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Home My WebLink About0445apply xuch renta, ixsu~n- and ptofits receivc*d by it un the indebtednesa xc~•umd herehy in auch ord~•~ us Mortga~g~~c d~~ter- minrx. The right to enter aind tnke ~-o~x•ssiun o( thc MorlgaKcvl Yro~~rrty, to manaKe und u~~rute the s:~me, i~nd to collcr•t the renta. issues a~nd pmlita themot, whether by a receiver or otherwiso, ahs~ll !x+ cumult-tivo to uny other rigM or mm~rly hvreunde~ or ntfordc~cl by luw, a~nd rru-y ~~e e:en•iaed co~curnntly lherrwith or inde~mndenUy then~-t. Mo~tgugee ntudi be lia~ble to nirount only tor such ~rMs, iavuex und pro(itn ~~~•tu,~lly recriv~vi by Morigug~~e. , 14. It ihe inde6teclness ~•urti~d hcreby is now or hernutter further aecured by chaUe) mortgegee, :K~vrity interesta, (ini~ncing atutemeni8, ~-ledgea, conlructa of guarunly, a~+ignmenis ot leaxea, or other securities, or it the Mo~tKuKed Pro- {xrty hereby encumbrred consists o( morn lFwn one ~k~nrl o( real pro~x~rty, Mortgngee nuiy ut its oplion exhuuet uny one or more ot ea~id sec•urities uod aecurity hereunder, or su~•h ~u~rcels o( the sc~•urity hemunder, cither c~~ni•urrrntly or inde- ~iendently, nnd in suc6 order t~a it nu~y determine. 15. Thie MortR~ge ahnll secure not only exisling inclebtedness, but ntso such (utum ndvuncrs, whether suc•h :~d~•uncea iire obligutory or to !~e made nl the option of Mortgugee, or otherwise, i~a nre mnde within twenty (p) yea~a tmm the d:Ue henwf, to the aame eYtent us it such tutum t~dvami~ wem macle on the da~te of the e:ec•ution of this Mortgi~gr, but su~•h ~•urc~l indebtcdnese shull not ex~~rd .~l nny time the maximum prinri~Nd umount of S plus interest, »nd any distrursements mude tor the ~k~ymenl of taxes, levies, or insurnnir, un the M~rtgugrd Yro~xrty, with intemst on such disbursemenls. Any such (uture advan~rx, whether ul-lig:itory or to lie made at lhe option of the Mortguxc~e, or othenvise, may be mnde either {~rior to or atter the due date of the Note or nny other notes secured 1-y this MortgaKc. This MoHgaRe ia given tor !he specific pur~wse o( securing smy and ull indel-tedness by the MorigaRor to Morlgt~~ee (but in no event ~hall the ~•unrcl indebtednes~ exceecl at any time the muximum prinripal umount set torth in this ~~:~r.~xr.iph) in wh:~ter•er m:~nner this indebteclness muy I~e eviden~~~c! or repmsented, until ihia Mortgage is satisfied ot rerord. AU c~ven- .~nts and .~gmements contained in this 111~NgaKe sh:Jl I~c appli~•ahle to aU turther advuni~~ m:~de by MurlgaRcr to 11forlR:~gor under this tuture adveimr cluuse. 1G. No delay by 111ortgagee in exen•ising i~ny right or mm~~cly hemundrr, or otherwise ~f(ordeci by law, shall o~~er.dc us a wFiiver thereof or preclude the exercise thereo( duri~ig the i~onlinunnce o( :+ny default hemunder. No waiver by Atortgugee ot uny dett~ult shall conatilute a w.~iv~r ot or ~^onsent to sut-si.~yuent defaulls. No (.~ilure of Mortg:igce to exen•isc• any option herein Riven to acceletute maturity oi the debt hereby secured, ne torl~e~rance by Mortgagee beforn or nRer the exen•ise of such option nnd no withdrnw.~l ar al-:~ndonment of torcK•losure pr«-eeding hy Mortgagee shall I~e tuken or i•on- slrucd as a waiver of ila right to exerciee such option or to ~~~celer.~te the m.~turity of the debt hereby secured by mason of :~ny ~kist, prc~ent or fulum default on !he ~x~rt ot 111ortgagor, a~nd, in like m.~nner, the prrx•urement o( insurunce or thc ~k~y- ment of ta:c~s or other liens or ~•twrges by AtorlKuRee shall not t-e tuken or constnic•cf :~s a w:+iver of its ri~M to a~•~•eler.d~ the rrudurity o( the debt hereby scc•urecl. 17. Without a(fecting lhe IiUbility of Mortgugor or :my other ~~erson fex~rpt s~ny person eYpmssly releusrd in writ~nR) tor ~k~yment of ~ny indebteclnes4 s.r•urc~cl hemby or tor ~mrform.inre of any utrliRalion rontained hereio, and without :~(tcrt- inR the rights of 114ortgagee with res{x~•t to any se~•urity not expmssly rrleased in writing, MortgaRce m~y, at :~ny time and fmm time to time, eifher I~etore or atter ihe maturity of s.~id note, ~nd without noticc or ~mnsent: (a) Helease any ~x•rson li~l~le for {k~yment ot al) or any ~k~rt of the indebtedmw.-s or for pe r(~~rman~•e of :~ny ubliK:dion.' tb) Mnke any agreernent extendinR lhe time or othen+•ise alterinR the terms of ~myment ot all or any ~-art ot thN indehtedness, or modi(yinR or w:~ivinK any o1-IiRation, or subortlinatinR, modilyinR or oth~nvise dealinR ~+•ith the lien or ~har~;e hereot. (c) F.xercise or refr.