HomeMy WebLinkAbout1228upply such mnis. issues und protita nti-eivrc! by it on the indebtedr-ess se~vrcd hemb> .in sucfi orde~ as MortRaRre drte~-
minrs. '1'he righl tu entrr aind tuke ~x~~ssion ut the rlortg:~Krc1 Property, to m:inage and operaiP the s~me, and to i~oilect
the renta, issuea und pro(its thereof, whethe~ by n receiver or oEheiwiae, shill be cumulatire to eny othe~ nght o~ rem.dy
hereunder or t~(forded hy luw, and may be ezen~ised concurrenUy lherewilh o~ independently thenof. Mongagee shali
t~e liuble to account only to~ such mnts, issues and pcotita actually recei~~ed by 111ortg:igee-
14. li the i~debtidness securrd hemby is now or hereafter turlhe- sirured by clwitel morigages, srcurity interests.
fina~cing atatements, {-ledges, i~ontracla of guaranly, assiKnments ot lea3es, or other securities, or it the MortRaged Pro-
{~rty hereby encumbered consials o! more than one parcel ot real praperly, I-lorigagee m:iy at its uption e:haust any one
or more ot said securities .ind securily hemunder, o~ such {wrcels ot the se.-urity hereunder, rither COM'Uf~P(IIIV or inde-
pendently, and in such order as it may determine.
15. 7'his Mortgage shall secure not only e:isting indebtedness, but also such tuWre ad~•ancros, w•hether su.-h advances
i~re obligulory or to t-e made a4 the optioq o( Alorigagee, or othervvise, aa are made v-ithin tw~enty 1201 years trom the date
hereot, to lhe s:~me exlent as it suc6 ~uture ad~•an~~es vvere m:-de on the ctate at the e:ecvtion ot this T1orlRage, hut such
~ured indebteclness shnll not eaceed at any time the maximum principal amou~t of = n,/a
plus interest, und any distwrsements made tor the payment oi ta:es, leries, or insuranir, on the rlortgaged Property, ~+ith
interest on such disbursements. Any such tuture ad~•ances, whether obligatory or to he made at the option o( the ?1lorigagee.
or otherwise, may I~e made eilher prior to or after the due date ot the Note or any other notes se~vred by this ~tortgage.
This I1lortgage is given torthe apecific pur~w~e of scrvring any and all indeMedness by the \iortgaKo~ to AtortRagee Ibut
in no event sh.dl the secured indebtedness ez~~eed at any_time the maximum principral :~nwunt set forih i~ this µ~raRr.~ph) in
w•hatever m:inner this ipdeblcrlness m:+y be e~~idemrd or repmsented, uMil this :~tortgage is s+tisficd oi record_ AU ~~o~~en-
:~nts und agreements contained in this I~1ortRaRe shall t-e applir.iMe to all turther ad~~an~-es made by ~1~rtgaRea to
11toNRagor under this (uture ad~•ancr clause.
~16_ No delay hy 111ortgagee in exercising any right or mmedy hereundrr, or othen+ise ~(turded by law~, s1w11 o~~erate
us a waiver thereof or preclude the exemise thereof during the continuance ot any de(ault hemundc-r_ No w•ai.•er h~•
Mortgugee ot any default shall constitate a waiver ot o~ consent b sui~sequent dei:~ults_ No lailure ot ~torigagee to eYercise
any option herein gi~~en to accelerate maturity of ihr debt hereby ~•ured, no (orbearan.-e by 111or1ga~ee t-etore or atter the
exercise of such oplion and no withdrawal or atr.indunment of tore~•Iwum pra~eedinR h~ AtorlgaKee slwll be taken or ~~on-
strued :is a wai~•er of its right to e:ercise such option or to acceler.+te ihe m:iturity of the debt hemby sec-u~d by m:sson ot
any Exist, pre~nt or (ulum default on the ~~art of 111ortgaRor. :~tK1, in likr m:~nner, the pra•urement oi insurani~ or the {r~~-
ment o( taxes or other lie~s ar ~•harges hy ~11or1R:~Ree shall not tx~ t:~ken or ~r-nstrucd as a w•ai.~er o( its riRht to .~ci-elPnte
lhe ~rwturity of the debt hereby sc~•ured.
