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16. When any amount of money to be paid by the I?lortgagor co 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 Mortgagee
shall have the right, without 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 rea.~nable 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 of restrict any other right or rights granted the Mortgagee in this Mortgage.
!7.
Alortgagoi s contractor, architect, engineers, or subcontractors to co o t e Construction I.uan Agreement t
' dated _ _ _ . _ which is by reference incorporated herein, shall, at the option of
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18.
lliortgagor does hereby appoint the Mortgagee as its attorney-in-fact to supply on behalf of the Aio n a endorse-
ments necessary to negotiate said check or checks and the Mortgagor agrees to r gagee harmless from any liability
whatsoever for supplying said endorsement. In the event s a cash a check for the Iortgagor and same shall be
returned for insufficient funds or a so that the Mortgagor is unable to collect its money, then the 1lfortgagor
hereby author gee to add said sum to the principal balance of this Mortgage and said sum shall be secured by said
e.
19. e
Aortgagor, the 11lortgagee may hereafter, at it option, at anytime within ten (10) years from the date hereof a ull pay-
ment ofthis Mortgage and Note(s) secured hereby, make further advances to the Mortgagor a t urther advances, with
interest, shall be secured by this blortgagr and shall be evidenced by an additio en unpaid, and the total amount of
indebtedness that may be secured by this Mortgage may decrease tom time to time, but the total unpaid balance so ,
secured at any one time shall not excee mum principal sum of = 612~000.QO ,together with
interest thereon and any an rsements made by the 11lortgagee for the payment of taxes, levies, or insurance nn the pro-
petty covere n of this Mortgage with interest on such disbursements at the rate specified in the Note referred to in this
IN WITNESS R'HEREOF, the said Mortgagor has executed this mortgage under seal on the day znd year herein
first above written.
Signed, sea d delivered - e presenir of:
~~.,~;:,.u .ru,r4
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Gee Bean, sl ~ f;. C - ~
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STATE OF Fi(utIDA -
I ss-
COUNTI' OF MPl1YI`~
Before me personally appeared C~RAID BF,AN, President Of IAKE PARK NDPOR P `,pia 11t11ttNilH~i~'• , : ~ -
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a Florida f~orporatian, ; :
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to me well known and knuw•n to mr to hr the indit•idurl_ drurihrd in and uhu rariutrd the furrFu~p t nt,~ V •:.•';a~•.•
~ and ackneFwledRrd before me that _hL_ executed the same fur the purposes therein rxprrssrd.r Oi<7 ~r-~
f~orporation. s,; - ' :
~L'ITNESS my hand and official seal this t? dad- ul - l'- f ' ~
464539 ~ ~ -
~ J Ftars• Puhlii in and for t'
1 the Cuuntt• and State Aforesaid. t-
rff_i!i Flit ~_lu+u~U \h• commission expires:
STATE ()F Si.itxlr Ct~ttlYFl~. r c.~~ f'_:~'a :1 la-a
_f2i3G~'i! ~OiiF.aS E.± _ ~ ? -
C(~U\TYOF t~PER.YtLfti.+.1'ICf'~.L':'[, ~:.p• _;,.-,~:s~.,~, Exr:ris ii~_. 11, l:'sU
Hrfurc me pcrsunalle appeared- J
and _ , n. mc• w•rll knuw•n and
knux•n to mr to hr the _ President and Secret:ut•
rrsprcti~•eh• of the iurp.~ration
named in the iorrRoinjL instrument, and knuw•n to mr to hc• tl~r persons a•hu :ts such ultiirrs of said iurpuration. c•xicuted
the same; and then and cheer the said and the said
did aiknuw•Ird}:r brti~ri• me that said
instrument is the free act and deed of said iurpuratiun h}' them resprctivrh• executed as such uffiirrs fur the purpose
1 therein rYprrssed; that the scat thereunto attaihed is the axpuratr seal b_s• them in like iapaiite affixed: all un rr authurit~•
1 in them dul}' s•rstcd by the Ruard of Directors of said arrpuratiun. ~ ~ _ ~
1`Rt
~Z'1•[•\ESS m~• hand end official seal this _dae ui_ ~ O 19_;x_;.,
f ' -
B:.OK. 482 PAr,Fi281 \ntan• Puhiir in and fc~r - ~ • 3
the Cuunt~• and State ~fore3aid. ~ • • ~ sl
\1e commission rxp~r ~ '
ThFS instrument prepared h.•: ~ ~ ~ • ~ ~
First \atiunal Kank d[ Trust Co. ul Stuart ~ y_ ~ - rs1 ~ i-
P.O. 1)r:taer , 31 k 319 IS'77 - L.. _
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