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Home My WebLink About2661a~q-ly au~•h n•~~ts, is.u~K+ und pro(its receiveci hy it un the indehtrclnc~a ~vrrd henby ih~uY~•h upier as' Alo~-~;Ce drter• iuiu~~u. '1'he ~ight to en1Nr and t.~ke ~wxx~~s.iuu of thG 111ortRuKcv1 Pn-~x~Hy, to man:~Ke and o{~rate the ~:~me. apd tta collcrt the re~ts, issu~~a ~~nd pn~lita lhrnv(, whethrr by u nr~eiv~•r or otherr~~ise, aFwl1 I~e cumulnlive lo uny othe~ right or mm~~cly herrunder or attorded by luw, u~d tnay be exen•ixed conrurrnnUy lherewilh or i~dependenUy therrof. Martgs~g~~e shall lie Iii~ble to i~~yhunt only tor xuch rn~ts, isaues i~nd pro(ita aclually receivcrl hy Mortg:,gee. 14. If lhe indeblednesx ~•umd hemhy ia now ar hernatter (urther secured by rhntlrl tnortg:~grx, xi.K•u~ily inteme~ts, (inancing ali~lements, pledges, cunUacta of gu:in~oty, a~.KiKnnu~nts of (euaes, or other sc~vrilies, ar it the hturtgugcd Pro- ~mrty he~by e~cumbcmd consistx of mom than one ~u~nrl ot m.~l pru~-erly, MorlgAgee may nl ils option exhuust any one or more ot ewid arrurilies ~~nd aecurity hereunder, or xu~•h ~w~cels ot the security hereunde~, either concu~rently or inde- ~rendently, and in such order as it mny detrrrnine. urti obligulory or !o lie nu~de vt lhe uption of 111origngec~, or olherwise, aa are made within lwenly ('20) yea~s ~ro ~ hemo(, to Ihe sume eYlent .is if such futum .idr:~nces were mude on the dute o( the ezecution ot lhi aRe, but such sc~•umd indeb/rclnt~ xh:~ll not ex~•~rd at :~ny timc the m:~ximum principal amount of plus inten~f, nnd t~ny disburxments mi~de (or the ~xiymenl o( taxec, levies runce, un the Mortgugctit Pro~mrty, w~th intenst on such disbursements. Any sui•h (utum ndvi~nces, wheth ~ ' n ory or to be made ut the option of the Mortg:+gee, or otherwise, m:~y Im made either prior to or atter th n e of Ihe Note or any other notes secured by this Mortgage. Thi~ Mortgage is given for the sEx~•ific p se~vrinR any and all indebtedneas by the Mortgagor to 111ortg:~Ree 11-ut in no e~•e~t shull the se~•und in ~ e~c exiY~ a~l a~ny lime the maximum princi~ml amount set forth in this ~-:~r.+~r.~ph) in w•hatever manner t' e~tedness may I~e evidrm-ed or repn~~nteci, unlil lhis Mortguge is s:disiied of rrirord. All coven- unts un • menls contained in this 111ortRaKe shall f~e :y~pli~:~ble !o :~II (urther udvam•E~ made hy 14tortRaKee tu 16. No deluy by Mortgagee in exen•ising :~ny righl or rem~dy hereunder, or ntherwise uftordrd hy I:~w, shall u~xrate as n waivcr thereof or prec•lude the excu•ise therc~f during the ~-ontinuance ot an~ de(ault hemunder. No waiver Iw Atortg:~gcr~ of any dc (.iult shall constitute a waiver ot or con~e~t to sul-seyuent de(aults. No failure ot Mortg:~gee to ex~•n•ise any oplion hemin giren to acceler~te matu~ity of the debt hemby sec•ured, no (orixur.ince by Mortg.igee txtore or atter thN exen•ise ot such option :md no withdmwnl nr at-andonment af forec•losure prar~~ing by Morlga~Re~ shall I~e taken or ~•on= stru~d as a wai~~er of its riR6t to exerciae such option or to nereler.ite the maturitv of the debt heieby s~~•ured t~v mau~n of any past, present or future detault on the ~~:~rt ot Mortgagor. .md, in like manner, the procumment o( insuranir or th~ ~h~y- mrnt of tuxes or other liens or charR~~x by 141artRaKee shall not Ix~ hiken or conslru~Yf c~s a K•ai~•er ot ils riKht to :i~•celer.~f~ the maturity ot the del-t heml,y se~•un•d. 17. Without a(fecting the li:~i~ility ot btortg~gor or any other ~mrson lexmpt :~ny ~K•rsun expressly n•Ieasec! in writin~) tor {-ayment of any indebtedness se~vred hemby or for performance nf any obligation contained hemin. :u~d without :~1(e~•t- ing the rights o( Mortgagee with res~•t to any se~•urity not expreswly released in writing. ~tortRaRec may, at :my time and irom time to lime, either (~efom or after !he malurity ot said notr, and without noti~•e or ~-onsent_ ta) Release any ~-erson Ililf)IP (or ~z~yment of all or any ~~:irt of Ihe indebtcvlnecti i~r for ~x•r(ormance u( any obliRat~u~. (b) N.~ke any aXrc~rment extending the time or othervvise xlterinR the terms of ~~:iyment of :~11 or :~ny {-:~rt of the indebtedness, or modi[ving or waivinR any oblig:~lion, or suF-orclinating, m«ii(yinR or othervrise dcaling v~•ith the licn or charRe 6ereot. (c) Exen•ise or refn~in from excmisinR nr w:~i~~e :~~y riRht A1ort~~R~r m~~y h:~~~c. (dl Accepl additional sec•uritv ot any kind. ~ (e) Relr,~ae or othervvise deal with any~ pm~~erly, real or ~~ersonal, securin~ the indebtt~ness, ini•IudinK all or :~ny ~~:irt of !he Mortgaged Pmperty. 