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Home My WebLink About0931 • . . . ~ ~ . , , . , !t~ ~ l~~ t•i ,~pply such nnts, i~yue:z iuid ~~rotita reeei~~s~c~ by i[ ~n the indebtedneas secured harehv in eueh orcler :~s 3lortgagee deter- ~uines. 'I'ho ri~ht tu enter and tnko {x>~esaion ot the T~ort~eigecl Pro{?erty, tu mnnnge :ind o~>e~~te lhe.s~~ne, nnd to colle.t the mnla, issues i~nd pro(its thereof, whether by n~eceiver or otherwiso, ahall tw cumulntive to uny other right or remedy hoceuniler or attordeci by law, nnd mny he exercised concurrently lherewith or indPpondently thereot. Atort~ngee shnll t~ liiible to r~ccount only [qr such rer.ts, issues and profita nctually receiveci hy Mottgngee. 14. 7t tha indebtecine~s secured heteby is now c~r hereAtt~r turther secured hy chattrl morlgages, security inte~ests, fin~ncing stntementa, pledges, contcacts of gunrrmty, assignments ~of leflaes, ur othar aecurities, ar if tho Mortgaged Pro- E~erty hereby encun~beted consists of niore th:~n one pnrcel ot renl property, I~iortgagea mny nt its option exhnust uny on~ i~r more ot s~iid securities nnd security hereunder, or such pArcela ot the security hereunder, either concurrently or 'inde- . ~>endently, nnd in such order aetit~ ~A~~t~e. ~ 15. This Tiortgage ehnll 3eci.r~e b~'dn y existing indebtedness, but also such tuture Adv~nces, .~-!~9lher such a~dvunces nre obligtstory or to be ui~de at the option of Mortgt~gee, or oiherwise, as t~te mude wilhin tweniy (d,- ~*a Prom the dnte hereof, to the sume extent .1s i[ such futurc advnnees ~vere made on the dnte of the execr~tion otn }~s A'Iortgnge, bul such secured indebteclness shnll nqf exceed at any time the mnxirnum principal amount oE ~ ~ . plus intetest, t~nd c~ny diahuraementa ~nude tor the p~yment o[ tnxes, levies, or insun~nce, on the hSortgt~ged Property, K•ith interest on such disbursements. Any auch future ~dvunces, ~?•hether oblig~tory ar to be made at the optio~ o[ ihe Alortgngee. or ~therwise, mny be tnade either priur to or u[ter the due date o[ the Note ~r uny other notes xecured by this htortgAge. - This Aiartg~ge is gi~~en for ihe specitic purpose ot sect~ring nny nnd nll indebtedness hy the riortgngor to Alortgngee (but i^ no e~~ent shnll the secured indebtedness zxceed at Any tims the maximum princ9~~a1 Amount set forth in this narng~aE>h) in , whate~•~r mAnner this indebtedness may be evidence.i or represented, until this r4ortgage is satistied of retord. A!1 co~~en= ~nt3 and pgreements contained in this Mortgnge shall be applicf~hl;; 'to alk further ndvnnces mnde by I`10F~'~'A~E'! to ~4ortgngor under this tuture advanc~ clause. ~ . 16. No delny by A4ortgagee in exercising any_right or rPmedy hernunder, or otherwise nf[orded by l~w, shall o~.~erate . us n waiver ther~of or preclude the exercise thereof during the continunnce oi ~sny default hereunder. No wniver by Mortgagce of any default sh~ll constitute n wai~~er of or consent to subsequent detaults. No fnilure of. Mortg~gee to exercise ~ any option herein gi~•en to nccelerate muiurity of the debt hereby secured, no forbearance by Mortgagee before or after the exercise ~f sucb option flnd no H~ithdr~w~l or nbanclonment of foreclosure proceeding by biortg~+gee shull t~e tnken or con- strued ~s a wniver of its right to exercise such ot~tion or to accelerute the.maturity of the debt hereby secured by reason of ~~ny ~~nst, present or future defnult on the p~ri of I14ortgagor; and, in like manner, ihe procurement of insur~nce or the pay- me~t of taxes or other liens or charges by A'Iartg~gee sh~il not t~e taken or construed as t~ ~vai~•er oi its right to accelernte ~ the maturity oF the debt here6y secured. 17. Without affecting the liability ot riorigagor or any other ~>etson (exce~~t any ~~ersor. expressly released in writing) tor payment of any indebtedness secured hereby or for pertormance of any obligation contained herein, and without atfect- _ ing the rights of rlortgagee with respect to Any security not expressly released in writing, blortgngee may, nt any time nnd fcom time to time, either t~e[ore or after the maturity of said note, flnd without notic~ or consent: (a) Relrase ~ny person liable for payment of all or ~ny part of the indebtedness or for performance o( any ohligation. . ~ (b) !4lake any agreement extending the time or otherwise altering the terms of p~ymsnt of all or any part of the inclebtedness, or modifying or waiving nny obligntion, or subordinafing, r*iodifying or othenvise dealing with the lien or ~ charge hereof. ~ . (c) Exercise ~r refrnin irom exercising or wai~•e any right Iltortgngee may hs~•e. (d) Accept additiona! security af an} kind. • ~ (e} Release or otherwise deal ~aith ~ny property, real or personal, securing the indebtedness, including all or any part ot the 141ortgaged Property. . 