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a~ secunty fur the Nute, tu have rerriver apEx~inted to enter up m and take Ex»x»i~m of the Murtgagrd Pruprrty, rul-
lect the rents :~nd protits therefrum and apply the same as the R~urt may direct, such receiver to have aU the r?ghts and
Fx~H•cr~ permitted under the laws uf Florida.
!n either such rase, Mortgagee or the rereiver may alw take potis~~~ion uf, and for the~e pur~x~+es use, ~ny and
all Ex.r~~?nal pruperty which i. a part of tF~ MurtgageJ Pro~:ny and u~ed by Murtgagur in the rental or Ira~ing thrreuf ur
any part thereaf. The expense (including rcreiver's fees, rounsel fees, custs and agent's compensation) incurred punu-
ant to thr ~~wen herein rontained sh;~ll be ~ecured herehy. Martgagee tihall (after paynxnt of aU cu~t~ and expemes in-
~ rurred) apply such rents, issues and prufits rereived by it on the indebtednesa secured hereby in wch urder as Mortgagee :
detemunes. The right to enter and take pusse,~ion of the Mortgagcd Property, to m~nage and operate the ~ame. ~nd t~~
rollect the rents, issues and prufit~ thereof, whether by a receiver or utherwise, shal) be cumulative to any other right ur
remedy hereunder or ai7orded by IaH~, and may he exercised cunrurrenUy thereH ith ~>r independently thrre~+f. Murtga-
gee shall be liable tu account only for such rents, issues ~tnd profits actually received by Mortgagee.
14. If the indebteJnes~ secured hereby is n~~w or hereafter funher ~ecurcd by chattel ma~tg:~gr~, u:cunty ~nt~r-
ests, financing statements, pledges, contracts of guaranty, assignments of leases, ~~r ather securities, ur if the Murt-
gaged Property hereby enrumbered consiats uf m<~re th~n one parrel of real property, Mortgagee m~y at its uptiun rx-
haust any one or more of said securities and security hereunder, ur such parcels of the security hereunder, either concur-
rently or independendy, and in such order as it may detern~ine.
I S. This MortKage shall secure not only existing indebtedness, but al,o such future advances, whether tiurh
~Jvanres are obligatory~ ur to tx: msde at the optiun uf Murtg~gee, ur ntherwi,e, are made within tvvent~• 1'_U) year. ,
from the date hereof, to the same extent as iF such future advances were made un the date of the execution of this Mort- ,
gage. but such secureJ inJebtedne~s shall nut exceed at any time the msximum principal arm>unt of tw~~ tirrx~ thr
amuunt of the Note, plus intercst thereon, and any di,bursements made for the payment of taxes, levies, or insurance,
un the Murtgaged Property, with interest un tiuch di~bur,~ments. Any tiuch futur~ advances, whether obligatory or tu tti
made at the option of the Mortgagee, ur otherwise, may be made either pnor to or after the due date of thc Note or any
other nute, secured by this i~lurig~ge. Thi+ Mortgage is given for the sperifir purpose uf securing any snd all indebted-
ne,s by the Mortgagur to Martgagee (but in no event shall the secured indebtedness exceed at any time the maximum
principal amuunt set forth in thi~ par;~gr:~ph) in whatever m:~nner thi. indebtedness may be evidenced or repre+ented,
until this Mortgage is setisfied uf recurd. All rovenants and agreements contained in this Mortgage shall be epplicabie
to all further advances made by Murtgagee to Mortgagor under this future advance clause. ~
16. No delay by Mortgagee in exercitiing any right or remedy hereunder, or otherwise afforded b}~ law , Shall
oprrate as a waiver thereuf or precluJe the exerci~e thercof during thr runtinuance of :~ny default hereunder. ~i~? wsi~er
by Mortgagee uf any default ~hall comtiwte a waiver of or coment to subseyuent defaaits. No failure of Mortgagee to
exercise any optiun herein given to accelerste maturit~~ of the debt hereby ~ecured, no forbearanre by Mortgsgee before
c~r after the exercise of such option and no w•ithdrawa) ur abandonment of fc~reclosure proceeding by Mortgagee shall be
taken ur construed as a w~aiver uf it~ right to exerciu tiurh uptioo or tu arceler~te the mawrily uf thc debt hereb~ ~ecured
by reasvn of any past, present or future default on the part of Mortgagor, and, in like manner, the prucurement of in-
sursnce ur the payment o( tare~ ~x other liens or charges by Mortg~gre tih:~ll nut be taken ar cuntitrued?ti a w aiver ~~i it,
ri~,ht to accelerate the maturity of the debt hereby secured.
