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16. When any amount of mosey to be paid by the Mortgagor co the Mortpgee under the terms hereof ahsU be is default, or
• :ttould the Mortgagor default in say of the terms, provbioas or conditions of thin Mortgage, then and in that case the Mortgagee
shall have the right, without notice to the Mortgagor, to collect and receive from any tenant os lessee of said morytaged premises
the tens, issue: sad profits of the real sate hereby mortgaged. and the improvements thereon, and to give proper receipu and
scquittaacea therefor, sad after paying all commiasiotu of say renal agent collecting the acme, and any reasoaabk attorney's
ka and other neresaary expenses ktcurred is collecting same. to apply the proceeds of such collections upon any indebtedness.
obligation or liability, of the Mortgagor hereunder. The right gaated the Mortgagee under thi: paragaph shall be is addition co,
sad shsU not limit or reaMct any other right or fights granted the Mortgagee is this Mortgage.
17. That in the event that thL Mortgage is given to secure a coaatruction loan, failure on the part of the Mortgagor or the
Mortgagor's contractor, architect. engineers. or sub~rnatractors to comply azw a:a *e*+nt of the Conatrucaon Loan Agreement
dated which is by reference incorporated herein. shall, at the option of -
the Mortgagee, constitute a default hereunder.
18. In the event that the Mortgagor makes payment by eheck or checks that the Mortgagor has failed to properly endorse, the
Mortgagor does hereby appoint the Mortgagee as its alto-re•;-i:~.fact to supply on behalf of the Mortgagor any sad aA endorsr
meats necessary to negotiate said check or checks and the Mortgagor agrees to hold the Mortgagee harpxless from any liability
whatsoever for supplying said endorsement. Ia the event the Mortgagee shall cash a check for the Mortgagor and same shall be
returned for insufficient funds or say other reason so that the Mortgagee is unable to collect its money, then the Mortgagor
hereby authorizes the Mortgagee to add said sum to the principad ba4nce of this Mortgage sad said sum shall be secwed by said-
_ .
Promissory Note and Mortgagt as though it was an additional advance under the terms and conditiotu of this Mortgage.
19. IT IS MUTUALLY CONVENANTED AND AGREED by and between the parties hereto that upon request of the
Mortgagor, the Mortgagee may hereafter, at it option. at anytime within ten (10) years from the date hereof and before full pay-
ment ofthis Mortgage sad Note(s) secured hereby, make further advances to the Mortgagor and any such further advances, with
interest, shall be secured by this Mortgage and shall be evidenced by an additional Note they unpaid and the total amount of
indebtedness that may be secured by this Mortgage may decrease or increase from time to time, but the total unpaid balance so
secured at any one time shall not exceed the maximum principal sum of:-____ _ together with
interest thereon and say and aU disbursements trade by the Mortgagee for the payment of axes. levies. or insurance on the piu~
perty covered by the lies of this Mortgage with interest on such disbursements at the rate specified in the Note referred to in this
Mortgage, and for reasomble attoraey~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
Sign sealed attd delivered in the presence of:
_ - _
~ - -
F. D , 31t. -
458649
J919 Sf P 13 Pty 2~ I 0
S1 LI
CAf
C RE TOY}tQFEIlA•
STATE OF ~ F 1 o r i da ~ r ~P~~ITC AS
COUNTY Ol; Po 1 k -~~'~,r +
RECORQ KERiF1Etl~• .
Before me personally appeared Merle F. Diajbath, Sr •
to me weU known and known to me to be the individual- described in and who executed the foregoing instrument,
E and acknowledged before me that _h~ executed the same for the purposes therein expressed
~ WITNESS my hand and official seal this 30th ~y of Au uSt ,v 79
.t-,r- ~ Noary Public in and for
y'~~~~?-
=,(~:S the County and Sate Aforesaid.
` ~
" J ~ = ' = My commission expires:
- - ;~lotary Pti6tic, State o1 Florida at largo
p F 10 Ctsmacssioa Expires ltiy 28, 1981
1 ~ p r ~ ss. `^~aa w.~..K.. r.. a c.,n+rr caw..r
~9t' ; PSi? ~ ,
j~''$Rf~,~~lty appeared
~''+++itiitt+~~1, , to me well known and
and
known to me to be the President and Secretary
respectively of ,the corporation
named in the foregoing instrument, and known to me to be 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 executed as such officers for the purpose
- therein expressed; that the seal thereunto attached is the corporate seal by them in like capacity 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-
Noary Public in and for
the County and Sate Aforesaid.
My commission expires:
This instrument prepared by:
First National Bank Qt Trust Co. of Stuart sip
Sharer g. Welliver ~x3~s lA.~
tan n...a.e. -,a,~ 6JfIK Pl6E~v