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3~.9 ~~68~
It is understood and agreed~ however~ and specifically made a
part of this agreement~ that it is not to operate unless and until when,
as and if there is a default in connection with the paya~ent of principal~
interest or the observance of performance of any of the terms and condi-•
tions of a certain mortgage in the sum of SIXTY FIVS TNOUSAND DOI.I.ARS
(=65=000.00) executed by the undersigned as mortgagors, dated
1966, and filed for record the ~ lJ day of
1966~ under Clerk•s No. `rr -/d/~~Public Records ef Lake County~
Florida and filed for record the 30 ~day of 1966~
under Clerk~s No. /Y-~~~a-~ Public Records of St. Lucie County~
Florida, securing the payment of a note in the like amount and encum- ~
bering the above described real property; further, that in the event
there is a default~ making this agreement operative, that in the collec-
tion of said rents the assignee herein named shall f irsfi charge against
said collection reasonable expenses in connection thereWith, the balance
to be applied as follows:
I. Te the pay~ent af interest;
2. My balance then remaining, to be applied against
other obligations set forth in said mortgage;
3. My sums remaining to be appliea to principai;
4. Balance, if any, to be held for the benefit of the
parties, as their interest may appear; provided,
however, in the event such default is cured, that
; that portion of said balance held for the benefit
~ of the undersigned shall be paid forthwi.th to the
; undersigned.
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~ The undersigned, jointly and severally, do hereby consent and
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E agree that TUCR&B & BRANHAM, INC., its successors and assigns, may
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~ in case of default in connection with the payment of the sums repre-
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~ sented by the mortgage above described, or the observance of the other
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@ terms and conditions therein contained, enter into and take possession
E of the property hereinabove described at its option; it being further
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~ understood and agreed that in the event the said TUCK~R & BRANNAM, INC.,
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~ its successors or assi.gns~ should exercise the said option to take
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