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Home My WebLink About2228a{~ply su~•h mntr, ~+,u~~s :itic: pn-fitR n~•Piv~~1 1-y il u~ Ihe indrl-t~•dn~sx wr•un~) hen•I~y in xuch onl~r :~v lUorlKaK~~~ d~di•r m~ni~ss. 'fhe riKht to ~ml~~r and lakr ~x„~._~,ioi~ ut the Ator~K:~K~vt 1'ro~Krty, to man:~g~• :~nd o~x•r.~ti• ih~• x:~ni~. :~nd to i•uUivl the ~nts, ixvu~~x :~nd pn~lils thenwt, whethrr by a ~e~river o~ olhen~rixe, ah:~l) !,e .umulati~•~ tu uny othe~ riKht u- mm~vly h.•reunder u~ u((urde+! hy luw, and muy IK• ex~•rciscd cL~n~•~~rmntly lherewith or inde~xmd~•~dly then~,f. 111ortKaKc~~ xhull i~e iu~l~le to ui•count oniy for sui•h nnts, is,u~Nz :~nd pn,lits ai•tu:dly rc~rir~d hy I11ortK:~K.••. 14. It the ind~•bt~~lnes~ ~vunv) h~•ml-y ia niwr or herr:~ft~•r furlhe•~ ~xr•unvl by i•h:~tlel ~nurtKaK~~, u~~•urity iM~rcrts, IinancinR stuten~euts, pl~tilKrs, contrc~~•ts ot ~uar.+nty, as+iknm~•n1s ot lt.~w~. or oth~r +~~•uriti.~s. or if Ihe Murlg:~R~rl Pm- ~x•rty hemby rncumlK~ntil ~•onsists ot mum th:~n one ~u~n•~•1 of n•:~1 pro~x•Hy, I~lortg:~g~r mtry ut its option exh:~usl :iny um• or mom ot w~id s.~•uritias :~nd s~YVrily hen~under, ur sui~h ~-:ucels of the sei•urity he~under, eilher ~•u~cu~mntly ur indr- ~x•ndrntly. und in su~•h ordt•r :~a it me~y dctrrmin~•. i{+. . . . . - • • - um obligatory or to Ix~ madr at !he option o( 111ortK:~Kir, ur oth~•rwise. as :~rn nu~de within Iwi~nty (20) om the dat~• hi•re~-f, to the .r•ame extent as if such (uturn tn::an~~w wen• made on the d:~te ot th~ ezcvutic-n s 1~lortguK~•, but su~•h w~a•unYl indebt~~in~:~ shal) not i•xca.~~) at :~ny tim~• the m:~xinwm princi~hd amu plus inten•st. :~nd any disbur~n~ents made (or th~~ ~hrynu•.^.: nt taai~s, It~ :. ~nsur.~n~•~•, un the 111urtK:q;~Kl Yrn~~rty. with ~ntE•nwl un such dishursrments. Any su~•h (utorc= .::lv.~n+•~•s, w o~lix•~tory o~ to IK• made :d th~• option o( the 111ortK:~K~v. ur oth~~rvriu~, may iK mad~• eith~•r {~rior !o or attrr e date uf th~ Note or any other not~s u~•un~l by this ~1urt~;aKe. '1'hi~ AtortKuge is given for the s~-cr•ifii• .• ot styurinK :mr :~nd :~11 indt•btE~clorsti by thr :~1ortKaKur to A1orIg.~KeY• Ibut in no t•cent ch:dl th~~ ur~unri i nesc ex~rec! ~I .~ny timt• thr ~n:~ximu~n princi{u~) a~m~unt u•t (orth in th~s ~r.~r.