HomeMy WebLinkAbout1198 16. When any amount of money to be paid by the Mortgagor to the Aortgagee unrier the terms hereof shall be in default, pr
should the Alortga~or default in any of the terms, provisions or conditions of this Mortgage, then and in that case the Alortgagrr
shall have the right, witfiout notice to the Mortgagor, to collect and receive from any tenant or lessee of said mortgaged premises
the rents, issues and profits of the real estate hereby mortgaged and the improvements thereon, and to give proper receipts and
acquittances therefor, and after paying all commissions of any rental agent collecting the same. and any reasonable attorneys
fees and other necessary expenses incurred in collecting same, co apply the proceeds of such collections upon any indebtedness,
obligation or liability, of the Mortgagor Hereunder. The right granted the Mortgagee under this paragraph shall be in addition to,
and shall not limit or restrict any other right or rights granted the Mortgagee in this Mortgage.
17. That in the event that this Mortgage is given to secure a construction loan, failure on the part of the Mortgagor or the
Mortgagor s contractor, architect, engineers, or subcontractors to comply with the teems of the Construction 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 bycheck orchecks that the Mortgagor has failed to properly endorse, the ,
Mortgagor does hereby appoint the Mortgagee as its attorney-in-fact to supply on behalf of -the Mortgagor any and all endorse-
ments necessary to negotiate said check or checks and the Mortgagor agrees to hold the Atoctgagee harmless from any liability
whatsoever for supplying said endorsement. In the event the Aortgagee shall cash a check for the Mortgagor and same shall be
returned for insufficient funds or any outer reason so that the Mortgagee is unable to collect its- money, then the Mortgagor
hereby authorizes the 1liortgagee to add said sum to the principal balance of this Mortgage and said sum shall be secured by said
Promissory Note and 11lortgage as though it was an additional advance under the terms and conditions of this Mortgage.
l9. IT IS AiUTUALLY CONVENANTED AND AGREED by and between the-parties hereto that upon request of the
Mortgagor, the Aiortgagee may hereafter, at it option, at anytime within ten (10) years from the date hereof a•td before full pay-
ment ofthis Alorrgage and Note(s) secured hereby. make further advances to the Mortgagor and any such further adva[rcrs, with
interest, shall be secured by this Mortgage and shall be evidenced by an additional Nate then 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 i _ _ . ,together with
interest thereon and any and all disbursements made by the Mortgagee for the payment of taxes, levies, or insurance on the pro-
perry covered by the lien of this Alortgage w ith interest on such disbursements at the rate specified in the Note referred to in this
Mortgage, and for reasonable attorney's fees and court costs incurred in the collection of any or all of such sums ofmoney.
IN WITNESS. WHEREOF, the said Aortgagor has executed this mortgage tender seal on the day d year herein
first above written.
Signed, sealed and delivered in the presence_of:
Cit/ •
r Ge a M. Graf ,
- _
- i9T9 SAP 27 ~ 54 , .:;t;~l~t
f lE0 ANC kECUiu}EU ' •;~.r
31} LUCIf COUNTY FIA. 1
~ 0 ' q ~ = _
STATE OF FLORIDA ROGER P01 ~ KAS : = _ - : n - `'r
~,ERK CIRCUIT COURT ~ ~ ; • ~ ~ : '1
COUNTY OF MARTS #ECg116ilERIFtEII_~i
--~~f~--- -~'r~'' :•"fb ;
Before me personally appeared_ GERDA M. GRAF = ~ -
to me well known and known to me to br the individuaL_ described in and who executed the fr~~ktoing instrument,
{ c
and acknowledged before me that 8 h~ executed the same for the purposes therein expressed.
\1L'ITNESS my hand and official seal this day of ~ teIDber - 79
! /
\otan• Puhlic in and or
the Count~• and State Aforesaid.
.1G?d?1~ Isillf.iC, Sliaa 9r .v,.1.3 I i;:lgE
A!y commission expires: Eo-~TC.i~? c..c'es !sa. i_ i~v2
STATE OF s, „r__~ ,
_ ~ {
COU\TY OF - r
Before mr personally appeared
and . to mr well known and
i
known to me to be the President and Srcretan•
respectieeh• of ,the corporation
named in the foregoing instrument, and known to mr to be the persons a•ho as such officers of said corporation, rxecatrd
the same; and then and there the said and the said
did acknow~lydgr before mr that said
instrument is the free act and deed of said corporation hg them rrspectivrh• executed as such officers for the purpose
therein expressed; that the seal thereunto attached is the corporate seal h~• them in like iapacitg affixed: all under authority
in them duk vested by the Board of Directors of said corporation.
~~'IT\ESS my hand and official sail this day of . 19`
`otan• Public in and for
the Counn• and Starr Aforesaid.
_ t
Acv commission expires:
This instrument prepared by:
First \ation:rl Bank do Trus[ Cu. of Stuart-
- f
P.O. Drawer 2316 ~