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, ~ 16. When any amount of money to be paid by the Mortgagor to the Mortgagee under the cermshereof shall be in default, or -
• : ahould'the Mortgagor defiulc in say of the terms, provisions or cotxiitioas of this Mortgage. then and is that case the Mortgages
shall have the right. without notice to the Mortgagor, to collect sad receive from say tenant or lessee of said mortgaged prpmisei
the reap, issues and profits of the real estate hereby mortgaged wad the improvements thereon, and to give proper receipts arid
acquittances therefor. and after paying:~ commissions of way rental agent collecting the same, snd any reasonable attorney's
fees snd other accessary txpeases incurred is collecting same, to apply the proceeds o[ such collections upon say indebtedness,
obligation or liability, of the Mortgagor hereunder. 'IUe right granted thr Mortgagee under this paragraph shall be in sddItioa t0.
snd shay sot limit or restrict way other right or rights granted the Mortgagee >n this Mortgage.
17. 'c'hat is the event that this Mortgage is given to secure a rnnatruction-loan, fiilure on the part of the Mortgagor or the
Mortgigor's contracts-, architect, engineers, or subcontractors to comply with the terms of the Construction Loan Agreement
drtted NSA _ whtch is by reference3ncorporatedhcrein. shall, at the option of
the Mortgagee, coaatitute a default hereunder. -
~ 18. lathe event that the Mortgagor makes payment by check or checks that the Mortgagor has failed to properlyendorse. the
Mortgagor does hereby appoint the Mortgagee as its attorney-in-fist to supply on behalf of the Mortgagor any and all endorse-
ments accessary to neg^!:Zte acid chest or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability
' whatsoever for supplying said endorsement. In the event the Mortgagee shall cash a check for the Mortgagor and same shall be
returned for insufficient funds or any 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 principal bahutce of this Mortgage and said sum shall be secured by said
Promissory Note and Mortgage as though it was an additional advance under-the terms and conditions of this Mortgage.
19. IT IS MUTUALLY CONVENANTED AND AGREBD by wad between the parties hereto that upon request of the< -
M rt ee may hereafter, at it option. at anytime within ten (10)~ ears from the date hereof and before full pays
- meat of this Mortgage an urea hereby, make further advances to the Mortgago: and any such further advances, with
interest, shall be secured by this Mortgage a evidenced by an additional Note then un i ount o
indebtedness that may be secured by this Mortgage may 'crease fro ut the total unpaid balance so C~A J(
secured at any one time shall not exceed the maxi sum of ~ together with
interest thereon and any_and all dis ma a by the Mortgagee for the payment of,taxes, levies, ranee on the pro-
petty covered by th ottgage with interest on such disbursements at the rate specified in the Note re o in this
Mo or reasonable attorney's fees and court costs incurred in the collection of any or all of such sums of money. _
1N WITNESS WHEREOF, the said Mortgagor has executed this mortgage under seal on the day and year herein
first above written. -
' ned. sealed and delivered in the pr nee of: -
- -
A ERT SOLLAZZO _
{9~9 SAP 20 ti~ 52 1919 ~P~ ~ P9 ~ 20
FiLEO ANt1 RkCUKtx U 4tEt0R0E0
~e-~~~ ST.LUCIE CO TY.ftt.. ~~~~~~s~
" ROGER P~TRAS -
STATE OF Florida q.ERK clRCVIT ca: ~j a~gggCglT
ss. RECQRQ YERii:lEO~
~~~'°''r ' .~pg8 ~*ElttflEO_
COUNTY OF ?~Ia.I't iri
~ ALBERT SOLLAZZO '4i8U86
Before me personally appeared -
to me yell , known wad known to mr to be the individuate described in and who executed the foregoing instrument,
and•.a4~otil4dged before me that _h~_ executed the large jot the purposes therein expressed. _
r+~S;ip~~NESS~my hand and of[icial seal this ~ day of_~t~f?z2 ~vl~
~ I~ y - Notary Public t and for -
,v ~ the County and State~sid~.~------
. ~ ~H
~ . • ~ ~ - - illy commission expi~~K~~~~1~I~
co
Before me per Ily appeared '
and , to me welt known and
known to me to be the President and Secretary
respectively of .the corporation _
named ir. 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 ca affixed: all under authority-
in them duly vested by the Board of Directors of said corporation. -
VI/ITNESS my hand and official seal this=. day of , 19-
Notary Public in and for
the County and State Aforesaid.
My commission expires:
Tht strument prepared by
First . "cnal Bank dr Trust Co. of Stuart
P.O. Drawer 231 8~~~~ ~
. _ ~ _ anntl~l~ Pfd