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Home My WebLink About0948 . ~ . . . _ c - ' r . . . ~ . ~ " .ro~- as socurity f« d,e tVo1e. a nave s ~eeeivcrappan~eo ~o aua upoe aad ulct poss~sioa of the Matt~t~ ~~Y lect tl~e ~att wd pofits tbaetrom aad apply tha same as d~a court :~ay direet. wcb Kceivw b htve dl tl~e rigMs and Po~ P~ped under d~e laws of Flaida. • In e~u wch csse. Martaagee or the reaivex ~uay alm take posiessioa of. aad for d~e purpoas usc. aqy and att pasonat qopeny which is a part of the Matgaged Propaty and ustd by Mu~ta~gor ia tl~e reMal or kasing theoeof or aay part tberoof. Tt~e expenae (iacluding reoaver's fea. oa~uasel fees, oo~ts and a~ent's compensatioa) iacuROdpucsu- ant to the powers h~eia coMained siWl be securod he~eby. Mv~tgaga shali (aRer paymait of all costs and expenses in- cum~d) aPp1Y such ~eats, isaues and profits roaived by itoa tbe iodeb~edness socured hereby ia such a+d~ras Matgaga detennines. The tight to entu and take poaxssio~ of tbe Mo~Baged PropertY ~ ta ~rw~age and opuate the sa~rie. and to colkct the ~ts, i:sues wd pufits thereof, whettkx by a neoeivex a dhenwise. ~tl be cunwtative to aay other righi or remedy hereunder a af~~o~dod by law. and may be eaercisod concurrenUy the~ewith or independently thercof. Mortga- gee shall be liabk w aaouM only for such rents, issi~es ud pnofits sctually reeeived by Maigagoe. l4. tf the indeb~odt~ess socu[ed heceby is ~ow o~ hereaRer fisrther secured by chatte{ mo~igages. security inier- ests. financiag statements, Plod8es, oo~tracts of guar~nty. asaig~meats of kases. or od~a securities, ar if the Moct- S~ ~'~P~~Y ~by encumberod coasists of mac than one parcel of neal pruptrty. Matgagoe may at its option ea- haust any oae or mooe of said socurities and security ha~eunder, or such parcels of the socurity herwrnkr, either concur- trndy or it~d~pendendy. a~d in such oeder as it tnay determi~. ! S. This Mortgage shall socure_ uot only existing indebtodness, but also such future sdvanees, whether such - advances are obligatory or to be made at the option of Mqrtgaga, or otherwise. as are made within twtnty (20) years from the date he~eof. to the sama extent as if suc!~ futw+e advances were made oa the date of the exxution of this Mort- - gage. but such s~cu~ed indebtedness shalt not exaed at any time the maximum priacipa! amount of two times ttk amount of the Note. plus interest tt~ereoa, and any disbursemeats made for the p~ymwt of ta~ces, kvies. or insurance, on tbe Mortgagod Propecty, with interest on such disbuisements. My sttch future advanoes. whether obligatory or to be mada at thc option of the Matgagee, or othawise, may be madt either prior to or after the due date of the Note ar any other notes secuad by this Matgage. 'll?is Matgage is given for the specific purpose of stc~ring any and alt indebted- ness by the Mortgagor to Matgagee (but iu cw event ahall the secured indebtedncss exceod at any time the maximu~n principal amouM set forth in this paragraph) in whatcva manner this indebtedness may ba eviden~ed or ~ep~+csented. untif this Moitgage is satisfied oE rccord. All ooveaants aud agneements oontainod ia this Mortgage shall be applicable to all fucd?er advances made by Matgage~ to Moztgagor under this future advanoe clause. 