17. ~~ithout atfecting the liability of AlortgaRor or any other ~~erson IeYCrpt an~• ~~erson expressly released in v-ntinRl
for ~myment o( any indebtedneti~ secured hemby or tor E~ertomkinir of .+m~ ohli~ation contained herein. ar-d without atfect-
inR the riRhts o( T1orlRaRee wilh rec~x~•t to any securiiv not e:pressly released in v-~rit~ng. ~tortRaR~e ma~. at :~m time and
irom time fo time, cither F-e(ore or atter the maturity o( said note. :~nd v-•ithout noti.~e or consent:
Ia1 }Zele:tsr any ~-ersun liable for ~kiyment o( all or an~~ ~-art o( the in~btedncv or for ~~er(orm:in.-e of am• obligat~on.
(b) 11'lake any agcr~~ment extending the time or otherV-ise altenn~ the terms o! p:~yment oi :~11 or any part o( the
indebtedness, or mc-dityinR or wai~•in~ am• obligation, or sulwtdinatinR. m«filyin~ or othenxise dealin~ w~ith the lien or
char~e hereof. ~
(c1 F.xercix or re(r.;in (rom exen-ising or rv.+~ve any riRht !~tortRaAc~r may ha~e.
Id- Ac~rpt addition:~l secvrit~• ot any kind.
(e) Itelease or othen+•i~ deal w~ith any pm{~erty. rral or ~~er~,nal. sc~cvnnR the indebtedness. in.•ludin~ all or am• ~-:~rt
of the 111ortgaged Yro~~erty. ~
IS. Any ~greement hereaher made hy 11ort~agur :~nd ~tortK:i~rE~ pursu:+nt to this mort~:~Re ~h:~ll he su~~enor to the~
riRhts ot the holder of any inten•enin~ lien or encumbran~~e.
19. hlortRagor herehy N~ai~•es aU riQM u( homestead exemption, i( an~•. ~n Ih~ ~1orlRaRc~c1 Pmperty-
20. In the event o( condemn:dion proi•erdinRs of ihe Alortgaged ~'n,{.erl~•. the av-:~rd or i~omprn::ition {-:ii~able there-
under is hereby a~~i~ned to and shall t-e ~-:iid to ~lort~aRee. \turiRagee s}wll he under no obligatiun to quc~t~on the amount
o( any such award or com~~ensation and may~ a.•~rp! the s:~me in !he :~mount in which the s+me sh:+ll he N:iid. In am• su~•h
~•ondemnation pr«•cr~dings, !ltortRaRee may t~ rrpn~sc~ntc-d tn• ~.,unsel selertcd Ly \1oriRaRee. The pro~-e~rds of an~ a~ard
or c•om~x~nsation su re~ri~~ed shall. at the option ot \torl~aRee. either be applied to the pmpayment ot ihe tiote and at the
rate of interest pm~•ided therein, re~ardlc~ss u( the r.~tr of interesl {x-~~~ahle on the a~-ard hy the rnndemning authorita. or at
the option ot AtortR:iRee, such aN-:~1 shall Fx~ ~-:~id m~er to A1or1R:iRor tor rr~tor.~tion of the \Iort~aKcd Pn~pert~_
21_ I( :11orIg.~Kre. pursw~nt to a~•unstruction lo:in ,~~reement or luan ~~omm~tment RL"idP I1~' ~~Ofl~:IRP(• N1(}I ~~ON~:i~or.