~Kr:~~,hl ~~~ whatc~~c•r manne~ c e~ictilm~sc m:ry iM e.id~~n~-c~l or n•pn:+~•nt~•d. until this 1~tort~;:~K~• is s:dis(iivl of nr•ord. A4 ~•nvf•n- :iuts :+nd • ments i-untainctil in this AtortK:~K~• shall tK~ a~-pli~•aLli• tu :~U (urthi•r ad~:~n~•~~s m:~d~• hy MortKaK~~• tu 16. No delay by MortgaRee in ~•xercising uny ri~;ht or rc•~n~~ely hemunder. or othrna•ix atford~vl by I:~w, shall u~K•r;~ti~ a. a w.~iver thercti,f or pnvlude thi~ i•x~~rciu• th~•nK~( durinK lhe ~'ontinu:~ni•e o( :~ny det:~ult h~•n•und~•r. No w:~ivrr hy l~lort~;ager of any de•t:~ult sh:~ll cunstit~te :~ wai~~er ut or ~•uacent to sut~s~~yuent deG~ults. No (ailure of 11urtK:~K~r to i•xi•n•iu• any oplion h~~min Ki~•en fo a~•c~•lerate maturity of the d~bt hen•by sei•unY1. no (~rlx:~r.~n~r by 111urtKaKtK• IK~fort• ur :d1~•r Ihr c~xer~•ise uf su~•h opiion :md no Nithdr.~N•al or al~:+ndonnx•nt u( (en~•lusurr pr~K•~rY1inR by 11lortRaK~ti• shall i~ taken ur ~•on- stru~d :is a w.~i.•er o( its riRht to exen•isc~ surh option ur lo a~•i-~~If~nti~ th~~ m:~tunty of the debt h~•mby uti•unYl by rr:~u~n ut :~ny past. pmsrnt or futum ~i~~(ault on the ~~:~rl o( :1lurtkaKur. and, in lik~~ m:~m~er, the ~-rmvrement u( in.uranr~• c,r the ~-:ry- ~m•nt ~~f taxes or other li~~ns or .•ha~K~~ by 111ortKaKir ch:ill not !K• t:~k~n or ~•onstru~~.i :~s a aai~~~•r ot its nkhl tu a~•~•~•ler.~t~~ thc~ maturity ot th~• dc~bt h~•rch~• u~•urc~i. ' 17. \Yithuut :dfccting thr liahility u( :~'IurIK:~~;or ur :+ny oth~~r ~K~r+~~n It•x~•~~pt an~~ ~K•rwm ~•x~-n:t+h• rc•I~~:~+rcl ~n w•nt~nR) (or ~~:~pmrnt ot any indi~btt~lnc.ti u~•ur~K~ herc•by or (or {K~rlormam•e u( :~ny ohliKaition ~~nlainiYf h.•m~n. and w~thout alt~•~•t- inK th~• riKhts of 1~1ortRaKee with res~Kti•t to any s~ti•urit~• not expm~sly rel~:~s~til ~n writinK. MoHKaRc~c~ may. at :~m• tim~• and irr~m tiinr to time, ~•ithe~~ I~dori• or atter thi• m:durity o( s:~id noti~.:md withuut nnti~•~~ ~~r ~•onu•nt: la) 12rl~~ase uny ~k•nu~ liabl~• tor {-:~yment of aU or any ~iar1 u( th~• ~nd~•~~~kNlfll•ss or tor ~N~rfnrman~•~• ut any ubl~Katiun. Ib- A1ake .~ny aKnynu•nt ~•zl~ndinK the tinu~ or athen•isc• altc•nn~ lhe ternu o( ~wY~~~~•nt of all or any ~wirt o( thr in:le~ht~~eln~~as, ~~r m~xlilyinK or wnivinR :~ny oblikatinn. or sutw~rclinatinK, m«lilyinR or oth~~n~-~ix• d~:~lin~ vc~lh thc~ li~•n or i•har~;f• hrreof. 1~•- Exen•ix~ or refr.