Loading...
HomeMy WebLinkAbout0979 _ . __"."_'_.~i_.__ _ _ . ' . . . ' . . . . _ ~__,.~..,i~._ ~__'~-.'M~~ ' • • I • ~ . ~ ~ f • t` J. •i . as security for the Note. to have a rcceive~ ~ppoint~ed to entcr upan and t~ke possessio~ of the Matgsg~ Property. col- ; kct the neMS and pmfiu tt~efrom snd apply the sair~e ~ the couit may direct. such roceiver to tiave all the rights ud + powers pem~ittod widet the lawa of Florid~. . In either such case, Matgagoe o~ the roaiver may also ~alce posaession of, and tor these purposes use. any and all personal ~xopeny which is a part of the Matg#god P~opeRy and usod by Matgago~ in the c~ental os kuing thercof or - any part tl~e~eof. The expense (including roaiver's foea. counsel foes, casts and sgeM's compeasation) incurre~f pursu- - - ant to the powers heoein contai~od shall be secuced hereby. Mortgsgoe s1~11(sftar payment of all coats and eicpenses in- cucred~ spplY such rents. issues and pcofits c+cceived by ii on the indebt,edness socured hereby in such onler u Matgaga deunnines. The right to enter and tske poasession of the Matgagod !'~+openy. to manage and operate the same. and to colkct tho rents. issues and proiits theroof. whether by a reaiverorott~ecwise, shall be cumulative to any other right a rcmody hereunder or afforded by law. and may be exercised concumently therewith or independently thereof. Mortga- gee shall be liabk to a~cc.~ouM onfy for sucfi ronts. issues and profita actwlly roaivod by Mo~tgagee. 14. If the indebtodness socurod hercby is now or hercaRer further secu~+ed by chattel matgages. socurity inte~- ests. Gnancing statements. PlodSes. contmcts of guaranty. assignmenta of leases. or othu socurities. or if the Mort- gaged Property hereby encumberod consists oi nwre than one parcel of real q~opeAy. Mortgagee may at its option ex- haust any one or mooe of said securities and security Ixaunder. or such parcefs of tfie soc~uity henew~der, either concur- rcMly or independenily. and in such order as it may detennine. ! S. 'Il~is Iulatgage shall securc not only existing indebtodness, but also such futu~e advanoes. whether such advances are obligatory ar to be n~k at tfie option of Mqrt8agx• or olherwise? as arc made within twenty (20) Years from the date hereof, to the same extent as if such future advances wea made on the date of the exocution of this Mort- gage. but such securrd indebted~ess si~all not excaod at any time the maximum principal amount of two times the ~ amount of the Nde. plus interat theroon, and any disbursemems made for the payment of tax~s. kvies, a insura~x~e. a? the Mortgagod Pmperty. with interest on wch disbursements. Any such future advs~nnoes. whether obligatory or to be made at the option of the Matgagee. o~ othenerise. may be a~a~de either piior W or afkr the due dat~e of the Note or aay other notes socurcd by this Mortgage. 71iis Matgage is given for the specific purpose of socuring any and ail indeMod- - ness by the Matgagor to Matgaga (but in no event shail the socw+ed indebtedness excood at any time tbe maximum principal an~nt set fwth in this paragraph) in whatever manner this indebtedness may be evidenad or ~pneseMed, ~ untii this Moctgage is satisfiod of rocord. All covenants and agroemonts contained in t}us Matgage shall be spplicabk to al) turthei advances made by Mortgaga to Mortgagor under this future advanoe clause. i 6. No delay by Matgagee in exerrising any right or rer~udy he~eunder, or otherwise afforded by law, s~hall operate as a waiver thereof or precl~e the exercise theroof during the continuance of any default henewider. No waivu ~ by Mortgagee of any default shall constitute a waiver of or consent to subsoquent defaults. No fai{ure of Mortgagoe to exerrise any option hercin given to accxlerate maturity of the debt hercby secured, no farbearance by Moctgagee before or afte~ the exercise of such option and no withdrawal or abandonment of foroclosure proce~oding by Matgagee shall be taken or conswed as a waiver of its right to exerrise such option or to acxekrate the maturity of the dcbt hercby secured by reason of any Qast. present or future default on the pa~t of btortgagor; and. in like manner. the procuiement of in- ~ surance or the payment of ta~ces or other liens or charges by Mortg,agee shall not be taken or constnied?s a waiver of its right to accelerate the maturity of the debt hercby socurod. 17. W ittaut affecting tl~e liability of Mortgagor or any wher person iexcept any person ~xpressly r+eleased in writing) for payment of any indebtedness securcd heneby o~ for perfocmanve of any obligation containod herein, and witlaut affecting the rights of Mortgaget with rcspect to any socurity rat expressly released in writing. Mo[tgagee - may. at any time and from time to time. either befor~e or after the maturiry of said note. and without notioe or consent: . (a) Release any perso~? liabk for payment of al{ or any part of the indebtedr~ess or for pcrformance of any : obligaqon; . - . : (b) Make any agrcement extending the time or otherwise altering the tern~s of payment of all or any paR of the indebtodness. oc siwdifying or waiving any obligation. on subordinating, modifying or otherwise dealing with the . lien or charge heroof; 1 (c) Eaercise or rcfrain from exercising or waive any right Mortgagee may have; (d) Accept additional security of any kind; and (e) Release or otherwise deal with any property. real or personal, securing the indebtodness, including all a any part d the Martga~od PropertY• ~ ' I 8. Any agnxment hereafter made by Mortgagor and Matgagee pursuant to this mortgage shall be supcrior to ' the rights of the holder of any intervening lien or encumbrar~ce. l9. Matgagor hereby waives all right of homestead excmption. if any, in the Mortgagod P~perty. 20. In th~ event of condemnation proceodings of the Mortgagod PropeRy. the awa~d or compensation payab{e thereunder is hereby assigncd to and shall be paid w Mortgagee. Mortgagee shatl be unikr no obligation to question the amount of any such award or compensation and may xcept the same in the amount in which the same shall be paid. In any such ca~demnation psocoodings. Mostgagee inay be represented by counset selected by Mortgaget. 'Ttie procoeds of any award or compensation so rcceivod shall. at the oQtion of Matgaga, either be apQlied to the prepayment of tbe Note and at the rate of inte~est provided tf~erein, rcgardkss of the rate of interest payabk on the award by the co~demn- ing authority. or at the option of Mortgagee, such award shall be paid ovef to Mortgagor for ~estoration of the Mort- g~~ ~ny- 21. If Mortgagee, pursuant to a conswction loan agreement or loan commitment n~ade by Mortgagee with Mortgagor, agnes to make conswction loan advances up w the principal amount of the Note, then Mort&a8a ~~'Y covenants that it witl compty with all oi the temu. provisions and ~venants of said construction loan agreement a loan commitmeat. will diligendy construct the improvements w be built pursuant to the terms thereof, all of the tem~s tt~er~e- ~ of which arc incorporatod herein by r~efer+ence as though set forth fully herein and will pern?it no defaults to occur therc- _ undu and if a default st~all occur tt~errunder, it atialf constitute a default under this Mortgage and the Note. 22. At the opion of Mortgaga. Mortgagor sha11 provide Mnrtgagce with periodic certifiod suditod state- ments of the operations of and the financial conditio~ of MortgaRor. 80 K PAGE '