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Home My WebLink About1666apply such rents, is,u~~ und pro(its received by it on the indebtednes~ aecured herebq n such or~ ~~us Mortgugee drte~- minrs. The right to enter nnd tAke ~w~~ioo ot ihe Mortgugcd Properly. to manuge und o~~ernte lhe aiime, and to collect the rents. issuc~x and pro(its theceof. whether by n recriver or otherwise, shall be cumulntive to any other right or remedy hereunde~ or nttorded by law. and may be exen•ised concurrently therewith or independeMly thereot. Mo~tgugee ahull be linble to account only tor such renb, issues a~d prolits aclunlly received by Mortgugee. 14. It lhe indebtednesa secund hereby is now or hereutter tuHher eecured by chuttel mortRages, secu~ity interesta, (inum•ing atatemenls, pledges, contrncls ot guarunly, usvignmenta of leuaes, or othe~ securities, or if the MortgaRed Pro- perty hereby encuml,ered conaista ot more thnn one ~x~n~el ot real properly~ Mortgagee may at its option exhuust nny one or more ot suid securities und security hereunder, or suc•h ~wrcels of the security hereunder, either concurrently or inde- pendently, und in such orde~ as it mt+y determine. 15. This Mortgage ahnll secure not only existing indebtedness. but also such tuture advances, whether such ~~dvancea are obligatory or to be made ut the option ot Mortgugee, or olherwise, as ~+re made within twenty (20) yea~s trom the date hereot. to the same extent us it such (uture advances were made on lhe date ot the execution n~t~his MortgnKe, but such secured indebtedness shall not exceed at any time the maximum principai amount ot = plus interest, und any disbur~ements made tor the puyment o( taxes:, levies, or insurance, on the Mortgaged Property, with interest on such disbursementa. Any such (ulure udvances, whether obligAtory or to be made at the option o( the Mortgngee. or otherwise, may be mside either prior to or atter the due ds~te of the Nole or aoy other notes secured by this Morigage. This Morigage is given tor the specitic purpose o( securing any and all indebtedness hy the Morigagor lo Mortgagee Ibut in no event shull the secured indebtedneas exceed at nny time the mxximum principal amount set [orth in this parngraph) ~n v-hateve~ manner this indebtedness mny t~e evidenced or represenled, until this Morlguge is sntis(ied ot record. All coven- ants and agreements contained in this rlorig.~Re shall he applic~tde to all tuHher ndvanrns mnde by Morlgngee to Mortgagor under this tuture advaace ciause. 16_ No delay by Mortgagee in exercising :iny right or remedy hereunder, or othemise af(orded by law, shall u~~erate as a waiver lhereof or prerlude the exercise thereof during the continuance of nny detaull hemunder. No w:ii~•er i-y Mortgngee o! any defuult shull rnnstitute a waiver ot or consent to subseyuent defaults. No tailure of Morlgagee to exercise any option herein gi~~en to accelerate matu~ity of the debt hereby secured, no torbearanee by Mortgagee I~etore or atter the exercise ot such o~ition and no withdrawal or abandonment of forrclosure pr«~eeding by Mortgagee sh:~ll be tnken or ~~on- strued as a waiver of its right to e:ereiae such option or to acceler~te the malurily of the debt hereby secured by mason of any past, present or tulure de(ault on lhe part of Mortgagor, and, in like m:~nner, the procurement ot insur.im~e or Ihe p:~y- ment o( taxes or other liens or charges by Mortgagee shall not t-e t:~ke~ or construed s~s a w~iver of its right to accelerate the rrwturity of the debt hereby sec•ured. ., .~ 17. Without at(Erting the liability of Mortgagor or any other ~~erson lexce~~t any person ex~~ressly rele<+sed in writing) for paymenl ot any indebtedness secured hereby or tor perfornk+nce of any obliRation contained t~erein, and without a(fect- ing the rights oi Mortgagee wilh res~~•t lo any secvrity not expre~ly mleased in writing, Mortg~Ree may, at any time and (rom time to time, either betom or aiter tlx~ maturity oi said note, and without notice or consent: (a) Release any ~~erson liable for p:~yment ot all or any ~~art of the indebtedness or for performance ot any obtigation. (b) Make any xgreement extending the time or otherwise altrring the terms of ~~ayment of all or any part of the indebtedness, or moditying or waiving any oblig:ition, or suhorclinating, m«iifying or othcrvvise dealing v-ith the lien or charge hereof. (c) Exercise or refr.sin from exercising or wai~~c any riRht MortRaRer may ha~•c_ (d) Accept additional security ot any kind. (e) Rele~se or otherw•ise deal w•ith :~ny property, real or ~~ersonal, securinq the indebtedness, including all or any ~k~rt ot the Mortgaged Property. - IS. Any agreement hem:dter made by I1lortgagor und MorlRa~ee pursuant to ihis mort~a~e shall he su~~erior to the riRhts of the holder of any intervening iien or encumbrance. 