~in Imm ex~~r~•isin~ or waici• :~m• riy~hl ~1urtK:~Kw• may h:~~~•. Idl Ac•i•ept adiiitiunal ~ti•urit}• o( am• kmd. It'1 Rel~:~u~ ur othenvis~~ deal with any proEx•rly. n:~l or ~x-rsonal. +c~•uring thf• indebt~Ylnccc, ~m•Iud~nK all ur am• ~~arl uf the A1ori~aKec1 Ym~~erty_ . IK. Any :~KnY~nent hcmaltt•r madc by Alurtk:~Kur :u~d ~tort~:~K~~r ~,ursu:~nt tu this murt~;:~k~• sh:~ll 1~> >u~x•rior t~~ tht• riKhts nt thi• hold~~r o( :~ny inlen~~ninK Gen ~~r ~~ncumhr.~nr~• 1S-. :11ortR:~Ror herebi w:~i~~•s all riRM uI hom~~ct~•ad rxf•m{Ninn. ~t :~m~. in th~~ ~1nrtR:~k~~1 Yru~x~rty'. 20. In the e~enl o( i•ondemr.at~on ~~roi•~~c~linKs ~-t ti~a• 11urtKaK~Ki Pro~~•rf~•, the• award or ~~um~x~nti:~tion pay:~bli~ the•re- under is hereb~• ;~ss~kne~cl to and sh:Jl IK ~r.~id to AturtKa~t~c•. ~1oriK:~Rt'~• shall IK• under no ob1~KaUun tu yue~stiun the amuunt uf an}• surh aw~ard ~,r ~•om~xnxition :~nd m:~y a~•~•~'pt thf• v~m~ in !he :~mount in which th~ vim~• sh:~ll t~• ~~aid. In any su~•h ~~ondt•mn.dion pnM•cK~dinKs, 11~~rlkaK~~c- may Ik~ n•pn•scnt~rl I~v ~•uun~•1 ~•Iw•h~1 t~~~ \tortKaK~~~ Th~• pn~~~ti•ds uf am~ aw:~rd ur ~•omEx•n~.~tion .u re~-ei~cY! ~h:ill. :d th~ option o( ~1ort~;:~~;er~, eith~~r Ix• appGcY1 to th~~ prep:~yment of the Nute and at thc~ r.~tr of inte•rest pm~idEY1 th.~min, n•Kardlckti ui th~• r.~te uf iM~n~~t paY:~hli• on thr a~:ird by the ~•undemninK :+uthnrit~, or at thf• option of ~1urt~;aKc~c. cue•h :iw:~rd ~h:~l) IK~ paid o~~~r tu \1ur~~;:~k~~r I~~r n•.tor.d~on of th~~ 11ortKaR~~1 Yn~~~rt~•. 21. if :~1ortKaK~~•. pursuant tu a~ unslructiun Inan a~;n~•ment ur luan ~~~rtnmdmenl made ir~• :11ortKiKcr with ~1ortQnkor. :~~rE~c~s to makP ~•unsfru~~ti~~n lu:u~ :~d~:+n~•r, up to th~• prin~~ipal :~muunt nf th~• \ut~•. Ihen 11urtKaKor ht•rrby ~Y~v~•nants th:it it wil! ~~ompl~~ w~th all of the~ t~•rms, prn~is~ons ;~nd ~•u«•n:~ntti ot s:iid ~~onstrurhun lu:~n :~~-n~~nent or loan ~-omm~lmrnt, H•~I) d~liKenlly cnnstru~•t fh~~ impro~•ements to tK• built pursu:~nt to th~~ tt~rms thf•n~t, all o( the lerms therc•of .+hi~~h art• in- ~•or~N~rat~K1 ht~r~•in by nderen~•~• :~s thouKh c~t torth fulh' h~~min :~nd v~ill Ex~rm~t no det:~ults to ~x•~•ur tht•n•und~r .~nd i( a ue. i:wii sh:;ii ~N•~•ur thf~rrundi•r, it shall ~•onstitut~ :i d~•L•~ult undi~r this :~1ortKaRi• :md thc• NotE~. 'L'2. At the u~diun u( ~turlK:iKtti•, ~1~~rtk:~kur sh:dl ~~n~~ide ~tortK:~R~k~ w~th ~~ri~Nii~• r~•rtifi~•d :+fidit~f stat~•m~~nts of th~• f~nan~•i.~l rondiliun ot ~1urtKaKor. 23. ~1urtKa~ur n•pr~:u~nts :~nd Harr.