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as security for the Note. to have a receiver appointed to ente~ upan and take possession otthe Mongagcd Property, col-
lect the rents and profits thec~efrom and apply the same as the cauR may direct, such receiver to have all the rights and
powe~s pertnitted unde~ the laws of Florida. -
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ln eithe~ such case~ Matgaga or the reccivcr may also takc possession of, and for these purpcues use. any and
all personal propetty which is a part of thc Morigaged Property and used by Mongagor in the rcntal or leasing thereof or
any parl thereof. '[t~e expense (incloding receiver's fas, counsel fces~ costs and agent's compensation) incurtrd pursu-
ant to the powers herein contained shall be securcd harcby. Matgagee shall (aRer payment of all costs and expenses in-
cumed) apply such rents. issues and profits rec~ived by it on the indebtedness securcd hercby io such order as Mortgagee
detennines. The right to enter a~ take possession of the Mortgaged P~operty. to manag~ and operate the same. and to
collect the rents. issues and prufits th~reof. whether by a receiver or otherwise, shall be cumulative to any other righ~ or
remedy heoeunder or afforded by law, and may be exercised concurrently therewith or independently thereof. Mortga-
gee shall be liable to account only foc such rents. issues and profits actually received by Mortgagee.
14. If the indebtedness secured hereby is now or hereaRer further secured by chattel mortgages. security inter-
ests. financing statements, pledges, contracts of guaranty, assignments of leases. or other securities, or if the Mort-
gaged Propetty hereby encumbered consists of more than one parcel of real propeny. Mortgaga may at its option ex-
haust any one or more of said securities and secwity hereunder, or such parcels of the securiry hereunder. eitherconcur-
rently or independently. and in such order as it may deterrnine. .
l5. This Mortgage shall secure not only existing indebtedness. but also such future advances. whether such
advances are obligatory or to be made at the option of Mqrtgagee, or otherwise, as are made within twenty (20) years
from the date hereof, to the same extent as if such future advances were made on the date of the execution of this Mort-
gage. but such secured indebtedness shall not exceed at any time the maximum principal amount of two times !he
amount of the Note, plus interest ther~eon, and any disbursements made for the payment of taxes, levies, or insurance.
on the Moctgaged Propeny, with interest on such disbursements. Any such future advances, whetherobligatory or to be
made at the option of the Mortgagee, or otl~erwise. may be made either prior to or after the due date of the Note or any
other notes secured by this Mortgage.ll~is Mortgage is given for the specific purpose of securing any and atl indebted-
ness by the Mortgagor to Mortgagee (but in no event shall the secured indebtedness exceed at any time the maximum
pri~cipai amount set forth in this paragraph) in whatever manner this indebtedness may be evidenced or represented,
. until this Mongage is satisfied of ~+ecord. All covenants and agc+eements contained in this Mortgage shali be appiicable
to all further advances made by Mortgagee to Morfgagor under this future advance clause.
. 16. No delay by Mortgagee in exercising any right or remedy hereunder, or otherwise affqrded by law, shall
operate as a waiver thereof or preclude the exercise thereof during the eontinuance otany default hereunder. No waiver
by Mortgagee of any default shall constitute a waiver of or consent to subsequent defaults. No failur~e of Mortgagee to
~ exercise any option herein give~ to accelerate maturity of the debt hereby secured. no forbearance by Mortgagee before
~ or after the exercise of such option and no withdrawal or abandonment of toreclosure proceeding by Mortgagee shall be
taken or construed as a waiverof its right to exercise such option or 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 manner. the procurement of in-
surance or the payment of taxes or other liens or charges by Mortgagee shall not be taken or construed as a waiver of its
right to accelerate the maturity of the debt hereby secured.
17. Without affecting the liability of Mortgagor or any other person (except any person expressly released in
writing) for payment of any indebtedness secured hereby or for p~rformance of any obligation contained herein, and
without affecting the rights of Mortgagee with respect to any security not expressly released in writing, Mortgagee
may. at any time and from time~to time, either before or after the maturity of said note. and without notice or consent:
(a) Release any person liable for payment of all or any part of the indebtedness or for performance of any
; obligation;
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(b) Make any agreement extending the time or otherwise altering the terms of payment of all or any part
~ of the indebtedness. or modifying or waiving any obligation, on subordinating. modifying or otherwise dealing with the
l lien or charge hereof;
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(c) Exercise or refrain 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 indebtedness, including
al) or any part of the Mortgaged Property.
I 8. Any agreement hereafter made by Mortgagor and Mortgagee 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 homestead exemption, if any, in the Mortgaged Property. ~
20. In the event of condemnation proceedings of the Mortgaged Property, the award or compensation payable ~
thereunder is hereby assigned to and shall be paid to Mortgagee. Mortgagee shall be under no obligatian 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 such condemnation proceedings, Mortgagee may be represented by counse) selected by Mortgagee. The proceeds
of any award or compensation so received shall, at the option of Mortgagee, either be applied to the prepayment of the
Note and at the rate o! interest provided therein, regardless of the rate of interest payable on the award by the condemn-
ing authority, or at :hc aplion of Mortgagee, such award shall be paid aver to Mortgagor for restoration of the Mort-
gaged Propeny.
21. If Mortgagee. pursuant to a construction loan agreement or loan commitment made by Mortgagee with
Mortgagar, agrees tv make construction loan advances up to the principal amount of the Note, then Mortgagor hereby
a~venants that it will comply with all of the terms, provisions and covenants of said construction loan agreement or loan
commitment, will diliger~tly construct the improvements to be built pursuant to the terms thereof. all of the terms there-
o~ which are incorporated herein by rcference as though set forth tully herein and will permit no defaults to occur there-
under and if a default shall occur thereunder, it shal) constitute a defautt under this Mortgage and the Note.
22. At the option of Morigagee. Mortgagor shall provide Mortgagee with periodic certified audited state-
ments of the operatinns of and the financial condition of Mortgagor.
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