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Home My WebLink About0923 u sccunty fcx thc Note, ~o Fuve a c~eceiver appointcd ta enttr upon ~nd takc possess~on of the Mungagcd Propcrty, col- Iect the rents and ptafits thcrctrom and apply tht same u th~: court maY ~ircct, such ~ctiver to havc all the ngnts and powers pern~incd unc3er the laws of Flonda tn either such case, Matgagce or the rece~vcr may afso take possess~on of, end for these purpous ux, any and all personal praperty which ~s a part of thc Mortgagtd Propetty ar~d uxd by Murtgagor in the rcntal or Itas~ng thercof or any part therraf. Tht ezpense (~nciud~ng rcce~ver's ftes, counst! fees, costs and agent's:ompensaUOn) mcurrcd pursu- ant to the ~+owers herein rontained shall he securcd hereby. Mortgagee shall Iafter payment of al) casts and expenses ?n- curred ) apply ~uch rcnts. ~ssues ari~ profits rccuved by ~t oa the indebt~dness secured F?ercby ~n such order as Mortgagee decerm~nes The nght to rnter and take pc~ssesswn of the Mortgaged Propeny, to manage and operate ~he samr, and tu coilect the rents, issues and profits thereof, whether by a rcceivtr or otherwise. shall be c~mulauve tu any vther right or remrd~ hereunder ~~r af~orded by lav?, and may be exerci~ed cuncurren~ly therewith or independenUy there~~f Mc~rtga- ~ee shail be I~able to account only for such rents, issues and profits acwally received by M~rtgagee 1~i. If the indebtedne~s ~ecured hereby is rx~w or hercaf~er funtrdr secured by chattel mongages. iecunty ~nter- ests, i~nanc~ng statements, pledges, contracts of guaranry, assignments af Ieases, or Qther sec~rities, or if the Mort- gaged Propeny hcreby encumbered conr.sts of morc than one parccl of rea! proptrty, Mortgagee may at ~ts option ez- haust any one 4r more o( said secunties and secunty hercunder, w such parcets of the security hereunder, ei~her concur- rently or independcndy, and m such order as ~t may tieterm~ne. !S. This Mortgage shali securc not only existing indebtedness, but also such futurc advances, whether such advances are obligatory or to be made at thc option of Mqrtgagee, or otherwise, as arc made within twenty (20) year~ from the date heccof, to the same extent as if such future advanccs werc made on the date of the exzcution of this Mort- gage, but such securcd indebtedness shall not exceed at any time the maximum principai amount of two times the amount of the Note, plus interest th~rcon, and any disbursements made for the Qayment of taxes, kvies, or ins~rance, on the Mongaged Propeny, with interest on such disburxmeots. Any such future advanres, whether obtigatory or to be made at the option of the Matgagee, or otherwise, may be made either ~ior to or after the due date uf the Note or any other notes securcd by this Mortgage. This Mortgage is givcn for the specific purpose of ser.unng any and all ind~bted- ness by the Mcxtgagor to Mortgagee (but in no event shall the securcd indebtedness excced at any time the maximum prirtripal amount set forth in this paragraph) in whatever manncr this indebta~ness may be evidenced or repnesented, until this Mortgage is satisfcd of record. All zovenants and agreements contained in this Mortgage st~all ts~ aE,~,l~ea~~e to all further advances made by Mortgagce to Mortga~or under this future advar+ce rlsuse. 16. No dtlay by Mortgagee in exercising any right or Rmedy hercunder, or aherwise affurded by law, shall operate as a waiver thercof or preclude the exercisc tixrcof during tf?e continuance of any default hereunder. No waiver by Martgagce of any default si~ail constitute a wai~er of or corsent to subszquent defaults. No fail~re of Mortgagce to ezercise any option hcrcin given to accelerate maturiry of the debt hercby secured, no forbearence by Mortgagee before or after thc exercise of such option and no withdra~~val o~ abandonment of foreclosurc procreding by Mortgagce shal I be taken or construed as a waiver of its right to ex~rcise such option os to accelerate the maturity of the debt hereby secured by reason of any past, present or future default on the part of Mortgagor, and, in like ma~~~, tt!t ~rM~4.