~in trom exen•ising or waive ;~ny riRhl A1ortK:iR~r may h:~~•e. (d) AiY•ept addition:il se~vrity of any kind. (e) Kele.ise or otherv~•iu~ deal with :~ny ~-ro{~erty, m:d or ~~ersonal, sec•urinR th~ indebtedness, includinR :JI or ~ny ~~:~rt of the htortgaged Pro~~erty. 18. Any aRreement hen:~(ter made by MorlKaKor and \1ortRaK~e pursu:~nt to thi4 m~~rtRaR~ sh:~ll IK• su~~rior to thi~ riRhts of the holder of any intervening lien or eni•umbrnnce. • 19. MorigaQor hereby wai~•es :~11 riKM of homeste:id i~xemption, if :~ny, in th~ MortKaRecl Pm~x~rty. 'l0. In the e~•en! o( mndemnation pr«•ec~lings of the 111ortgaRed Pru~~crty, the .IW:Ii(I or com~-ens:dion payable there- under is hereby assiRned to and shall t~e {wid to A1ortgagve. Mortg:~gce shall lie under no obligation to question the amount of any such .~ward or com{iensation and may ~ceept the s:~me in the amounl in whi~h the xame shall F~e ~k~id. In any such rnndemnation proecrdings, A1ortK:~Ree may he mpn~entMl Iry ~•ounsel ~le~~ted by A1ortR:,Rcr. The pme•cr.ds oi any :~w:~rd or com~nsalion so re~rived shall, at the option of MorlRaRee, either be applied to the pre~~yment of the Note and at the r.~ic o( intrrest ~~mvided therein, reg:~rdlesK of the r.de of interest payablr on the award by lhe condemning :wthority, or at the oi~tion of MortRaRee, sui•h avrurd shall 1-e ~-:wid over lo A~or1R:~Ror 1or n~storation of the 1lortKaRed Yro~~erty. 21. I( ~ioriK:~Kee, pursuant to a cunstruction I~x~n :~xreement or lo:~n comm~tment made by Mortqagee w•ith A1orlKaRor, aRrees to rruike conslruction la~n :~dv:~n~•es up to the prini•ipal amount ot the Note. ihen Mortgugor hereby r-ovenants thnt if wiU comply with all ot the tertna, provisions and co~•enants ot s:~id construclion loan a~reement or Icxin rommilment, will diliRently construct the improvements to be built pursuant to the terms thereof, all of the ferms themof which are in- ~~ory,o .it~d herein by mterence aR thouRh get torth (ully herein and will ~~ermit no detaults to occur themunder and il a de- (ault shall occur thereunder, it sh:ill constitute a deL•wlt under lhis :~lortqage and the Note. 22. At the option of blortRaQcr, MortgaRor shall pmvide AlortgaPee with ~~eri~-dic ~~ertiticYi audited statements ot the (innncia! condition of MortQaRor_ 23. :~tortg.igor represents :~nd warrants that if a~~or~wr.~tion, it is duly orKanizi~d and validly existinR, in good atand- inR under the laws of the state~ of its incor~x~rafion, has stw•k outstandinR whii~h has bcen duly and ~:~lidly issued, and is qualified to do business and is in good standinq in the State of Florida, wifh tull ~~ower and authority to consumm:~te the lo:m coniemplated hereby: ;~nd, it a ~kirtnership, it is duly (ormed and validly existing, and is tully qaalificd to do business in the State ot Florid:~: with ful) ~wwer and authority to consummate the lam contem~~lated hereby. 24. In the event any one or n~ore ot the proviwions i•ontainecl in this 1~lortgage or in the Note shall for any reason I~ hrld to be invalid, illegal or unenforceable in :~ny re~~xK•t, such imalidity, illegality or unen(orceablity ahall, al the option of the 111ortKagee, not aftect any other pm~•isions of this l~lorlgaRc, but lhis :~lortguge shall be construed as i( such imalid, illcKal or unenfor~•eable provision had ne~i•r tx~en i•ontained herein ur themin. The lotal interest payable pursuant to the Note or this DtortK~~Ke ah.~ll not in nny one year exi•~rd ihe_hiKhest lawful rate of interest in !he St~te of Florida. 2ri_ The ~•ovenants .~nd :~grrements herein cont:~ined chall bind and the I~enefitg and ad~~antages shall inure to the r.•s~xrti~•e heirs, e:ecutors. :~dministrators, succc~.wrs, :~nd .~,siRns ot the ~~:+rties hereto. Wherever used, the singular numi~er shall include the plural, the plural the dingular. :ind the uae of any qender shall be :~pplic~ble to all genders. All covenanta, agreementn and underlakinqs shull t~e joint und several. In the evenl :~dditionsd numbered covenanta or para- qraphs are for conrenience inserted in this hfortgage, such additional co~•enants shall be read and gi~•en etfect as thouqh following this covenant in consecutive order. -3- ~~',x35~ ,~,,:f 445 ~ _ ~ ~ ~~~ _ _ : _ .~ . - ~ _. ~ . _ : , . ~~:~ _n : : _. _ _ _ :~