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Home My WebLink About0922 ~ ~ • ~ . . U ~ . ~ . . ' . ~ j ~ : as security for the Note. W Iwve a reoeiv~er appoiaoed to eniu upoa aad talce poss~uioa of the Ma~t~a~d~~tY. col- lect dic ~eaa aad p~ofia ttia~efrom aad ~ppfy die :ame ai d~e cowt may direce, sucb neoeiver a lave ail the ~ and pow~as pamiqed under tbe lavvs of Florida. . la either such case. Mort~agee ar the z~soeiva may also W~e posse~s:ion of. aad far d~es~ putposes use. aay aad all personal poopeRy which is a pact of the MoAgaged Pt~operty and used by Mongagor ia the ~+ental or kssing thercof or any put tba+eof. The expense (iacludiag roaivex's fees, oounsel feea. oosts aod a8eat~s compawtion) incucred Pursu- ant to the powecs he~+ein coataiaod ahall be secured he~+eby. Matgaga alwll (after Qayment of all costs aad expenses in- curred) aPP~Y such raats. iasues and profits reoeived by iton tbe ~~ecurod hereby ia such ordasa MatBagee detamines. 'I1~e rig6t to enter aad take posaessaa of the Mortgaged Pmperty, to manage and operate the same. and to colket the ~zats. issues aad pufits tl~eroof; wl~etl~a by a eeoeivuorod~ecwise, slWl be cumulative to aay athec right or remody he~eunder or affoodod by law. and may be exercised ooncurrently theoewith or ir~depe~dently thereof. Mortgr goe sha11 be liabk w account oaly for such rents. issues and poofits actually ~+ooeivod by Mcxtgagee. 14. If the indebtedness securod he~+eby is now or haeaRer furtt~er securod by ctwttel moctgages. socuriry inta- ests, fi~aaciqg statemeats, plodges. ooritracts of guaranty, assigaments of kas~s. or od~er securities, or if the Mat- gaged P~»perty hereby encumbered consists of more than one parcel of c~eal property. Mortgagoe may at its option ex- haiist any one or mooe of said socurities and socurity he.~cunder, or such pancels of the security hereunder, eithe~ concur- rently or independendy, and ia such o~der as it may determine. 15. 11~is Matgage shall socure not oaly existiag iadebtednz~s, but also such futw~e advanoes, whether such advances are obligatory or to be made at the option of Mqrt8agoe, or othetwise. at are rnade within twenry (20) yesrs from the date t~ercof, to the same exteat as if such future advances were made on tbe date of the execution of ttus Mort- gage, but such securod indebtedc~ess shali not eaooed at any time the maximum principal amount of two times the amount of tt~e Note, plus inte~est therooa. aod any disbursemcnts made for the payment of taxes, kvies, or insurance, - on the MortBagod Prupe~ty. with intecest on such disbursements. My such future advarnxs, whetherobligatory or to be made at the option of tbe Matgagee, or od~ecwise, may be made eitber prior to or after the due date of the Note or any other notes socurai by this Mo~tgage. '[t~is Mmtgage is given for the spxific purpose of sccuring any and all indebted- c~ess by the Mortgagor w Mortgagu (but in ao eveat shaU tbe securod 'udcbtodaess exceed at any time the maximum principal amount set fo~th in this paragraph) in whatever manner this indebtednesc may bs evidenctd or represented, until this Mortgage is satisfiod of record. All covenants aad agrcements oontaiaed ia tWs Mortgage sl~all be applicable to all fucther advances au~de by Matgagce to Mortgagor under this futu~e advaace clause. ' 16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise affaded by law, shall operate ss a waiver theroof or proclude the eaercise thereof during the continuanee of any default hereunder. No waiver by Mortgagee of any default shall constitute a waiver of or coosent to subsequent defaults. No failure of Mortgagee to exercise any option herein given to accelerate maturity of the debt hereby secured, no forbearance by Mortgagee before or after the exee+cise of such optioa and oo withdrawal or abandonment of foreclosure procxoding by Mortgagee shall be taken or cauwed as a waiver of its right to exercise suchoption or to acoelerate the maturity of the debt hercby secwed by ~eason of any past, present oi futu~e defauh on the part of Mortgagor; and, in lilce manner, the procurement of in- surance or the payment of taues or other liens or charges by Mortgagoe shall not be taken or construed as a waiver of its right to acoelerate the maturity of the debt hereby secured. l7. Without affecting the liability of Mortgagor or any other person (exvept any person expressly c~eleased in writing) for payment of any indebtedness secuied t~arby or for perforn~ance of any obligation contained hecein, and without affecting the rights of Mortgagee with respext to any security not expressly released in writing, Mortgagee may, at any dme and from time to time. either before or aRer the maturity of said note, and without ~wtice or consent: (a) Release any person liabk for payment of all or any part of the indebtedness or for performance of any obligation; f I (b) Make any agreement extending the time or otherwise altering the terms of payment of all or any part f of the indebtedness, or modifying or waiving any obligation, on subordinating. modifying or othenvise deating with the ~ lien or charge hereof; ~ (c) Exercise or refrain from exercising or waive any right Mortgagee may have; (d) Accept additional security of any kind; and ~ (e) Release or othcrwise ~eal with anY WnP~nY, real or personal, securing the indebtodness, including all a any part of the Mo~ed Pro~ercy. 18. Any agiroement haeaftu made by Mortgagor and Mortgagoe pursuant to this mortgage shall be superior to ~ the rights of the holder of any intervening lien or encumbrance. 19. Mortgagor hereby waives all right of honnestead exemption, if any, in tl~e Mortgaged PcupeKY• 20. In the event of cademnation proceedings of the Matgaged Property, the awa~d or compensation payable ~ ther~eunder is t~eoeby assignod w and shall be paid w Mortgagee. Mcxtgagee shall be w~der no obligation to question the ~ amount of any such award or compensation and may accept the same in the amount in which the same shall be paid. In any snc6 condemnation proceedings, Ma~tgagee may be representod by counsel sdectod by Mortgagee. 'It~e proccods ~ of any award or compensation so rcceivod shall, at the option of Mortgaga, either be appliod to the prepaYment of the Note and at the rate of inta+est provided thenein, ~+egandkss of the rate of inta+est patyabk on the awacd by tl~e condemn- ing auttarity, or at the option of Martgagee. such award shall be paid over to Mortgagor for restoration of the Mort- ~ SaB~ ~'~P~~- ~ ~ 21. -If Mortgagoe. pursuant to a construciion loan agrcrcement or loan commitrnent made by Mortgagce with Mortgagor. ag~ees to make conawction loan advances up to the principal amount of the Note,~tt~en Matgagor hereby covenants d~t it will c~mply with all of tbe tern~s, provisions aad oovenants of said oauwctiotr loan ag~eement or loan comnutrnn~t. will diligently constnut tbe imp~ovements a be buih pursuanc to the terms thaoof, all of the tecros ther~e- ~ "of which ar~e incorpontod herein by rcfe~+ence as tt~ough set forth fully herein and will pern~it no defaults to oocur thene- under and if a default shall ovcur d~aeundcr, it sball conatitute a default w~der thia Mortgage aad the Nde. ~ 22. At the option of Mortgagee. Mortgagor shall provide Matgagoe with periodic catifiod auditcd state- F ments of the opentio~a of and the Pmancial cadition of Mortgagor. ~ ~19 P~ 9~ ~ - ~