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apply such mnts, istiu~n; t~nd protita m~•eived by it o~ Ihe indchtednesa x~vnrf hen~by in su~•h onk~ us Mo~iguK~r detc~-
minra. The right to enter and take ~-a~ssion ot lhe Moriguged I'ro~~eHy, to mainage und o~~er.+te the w~me, und to collc~•t
the rents, is.cues und profita thereot, whethe~ liy a receive~ or olherwise, shall 1-e cumulutive to uoy other right o~ remcdy
hereunder or n(tonled by luw, and may lie exen•ised rnncurrenUy themwith or inde~~cndently ihen~~f. Mo~tg:~gee shnll
1-e liable to n~Y~ant only (o~ such re~ts, issues and protils uctually re~rived by Mo~tgugre.
14. It the indebt~dness secured hereby is now or herca(ter turther aecumd hy ehuUe) mortgt~ges, u~•urity intereata,
fina~ncing sta~tementa, pledges, contrACts of guan~nty, ussignmenls of (e.~ses, ar othe~ securities, or if the Mortgaiged Yro-
~xrty hereby encuml-emd consisls o( more thun ooe ~x~nrl o( n~ul pro~~erty, Mortgugee may at its option eYhaust uny one
or more ot said ~ecurities and securily hrmunder, ur such ~ki~cels of the secvrily hemunder, either concurmntly or inde-
pe~denlly, and in such orcier as it ~wy determine.
15. 1'his Mortguge shall ~~ure not only existing indebtedness, but ulso such (utum advaincrs, whethrr such ad~•unces
are obligatory or to be ma~de ~t the opti~n ot Mortga~gee, or othemise, as nre mude within lwenty (~) yea~s trom the date
herrof, to ihe same extent us if such future advumrs wem made on the date ot the execution o( this A1orlRuge, 1-ut such
secured indebt~~lness shnll_ not exceed al uny lime the m:~ximum principal :imount ot i n/a
plus inten.•st, and any disbursements made tor the ~x~yment o( t:ixes, levies, or insur.~n~r, on the Mortgaged Pro~mrty, with
interest on such disbursements_ Any such tuture advam~s, whether obligutory or to -~e mnde at the option of the MortRagee.
or otherwise, muy be mnde either prior to or afler the due dute of thc Note or any other notes secured by this Mortgage.
This l~loriRt~ge ix given for the s~i(ic pur~wse of securing any and all indebtedness by the A1oHg:~gor to Mortgagee Ibut
in no event shall the secared indebtedness exceed at any time the m.~ximum princi~kil :~mount set (orlh in this ~k~r.iKraph) in
w•halevet manner this indehtedness maiy he evidem~rd or npmsenh~d, until this Mortgage is ~tistied ot record. All rnven-
ants und agn.~c ments conlained in this Atortgagc sh.~ll be :~pplii•able to al) further ad~~am•es m:~de hy Mortgagee to
Morlgagor under ihis (utuce ad~•~mr clause_
l6. No deluy by Mortgagee in exercising any right or n~medy henunder, or othemise attordrd by l.~w, sh:~U o~xr.de
as a wui~•er there~f or prrclude the rxemise thereof during the co~tinuani~e o( any defnult hemunder. Itio wai~•er i-y
111ortgagee of any de(uult shall constitute a waiver of or consent lo suhc~rquent defaults. No (ailure of Alortgagee to exercise
uny option herein gi~•en to accelerate maturily of the debt herehy serured, no forbearnm-e by MortgaRee 1-rlom or atter fhe
exercise of such oplion and no withdrawal or ai-:indonmenl of foreclosure pro~~x~ding by 1Norlgagee shall tie taken or ~ron-
strued as a waiver of its right to e:ercise such option or lo a~reler.~te the maturity of ihe debt hernby secure~f by reason o(
.iny ~~ast, presenl or futum defaull un the ~k~rt of Tlorlgagor, and, in lik~ m:~nner, the procumment of insur.m~r or the ~r~y-
menl of t:~xes or other licns or charges by MortR:~~ee .r•hall not Ix~ t:~ken or ~•onctruc~ri as :~ w:~i~~er of its right to a~•~rler.~te
the maturity of the debl hrrehy sc~•ured.
17. Withoul at(ecting the li~bility of 111ortgagor or any other ~~erson Icxcept :~ny ~x~rson rxpn~ly rele.ised in writinRl
for ~x~ymenl of any indebtedness sec•umJ hereby or for ~~erfomr.ince of vny ohliRation rnntained hemin, :ind without a(lei~t-
ing lhe riRhts ot MorlRagee with res~ie~•t to any securih not exprc~ssly released in wrilin~. A1ortR:~Ree m:~y, al any time and
fmm lime to time, either t~efom or atter the maturity of said notc•. .ind without noti~-e or ~-onsent:
Ia) Release any ~xrson liable for ~k~ymenl ot all or any ~u~rl of the indebtednekS or tor ~x~rturm:~nce o( any obligation.
(b) Make :iny agree•ment extendinR the time or othervvise ~Itering the terms ot ~k~yment o( all or any ~~.~rl ot the
indebtedness, or moditying or v~•ai~~inR any ol-IiRation, or sutK-rclinating, mocli(yinR or othervvise dealing v-•ith the licn or
chargP hereof. - ~
(c) Exemise or refr.~in trom exen•isinR or w.~i~•~• any riRhl 1~1ortR:~Rer mav ha~e.
Idl Accept .~ddition:~l sc~vrily of :~ny kind.
