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Home My WebLink About0928 s ~ ~..r ~ . - . 3 € as security far the Nute, :o have a ~eceive~ ap~inted ta enter upun and tt?ke ~~ssession af the Mortgagcd Property, cul- ~ lect the rents and profits therefrum and apply the same as the coun may di~ect, such neceive~ to have al! the r~ghts and F FK)wers ~eniiitteJ unde~ the laws of Florida. ~ F- In either such case, Mortgagee ar the receiver may also take possession of. and for these pur}~ses use. any and ~ all persona4 propecty which is a pari of the Mart~aged Prope[ty and used by Mortgagar in the rentat or ieasing thereof or any part thereof. 'The expense (including receiver's fees, counsel fees, co~ts and agent's compensation) incurred pu~sa- ant to the po~~ers here:in contnineJ shall be sec~red hereby. h1~~rtgagee shall (after payment of all ~osts and expenses in- curred) apply such rents, issues and profits received by it on the indebtedness securcd hereby in such order as Mortgagec detrrn~ines. The right ta enter and take possession~~~f the Mortgaged Yroperiy, ta manage and operate Ihe same, and io ~ cal!ect the rents, issues and profits thereof, whether by a receiver or olherwise, sfiali bc cumulative ta any other right or . remedy hereunder or aiforded by law, and may be exercised cancuccc:ntly therewith or independently theree~f. Mor~ga- ~ gee shall bc liable to account only for such rcnts, issues and profits actually received by Mortgagee. , ~ 14. If the indebtedness secured hereby is nc~w orhereafter further secured by chattel mortgagcs, security inter- ~ ests, financing statements, pledges, coMraels of guaranty, assignments of leases, or other securities, or il' the Mort- ; gagee! Properiy h~ceby encumbe~ed consists of more tt~an one parcel of real propesty, Mo~tgagee may a1 its opti~n ex- 1 haust any one ar more of said securities and securiry hereunder, nr such parcels otthe security hereunder, eitherconcur- rently or indeperedenlly, and in such otder as it may det~rn~ine. Y ~ - ; ~ - IS. This Mortgage sha{{ secure nat onty existing indebteclness, but also such futs~re advances. whether such ~ ~ advances are obligatory or to be made at the aption of l~1qrigagee, ur otherwise, as arc maJc within twenry (20) year~ ; from ~he date hereof, to the same extent as if such future advances were made on the date af the execution of this Mort- ~ gage, but such secured indebtedness shall not exceed at ~ny time the maximum principal amount of~3~e~ilieox~xbe ~g~g~~ the Note. plus interest thereon, and any disbursements made for the payneent of taxes, levies. or insurance, ~ on the Morigaged Propetty, with interest on such disbursements. Any such ~uwre advances, whether abligatory or to be ~ made at the option of the Morigage~, or otherwise, may be snade either prior to or after the due date of the Note or any other notes secured by this Mortgage. This Mortgage is given for the specific purpose of securing any and all inJebted- ness by the INortgagor to Mortgagee (but in no event shall the secured indebtedness exceed at any time the maximum ~ principal amount set forth in this paragraph) in whatever manner this indebtedness ma~• b~e evidenced or represented, until this Mortgage is satisfied of record. All covenants and agreements contained in this Mortgage shall be applicable ~ to all Cunher advances made by Mortg3gee to Mortgagor_under this future advan~e c{ause. ~ ~ . ~ Ifi. No delay by Mortgagee in exercising any right or remedy hereunder, or othenvise afforded by law, shall ~ operate as a waiver thereof or preclude ihe exercise thereof during the continuance of any default hereunder. No waivcr ; by Mortgagee af any default shali constitute a waiver of or consc•nt to subsequent defaults: No failure of Mortgagee to f exercise any option herein g+ven to accelerate maturity of the debt hereby secured, no forbearance by Martgagee beforc ~ or after the exercise of such option and no withdrawal ar abandonment of Coreclosure proceed'+ng b~ Mastgagee shall bc ~ taken or construed as a waiver of its right to exercise such option or to accelerate the maturiry uf the de6t hereby secured ~ by reason of any past, ~esent or fuwre default on the part of Mortga~or; and, in like manner, the prvcurement of in- ~ suranre or the payment oi' laxes or other liens or charges by hiorigagee shall not be taken or conswed as a H~aiver of its ~ right to a~celerate the maturity of tfie debt herebu secured. : 17. Without afl~ecting the liability of Mortgagor or any other person (except any person expressly rcteased in writing) for payment of any indebtedness secureci hereby or for perfoimance of any obligation contained herei~, and v~ithout affecting the rights of Mortgagee with n:spect to any security not expressly teleased in writing, ~lortgagee may, at any time and from time Eo time, either befo~e or after the maturity af said note, and witi~out notice or consent: (a) Release any person liable for payment nf all or any pa~1 of the indebtedness or far pe~formance of any ~ obligation; " . ~ . . ~ (b) . Mafce any agreement extending the time or otherwise altering the tern~s of payment of all or any parl of the indebtedness. or cnodiCying oc waiving any obligation, on subc~sdinat'sng, mo:iifying or otherwisz dealing with the ` lien or charge hereof;- E- - - . ~ - z ~ ~ (c) Exercise or refrain from exercising or waive any right Mortgagee may have; ~ t (d) Accept additional security of any kind; an~ ~ ~ ` ~ (e) Release or otherwise dea! with any property, real or personal, securing the indebtedness, including ~ ~ all or any part of the i4lortgaged Property. . . ~ t 8. Any agreement hereafter made by Mortgagor and Mortgagee pursuant to this morigage shail be supetior to ~ ~ the rights of the holder of any intervening lizn or encumbrance_ ~ ~ !9_ Mortgagor hereby waives all right of homestead exemption, if any, in the Mortgaged Property. a - ~ ~ ~0. In the ev~nt of condemnation proceedings of tfie Murtgaged Prope~y, the award or comp~nsation payable ~ thereundEr is hereby assigned to and shat; be paid to t~loctgagee. Mortgagee shall b., under no obligation to question the ~ amount of any_such aw~ard or compensation and may accept the same in the amount in which the same s6all be paid_ In - ~ any such condemna:ion pmceedings, Mortgagee m~y be represented by counsel selected by Mortgagee. The prc~ceeds o~' any award or comp2nsation so received shall, at the option of Mortgagee, either be applied to the prepayment of the ~ Note and at the rate of interest pruvided therein, regardtess of the rate of interest payable on the award by the condemn- ; I ing authority, or at the option of Mortgagee, such award shal{ be paid over to Mortgagor for restoration of the Mort- _ I ~ gaged Property. i ~ { 21. If ?titortgagee, pursuant ro a conswction loan agreement or loan commitment made by Mortgagee N~ith ~ ~ Mortgagor, agrees to malce construction loan advances up to the principal anx~uut of the Note, then Mortgagor hereby f covenants that it will ~omply with all o~the terms, provisions and covenants of said constnic~ion ioan agreement or loan s . ccmmitment, will diligenNy construct the im~ravements to be built Qursuant to the terms thereof, al! of the tertns tfiere- ~ of which are incorporated herein by reference as though set forth ful ly herein and will permit no defaults to occur there- under and if a default sha!E xcur thereunder, it shall canstitute a default under this Tviortgage snd the Nate. ~ 22. At the optian af Mortgagee. Mortgagor shaH provide Mortgagee with period~c certitied audited state- ments of the operations of and the f nancial cond'stion of Mortgagor. ~ ao~ 389 pA~~ ~29 ~ ~