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Home My WebLink About0940 , s . ~ ~ , ~ ~ , . • ~ ' ' " . ~ ~ ~ ' as uriry for the Nute, tu have ~i rerei~~c~ appaintcd ta enter upun anci take ~?sscssion of the ~viarigaged Pra}~rty, ro{- ~ Iect the rents and pn~fits therefn?m and apply the same as the cuurt may di~ect, such receive~ to have all the ribht~ ~nd ~ ~w~ti~cn ~wrniiited undrr ihc laws of Flarida. t . ~ !i~ either such cuse, Mortgage~ or the receiver may also take possession af, and for these purFx~ses usc, any und ` ail ~x•rsunal pn~~xny which i~ u part of the M.~rtgaged Pro}~erty and used by Mo~tgagur in the rental i~r leusing the~:i~f i~r any pa~1 thereuf. The expense (including receiver's fees, c~~unsel fees, costs and agent's compcnsatian) incu~d pu~u- i anl t~i the ~x?wers hen:in cantuined tihall be secun:d he~eby. Mortgagec: shalf (aRer payn~ent~af all cosls and exExnses in- } cumeil) ar~~ly such rents, issuec and protits rcceived by it on the inde6tedness s~:cured hereby in s~,~ch order as Mortgagee ! determi~ties: Thc right tu cntcr and luke pu~session uf thc Mc~rtgagcd Property, to manage and operatc thc same, anJ tu rullect the i-ents, issues and pn~fits thereuf, whether by a r~ceiver ar otherwise, shall be cumulative ta any other right c~r i remeJy hercunder a~ affunled by law, and rnay be exercised concurrently therc;with or independently theceuf. h1on~;a- i gre shall be (iable to arcuunt only for such rents, issues~and prafits actually ~ceived by Mortgagee. i ~ 14. If thc indebtedncss ~ecured fiereby is now ur hereafter further secured by chattel nwrtgages, serurit~• inter- _ e~ts, tit~ancing stntentents, pledgcs, rantracts of guara~ty, ass+gnments Uf leases, or other securities, or if the h9ari- gugrd 1'n~Exrty hen~by encumt~ered consistx af more than one parcel af real prapecty, Mongagee may at its uptiun ~_x- haust uny one or mute of said securities and security h~reunder, or such parcels of the security hereunder, either concur- rently ur indcpcndrntly, and in s~~ch urdcr as it may determine. IS. This Mortgage shall secure not only existing indebtedness, but also such future advances, w~helher such ad~~;~nccs ~re abligatury or t~~ be made at the option,of M~;rtgagee, or otherwise, as are made wilhin twenty (20) ycars t'rom the ~at~ hcrcoF, ta the same extent as if such fuwre advances were made on the date of the execution of this Mort- ~ gagr, but surh secured indebtedness shal! not exceed at any timc the maximum principal amount af otu~S~~Wc ~ ~60d!l11~~t~[ the N~~te, plus interest thereon, and any disUursemcnts made For the payment of taxes, levies, ar insurance, un th~ Murtga~ed I'cupe~ty, with interest on such disbursemcnts. Any such future advances, whether obiigarory c~r to be f made at the ~~ption of the Mortgagee, ~~r oth~rwise, ma}~ be made either prior to or aRer the due date of ~he I+lote or any ~ uther nutes se~urcd by this Murtgage. This Mortgage is given for the specific purpose of securing any and all indebted- ~Jt ness by the hlortgagor tu Ma~tgagee (but in n~ eve~t shalt the secured indebtedness exceed ~t any time the maximum y+l~ principal umuum set forth in ~his paragraph) in whatever marlner this indebtcdness may be evidenced or represcmed. unlil this Rtortgage is sntistied of record. A:t covenants and agreements contained in this Mortgage shatl be applicable tu a11 fuMher advances made by l~tarigagee to Mo?tgagor unde€ this future advance clause. ~ I G. Nu delay by Mortgagee in exercising any right or remedy hereunder, or ottaerwise af(orded by law, shall • ~ u~~ernte as :z waiver lhereuf or preclUde the cxerci~e thereof during the continuance of any default hereunder. No waiver 'p ~ by ~1~~cigagee of any defauit shaN cunstitute a waiver of or consent to subseyuem defaults. No failure of MoRgagee to : exrrrisr uny uption herein giver~ to accelerate maturity of the debt tiereby