:~Rrees to make conslruction I~~:in :~d~:m~•es up to th~ prin~-i{-:-1 :+mouM o( the ~ote. then ~(oA~agor hereb}• i-ocenants that it
w•ill comply w•ith all ot the temix, provisiuns :ind ~~~~Pnants o( sa~d ~~onstru~tion loan aRreement or la:+n rnmm~tment. will
diliKently ronstruct the im{,ro~ements to Fx~ t:uilt pursuant to thp tem~s thercr-f, all ot the terms thereof Mh~~h am ~n-
~•or~x~r.stcrl herein hy retere•n~•r .~s th~,uRh ~t lorth fulh• hemin and v-~11 {~ermit no defaults to eN-cur thereuncler and if a cle-
L•~ult sh:~ll ~x•~•ur thereunder, it tihall concUtute a detault under this 11ort~.iKP and the \ote_
22. At the option u( A1ortK:l~,fY'_ ~IOftP,:~~ar chall pn~~ide \1ortRaKee Ni:h ~~eriodi~- rert~fic-t1 :+Jd~tcd .talrments o( the
fin:~nrial condition of Mort~aRor.
23. ~1ortQa~ur repn•x~nts and Harr.+nts that if a i-or{K~r.ihon, it ~s duh~ ory;anisrd ancl ~al~dly rxi:tin~_ ~n Roud stand-
inK. und~r Ihe laws of Ihe~ st:~t~~ o( its in~•or~H~ralinn, h:~s .t~~k uutst:~ndin~ v~hti-h h:~s t,~c~n dul~• :~nd ~:~I~dh• ~: ued. and is
qu.ililied to do busint~s.4 and is in ~~ad ~tandinR in Ihe titate ot Florida. with tull (wv~er and authurih• to .-oa+umrtwte thr
loan ~K-ntempl:~ied hemby: and. if a~-:ir~nernhip, it is duh• lormed ~nd caGdl~- e:isting, ar-c1 is (ullc quaGtird to do bus~ne~s
in the State ol F'lorid:i: with tull (ww~~r and authority to consummate the loan •ti~ntemplated hereby.
24. In the e~•ent ~ny one or more o( thP pro~isions iY~niaincd in thi~ :lfortRaRe or in the \ote shrll tor :~n~ re:~son
Ix~ hrld to ix~ im~alid, illeKa~ or unenfon-~ablP ~n any rr~~ie~-t. su~-h in~alidit~•. illr~.~hty or uncntor,~eahl~t~ Qhall. at the
option o( the ;~tortRaKee. not at(e.•t any other pro~•i~ions o( this \turtRa~e, bul this \IortR~Re sh:d) t~ construcd as i( su~•h
in~alid, illc•~:~1 or unenton•e~:Jrle prr-~~sion had RE•.Fr I~evn cuntaintd herem or there~a The total interest pra~:~ble pursuant
to the \iote or lhis :~tort~:~Re shall nnt in am' ~~nP ~~•ar rx~-~^~-d the hi~hest l:ir-tui r.ite of interrct in the Stafe ot Florid:~_
25_ 7'he i•o~•enaMs :~nd aRrcYments her~in ~~nt.{ineci ~hall Mnd and the trnel~ts anJ ad~:~R17RC3 shall inure to the
nw~~•1i~•e heirs, exttivtnr~, admi~istr.~ton. ~u~Y-c~.curs. :+nd :i~s~~nc of the {-an~es ht~reto ~~'herc-.er used, the sinRular
numtx~r shall im•lude the plural, the plural the sinQular. and the u.e ut an~• ~;ender shall he :~pphcable to all ~enders. All
~rovenants, agrcen~t•nts ~nd unde~rtakin~s sh:ill t-e joint arxf s~-er.il In the e~ent ~dd~tion:d numt~red covenants or para-
qraphs are tor cum•enieni•e inserted in ihis ~1ort~aRe, su~~h addit~onal ~~n~enants ch~ll he mad and gi~en etfert ~~ though
tollow•ing this co~~enant in consecuti~e order.
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