HomeMy WebLinkAbout0965 ( b) t•lortgayee, at Mortgayee's sole option, may
obtain at any time during the term of this jnortyaye, at
Mortaayor's expense, a report from a reputable environmental
consultant of ~lortga:~ee's choice as to whether the Premises and
the 'tmprove~nents had been or are bein~ used for the handling,
storaUe, transportation or disposal ot hazardous or toxic
~nater ials. In the event ;~ortya5~e re~uests such a report and
said report indicates such past or present use, handlin~,
storage, transportation or disposal, Nortgagee may reyuirp that
all violations of law with respect to hazardous or toxic
materials be corrected and/or that i~lortgagor obtain all necessary
environinental ;~~r~nits before ~iort~ayee shall fund any initial or
subse:~aent advances under this mortgage at ~lortgayee's sole
option. ''i`he failure of +fortqagor to correct any violation of law
with respect to hazar~ous or toxic materials st~all constitute an
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expenses, includiny reasonable attorney's tees, disbursements and
cost of ahstracts of title, incurred or ~aia at any time by
~~lortqayee due to the failure on the part oF t~lortyagor to promptly
and fully perform, co,T~Ply with and abide by each and every
sti~ulation, agreement, condition and covenant of the Note and
this mortgage. Such costs, ci~arges and expenses, shall be
immediately ~ue and payable, whether or not there be notice,
demand, attempt to collect or suit oending. The full amount of
each and every such payment shall bear interest Erom the date
thereoi until paid at the maximum rate allowed by Florida law.
All sucn costs, charges and expenses ~o incurred or ~aid together
with such interest, shall be secured by the lien of this mortgage
and any other instrument securing the ~ote.
The ter,~ "attorney's fees" as used in this mortyage
includes any and all legal Eees of whatever nature includiny, i~ut
n~,r 1 imi rPC~ r_o= fees resultinq fra~n any appeal of an
interlocutory order or final judgment or any other appellate ~
proceeciin~ arisina out oE any litigation,
33. ~lort~agor hereby waives any and ail right to a
trial by jury in any acL-ian, proceeding, counterclaim, or
subsei~uent oroceedings, brouqht by either the Mort.~agor or
I! tlortyayee against the other on any matters whatsoever arising out _
~ ot or in any way connectea with this i~lortgaye. '
~ 34. This Mortc3age secures a loan incurred to finance .
the construction of imorovements on the Premises. It is
~ understood and agreed that Funds to be acivanced under the Note
are to oe useci for tne construction of improve~ments on the ~
Premises in accordance with the ~onstruction Loan Agreeme~t
("Construction Loan Agreement") bearing even date hereof executed
by Mortyaqor and Plortgagee. It is further understood and ayreed
that this Mortyage secures present and future advances made by
~lortyayee to or for the benefit of Mortyagor and that the
original lien of such future advances shall relate back to the
date of the Mortgage. The Mortgaye secures the payment of all
su~s and t~;e berfor~~ance of alI covenants to be paid or ~erformed
by ~iortgagor under the Construction Loan Agreement. tJoth~ny
necein containe~ or contained in the i.onstruction Loan Agreement
si~all ooligate ~•iortyayee to construct or equip any of the ~
iirprovements contemplated to be built on the Premises or to pay
for any such construCtion or eyuippage. Under no circumstances
~ is tfortgagee obligated or required to det~rmine whether the loan
~ proceeds disbursed under the Construction Loan Agreer~ent are
Qeing used or applied in acc~rc~ance with the terms oE such
Construction Loan Ayreernent. The terms, covenants and conditions
contained in the Construction Loan Ayreement are personal between '
the parties thereto and no third parties snall have any riyhts
thereunder or. tnereto and no third parties shall have the right
to enforce any of the te!-.~s thereof. Mortgagor and t~lortyagee ace
neither partners nor joint venturers and nothing contained in the
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