HomeMy WebLinkAbout0250 16~. Sorrowu'a Riqht to S~ioatat~. Notwithstanding Lender's acceleration of the sume eecured by thia Mort-
- gsge, Borro~rer ahall have the right to have any proceeciiags l,egun bv I.encier to entoree thia :~tortgage diaeoa- ~
b tinued at any t~in~e prior to entry oi a judgment enforcing tt~is \iortgage if: ta) Borrower pays I.otider all swna
whiuh woutd be then due under this 1~iortgage~ tl~e Note and notes securing Future Advances, it sny, hsd no aecel-
~ eration oceurred; (bj Borrower curea all breaches oi any other co~~ena~tR or agrcen~ent$ ot Borrower coatained in
~ this Mortgage; (c) Bormwer paya all reasonable expenses incurred by Lender in enforcing the coyenanta and
agreeunente of Bon+ower contained in this Mortgage and in enforcing I.ender's remedies es pmvided ~in paragraph
` 18 hereof, including, but not limited to, reaeoaablc attorney's fees; and (d) 8otrawer takcs sucl~ sction as Lcnder i-
~ may reasonably require ta assure thet tl~e lien of this \tortgage, I.ender's interest in tbe Propert,y and 8ormwer's "
~ obligation to pay the sums secured by this Mortgage shall coatinue unimpaired. Upon such payment and cure by ;
C, Borrower, this Mortgage and the obligations secureci 1?ereb~ sl~all remain in full force and e~'ect as ii no accelera- '
~ tion had occurred. ~
~ Z0. llasigament o! Aenb; Appointmeat o~ R~ceiv~r. As additional security hereunder, Borrower l~ereby i'
b assigas to Lender the rents of the Property, provided that Borrower ahAll, prior fo acceleration under ~t~~raph - ~
~ 18 hereof or abandonment of the Property, ha~~c ti~c right to cotlect And retain sucl~ r+ents as they become due and
~ t~ PaYable.
~ n ' IIpon acceleration under paragraph l8 hereof or abandonment of tl~e Property, Lender shall be entitled to
<r ~ hsve a receiver appointed by a court to enter upon, takP possession of and manage the Property and to collect the
rents of the Property, including those ~~ast due. All rents collecteci 1~~ the receiver shall I~e applied first to payment
-`of the coats of management of the Property aud collection of rents, inctuding, but not limited to, receic•er'a fees, f
4` preaniums on receiver's bonds and reasanabte attorney's fees, and then to the sums secured hy this'.?iortgage. The i
t,'~ ~ reeeiver ahall be liable to account only for those rents actually received. i
ZI. Futur~ Jld~aac~~. Upon request by Borroaer, Lender, at I.ender's option within twentv yeara from the
~ date of this Nortgage, m~y make Ptiture Adti~ances to Borrower. Sucli Future l~dvA~ces, with interest thereon, ahall.
be seeured by this A'Iortgage ~vhen evidenctd by promissory notes stating that said notes are secured hereby. At no
v~ time shall the principal amount of the indebtedness ¢ecureci l~y this Mortgage, not including sums advaaced in
accordance herewith to protect the security of this ~iortgage. exceeci the originai amount of the Note plus
J ~~:j ~=__32,500.00---------•
~i 8elaa~e. Upon payment of all sums secured bv this \iottgage,l,ender shall release this ~iortggge without ~
v, 4 charge to Borrower. Borrower shall pay all costs af recordation, if any. .
Ix Wrrx$ss Ws~~oF, Borrower has egecuted this Mortgage.
Signed, sealed and deliver .
in sence of :
~ - = - - - - - ------------(Seall
-
S.Thames Hamiltcra, Jr =
Bormwer -
, • D
- - ~ - `-l,~ - - -----(Seal)
Blanche K. Ha~ilton
_3l~k.Z-_S..--.Iadiaa-Yi~~Dtiva-------------
_l~ct~ietce,_1~1a._
Property Addrrae ~
ST~TB oF Fr.oxme, -.---indian River.-- - Conntp ss: .
I hereby certify that on fhia day, before me, an officer dnlv authorized in the st~te nforesaid and
in the county aforesaid to take ~iowledg'ements, personallv appeared ___~...TH~11S _~L~O~i,.JB..
and BLAI~HB_ l~.__EAH7LI~O~,his._.~o me known to be the person(s) described in and who eaecuted the
fdregoing instrument and acknowledged before me that tbeY execnted tbe same for the purpos~
therein eapressed.
Wrrxsss my hand~and of~icial seal in tl~e county and state aforesaid this a.~__________ day of
-------------------~!?S~t---------=-~------------ --.,19 _._7_S_-----------.
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