17. Withuut affecting the li~bility of M~~rtgag~~r ur ~ny other penc~n lercept any per~un expre.~ly~ relea~ed in
writing) for pay~ment vf any indebtedness secured hereby or for performanre of any ~lig:+tion conta~ned herein, and
without affecting the rights of M~,rtgagee ~~i~h retipect to an~ xrurit~ n~~t expre~~ly released in writing, ~1ortgagee
msy, at an}~ time and from time to time, either before ur after the maturity uf ~aid note, and without nutice ~ir ronsent:
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1 a 1 Rcle:~.e any per.on li~ble (or paymc nt uf :~11 ~~r :~n} part uf the indebtedne» ur f~~r perfc~rmanre ~~I an~
` ubligat~on;
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Ibl `1~ke an} ~greement extending the time ur uther~ i~e ~Itrnng the trrni~ uf pay ment uf ~II ~~r an} p~rt ~
€ of the ?ndrbtedness, or mociify ing or w aivsng any obligsti~?n, im tiutx?rdinsting, me~Jifying or otherwise deaiing with the
; licn ~~r chargc hereof:
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~ Ic) Exercitie or refra~n frons exerrising or wai~c an} right'~i~~rtgagee ma~~ ha~•e:
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~ ~d) Accept additi~?nal security of en}~ kind: and
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le) Release or otherwise deal H•~th any prupeny, real ur per,unal, ~ecuring the indebtedness. including
~ all or any part of the I~lortgaged Property.
~ I R. Any agreement hereafter made hy Mortgagor and Murtgagre punuant tu thi~ murtgage tihsll tx: ,upenur t~~
' the n~ht~ ~if the holder of any intervening lien or encumbrsnce.
~ 19. Mortgagor hereby waiveti all right of homestead exemptiun, if am , in the tilortgaged Property.
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~ ?U. (n the e~rnt of cundemnaUon pnxeedings uf the M~~rtgaged Pru~xrt} , the aH ard ur ci~mpentiatiim pa} ahle
thereunder it hereby assigned ro and ahall be paid to Mortgagee. Mortgagee sh~ll be undcr no obligati~?n tu yue~ticm the
a~nuunt ci( an} suih ~ward ~~r compc:ntiati~m and may accept the ~ame in the am~~unt in Hhirh the ~ame ~hall he paid In
any ~uch condemnation proceedings, Mortgagee may be represented by counsel Selected by tilortgagee. The pr~xee~i.
2 i~f any aw ard or compentation tiu rereived ~hall, at the option of M~~rtgagee, cither tx: applied ta the prcpa~ ment of the
tiote and at the rate of interest provided therein, rcgardless c~f the rate of interest payable on the award by~ the amdemn-
~ ing authurity, ~~r at the optiun of ;~lortgager, tiuch :~ward .hall tx p~id ~~~rr t~~ titurt~ag~~r for re~toratiem of the ~1~~rt-
gaged Pro~:rtp.
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' 1. If `1~~rtgagee, pur~uan! tu a con~wctii~n loan a~reement ~~r luan r~m~mitrnent made hy `1e,ngagee w ith
~1ortgagur, agreeti to make contiwction luan aJvanceti up to the principal amuunt ~~t the Nute, then Mortgagur herehy
F cc~venant~ that it w ill a~mply with all uf the ternis, provi~i~?m anJ cinenant~ c~t .~id romwctiun luan agreement or I~~an
~ commitment, will diligently conswct the improvements to be built pursuant tu the tenns thereof, all uf the temi. therr-
of w hich are inrorExir~ted herein by reFerence ati though tiet forth (ully herein and w ill pc rmit nu defaults to ~xcur there-
~ under and if a default shall cxcur thereunder. it shall cemshwte a default under this Murtgage and the Note.
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~ „ ,~t the upti~m ~?f :~lortgagec. !~1cirtgag~~r ~h:~l! pru~ i~ie ~1~,rtg~gee w~ith peri~?Jir rcrtificd aud~ted ~tate-
~ ment~ uf the e~perati~ms of and the financial condition uf M~~rtgag~~r.
a~:'~4~ 975
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