18. Any agreement hereafter madr by A1ort~:~Kor and ~1oriR:iK~~c~ pursu:uit lo this murtR:~Ke shall IM su{x•rior to th~ riKhts of the holder of any inten•eninR lien or ~•ncumbr.~ni•~~. ly. I4lortgaqor hemby vvaivc~ all riRht o( homestead ~~xemption, if any, in thc lllortKaK~rl i'ro{x~rty. 20_ In the event of condemnation pro~•eedings of the MortR:iRed Pro~x~rty, the .~ward or com~mnsation ~H~y:~ble therc~- under is hereby ;~sKigned to and shall t~c {~id to Alortgagee. 1~lortgaKee shall be under no obl;g:ition to question the amount of any such award or com~~ensation and may acmpl the s:~me in the amount in whieh the same shall t-e paid_ In :~ny such e~ondemnation pr«~eedings. 11iorlRagee m:iy be representc~d Iry ~-uunu~l xlectrd by rlortgagee_ The prrxrecls of :~ny :~w•ard or com~~ensation so received shall. at the option of MortQagee, either im applied to the pre~~ayment o( the 1\ote and at the rate ot interesl pro~•idcd therein, mKardl~:xs of the rate of intemst ~-:+yalrle on Ihe aw•ard by the condemning :~uthority, or :d the o~ition of 111ortRugee, sui•h :~w~:~rc! shall {x paid o~•er to hlurtgagor for restoration of the Atort~:~Red Pro{~erty. . 21. If Mortg:~R~~a, pursuant lo a~nnstructiim I~k~n agrE~c•ment or loan ~•ommitment m:~de by IUortgaRee with Alorig:~~or, :~Rrees to make conairu~•tion lo.~n .idv.~n~~ up to the prin~•i~x+l amount ot the Nute, then A(ortgaRor hemby co~~enants that it will comply w•ith all uf the terms, pro~isions and covenants o( s:iid construc•tion loan a~reement or loan ~•ommitment, w•ill diliRenUy construct thr impro~•ements to I~ huilt pursu:~nt to the lerms thereof, all of the terms therErof which are in- .•or~N-rated herein by m(erencr as though set torlh (ully hemin and will ~~ermit no defaults to occur thereunder and it a de- fault shall o~rur thereunder, it sh:~ll constitute a rlefault under this MortgaQe and the Note. 22. - At the option of MortRaRec~, 111ortRaKor shall pm~ide MortKaRee with ~~eriodic certiliecl .~uditeci stalements of the (inancia) cY~ndition ot AfortR:~Ror. 23. ~forlRaRor repnwent~ and w.~rrant~ that i( :~ cor{wr.dion. it is duly orRanized and ~•alidlV existinR, in Rood stand- ing under the laws ot the sfate o( its incor~-oratinn, has st~•k outstanding which has txrn duly and ~:~lidly issued, and is yualified to do businc~ and iti in ~uod ctandinR in the St:~te ~,( Florida, w•ith full ~wwer :~nd :iuthority to ~•onsumm.~te fhf~ lo:~n contemplatecl here-by: and. if a ~~:irlnersh~p. it i. duly (orm~d and ~~alidly existinR, und is fully qualified lo do business in the State o( M'lurid:~: w~ith tull ~x~wNr and authority to consummate Ihe loan contemplatecf hemby. 'l4. In Ihe e~•ent .~ny onP or n~ore of the pro~~iKions c~-nt:~ined in lhis 1lfort~age or in the l~iote shall for any reason IK hrld to i~ im:~lid, illeKal or unenfun•calrle in any ms~rir•t, surh im:~lidity, illegality or unen(orceablity xh:~ll, a! the• optiun of the Murtg:~gc~, not afte~•t any other pmvisions o( this AtortRaRe, but this I1'lortRa~e sh:dl be construc~l as it sw•h im:~lid, i1leKa) or un~•nfor~•eahle pnnision had ne~~c•r I~ecn cc~ntainc•d herein or themin. 'fhe total interest ~h~yable pursuant lo the Note or this AtortK:~r~~ shall not in :~ny onP yt~ar e~x~•eYYI the hiRhest law(ul r.~te of interest in the State of Florida. 2ri. 7'he i•o~enants and agrc~ments herein ~•unt:uncrl ~hall bind and the Ixne(ita and advant.~ges ghall inure to lhe ms{~•tice heirs, exe~•utors, adminislr.~ivrs, successor.c, and :~~signs o( the parties hereto. Whemver used, the sinRular numF~er shall includc the plur.d, the plural Ihe sinRul:~r, :~nd the uu~ o( any Qender qhal) IM appli~:~blc to all Renders. All co~•enanta, agreements and underlakinga shall I~e joint and se•ver.il. 1~ lhe e~~enl additional numbere~ cm•en~nla or ~h~r~- qraphs are (or com•enience insertc>d in this A1ortK:~Re, cuch additional ~-o~enants tihall 1-e read and Riven e(te~•t ~s thouQh following this co~•enant in ~onsecuti~r order. 3- fi .~34? Fa~t~54 ~ ~ ~~ ~ - - r-- -~~ ~_,..~--~,-~5 ~.,. _. ~ ~ v ~~q~ ~ ~~~