HomeMy WebLinkAbout0791 16. When any amount of money to be paid by the Mortgagor to the Mortgagee under the terms hereof shall be in default, or
should the Mortgagor default in any of the terms, provisions or conditions of this Mortgage, then and in that case the bortgagee
shall have the right, without notice to the Mortgagor, to collect and receive from any terunt or lessee of said mortgaged premises
the rents, issues and psofiu of the real e: tact hereby mortgaged and the improvements thereon, and to give proper receipts and
acquittances therefor, and after paying aU commissions of any rental agent collecting the same, and any reasonable attorney's
fees and other necessary expenses incurred in collecting same, to 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 of rights granted the Mortgagee in this Mortgage.
17. That in the event that this Alortgage is given to secure a construction loan, failure on the part of the Mortgagor or the
Mortgagor's contractor, architect, engineers, or sub-contractors to comply with the terms of the Construction Loan Agreement
dated _ _ _ ~/A _ _ _ _ _ _ _ _ _ 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 or checks that the Mortgagor has failed to pmperly endorse, the
Mortgagor does hereby appoint the 1ltortgagee as its attorney-in-fact to supply on behalf of the Mortgagor any and all endorse•
menu necessary to negotiate said check or checks and the Mortgagor agrees to hold the Mortgagee harmless from any liability
whatsoever for supplying said endorsement. In the event the I1lortgagee shall cash a check for the Ilfortgagor 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 balance 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 AGREED by and between the parties hereto that upon request of the
bortgagor, the Mortgagee may hereafter, at it option, at anytime within ten (IO) years from the date hereof and before full pay-
ment ofthis Mortgage and 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 then unpaid, and the total amount of
indebtedness that may be secured by this 11lortgagr 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 = N~A ,together with
interest thereon and any and all disbursements made by the Mortgagee for the payment of taxes, levies, or insurance on the prc>-
perty covered by the lien of this Mortgage with interest on such disbursements at the rate specified to the Note referred to in this
Mortgage, and for reasonable attornev's fees and court-costs incurred in the collection of any or all of such sums of money.
IN WITNESS WHEREOF, the said AtortQaRor has executed this mortgage under seal on the day,and year herein
first above written.
Signed, sealed and delivered in the presence of:
y~~~t~C-~~,
Ed-wa/rd C. Swanson • •
464044 - 1~y)
Virgi a M. Swanson •
Cat 26 2~ '.o
FLORIDA ST
lUC
E~LCt%!iTY.irttA.
STATE OF
MARTIN ss ROGER PDiTftnS_
COUNTY OF CLERX CTClJ:7 CC'.:'
Before me personalh• appeared ~tlWARD C. SWANSON and VIRGINIA M. SWANSON, h15 Wlfe
v
to me will known and known to me to hr the indis•iduaLLdrsrribrd in and w•hu rxriutrd the foregoing instruglse~t,~
and acknow•ledgrd before me that ~he~L. executed the same for the purposes therein expressed.
~ ,
WITNESS my hand and official seal this~~day of October _•:,te.J~~. ,
rY.
€ • ~ ~ -
s
` ~
c y-Public in and for ~ ` ~ ~
r County and State Aforesaid. -'r "'J ~
Aty commission expires: r-~' ' ~ij y ,
STATE O F fl~tt 11ffIkK >;U11t a AfaflfM l~ 1~ + • . - .
- ~rlr tNr uf;. Mlrwwr•s
Before me personally appeared \
and , to me well known and
known to me to br the President and Srcrrtar~•
rrspectivek 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
a did acknow•Irdgr before mr that said
instrument is the free act and dyed of said corporation by them rrspecti~•eh• 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 .tuthoriq•
in them duly t•estrd he the Board of Directors of said corporation.
! Vt'1TNF.SS my hand and official seal this day of 19_
( '
g
r
~ Notary Public in and for
the Counts and State Aforesaid.
\h• rnmmissiun expires:
This instrument prep:ucd hy:
First `ational Bank dr Tn~st Co. of Stu.trt
Sh~ren K. Welker l1R~.1,~ P~Gf
al~~>r
Y.O. Drawer 2i1G