HomeMy WebLinkAbout1400 . 16. When any anwunt of ttmnry to be paid by the Mortgagor to the Mortpgee under the terms hereof shsll be in default. or
should the Mortgagor defiult in any of the terms, provisiotu or conditions of this Mortgage, then snd in that cue the Mortgagee
.:lull have the right. without aotke to the >tortgagor, to collect and receive from any tenat?t or lessee of said mortgaged premises
the rents, iaua and profits of the real date hereby mortgaged and the improvements thereon, and to glue proper receipts and 1,
• acquitances therefor. and afar paying aq cotnmtr:tons of any renal agent collecting the same. and any reuonabk atroraey's
fees and other accessary expetues incurred its collecting same, to apply the proceeds of such collections upon say indebtedness.
obligation or liability, of the Mortgagor hereuader. The right granted the Mortgagee under this paragraph shaA be in addition to.
and :hall not WNt or restrict any other right o: rights granted the Mortgagee to this Mortgage.
17. Tlut in the event that this Mortgage b given to secure a coastcuction loan. fillure on the part of the Mortgagor or the
Mortgagor's contractor, uchltet.•t, engineers, or sub•rnntractoa to comply Math the terms of the Cotutruction Loan Agreement 1
dated whkh is by reference incorporated herein. shall, at the option of
the Mortgagee, cott:titute a default hereunder.
18. In the event that the Mortgagor makes payment by check or checks clot the Mortgagor hu fined to properly endorse. the
Mortgagor does hereby appoint the Mortgagee as its attoracgin-fact to supply on behalf of the Mortgagor any and aq endorse- '
men: necesary to negotiate said check of checks and the Mortgagor sgrea to hold the Mortgagee harmless from any liability
whatsoever for supplying aald endorsement. In the event the Mortgagee :ball cash a check for the Mortgagor attd same shall be
returned for inauflkient funds or any other reason so that the Mortgagee b arable to rnllect is monry. then the Mortgagor
hereby authorises the Mortgagee to add acid sum to the prinNpal ba4nce of this Mortgage and said sum shall be secured by said -
Promissory Note and Mortgage ss though it ws;_ut additional advance under the t=rms and conditions of this Mortgages
19. IT IS MUTUALLY CONVfiNANTED AND AGREBD by and between the parties hereto that upon request of the
Mortgagor, the Mortgagee troy hereafter, at it option, at anytime within ten (10) years from the date hereof and before fop pay-
ment ofthis Mortgage attd Note(s) secured hereby. snake further advances to the Mortgagor and any such further advances. with
interest, shall be secured by this Mortgage and shall be evidenced by an additiotul Note then unpaid, and the coal amount of
indebtedness that maybe 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 prindpal sum of = - _ together with
interest thereon and any and aU disbursements made by the Mortgagee for the payment of taxes. levies, or insurance on the pro-
petty covered by the lien of this Mortgage with interest on such disbursements at the rate specified in the Note referred to in this
Mortgage, and for teasomble attorney's-fees and court costa intoned in the collection of any or all of such sums of money..- - - - - -
t
IN WITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first above written. -
Signed, sealed and delivered in the presence of:
__f - -
MI RS
ERS
STATE OF FLORIDA
ss. -
COUNTY OF tKARTTN -
Before me personally appeared MICHAEL R. CHAMBERS ik RUTH M. CHAMBERS (h~$~ r•~g~,%~a_
to me well known and known to me to be the individual-described in and who ex~_
ctt[e1~' ; '`'A 'ant,
and acknowledged before me that _he_ executed the same for the purposes the in exp ~ ~ ' ~
N~ y
_ _ f
~ -
WITNESS my hand and official seal this day of
~ :mss .
i3T9 SEP 13 PH ~ 22 Notary Public in and for ~r•,.tt n.
- the County and State Af ~ ~ biti~~tstc-l`fI •,,a at large \q
F EO AND RECOt~OFU
S~LUCIE COONTY.FLA. My commission expires• C0.'n~::+ssian :xpues Jay. 2, 1982
STATE OF RO?GER POiTRAS w.cs c,,. 6 Csa~a+ty •:orFy?
Eri~utcu>T coi~t
COUNTY OF R1FiEn_.q~ - 4586SS t
Before me personally 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 be the persons who as such officers of said corporation, executed t
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 i
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-
Notary Public in and for
the County and State Aforesaid.
My commission expire
This instrument prepared by:
First i~iational Bank dt Trust Co. of Stuart ~~316 P~E1~
~~~X
P.O. Drawer 2316