18. Any ngre~ment hereafter mnde by I~tortgagor nnd Mortgagee pursuant to this mortgage shati he superior to the rights of ihe holder ot any inter~~ening lien o: encumbrance. ~ • 19. Mortgagor hereby wai~~es all right ot homestead exemption, if any, in the 111ortg~ged Property. 20. In the event of condemnation {~roceedings of the Mortgaged Property, the award or com}~ensation payable there- . under is hereby assigned to and shall he paid to A'Iortgagee, i~4ortgagEe shall be under no obligntion to questic~n the amount o[ any such award or compensation and may accept the same in the amount in which the same shall be paid. In any such eondemnation proceedings, lliortgagee mav tje represented I~y.counsel selected hy hiortgagee_ 'I'he proceeds of any award ~ or compensation so received s~ uil, at the option oi 111ortgagee, eixher be applied to the prepayment ot the Note and at the rate of interest pmvided therein, re~ardless ot the rate oi ;nterest payable on the award by the condemning authority, or at ~ the option af hiortgagee, such awaed shall be paid over to Aiortgagor for restoration o! the Riarigaged Property. ~ . 21. If I~lortgagee, pursuant to a construction loan agreement or loan commitment made by b4origagee with Mortgagor, i agrees to make coi?siruction loan ad~•~nces ~p ro the principal amaunt ot the Note, then ;~tortgagor hereby covenanGs ti~3t it will comply with all of the terms, provisions and covenants ot said construction loan agreement or loan commitment. will diligently construct the impro~•ements to ue buiit pursuant to the terms thereof, ~It of the terms thereof which are in- ~ corporated herein by reference as tho~gh set forth lully herein and wiil permit no defanlts to occur thereunder and if a~e- ~r~ fault shall occur thereun~3e;, if zhall cons~itute a defaulf under this Atortgage and the Note. ~ 22. At the option of ?;:ortgagee. hlortgagor shall provide 1ltortg:+gee with periodic certified audited statements af the ~-i financial condition of l~iortgagor. ~ 23. riortgagor represents and warrants that if a cor~~oratian, et is duly organized and ~-alidly existing, in good stand- ~ ing under the laws of the state of its incor~wration, has ptock oatstanding which has been dul_v and validly issued, and is qualified t~ do business and is in good standing in the State of Fiorida, with fuli power .and authority to consummate the :o:in contemplated hemby; ar.d, it a partnership, it is duly tormnd and validly existing, and is fuliy qualified to do business in the State ot Florida; with tuil power and authoiity to consummate the loan centemplatec! hereby. 24. In the e~~ent ~ny one or more of the provisions contained in iliis Dlortgage or in the Nute shall for any reason be lield to t?e invalid, illegal or unenforceablu in any res~~ect, such invalidity, _illegality or unentorceablity shall, at the option of the 1~4ortgagee, not atfect any other provisiu~s of this Mor!gage, hut this Ttortgage shall be construed as if such ~ in~•alid, illegal or unenforceahle j~rovision had ne~•er been contained herein or lherein. The fotal interest payable pursuant to the Note or ihis 11'Iortgage shall not in any ane year exceed:the high~st lawtul rate of interest in the State of Florida. ~ ?.:a. The co~~enants and agreements herein containecl shatl bind and the benefits and advnntages snall inure to the ~ respecti~•e heirs, executors, administrstors, ~uccessors, and assigns of the patties hereto. Where~~er used, the singular ~ nunaher shall include the plural, the plural the singular, and the use of any gender shall be appli~abfe !o all genders_ AII covenants, agreements and undertakinga shall be joint and several. In the e~•ent additional numbered covenants or para- . graphs are tor convenience inserted in thia Ltortgage, such additional covenants shall b~ read and gi~•en et[ect as thaugh following this co~•enanf in consecuti~~e order. ~ j_~ ~ ~ - . . _ -3- ~j ~ B00l~( ~ 1 c7 PACE c7J1 . F: