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Home My WebLink About0953 - _ . , . i' . - - . ' ~ ~ ; ~ f upply such renis, issuea iind ~~rotits recei~~ed hy it on the indahtedness secured hek~?~in'9urh order~a~'I~t~rtRageo deter- mines. 'I'he right to enlcr nnd tnke posscavion of the Itlartgi;~;~~c1 Pr~i~~erly, tu main<ig~ :~nd o~~ernt~~ the s~~t»e, nnd lo colle~~t ~ the ret~ts, issues i~nci protitt+ thereof, whether hy n rec•ei~•er or oth~erK~iso, shnll I~e cumulntive t~ nny other ri~ht or rem~dy hereunder or atforded by ln~~•, c~nd mny bo ~xercised concurmntly therewith cr inde~fendently thercoL 1~tortgnKee shnU ~ Iw liable to t~ccounl only !or such mnte, issues auad pr~fits actunliy re<~eivecl !~y A1ortRi~;:ee. ~ 1~. It the indebtedne~.q securrd herehy ia now or hercn[ter furiher secured hy chattel martgaKes, securiiy intgrests. finnncing statements, plecl~es, contracts o! gutsriinty, assignments uf leases, or oihor securilies, or if lhe I~tortgi~gec! Pro- ~~erty hereby encuml?ered conAislF oi more thnn one p;~rcel o[ rr.il pro~>erly, htortgagee mny t~t its o~~tion exhuust i~ny o~ie or more of si~id securitiea .~nd security hereunder, or surh pnrcels of the security hereunder, either c•oncu~renUy or inde- ~>e~dently,'iind in such ~rder atsri~ ~u~r ~te~ ne. ' ~ a I5: This Aiortg~ge ahs?II srci'Teiioi ~only existing indebtedneag, but ailso such tuture ad~~~nres, whether euch s~dvi~nceA ~ aro oL-lig~to~y or to be m:~dQ :~t t}ie option of 1liortgagee, or otherwise, ns are mnda witt~i~ tu•enty {2'~) yeatw troin ffie d.~te her~ot, ta the s~~me extent ns ii such futurc ;t:lr•nnces were infide on the dnte of the ekecution of this A'lortgnKe, but such secunul indebteclness sniiil not exceed at uny time the mnximum prineipal amount of $ plus interest, and nny d'•shutsements made for the puyinent ot taxes, levies, or insurance, on the A4urtgaged Pro~~eriy, ~vilh interest on sucl~ di,i,ursements. Any such (uture adv~nres, w•hether ol,lig~iory or• to tx- n~ndo tit the option of the Ttortgagee, or otherwise, m.~y t?e m.~de cither prior to or ntter the due dt~te of the Note or nny uther notes secured hy this Mortgage. ~ ' This `iortg~ge is gi~~en tor the s~cific pur{~ose of securis?R t~ny t~nd ul! indebtedn~ss by the Aiort~agor to Aiortg.igee (but f~ in no e~•ent sh:ill the serured indebtednes5 exceed ni <~ny time the maxirryim principnl a~mount set forth in this pan~graph) in f ~n•hatever mnnner this i~?~iebteclness mz~y be evidei~:ed or reE~resented, uniil this Tlortguge is sa~tistied of record. All co~~en- ~ ~nts und ngmements contained in this A'Iortgage sh~ll be applicnl~le to aU further z~dva~nces m~de hy htortgagee to hiortgngor uncler this iuture advance clause. - j 16. No del~~y by Mortgugee in exercising a~ny right or remedy hereunder, or otherH~ise afforded by Ir~w, shall o~~erate as a~ti~ai~•er thereof or preclude the exercise thereot during the continunnce of .~ny defnult hereunder. No wr~i~•er by hlortg.~gee of any dei'lult sh~ll constitute a wniver of or consent to suhsc~uent detaults. No f.~ilure uf 1liorlg.~gee to exercisp f _ any option herein gi~•en to acceler.ite mnturity of the debt hereby secured, no forbenrnnce i~y Ttortgngre Ix(ore or after the exercise'of such option :~nd no withdrnN•al or abandonment o! foreclosure proceecling by Atortgt~gee shall l~e tuken ar con- strued as fl wni~•er of its right to exsrcise such o~~tion or to ncceler.~te the m<~~urity of the debt hereby serurnd I:y reason of ' :~ny past, present or future default on t`~a part ot A9ortgagor, <~nd, in like manner; the procumment oi i?tsurance or the pay- ment of tt~xes or o'.her liens or ehurges by 211ortgugee st~all not f~e laken or construed as a wni~•er of ils riFht to .~cceler~te . the maturity of the debt hereby securecl_ . . ~ • 17. lVithout nffecting the liability of 111orlgagor or nny. other l~erson (except any prrson expressly rele.~sed in writing) for payment of any indet~tedness secureu herehy c~r for perform:ince of :~ny ohligation contained herein, and without ~(tec[- ing the rights of AfortR:~gea ~~~ith resl:ect to anp security not expressly release~l in ~vriting, Alartga~ee may, .~t uny time <~nd fmm time to lime, either I~efore or after the mnturity of said note, :~nd ~+~itliouE notice or consenL- ~ ~ (a) Rele.~se any ~ierson liable tor payment of at! or any part of the inclebted~tie~ss or !qc ~~rto~ mance of any ohlig.~tion. _ (t,) ~1nke .iny agreeinent extending the time or othenvise :iltering the` terrr~"s ot jiayment ~f aJl or ~~ny p~irt of the ~ indebtedness, or modifying or w;iivin~; any ohligation, oc suhordinatink, inocli(ying or otherx•ise dealing «~ith the lien or ~ charge hereof. . ~ ~ (c) Exercise nr refrnin from exercising or w.~i~•e any right ~1ortK~~gce may ha~•e. ~ ~(d) Accept aidditional s~ curity of any kind. . ~ ' ~ (e) Itelease or othcr~+•is~ ~Je:il ~~~ith :uiy proE~erty, rea! or ~x~rsonal, securing the indebtedness, inc•luding ;~l1 or ~ny part o[ the At~~rtgaged Property. 1R. Any agreement herna[tet m:~de !ry Alortgagor aind ~fortFa~;ee pursu.~nt lo this mori~age sh~jll be su~~erior to the ~ rights of the liolder of any inten~ening lien or encumbranre. ~ 19. Mortgagor hereby ~vai~•es c~ll right of homestead eKemption, if :~ny, in the ;1iQrtgageci Properly. ~ 20_ ln the e~•ent of rondemnation pr~~cecKlings ot the Alortgaged Yroperty, tl~e aw•ard oc com{~ens:~tion ~:ayable there- ~ under is hereby .~ssigned to and shall be paid to Alortg:~gee. Aforigagee shall F~e under no oblig:ition ta yuestion the amount of any such award or compei~sation and may acce~~t the ~ime in the :~mount in H•hich the s~~me shall l~e paid. In .iny such condemn.~tian proreedings, :~lorigagee may be represented hy counsel selected I!y i~~ortfiaKec. The proceeds of any ~~i•ard ~ or compensation so recei~•ed shall. :~t the optio~i o( lltortgagee, either he applied to the prepayment ot the Note and at the ~ ~ r~te of interest pro~~ided therein, rekardless of the r:~tr ~f interest payable on thE: a~+•ard hy the condemning :iuthority, or at € the option of ~fortgaKee, such a«•ard sh;~ll 1~e paid o~~er to ~l~rigagor for restorati~n oi the ;1lortgaged Froperty. ~ 21_ I( ~to:tg:~gee, pursuant to a i~unstruction lo~in :igreeu~ent or (o:~n rornmitment made b~• ~ioriga~ec ~vith ;1lortg.i~;or, agrees to make construciion lov~ ad~~ances u~? b lhe principal .ihlOll?l~ O~ 1}lP ~rO~P, the~ l~tortgagor herehy.c~o~•enant, that it will comply «•ith all of the ternis. pro~°isions and ro~•enants o( said consin~ction loan a~reernent or loan commitment, ~vill diligently ronstrurt the .impro~•ements !o Ix huilt ~~ursuant to ihe terms thereof, al! of the terms thercof which are in- ~ c~orporated herein by re(erence :~s~though set forih (ulh~ hemin and ~ti~ill ~~ermii no clefaults to oecur thereunder and it a de- ~ fault shall occur thereunder, it sha? constitute .i defuult uncler this ~lorlgage and the Note. : ~ ' ~ 22. At the option of ~iortgagee, ~iurt~;agor sh.~ll ~~rovide \lortgagee ~ti•ith ~~erio~lic certified auditc~cl st<itements of the € ~ (inanc~ial condiliun of Kfu,iK~~gor. ~ ~ 2;. 1lurtgugur represeuts and «arrants that if c•ur~~or~tion, it is duly orgnnized and vaiidly existing, in good stnnd- ; ing under the lav:s of the state o( its in~•ory~oralion, }lAS S~OCIS Glll3~.~nding ~chich h.~s l~een duly and ~•alidly issued, and is ~ ryuali(icd ta do l~usiness ard i~ in go~~d si:inding in the St:~te of F'lorida, K-ith full ~~wer <ind aufhority to ronsumrnate the ; loan rgntemplated hrreby; ar.d, if a partnership, it is duEy formed anc~ val:c]ly existin~, and is (ully qualifi~ to c1o husiness in the State of Florida; :vith full po~ser and aulhority to ~•~nsi~?nmate the loan contempiatecl herehy. _ i 24. Ir. the e~•ent sin~ ~ne or more of fhe provisions coniained in this Rlorlgage or in the Note shall for any reason = Ire he1J to l~e invalid, i1leKal or unenforceaLle in nny res{mct, such in~~alidity, illeg;~lily or unenforceablity sha:i, :~t the ~ option of the Diorlg:~~ee, not :~ifect any other ~~ro~~isions a( this ~torlqaKe, hut this 111ortgage sh~ll t~ consirued as if such r im•silid, illegal or unen~orceahle ~~rovisio? had ne~•er ~X'E'll contain~d herein or therein. The total inte*est payabie pursuant ~ to the t~'ote or this :~torlR.~gc sh.~11 not in an~~ un~ ~•ear ereced the highest lawful rate oi iuteresi in the S!~-~te of Florida. ~ . ; 25. 'I'he cc~venants .~nd .~greements herein con!ained shall hind nnci the t~enefits ~nd udvantages shall inure to the ~ respecti~•e hcirs, exei~uturs, a~lministrafors, sucressur~, anci assiKns oi the parties hereta ~Vherever used, the ~inRul.~r ~ numlxr shalt include the plur~t, the pluraf the singular, and the use of ~ny gender shall be applicab)e to ai! genders. All ~ . ce~~enant~, agreements and underiakings shall he joint .inc3 se~•eral. ln the e~•ent :iddition.~l numbered co~en:~nts or ~ara- ~ graphs are tor com~enience inserted in this ~+tortgage, such additional co~enants shal{ he read and gi~•en effect as tho~gh ~ following this co~•enant in ronserutise order_ ~ - 3 - . 80~~~ P~Gf -