19. Mortgagor hereby wai~~es all riRht of homestead exemption, if .iny, in the Mortgagcrl Property. Z0. In the event of i•ondemnation ptoceedings of the Mortg:~ged Yroperty, the award or com~~ensation ~~ayal-le there- under is hereby assigned to and shall be ~~aid tu 111origagee. Atortgagee shall t~e under no obligatiun to question ihe amount of any such award or compensation and may ac•cept the same in the ~mount in which the same shall be ~~aid. In any such condemnation proceedings, Mortgagee may be represented iry counsel selected by l~iorigagee. The proceeds of any a«ard or compensation so received shall, at the option of Mortgagee, either be applied to the prepayment of !he Note and at the rate of intcrest pro~~ided therein, mgardless of the r.~te of interesl payable on the award by the condemning authority, or at the option of 111ortRagee, such award shall be paid o~~er to AlortgaRor for resloralion of the Mortgaged Pro~~erty. 21. I[ 1ltortgagee, pursuaM to a i~nstructi~-n loan agmement or lo:in commilment m:ide by Mortgagee with 11'lorigagor, agrees to make conslruction loan ad~ances up to the princi{~1 amount o( the Note, then Mortgagor hereby covenants that il will comply with all ot the terms. ~~rovisions :ind ~ocenants of s:iid ~~onstruction la~n :~greement or loan commitment, will dili~ently construct the impro.•ements to be built pursuant to the terms thereof, all of the terms thereof which are in- ~-orEx~ratecl herein by reference as though set torth fully herein .~nd ~vill E~ermit no de(aults to occur thereunder and it a de- tault shall occur thereunder, it shall conslitute a detault under this Morlgage and the Note. 22. At lhe option ot Mortgagec•, :1lortgagor sh:~ll pmvide 111ortgagee with periodic certilied audited slatements ot the financi.d condition of ~lortgagor. 23. A'foriR:~gor represenfs and w~arrants that if a~•or~wr.dion, it js duly organized and vt~lidly existinR, in good atand- inR under the laws of the staie of its incor~-oration, h:ix stock outstanding which has been duly and ~•alidly issued, .ind is quali(ied to do busine~ and is in good standing in ihe State of Florida, with (ull ~~ov`er and authority to consummate the loan ~~ontemplated hereby: and, it a ~k~rtnership, it is duly (ormed and validly existing, and is tully qualified to do business in the State of Elorid:~: with tull ~wwer and :iuthority to c•onsumm:~te the loan rnntemplated hereby. 24. In the event any one or mnre ot the provisions contained in this 111ortgage or in lhe Note shall for any reason Ix~ held to I-c• invalid, illegal or unentonrable in any res~~•t, such invalidil_v, illegality or unenforceablity ahall, at the option of the l~lortRagee, not alterl any olher pmvisions o( lhis Mortgage, but lhis Mortgage shall t-e construed as it such inv:did, iUegal or uncn(onrable pro~~i~ion h:~d ne~~er becn containc~d herein or therein. The total interest payable pursuant to the Note or this MortRaRe sh:+ll not in any one year ~~x~~Etircl the highest lawtul r.~te of interesf in the State of Florida. 25. The co~•enants and agreements herein containc~cf chall bind and the benetits and ad~•antages ah:~ll inure to the rex~xr•ti~•e heirs, exec•ufors, administrators, sucir~sors, :u~d assiQns of lhe parlies hemto. Where~rr used, the singular number shall in~~lude the plur.d, the ~-lural the sin~ular, and the u5e o( any gender shall t-e applicat-le to all Renders. All co~•enants, agreements and undertakings shall I~e joint and several. In lhe event addition:~l numbered rnvenants or para- graphs are for convenience inserled in this Atortqage, su~•h additional ~~oeenants shall be read and gi~~en eftect a+ though following this covenant in consecuti~•e order. 5 ~ i ~ 5 w Kirx~~d"T."i. ,. ~. .... ...._ . .r_ -~ h~ ~x 348 P~~f 1f~fi5 - ~ ' = ~ K.-~'W'~ 1M'4~_x_