(e) Relear+e or otherwise deal with any pro~wrly, real or {~ersonal. securing the indei-teclness, in~ludinK all or any ~~:~rt
ot the Morigaged Pro~~erty.
lit_ Any agn~ement hemafter made by A1ortK:~Kur:u~d MortR:~KM~ pursuant to lhis mnrlKaRe shall be su~~erior to the
riRhts of the holder of any inten•eninK lien or encumhrance.
19. Mortg.~gor hemby wai~•es atl ri~ht of homestead exemption, it :~ny, in th~• AtortRaKcr1 Pro~x~rt~~.
20. In the event of condemnation prrx•crdinKs o( the hloAgaged I'rc-~-erfy, the aw~rd or ~•om~xns:ition ~~yuble there-
under is hemby assiKned to ~nd shaU ix paid to l~tortgagee_ NiortgaKc~• sh:~ll I~e under no obligatian lo qucstion the ~mount
of any such av-•arcl or com~~ensation and may ai-~rpt the s:~me in the amount in which the same shall 1-e ~u~id. In any such
~•ondemnation pr~eedings, 11ort~agee m:+y tre repmsrnted 1!v ~~unsel selected by DlortgaRee. The pmc•c~ls of :~ny :+w•ard
or compensation so rccei~•ed shall, at the option o( ~1ortRagee, either t-e appliecl to the pre~k~yment o( the l~ote and al the
rate of inten~st j~m~~ided therein, mKardless of the r.de oI interrst ~xiy:~ble on lhe :+~~~ard by the i•ondemning authority, or :~t
the option of MortRaRee, such awarcl shall I~e paid o~~er to 1ltortgaRor t~~r nwtoration of lhe A1oHR:~Rrd Pro~~erty.
-..~ ~.•~ s • ~;:•::. ~.j ~'~'+c+N C:'" ~t~ .
21_ I( A1ortRaRee, pursuant to a conslruction IiuAi aRreemenl or loa~ ~~o~Qi~t made by MortKaRre v-•ith l~lortgagur,
:iKrees to m:~ke ~•onstruction lo:m ad~~:~n~•t•s up lo fhe prini~ipal amo~ntit~of th~~~i e, en A1ort~ eor hereby ~•ovenants that it
H•ill comply with :ill of the terms, pm~•isions and i•o~~enants o( s:+id rnnstrut~tio/i=~oa1~4~~teeri~~t or loan commitment, will
diliKenUy conslruct the impm~•ements to be huilt pursuant to the terma thereot, all o( the~tlelitis thermf w~hii~h :~m in-
~•or~x-r.ited herein by m(eren~•e as thooRh u~t (orth (ully hemin and will ~-ermit no detaults to occ4r thereunder :~nd i( a de-
fault shall «•~•ur thereunder, it shall ~•onstitute a defaull under this AtortRage and the Not~.
22. Al the option o( MorlRaRee•, ~1ortK:~Rur tih:dl pmvide \1oriKaRee with peri«iic ~Y•rti(icvl :wditEd statements ot the
financial rondition of 1~tortK:+Ror.
`l3. AtortRaKor repr~~~nts and Karrants that i( a~•oryx-r.dion, it is duly orK:~nizecl :~nd v.ilidly ~•xisfinK. in Rood stand-
inR undrr the la«s of the state ot its in~-or~-or.dion, h.IS S~M'I( outst:mding which has tKrn duly :~nd ~alidl~~ issuc~, and is
yualified to do businc~s.g and is in R~x~d slanJinR in thc State of Florida. w•ifh full ~x~wer and authority to ~•onsummate th~
loan i•untemplated hc~mby: :~nd, it a ~k~rinenhip, it is duly tormc~l and ~•aliJly existinK, and is fully qualified to do Lusinrc~
in the State ot Florida: aith tull ~mwer :~nd :~uthorily to i•onsummate !he loan contempl:~tecf hereby. ~
'l4_ In lhe e~~ent :iny one or more o( the provisions contairx•d in this 1~iortR:~Re or in the Note shall (or any reasun
fM held to Ix• invalid, ille~a) or unen(orceable in any res~-evt, su~•h im~:didity. illeR:ility or unentorceablity shall, at' the
o~-tion of the AtortRaRee, not :d(cyf any other pn-visions of this AtortQaKe, iiut this 1lortg~~ge afiall t-e co~strued as i( such
in~:~lid, iIl~Ral or unenfon•~:~bl~~ pro~~ision had nc~~•~r 1-een ~•ontain~~d hercin or themin. The tutal inlerest ~-ayable pursaant
to the I~ote or this A1ortR:~KF ~hal) nnt in any un~• yi:ir ~~x~•i~~d thf~ hixhc~st law•lul r.de ot intenwt in the State of Florida.
$ `l5. 7'he covenants and :~Rreements herein ~•ont:~ini~cl shall bind and the Ixnetits and acl~•antaRes sh:ill inure to the
~ resE-e~•ti~~e heirs, exe~vtor.c. :idministrntors, succe~v~rs, and a~~iKns o( the ~k~rtits h~•reto. Whem~~er used, the sinRular
numlrer sh:~ll ini-lude the plur.d, the plural the sinRular, :~nd the us~r .~( :~ny ~ender shall 1-e :~pplicable !o al) genders. All
~-o~•enants, agrecments :ind unclertakinga ~hall I~e juint and esevPr.d. In th~ e~•enl additional numbered ~-ovenanls or ~~ara-
Rraphs am for eonvenien~•e inscrted in this D1orlRaRr, su~h additional ~•ovenantg chall bc mad and Ri~-en e(teet as though
tollowing this ca~~enant in ~•onsec•uti~•e order.
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; 3 BQOK 346 ~M~E 2919
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