HomeMy WebLinkAbout0567 • ~ 16. Whey any amount of tnoaey to be paid by the Mortgagor to the Mortgagee under the terms hereof shag be in default. or
• sbould'the Mortgagor default in any of the terms, provWons or conditbas of this Mortgage. then and la that ase the Mortgagey
,ball have the right. without notice to the Mortpgor. to collect and receive from nay tenant or kasee of said mortgaged prpmisq;
the teats, iaues and proRts of the real estate hereby mortgaged and the improvements thereon, attd to give proper receipts and
acquittances therefor, sad after paying sq commissions of any rental agent collecting the same, sad Bay reawaabk attorney's
fees and other necesssq expenses incurred in collecting same, to apply the proceeds of such collections upon any indebtedness,
obligation or Uabiliq, of the Mortgagor hereunder. The right granted the Mortgagee under this paragraph shall be in addition too _
and ,hall not limit or restrict nay-other right or rights granted the Mostgagee its this Mortgages
17. That in the event that this Mortgage is given tai secure a coastructioa loan, failure on the part of thr Mortgagor or the
Mortgagor's~~ntractor, architect, engineers. or subcontractors to comply with the terms of the ConstructIoa Loan Agreement
_ dated N _ whkh b by reference incorpoated herein, shall, at the option of .
the Mortgagee, constitute a default hereunder.
18. In the event that the Mortgagor makes payment by check or checks that the Mortgagor has tailed to properly endorse, the
Mortgagor does hereby appoint the Mortgagee as Its attorney-itrfict to supply on behalf of the Mortgagor any and aA endorse-
ments necessary to negotiate said check or checks sad the Mortgagor agrees to hold the Mortgagee harmless from any liablUry~
whatsoever forsupplytag said endorsement. Its the event the Mortgagee shall ash, check-fof the Mortgagor sad same ,hall be
returned for insuElicieat funds or nay other reason so that the Mortgagee is unable to collect its mosey, then the Mortgagor
hereby authorises the Mortgagee to add said sum to the prindpsl balance of this Mortgage sad said sumshall be secured by said
Promiaaory Note sad Mortgage sa though it ws: an additiotW advance under the ternns sad condition, of this Mortgage.
19. IT IS MUTUALLY CONVENANTED AND AGREED by and between the parties hereto that upon request of the
Mbttgageti-they ee may hereafter, at it option. at anytime within tea (10) years from the date hereof attd before full pay-
ment ofthis Mortgage ed hereby, make further advance, to the Mortgagor and nay such further advances. with
interest, shall be serrated by this Mortgage a evidenced by an additional Note then un i unto _ A
indebtedness that maybe secured by this Mortgage may crease fro ut the focal unpaid balance so C~~/ X
secured at any one time shall not exceed the maxi sum of = ~ 0 ~•/J
interest thereon and m and all dis b the Mort together with . `
Y y gagee for the payment of taxes, lev es. rance on the pro-
perry covered by artgage with interest oa such disbursementt at the rate specified in the Note re o in this
Mo or reasonable attortyey's fees and court costs incurred in the Collection of any or all of such sums of money.
IN WITNESS WHEREOF. the said Mortgagor has executed this mortgage under seal on the day and year herein '
first above written
ed, sealed sad deUvered is the pr race of ~ .
C~ -
A ~ ERT SOLLAZZO
19193.~P ~ 1 .PH ~ 20 -
STATE OF Florida a~T
coUNTY of Martin u- ~~Q
Before me personally appeared ALBERT SOLLAZZO 4SSO86
~ ~ dad known to me to be the individual-described in and who executed the foregoing instrument,
. arid~f~C,~ before me that _h~ executed the s~tge for the purposes therein expressed.
~
y`~ ~,~,~'..s,~~tnj? hand and official seal this day of_~te~ober
~ ~
: ~s: s
i ` ~ - Notary Public ~ and for
Q . _ . -t: ~ ~ ~ the County and State~p,~yaA~ _ -
_ ~-1- -
p110R1f11?
~ . ~
: ~ _My commission expi~M~ ~
. ~L'Q'UA1 E`" ~fio 11~14ieAL tla_ ~watldS
~f, s_
- Before one per lly appeared
and , to me well known and
known to me to be the President and Secretary
respectively of ,the corporation
named in the foregoing instrument, and known to me to the persons who as such officers of said corporation, executed
the same, and then and there the said and the said
did acknowledge before me that said
instrument is the free act and deed of said corporation by them respectively exec as such officers for the purpose
therein expressed; that the seal thereunto attached is the corporate seal by them in like a affixed: all under authority
in them duly vested by the Board of Directors of said corporation
WITNESS my hand and official seal this day of , 19_
. Notary Public in and for _
the County and State Aforesaid.
My commission expires:
• Thi strument prepared by: -
First 'onal Bank do Trust Co. of Stuart
P.O. Drawer 231 ~ _
Stuart. Florida 3349 8~~~~ P~