~cenanls, agrE~e•m~•nts and und~rt:~kinqs shall 1-e joint :~nd x~~•er.d. In the ~~~nt :iddiGonal numtmmcl em•enants or ~-ara-
qraphs am tor comeni~nrn in~•rted in this ~iorlKaRe, tiu~~h addition:d ~~n~~nants ~hull Ix m.id and Ri~~en e((ect as though
following this cnv~nant in i•onsecuti~~~ ordPr _
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