~nt~ Ihat if :~ ~•ur~N~r.~h~rn, it is duh• ork:~nu.~~l :~nd ~:~lidh~ ~•xistinK. in ~~NK1 stand ~nK undrr thi~ la~+s u( thr st:~t~• uf itti incur~Kiratinn. h:~s tito~~k outsl:~nd~nK wh~~•h h:~s IMti•n duly and ~ahdly ~+tiu~~d. and is yuali(i~~d tu d~~ businr~s :md is in K~xxl .tand~nR in thc~ titatr• of i~'lon~i:~, K~ith tull ~wwrr and authority to ~•omummate thr lo.~n ~•nntempl:~ted hc~n•b~: :~nd, if a p:irtn~•rtihip, it is ~lulv form~Yl :~nd ~:~hdly PzicfinK, and is (ullt yuahfied to do husine~s in th~~ titat~~ ot Florid:l: K'11F1 ~UII lN1K'f•r and authoritv to ~•unsumm.it~~ the I~an i•nnt~•mpiatcYi hcrrhy- `l4. In th~~ r~•t~nt any one or mor~~ uI th~• pro~~~inns i•untaiucd in this ~tortRaRe ur in the ~ote shall (or any re:~sun tN• h~~ld to I~• im~aiid, iUeR:d or unenforct:~blt• in :~ny r.~s~x~~•1, su~•h im:llltldY. IIIP~ality or unenforceahlity sh:~ll, at th~ ~pti~~n of tht~ ~1ort~:~R~~~, not :~U~~~ t any othc~r pro~isinns ~~( this ~1~rtRaki~. but thi~ 1fortKa~;~~ sh:~U I~e ~onstrucd :~s it w~•h im:Jid. ~Ile~~;al or un~~nf~,r~~~:~hl~~ ~rroc~tiion h:id nF~t~r tK•~•n ~•oMaini~d hi•re•~n or Ihemin. "1'he total interest payabl~ pursuant lo fhc~ N~te or th~s \1ortK:~Kt~ ~hal) not tn ane ~~ne ~f:ir ~•x~•~•~•~) th~• hiKhc•st lav-•(ul r.~te of inten~cf in the State ~~t Fl~rida. '~~r. The ~-u~en:~nts :+nd :~Krerments hPrc•in ~•nnta~n~~l .h:ill bind and the iN~nf•Ii1s and ad~•:int:~~~~s sh:~ll inurP to th~• mx~k•+•hct~ h~irti, e~xe~vtors. :idm~ni.lraturs, tiu~•~•~•su~rc, and :~`c~Rns nf the ~-:irtitw hen•to. ~Vhere~c•r usc~i, the sinQular numl~r sl-:J) ini•lud~~ thr ~-lur:~l. the plur:+l thi• sinQul:~r, and thF use~ u( :~ny Ri•nder sh:ill ix~ ap~rlu'abl~ to all Kendrrs. All ~•o~t~nanlx, aRn.rmc~nt~ :~nd undPrtakinRs shall tM joint and s~•~•~r.d. In thr i~vrnt addilional numt-er~Yl ~~o~•enantc nr ~~ra- graphs arv (or com~rnif~n~•~ insertecl in Ihis ~1urtQaKc~. ~u~•h addihonal ~~o~rnants shall t-e read and Kiv~~n ef(eot ac though follov-•~ng Ihia co~•en:~nt in ~•onse~uti~~• ~rder. 26. Mortgagor shall first obtain the written consent of Mortgagee prior to the conveyance of the Mortqaqed Property to a third par~y. It is specifically understc~d that failure to or withheld at obtain such written consent of 6lortgagee, which consent my be ~ranted ~ i'. /?1 the sole discretion of Mortgagee, shall constit te a default hereunder. r.~.'~J~~ F!I~~~ -,.•_~