*~?~r±ent of in- surance or ihe payment of taxes or other liens or charges by Ma~tgagte shall not be taken or construed a.s a waiver of its ~ r~gtit to accderate the matunty of the debt hereby securtQi. ~ 17. Without affecting the liability of Mortgagor or any dher person (except any person expressly released in wntin~) for payment of any indebtedness secured txreby or fcx performance of any obligation contained herein, and witFwut affecting the rights of Mortgagee with respect to any secunty not expressly released in wnting. Mortgagee may, at any time and from time to time, either before or aftcr the matunty of said r?ote, and without notice or consent: ( a 1 Release any person liable for payment of all or any pan of the ~odebtedness or for performance of any obligation; E ~ ~ (b) Make any agreement extending the cime or otherwise altering the terms of payment of all or any pan of the indebtedness, or modifying or waiving any obligation, on subordinating, modifying or ott~erwise dcaling w~th the lien or charge t~reof; ~ ~ (c) Exercise or refrain from exercising or waive any right I?tortgagee may have; (d) Accept additianal seturity of any kind; and (ej Release or otherwise deal with any property, reat or per~onal, securing the indebtedness, including all or any pert of the Mortgaged Propcrty. ~ 18. Any agreement hereafter made by Mortgagor and Mortgagee pursuant to this mortgage shall be supenor ro ~ the rights of the holuer of any intervening lien or encumbrance. G 19. Mortgagor hereby vvaives all right of hamestead exemption, :f any, in the Mongaged Property. ~ 20. In the event of rondemnatian proceedings of the Mongaged Property, the award or compensation payable ~ thereunder is hereby assigned to and shall be paid to Mortgagee. Mortgagee shall be under no abligation to question ~he k amount ~f anr •uch ~ward or compensation and may accept the same in the amount in which the same shall be paid. In am such condemnanon proceedings. Mortgag~e may be represer.ted by counsel sefected by \+tortgagee. The proceeds 4 of am award ~~r cumpen.ation so recei~~ed ,hall. at the uphun of ti9urtgagee, either be applied to the prepayment of the ~ tiote and ac the rate nf ~nterest provided therein, regardles~ uf thr rate of in[erest payabte on the award by the condemn- ~ m~ ~u~h~~nt~. ur at th~ u~ti~~n uf ~S~~ngager. ~urh award ,hall be paid uver tu ~tc~rtgagor for restcirauor. of ~he l~1c~n- ga~ed Pn~rcrt~ ~ ~ ' 1 II ~t~mi,,~rr. punuam to a cnmerucnun loan ~gre~mem or loan c~timmitment m~de by ~1~~ngagee w ith ~ ~lurtgag~~r. :~gr~e. t~~ make c~mtitruc~ion loan ad~ances up to the pr~ncipal amount of the Note, then ~lungagor hereb~ ~ ;~~~cnant. ~hat it K ~II cumply w ~th ail uf the term~. provisions and covenant~ cif sa~d construction loan agreement ur loan ~ c~?mmnmeni. w ~I{ diligently cuntiwct the improvemenu to be built pursuant to the teRns thereof, all uf the tenns there- ~ which are incurpe>rated herein by reference though set fonh iull;i herein and v? ~II ptrmi~ nodefeul~~ tc, occur there- ~ undcr and if a default shall ocrur ihereundrr. it ,hail consu~ute a dcfault undcr this Mortgage and the No~e ~ _'2 A~ thr tion of Merrt ~ ee. Mon a ur ~h~ll nn•ide `t~~n ~a ~re with n~xiic cenified audued ~trte- p €S P~ 6~ Pe meM~ of the oprrauon~ uf and the financial condiuon ot ytortgagur. n R y~ PaGE 923 gpG+c k- _ ' ~ 4 ~ ^.,D ~"f'cs~- e N ~ ' ~ T r fi~