secured, no forbeasance by ~lortgagee befure 11) ~ ur af~er thc exerrise of such option ~nd na withdrawal or abandanment of foreclosure prcxeedir.g ~iy Mortgagee shall be : ~uket~ ur runstrued as a waiver of its right ro exercise such option or to accelerate the maturity c~f the debt hereby secured ~ ~ ~ hy reason of any past, present or t'uture de~ault on the part of Alortgagor; and, in like manner, the procurement of in- ~uranre ur the payment of taxes or other liens or charges b}• 1~lortgagee shali not be taken or construed rs a waiver of its # ~ right tc~ arcelerate the maturity of thr debt hereby secured. . ~ 17. Without affcctin the liabilit • of hturt a or or an uther rson (exce t are rson ex ressl released in ~ g } g S Y Pe P Y Pe P Y ~ wriling) far payrrt~nt uf any indebtedness securrd hereby ~r-for performance of any obligation contained herein, and wilhout affecting the righls of Mortgagee with mspect to an~• security not expr.ssly released in writing, M~rtgagee ~ ~ tnay, at airy titne aad from time to time, either be[ore or aCter the maturiry of sa+d note, and without notice or consent: _ F. ~ (a) Kele:~tie any person liable f«r paymen: uf all or any part of the indebtedness or for performance c~f any ( ~ ~ ubligution; _ - S I (b) hlake any agreeutient extcnding the time or ~therwise aitering ihe terms at paymcnt of ali ur any pan ~ ~ ~i~ dfi;s; indebtedness, or mociifying or waiving any obliga!ion, on suUordinating, modifying orotherwisedea!ing v~~ith the - ~ - (ien ur rharge hereot; , _ . ~ Exercise or refrain from exercising or waive any righs ~iorigagee may heve; # ~ i iJ) i'~cc~pt additional security of any kind; and. ~ ~ (e) Release or otherxise deal with any propeny, real or persanal, securing tfie indebtedness, including ~ ~ al) or any part of 1he M~rig,aged Property. - ` ~ I 8. Any agreemenl hereatter made by Mortgagor and Mangagee pursuam to this mortgage sha11 be superior to - ~ the righls uf the holder c~f any inten•ening lien or er.cumbraRCe. i9. Mortgagor hereby waives all right of homesteacl exemption, if any, in the Morigaged Pro~rty. , . . ~ 20. In the event of condet~~nation proceedings of the Mortgag~d Property, the award or compensation payabte ~ thercunder is hereby assiined to and shall be paid to Mo~tgagee. Mortgagee shalt tre u~der no obligativn to question the ; - . :~muunl of any such award or compensation and may accept the same in the amount in which the same shz!! be paid. !n any such condemnatio~ proce~edings. Mortgagee may be represented hy counsel selected by htortgagec. The proceeds ~ of a~y aw~ard or compensativn se~ received shall, at the option of Mortgagee, either be ap~lied to the prepayasent of th~ f~, Note and at the rate of interes~ provided therein, ~egazdless of the rate of interest payable on the award by the ccx~~rnr- ing authotity, or at the option of Mortgagee. such award shall he paid c~r•er to Moregagor foc restasation of tfie ~1ort- ' gagcd Property. _ ~i: - 21. ff Mortgagee, pursuant to a consttuction loar~ agreemcnt or loan commitment rnade by Mortgagee w~ith - M~ttgagar, agrees lo make construction loan advances up to the principal amount of the Note. then Mortgagor hereby rnvenants that it will comply with all of the terms, provisions and co~enants of said construction loan agreement or loan ~ commilment, will diligently conswct the improvements to be built pur~uar~t to the terms thereof. at! of the terms there- of which are incnrporated herein by reference as though set forlh fully herein anci will pertnit no defaults to c~ccur tl-~ere- uzcler an~i if a dPfault shatl occur thereunder, it shall constitute a default under this biorigage and the Note. f - 22. At thc isption oi Mortgagee. Mortgagor shaN provide Martgagee w~ith periodic certified audited slate- ;nentc of the operaliens of and !he f nancial condition of Mortga~or. ; ao`~ 3~ P~cE ~ . _ _ - - - - - _ -