16. No delay by Mortgaget in exercisiag any right or ~+emody he[eunder, or ott~wix af~'arded by law. shall operate as a waiver thereof or pceclude the eaercise the~+eof during the continuance of any default beneunder. No waiver by Mo~tgagee of any defauft shall constituu a waiver of or consent to subsequent d~faults. No failu~e of Mortgagee to exercise any option herein givea to aaxkcate maturity of the debt he~eby securtd, no forbearance by Matgagce before or aRer the exec+cise of such option and ao withdrawal or abandonment of foneclosure pc+oceeding by Matgagee shall be taken or conswod as a waiver of its right to exercise such option or t~ accelerate the maturiry of the debt hereby socured by reason of any past. pzseot or future default on the part of Maitgagor; and, in like mannar, the procur~ement of in- - sutance or the payment of taxes oc ottier liens or chazges by Mortgagee sfialf not be taken or conswed?a a waiver of its right to acoelerate the maturiry of the debt hereby socurcd. ~ 17. Without atfecting the liability of Mongagor a any ott~er person (eacept any person expressly released in. writing) for payment of any p~debtedness secw~d her~by m~ for performance of any obligation containod heneia, and without affecting the rights of Mortgagce with cespect to any secusity not expressly released in writiag. Mortgagee may. at any time and from time to dme. either before or after the maturiry of said note, and without notice or consent: (a) Release any person liabk for payment of a11 or any part of the indebtedness or for perforniance of any obligation; . . (b) Make an~ agreement extending the time or othenvise altering the ternu of payment of all or any pact ~ of tfie indebtedness, or modifying or waiving any obligation, on subordinating, r~eodifying or otherwise dealing with the k lien or charge hereof; ! ' ; (c) Exercise or refrain from exercising or waive any right Mortgagoe may have; i I ~ (d) Accept additional securiry of any kind; and . ~ (e) Rekace arotherwise deal with anY P~'oP~nY, real or personal, sec~uing the indebtodness, including ~ all or any part of the Mort~god PropertY• s ~ 18. Any agnxment hec~eafter ~c~de by Mo~tgagor and Mortgagce pursuant w this nnortgage shall be supaior to f the rights of tl~~ holder of any intervening lien or encumbrance. - E ~ 19. Mortgagor henby waives all right of homestead exemption, if any, in tbe Mmtgagod Prnperty. ~ . ~ 20. In the event of condemnation p~oc~e.edings of the Mortgaged Property, the award or compensation payable E thereunder is heaby sasignod w and shall be paid to Mortgagee. Mortgagoe shall be under ao obligation w question the amount of any such award or compensation and may accept the sar~x in the amount in which the sarr~e shaU be paid. ln ' any such condemnation procadings,.Mortgaget may be nepresented by counsel seleciod by Mortgagee. The procceds of any awazd or compensation so roaived shall, at the option of Mo~tgagee. ~ither be appliod to the prepaYment of the Note and at the rate of intenest provided thenin, regardless of the rate of insec~est payabk on the award by the condemn- ing authoriry. or at the option of Matgagee. such award shalf be p~id over to Mortgagor for restoration of the Mo~t- 8~8~ ~Y- ; 21. if Mortgagee. pursuant w a conswction loan ag~+oement or loan commitment made by Mortgaga with ; Mortgagor, ag~oes eo make construction loan advances up w the principal arnount of the Note. then Matgagor hecrby ~ covenants that it will comply with all of the terms, provisioRS and vovenants of said conswcqon loan agroement or loan commitm~nt, wi11 diligenUy conswct tbe improvements to be built pursuant to the tem~s tiknoof, all of tbe terms tbere- F of which ae+e iacorpcxatod herein by refecenx ss tt~ough set forth fully herein and will pemnit no defaults to axur ther+e- ~ under and if a default shall occur ~nder, it shall constiwte a default w~der this Mcxtgage and the Note. e € 'p 22. At the option of Mortgagee, Mortgagor shall provide Mortgagee with periodic catifiod auditod atate- ments of the opaations of and the financial condition of Mortgagor. ~110 4i9 P~ 948 ~ 6 _ ~