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iM1~ 1~11 ~~1a ~~~Ol~My wlvWYt ~a~ a~ illCti ~~N ~~MM~M~ sTld 1OtYlv10~ pi~mitlllr. A11
~NAb mM~ II11~! ~ as~ Ot i0a lllb~t ~ a0~ NlY~ i~Q ti0trl~Ni iDd ~ ~
~a ~OOWIZ ~Ot ~ ~ ~ ~N ~Ol~ ~ i i~0~ ~At NCh D'~0~1t~1 =O ~ ~ja~ b~ ~ YO!!jM a
e~.. is pa~n.at ot W. lbm..sa fa tL. o~r touo,.Ja~: i
(s) 1~M asd aa~nb. aud iarnrs~ pn~alnn+~; #
(b) int~s! oa tL~ noa .~enerd bsrebr: i~nd ~
~ (e) Amo:tls~ioa ot tL~ PrG?ciPal oi satd not~. f
/l~ de8eieae~r la tlr amonn! oi sneh a~sta montbqr pym~nt s~all eonslitnt~ a dtisalt nnd~r tbls mo~is~.
WLsa sQeh tues. awum~ats and ia~nr~nes p~smtums !aU dn~. ii tbs aawanb d~podt~d b~ l[w~a~or ior ~neh par~
pow ars aot aniticient to pq pid ~ca. aws~meab ~ad inutsna pr~mtam~. a~ t1N eaM m~,~ bR tbea dn~. tLs l[or6~
ia~ll
dne, it t~h~ amonnb depodted b t~s
Yo~rtsa~or
lo~eh Wh~a socb t~cy. aaeaa~nb ~nd iiunr~na prsminm~
ments aad inanrano~ P~ ezceed ~ tl~ amonab dn~ !or sueh ta~. aaw~
pre~dnm~. tbs atos~ may. in tbs dLcrstion oi tbs ldortt~. b~ spplied on snD~sqosnt montht~
~ pymanfs to M mad~ b~ tLs Yort~ajor. In the eveat ot dsianlt nndar tb4 mortss~s W una~cp~snded i~ad~ In tbs
bands oi tbs l[ortsaree dspaited b~r tbs l[ortsaaor to mee! t~e oblitatlons oi t~e~. aeeeamanb and iwnr~no~ premium~ '
sball be applied ~ tl~s Yortsarss npoa tbe indebtedne~s hersb~ ~eearsd. in the followin~ ordar: Intsrest on ad- ;
' ~anoe~ m~de b~ ths l[ort~agee: (b). Advaaeea made by ths l[ortaa~es: (e). Interat on tLs principal; and (d) tbs pria. ~
eipai debt bersb~ ~eeared. W6en aetT sach taze~. aa~essmeab or insarancs prsmium~ iall dus the l[ortgsaor will promp~ i
l~ oDtsia aad delivsr to tbe Yortgaaes statannenb wlth respsct thaseto. - t
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la. This mortaa~s abslt sl~o asenrs additionai Ioans banafter made by ths tl~en holder ot tbe note ~scp~d bereb~ ~
~ to tbe then'a~vner oi tbe rsal ertste de~eribed berein. provided tbst no ~nch additlonal loan sLsll bs au?de 1t tbs malcins
thersoi won~d e~ws tbe toW prineipal indebtsdnea secarad Lereby to e~cceed t~e smonnt oi ths ortsin~l PrIncIP~1~ in-
debtsdnees sbbtl'd Ls:ein. Each snch additional loan ahall bs evidenosd b~ a note or otber evideace oi indebtadnea ideatt-
- tytus snch addiNanal loan as paxt ot tAs indebtednas ~cnrsd be:+eb~, and abal! matnr~ not lster t~an ths tben mstnsit, ,
dsts oi tLs o~'18iaalindsbtedneas aacnred hereb~ NotbIng herain contained shaU im I an ob €
~ holder oi said aob to malcs ao3? snea ~kiitloaal loia. P 7 7 1~tloa on tbe 1~ oi sny ~
2~. ]dortaagnr heteb~ aasigns to l[ozlgaaee an~ and all awaerls or dam~ges, actaai ~nd con~eqnential, ior tbs h1c ?
int oi any portion or all oi the tnortgaged premi~a. b~ the eiercbs oi tbe ri~ht ot eminent domain or oondamna- ;
tlon, ineladin~ bnt not limibed to dsm~g~es or award~ ior ebsages to the ~rades oi ~reeb. os aeeinirin~ tit4 to ste~ssb. ~
Ths proeesds ot ~nch award~ or dam~g~ea, whan received by Yortsa~se, sbnt! bs applfed !n rsduetion oi tbe most~sg+e ~
indebtedner. :
. 15. This nortgage aecures future advances uader the provieions of Sec. 697.04
of tbe Florida Statutes Aaaotated, as presently moended, vhich eaid advences aha21
not ea~ceed the maxim~ principal emount•of $23,600.00. T6e :tntitial advances are
to be made tn accordance vith a Construction Loan Ag~ceement betw~een t6e Mortgagor
and the C~struction Lender, St. Lucie County Baak, wLicb $aid agreeaent is open
for inspection at the office of said Construction I~ender. Said Constructian Loan ;
. Agreement is incorporated herein by reference, aad aay defsult by the Martgagor ~
t.bereunder shall be an event of default under this moactgage. _ '
;=~``~~~`peVrmarieat'.~mor gageafinancing, and Whensc atruction$has been ccoagZetedeandethe
~ cL~'';' -terms of tlie aforementioned Canetruction Loaa 4greement have beea fnlly performed
= and satisfied, said Canatructian I.oan Agreement sball have no further force or,
~-~ffect aad only the terms and provisione of thie mortgage and the note thereby
~ aecured sha21 thenceforth be applicable.
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